Titan Company Ltd delivered a mixed performance in the quarter ending June 30, 2025, with strong growth in watches, fragrances, and international markets offsetting softness in the core jewellery segment due to gold price volatility.Jewellery, Titan’s largest vertical, saw domestic operations grow approximately 18% year-on-year, aided by good traction during Akshaya Tritiya. However, a sharp rise in gold prices from May to mid-June dented consumer sentiment, leading to flat buyer growth in both Tanishq and CaratLane.
In this high-price environment, consumers preferred lightweight and lower karatage jewellery, with plain gold growing in mid-teens and the studded segment in early double digits. Like-to-like growth in Tanishq remained in early double digits, driven by ticket size expansion.
The watches division clocked a strong 23% YoY domestic growth, led by both volume and value in analog watches. Sonata led the momentum, followed by Titan, Fastrack, and international brands—all of which posted healthy double-digit growth. The segment added nine new stores, including four Titan World and five Helios outlets.
EyeCare grew 12% YoY, driven by gains across retail and e-commerce channels. However, the net store count fell by 20, as 12 new Titan Eye+ outlets opened while 32 were shuttered.Also read: P N Gadgil Jewellers Q1 revenue rises 2.8% YoY, retail segment up 19.4%

Emerging businesses witnessed strong traction, with fragrances up 56% YoY led by SKINN and Fastrack, women’s bags up 61%, and Taneira rising 15% on value-led growth in sarees.

The international business was a standout, surging 49% YoY, led by nearly doubling of Tanishq’s business in the US. Titan added one new store each for Tanishq and Titan Eye+ in the UAE, while one Mia store was closed in the region.

Overall, Titan added nine new domestic stores and one international outlet in Q1, taking the total store count to 3,322.

Ahead of the earnings release, Titan’s stock closed at ₹3,670 on the NSE, down 0.46% on Friday. The numbers are provisional and subject to review by statutory auditors.

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Titan’s Q1 lifted by 49% jump in international biz; gold volatility weighs on jewellery growth

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