Slides
Page 1
Titan Company Limited Earnings Presentation for the Quarter and Half Year ended September 30, 2026
Page 2
2 Disclaimer This document, prepared by Titan Company Limited (the “Company”/”we”/”our”/”Titan”), is solely for information purposes and does not constitute any offer, invitation, recommendation, invitation to purchase or subscribe to any of Titan’s securities, and shall not form the basis of or be relied on in connection with any contract or binding commitment whatsoever. Certain statements are included in this release containing words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,” “plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will pursue” and similar expressions or variations of these expressions, that are “forward - looking statements”. Actual results may differ materially from those suggested by these forward - looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for our products, our growth and expansion, the adequacy of our allowance for credit to franchisees, dealers and distributors, technological changes, volatility in income, cash flow projections and our exposure to market and operational risks. By their nature, certain market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact on net income could materially differ from those that have been estimated. In addition, other factors that could cause actual results to differ materially from estimates in the forward - looking statements include, but are not limited to, general economic and geo - political conditions in India and the other countries that have an impact on our business activities; inflation, unanticipated variance in interest rates, foreign exchange rates, the prices of raw material including gold and diamonds, or other rates or prices, changes in Indian and foreign laws and regulations, Acts of God, acts of terrorism, acts of war and pandemics, tax and accounting regulations, and changes in competition and the pricing environment in India. The Company may, from time to time make additional written and oral forward - looking statements, including statements contained in the Company’s filings with SEBI and the Stock Exchanges and in our reports to shareholders. The Company does not undertake to update any forward - looking statements that may be made from time to time by or on behalf of the Company, to reflect events or circumstances after the date thereof. 2
Page 3
3 Other Updates Financial Performance Business Performance Executive Summary About the Company The Titan Story Our Journey So Far Our Business Segments Titan Brands Titan Company Structure FUELLED BY IDEAS. SCALING FRONTIERS. About the Company
Page 4
4 v The Titan Story Our Vision We create elevating experiences for the people we touch and significantly impact the world we work in Our Mission We will do this through a pioneering spirit and a caring, value - driven culture that fosters innovation, drives performance, and ensures the highest global standards in everything we do Our Values and Beliefs Customer First Customers take precedence over all else, always People Make the Brand Titanians are at the heart of our success and that is why their dreams and aspirations are at the forefront of our brand policy Culture and Teamwork High Performance is the way of life Passion for Excellence In all our pursuits, we ceaselessly strive for excellence Creativity and Innovation Driven by innovation and creativity, we focus on smarter approaches and newer technologies Corporate Citizenship We ensure that a part of our resources is invested for the betterment of the environment and community 4
Page 5
5 - 2,996 11,343 76,078 FY84 FY87 FY94 FY96 FY98 FY03 FY05 FY07 FY08 FY09 FY11 FY13 FY16 FY17 FY20 FY22 FY26 Our Journey So Far 1984 1987 1994 1996 1998 2003 2005 2007 2008 2009 2011 2013 2016 2017 2020 2022 2026 Company incorporation Jewellery facility inaugrated and Golden Harvest Scheme and Precision Engineering (PED) and Titan E - Commerce Acquisition Demerged PED Gold Plus Tanishq Acqui - hire of HUG Innovations 808 354 Revenue ( ₹ crores) Acquisition
Page 6
6 Titan’s Consumer Businesses (1/2) Jewellery India’s Leading Organised Jewellery Retailer ~8.5 % Market share* 20%+ Digitally Influenced sales Manufacturing Capabilities • Plants in Hosur, Pantnagar • Product development center in Mumbai • Karigar Park in Midnapore • CaratLane manufacturing facilities in Mumbai and Chennai Watches India’s Leading Watches Brand ~ 27% Analog Market share (India) 10,000+ PAN India Touchpoints Manufacturing Capabilities • Plants in Hosur and Coimbatore • Facilities in Roorkee, Pantnagar , and Sikkim EyeCare India’s Most Trusted Optical Chain #2 in Organized Optical Retail segment 800+ Exclusive Brand Outlets Manufacturing Capabilities • Plant in Chikkaballapur • Lens Lab facility at Kolkata Note: 1. Market share data is based on internal estimates of the domestic market 2. All numbers are as on 31 st March 2026
Page 7
7 Titan’s Consumer Businesses (2/2) Indian Dresswear (‘Taneira’) Pure Handcrafted Weaves Taniera Weavershala An initiative by brand ‘ Taneira ’ supporting weavers with technical expertise and improving their working conditions Fragrances India’s Leading Fine Fragrances Brand 950+ Touch points across India for brands ‘Skinn’ & ‘Fastrack’ Including presence at Titan World and Fastrack Outlets Women’s Bags Thoughtfully designed Bags ~ 170 Departmental Stores presence for brands ‘Irth’ and ‘Fastrack’ Note: 1. Market share data based on internal estimates; All numbers are as on 31 st March 2026 2. * - Clusters represent regions of India with distinct traditional handloom weaving practices 100+ Clusters* 75+ Exclusive Taneira Brand Outlets 3,400+ Multi - Brand Outlets 14 Skinn Kiosks 17 Exclusive Irth Brand Outlets
Page 8
8 0 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800 850 900 950 1,000 Mass Market Mid Market Premium Luxury Titan Brands - Segmentation Landscape & Brand Size Touch Points Note: 1. Bubble size for the brands represents the indicative Business size as of 31 st March 2026 (not to scale) 2. Touch points refer to the physical brand presence across exclusive retail outlets, large format stores and other channels as app licable for the respective brands +
Page 9
9 Titan Company Structure Titan Engineering & Automation Limited (TEAL) CaratLane Trading Private Limited TCL North America Inc Titan Holdings International FZCO, Dubai Titan Commodity Trading Limited Titan Company Limited 100% 100% 100% 100% 100% TEAL USA Inc. StudioC Inc., USA 100% 100% Titan Global Retail LLC, Dubai Titan International QFZ LLC, Qatar 100% 100% 67% Note: 1. Minority stakes are not included in the above structure 2. Company Structure is as of 30 th September 2026 3. * Signature Jewellery Holding Ltd. [SJHL], is the holding company for Damas Jewellery entities 100% Titan Watch Company Limited, Hong Kong Signature Jewellery Holding Limited, Dubai* 100% Damas LLC & Subsidiaries
Page 10
10 Other Updates Financial Performance Business Performance Executive Summary About the Company Titan at a Glance Quarter Highlights Management Commentary Business Highlights Executive Summary
Page 11
11 Titan at a Glance Financial strengths ₹ 868 bn TTM* Total income (excl. Bullion & Digi - gold) ₹ 70 bn TTM Profit After Tax ₹ 4,075 bn Market Capitalization on BSE Retail presence 3,758 Stores 5.6 mn Retail area ( sq.ft .) People, Customers, Facilities 15,500+ Employees on roll 51 mn Encircle Members 11 Manufacturing facilities 500+ Town presence Note: 1. TTM: Trailing twelve months 2. All figures are on a consolidated basis and are as reported as on 30 th September 2026, rounded to nearest integers; Town presence includes International locations 3. Employee count is presented on a consolidated basis and includes employees of all subsidiaries
Page 12
