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Titan Company Q2 FY27 results: net profit up 113.6% to ₹2,393 crore, revenue up 10.1%
Titan Company Limited reported consolidated revenue of ₹20,614 crore for Q2 FY27, up 10.1% from ₹18,725 crore a year earlier, while EBITDA rose 59.1% to ₹2,984 crore and net profit rose 113.6% to ₹2,393 crore. Basic EPS was ₹26.96 against ₹12.63 in the year-ago quarter, and the EBITDA margin widened to 14.5% from 10.0%.
Key points
- Consolidated revenue was ₹20,614 crore in Q2 FY27, up 10.1% from ₹18,725 crore in Q2 FY26.
- EBITDA rose to ₹2,984 crore from ₹1,875 crore, lifting the margin to 14.5% from 10.0%.
- Net profit was ₹2,393 crore against ₹1,120 crore a year earlier, and basic EPS was ₹26.96 against ₹12.63.
- Other income rose to ₹816 crore from ₹112 crore, while total expenses increased 6.4% to ₹18,429 crore.
- In H1 FY27, revenue rose to ₹41,970 crore from ₹35,248 crore and net profit rose to ₹4,170 crore from ₹2,211 crore.
How did Titan Company perform in Q2 FY27?
Titan Company reported consolidated revenue of ₹20,614 crore for the July–September 2026 quarter, up 10.1% from ₹18,725 crore in Q2 FY26. Total income was ₹21,430 crore against ₹18,837 crore, and EBITDA rose to ₹2,984 crore from ₹1,875 crore. The EBITDA margin widened to 14.5% from 10.0%, a rise of 4.5 percentage points.
Profit before tax was ₹3,001 crore against ₹1,521 crore, and net profit rose to ₹2,393 crore from ₹1,120 crore. Basic EPS was ₹26.96 against ₹12.63. On the standalone basis, revenue was ₹17,830 crore, up 7.8%, and net profit was ₹1,572 crore against ₹1,006 crore.
Sequentially, revenue fell 3.5% to ₹20,614 crore from ₹21,356 crore in Q1 FY27, while total income was ₹21,430 crore against ₹21,502 crore. EBITDA rose to ₹2,984 crore from ₹2,890 crore, and the margin increased to 14.5% from 13.5%. Net profit rose to ₹2,393 crore from ₹1,777 crore, and basic EPS was ₹26.96 against ₹20.03.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 20,614 | 21,356 | 18,725 | +10.1% | −3.5% |
| Other income | 816 | 146 | 112 | +628.6% | +458.9% |
| Total expenses | 18,429 | 19,075 | 17,316 | +6.4% | −3.4% |
| EBITDA | 2,984 | 2,890 | 1,875 | +59.1% | +3.3% |
| EBITDA margin | 14.5% | 13.5% | 10.0% | +4.5 pp | +1.0 pp |
| Profit before tax | 3,001 | 2,427 | 1,521 | +97.3% | +23.7% |
| Tax | 607 | 652 | 402 | +51.0% | −6.9% |
| Net profit | 2,393 | 1,777 | 1,120 | +113.6% | +34.6% |
| EPS (₹) | 26.96 | 20.03 | 12.63 | +113.5% | +34.6% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Titan Company's costs and profit?
Cost of materials fell 6.2% to ₹19,326 crore from ₹20,601 crore in the year-ago quarter, while employee cost rose 21.6% to ₹749 crore from ₹616 crore. Other expenses increased 21.9% to ₹1,859 crore from ₹1,525 crore, and finance costs rose 93.5% to ₹536 crore from ₹277 crore. Depreciation was ₹263 crore against ₹189 crore.
Total expenses rose 6.4% to ₹18,429 crore from ₹17,316 crore, below the 10.1% rise in revenue. Other income increased to ₹816 crore from ₹112 crore, and there was no exceptional item in either quarter. Tax was ₹607 crore against ₹402 crore, so profit before tax rose 97.3% to ₹3,001 crore and net profit rose 113.6% to ₹2,393 crore.
Against Q1 FY27, total expenses fell 3.4% to ₹18,429 crore from ₹19,075 crore and cost of materials rose to ₹19,326 crore from ₹11,147 crore. Other income was ₹816 crore against ₹146 crore, finance costs were ₹536 crore against ₹353 crore, and tax was ₹607 crore against ₹652 crore, with no exceptional item in either quarter.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 19,326 | 20,601 | −1,275 | −6.2% |
| Employee cost | 749 | 616 | +133 | +21.6% |
| Finance costs | 536 | 277 | +259 | +93.5% |
| Depreciation | 263 | 189 | +74 | +39.2% |
| Other expenses | 1,859 | 1,525 | +334 | +21.9% |
| Total expenses | 18,429 | 17,316 | +1,113 | +6.4% |
| Other income | 816 | 112 | +704 | +628.6% |
| Tax | 607 | 402 | +205 | +51.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, Titan Company reported consolidated revenue of ₹41,970 crore, up 19.1% from ₹35,248 crore in H1 FY26. Total income rose 21.1% to ₹42,932 crore from ₹35,465 crore. Profit before tax increased 80.9% to ₹5,428 crore from ₹3,001 crore.
