Titan Reports 21% Jump in Q2 Jewellery Sales, Driven by Festive Demand

Titan Company Limited posted a strong 21% year-on-year growth in jewellery revenue (excluding bullion and digi-gold), reaching ₹14,092 crore for Q2 FY26. The domestic business—comprising Tanishq, Mia, and Zoya—grew 18% to ₹12,460 crore, while CaratLane delivered an impressive 32% rise to ₹1,072 crore. The international jewellery division nearly doubled sales to ₹561 crore, led by strong demand in the UAE and North America.

Profitability remained solid across segments. The domestic portfolio achieved EBIT of ₹1,381 crore with an 11.1% margin, CaratLane reported ₹109 crore EBIT at 10.1%, and international operations contributed ₹16 crore at a 2.8% margin.

Titan’s Managing Director C.K. Venkataraman described the quarter as “very satisfying,” attributing the strong performance to festive momentum and brand loyalty. “After a slow start, sales picked up sharply with the early onset of festivals in September. Navratri demand was particularly buoyant, driving 21% growth in Q2FY26. Our jewellery brands Tanishq, Mia, Zoya, and CaratLane benefited significantly from this late surge, reaffirming their enduring consumer appeal,” he said.

A key growth driver was Titan’s gold exchange campaign led by Sachin Tendulkar, which emotionally connected with customers by portraying gold exchange as a means of unlocking value for both individuals and the nation. According to Ajoy Chawla, CEO of the Jewellery Division, the initiative, along with gold rate-linked offers instead of traditional making-charge discounts, effectively encouraged conversions even amid record-high gold prices.

The quarter also saw a notable 65% year-on-year increase in gold coin sales, reflecting strong investment-led buying, while studded jewellery grew by 16%, supported by festive collections such as Mriganka and Whispers from the Valley.

Titan expanded its retail footprint by adding 25 new stores, taking the total to 510 domestic and 23 international outlets across its jewellery brands. Reinforcing its global ambitions, the company also announced plans to acquire a majority stake in Damas Jewellery, a leading GCC brand—further strengthening Titan’s international growth strategy.