Interim report
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Titan Company Limited `INTEGRITY` #193 Veerasandra Electronics City P.O. Off Hosur Main Road, Bangalore 560100 India. Tel: 9180 6704 7000 Fax: 9180 6704 6262 Registered Office 3, Sipco Industrial Complex Hosur 635 126 TN India. Tel-91 4344 664 199 Fax 91 4344 276037, CIN: L74999TZ1984PLC001456 www.titancompany.in SEC 84 / 2026-27 5th November 2026 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G Dalal Street Bandra Kurla Complex Mumbai 400 001 Bandra (E), Mumbai 400 051 Maharashtra, India Maharashtra Scrip Code: 500114 Symbol: TITAN Dear Sir/ Madam, Sub: Outcome of the Board Meeting in accordance with the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015 The Board at its meeting held today, i.e. Thursday, 5th November 2026 transacted, inter alia, the following businesses: 1. Financial Results: Approved the Unaudited Standalone and Consolidated Financial Results for the second quarter and half year ended 30 th September 2026. In this regard, please find enclosed as Annexure A: a) Unaudited Standalone and Consolidated Financial Results of the Company for the second quarter and half year ended 30th September 2026. b) Auditor's Limited Review Report in respect of the Unaudited Standalone and Consolidated Financial Results of the Company for the second quarter and half year ended 30th September 2026. 2. Limited Review Report: B S R & Co., LLP, Statutory Auditors of the Company, have issued the Limited Review Report of the Financial Results with unmodified opinion on the above-mentioned results. 3. Retirement of Mr. Noel N. Tata: In accordance with the Tata Group Governance Guidelines, Mr. Noel N. Tata (DIN: 00024713) will retire from the office of Vice Chairman and Director of the Company with effect from 12th November 2026. Mr. Tata has been associated with the Company since August 2003 and during his tenure, he has provided valuable guidance and strategic direction to the Company. His extensive experience and deep understanding of the consumer and retail businesses have greatly enriched the Board’s deliberations and contributed to the Company’s evolution and growth over the years.
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Titan Company Limited `INTEGRITY` #193 Veerasandra Electronics City P.O. Off Hosur Main Road, Bangalore 560100 India. Tel: 9180 6704 7000 Fax: 9180 6704 6262 Registered Office 3, Sipco Industrial Complex Hosur 635 126 TN India. Tel-91 4344 664 199 Fax 91 4344 276037, CIN: L74999TZ1984PLC001456 www.titancompany.in The Board of Directors places on record its deepest appreciation and profound gratitude for his invaluable contributions to the Company over the past 23 years. The disclosures required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is provided as Annexure B 4. Appointment of Statutory Auditors : The Board of Directors, based on the recommendation of the Board Audit Committee, has approved and recommended the appointment of Price Waterhouse Chartered Accountants LLP as the Statutory Auditors of the Company for a period of five years, subject to shareholders' approval , from the conclusion of the 43rd Annual General Meeting to be held in 2027 until the conclusion of the 48 th Annual General Meeting thereafter, subject to the approval of the shareholders of the Company. The disclosures required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is provided as Annexure C 5. Issue of rated, listed, redeemable unsecured NCDs: The Board of Directors have reviewed and approved the proposal for raising of funds through issuance of rated, listed, redeemable, unsecured Non -Convertible Debentures (NCDs) on private placement basis, for an amount up to ₹ 2,500 crore. The Board has also authorized a Committee of the Board to take all actions in respect of finalization of terms of issuance and allotment of NCDs. The disclosures required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 shall be made at the appropriate stage, upon issuance and/or allotment of the NCDs. The Board meeting commenced at 2:00 p.m. and the meeting concluded at 4:15 p.m. The above information is also available on the website of the Company: www.titancompany.in Kindly acknowledge receipt. Yours truly, For TITAN COMPANY LIMITED Dinesh Shetty General Counsel & Company Secretary Encl. As stated
