Titan Company’s share price experienced a notable 6.5% surge on April 8, 2025, reaching ₹ 3,222 per share following a robust Q4 FY25 business update. The significant growth in share price came after Titan reported a 25% year-on-year (YoY) revenue growth for the January-March quarter.
In this post, we’ll break down Titan’s impressive financial performance, where it excels, and where it faced some challenges.
Titan’s Q4 performance shows significant growth
Titan reported a 25% revenue increase across multiple business segments in Q4 FY25. This marks a strong recovery for the company, especially given its challenges in the previous year. Despite gold price volatility and other external pressures, the company has maintained a steady growth trajectory.
Here’s a breakdown of Titan’s revenue by business segment:
| Segment | YoY Growth |
| Jewellery | 24% |
| Watches & Wearables | 20% |
| Eyewear | 18% |
| Fragrances | 26% |
| Fashion Accessories | 12% |
| Taneira (Ethnic Wear) | -4% |
| Caratlane (Digital Jewellery) | 22% |
The main growth drivers for Titan have been its jewellery, watches, and eyewear businesses. Despite facing the downside of higher gold prices, Titan’s premium jewellery offerings have continued to perform well, with gold coin sales surging by 65% and plain gold jewellery growing by 27%.
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Jewellery division sees strong performance despite rising gold prices
Titan’s jewellery segment, which remains its largest revenue generator, has posted a 24% YoY growth for Q4 FY25. The sharp rise in gold prices has fuelled growth in plain gold jewellery and gold coins.
However, the rise in prices also impacted the affordability for buyers in lower price brackets, resulting in single-digit growth in the number of buyers. Despite this, average ticket sizes increased significantly, suggesting that buyers were opting for higher-value products.
While studded jewellery grew at a low double-digit rate, the solitaire category saw a remarkable turnaround during the quarter, bouncing back after a period of subdued performance.
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Watches and wearables maintain strong growth
Titan’s watches and wearables business continues to show solid performance, with a 20% YoY increase in Q4 FY25. Key brands like Titan, Fastrack, and Sonata led the charge, with analog watches particularly performing well. The growth was driven by demand across both premium and mass-market segments.
In addition to this, Titan also saw a strong performance in its eyewear business, with an 18% YoY growth, primarily driven by international eyewear brands and by expanding its e-commerce presence.
Emerging businesses like fragrances and Caratlane boost growth
Titan’s emerging businesses performed impressively during Q4 FY25. The fragrance business grew by 26% YoY, thanks to the successful launch of its first experiential store for its ‘SKINN’ fragrance brand in Seawoods, Mumbai. This expansion shows the growing appeal of Titan’s premium brands.
Meanwhile, Caratlane, the company’s digital-first jewellery brand, recorded a 22% YoY growth, driven by strong interest in gold jewellery and its studded collection. Caratlane’s e-commerce strategy has helped it reach a broader customer base, and the company continues to expand with new stores.
Taneira faces challenges with declining sales
While Titan’s overall performance has been stellar, not all of its business segments have done equally well. Taneira, Titan’s ethnic wear brand, recorded a 4% decline in sales during the quarter.
This marks a slowdown for the brand, and Titan also shut down one of its stores in Q4 FY25. However, it’s worth noting that the company has been focused on expanding its premium brands and digital-first offerings, which have helped offset some of these challenges.
Retail network expansion continues
Titan continues to increase its retail footprint. In Q4 FY25, the company added 72 net new stores, bringing its total retail network to 3,312 stores by the end of FY25. This consistent retail expansion reflects Titan’s strategy to grow its presence across both physical and digital channels.
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Titan shares bounce back from 52-week low
Titan’s share price surged by 6.5% to hit ₹ 3,222 per share on April 8, 2025. This marked a recovery from its 52-week low of ₹ 2,947.55. However, despite this recovery, Titan’s stock remains more than 16% below its September 2024 peak of ₹ 3,866.
The company’s stock had a mixed performance in 2025, slipping by 7% year-to-date as of April 2025. Titan’s performance has been volatile, reflecting both positive growth and external challenges. Despite this, analysts remain largely positive on Titan’s long-term prospects. Out of 35 brokerages tracking the stock, 21 have given a “buy” rating, 10 have a “hold”, and 4 have issued a “sell” recommendation.
What’s next for Titan?
Looking ahead, Titan’s continued growth in jewellery, watches, and eyewear, along with its expansion in emerging businesses, positions the company for a strong future. However, it must navigate the challenges posed by rising gold prices and fluctuating demand in its ethnic wear and lower-ticket jewellery segments.
Titan’s expansion in both physical stores and e-commerce platforms continues to build a solid foundation for the company’s continued success in FY26 and beyond. The market is watching closely to see how Titan responds to these challenges and if its growth momentum can continue through the rest of FY25.