12 Tanishq marks 30 Y ears of Trust, Craftsmanship & Meaningful Connections : Celebrating three decades of being part of women’s journeys, Tanishq honours the milestones, aspirations and cherished moments that have defined its legacy, reflecting an enduring bond with generations of women and their evolving stories Titan strengthens its watchmaking capabilities with V etra : Marking a significant milestone in its horological journey, Titan introduces Vetra, its in - house movement, deepening its watchmaking expertise and advancing its capabilities in horological innovation and movement development Titan Vetra video embedded as a hyperlink Quarter Highlights
Page 13
13 Management Commentary Q2FY27 was a quarter of healthy, broad - based growth for Titan, with our businesses registering c.25% consolidated operating growth YoY. A strong base quarter and a notable shift in the festive calendar into Q3FY27 notwithstanding, consumer demand held up well for most of the period. Our Jewellery business grew well with design - led collections and attractive consumer offers resonating across markets and age groups. Watches business delivered an excellent quarter, building further on premiumisation and design differentiation; The EyeCare business sustained its momentum on sharp execution and a steadily improving customer experience. Our emerging businesses are scaling well while TEAL continues grow from strength to strength and raise the bar of excellence in high - precision engineering. Across the portfolio, we keep innovating and investing for growth — strengthening brand equity, deepening customer engagement and creating enduring value for all our stakeholders. - Mr. Ajoy Chawla, Managing Director
Page 14
14 Note : • Figures in ₹ crores, unless stated otherwise (All figs. rounded to the nearest integers); Bubble figures represent % contributions of the re spective Businesses as a % of the Total for the respective periods • Income & EBIT of Jewellery Business includes Domestic Business of Tanishq, CaratLane, Mia, Zoya & beYon • Watches and EyeCare business financials represent domestic business of their respective brands • All consumer business representations above exclude financials related to primary shipments to International entities, export s, if any and hence may differ from the Standalone Reported Financials • Domestic Income in Jewellery and Titan Company excludes Bullion and Digi - Gold sales of ₹ 148 crores in Q2FY27 ( ₹ 2,248 crores in Q2FY26) • Emerging Businesses comprise of Taneira , Fragrances & Women’s Bags Consumer Businesses View (Domestic)– Quarterly Jewellery Watches EyeCare Total Domestic Consumer Businesses 13,532 16,343 +20.8% 1,446 1,838 + 27.2 % 215 277 142 171 +20.8% 15,335 18,629 +21.5% 88 9 10 1 1 1 1 1,490 2,281 11.0% 14.0% 242 417 16.7% 22.7% 12 25 5.7% 9.1% +105% (24) (6) ( 16.8%) (3.5%) 1,720 2,717 11.2 % 14.6% +57.9% EBIT Domestic Income 87 14 15 1 1 1 1 +53.1% Emerging Businesses +28.4% +72.4% 88 84 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27
Page 15
15 1,506 2,300 Consolidated Business View– Quarterly Jewellery Watches EyeCare Other Businesses Titan Company* 14,092 17,495 +24.1% 1,477 1,881 +27.4% 220 281 +27.7% 557 808 +45.1% 16,407 20,533 +25.1% 86 9 9 1 1 4 3 10.7% 13.1% 238 412 16.1% +73.1% 12 23 5.3% 8.2% 70 173 12.6% 21.4% 1,799 2,865 11.0 % 14.0% +59.3% EBIT Total income 13 12 1 1 5 4 +52.7% Note : • Figures in ₹ crores, unless stated otherwise (All figs. rounded to the nearest integers); Bubble figures represent % contributions of the re spective Businesses as a % of the Total for the respective periods • Income & EBIT of Jewellery Business includes Domestic and International Business of Tanishq, CaratLane, Mia, Zoya. Correspond ing Income and EBIT of Damas business included, post acquisition, from Q4FY26 in Jewellery • Total Income in Jewellery and Titan Company excludes Bullion and Digi - gold sales of ₹ 226 crores in Q2FY27 ( ₹ 2,430 crores in Q2FY26) • Other Businesses comprise of Taneira , Fragrances, Women’s Bags & ‘Titan Engineering & Automation Limited’ (‘TEAL’) • Titan Company figures include Corporate segment financials and excludes liability pertaining to Damas acquisition (detailed in the note in slide 18) Q2FY26 Q2FY27 83 84 65 +91.7% +147% 21.9% Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27 Q2FY26 Q2FY27
Page 16
16 Note : • Figures in ₹ crores, unless stated otherwise (All figs. rounded to the nearest integers); Bubble figures represent % contributions of the re spective Businesses as a % of the Total for the respective periods • Income & EBIT of Jewellery Business includes Domestic Business of Tanishq, CaratLane, Mia, Zoya & beYon • Watches and EyeCare business financials represent domestic business of their respective brands • All consumer business representations above exclude financials related to primary shipments to International entities, export s, if any and hence may differ from the Standalone Reported Financials • Domestic Income in Jewellery and Titan Company excludes Bullion and Digi - Gold sales of ₹ 599 crores in Q2FY27 ( ₹ 3,979 crores in Q2FY26) • Emerging Businesses comprise of Taneira , Fragrances & Women’s Bags Consumer Businesses View (Domestic)– Half Y ear Jewellery Watches EyeCare Total Domestic Consumer Businesses 25,774 33,286 +29.1% 2,685 3,349 + 24.7 % 449 562 250 299 +19.7% 29,159 37,496 +28.6% 88 9 9 1 2 1 1 2,879 4,649 11.1% 14.0% 528 712 19.7% 21.3% 33 50 7.3% 9.0% +54.2% (38) (45) ( 15.2%) (14.9%) 3,402 5,366 11.7 % 14.3% +57.8% EBIT Domestic Income 85 16 13 1 1 (1) +61.5% Emerging Businesses +25.0% +34.8% 89 87 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 (1)
Page 17
17 2,914 4,660 Consolidated Business View– Half Y ear Jewellery Watches EyeCare Other Businesses Titan Company* 26,890 35,748 +32.9% 2,750 3,424 +24.5% 458 570 +24.5% 972 1,374 +41.4% 31,186 41,286 +32.4% 86 9 8 1 1 3 3 10.8% 13.0% 525 707 19.1% +34.7% 32 47 7.0% 8.2% 131 277 13.5% 20.2% 3,550 5,647 11.4 % 13.7% +59.1% EBIT Total income 15 11 1 1 5 4 +59.9% Note : • Figures in ₹ crores, unless stated otherwise (All figs. rounded to the nearest integers); Bubble figures represent % contributions of the re spective Businesses as a % of the Total for the respective periods • Income & EBIT of Jewellery Business includes Domestic and International Business of Tanishq, CaratLane, Mia, Zoya. Correspond ing Income and EBIT of Damas business included, post acquisition, from Q4FY26 in Jewellery • Total Income in Jewellery and Titan Company excludes Bullion and Digi - gold sales of ₹ 975 crores in H1FY27 ( ₹ 4,279 crores in H1FY26) • Other Businesses comprise of Taneira , Fragrances, Women’s Bags & ‘Titan Engineering & Automation Limited’ (‘TEAL’) • Titan Company figures include Corporate segment financials and excludes liability pertaining to Damas acquisition (detailed in the note in slide 18) H1FY26 H1FY27 85 82 74 +46.9% +111% 20.6% H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27 H1FY26 H1FY27
Page 18
18 Note on Damas Acquisition • The Damas acquisition, completed in Q 4 FY 26 , has been structured in 2 tranches . • Tranche - 1 of the acquisition of 67 % equity stake was completed in Q 4 FY 26 for a consideration of ₹ 1 , 190 crores . As part of the arrangement, the balance 33 % equity stake is linked to milestones and would be completed post CY 29 • On the acquisition date, an estimated (option) liability of ₹ 1 , 668 crores was accounted for Tranche - 2 in line with applicable accounting standards • Ind - AS 109 requires fair valuation of this option liability at the end of every quarter based on the evaluation of probable business performance in the 4 year period from CY 26 to CY 29 • Post acquisition, due to the volatile geopolitical situation in the Middle East region, the business performance of Damas has been impacted for CY 26 . Accordingly, based on current assessment, the (option) liability of Tranche - 2 has been reduced by an amount of ₹ 671 crores . Leading to a corresponding non - operational credit in the reported financial statements • It is to be noted that as the Ind - AS 109 standard requires this fair valuation at every reporting date . We expect that based on the probable performance assessment in the coming quarters till CY 29 , corresponding accounting adjustments could lead to an increase or decrease in the (option) liability including forex revaluation impact, if any