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TIT/\N CO M PANY TITAN EXTENDS STRONG RUN IN Q2FY27, GROWS 25% FOR THE QUARTER I All Businesses deliver a broad-based performance ahead of the festive; Studded-led Jewellery growth and robust performances across Watches, EyeCare, TEAL and International Business power overall results Bengaluru, SthNovember 2026 Titan Company Limited ('Titan'), announced its Q2FY27 results today . Key highlights {Consolidated performance) compared to Q2FY26: • Financial Performance : Total Income was ~20,533 crores, up 25% for the quarter, sustaining the healthy growth momentum of the past periods • Profitability: Profit before Tax was ~2,329 crores at 11.3% margin, recording a 53% increase . Adjusting for the impact of custom duty increase in gold for the quarter , the Profit Before Tax was ~1, 793 crores at 8. 7% margin, up 18% for the period • Jewellery: Jewellery portfolio grew 24% to ~17,495 crores (exc/. Bullion and Digi-gold soles), powered by 'Festival of Diamonds ' and brand-level promotions that drove studded growth in the early thirties, underscoring resilient consumer demand even as the festive calendar shifted to Q3FY27 • Watches: Led by continuing premiumization trends and enduring consumer preference for analog timepieces, the Watches portfolio clocked one of its strongest quarterly performances, growing 27% to ~1,881 crores • EyeCare: EyeCare clocked a robust 28% growth to ~281 crores, driven by focused execution centered on a multi-brand approach, an upgraded store network and a sharper merchandise portfolio enhancing the overa ll customer experience • Titan strengthens watchmaking capabilities with Vetra: Marking a milestone in its horological journey, Titan introduced Vetra, its in-house movement, advancing its expertise in movement development and innovation • Tanishq marks 30 years of trust, craftsmanship and meaningful connections: Celebrating three decades of being part of women's journeys, Tanishq honored the key milestones, aspirations and cherished moments that have shaped its enduring legacy I Financial Highlights: Particulars Consolidated (~ crores) Q2FY26 Q2FY27 YoY% I H1FY26 H1FY27 YoY% Total Income 16,407 20,533 25% 31,186 41,286 32% Earnings before Interest & Tax 1,799 2,865 59% 3,550 5,647 59% % 11.0% 14.0% 299bps 11.4% 13.7% 229bps Profit before Tax 1,522 2,329 53% 3,00 2 4,758 58% % 9.3% 11.3% 207bps 9.6% 11.5% 190bps Profit after Tax 1,120 1,722 54% 2,211 3,499 58% % Note: o. b. C. d. ~ 6.8% 8.4% 156 bps 7.1% 8.5% 139bps Total Income excludes Bullion sales & Digi-gold sales in all the periods The above representation excludes the non-operational Ind-AS credit of '{671 crores in both Total Income and Profits. Please refer to Note 9 of the reported financial statements The above profits reflect the reported consolidated financials and include custom duty gains af ,536 crares for Q2FY27 and ,943 croresfor H1FY27. Profits, excluding these gains (for the quarter) are detailed in the Jewellery (India) Business performance section \ Numbers and growth percentages rounded to the nearest integers • ' -\. Titan Company Limited __- ·INTEGRIrv·, #193, Veerasan dra, Electronics City P.O., Off Hosur Main Road, Bengaluru 560100, Karnataka. India. Tel: +91-80-6704-7000 Fax: +91-80-6 704-6262 Registered Office: 3, SIPCOT Industr ial Complex, Hosur 635126, Tamil Nadu, India. Tel: +91-4344-6 64-199 Fax: +91-4344 -276-037: CIN: L74999TZ1984PLC001456 www.titancompany.in A TATA Enterprise
