Titan Company Limited delivered a landmark financial performance in FY2025-26, crossing ₹75,000 crores in annual consolidated revenue for the first time. The company's consolidated total income for the full year stood at ₹76,078 crores, representing a 33% increase over FY25, while Q4FY26 consolidated total income surged 46% to ₹20,300 crores — one of the strongest quarterly performances in the company's history. However, Q4 consolidated net profit came in at ₹12B rupees against ₹8.7B in the year-ago period, falling short of the analyst estimate of ₹13B. The Board of Directors, at its meeting held on 8 May 2026, approved the audited standalone and consolidated financial results for the quarter and year ended 31 March 2026, and recommended a dividend of ₹15.00 per equity share of ₹1 each, subject to shareholder approval at the 42nd Annual General Meeting.

Consolidated Financial Highlights

The company's consolidated financial performance for Q4FY26 and FY26 reflects broad-based growth across revenue and profitability metrics, though the quarter's net profit trailed analyst expectations. Q4 EBITDA rose to ₹19.4B rupees compared to ₹15.4B in the year-ago period; however, Q4 EBITDA margin contracted to 7.2% from 10.30% YoY. For the full year, FY26 EBITDA margin stood at 9.5%, falling short of the company's guidance range of 11.0%–11.5%. The following table presents key consolidated financial indicators (figures in ₹ crores; note: total income excludes Bullion and Digi-gold sales in all periods; numbers and growth percentages are rounded to the nearest integers; profit is before exceptional items):

On a standalone basis, total income for the year ended 31 March 2026 stood at ₹78,089 crores against ₹55,335 crores in the prior year. Standalone profit for the year was ₹4,630 crores compared to ₹3,335 crores in FY25. Basic earnings per share (standalone, not annualised) for the year ended 31 March 2026 were ₹52.20, against ₹37.60 in the prior year, while diluted EPS stood at ₹52.16 versus ₹37.58. On a consolidated basis, basic EPS (not annualised) for the year ended 31 March 2026 was ₹57.19 compared to ₹37.62 in the prior year, while diluted EPS stood at ₹57.16 versus ₹37.61.

Standalone Balance Sheet and Key Ratios

The standalone net worth of the company as at 31 March 2026 stood at ₹20,487 crores, compared to ₹16,811 crores as at 31 March 2025, while the consolidated net worth stood at ₹15,703 crores versus ₹11,624 crores in the prior year. Total standalone assets grew to ₹53,617 crores from ₹41,075 crores. Key standalone financial ratios for the year ended 31 March 2026 are presented below:

On a consolidated basis, total assets as at 31 March 2026 stood at ₹60,561 crores versus ₹40,647 crores in the prior year. The consolidated debt equity ratio stood at 0.93 for FY26 compared to 1.12 in FY25, while the consolidated current ratio was 1.28 versus 1.34 in the prior year.

Business Segment Performance

The Jewellery business remained the primary growth engine, recording 50% growth over Q4FY25 to reach ₹18,195 crores (excluding Bullion and Digi-Gold sales). The India Jewellery business income rose 46% to ₹17,114 crores, with Tanishq, Mia and Zoya (combined) growing 48% to ₹16,047 crores and CaratLane recording 22% growth to ₹1,066 crores. The International Jewellery business grew 174% to ₹1,081 crores, aided by the addition of Damas Jewellery. The Jewellery business achieved an EBIT of ₹1,820 crores at a margin of 10.0% for the quarter; the India business clocked an EBIT of ₹1,902 crores at 11.1% margin, while the International jewellery business (including Damas) recorded a loss of ₹82 crores for the quarter. During Q4FY26, the division added 27 stores (net) in India — comprising 8 Tanishq stores, 14 Mia stores and 5 CaratLane stores — along with 4 new Tanishq store openings in the GCC region. With the Damas acquisition, 123 stores were added to the international network.