Page 19
19 Other Updates Executive Summary Business Performance About the Company Financial Performance Jewellery Watches EyeCare Emerging Business TEAL Jewellery
Page 20
20 Jewellery : Quarterly Business Performance (Domestic) Campaign videos embedded as hyperlinks 29 stores (net) were added in the quarter Tanishq, Mia, Zoya, beYon • Portfolio grew c . 20 % YoY to ₹ 14 , 935 crores, with SSSG at c . 15 % YoY . Consumer demand remained largely resilient through the period, notwithstanding a strong Q 2 FY 26 base and a shift in the festive calendar . • Tanishq’s ‘Festival of Diamonds’ campaign drove strong consumer traction in studded jewellery, the category growing by c . 32 % YoY . The elevated gold prices saw consumers continuing to prefer exchange as the dominant form of gold purchases . The plain gold jewellery segment grew c . 20 % YoY . The base quarter had seen a strong investment - led buying in coins that tapered off, category declining c . 7 % YoY • The growth was led by higher average ticket size purchases with consumers continuing to prefer design led jewellery . This also drove higher ticket sizes overall, while the buyer growth for the portfolio was flat YoY • Business recorded an EBIT of ₹ 2 , 142 crores at 14 . 3 % margin for the quarter . Excluding the one - time customs duty benefit of ₹ 490 crores, the normalised EBIT grew c . 20 % YoY to₹ 1 , 652 crores, clocking 11 . 1 % margin . While the studded mix saw a healthy YoY uptick, the evolving competitive dynamics necessitated investments to support consumer engagement and drive future growths • The retail expansion across brands was 7 (net) store additions in Tanishq, 18 in Mia and 4 in beYon respectively Campaign videos embedded as hyperlinks
Page 21
21 Jewellery : Quarterly Business Performance (Domestic) Campaign videos embedded as hyperlinks CaratLane • Business clocked c . 31 % YoY growth to₹ 1 , 408 crores for the quarter • The studded portfolio grew c . 33 % YoY led by active campaigns and during this period . The Gold jewellery portfolio grew c . 20 % YoY • Brand actively invested in advertising, promotions and attractive offers to drive consumer demand during the quarter resulting in a healthy double - digit buyer growth for the business • EBIT grew c . 27 % YoY to₹ 138 crores for the quarter clocking 9 . 8 % margin . Adjusting for the one - time customs duty benefit of ₹ 46 crores, the resulting EBIT was ₹ 92 crores, at 6 . 6 % margin, declining c . 15 % YoY . 13 stores (net) were added in the quarter
Page 22
22 Jewellery : Quarterly Business Performance(International) Campaign videos embedded as hyperlinks Tanishq, Mia, CaratLane • Business grew c . 41 % YoY in North America (‘NA’) and c . 23 % YoY in the GCC aided by network expansion (both new stores & conversions) • NA growth was driven by healthy retail traction amongst the Indian diaspora and sustained brand investments in the region • 1 new store was added during the quarter in Los Angeles • The international footprint across the portfolio stands at 33 stores as of September 30 , 2026 Damas • The Damas (core) business clocked Revenue of ₹ 364 crores for the quarter . • The Tanishq converted stores (for which Damas is a franchise partner), clocked Revenue of ₹ 110 crores in the quarter • Considering the above, the Damas (entity) Revenues (excluding bullion sales) , were ₹ 474 crores* for the quarter • Consumer demand across GCC continued to be impacted by the volatile geopolitical disruptions in the region ; Consumer demand remained soft during the quarter necessitating retail and promotional initiatives to drive growth • The business added 2 new stores and closed 2 stores during the quarter . The Damas core network, as of September 30 , 2026 comprises of 122 stores across the 6 GCC countries Note*: The Tanishq business in GCC includes Revenue of stores converted from Damas to Tanishq to reflect an holistic underlying bran d performance. The Damas (core) business excludes these converted stores; It is to be noted that in statutory financial reporting, the performance of these converted stores wo uld be reported under Damas LLC (entity) financials
Page 23
23 Jewellery : Quarterly Business Performance Secondary YoY Growth (%) Tanishq, Mia, Zoya (Domestic) 19% Overall 15% Like to like Product Mix % of Domestic Jewellery (including CaratLane) Gold, Coins, Others Studded • All figures rounded to nearest integers; Damas Income and EBIT are included, post acquisition. Hence the International figure s ( total) are not strictly comparable to last year Revenue ( ₹ crores) Q2FY26 Q2FY27 YoY% Domestic 13,532 16,343 20.8% - Tanishq, Mia, Zoya 12,460 14,935 19.9% - CaratLane 1,072 1,408 31.3% International 561 1,152 105% - Tanishq, Mia, CaratLane 561 788 40.6% - Damas (Core) - 364 - Total Income 14,092 17,495 24.1% EBIT (₹ crores) Q2FY26 Q2FY27 YoY% Domestic 1,490 2,281 53.1% EBIT Margin % 11.0% 14.0% 295 bps - Tanishq, Mia, Zoya 1,381 2,142 55.1% EBIT Margin % 11.1% 14.3% 326 bps - CaratLane 109 138 27.3% EBIT Margin % 10.1% 9.8% (31) bps International 16 20 22.8% EBIT Margin % 2.8% 1.7% (114 bps) - Tanishq, Mia, CaratLane 16 43 170% EBIT Margin % 2.8% 5.5% 262 bps - Damas (Core) - (24) - EBIT Margin % - (6.5%) Total EBIT 1,506 2,300 52.7% EBIT Margin % 10.7% 13.1% 246 bps All Brands (Domestic) 21% Overall 15% Like to like Effective Q1FY27, Coloured Stones have been reclassified from Studded to the ‘Gold, Coins, Others’ category. Accordingly, the Studded mix has been restated for both the periods above. Comparable Studded share for Q2FY25 was 32% 68% 32% Q2FY26 65% 35% Q2FY27
Page 24
24 Jewellery : Campaigns Campaign videos embedded as hyperlinks • Introduced the ' Chandrakor ' collection, reinterpreting a traditional Maharashtrian motif through contemporary fine jewellery, supported by a festive campaign featuring Mukti Mohan • Unveiled the ' Kaashika ' campaign film, drawing inspiration from Banaras’ cultural heritage and architecture to showcase contemporary jewellery crafted in 14KT gold and natural diamonds CaratLane • Mia’s 'Make Your Sister Cry' campaign brought a playful, emotive twist to Raksha Bandhan gifting, celebrating the bond between sisters • Mia’s 'Big Bling Fest' campaign spotlighted its diamond and silver jewellery collections through festive offers and contemporary styling Mia • Zoya’s 'Emergence' campaign explores inner harmony and self - discovery through fine jewellery, with sculptural forms and coloured gemstones reflecting a sense of balance, individuality and quiet elegance Zoya • Unveiled Rivaah’s 'One Wedding. Many Stories.' campaign, celebrating India’s diverse bridal traditions through distinctive regional jewellery and culturally rooted wedding narratives • Tanishq’s 'Festival of Diamonds' campaign spotlighted its natural diamond jewellery collection through contemporary designs and attractive promotional offers Tanishq • Celebrated Emirati women through ‘Her Nation, Her Strength’ and its Emirati Women’s Day campaign, recognising their achievements while honouring their cultural roots • Introduced ‘ Nuqoosh ’, a contemporary fine jewellery collection reinterpreting the rich artistry of Arabesque heritage Damas
Page 25
25 The Celebration Edit : Tanishq Rivaah : Wedding Signatures For Marriages Crafted by You Campaign videos embedded as hyperlinks
Page 26
26 Design Corner: Damas – Nuqoosh: Stories That Shape Y ou Where inherited patterns become contemporary expressions of identity Campaign videos embedded as hyperlinks
Page 27