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~ I Business Performance: Jewellery © Growth was broad-based , with key portfolio brands growing well dur ing the quarter. Consumers' design jewellery preferences resulted in strong growth in the studded jewellery category and driving sizeable increase in average ticket sizes power ing overall growth for the Division . The lnternationa i Jewellery business saw Tanishq recording healthy traction in North America and encouraging growth in the GCC. The overall consumer demand across GCC however continued to be impacted by the volatile geopo litical disruptions in the region. The Jewellery Business grew 24% over Q2FY26 to ~17,495 crores . Within this, compared to Q2FY26, o The India Business Income rose 21% to ~16,343 crores, comprising of • Tanishq, Mia and Zaya business (combined) growing 20% to U4,935 crores • CaratLane recording 31% growth to reach ~1,408 crores o The Internationa l business grew 105% to ~1,152 crores • Tanishq, Mia and CaratLane business (combined} grow ing 41% to U88 crores • Damas (core) business clocked Revenue of ~364 crores • The Jewellery Business achieved an EBIT of ~2,300 crores at a margin of 13.1%. Within this , compared to Q2FY26, o The India Business clocked an EBIT of ~2,281 crores at 14.0% margin (adjusted for Custom Duty ('CD') gains of 'f536 crores, EB/Twas 'fl,745 crores at 10.7% margin). Within this, ■ Tanishq, Mia and Zaya business (combined} recorded an EBIT of ~2,142 crores at 14.3% margin (adjusted for CD gains of 'f490 crores, EB/Twas 'fl,652 crores at 11.1% margin) ■ CaratLane recorded an EBIT of ~138 crores at 9.8% margin (adjusted for CD gains of 'f46 crores, EBIT was 'f92 crores at 6.6% margin) o The International jewellery business recorded an EBIT of ~20 crores • Tanishq, Mia and CaratLane business (combined) recorded an EBIT of ~43 crores at 5.5% margin • Damas business recorded a loss of ~24 crores Note: 1. All figures above exclude Bullion and Digi-Gold sales in all the periods; 2. Numbers, growth percentages rounded to nearest integers 3. Damas f inancials included post-acquisition from Q4FY26 During the quarter, the Division added 42 stores {net) in India, compr ising of 7 Tanishq stores, 18 Mia stores, 4 be Yon stores and 13 CaratLane stores. Tanishq opened a new store in Los Angeles, USA during the quarter . Watches f The Watches business saw strong outperformance with analog watches growing in the early thirties, leading overall growth for the Division. The Smart Watches business got back to growth this quarter, with a high single digit increase. Business achieved Tota l Income of ~1,881 crores for the quarter growing 27% over Q2FY26 and achieving an EBIT of ~412 crores at 21.9% margin. 34 new stores {net) were added in India in the quarter consist ing of 17 stores in Titan Wor ld, 7 in Fastrack, 3 stores in Helios, 6 stores in Helios Luxe and 1 Nebula store. EyeCare6@1 Business accelerated its growth momentum in the quarter through focussed execution and continued premium ization across the product portfol io. Business achieved Total Income of ~281 crores in Q2FY27 growing 28% over Q2FY26 and recorded an EBIT of ~ ~23 crores at 8.2% margin. \ ~ v .Q., ' --Titan Company Limited INTEGRITY, #193, Veerasandra, Electronics City PO, Off Hosur Main Road, Bengaluru 560100, Karnataka, Indra Tel +91-80-6704-7000 Fax +91-80-6704-6 262 Registered Office 3, SIPCOT lndustrral Complex, Hosur 63S126, Tamil Nadu, India Tel +91-4344-664-199 Fax +91-4344 -276-037 CIN L74999T21984PLC001456 www t1tancompany rn A TI\TI\ Enterprise
