National News
Titan Shares Gain as Q2 Profit Soars 59% YoY to ₹1,120 Crore; Jewellery Sales Shine, Morgan Stanley Sets ₹3,953 Target Price
Early festive demand and robust performance across Tanishq, CaratLane, and Zoya fuel Titan’s record quarterly results; analysts remain bullish on sustained growth momentum.
Titan Company shares climbed 1.4% to hit an intraday high of Rs.3,781.20 on the BSE on Tuesday, November 4, after the Tata Group lifestyle major reported a stellar 59% year-on-year (YoY) rise in consolidated net profit to Rs.1,120 crore for Q2 FY26. The surge was powered by a strong festive season boost and stellar performance from its jewellery division, which remained the company’s key growth driver.
Total sales rose 22% YoY to Rs..16,461 crore, reflecting broad-based momentum across business segments. EBITDA jumped 51% to Rs.1,799 crore, aided by improved margins and double-digit growth in most categories.
Titan’s jewellery division—comprising Tanishq, Mia, Zoya, and CaratLane—continued to anchor performance, with total income (excluding bullion and Digi-Gold) rising 21% YoY to Rs.14,092 crore. The domestic jewellery segment, including Tanishq, Mia, and Zoya, grew 18% to Rs.12,460 crore, while CaratLane, Titan’s online-first jewellery brand, registered an impressive 32% YoY growth to Rs.1,072 crore. International operations across the UAE and North America nearly doubled revenue to ₹561 crore, underscoring Titan’s expanding global footprint.
The watches and wearables segment also reported solid growth, with total income up 13% YoY to Rs.1,477 crore, driven by robust demand for Titan, Fastrack, and Sonata. EBIT stood at Rs.238 crore, yielding a margin of 16.1%. The analog watches category recorded 17% growth, fueled by higher volumes and average selling prices.
Titan’s eyewear business, operating under the Titan Eye+ brand, saw income rise 9% YoY to ₹220 crore, with EBIT of ₹12 crore and a 5.3% margin. The company expanded its premium eyewear presence by adding five new ‘Runway’ stores during the quarter.
Following the results, global brokerage firm Morgan Stanley reaffirmed its Overweight rating on Titan and set a target price of Rs.3,953. The brokerage said Titan outperformed expectations across revenue, EBITDA, and profit after tax (PAT) metrics, citing continued margin expansion and festive-driven sales strength.
Titan’s consolidated EBITDA margin (excluding bullion) stood at 11.5%, 64 basis points above consensus estimates. The jewellery business posted a robust 19% YoY growth, supported by higher ticket sizes and sustained festive demand, with the company’s gold exchange programme further boosting volumes despite elevated gold prices. CaratLane’s revenue growth of 32% came with a healthy margin of 10.1%.
Among other segments, watches grew 13% YoY with a 16.2% EBIT margin, while eyewear posted 8% growth with a relatively softer 5.5% margin. Morgan Stanley emphasised that festive demand trends and strong consumer sentiment are likely to sustain Titan’s growth momentum in the coming quarters, reinforcing its leadership in India’s lifestyle and jewellery market.
National News
MMTC-PAMP Appoints Sidharth Malhotra As Brand Ambassador
As Part Of The Association, Sidharth Will Lead MMTC-PAMP’s New Integrated Campaign, ‘Purest And More,’ Showcasing The Brand’s Expanding Portfolio Across Physical Precious Metals, Digital Investments and Responsible Gold Recycling.
MMTC-PAMP, India’s only London Bullion Market Association (LBMA)-accredited Good Delivery Gold & Silver refiner, today announced acclaimed actor Sidharth Malhotra as its Brand Ambassador, marking a significant milestone in the brand’s journey to strengthen its connection with a new generation of consumers. As part of the association, Sidharth will lead MMTC-PAMP’s new integrated campaign, ‘Purest And More,’ showcasing the brand’s expanding portfolio across physical precious metals, digital investments and responsible gold recycling.
The integrated campaign showcases MMTC-PAMP’s complete ecosystem, from 24K 999.9+ purest gold and silver coins and bars to digital gold and silver, gold recycling, online purchasing and assured buyback services. Through relatable, everyday moments and festive celebrations, the campaign reinforces MMTC-PAMP’s position as India’s most trusted precious metals brand while making gold ownership more relevant, accessible and convenient for today’s consumers.
Announcing the association, Samit Guha, Managing Director and CEO, MMTC-PAMP said:
“We are delighted to welcome Sidharth Malhotra to the MMTC-PAMP family. Sidharth has built a strong reputation through authenticity, credibility and a modern outlook—qualities that closely reflect the values of our brand. As one of India’s most admired and influential actors, he enjoys a deep connect across generations, making him an ideal ambassador as we continue expanding the reach of MMTC PAMP among both seasoned investors and first-time buyers.
This partnership comes at an exciting phase in our growth as we continue to redefine precious metals ownership through innovation, responsible sourcing and world-class quality. Through our ‘Purest And More’ campaign, we are showcasing how MMTC-PAMP today offers far more than physical gold—from digital investments and online buying to gold recycling and assured buyback—while remaining uncompromising on purity and trust.”
The campaign film unfolds through a series of relatable family moments around a wedding celebration, with Sidharth naturally introducing consumers to MMTC-PAMP’s diverse offerings. The storytelling highlights that every MMTC-PAMP offering is backed by the brand’s commitment to purity, trust and convenience while reinforcing its promise of “Purest And More.”
Speaking on the association, Sidharth Malhotra said:
“MMTC-PAMP has built a remarkable reputation for purity, trust and innovation, while also modernising the way people invest in and experience precious metals. Whether it’s celebrating life’s milestones, building long-term wealth or embracing more responsible choices through recycled gold, the brand continues to stay relevant for today’s consumers. I’m excited to be part of this journey and look forward to connecting with people through the ‘Purest And More’ campaign.”
The association brings together one of India’s most recognised actors with one of the country’s most trusted precious metals brands at a time when consumer interest in certified physical gold, digital gold and sustainable precious metals solutions continues to grow. With Sidharth Malhotra as the face of the brand, MMTC-PAMP aims to further strengthen its leadership position while deepening engagement with a younger, digitally connected audience.
The campaign will be amplified across television, digital platforms, social media, print, retail stores and e-commerce channels, with dedicated creatives highlighting key offerings including digital gold and silver, festive gifting, Virasat recycled gold, Akshaya Tritiya, Diwali and MMTC-PAMP’s certified purity credentials.
Link to the TVC (YouTube):
Link to the TVC (Instagram):https://www.instagram.com/p/DciH4s7tim5//
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