27 Jewellery: Retail Network Note: * - The Area additions (net) include existing store refurbishments. Hence the store additions (net) and the Area additions (net) do not have a direct 1:1 co - relation Brand Particulars Jun’26 QTD Additions (Net) Sep’26 Stores - Domestic (#) Stores - International (#) Area sq. ft. (k)* Town Presence (#) 532 31 2,767 312 7 1 97 6 539 32 2,864 318 Stores - Domestic (#) Stores - International (#) Area sq. ft. (k) Town Presence (#) 299 1 272 121 18 - 20 4 317 1 292 125 Stores (#) Area sq. ft. (k) Town Presence (#) 13 35 9 - - - 13 35 9 Stores (#) Area sq. ft. (k) Town Presence (#) 2 2 2 4 4 2 6 6 4 Stores - Domestic (#) Stores - International (#) Area sq. ft. (k) Town Presence (#) 381 2 502 161 13 - 21 6 394 2 522 167 Stores (#) Area sq. ft. (k) Town Presence (#) 122 131 23 - 1 - 122 132 23
Page 28
28 Other Updates Financial Performance Business Performance Executive Summary About the Company Jewellery Watches EyeCare Emerging Business TEAL Watches
Page 29
29 Watches: Quarterly Business Performance • Domestic Watches business grew c.27% YoY to ₹ 1,838 crores, driven by strong premiumization trends • Analog watches grew in the late twenties, benefitting from both volume uptick and average selling price (‘ASP’) expansion • ‘Titan’ brand clocked a robust double - digit growth, reflecting sustained consumer interest in the brand. The brands of Fastrack & Sonata saw healthy double - digit value growths • Smart Watches saw a turnaround recording YoY growth in late single - digits, the performance largely driven by premium ‘Titan’ smartwatch sales and aided by higher ASP’s • Despite the festive shift, the retail momentum in key formats of Titan World and Helios was strong resulting in healthy double - digit same - store growths for the quarter • The healthy Revenue growth translated into operating leverage gains for the businesses; The EBIT grew c.73% YoY to ₹ 412 crores at 21.9% margin • Business store additions (net) in the quarter comprised of 17 stores each in Titan World, 7 stores in Fastrack, 3 stores in Helios, 6 stores in Helios Luxe and 1 store in Nebula respectively Campaign videos embedded as hyperlinks 34 stores (net) were added in the quart er
Page 30
30 Watches: Quarterly Business Performance Business Performance (₹ crores) Q2FY26 Q2FY27 YoY% Domestic 1,446 1,838 27.2% International 31 43 37.6% Total Income 1,477 1,881 27.4% Total EBIT 238 412 73.1% EBIT Margin % 16.1% 21.9% 579 bps Overall YoY Secondary UCP Like to Like YoY 26% 30% 16% 19% 20% 22% 7% 18% LFS
Page 31
31 Watches : Campaigns • Titan Edge introduced ' Squircle Titanium', blending its signature geometric design with Grade 5 titanium and precision engineering • Titan Raga’s 'Your Way Is Beautiful' campaign celebrated individuality and self - expression, challenging conventional beauty ideals through a campaign featuring Alia Bhatt Titan • Introduced the 'Gelato Maxxing ' campaign featuring Siddhant Chaturvedi, translating Gen Z’s culture of personal obsessions into a playful, gelato - inspired watch collection Fastrack • Debuted 'Summit', a design - led collection inspired by Ladakh’s dramatic landscapes, translating its mountain peaks, glaciers and monasteries into contemporary timepieces for a new generation of young consumers Sonata Campaign videos embedded as hyperlinks Premium Brands • Nebula unveiled 'Phool Chadar', an exclusive luxury watch collaboration with couturier Tarun Tahiliani, weaving Indian wedding traditions with intricate craftsmanship and fine watchmaking under the 'Her Moment' campaign Fastrack Gelato Brown chronograph watch with Cookies n Cream dial for Guys - image number 0 Sonata Poze Quartz Analog Mother of Pearl Dial Rose Gold Metal Strap Watch For Women - image number 0
Page 32
32 Design Corner: The Heart of Timekeeping – V etra: Celebrating the spirit of Indian watchmaking through Titan’s journey in in-house movement development
Page 33
33 Watches: Retail Network Brand Particulars Jun’26 QTD Additions (Net) Sep’26 Stores - Domestic (#) Area sq. ft. (k)* Town Presence (#) ^ 764 554 398 17 18 5 781 572 403 Stores (#) Area sq. ft. (k) Town Presence (#) 267 128 119 7 4 6 274 131 125 Stores (#) Area sq. ft. (k) Town Presence (#) 304 222 108 3 3 8 307 225 116 Stores (#) Area sq. ft. (k) Town Presence (#) 10 15 9 6 7 3 16 22 12 Stores (#) Area sq. ft. (k) Town Presence (#) - - - 1 0 1 1 0 1 Multi Brand Outlet Presence 8,500+ Multi Brand Retailers (MBR) 600+ Large Format Stores (LFS) 2,000+ MBR Town Presence 180+ LFS Town Presence Note: • - The Area additions (net) include existing store refurbishments. Hence the store additions (net) and the Area additions (net) d o not have a direct 1:1 co - relation
Page 34
34 Other Updates Financial Performance Business Performance Executive Summary About the Company Jewellery Watches EyeCare Emerging Business TEAL EyeCare
Page 35
35 EyeCare: Quarterly Business Performance Business Performance (₹ crores) Q2FY26 Q2FY27 YoY% Domestic 215 277 28.4% International 5 4 (3.2%) Total Income 220 281 27.7% EBIT 12 23 91.7% EBIT Margin % 5.3% 8.2% 291 bps • EyeCare’s domestic business clocked robust business growth of 28 % YoY to ₹ 227 crores . Momentum was broad - based across both owned and international portfolios and increasing customer preferences for brands and differentiated offerings • Exciting consumer propositions across multi - category offerings resulted in strong double - digit growths across lenses, frames and sunglasses • International brands continued their healthy growth trajectory, reflecting strong consumer interest in premium offerings in the portfolio • EBIT grew 98 % YoY to₹ 23 crores, with a margin of 8 . 2 % , benefiting from operating leverage • During the quarter, 27 store openings were offset by an equal number of store closures, resulting in no net additions . The Division also continued to refresh its retail network, undertaking renovations across 32 stores Note:- * - Omni-channel growth represents the combined growths of Titan Eye Plus (TEP) retail channel and the growths via Titan E-commerce (TEC) portal 23% Overall EyeCare Secondary UCP YoY Growth (Omni-channel*) No stores were added in the quart er Campaign videos embedded as hyperlinks
Page 36
36 Campaign videos embedded as hyperlinks Design Corner: Where Growing Eyes Meet Smarter Vision – Myoslo Lens Thoughtful lens innovation for the years that shape how they see the world.
Page 37
37 EyeCare: Retail Network Brand Particulars Jun’26 QTD Additions (Net) Sep’26 Stores - Domestic (#) Stores - International (#) Area sq. ft. (k)* Town Presence (#) 838 7 569 319 - - 17 (6) 838 7 586 313 Stores (#) Area sq. ft. (k) Town Presence (#) 9 3.4 7 - - (1) 9 3.4 6 Note: * - The Area additions (net) include existing store refurbishments. Hence the store additions (net) and the Area additions (net) do not have a direct 1:1 co - relation
Page 38
38 Other Updates Financial Performance Business Performance Executive Summary About the Company Jewellery Watches EyeCare Emerging Business TEAL Emerging Business
Page 39
39 Emerging Business : Quarterly Business Performance Business Performance Operating Revenues ( ₹ crores) Q2FY26 Q2FY27 YoY% Total Income 142 171 20.8% EBIT (24) (6) EBIT margin (16.8%) (3.5%) Taneira Secondary UCP YoY Growth 16% Overall 13% Like to Like • The Emerging Businesses portfolio delivered c.18% YoY growth, clocking revenue of ₹ 171 crores, with encouraging progress across categories • Women’s Bags recorded growth in the high - teens, led by new store openings and higher average selling prices across both Irth and Fastrack • Fragrances delivered another quarter of robust growth, supported by strong double - digit volume growth and mid - single - digit ASP expansion across Skinn and Fastrack • Taneira grew in high - single - digits for the quarter with the brand continued to focus on strengthening same - store performance • The ‘Emerging Business’ combined losses narrowed to ₹ 6 crores from ₹ 24 crores in Q2FY26, driven by higher profitability in the Fragrances business Campaign videos embedded as hyperlinks
