Titan Company has fully redeemed commercial papers (CPs) valued at ₹825 crore. The securities, originally issued on July 10, 2026, reached maturity on October 8, 2026. Maturity proceeds were duly paid to all holders on the redemption date.

The company communicated the completion of this debt repayment to BSE Limited via a formal filing dated October 8, 2026. This action aligns with SEBI Operational Circular No. SEBI/HO/DDHS/P/CIR/2021/613, which governs the issue and listing of non-convertible securities and commercial papers.

Redemption details

The redeemed instruments were short-term debt securities used for working capital or other corporate purposes. Titan Company confirmed that the full principal amount was repaid as scheduled.

This transaction marks the closure of a specific tranche of short-term borrowings for the Tata Group enterprise. The company noted that a copy of the intimation is available on its official website for public record.

Titan Company recorded a c.25% YoY growth in its consumer businesses during Q2FY27, with management anticipating robust festive demand and higher growth in the subsequent quarter. The company added 78 net stores to its network, bringing the total store count to 3,758 as of September 2026.

The filing, dated October 6, 2026, highlights strong momentum across key segments. Domestic operations grew 22% YoY, while international business surged 97% YoY. This international figure includes metrics from Damas Jewellery, which was consolidated into Titan effective January 2026. All figures are provisional and subject to limited review by statutory auditors.

Segment performance breakdown

The following table details the year-on-year growth and store additions for Titan's various business verticals in Q2FY27:

Note: Growth percentages are rounded to the nearest integer. Metrics exclude Bullion and Digi-gold sales. International business includes Damas Jewellery (67% holding).

Domestic business drivers

Jewellery The jewellery portfolio clocked c.21% YoY growth. Consumer demand remained healthy for most of the quarter but softened towards the close due to a shift in the festive calendar to Q3FY27. Studded jewellery grew strongly in the early thirties percent, aided by the 'Festival of Diamonds' campaign and brand-level promotions. Plain gold jewellery grew c.20% YoY. Investment-led coins demand tapered off from a high base, resulting in a high single-digit decline YoY. Buyer growth at a portfolio level was mid-single digits, while average ticket sizes saw double-digit growth.

Watches The watches division recorded robust c.30% YoY growth, driven by premiumization trends. Analog watches grew in the early thirties percent, while the smartwatches business saw a recovery with encouraging high single-digit growth.

EyeCare EyeCare delivered strong performance with c.28% YoY growth. The division cited focused execution, a multi-brand approach, and continuous upgrades to the existing store network as key drivers for enhancing customer experience.

Emerging Businesses Within emerging businesses, Fragrances clocked mid-thirties percent growth YoY. Women's Bags grew in the twenties percent range, while Taneira's growth was in high single digits YoY.

International expansion

The international segment showed significant acceleration. The combined jewellery businesses of Tanishq, Mia, and CaratLane maintained strong double-digit momentum in North America. In the GCC region, the business held up well despite a volatile geopolitical environment. Tanishq recorded improving growths, and Damas showed early signs of recovery.

Outlook and festive demand

Management expects higher growth in the next quarter, driven by anticipated robust festive demand. The shift of the festive calendar to Q3FY27, which softened Q2 closing demand, is now positioned as a catalyst for improved performance in the upcoming quarter.

What the numbers show

A divergence is visible between domestic and international growth rates. While the domestic portfolio grew 22% YoY, the international segment expanded 97% YoY. However, this international surge is heavily influenced by the consolidation of Damas Jewellery, which began in January 2026. Excluding this structural change, the organic momentum appears concentrated in high-margin categories like studded jewellery and analog watches, which grew faster than the overall domestic average.