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n. Emerging Businesses 9 The Emerging Businesses delivered healthy double-digit growth across SKINN Fragrances, IRTH Women's Bags and Indian Dress Wear ('Taneira'). Fragrances maintained its strong volume momentum across both the Skinn and Fastrack perfume lines, IRTH Women's Bags saw growth driven by higher average selling prices and new store openings whereas Taneira's growth was driven by better same store performance. Total Income for all the businesses (combined) for Q2FY27 grew 21% to ~171 crores recording a loss of ~6 crores for this period. Titan Engineering & Automation Limited ('TEAL') ®' TEAL delivered a strong quarter with Total Income of %36 crores for Q2FY27 representing a growth of 53% compared to Q2FY26. The Automation Solutions (AS) business continued its order accretion momentum while the Manufacturing Services (MS) business maintained an healthy growth rate in this period. EBIT for the quarter was U78 crores. Commenting on the quarterly performance, Mr. Ajoy Chawla, Managing Director of the Company stated that: "Q2FY27 was a quarte r 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 attract ive 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 portfo lio, we keep innovat ing and investing for growth - strengthening brand equity , deepening customer engagement and creating enduring value for all our stakeho lders." I Conference Call: The earnings conference call is scheduled on November 5, 2026, at 6:00 PM, India time. The registration deta ils for the call can be accessed at https ://titanco.short .gy/kkzV8M I About Titan: Titan Company Limited ('Titan), a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporat ion ('TIDCO'), commenced its operations in 1987 under the name Titan Watches Limited . In 1994, Titan diversified into Jewellery ('Tanishq') and subsequently into EyeCare. Over the last three decades, Titan has expanded into underpenetrated markets and created lifestyle brands across different product categories includ ing Fragrances ('Skinn'), Indian Dress Wear ('Taneira'), thoughtfully designed Women Bags ('lrth') and recently in Lab grown Diamonds ('beYon '). Titan is widely known for transforming the watch and jewellery industry in India and for shaping India's retail market by pioneering experiential reta il in all of its consumer product categories. Learn more about Titan on: https ://www.titancompany.in/ ml X @ For more information, please contact: Investor Relations: investor-relations@titan.co .in investor@t itan .co.in Corporate Communications: corpcomm@titan.co. in Titan Company Limited 'INTEGRITY", #193, Veerasandra, Electronics City P.O., Off Hosur Main Road, Bengaluru 560100, Karnataka, India. Tel: +91-80-6704-7000 Fax: +91-80-6704-6 262 Registered Office: 3, SIPCOT Industrial Complex, Hosur 6351 26, Tamil Nadu, India. Tel: +91-4344-66 4-19 9 Fax: +91-4 344 -276-037: CIN: l749 99TZ1984PLC0014 56 www.titancompany .in A TATA Enterprise
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BS R & Co. LLP Chartered Accoun tants Embassy Golf Links Business Park Pebble Beach, B Block, 3rd Floor No. 13/2, off Intermediate Ring Road Bengaluru - 560 071, India Telephone: +91 80 4682 3000 Fax: +91 80 4682 3999 Limited Review Report on unaudited consolidated financial results of Titan Company Limited for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 pursuant to Regulation 33 and Regulation 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021 /613 dated 10 August 2021, as amended To the Board of Directors of Titan Company Limited 1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Titan Company Limited (hereinafter referred to as "the Parent"), and its subsidiar ies (the Parent and its subsidiaries together referred to as "the Group") and its share of the net profit after tax and total comprehensi ve income of its associate and joint venture for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 ("the Statement "), being submitted by the Parent pursuant to the requirements of Regulation 33 and Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations") , as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended. 