Page 40
40 Emerging Businesses: Retail Network Brand Particulars Jun’26 QTD Additions (Net) Sep’26 Stores (#) Area sq. ft. (k) Town Presence (#) 77 226 41 (1) (3) - 76 222 41 Stores (#) Area sq. ft. (k) Town Presence (#) 19 8 12 2 2 4 21 10 16 Stores (#) Area sq. ft. (k) Town Presence (#) 2 0.3 2 - - - 2 0.3 2 Note: * - The Area additions (net) include existing store refurbishments. Hence the store additions (net) and the Area additions (net) do not have a direct 1:1 co - relation
Page 41
41 Other Campaigns EyeCare Taneira • Fastrack Bags introduced its 'Carry More, Weigh Less' laptop collection, combining lightweight designs, contemporary colours and functional features for students and young professionals on the move. Fashion Accessories Campaign videos embedded as hyperlinks Fragrances • Taneira’s 'Drapes of Gratitude' campaign celebrated the enduring influence of teachers and mentors, honouring the relationships that shape us through the thoughtful gesture of gifting a saree • Titan Eye+ strengthened its focus on specialised eye care through Myopia Excellence Centres, offering dedicated diagnostics, myopia - management solutions and ongoing monitoring to support children’s eye health • SKINN introduced 'Make Every Moment Special', featuring new brand ambassadors Ayushmann Khurrana and Sobhita Dhulipala, positioning fine fragrance as an everyday ritual rather than an indulgence reserved for special occasions
Page 42
42 Other Updates Financial Performance Business Performance Executive Summary About the Company Jewellery Watches EyeCare Emerging Business TEAL TEAL
Page 43
43 Titan Engineering & Automation Limited (‘TEAL’) : Quarterly Business Performance • Total Income grew 53% YoY to ₹ 636 crores driven by healthy growths in both the Automation Solutions (AS) and Manufacturing Services (MS) businesses • EBIT for the quarter was ₹ 178 crores at c.28% margin. The margins are not fully comparable to Q2FY26 on account of seasonality impact in AS business • Emerging opportunities in aerospace, electronics, semiconductors and new energy position the business for long - term growth • A healthy order pipeline and execution capabilities across different verticals provide confidence in delivering sustained growth and profitability Particulars ( ₹ crores) Q2FY26 Q2FY27 YoY% Total Income 4 15 636 53.3% EBIT 94 178 89.4% EBIT Margin % 22.7% 28.0% 534 bps
Page 44
44 Other Updates Financial Performance Business Performance Executive Summary About the Company Financials – Business & Reported Capital Employed Financial Performance Trends Financial Performance
Page 45
45 Financials– Business & Reported– Quarter (Consolidated) Total Income ( ₹ crores) EBIT ( ₹ crores) EBIT Margin (%) Particulars” Q2FY26 Q2FY27 YoY% Q2FY26 Q2FY27 YoY% Q2FY26 Q2FY27 YoY (bps) Consumer Businesses [A=( i )+(ii)] 15,931 19,828 24% 1,731 2,729 58% 10.9% 13.8% 290 bps ( i ) Domestic Businesses 15,335 18,629 21% 1,720 2,717 58% 11.2% 14.6% 337 bps Jewellery 13,532 16,343 21% 1,490 2,281 53% 11.0% 14.0% 295 bps - Tanishq, Mia, Zoya, beYon 12,460 14,935 20% 1,381 2,142 55% 11.1% 14.3% 326 bps - CaratLane 1,072 1,408 31% 109 138 27% 10.1% 9.8% (31) bps Watches 1,446 1,838 27% 242 417 72% 16.7% 22.7% 596 bps EyeCare 215 277 28% 12 25 105% 5.7% 9.1% 339 bps Emerging Businesses 142 171 21% (24) (6) - (16.8%) (3.5%) - (ii) International Business* 596 1,199 101% 11 12 10% 1.9% 1.0% (85) Bps Jewellery 561 1,152 105% 16 20 23% 2.8% 1.7% (114 bps) Watches 31 43 38% (4) (5) - (13.5%) (12.4%) - EyeCare 5 4 (3%) (1) (2) - (14.5%) (47%) - Other Business [B] – TEAL 415 636 53% 94 178 89% 22.7% 28.0% 534 bps Businesses (Total) [C=A+B] 16,346 20,465 25% 1,826 2,908 59% 11.2% 14.2% 305 bps Others # [D] 62 740 - (27) 628 - - - - Consol. Financials [E=C+D] (excl. Bullion & Digi - gold) 16,407 21,204 29% 1,799 3,536 97% 11.0% 16.7% 571 bps Bullion & Digi - gold [F] 2,430 226 (91%) - - - Reported Consolidated Financials [G=E+F] 18,837 21,430 14% 1.799 3,536 97% Note: • “ - Income & EBIT of Businesses are to represent their performance and may differ from the Reported Financials; The detailed brid ge capturing key differences is part of Annexure for reference • * - International Business includes financials of Jewellery (Tanishq, Mia, CaratLane, Damas), Watches and EyeCare businesses outside India ; Damas financials included post acquisition from Q4FY26 • # - Others consist of Corporate segment financials, unallocated portions, adjustments and eliminations, if any; They include ₹ 671 crores of liability pertaining to Damas acquisition (detailed in the note in slide 18) in the Total Income and EBIT • All figures rounded to nearest integers
Page 46
46 Financials– Business & Reported– Half Y ear(Consolidated) Total Income ( ₹ crores) EBIT ( ₹ crores) EBIT Margin (%) Particulars” H1FY26 H1FY27 YoY% H1FY26 H1FY27 YoY% H1FY26 H1FY27 YoY (bps) Consumer Businesses [A=( i )+(ii)] 30,347 40,041 32% 3,433 5,369 56% 11.3% 13.4% 210 bps ( i ) Domestic Businesses 29,159 37,496 29% 3,402 5,366 58% 11.7% 14.3% 265 bps Jewellery 25,774 33,286 29% 2,879 4,649 61% 11.1% 14.0% 280 bps - Tanishq, Mia, Zoya, beYon 23,676 30,438 29% 2,702 4,344 61% 11.4% 14.3% 286 bps - CaratLane 2,098 2,849 36% 177 304 72% 8.4% 10.7% 227 bps Watches 2,685 3,349 25% 528 712 35% 19.7% 21.3% 159 bps EyeCare 449 562 25% 33 50 54% 7.3% 9.0% 170 bps Emerging Businesses 250 299 20% (38) (45) - (15.2%) (14.9%) - (ii) International Business* 1,188 2,545 114% 31 3 (90%) 2.6% 0.1% (249) bps Jewellery 1,115 2,462 121% 35 12 (66%) 3.1% 0.5% (264 bps) Watches 65 75 15% (3) (5) - (5.0%) (6.8%) - EyeCare 9 9 (4%) (1) (4) - (7.6%) (41%) - Other Business [B] – TEAL 722 1,075 49% 169 322 91% 23.4% 30.0% 655 bps Businesses (Total) [C=A+B] 31,068 41,115 32% 3,602 5,691 58% 11.6% 13.8% 225 bps Others # [D] 117 841 - (52) 627 - - - - Consol. Financials [E=C+D] (excl. Bullion & Digi - gold) 31,186 41,957 35% 3,550 6,318 78% 11.4% 15.1% 368 bps Bullion & Digi - gold [F] 4,279 975 (77%) - - - Reported Consolidated Financials [G=E+F] 35,465 42,932 21% 3,550 6,318 78% Note: • “ - Income & EBIT of Businesses are to represent their performance and may differ from the Reported Financials; The detailed brid ge capturing key differences is part of Annexure for reference • * - International Business includes financials of Jewellery (Tanishq, Mia, CaratLane, Damas), Watches and EyeCare businesses outside India ; Damas financials included post acquisition from Q4FY26 • # - Others consist of Corporate segment financials, unallocated portions, adjustments and eliminations, if any; They include ₹ 671 crores of liability pertaining to Damas acquisition (detailed in the note in slide 18) in the Total Income and EBIT • All figures rounded to nearest integers
Page 47
47 Capital Employed: Consolidated Note: • Figures in ₹ crores, unless stated otherwise; All figures are as per the Reported Financials • Other Businesses include Emerging Businesses (Taniera, Fragrances & Women’s Bags) and the subsidiary TEAL • Titan Company figures include Corporate (unallocated) component Jewellery Watches EyeCare Other Businesses Titan Company Liabilities Equity Assets 27,890 28,918 11,485 28,921 39,375 57,839 Q2FY26 Q2FY27 1,549 1,605 3,166 4,158 4,715 5,763 Q2FY26 Q2FY27 401 439 305 339 706 778 Q2FY26 Q2FY27 933 1,050 926 1,255 1,859 2,305 Q2FY26 Q2FY27 39,227 53,543 12,803 18,263 52,030 71,806 Q2FY26 Q2FY27
Page 48
