CALCULATE YOUR SIP RETURNS

Titan Shares Rose Over 2% After Releasing Q3 FY25 Business Update

Updated on: Jan 6, 2025, 5:02 PM IST
Titan’s combined retail network (including CaratLane and International) increased by 69 net stores, reaching a total of 3,240 stores.
Titan Shares Rose Over 2% After Releasing Q3 FY25 Business Update
ShareShare on 1Share on 2Share on 3Share on 4Share on 5

On January 6, 2025, Titan Company Limited released its business update for the quarter ended December 2024 (Q3 FY25), wherein it recorded a growth of 24% YoY in sales. During Q3 FY25, the company’s combined retail network (including CaratLane and International) expanded by 69 net stores, reaching a total of 3,240 stores.

Jewellery Business

The domestic jewellery segment grew approximately 25% year-on-year (YoY), fueled by strong festive demand. During Diwali, the company saw solid consumer traction, translating into high single-digit growth in buyers and double-digit growth in ticket sizes. Plain gold experienced particularly strong momentum, growing around 24% YoY, benefiting from higher gold prices and increased festive and wedding purchases. Gold coin sales surged by approximately 48% YoY, reflecting consumer preference for gold as an investment and increased purchases during the festive occasion of Dhanteras.

The studded category grew by approximately 21% YoY, recording its highest quarterly performance to date for FY25. Several growth drivers, including ‘Rivaah’, Gold Exchange, Golden Harvest, high-value studded offerings, and blockbuster festive collections, supported by multiple brand campaigns, contributed to a robust like-to-like (L2L) sales growth of about 22% YoY. Tanishq (International) opened new stores in Seattle (USA) and Gold Souk (Dubai). In India, 24 new stores were added (net), with 11 in Tanishq and 13 in Mia.

Watches & Wearables Business

The domestic Watches & Wearables segment grew approximately 13% YoY. Analog watches continued to show strong growth, rising around 19% YoY, driven by festive demand and premiumization trends. Consumers showed a clear preference for higher-end timepieces, as seen in the growth of Titan, Edge, Xylys, and international brands through the Helios channel. The wearables category, however, declined by about 20% YoY, reflecting broader market challenges in the smart wearables segment and reduced consumer spending in the entry and mid-segment price points. The division added 23 new stores, including 12 in Titan World, 10 in Helios, and 1 in Fastrack.

EyeCare Business

The domestic EyeCare segment grew a healthy 17% YoY, driven by both retail and e-commerce growth in terms of revenue and buyers. International brands and affordable fashion contributed significantly to the overall product mix. Titan Eye+ closed a net total of 3 stores in India during the quarter.

Emerging Businesses

In the Emerging Businesses segment, Fragrances saw a strong growth of approximately 27%, while Fashion Accessories declined by about 20%, and Taneira remained flat YoY. ‘IRTH’ opened its first women’s bags outlet at Phoenix Palladium in Mumbai and another store in Chennai. Taneira added one store in Salem during the quarter.

CaratLane Performance Update

CaratLane grew by approximately 25% YoY, driven by a 26% YoY growth in the studded portfolio. The number of buyers grew by 8% YoY, and L2L growth stood at a healthy 16% YoY. The brand also opened its first international store in New Jersey, USA, and added 19 new domestic stores (net), expanding its presence in India to 305 stores.

On January 6, 2025, Titan shares opened at ₹3460.25 and touched the day high of ₹3527.20 at 09:45 AM.

 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.

Investments in securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jan 6, 2025, 9:47 AM IST

We're Live on WhatsApp! Join our channel for market insights & updates

Open Free Demat Account!

Join our 2.5 Cr+ happy customers

+91
Enjoy Zero Brokerage on Equity Delivery
4.4 Cr+DOWNLOADS
Enjoy ₹0 Account Opening Charges

Get the link to download the App

Get it on Google PlayDownload on the App Store
Open Free Demat Account!
Join our 2.5 Cr+ happy customers