Titan Company (TITAN) Q2 26/27 earnings summary

Executive summary

• Q2FY27 consolidated total income rose 25% YoY to ₹20,533 crore, with growth across jewellery, watches, EyeCare, TEAL and international operations.

• Consumer demand held up despite a strong prior-year base and festive demand shifting into Q3FY27.

Financial highlights

• Q2 consolidated EBIT rose 59% YoY to ₹2,865 crore, PBT increased 53% to ₹2,329 crore and PAT rose 54% to ₹1,722 crore; PBT excluding customs-duty gains was ₹1,793 crore.

• H1FY27 total income increased 32% to ₹41,286 crore; EBIT rose 59% to ₹5,647 crore and PAT increased 58% to ₹3,499 crore.

• Q2 customs-duty gains totaled ₹536 crore: ₹490 crore in domestic jewellery and ₹46 crore at CaratLane.

• Consolidated Q2 reported EBIT margin was 14.0%, up 299 bps YoY; PAT margin was 8.4%.

Outlook and guidance

• FY27 jewellery margin stance remains around 11%, with growth prioritized and no change to the margin position during FY27.

• Buyer growth is a primary growth lever; accessible lightweight, 18-carat and 14-carat studded jewellery is intended to broaden the buyer base.

• Continued investment in innovation, brand equity, customer engagement and retail; TEAL cited a healthy order pipeline and opportunities in aerospace, electronics, semiconductors and new energy.