48 Consolidated: Quarterly Performance Trends Total Income ( ₹ crores) and YoY Growth (%) PAT (₹ crores) and PAT Margin (%) Note: 1. Figures in ₹ crores, unless stated otherwise; All figures are as per the Reported Financials 2. Total Income figures as per Reported Financials excluding Bullion and Digi - gold sales; 3. In Q2FY27, ₹ 671 crores of liability pertaining to Damas acquisition (detailed in the note in slide 18) are included in the Total Income and EBIT FY24: 47,454; 23% FY25: 57,338; 21% 23% 23% 30% 24% 21% 24% 31% 24% % of FY 11,069 10,835 14,110 11,440 12,308 13,556 17,582 13,891 14,778 16,407 24,592 20,300 20,753 21,204 21% 24% 24% 21% 11% 25% 25% 21% 20% 21% 40% 46% 40% 29% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 FY24: 3,496; 7.4% FY25: 3,337; 5.8% 756 916 1,053 771 715 704 1,047 871 1,091 1,120 1,684 1,179 1,777 2,393 6.8% 8.5% 7.5% 6.7% 5.8% 5.2% 6.0% 6.3% 7.4% 6.8% 6.8% 5.8% 8.6% 11.3% 0 500 1,000 1,500 2,000 2,500 3,000 3,500 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 FY26: 5,073; 6.7% FY26: 76,078; 33% 19% 22% 32% 27% H1FY27: 41,957 H1FY27: 4,170; 9.9%
Page 49
49 Consolidated: Annual Segment Trends EBIT (₹ crores) and EBIT Margin (%) EBIT (₹ crores) and EBIT Margin (%) EBIT (₹ crores) and EBIT Margin (%) Note: 1. Figures in ₹ crores, unless stated otherwise; All figures are as per the Reported Financials 2. Jewellery Total Income excludes Bullion and Digi - gold sales Jewellery Total Income ( ₹ crores) and YoY Growth (%) Watches Total Income ( ₹ crores) and YoY Growth (%) EyeCare Total Income ( ₹ crores) and YoY Growth (%) 24,478 33,706 41,361 50,362 67,602 36% 38% 23% 22% 34% 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 FY22 FY23 FY24 FY25 FY26 2,317 3,310 3,930 4,598 5,267 46% 43% 19% 17% 15% FY22 FY23 FY24 FY25 FY26 517 689 726 801 916 38% 33% 5% 10% 14% FY22 FY23 FY24 FY25 FY26 3,069 4,387 4,812 4,899 7,209 13% 13% 12% 10% 11% FY22 FY23 FY24 FY25 FY26 100 408 393 548 824 4% 12% 10% 12% 16% FY22 FY23 FY24 FY25 FY26 56 98 80 80 77 11% 14% 11% 10% 8% FY22 FY23 FY24 FY25 FY26
Page 50
50 Consolidated: Annual Performance Trends Total Income ( ₹ crores) & YoY Growth (%) EBIT ( ₹ crores) and EBIT Margin (%) PAT (₹ crores) and PAT Margin (%) Total Equity ( ₹ crores) Return on Average Capital Employed (%) Return on Average Equity (%) Note: 1. Figures in ₹ crores, unless stated otherwise; All figures are as per the Reported Financials 2. Total Income excludes Bullion and Digi - gold sales 27,988 38,675 47,454 57,339 76,078 37% 38% 23% 21% 33% FY22 FY23 FY24 FY25 FY26 3,176 4,747 5,242 5,488 8,082 11% 12% 11% 10% 11% FY22 FY23 FY24 FY25 FY26 2,198 3,274 3,496 3,337 5,074 7.9% 8.5% 7.4% 5.8% 6.7% FY22 FY23 FY24 FY25 FY26 9,333 11,904 9,393 11,624 15,703 FY22 FY23 FY24 FY25 FY26 33% 39% 36% 37% 46% FY22 FY23 FY24 FY25 FY26 26% 31% 33% 32% 37% FY22 FY23 FY24 FY25 FY26
Page 51
51 Consolidated: RoE (%) Performance Trends PAT (₹ crores) Note: 1. All figures are as per the Reported Financials; PAT figures are for trailing twelve months from the respective period stated 2. Total Income excludes Bullion and Digi - gold sales 3. Acquisition of CaratLane ‘s Non - Controlling Interest (NCI), in H2FY24, has led to reduction in retained earnings that is reflect ed in the lower average equity 693 974 1,757 2,252 3,219 3,274 3,321 3,496 3,243 3,337 4,129 5,073 6,474 Return on Average Equity (%) Average Equity ( ₹ crores) 7,087 7,072 8,417 9,023 10,618 11,365 10,649 11,100 10,509 11,270 13,664 15,251 14% 25% 27% 36% 31% 29% 33% 29% 32% 37% 37% 42% Mar-21 Sep-21 Mar-22 Sep-22 Mar-23 Sep-23 Mar-24 Sep-24 Mar-25 Sep-25 Mar-26 Sep-26
Page 52
52 Other Updates Financial Performance Business Performance Executive Summary About the Company Dividend Shareholding information Awards & Recognition ESG at Titan Other Updates
Page 53
53 Dividend Note: 1. Amounts in Orange boxes refer to Total Dividend Payout for the respective years in ₹ crores 2. Financial Yearly dividends represent Dividend per share (in ₹ ) Dividend 2.20 2.60 3.75 5.00 4.00 4.00 7.50 10.00 11.00 11.00 15.00 28% 30% 29% 32% 23% 40% 31% 27% 28% 29% 29% FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 231 195 333 444 355 355 666 888 977 1,332 977
Page 54
54 Shareholding Information Shareholding Pattern as at 30 th September 2026 Stock Information BSE Ticker 500114 NSE Ticker TITAN BSE Market Capitalization (30 th September 2026) ₹ 4.07 lakh crores Number of Shares Outstanding 88.78 crores BSE Market Capitalization ( ₹ crores) 223,287 337,780 272,000 350,862 407,494 Mar-23 Mar-24 Mar-25 Mar-26 Sep-26 52.90% 16.37% 8.01% 4.38% 18.35% Promoters Foreign Institutional Investors Mutual Funds Insurance Cos. & Banks Retail Market capitalization is of the last trading day of the respective periods
Page 55
55 Awards & Recognitions Tanishq’s Customer Experience team was recently recognised at Making Customers Smile (MCS) Awards 2026 with the Customer Jury Award. Titan Company Ltd’s Jewellery ISCM team was recognised with the title of ‘ Manufacturer of the Year ’ at the IIJA 2026. Titan Company Ltd’s Internal Audit team was recognised for being a top contributor in sharing and implementing audit best practices across Tata Group companies by TBEX Titan Company Ltd. received the Volunteer Engagement Pinnacle Award at the India Corporate Volunteering Summit (ICVS) 2026
Page 56
56 Pragati Vision & Goals Elevate the experiences for everyone we touch, by creating a sustainable, responsible, & equitable world Company Responsibility Partner Responsibility ENVIRONMENTAL SOCIAL GOVERNANCE PARTNERS ‘Pragati’ launched on July 11 th 2025 GOALS (FY30) • Water Positive • Net Zero Carbon (Scope 1 & 2) • Circularity: 50% plastic reduction & recycling GOALS (FY27/FY28) • 2.5 million people reached through CSR • Great Place To Work (GPTW) scores of 85, ranking us among the top 100 in India • National Leader in Safety (Top 5) & Inclusion in the Retail Industry GOALS (FY30) • Global Benchmarks & Certifications in Ethics • National Benchmarks in Data Privacy & Corporate Governance • 4P 2.0 equivalent for all vendors by FY30; minimum 50% of domestic production covered by the same • Domestic vendor partner & global partners’ NPS or equivalent at global benchmarks – Watches, Jewellery, Eye Care businesses by FY27; Taneira , Fragrances and Women’s Bags by FY30
Page 57
57 ESG at Titan Q2FY27 Sourced c.76.8 crore units ( k wH ) of renewable energy for our manufacturing plants and offices 5,000 Saplings planted water storing capacity enhanced by 22+ Cr ltr Environment Social Governance Empowered 67,000+* Girl students through Education program IVDP enhanced 8K* family's livelihood Titan LeAP piloted in Meghalaya and Mizoram Gender Diversity F emales represent 31 % of total employees and workers (as of Mar’26 - 27) Design Impact brought 73,395* acres land under cultivation thru Precision Irrigation Have been rated in the top rating advanced across all parameters in ethics (Annual Compliance report) Got recognition for the ethics auction under the Best practices in the TATA group. IVDP LeAP
Page 58
58 CSR at Titan – Q2 FY27 - Key Initiatives Girl child / Education Skill development for underprivileged Affirmative Action Design Impact Footprints • 2,000+ girls evaluated for training for age - appropriate learnings • Kanya+ program extended to 7 GGICs in Haridwar • 70% of ECCE children (from migrant communities) transitioned to school • Tamil Nadu Govt. adopted Titan's PAL model in 500 schools Education • 8,000+ youth enrolled ; 2,200+ trainees completed training • Anna University mandates LeAP career guidance program • Army Veterans into Job Creators : 178 trained; 5 businesses started, generating 13+ local jobs • 46 PwDs are enagged in climate - smart enterprises. • Visually impaired Class 12 students independently completed digital mid - term exams. • 60+ students with Autism conditions are engaged in physical, cognitive and social developmental and educational activities. • First - time eye screening enabled in tribal communities in Tamil Nadu IHAC • 32 craft enterprises supported. • 3863 artisans covered. • Social Enterprises supported by DI signed MoU with BWSSB to address to reduce Non - Revenue Water (NRW), improving pipeline condition assessment, and enhancing water network management.
