Q2FY27 quarterly update: consumer businesses up c.25% YoY, 78 net stores added

Titan's quarterly update for Q2 FY 2026-27.

Tue 6 Oct 2026

Consumer Businesses Growth

c.25% YoY

Net Store Additions / Total Network

78 net stores added; total network now 3,758 stores

Segment YoY Growth

Jewellery 21%, Watches 30%, EyeCare 28%, CaratLane 32%, International 97%

What this update is

A quarterly business update for Q2 of FY 2026-27, giving year-on-year growth rates and store counts for the period ended 30th Sep'26. The company states the information is provisional and subject to Limited Review by its Statutory Auditors. Growth percentages are rounded to the nearest integer, and the metrics exclude Bullion and Digi-gold sales.

The headline numbers

• Consumer Businesses: c.25% YoY growth in Q2FY27
• Net store additions in the quarter: 78
• Total stores as of Sep'26: 3,758

Segment-wise YoY growth

• Domestic: 22%
• Jewellery: 21%
• Tanishq, Mia, Zoya, beYon: 20%
• CaratLane: 32%
• Watches: 30%
• EyeCare: 28%
• Emerging Businesses: 21%
• International: 97%

Store network as of Sep'26

Domestic 3,594 stores; Jewellery 1,269; Tanishq, Mia, Zoya, beYon 875; CaratLane 394; Watches 1,379; EyeCare 847; Emerging Businesses 99; International 164. Net additions in the quarter were 42 for Jewellery, 34 for Watches, 29 for Tanishq/Mia/Zoya/beYon, 13 for CaratLane, 1 for Emerging Businesses and 1 for International; EyeCare made no net additions.

Jewellery

The portfolio (all brands) clocked c.21% YoY growth for the quarter. Consumer demand was healthy for most of the quarterly period, with some softening towards the close owing to a shift in the festive calendar to Q3FY27. Aided by the 'Festival of Diamonds' and brand-level promotions, studded jewellery grew strongly in the early thirties, while plain gold jewellery grew c.20% YoY. Investment-led coins demand tapered off a high base, resulting in a high single-digit decline YoY. Buyer growth at a portfolio level came in mid-single digits, with average ticket sizes seeing double-digit growth in this period.

Watches

The business recorded a robust c.30% YoY growth for the quarter. Riding on strong premiumisation trends, analog watches clocked healthy growth in the early thirties. The smart watches business saw a recovery with encouraging high single-digit growth for the quarter.

EyeCare

The division delivered growth of c.28% YoY, driven by focused execution across key strategic priorities. The company attributes this to a multi-brand approach, continuous upgradation of the existing store network and a sharper merchandise portfolio.

Emerging Businesses

Fragrances clocked mid-thirties growth YoY, Women's Bags grew in the twenties YoY, and Taneira's growth was in high single digits YoY.

International

The jewellery businesses of Tanishq, Mia and CaratLane (combined) continued their strong double-digit momentum in North America. The GCC business held up well in a volatile geopolitical environment and is recording improving growth for Tanishq, with Damas showing early signs of recovery. The International Business includes metrics of Damas Jewellery (67% holding), consolidated into Titan effective Jan'26.

What a reader can take away

Growth is broad-based across the reported segments, led by International at 97%, CaratLane at 32% and Watches at 30%. The two softer spots mentioned are the investment-led coins demand, which declined in high single digits off a high base, and the easing of demand towards the end of the quarter as the festive calendar moved to Q3FY27.

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