Titan Company (TITAN) Q4 24/25 earnings summary

Executive summary

• Delivered strong performance across segments and geographies, achieving 22% revenue growth in FY25 and surpassing ₹50,000 crore in annual revenues despite challenging gold prices and discretionary consumption pressures.

• Innovation, execution excellence, and partner network contributed to robust results, with Analog Watches and EyeCare returning to double-digit growth and Fragrances and international expansion showing strong momentum.

• Focus for FY26 is on market share expansion and adapting to evolving consumer needs.

Financial highlights

• FY25 consolidated revenue rose 21.7% YoY to ₹57,818 crore; Q4FY25 revenue up 22.5% YoY to ₹14,049 crore.

• FY25 consolidated EBITDA grew 6.1% YoY to ₹6,180 crore; EBIT margin at 9.5%-9.6%; PAT margin at 5.8%.

• Dividend per share maintained at ₹11.00 for FY25, with a total payout of ₹977 crore.

• Working capital increased due to higher gold prices and inventory upstocking at year-end.

Outlook and guidance

• Margin guidance for jewelry remains at 11%-11.5% due to gold price and market uncertainties.

• All business segments targeting further market share gains in FY26, with EyeCare and Fragrances expected to sustain double-digit growth and international expansion in North America and GCC.

• Targeting healthy double-digit sales growth (15%-20%) for FY26, driven by ticket size and/or buyer growth.

• 40-50 new Tanishq stores planned for FY26, with 50-60 existing stores to be renovated or expanded.