Rekha Jhunjhunwala, custodian of without a doubt one of India’s most influential investment portfolios, saw her notional wealth in Titan Firm swell to a staggering Rs 20,000 crore on Wednesday as the stock surged over 4% to hit a new document excessive following the firm’s web Q3 industry change.
Titan shares jumped as valuable as 4.5% to a new excessive of Rs 4,300 on the BSE after the firm’s overall person companies posted round 40% year-on-year (YoY) growth, driven by web festive query and persisted premiumisation trends. Rekha at this time owns a 5.32% stake in Titan.
For the length of the quarter, Titan’s world industry surged seventy nine% YoY, while home operations grew 38% YoY. The firm also expanded its retail footprint by in conjunction with 56 accept contemporary stores, taking its whole store count to three,433.
Q3 industry highlights
Titan’s jewellery division delivered a standout efficiency in Q3 FY26, recording 41% YoY growth, supported by web festive and wedding query. Bigger moderate promoting costs, aided by elevated gold costs, helped offset largely flat purchaser growth. Place a question to became as soon as sustained beyond the festive length via Tanishq’s gold change provides. Gold coin sales virtually doubled versus Q3 FY25, while undeniable gold jewellery recorded web growth in the excessive-thirties, reflecting rising desire for own-led choices.
Studded jewellery delivered its most productive efficiency of FY26, posting mid-twenties double-digit growth. Admire-to-like growth all the map via jewellery formats stood in the low-thirties. For the length of the quarter, Titan added 47 accept jewellery stores in India all the map via Tanishq, Mia, Zoya, beYon and CaratLane.
The watches division reported 13% YoY growth, led by a web 17% YoY growth in analogue watches at some point of the festive length. Premiumisation trends supported the Titan ticket, while Sonata and Fastrack delivered sturdy double-digit imprint growth on the help of healthy volumes.
Titan EyeCare posted a 16% YoY growth, with both world and in-rental brands contributing meaningfully. Stable query for shades and prescription lenses supported world ticket growth, while e-commerce persisted to enable omni-channel expansion. For the length of the quarter, the division added 11 contemporary stores, renovated 20, and closed 30 as section of community optimisation. Furthermore, two contemporary Runway top class sunglass stores had been opened.
The fragrances industry grew 22% YoY, driven by web double-digit quantity growth in Fastrack and Skinn, with moderate promoting costs largely web. Females’s baggage recorded a pointy 111% YoY growth, supported by virtually twofold quantity growth and healthy double-digit ASP will improve all the map via Fastrack and Irth.
Global operations, led by jewellery brands Tanishq, Mia and CaratLane, grew 81% YoY, supported by web query all the map via the GCC, Singapore and North The USA. For the length of the quarter, Tanishq added two contemporary stores in North The USA, positioned in Boston and Orlando.
Brokerage behold
Nomura, following the change, reiterated its Purchase name and the target imprint of Rs 4,500. That’s an upside of virtually 10% from newest market levels. “We look Titan as a key beneficiary of the rising affluent and elite earnings population in India, with sales growth at 1.5-2x GDP over the medium length of time,” the brokerage said in a demonstrate earlier today.
Titan is without a doubt one of the sooner-increasing jewellery gamers and has gained section from 5% in FY19 to 8% in FY24. We query it to proceed to develop sooner than the industry and produce section to 10% by FY28F from unorganised gamers (60% of the industry) as it deepens its store attain in Tier 2, 3, 4 cities and as customers shift to organised gamers searching out correct carat-age, better designs and expertise.
(Disclaimer: Suggestions, suggestions, views and opinions given by the consultants are their very own. These develop no longer picture the views of The Economic Cases.)