2. This Stateme nt, which is the responsibility of the Parent's management and approved by the Parent's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries , primarily of persons responsible for financial and accounting matters , and applying analytical and other review procedures . A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly , we do not express an audit opinion . We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33(8) of the Listing Regulations , to the extent applicable. 4. The Statement includes the results of the entities mentioned in Annexure I to the Statement. ~ 8 SR & Co. (a partnership firm with Registration No. BA61223) converted into 8 SR & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 Registered Office: 14th Floor, Central B VVing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 4
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BS R & Co. LLP Limited Review Report (Continued) Titan Company Limited 5. Based on our review conducted and procedures performed as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement , prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/C IR/2021/613 dated 10 August 2021, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement. Mumbai 05 November 2026 For B S R & Co. LLP Chartered Accountants Firm's Registration No.:101248W/W-100022 t -Jr;.r ~ 4 n Ramesh Partner Membership No.: 218495 UDIN:26218495UJZWPS6739 Page 2 of 4
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BS R & Co . LLP Limited Review Report (Continued) Titan Company Limited Annexure I List of entities included in unaudited consolidated financial results. Sr. Name of component Relationship No 1 Titan Company Limited (includes ESOP trust) Parent 2 Titan Engineering & Automation Limited Subsidiary 3 TEAL USA Inc. Subsidiary of Titan Engineering & Automation Limited 4 CaratLane Trading Private Limited Subsidiary 5 StudioC Inc. Subsidiary of CaratLane Trading Private Limited 6 Titan Holdings International FZCO Subsidiary 7 Titan Watch Company Limited, Hong kong Subsidiary of Titan Holdings International FZCO 8 Titan Global Retail L.L.C Subsidiary of Titan Holdings International FZCO 9 Titan International QFZ L.L.C, Qatar Subsidiary of Titan Holdings International FZCO 10 Titan Commodity Trading Limited Subsidiary 11 TCL North America Inc. Subsidiary 12 Green Infra Wind Power Theni Limited Associate 13 Signature Jewellery Holding Limited Subsidiary of · Titan Holdings International FZCO, Dubai (w.e.f 9 October 2025) 14 Damas LLC Subsidiary of Signature Jewellery Holding Limited (w.e.f 4 January 2026) 15 Damas Jewellery LLC Subsidiary of Damas LLC (w.e.f 4 January 2026) 16 Damas Jewellery DMCC Subsidiary of Damas Jewellery LLC (w.e.f 4 January 2026) Page 3 of 4
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BS R & Co. LLP 17 Damas Jewellery Kuwait Co. WLL 18 Damas Saudi Arabia Co. Ltd. 19 Damas Doha Jewellery WLL 20 Damas Jewellery SPC 21 Damas Company WLL 22 Roberto Coin Middle East LLC Limited Review Report (Continued) Titan Company Limited Subsidiary of Damas Jewellery LLC (w.e.f 4 January 2026) Subsidiary of Damas Jewellery LLC (w.e.f 4 January 2026) Subsidiary of Damas Jewellery LLC (w.e.f 4 January 2026) Subsidiary of Damas Jewellery LLC (w.e.f 4 January 2026) Subsidiary of Damas Jewellery LLC (w.e.f 4 January 2026) Joint Venture (w.e.f 4 January 2026) Page 4 of 4
