Titan FY26 ends with scale, mix shifts, and disciplined execution

Titan reported consolidated total income excluding bullion and digi-gold of 76,078 crore in FY26.

Jewellery total income was 18,195 crore in Q4FY26, up 50.2% YoY; total jewellery EBIT was 1,820 crore with a 10.0% margin.

FY26 consolidated PAT was 5,073 crore and the board recommended a dividend of 15.00 per equity share (face value 1).

Titan acquired 67% of Damas; Damas operates 123 stores across UAE, Saudi Arabia, Qatar, Kuwait, Bahrain and Oman.

Management said they intend to expand beYon to around 10 to 12 stores in two to three cities before considering a national launch.

Management attributed the increase primarily to inventory management linked to the gold exchange program and said there is no profit angle as it is inventory optimisation.