Titan Company has released the transcript of its Q2 FY’26 earnings conference call held on November 4, 2025. The call discussed the company’s unaudited financial results (standalone and consolidated) for the quarter and half-year ended September 30, 2025. Key executives addressed questions regarding consumer behavior, gold prices, buyer growth strategies, store expansions, and outlook for various segments including jewellery, watches, and eyewear.
Earnings Call Highlights
The earnings call transcript provides insights into Titan Company’s performance and strategies for the second quarter of fiscal year 2026. Key discussion points include:
- Consumer behavior in response to rising gold prices.
- Strategies to stimulate buyer growth, including gold exchange campaigns and focus on lower carat offerings.
- Performance of various business segments, including jewellery, watches, and eyewear.
- Store expansion plans and focus on renovating existing stores.
Jewellery Segment
Ajoy Chawla noted a holdback in consumer spending during the meteoric rise of gold prices, with fence-sitters jumping in during the festive season, particularly in the mid- to higher-price bands. He also highlighted a marginal increase in studded buyer growth compared to gold jewellery buyer growth. The company is focusing on populating price points in the sub INR 1 lakh range and introducing lower caratage options to stimulate buyer demand.
Watches and Wearables Segment
Kuruvilla Markose mentioned that the festive period saw a 16% growth compared to the previous year, driven by premiumization and new launches like Jalsa, Stellar, and Edge Ultraslim. The division is focusing on premiumizing its brands and expanding the presence of Helios and Helios Luxe stores.
Eyewear Segment
N. S. Raghavan stated that the eyewear segment is estimated to close the year at a growth rate between 13% to 14%. The company is investing in transitioning from a brick-and-mortar model to an omni-channel approach and leveraging marketing investments to create more aspiration for the brand. They are focusing on both vision and fashion, ensuring a good consumer experience.
Strategic Initiatives
Titan Company is implementing a gold exchange campaign to stimulate buyer demand and contribute to the country. The company is also focusing on absolute growth in profits by gaining market share, and maintaining margins within the guided range. They are working to optimize various levers to drive business growth while managing costs effectively.
Q&A Session Insights
During the Q&A session, executives addressed questions on various topics, including the impact of rising gold prices on margins, store opening targets, and competitive intensity in the jewellery market. They also discussed the potential of Lab Grown Diamonds (LGDs) and the performance of high-value studded jewellery.
Source: BSE
