Titan Company Ltd. Q3 FY2026 results: revenue ₹25,416 crore, up 43.3% on the year
Titan Company Ltd. (TITAN) reported consolidated revenue from operations of ₹25,416 crore for Q3 FY2026, the quarter ended 31 December 2025, up 43.3% on the same quarter a year earlier. Profit after tax was ₹1,684 crore, up 60.8% on the year, and earnings per share ₹18.98. The figures are the company's own, from the un-audited results it filed with NSE on 10 February 2026.
The quarter, against the one before and a year earlier
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Revenue from operations | 25,416 | 18,725 | 17,740 | +43.3% |
| Other income | 151 | 112 | 128 | +18.0% |
| Total income | 25,567 | 18,837 | 17,868 | +43.1% |
| Cost of materials consumed | 16,059 | 20,601 | 9,666 | +66.1% |
| Purchases of stock-in-trade | 3,279 | 2,634 | 1,895 | +73.0% |
| Changes in inventories | 1,049 | -8,526 | 2,522 | -58.4% |
| Employee benefit expense | 646 | 616 | 555 | +16.4% |
| Finance costs | 282 | 277 | 231 | +22.1% |
| Depreciation, depletion and amortisation | 207 | 189 | 175 | +18.3% |
| Other expenses | 1,265 | 1,117 | 1,428 | -11.4% |
| Total expenses | 23,192 | 17,316 | 16,472 | +40.8% |
| Profit before exceptional items and tax | 2,375 | 1,521 | 1,396 | +70.1% |
| Exceptional items | -152 | 0 | 0 | n/a |
| Profit before tax | 2,223 | 1,521 | 1,396 | +59.2% |
| Current tax | 556 | 403 | 354 | +57.1% |
| Deferred tax | -17 | -1 | -5 | n/a |
| Total tax | 539 | 402 | 349 | +54.4% |
| Profit after tax | 1,684 | 1,120 | 1,047 | +60.8% |
| Attributable to owners of the parent | 1,684 | 1,120 | 1,047 | +60.8% |
| Other comprehensive income | 18 | -66 | -3 | n/a |
| Total comprehensive income | 1,702 | 1,054 | 1,044 | +63.0% |
| EPS, basic | ₹18.98 | ₹12.63 | ₹11.80 | +60.8% |
| EPS, diluted | ₹18.97 | ₹12.62 | ₹11.80 | +60.8% |
₹ crore except per share.
Leverage, as the company states it
| Line | Q3 FY2026 | Q2 FY2026 | Q3 FY2025 | Change on the year |
|---|---|---|---|---|
| Debt to equity | 0.74 | 0.97 | 0.01 | |
| Debt service coverage | 0.84 | 1.42 | 0.00 | |
| Interest service coverage | 16.99 | 11.57 | 0.12 |
Debt to equity, debt service coverage and interest service coverage are the figures the company prints in its result statement under the listing regulations.
Segments, Q3 FY2026
| Segment | Revenue ₹ crore | Share of segment revenue | Result ₹ crore | Result over revenue |
|---|---|---|---|---|
| Watches | 1,295 | 5.1% | 156 | 12.0% |
| Jewellery (refer note 4) | 23,492 | 91.9% | 2,475 | 10.5% |
| Eyecare | 231 | 0.9% | 24 | 10.4% |
| Others | 457 | 1.8% | 10 | 2.2% |
| Corporate (unallocated) | 92 | 0.4% | -8 | -8.7% |
Segment revenue and segment result as the company filed them, before inter-segment eliminations; share and result over revenue are arithmetic on those.
Quarterly results, the last 12 quarters
| Q1 FY2024 | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | Q3 FY2026 | Q4 FY2026 | Q1 FY2027 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 11,897 | 14,164 | 12,494 | 13,266 | 14,534 | 17,740 | 14,916 | 16,523 | 18,725 | 25,416 | 26,920 | 21,356 |
| Expenses | 11,009 | 12,922 | 11,662 | 12,413 | 13,709 | 16,472 | 13,814 | 15,148 | 17,316 | 23,192 | 25,579 | 19,075 |
| Operating profit | 1,126 | 1,565 | 1,191 | 1,247 | 1,236 | 1,674 | 1,537 | 1,830 | 1,875 | 2,713 | 1,937 | 2,890 |
| OPM % | 9% | 11% | 10% | 9% | 9% | 9% | 10% | 11% | 10% | 11% | 7% | 14% |
| Other income | 114 | 136 | 159 | 120 | 122 | 128 | 116 | 105 | 112 | 151 | 184 | 146 |
| Interest | 109 | 169 | 201 | 230 | 240 | 231 | 252 | 271 | 277 | 282 | 350 | 353 |
| Depreciation | 128 | 154 | 158 | 164 | 171 | 175 | 183 | 184 | 189 | 207 | 246 | 256 |
| Exceptional items | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -152 | 51 | 0 |
| Profit before tax | 1,002 | 1,378 | 991 | 973 | 947 | 1,396 | 1,218 | 1,480 | 1,521 | 2,223 | 1,576 | 2,427 |
| Tax % | 25% | 24% | 22% | 26% | 26% | 25% | 28% | 26% | 26% | 24% | 25% | 27% |
| Net profit | 756 | 1,053 | 771 | 716 | 704 | 1,047 | 871 | 1,091 | 1,120 | 1,684 | 1,179 | 1,777 |
| EPS in ₹ | ₹8.48 | ₹11.91 | ₹8.68 | ₹8.06 | ₹7.94 | ₹11.80 | ₹9.82 | ₹12.30 | ₹12.63 | ₹18.98 | ₹13.00 | ₹20.03 |
| Filing | NSE | NSE | NSE | NSE | NSE | NSE | Filing | Filing | Filing | Filing | Filing | Filing |
₹ crore except per share, consolidated, as filed with the exchange. Operating profit is sales less the expenses other than interest and depreciation, OPM is that over sales, and tax % is tax over profit before tax: arithmetic on the filed lines; everything else is as filed. Quarters before December 2024 are from the exchange's earlier results feed, which carries the filed lines without the filing itself; the column links to the exchange's page for the company.
Source
Un-audited consolidated results for the quarter ended 31 December 2025, filed with NSE on 10 February 2026: the result statement. All of Titan Company Ltd.'s results: NSE company page.
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