Titan edge higher as revenue jumps 24% YoY in Q3 FY25

Titan Company gained 1.76% to Rs 3,510 after the Tata Group company reported standalone revenue growth of 24% in third quarter of FY25.

The firm also launched 69 new outlets during the quarter, taking its total retail network to 3,240 stores.

During Q3 FY25, Titan's jewellery business grew about 26% year-on-year, buoyed by strong festive demand. Robust consumer traction during 'Diwali' translated into high single-digit buyer growth along with double-digit ticket size growth.

Gold (plain) exhibited particularly strong momentum, growing 24% YoY benefiting from increased gold prices and festive and wedding purchases. Notably, gold coin sales grew 48% YoY, reflecting consumer preference for gold as an investment avenue and customary purchases during the festive occasion of Dhanteras.

 

Studded grew 21% year on year, recording its highest quarterly print till now for the financial year 2025, it added.

Tanishq (international) added a new store each in Seattle, USA, and Gold Souk, Dubai. Of the 24 new store additions in India, 11 stores were added in Tanishq and 13 stores were added in Mia.

Watches & Wearables domestic business saw 13% growth compared to last year. The analog segment grew by 19%, driven by festive demand and well supported by healthy premiumization trends. The wearables saw a drop of 20% from last year, reflecting the broader market stress in the smart wearables segment and reduced consumer spending in the entry and mid-segment price points. The division added 23 new stores in the quarter, comprising 12 stores in Titan World, 10 in Helios, and 1 in Fastrack, respectively.

The EyeCare division's business clocked a healthy growth of 17% YoY, led by retail and e-commerce, both on revenue and buyers. Titan Eye+ closed 3 stores (net) in India during the quarter.

In emerging businesses, fragrances grew by 27% year-on-year while fashion accessories declined by 20%. Taneria's growth was flat as compared to last year, and it added one store in the city of Salem during the quarter.

The companys Caratlane business jumped 25% YoY, driven by a strong growth of 26% YoY in the studded portfolio. Buyers grew 8% YoY, and L2L growths clocked a healthy growth of 16% YoY. Brand added its first international store in New Jersey, USA, in the quarter. About 19 net new domestic stores were added in this period, expanding the India presence to 305 stores.

The Titan brand continues to be Indian consumers proud choice in this segment. On account of the customs duty-related losses as well as the need to invest in the growth of various businesses, the profitability of Q2 was quite depressed. However, we are quite confident about the competitiveness of each of our businesses, and we remain optimistic about our performance for the rest of the financial year."

Titan Company, a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO), commenced its operations in 1987 under the name Titan Watches. In 1994, Titan diversified into Jewellery (Tanishq) and subsequently into EyeCare.

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