Titan Company sees 25% Q2 growth.........

Titan Company Limited reported 25% year-on-year growth in consumer businesses in Q2 FY27. The company added 78 net stores, taking its retail network to 3,758. Jewellery remained a key driver, growing about 21%, while watches and eyewear also delivered strong growth. Domestic businesses grew 22%, while international operations rose 97%. The key point is that growth was supported by both premiumisation and network expansion. Average jewellery ticket sizes increased in double digits, while buyer growth remained in the mid-single digits. This suggests higher spending per customer is supporting revenue growth, rather than growth coming only from customer additions. My view is constructive on the operating update, but the next result needs to show whether this momentum is translating into earnings growth. I will watch the September-quarter financial results and margin performance.