Page 59
59 Responsible Citizenship & initiatives at our factories Watches ISCM • The Watches Division continued its sustainability journey through enhanced water recycling (95%), rainwater harvesting, zero - waste initiatives, and energy - efficient chiller implementation, delivering significant reductions in water consumption, waste generation, and energy usage. Planet Completion of Akka Thangai Waterbody Restoration in Anchetty , Krishnagiri district. Identification of more water bodies in the Kaveri and South Pennar river basin. Maintenance continues for 3L+ saplings around Hosur. Safety • Suraksha Gurukul launched in April 2026 and 2,087 participants have been successfully trained. • A total of 16,368 training hours have been delivered. Jew ISCM • Implemented a 500 TR energy - efficient Maglev chiller (0.49 kW/TR) replacing a 600 TR screw chiller (0.85 kW/TR), significantly reducing energy consumption through oil - free magnetic levitation technology with zero friction losses and minimal maintenance. Sustainability at Titan – Q2 FY27 - Key Initiatives
Page 60
60 Annexures 60
Page 61
61 % of FY Jewellery: Quarterly Trends (Domestic – Tanishq, Mia, Zoya) Total Income ( ₹ crores) and YoY Growth (%) 24% 23% 23% 21% 23% 31% 24% EBIT ( ₹ crores) and EBIT Margin (%) Note: 1. Figures in ₹ crores, unless stated otherwise; All figures represent the business performance and differ from the Reported Segment Financia ls 2. Total Income excludes Bullion sales FY24: 37,480 FY25: 45,221; 21% 8,933 8,440 11,315 8,792 9,618 10,568 14,190 10,845 11,217 12,460 19,921 16,047 15,502 14,935 8% 25% 25% 24% 17% 18% 40% 48% 38% 20% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 984 1,199 1,376 1,062 1,090 932 1,359 1,290 1,321 1,382 2,166 1,813 2,202 2,142 11% 14% 12% 12% 11% 9% 10% 12% 12% 11% 11% 11% 14% 14% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% -200 300 800 1,300 1,800 2,300 2,800 3,300 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 FY25: 4,671; 10.3% FY24: 4,621; 12.3% 30% FY26: 59,643; 32% FY26: 6,681; 11.2% 19% 21% 33% 27% H1FY27: 30,438 H1FY27: 4,344; 14.3%
Page 62
62 % of FY Jewellery: Quarterly Trends (Domestic – CaratLane) Total Income ( ₹ crores) and YoY Growth (%) 22% 22% 25% 21% 23% 31% 25% EBIT ( ₹ crores) and EBIT Margin (%) Note: 1. Figures in ₹ crores, unless stated otherwise; All figures represent the business performance and differ from the Reported Segment Financia ls 2. Total Income excludes Bullion and Digi - gold sales FY24: 2,816 FY25: 3,501; 24% 624 632 861 700 738 811 1,081 871 1,026 1,072 1,537 1,066 1,441 1,408 18% 28% 26% 24% 39% 32% 42% 22% 41% 31% 0 500 1,000 1,500 2,000 2,500 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 40 31 85 55 42 61 127 61 68 109 200 89 166 138 6% 5% 10% 8% 6% 8% 12% 7% 7% 10% 13% 8% 12% 10% 0 50 100 150 200 250 300 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 FY25: 291; 8.3% FY24: 210; 7.5% 31% FY26: 4,702; 34% FY26: 466; 9.9% 22% 23% 33% 23% H1FY27: 2,849 H1FY27: 304; 10.7%
Page 63
63 % of FY Jewellery: Quarterly Trends (Domestic – All Brands) Total Income ( ₹ crores) and YoY Growth (%) 24% 23% 24% 21% 23% 31% 24% EBIT ( ₹ crores) and EBIT Margin (%) Note: 1. Figures in ₹ crores, unless stated otherwise; All figures represent the business performance and differ from the Reported Segment Financia ls 2. Total Income excludes Bullion and Digi - gold sales FY24: 40,296 FY25: 48,722%; 21% 9,557 9,072 12,175 9,491 10,356 11,379 15,271 11,716 12,243 13,532 21,458 17,114 16,943 16,343 8% 25% 25% 23% 18% 19% 41% 46% 38% 21% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 1,024 1,230 1,461 1,117 1,131 993 1,487 1,351 1,389 1,491 2,365 1,902 2,368 2,281 11% 14% 12% 12% 11% 9% 10% 12% 11% 11% 11% 11% 14% 14% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 FY25: 4,962; 10.2% FY24: 4,831; 12.0% 30% FY26: 64,345; 32% FY26: 7,146; 11.1% 19% 21% 33% 27% H1FY27: 33,286 H1FY27:4,649; 14.0%
Page 64
64 FY24: 41,361; 23% FY25: 50,363; 22% % of FY Jewellery: Quarterly Trends (Consolidated) Total Income ( ₹ crores) and YoY Growth (%) 24% 22% 30% 24% 21% 23% 31% 24% EBIT ( ₹ crores) and EBIT Margin (%) 9,754 9,263 12,552 9,792 10,730 11,672 15,848 12,112 12,797 14,092 22,517 18,195 18,253 17,495 22% 23% 24% 21% 10% 26% 26% 24% 19% 21% 42% 50% 43% 24% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 1,022 1,217 1,482 1,091 1,102 974 1,490 1,333 1,408 1,506 2,475 1,820 2,360 2,300 10% 13% 12% 11% 10% 8% 9% 11% 11% 11% 11% 10% 13% 13% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 FY24: 4,812; 11.6% FY25: 4,899; 9.7% Note: 1. Figures in ₹ crores, unless stated otherwise; All figures are as per the Reported Segment Financials 2. Total Income excludes Bullion and Digi - gold sales FY26: 7,209; 10.7% FY26: 67,602; 34% 19% 21% 33% 27% H1FY27: 35,748 H1FY27:4,660; 13.0%
Page 65
65 Watches: Quarterly Trends (Domestic) Total Income ( ₹ crores) and YoY Growth (%) 23% 28% 25% 24% 22% 29% 25% 24% EBIT ( ₹ crores) and EBIT Margin (%) Note: Figures in ₹ crores, unless stated otherwise; All figures represent the business performance and differ from the Reported Segment Financia ls % of FY FY24: 3,843 FY25: 4,465; 16% 877 1,074 968 923 999 1,275 1,104 1,087 1,239 1,446 1,250 1,171 1,510 1,838 14% 19% 14% 18% 24% 13% 13% 8% 22% 27% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 107 162 66 87 117 195 113 132 285 242 150 149 295 417 12% 15% 7% 10% 12% 15% 10% 12% 23% 17% 12% 13% 20% 23% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 FY25: 556; 12.5% FY24: 422; 11.0% FY26: 824; 16.2% FY26: 5,105; 14% 24% 28% 24% 23% H1FY27: 3,349 H1FY27: 712; 21%
Page 66
66 EyeCare: Quarterly Trends (Domestic) Total Income ( ₹ crores) and YoY Growth (%) 28% 26% 23% 23% 26% 25% 24% 24% EBIT ( ₹ crores) and EBIT Margin (%) Note: Figures in ₹ crores, unless stated otherwise; All figures represent the business performance and differ from the Reported Segment Financia ls % of FY FY24: 723 FY25: 791; 9.4% 203 188 166 165 208 200 193 190 234 215 227 222 285 277 3% 6% 16% 15% 12% 8% 17% 17% 22% 28% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 35 28 14 8 20 24 21 20 20 12 27 21 25 25 17% 15% 9% 5% 10% 12% 11% 10% 9% 5% 12% 9% 9% 9% Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 Q1'27 Q2'27 FY25: 85; 10.7% FY24: 86; 11.9% FY26: 898; 14% FY26: 81; 8.8% 26% 24% 25% 25% H1FY27: 562 H1FY27: 50; 9.0%
Page 67
67 Income Details – Q2FY27 Income Particulars (₹ crores) Tanishq, Mia, Zoya Watches EyeCare Emerging Businesses Corporate Standalone Financials (Reported) CaratLane "International Business" TEAL Other Adj.* Consol. Financials (Reported) (A) (B) (C) (D) (E) (F) = (A+B+C+D+E ) (G) "Jewellery (H)" "Others (I)" (J) (K) (L) = (F+G+H+I+J +K) Business Income 14,935 1,838 277 171 - 17,221 1,408 1,152 47 636 - 20,465 Add: International (primary) sales 611 31 2 - - 644 24 - - - - 668 Add: Bullion & Digi - gold - - - - - - 148 78 - - - 226 Add: Others # - - - - 79 79 - - - - (7)* 72 Reported Income: Segment / Standalone / Consolidated 15,547 1,869 279 171 79 17,945 1,579 1,230 47 636 (7) 21,430 Note: 1. Figures in ₹ crores, unless stated otherwise; All figures rounded to nearest integers 2. # - Others refer to Corporate Revenue and other adjustments, if any 3. * - Other Adj. consist of Inter - Company sales eliminations, Inter - Company adjustments and other adjustments, if any; The Q2FY27 Other Adj. is a net figure after considering ₹ 671 crores of liability pertaining to Damas acquisition (detailed in the note in slide 18)
Page 68