The following table summarises segment-wise performance for Q4FY26 (consolidated, ₹ crores):

Watches, EyeCare and Emerging Businesses

The Watches business delivered steady performance in Q4FY26, with analog watches leading growth on the back of premiumization trends and volume uptick. The analog segment recorded healthy double-digit growth in consumer sales, while Smart Watches witnessed nearly 50% decline in overall value. The business achieved total income of ₹1,222 crores for the quarter, growing 8% over Q4FY25, with an EBIT of ₹143 crores at 11.7% margin. The division added 30 new stores (net) in the quarter, comprising 17 stores in Titan World, 7 in Fastrack, 4 in Helios and 2 in Helios Luxe. The EyeCare business (domestic) sustained double-digit growth momentum, achieving total income of ₹227 crores in Q4FY26, up 17% over Q4FY25, with an EBIT of ₹21 crores at 9.2% margin; store optimization efforts included 37 refurbishments/renovations, 12 new store openings and 32 closures during the quarter.

The Emerging Businesses — comprising SKINN Fragrances, IRTH Women's Bags and Taneira (Indian Dress Wear) — reported combined total income of ₹123 crores for Q4FY26, up 20%, while recording a combined loss of ₹50 crores for the period. Titan Engineering & Automation Limited (TEAL) delivered strong growth of 60% over Q4FY25, recording total income of ₹454 crores for Q4FY26 with an EBIT of ₹81 crores at a margin of 17.9%.

Damas Acquisition and Corporate Developments

During Q4FY26, Titan successfully completed its 67% acquisition of Damas Jewellery, one of the GCC region's heritage jewellery brands, marking a significant step in the company's international expansion. Titan Holding International FZCO, a wholly owned subsidiary, acquired a 67% equity interest in Damas LLC through Signature Jewellery Holding Limited with effect from 4 January 2026, for a consideration of ₹1,190 crores. A put option liability of ₹1,668 crores has been recognised, resulting in a total purchase consideration of ₹2,858 crores. Based on a preliminary purchase price allocation, the transaction resulted in the recognition of provisional goodwill amounting to ₹599 crores. On 4 April 2025, TEAL also acquired 100% of the business engaged in manufacturing of specialised test and assembly automation equipment from Justech Precision Industry India Private Limited for a total consideration of ₹62 crores, with goodwill of ₹4 crores recognised on the transaction.

During the year ended 31 March 2026, the Government of India notified four Labour Codes consolidating 29 existing labour laws. The company evaluated and disclosed the incremental impact of these regulatory changes; on a standalone basis, the incremental impact of ₹(49) crores was recognised as an exceptional item for Q4FY26 and ₹89 crores for the full year. On a consolidated basis, the exceptional item amounted to ₹(51) crores for the quarter and ₹101 crores for the year ended 31 March 2026, primarily on account of past service cost for gratuity and leave liability due to changes in wage definitions.

Management Commentary

Commenting on the performance, Mr. Ajoy Chawla, Managing Director, stated: "FY26 has been a landmark year for Titan. We had crossed the ₹50,000 crores annual revenue milestone in FY25 after nearly 40 years. The next ₹25,000 crores has been remarkably achieved in a single year of FY26. This is a reflection of the enduring strength of our brands, the trust of our consumers, and the unflinching commitment of every member of the Titan family. As we step into FY27 with optimism on the back of an exceptional FY26 performance, we are conscious of the macro volatility and fragile geopolitical situations that necessitate all around agility to respond effectively to grow our businesses. We remain committed to elevating Titan's competitive advantage, deepening customer engagement, and creating long-term value for all our stakeholders."

Dividend and Auditor's Report

The Board of Directors recommended a dividend of ₹15.00 per equity share of ₹1 each for the year ended 31 March 2026, payable within seven days from the conclusion of the 42nd Annual General Meeting, subject to shareholder approval. The statutory auditors, B S R & Co. LLP, issued an unmodified (unqualified) audit opinion on both the standalone and consolidated annual financial results for the year ended 31 March 2026.

Titan Company Limited has informed the stock exchanges that Mr. Ashwani Puri (DIN: 00160662) has completed his second term of five consecutive years as an Independent Director of the Company, and has consequently ceased to be a Director effective 6th May 2026. The disclosure was made pursuant to Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Cessation Details

The following details have been disclosed as required under SEBI Regulations, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023:

Regulatory Compliance

The intimation was filed in accordance with the applicable SEBI Listing Regulations and is also available on the Company's website at www.titancompany.in . The disclosure was signed by Dinesh Shetty, General Counsel & Company Secretary of Titan Company Limited, on 6th May 2026.