Shares of Titan Company Ltd. surged more than 2 per cent during morning trades, emerging as the top performer on the Nifty 50 index, following the company’s 24 per cent year-on-year growth in the quarter ending December.
On Monday, Titan’s shares began trading with a rise of more than 1 per cent, opening at ₹3,490.
Ace investor Rekha Jhunjhunwala currently has 5.14 per cent stake in the Tata Group jewellery brand.
Titan Q3 update
In a filing with the stock exchanges, the company reported a 24 per cent YoY rise in its standalone business.
During the October-December quarter, Titan’s jewelry business experienced approximately 26 per cent year-on-year growth, driven by strong festive demand. The Diwali season saw robust consumer interest, resulting in high single-digit growth in the number of buyers and double-digit growth in average ticket size.
Caratlane achieved a 25 per cent year-on-year growth, fueled by an impressive 26 per cent growth in its studded jewelry portfolio. During the quarter, the brand opened its first international store in New Jersey, USA, and added 19 net new domestic stores, increasing its presence in India to a total of 305 stores.
Tanishq expanded its presence by opening one new store each in Seattle, USA, and Gold Souk, Dubai. Within India, a total of 24 new stores were launched, including 11 under the Tanishq brand and 13 under the Mia brand.
Titan’s Watches & Wearables segment experienced a 13 per cent year-on-year increase in domestic sales. While the analog watch category grew by 19 per cent, the Wearables segment saw a 20 per cent decline compared to the previous year.
During the quarter, the Watches and Wearables division expanded its retail presence by adding 23 net new stores, including 12 under Titan World, five for Helios, and one for Fastrack.
Titan EyeCare achieved a robust 17 per cent growth compared to the same period last year, driven by strong performance in both retail and e-commerce across revenue and customer acquisition. The Titan Eye+ chain added three net new stores in India during this period.
In the emerging business category, fragrances saw a significant 27 per cent year-on-year growth, while fashion accessories declined by 20 per cent. Taneria reported flat growth compared to last year, with the addition of one new store in Salem during the quarter.