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TITAN COMPANY LIMITED CIN: L74999TZ1984PLC001456 3, SIPCOT INDUSTRIAL COMPLEX, HOSUR 635 126. STATEMENT OF CONSOLIDATED UNAUDITED FINANCI AL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2026 f in crores except earnings per share Particulars 3 months ended 6 months ended Year ended 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) L Revenue from operations (refer note 4) - Sale of products/ services 20,337 20,787 16,461 41,124 31,275 76,797 - Other operating revenues 277 569 2,264 846 3,973 10,787 II. Other income 145 146 112 291 217 552 Ill. Fair value change of put option liability over NCI (refer note 9) 671 671 IV. Total income (I +II+III) 21,430 21,502 18,837 42,932 35,465 88,136 V. Expenses: Cost of materials and components consumed 19,326 11,147 20,601 30,473 31,723 69,212 Purchase of stock-in-trade 3,772 2,906 2,634 6,678 4,685 11,031 Changes in inventories of finished goods, stock-in-trade and work-in-progress (8,076) 1,8% (8,526) (6,180) (8,888) (9,936) Employee benefits expense 749 804 616 1,553 1,207 2,681 Finance costs 536 353 277 889 548 1,180 Depreciation and amortisation expense 263 256 189 519 373 826 Advertising 471 436 408 907 736 1,535 Other expenses 1,388 1,277 1,117 2,665 2,080 4,706 V. Total expenses 18,429 19,075 17,316 37,504 32,464 81,235 VI. Profit before share of profit of an associate a~d joint venture, exceptional item and tax (IV - 3,001 2,427 1,521 5,428 3,001 6,901 V) VII. Share of (loss)/ profit of: - Associate and joint venture (1) 2 1 1 1 1 VIII. Profit before exceptional item and tax (VI+ VU) 3,000 2,429 1,522 5,429 3,002 6,902 IX. Exceptional item (refer note 6) 101 X. Profit before tax (VIII - IX) 3,000 2,429 1,522 5,429 3,002 6,801 X:l Tax expense: Current tax 639 654 403 1,293 781 1,740 Deferred tax (credit)/ charge (32) (2) (1) (34) 10 (12) XI. Total tax 601 652 402 1,259 791 1,728 XII. Profit for the period (X - XI) 2,393 1,777 1,120 4,170 2,211 5,073 Xill. Other comprehensive income (i) Items that will not be redassified to the statement of profit and loss - Remeasurement of employee defined benefit plans (6) (9) (73) (15) (79) (79) - Income-tax on (i) above 2 2 19 4 20 20 (ii) Items that will be reclassified to the statement of profit and loss a. Exchange differences on translating the financial statements of foreign operations• (!) 0 (11) (1) (13) (35) - Income-tax on (a) above• 0 (1) 0 0 0 b. Net movement on Effective portion of Cash Flow Hedges 2 2 (3) - Income-tax on (b) above,. 0 0 1 XIII. Total other comprehensive (loss)/income (5) (5) (66) (10) (72) (96) XIV. Total comprehensive income (XO+ XIII) 2,388 1,m 1,054 4,160 2,139 4,977 Profit for the period attributable to: - Owners of the Group 2,393 1,777 1,120 4,170 2,211 5,073 - Non-controlling interest 2,393 1,777 1,UO 4,170 2,211 5,073 Other comprehensive (loss)/ income for the period attributable to: - Owners of the Group (5) (5) (66) (10) (72) (96) - Non-controlling interest (5) (5) (66) (10) (72) (96) Total comprehensive income for the period attributable to: - Owners of the Group 2,388 1,m 1,054 4,160 2,139 4,977 - Non-controlling interest 2,388 1,m 1,054 4,160 2,139 4,977 XV. Paid up equity sha re capital (face value~ 1 per share): 89 89 89 89 89 89 XVI. Other equity: 15,614 XVII. Earnings per equity shar e of~!: {based on net profit for the period (XU)} Basic (not annualised) 26.% 20.03 12.63 46.99 24.93 57.19 Diluted (not annualised) 26.% 20.02 12.62 46.98 24.92 57.16 "' Items not presented due to rounding off to the nearest f crore. See accompanying notes to the consol idated unaudited financial results
