Titan Company Ltd — FY25 / Early FY26 Financial Performance & Segment Highlights

Revenue & Full-Year Performance Titan crossed ₹50,000 crore in total consolidated income in FY25, with revenue growing ~22% year-on-year. For FY25, total income was about ₹57,818 crore, up from ~₹47,501 crore in FY24. EBIT for the year rose about 5% to ₹5,488 crore. Profit Before Tax (PBT) fell slightly (≈ 2%) to ₹4,535 crore, largely due to changes in custom duties on gold. Profit After Tax (PAT) also dropped, to ₹3,337 crore from ~₹3,496 crore, a decline of around 5-6%. Q4 FY25 & Latest Quarterly Trends In Q4 FY25, total income was ~₹14,049 crore, up ~22-23% YoY. Profit Before Tax (Q4) rose ~23% to ~₹1,218 crore. Profit After Tax in Q4 grew ~13% to ~₹871 crore. Jewellery (Tanishq, Mia, Zoya) was the prime growth driver: in Q4 its revenues rose ~25%, with ~30% growth in gold jewellery & coins and ~12% growth in studded jewellery. Meanwhile, Watches & Wearables also showed healthy growth (~20% YoY in Q4), and the Eyecare business returned to stronger growth. The Emerging/Lifestyle segments (Fragrances, Accessories, etc.) remained small and had mixed performance. Margin, Segment Performance & Cost Pressures Margin pressures emerged due to the customs duty reduction on gold, which affected inventory valuation and PBT. Jewellery segment margin (EBIT) was ~11.9% in Q4, which is good, but some headwinds from gold price increases and cost fluctuations are evident. Watches & Eyecare have improved margin profiles. Emerging businesses are still not delivering strong profitability, with some losses or modest returns. Outlook & Strategic Moves Titan is expanding its international presence (new stores abroad), continuing premiumisation in its product range, and pushing growth in non-jewellery verticals. For FY26, the company seems focused on regaining or maintaining margin stability, leveraging operating scale, and benefiting from the duty regime.