Titan

Q1 FY 27

Q1 FY27 Consolidated Results YoY: Revenue from operations at 21,356 Cr vs 16,523 Cr, up 29.2%. EBITDA at 3,038 Cr vs 1,935 Cr, up 57.1%. EBITDA Margin at 14.2% vs 11.7%, expansion of 250bps; includes 407 Cr of custom-duty gains, with adjusted PBT growth at 37%. PAT at 1,777 Cr vs 1,091 Cr, up 62.9%. Jewellery was the key driver, with portfolio revenue up 43% to 18,253 Cr and international revenue up 136% to 1,309 Cr, although Damas reported a 67 Cr loss. Watches and EyeCare each grew 21%, while TEAL grew 43% to 438 Cr. Board approved incorporation of a wholly owned Canadian subsidiary to enter the market with Tanishq and approved a performance-based stock unit scheme covering up to 0.17% of equity.