Titan Company Limited , a leading player in India's lifestyle and consumer goods sector, has reported strong financial results for the first quarter, demonstrating resilience in the face of challenging market conditions.

Financial Highlights

The company's consolidated total income surged by 21% year-over-year to ₹14,966.00 crores. Profit after tax (PAT) saw a remarkable increase of 53%, reaching ₹1,091.00 crores with a margin of 7.3%.

Segment Performance

Jewellery Division

Despite an elevated gold price environment, Titan's jewellery portfolio, which includes brands like Tanishq, Mia, and Zoya, demonstrated resilience with a 19% growth, reaching ₹12,797.00 crores (excluding bullion and digi-gold sales). The division recorded an EBIT of ₹1,408.00 crores at a margin of 11.0%.

Key points:

• India business of Tanishq, Mia, and Zoya collectively grew by 18% to ₹11,217.00 crores.
• CaratLane showed strong performance with 39% growth to ₹1,026.00 crores.
• International jewellery business expanded by 49% to ₹554.00 crores.

Watches Division

The watches segment delivered an exceptional performance, marking one of its best-ever quarters:

• Total income grew by 24% to ₹1,273.00 crores.
• EBIT stood at ₹287.00 crores with a robust margin of 22.6%.
• Analog watches led the growth, expanding by 28% driven by volume uptake and pricing actions.

EyeCare Division

The EyeCare business reported:

• Total income of ₹238.00 crores, up 13% year-over-year.
• EBIT of ₹20.00 crores with a margin of 8.4%.

Emerging Businesses

Titan's emerging businesses, including Indian Dress Wear (Taneira), Fragrances, and Fashion Accessories, showed promising growth:

• Total income increased by 35% to ₹108.00 crores.
• Operational efficiencies helped reduce combined losses to ₹14.00 crores from ₹26.00 crores in the previous year's quarter.

Other Notable Developments

• Nebula by Titan unveiled 'JALSA', a rare tourbillion timepiece, crafted to honor 225 years of the iconic Hawa Mahal in Jaipur.
• Tanishq elevated its global brand presence through participation at Paris Couture Week and in Cannes.
• The company launched its first comprehensive ESG initiative, 'PRAGATI - the future we embrace', reinforcing its commitment to responsible and inclusive growth.

Management Commentary

CK Venkataraman, Managing Director of Titan Company, expressed optimism about the company's performance: "Q1 has been an encouraging start with 21% consolidated revenue growth, demonstrating the strength of our diversified business model. Our Jewellery business continues to show remarkable resilience despite headwinds from elevated gold prices. Watches delivered one of its best-ever quarters, achieving exceptional performance in both revenue growth and margins."

He added, "We remain optimistic about our growth trajectory and our ability to create long-term value across all business segments."

With its strong performance across segments and continued focus on innovation and expansion, Titan Company Limited appears well-positioned for sustained growth in the coming quarters.

Titan Company Limited , a prominent player in India's lifestyle and consumer goods sector, has reported robust financial results for the first quarter, demonstrating strong growth across its diverse business segments.

Financial Highlights

Titan's consolidated total income for Q1 reached ₹14,966.00 crores, marking a significant 21% increase compared to the same period last year. The company's profit after tax surged by an impressive 53% to ₹1,091.00 crores, with a healthy margin of 7.3%.

Segment Performance

Jewellery

The jewellery segment, Titan's largest business vertical, demonstrated resilience in a challenging market environment. Despite elevated gold prices, the segment grew by 19% to ₹12,797.00 crores (excluding bullion and digi-gold sales). Tanishq, Mia, and Zoya collectively grew by 18% in India, while CaratLane reported a robust 39% growth to ₹1,026.00 crores. The international jewellery business saw a remarkable 49% growth to ₹554.00 crores, achieving profitability for the first time in both UAE and North America regions.

Watches

Titan's watch division delivered an exceptional performance, with revenue growing 24% to reach ₹1,273.00 crores. This marks one of the best quarters for the watches segment, achieving a 22.6% EBIT margin. Analog watches led the growth, expanding by 28% driven by both volume uptake and pricing actions.

Eyecare

The eyecare business reported a 13% growth in total income, reaching ₹238.00 crores. The division recorded an EBIT of ₹20.00 crores with a margin of 8.4%. Sunglasses outpaced prescription products in growth during this quarter.

Emerging Businesses

Titan's emerging businesses, including Indian Dress Wear (Taneira), Fragrances, and Fashion Accessories, saw a collective growth of 35%, with total income reaching ₹108.00 crores. Operational efficiencies helped reduce losses in this segment.

Other Businesses

Titan Engineering & Automation Limited (TEAL) showed impressive 56% growth to ₹307.00 crores.

Management Commentary

CK Venkataraman, Managing Director of Titan Company, expressed optimism about the company's performance: "Q1 has been an encouraging start with 21% consolidated revenue growth, demonstrating the strength of our diversified business model. Our Jewellery business continues to show remarkable resilience despite headwinds from elevated gold prices. Watches delivered one of its best-ever quarters, achieving exceptional performance in both revenue growth and margins."

He further added, "We remain optimistic about our growth trajectory and our ability to create long-term value across all business segments."

With its strong start to the quarter, Titan Company continues to demonstrate its ability to navigate market challenges while delivering robust growth across its diverse portfolio of lifestyle products.