Titan Company delivered impressive financial results for Q4 and FY26, with consolidated net profit rising 35% year-on-year to around ₹1,179 crore and total income surging 46% to around ₹20,300 crore. According to reports from Moneycontrol, this growth was primarily driven by continued momentum in the jewellery business and resilient demand in the watches segment. The company's jewellery portfolio demonstrated remarkable resilience, growing 50% year-on-year to around ₹18,195 crore during the quarter, excluding bullion and digi-gold sales, despite elevated gold prices. However, as reported by CNBC TV18, Titan's fourth quarter revenue was above expectations, but margins declined from last year, and gross margins also narrowed, with numbers below street expectations despite the stock surging after results.
During his address in Hyderabad at a public event, PM Modi appealed to citizens to not purchase gold for weddings for a period of one year, along with other measures such as re-introducing work from home culture and avoiding unnecessary travel. This appeal comes as India is the world's second-largest gold consumer, having imported an average 60 tonnes per month of gold during financial year 2026, averaging a monthly cost of $6 billion. According to Reuters, banks have halted shipments as Indian customs began to demand a 3% integrated GST, with jewelers beginning to source imported gold from the India International Bullion Exchange (IIBX) although volumes remain small. As reported by Moneycontrol, Ajoy Chawla, managing director of Titan Company, explained that people have started accepting gold at current levels, with the small cool-off period helping bring back demand.
According to Moneycontrol, Arun Narayan, chief executive officer of the jewellery division, reported a resurgence in buyer growth of 8% versus a flattish trend for the period prior. The company identified two clear buyer categories: those who were waiting on the sidelines as prices increased and advancement in wedding purchases due to buyer anxiety about further price increases. The India business income rose 46% to ₹17,114 crore, while the international jewellery business grew 174% to ₹1,081 crore during the quarter. As reported by CNBC TV18, Titan shares had ended 5% higher on Friday after its results and hit a 52-week high, while Kalyan Jewellers shares also ended with gains of 3.5% after announcing results.
As reported by Moneycontrol, Titan has undertaken several measures to enhance demand, including old-gold exchange programmes and introduction of 18 carat and 14-kt studded jewellery. The company launched the lab-grown focused brand BeYon during the December quarter and plans to expand to 10-12 stores in 2-3 cities, currently operating at two stores. The company completed the acquisition of a 67% stake in Damas Jewellery, adding 123 stores to its network as part of international expansion strategy. According to CNBC TV18, Kalyan Jewellers is geared up for Akshaya Tritiya, Poila Boishak, Baishakhi, Rath Yatra & Raja Parba in Odisha and the summer wedding season in the first quarter of financial year 2027, with plans to launch 20-25 stores in the new financial year.
According to Moneycontrol, the company addressed concerns about gold sourcing delays due to import licence issues, with CFO Ashok Kumar Sonthalia stating that while slowness is visible, the company is covered for the June quarter. The gold exchange programme has been running successfully since Q3 last year and can be further expanded if needed. Looking ahead, the company remains positive about GCC operations beyond two to three quarters, despite current unpredictability in the region. As reported by CNBC TV18, Titan also said it is conscious of the macro volatility and the fragile geopolitical situation.