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TITAN COMPANY LIMITED ClN: L74999TZ1984PLC001456 3, SfPCOT INDUSTRIAL COMPLEX, HOSUR 635 126. STATEMENT OF CONSOLIDA TED UN AUDITED FINANCIAL STATEMENT OF ASSETS AND LIABILITIES AS AT SIX MONTHS ENDED 30 SEPTEMBER 2026 BALANCE SHEET , in crores As at Asat Particulazs 30-09-2026 31-03-2026 (Unaudited) (Audited) ASSETS (1) Non-current assets (a) Prope rty, plant and equipment 2,778 2,684 (b) Capital work-in-progress 142 135 (c) Right-of-use asset 2,326 2,195 (d) Investment property 136 136 (e)Goodwill 790 758 (f) Other intangible assets 1,096 1,105 (g) Intangible assets under development 33 28 (h) lnvestments accounted for using equity method 152 152 (i) Financial assets (i) Investments 938 1,105 (ii) Loans 63 66 (iii) Other financial assets 1,064 982 0) Deferred tax asse t 219 173 (k) Income tax assets (net) 94 107 (I) Other non-current assets 224 154 10,055 9,780 (2) Current assets (a) lnventories 50,861 42,743 (b) Financial assets (i) Investments 1,582 2,249 (ii) Trade receivables 1,836 916 (iii) Cash and cash equivalents 686 873 (iv) Bank balances other than (iii) above 375 1,044 (v) Loans 56 51 (vi) Other financial assets 3,721 672 (c) Other current assets 2,634 2,233 61,751 50,781 TOT AL ASSETS 71,806 60,561 EQUITY AND LIABILITIES Equity (a) Equity share capi tal 89 89 (b) Other equity (refer note 5) 18,174 15,614 Total Equity 18,263 15,703 Liabilities (1) Non-current liabilitie s (a) Financial liabilities (i) Borrowings 74 93 (ii) Lease liabilities 2,887 2,712 (iii) Other financial liabilities 1,208 1,876 (b) Provisions 371 375 (c) Deferred tax liabilities 3 (d) Other non-current liabilities 38 9 4,581 5,065 (2) Cum,nt liabilities (a) Financial liabilities (i) Borrowings 24,191 11,285 (ii) Gold on loan 12,278 16,070 (iii) Lease liabilities 486 461 (iv) Trade payables - Total outstanding dues of micro and small enterprises 267 609 -Total outstanding dues of creditors other than micro and small enterprises 3,665 2,255 (v) Other financial liabilities m 2,530 (b) Other current liabilities 6,858 6,233 (c) Provisions 113 327 (d) Current tax liabilities (net) 332 23 48,962 39,793 TOTAL EQUITY AND LIABILITIES 71,806 60,561
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TITAN COMPANY LIMITED CIN: L74999TZ1984PLC001456 3, SIPCOT INDUSTRIAL COMPLEX, HOSUR 6351 26. STATEMENT OF CONSOLIDATED UNAUDITED CASH FLOW FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2026 Particulars A. Cash flow from operating activitie s Net profit before tax Adjustments for : - Depreciation and amortisation expense - Net unrealised exchange loss/ (gain) (net) - Share of profit of the associate - Employee stock compensation expense (refer note 5) - Loss/ (gain) on disposal of property , plant and equipment (net) - Provision for doubtful trade receivables (net) and bad trade receivables written off - Government grant - Interest income - Gain on in vestments carried at fair value through profit and loss - Gain on pre-closure of lease contracts - Rent waiver - Fair value change of put option liability of NCI (refer note 9) - Finance costs Operating profit before working capital changes Adjustments for: - (increase)/ decrease in trade receivables - (increase)/ decrease in inventories - (increase)/ decrease in financial assets-loans - (increase)/ decrease in other financial assets - (increase)/ decrease in othe r assets - increase/ (decrease) in gold on loan - increase/ (decrease) in trade payables - increase/ (decrease) in other financial liabilities - increase/ (decrease) in other liabilities - increase/ (decrease) in provisions Cash (used in) / generated from ope rating activi ties before taxes - Direct taxes paid, net Net cash (used in) / generated from ope rating activities (A) B. Cash flow from investing activi ties Purchase of property, plant and equipmen t, intangible assets and investment property Proceeds from sale of prope rty, plant and equi pment Investment in non convertible debentures, government securities and certificate of deposit Proceeds from redemption of non