Fourth quarter and annual earnings presentation for FY 2025-26
TITAN · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Titan Company reported exceptional Q4 FY26 results with consolidated total income (excl. bullion) of Rs 20,300 crore, up 46% YoY. For the full year FY26, total income reached Rs 76,078 crore, a 33% increase, meaning the company added another Rs 25,000 crore on top of the previous year's Rs 50,000 crore milestone. EBIT for FY26 was Rs 8,082 crore with margins expanding 105 basis points to 10.6% versus 9.6% in FY25. The Jewellery segment (91% of revenue) drove growth with domestic income up 32% to Rs 64,345 crore, while Tanishq's international expansion in US (65% growth) and GCC (40% growth) contributed to a 93% rise in international business. The company completed its 67% acquisition of Damas Jewellery during Q4, with 4 stores already converted to Tanishq. Despite strong topline growth, Q4 margins faced pressure due to higher coin sales impacting product mix.
The strong 33% revenue growth and margin expansion demonstrates Titan's ability to scale profitably. However, Q4 margin compression from product mix (coins vs studded jewellery) and international operating losses may concern near-term investors. The company's international expansion and Damas acquisition provide multi-year growth visibility.