Jewellery and watch maker Titan Co Ltd on Tuesday reported a whopping 40 per cent annual growth in its standalone revenue during the December quarter of FY26, aided by surging gold prices.

According to the latest quarterly updates, the Tata Group firm said its jewellery division, which contributed around 85 per cent of its business, "clocked a robust 41 per cent YoY growth in Q3FY26".

"Revenue growth was driven by substantial average selling price increases, offsetting flattish buyer growth," the company said.

During the reporting quarter, its flagship jewellery brand Tanishq deployed a gold exchange offer to navigate the elevated gold price environment and sustained consumer engagement beyond the traditional festive window.

About the buying pattern, Titan said "distinct consumer patterns" were observed across product categories.

"Gold coins nearly doubled in sales v/s Q3FY25, reinforcing their strong investment proposition," it added.

The gold (plain) category grew strongly in the late-thirties, reflecting preference for design-led, aesthetic premium offerings during the wedding and festive season.

Studded jewellery also clocked its best performance for FY26, exhibiting healthy "double-digit growth in the mid-twenties" and well supported by buyer growth in the sub-segment. "The like-to-like growths (secondary) across all jewellery retail formats (combined) were in the low-thirties," Titan said.

During the quarter under review, Titan added 47 stores in its jewellery business, taking the total number to 1,167. In this, Titan added 24 stores of CaratLane, a brand which was acquired by the company, taking its total count to 365.

In FY25, revenue from operations of Titan, a joint venture between the Tata group and the Tamil Nadu government, was at Rs 57,339 crore, in which its jewellery division contributed Rs 46,571 crore, up over 81 per cent year-on-year.

Its domestic watch business clocked a growth of 13 per cent, driven by the analogue clock sales, which reported a 17 per cent growth, helped by festive demand.

"Premiumisation trends resulted in solid double-digit gains for the Titan brand, complemented by healthy volume expansion during the festive period," it said.

Its affordable and budget-friendly brands Sonata and Fastrack also witnessed notable consumer traction, delivering robust double-digit value growth supported by strong volume momentum.

However, Titan's "smart watches category declined 26 per cent YoY, led by lower volumes, whereas their ASPs (average selling prices) were broadly flattish YoY".

The division added 22 new stores, consisting of 9 stores in Titan World, 9 stores in Fastrack, 3 in Helios and 1 store in Helios Luxe.

Titan's eye care business grew 16 per cent in domestic sales, contributing well to the overall product mix.

In the emerging businesses, the fragrance vertical grew 22 per cent, led by double-digit volume growth in Fastrack and Skinn brands.

Its women's bags category grew two-fold (111 per cent), led by network expansion. This was "driven by nearly two-fold growth in overall volumes and healthy double-digit ASP growth in Fastrack and Irth brands", the company said.

However, sales of its Indian dresswear business, Taneira, declined by 6 per cent YoY.

"Despite double-digit ASP growth across sarees and the ready-to-wear portfolio, lower volumes more than offset this benefit, resulting in an overall YoY decline," said Titan.

Its international businesses, primarily comprising jewellery (Tanishq, Mia and CaratLane) grew 81 per cent YoY led by robust performance in all the markets of GCC, Singapore and North America (NA).

"During the quarter, Tanishq opened 2 new stores in the NA market, one each in Boston and Orlando," it said.

Courtesy : BS