68 Operating Profit (EBIT) Details – Q2 FY27 Operating profit (EBIT) (₹ crores) Tanishq, Mia, Zoya Watches EyeCare Emerging Businesses Corporate Titan alone (as reported) CaratLane International Business TEAL Other items* Group total (as reported) (A) (B) (C) (D) (E) (F) = (A+B+C +D+E) (G) Jewellery (H) Other Business (I) (J) (K) (L) = (F+G+H +I+J+K) Operating profit from the business 2,142 417 25 (6) - 2,579 138 20 (7) 178 2,908 Add : Adjustments between group companies (including removing double counting) and other adjustments, if any 36 (4) (1) - (36) (5) (5) - - - 639* 628 Reported EBIT: By segment / Titan alone / Group total 2,178 413 25 (6) (36) 2,574 134 20 (7) 178 639 3,536 Note: 1. All figures are in ₹ crores unless stated otherwise , and are rounded to the nearest whole number 2. * Other items are the remaining profits and costs that are not assigned to any business , plus any other adjustments, if any 3. The Q2FY27 Other Adj. is a net figure after considering ₹ 671 crores of liability pertaining to Damas acquisition (detailed in the note in slide 18)
Page 69
69 Income Details – H1FY27 Income Particulars (₹ crores) Tanishq, Mia, Zoya Watches EyeCare Emerging Businesses Corporate Standalone Financials (Reported) CaratLane "International Business" TEAL Other Adj.* Consol. Financials (Reported) (A) (B) (C) (D) (E) (F) = (A+B+C+D+E ) (G) "Jewellery (H)" "Others (I)" (J) (K) (L) = (F+G+H+I+J +K) Business Income 30,438 3,349 562 299 - 34,647 2,849 2 ,462 83 1,075 - 41,115 Add: International (primary) sales 984 59 4 - - 1,047 48 - - - - 1,094 Add: Bullion & Digi - gold 302 - - - - 302 297 376 - - - 975 Add: Others # - - - - 191 191 - - - - (444)* (253) Reported Income: Segment / Standalone / Consolidated 31,724 3,407 566 299 191 36,187 3,194 2,838 83 1,075 (444) 42,932 Note: 1. Figures in ₹ crores, unless stated otherwise; All figures rounded to nearest integers 2. # - Others refer to Corporate Revenue and other adjustments, if any 3. * - Other Adj. consist of Inter - Company sales eliminations, Inter - Company adjustments and other adjustments, if any 4. The H1FY27 Other Adj. is a net figure after considering ₹ 671 crores of liability pertaining to Damas acquisition (detailed in the note in slide 18)
Page 70
70 EBIT Details – H1FY27 EBIT Particulars (₹ crores) - Tanishq, Mia, Zoya Watches EyeCare Emerging Businesses Corporate Standalone Financials (Reported) CaratLane "International Business" TEAL Other Adj.* Consol. Financials (Reported) (A) (B) (C) (D) (E) (F) = (A+B+C +D+E) (G) "Jewellery (H)" "Other Business’ (I)" (J) (K) (L) = (F+G+H +I+J+K) Business EBIT 4,344 712 50 (45) - 5,062 304 12 (9) 322 5,691 Add : Inter - Co. Adjustments / Eliminations / Profits / Other adjustments. if any 81 (3) 1 (18) 61 (5) - - - 571* 627 Reported EBIT: Segment / Standalone / Consolidated 4,425 709 51 (45) (18) 5,122 300 12 (9) 322 571 6,318 Note: 1. Figures in ₹ crores, unless stated otherwise; All figures rounded to nearest integers 2. * - Other Adj. consist of the balance portions of unallocated profits, unallocated costs and other adjustments, if any 3. The H1FY27 Other Adj. is a net figure after considering ₹ 671 crores of liability pertaining to Damas acquisition (detailed in the note in slide 18)
Page 71
71 Profit and Loss: Standalone (Reported) Note: • Operating Revenue and Total Income includes Bullion sales of ₹ Nil in Q2FY27 ( ₹ 1,959 crores in Q2FY26) and ₹ 302 crores in H1FY27 ( ₹ 3,438 crores in H1FY26) • Profitability percentages are computed on Total Income excluding Bullion sales Q2FY26 Q2FY27 YoY% Profit and Loss statement (in ₹ crores) H 1FY26 H1FY27 YoY% 14,501 17,732 22.3% Sale of products / services 27,541 35,465 28.8% 2,033 98 (95%) Other operating revenue 3,557 466 (87%) 109 115 5.1% Other Income 216 256 18.5% 16,643 17,945 7.8% Total Income 31,314 36,187 15.6% 13,229 13,319 0.7% COGS 24,684 27,033 9.5% 3,414 4,627 35.5% Gross Contribution (‘GC’) 6,630 9,154 38.1% 23.2% 25.8% 253 bps GC % 23.8% 25.5% 173 bps 485 483 (0.4%) Employee benefits expense 952 1,027 7.9% 334 375 12.2% Advertising expenses 597 720 20.6% 866 1,027 18.6% Other expenses 1,613 1,961 21.6% 1,685 1,885 11.9% Total Overheads 3,162 3,708 17.3% 1,729 2,742 58.6% EBITDA 3,468 5,446 57.0% 11.8% 15.3% 350 bps EBITDA % 12.4% 15.2% 274 bps 146 167 14.4% Depreciation 289 3 24 12.1% 1,583 2,574 62.6% EBIT 3,179 5,122 61.1% 10.8% 14.3% 356 bps EBIT % 11.4% 14.3% 287 bps 222 451 103% Finance costs 4 38 718 64.0% 1,361 2,123 56.0% PBT 2,741 4,404 60.7% 9.3% 11.8% 256 bps PBT % 9.8% 12.3% 244 bps - - - Exceptional items - - 355 551 55.3% Tax 705 1,133 60.7% 1,006 1,572 56.2% PAT 2,036 3,271 60.6% 6.9% 8.8% 191 bps PAT % 7.3% 9.1% 181 bps
Page 72
72 Profit and Loss: Consolidated (Reported) Note: • Operating Revenue and Total Income includes Bullion sales of ₹ 226 in Q2FY27 ( ₹ 2,430 crores in Q2FY26) and ₹ 975 crores in H1FY27 ( ₹ 4,279 crores in H1FY26) • Profitability percentages are computed on Total Income excluding Bullion sales Q2FY26 Q2FY27 YoY% Profit and Loss statement (in ₹ crores) H 1FY26 H1FY27 YoY% 16,461 20,337 23.5% Sale of products / services 31,275 41,124 31.5% 2,264 277 (88%) Other operating revenue 3,973 846 (78.7%) 112 145 29.5% Other Income 217 291 34.1% - 671 Fair Value change of put option liability over NCI - 671 18,837 21,430 13.8% Total Income 35,465 42,932 21.1% 14,709 15,022 2.1% COGS 27,520 30,971 12.5% 4,128 6,408 55.2% Gross Contribution (‘GC’) 7,945 11,961 50.5% 25.2% 30.2% 506 bps GC % 25.5% 29.0% 349 bps 616 749 21.6% Employee benefits expense 1,207 1,553 28.7% 408 471 15.4% Advertising expenses 736 907 23.2% 1,117 1,388 24.3% Other expenses 2,080 2,665 28.1% 2,141 2,608 21.8% Total Overheads 4,023 5,125 27.4% 1,987 3,800 91.2% EBITDA 3,922 6,836 74.3% 12.1% 17.9% 581 bps EBITDA % 12.6% 16.6% 398 bps 189 263 39.2% Depreciation 373 519 39.1% 1,799 3,536 96.6% EBIT 3,550 6,318 78.0% 11.0% 16.7% 571 bps EBIT % 11.4% 15.3% 392 bps 277 536 93.5% Finance costs 548 889 62.2% 1 (1) Share of profit/ (loss) in associates 1 1 1,522 3,000 97.1% PBT 3,002 5,429 80.8% 9.3% 14.1% 487 bps PBT % 9.6% 13.1% 352 bps - - Exceptional items - - 402 607 51.0% Tax 791 1,259 59.2% 1,120 2,393 114% PAT 2,211 4,170 88.6% 6.8% 11.3% 446 bps PAT % 7.1% 10.1% 301 bps
Page 73
73 Balance Sheet: : Standalone (Reported) Particulars (in ₹ crores) Mar - 26 Sep - 26 Change (absolute values) Fixed Assets 1,752 1,808 56 Right of use asset 1,592 1,695 103 Intangible Assets 94 89 (5) Investments 6,836 6,666 (170) Other non - current assets 1,194 1,259 65 Non - Current Assets 11,468 11,517 49 Inventories 34,980 42,686 7,706 Trade Receivables 892 2,186 1,294 Cash and Cash Equivalents 156 392 236 Other Bank Balances 694 334 (360) Investments 2,196 1,451 (745) Other Current Assets 3,230 6,093 2,863 Current Assets 42,148 53,142 10,994 Total Assets 53,617 64,659 11,042 Total Equity 20,487 22,148 1,661 Borrowings - - - Lease liability 2,142 2,266 124 Other non - current liabilities 213 196 (17) Non - Current Liabilities 2,355 2,462 107 Borrowings 6,239 19,876 13,637 Gold on Loan 14,314 10,321 (3,993) Trade Payables 1,915 2,746 831 Lease liability 314 339 25 Other Current Liabilities 7,993 6,767 (1,226) Current Liabilities 30,775 40,049 9,274 Total Liabilities 33,130 42,511 9,381 Total Equity & Liabilities 53,617 64,659 11,042
Page 74
74 Balance Sheet: : Consolidated (Reported) Particulars (in ₹ crores) Mar - 26 Sep - 26 Change (absolute values) Fixed Assets 2,955 3,056 101 Right of use asset 2,195 2,326 131 Intangible Assets 1,133 1,129 (4) Goodwill 758 790 32 Investments 1,257 1,090 (167) Other non - current assets 1,482 1,664 182 Non - Current Assets 9,780 10,055 275 Inventories 42,743 50,861 8,118 Trade Receivables 916 1,836 921 Cash and Cash Equivalents 873 686 (187) Other Bank Balances 1,044 375 (669) Investments 2,249 1,582 (667) Other Current Assets 2,956 6,411 3,455 Current Assets 50,781 61,751 10,970 Total Assets 60,561 71,806 11,245 Total Equity 15,703 18,263 2,560 Borrowings 93 74 (19) Lease liability 2,712 2,887 175 Other non - current liabilities 2,260 1,620 (640) Non Current Liabilities 5,065 4,581 (484) Borrowings 11,285 24,191 12,906 Gold on Loan 16,070 12,278 (3,792) Trade Payables 2,864 3 ,932 1,068 Lease liability 461 486 25 Other Current Liabilities 9,113 8,075 (1,038) Current Liabilities 39,793 48,962 9,169 Total Liabilities 44,858 53,543 8 ,685 Total Equity & Liabilities 60,561 71,806 11,245
Page 75
The Future We Embrace 75 Thank Y ou! For any queries, please email at investor - relations@titan.co.in