Net profit for H1 FY27 was ₹4,170 crore against ₹2,211 crore, and EPS was ₹46.99 against ₹24.93. The profit margin widened to 11.6% from 6.0% in the year-ago quarter, a rise of 5.6 percentage points.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 41,970 | 35,248 | +19.1% |
| Profit before tax | 5,428 | 3,001 | +80.9% |
| Net profit | 4,170 | 2,211 | +88.6% |
| EPS (₹) | 46.99 | 24.93 | +88.5% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
In H1 FY27, operating cash flow was an outflow of ₹11,177 crore against an inflow of ₹3,444 crore in H1 FY26. Investing cash flow was ₹947 crore against an outflow of ₹1,097 crore, and financing cash flow was ₹10,047 crore against an outflow of ₹2,451 crore. Capital expenditure was ₹408 crore against ₹259 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 71,806 | 60,561 |
| Total equity | 18,263 | 15,703 |
| Borrowings | 24,265 | 11,378 |
| Cash and equivalents | 686 | 873 |
| Inventories | 50,861 | 42,743 |
| Trade receivables | 1,836 | 916 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −11,177 | 3,444 |
| Cash from investing | 947 | −1,097 |
| Cash from financing | 10,047 | −2,451 |
| Capital expenditure | 408 | 259 |
Source: Company's results filing (XBRL).
How has Titan Company done over the last 8 quarters?
Titan Company's quarterly revenue rose in each of the last eight quarters on a year-on-year basis, while profit rose in each of the last seven. Revenue reached ₹26,920 crore in Q4 FY26 and fell to ₹21,356 crore in Q1 FY27 before easing to ₹20,614 crore in Q2 FY27.
Which businesses drove the quarter?
In Q2 FY27, Jewellery remained the main business, with revenue of ₹17,721 crore, up 7.3% from ₹16,522 crore, and EBIT of ₹2,300 crore against ₹1,506 crore. The segment's EBIT margin was 13.0%. Watches reported revenue of ₹1,881 crore, up 27.4% from ₹1,477 crore, and EBIT of ₹412 crore against ₹238 crore, with an EBIT margin of 21.9%.
Eyecare revenue rose 27.7% to ₹281 crore from ₹220 crore, with EBIT of ₹23 crore against ₹12 crore and an EBIT margin of 8.2%. Others reported revenue of ₹808 crore, up 45.1% from ₹557 crore, and EBIT of ₹173 crore against ₹70 crore, with an EBIT margin of 21.4%. Corporate (unallocated) showed revenue of ₹739 crore against ₹61 crore and EBIT of ₹628 crore against a loss of ₹27 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Watches | 1,881 | +27.4% | 412 | 21.9% |
| Jewellery | 17,721 | +7.3% | 2,300 | 13.0% |
| Eyecare | 281 | +27.7% | 23 | 8.2% |
| Others | 808 | +45.1% | 173 | 21.4% |
| Corporate (unallocated) | 739 | +1111.5% | 628 | 85.0% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
Titan Company filed an investor presentation with the NSE around the result. The same-day filings also covered two board-related changes. Price Waterhouse Chartered Accountants LLP was appointed as statutory auditor for a five-year term from the conclusion of the 43rd AGM in 2027 until the conclusion of the 48th AGM in 2032, subject to shareholders' approval and other statutory requirements, on the recommendation of the Audit Committee.
The filing stated that B S R & Co., LLP, the current statutory auditor, will continue until the conclusion of the 43rd AGM in 2027, marking the completion of their second consecutive term of five years. The company also said Noel N. Tata will retire as non-executive, non-independent director and vice-chairman with effect from 12 November 2026, in accordance with the Tata Group Governance Guidelines. No dividend or fund raise was reported in the same-day filings.
How did other Gems Jewellery And Watches companies do?
Twelve other Gems Jewellery And Watches companies have filed results for this quarter, and their median revenue growth was 42.4% as on 5 November 2026. Of these, two grew more slowly than Titan Company and ten grew faster than Titan Company.
Nine of the twelve peers reported higher profit. Titan Company's consolidated revenue growth of 10.1% in Q2 FY27 was below the peer median revenue growth of 42.4%.
| Titan Company revenue growth (YoY) | +10.1% |
|---|---|
| Median of 12 other Gems Jewellery And Watches companies | +42.4% |
| Companies with slower revenue growth than Titan Company | 2 of 12 |
| Companies with faster revenue growth than Titan Company | 10 of 12 |
| Companies whose net profit rose | 9 of 12 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Titan Company's revenue in Q2 FY27?
Revenue from operations was ₹20,614 crore, up 10.1% from ₹18,725 crore in Q2 FY26 (consolidated).
Did Titan Company make a profit in Q2 FY27?
Yes. Net profit was ₹2,393 crore, against a net profit of ₹1,120 crore in Q2 FY26.
What was Titan Company's EPS in Q2 FY27?
Basic earnings per share were ₹26.96, against ₹12.63 in Q2 FY26.
When did Titan Company announce its Q2 FY27 results?
On 5 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consider And Approve The Unaudited Financial Results For The Quarter Ended 30Th September 2026 (BSE, 20 October 2026) · PDF
- Outcome of Board Meeting (NSE, 5 November 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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