Titan Company records 22% domestic growth in Q2

posted 22 percent YoY domestic revenue growth in Q2 FY27, while the primary jewellery segment grew 21 percent. Revenue growth moderated compared to Q1 FY27 due to a shift in the festive calendar, as Navratri fell in Q2 last year but moved to Q3 this year. Despite this top line moderation, underlying demand remained steady, evidenced by mid-single-digit buyer growth and double-digit growth in average ticket size. The product mix improved during the quarter. Low-margin coin sales declined in the high single digits, whereas high-margin studded jewellery expanded in the early thirties, boosting segment profitability. Network expansion remained active with 75 new stores opened in H1 FY27, bringing the total store count to 1,269. The company also aims to double its domestic jewellery business between FY26 and ***** stock has corrected 14 percent from its August highs, trading at a P/E of 54 times FY28 projected earnings, which sits at a 15 percent discount to its 10-year ***** should watch upcoming Q3 festive and wedding season demand recovery, international scaling in the US and Middle East, and non-jewellery segment ramp-up.