New Delhi, April 8 Jewellery and watch maker Titan Co Ltd has registered a 46 per cent growth in its revenue during the March quarter of FY26, driven by soaring gold prices, according to the company's latest quarterly update.
This is the second consecutive quarter in which the Tata Group-managed firm has reported a remarkable 40 per cent revenue growth. The company recorded a 40 per cent growth in standalone revenue during the October-December quarter of FY26.
The jewellery division, which contributed around 85 per cent of its revenue, "achieved a strong quarter, recording 46 per cent year-on-year growth in Q4FY26," Titan said in its quarterly updates.
Despite a significant increase in gold prices, the jewellery business recorded "high single-digit buyer growth in Q4FY26" after experiencing nearly flat growth in the preceding three quarters.
The average transaction size also increased considerably, contributing to revenue growth in the quarter, it said.
Within the category, studded jewellery grew in "the early thirties, plain gold (jewelry) recorded growth in the mid-thirties, and coin sales nearly tripled compared to Q4FY25," it said.
The like-for-like growth across all jewellery retail formats was close to 48 per cent year-on-year.
Moreover, during the quarter, "secondary (consumer) sales were higher, growing by 52 per cent," driven by its flagship jewellery brand Tanishq and supported by another brand Mia, which primarily targets urban working women aged 22–35 years.
"...both (brands) recorded robust growth, compared to Q4FY25," it said.
During the review period, Titan's jewellery business added 27 new stores in India, with 8 in Tanishq, 14 in Mia, and 5 in CaratLane.
In FY25, Titan's revenue from operations, a joint venture between the Tata group and the Tamil Nadu government, was at Rs 57,339 crore, with its jewellery division contributing Rs 46,571 crore, which was 81 per cent higher year-on-year.
Its domestic watch division reported a growth of 7 per cent YoY.
Titan reported a growth of 16 per cent in analog watches. However, its smartwatch category reported a decline of 53 per cent.
Growth in analog watches was driven by Titan, Sonata, and international brands, reflecting sustained consumer interest in both premium and entry-level products, while premiumization trends contributed to healthy transaction size increases in the quarter, the company said.
The watch division added 30 new stores, including 17 in Titan World, 7 in Fastrack, 4 in Helios, and 2 in Helios Luxe.
Titan's eye care business grew 16 per cent annually, driven by healthy momentum from previous quarters and fueled by growth in international brands across product categories of sunglasses, lenses, and frames.
The eye care division continued to optimize its network by renovating 37 stores, closing 32 stores, and adding 12 new stores during the quarter.
In emerging businesses, the fragrance category grew 30 per cent, driven by double-digit volume growth in Fastrack and Skinn brands.
The women's bags category grew 47 per cent, driven by network expansion and healthy volume growth in both Irth and Fastrack brands.
However, sales of the Indian dress business, Taneira, declined by 1 per cent, while it closed 1 store during the period.
Titan's international business, including Damas (a jewellery chain in Dubai, in which it acquired a majority stake in July 2025), grew 156 per cent year-on-year.
Titan's international businesses include Tanishq, Mia, and CaratLane. In the March quarter, "Titan's North American business continued its strong momentum, recording 50 per cent YoY growth," it said.
"As of March '26, Titan's international retail network spans 149 stores in the GCC region, 12 stores in North America (Tanishq – 10 stores, CaratLane – 2 stores, including 1 opened during the quarter in Dallas, USA), and 1 Tanishq store in Singapore," it said.
Titan is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO).