Titan Company Limited has informed the Exchange about Earnings Call Transcripts
TITAN · price
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Awaiting price reaction for this filing.
Titan filed the Q3 FY26 earnings call transcript on February 13, 2026. The jewellery division posted strong ~40% growth, while watches/wearables, eyecare, and fragrances grew 14-18%. Management confirmed completion of the 67% stake acquisition in Damas, with consolidation starting January 1, 2026 (Q4 FY26 onwards). Labour code impact of INR 152 crore (consolidated) and INR 138 crore (standalone) was taken as an exceptional item. Average ticket size hit a record ~INR 1.9 lakhs, and new buyer share improved to 45% (from 42% in Q2). Gold exchange now accounts for over 50% of jewellery business, and jewellery purchase plans (Golden Advantage/Harvest) contribute 20-25%. CaratLane reached low-double-digit EBIT margin earlier than guided.
Strong jewellery growth and the Damas acquisition will drive consolidated revenue from Q4 FY26, but management explicitly warned of margin pressure from sustained gold price increases, asking investors to track absolute EBIT/PBT growth rather than percentage margins. Stock reaction may be mixed — strong festive quarter vs. structural margin headwinds and gold price volatility.