Titan Q2FY27 update: Consumer businesses grow 25% YoY, jewellery up 21%

Titan Company's consumer businesses recorded 25% year-on-year growth in the second quarter of FY27, with jewellery, watches and EyeCare reporting a growth of more than 20% each, according to the company's quarterly update.

The company added 78 net stores during the quarter, taking the total store count across its consumer businesses to 3,758 as of September 2026. Domestic businesses grew 22% year-on-year while the international business registered 97% growth, according to the exchange filing.

Jewellery business grows 21%


Titan's jewellery business grew around 21% year-on-year in Q2FY27. Consumer demand remained healthy for most of the quarter, although it softened towards the close as the festive calendar shifted to the third quarter of FY27, the company said.

Studded jewellery grew in the early thirties, supported by the 'Festival of Diamonds' campaign and brand-level promotions, while plain gold jewellery grew around 20% year-on-year. Investment-led demand for coins tapered off from a high base, resulting in a high single-digit decline year-on-year.

At the portfolio level, jewellery buyer growth was in the mid-single digits, while average ticket sizes grew in double digits.

Tanishq, Mia, Zoya and beYon together grew 20%, while CaratLane recorded 32% growth. The jewellery business added 42 net stores during the quarter, taking its total store count to 1,269.

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Watches business grows 30%

Titan's watches business recorded around 30% year-on-year growth in the quarter, continuing to benefit from premiumisation trends.

Analog watches grew in the early thirties, while the smartwatch business recovered with high single-digit growth.

The division added 34 net stores during the quarter, taking its total store count to 1,379 as of September 2026.

EyeCare grows 28%

EyeCare delivered 28% year-on-year growth in Q2FY27, driven by focused execution across key strategic priorities.

Titan said its multi-brand approach, continued upgrades to its existing store network and a sharper merchandise portfolio were meaningfully enhancing the overall customer experience.

The division had 847 stores as of September 2026.

Emerging businesses grow 21%

Titan's emerging businesses grew 21% year-on-year during the quarter.

Fragrances grew in the mid-thirties, women's bags expanded in the twenties, while Taneira posted high single-digit growth.

The segment added one net store during the quarter, taking its total store count to 99 as of September 2026.

International business grows 97%

Titan's international business grew 97% year-on-year in Q2FY27.

The jewellery businesses of Tanishq, Mia and CaratLane continued to report strong double-digit momentum in North America. The GCC business held up well in a volatile geopolitical environment, with Tanishq recording improving growth, while Damas showed early signs of recovery, the company said.

The international business added one net store during the quarter, taking its total store count to 164 as of September 2026.

The international business metrics include Damas Jewellery, in which Titan has a 67% holding and which was consolidated into Titan with effect from January 2026.

Titan share price

Titan shares ended 0.66% lower at Rs 4,550 apiece on the NSE on Tuesday. The stock had closed at Rs 4,580 in the previous session and moved in a range of Rs 4,600 to Rs 4,530.30 during the day.

At the closing price, Titan's market capitalisation stood at Rs 4,03,942.70 crore. The stock's 52-week range is Rs 3,401 to Rs 5,186.70.

Disclosure: This article has been written by Kumar Gaurav, who is not a Sebi-registered Research Analyst or an Investment Adviser. Gaurav and their ‘relative(s)’ (as defined under Section 2(77) of the Companies Act, 2013) do not hold any financial interest in the companies mentioned in this article as of the date of publication. The views/recommendations mentioned in this article, wherever applicable, are those of the respective Sebi-registered Research Analyst/brokerage and have been reproduced/reported with due attribution. They should not be construed as the views or recommendations of The Economic Times Digital or the journalist. Readers are advised to consider the original research report and make their investment decisions based on their own assessment. Brokerage disclaimers here