convertib le debentures, government securities and certificate of deposit Sale of comme rcial papers Bank deposits placed Bank deposits matured Purchase of mutu al funds Sale of mutua l funds Lease payments received from sub-lease Consideration paid for business acquisition (net of cash acqui red) (refer note 8) Interest received Net cash generated from / (used in) investing activities (B) t in crores 6 months ended 6 months ended 30-09-2026 (Unaudited) 5,429 519 2 (1) 11 3 (2) 0 (163) (47) (4) (2) (671) 889 5,963 (918) (8,065) (2) (2,644) (398) (3,804) 1,048 (1,807) 651 (234) (10,210) (%7) (11,177) (408) 2 (185) 257 99 (867) 1,142 (9,446) 10,146 82 125 947 30-09-2025 (Unaudited ) 3,002 373 (2) (1) 16 2 18 (127) (58) (13) (1) 548 3,757 (380) (9,346) (4) (87) (315) 8,278 561 449 1,214 (23) 4,104 (660) 3,444 (259) 2 (581) 150 (701) 1,329 (5,446) 4,233 73 (50) 153 (1,097)
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TITAN COMPANY LIMITED CIN, L74999TZ1984PLC001456 3, SIPCOT INDUSTRIAL COMPLEX, HOSUR 635 126. STATEMENT OF CONSOLID ATED UNAUDITED CASH FLOW FOR THE SIX MONTH S ENDED 30 SEPTEMBER2026 t in crores Particulars 6 months ended 6 months ended 30-09-2026 30-09-2 025 (Unaudi ted) (Unaudited ) C. Cash flo w from financin g activitie s Proceeds from long term borrowings 34 Repayment of long term borrowings (38) (1,279) Proceeds from short term borrowings, net 12,775 554 Dividends paid (1,331) (976) Payment of lease liabilities (456) (324) Acquisition of treasury shares (281) Finance costs paid (656) (426) Net cash generated from / (used in) financin g activities (C) 10,047 (2,451) Net decrease in cash and cash equivalents during the year (A+B+C) (183) (104) Cash and cash equivalents (opening balance) 873 407 Add: Foreign currency translation adjustments (4) (2) Add: Unrealised exchange gain/{loss)"" 0 Cash and cash equivalents (dosing balance) 686 301 Debt reconciliation state ment in accord ance with Ind AS 7 Borrowin gs Opening balance 11,378 10,286 Proceeds from long term borrowing 34 Repayment of long term borrowing (38) (1,328) Proceeds from short term borrowings, net 12,775 554 Non cash changes 116 134 Closing balance 24,265 9,646 Reconcilia tion of l ease liability Opening balance 3,173 2,681 Payments made during the year (456) (324) Non-cash changes 656 462 Closine: balance 3,373 2,819 "" Items not presented due to rounding off to the nearest t crore.
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TITAN COMPANY LIMITED CIN: L74999TZ1984P LC001456 3, SIPCOT INDUSTRIA L COMPLEX, HOSUR 635 126. STATEM ENT OF CONSOLID ATED UNA UDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTE MBER 2026 SEG MENT INFORMATIO N (Refer not e 3) 3 months ended 6 months ended Particulars 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 (Unaudited) (Unaudited) (Unaudited ) (Unaudited) (Unaudited) Segme nt revenues and profit and loss a) Revenue (including other income) Watches 1,881 1,543 1,477 3,424 2,750 Jewe llery (refer note 4) 17,721 19,002 16,522 36,723 31,169 Eyecare 281 289 220 570 458 Others 808 566 557 1,374 972 Corporate (unallocated) 739 102 61 841 116 Total 21,430 21,502 18,837 42,932 35,465 b} Profit/ (loss) from segments befo re finance costs, exceptiona l item and tax Watches 41 2 295 238 707 525 Jewelle ry 2,300 2,360 1,506 4,660 2,914 Eyecare 23 24 12 47 32 Others 173 104 70 277 131 Corporate (unallocated) 628 (1) (27) 627 (52) Total 3,536 2,782 1,799 6,318 3,550 Finance costs 536 353 277 889 548 Exceptional item (refer note 6) Profit before tax including share from associate and joint venture 3,000 2,429 1,522 5,429 3,002 c) Segment assets and liabilities Segment assets Watches 5,763 5,367 4,715 5,763 4,715 Jewellery 57,839 49,692 39,375 57,839 39,375 Eyecare 778 726 706 778 706 Others 2,305 2,050 1,859 2,305 1,859 Corporate (Unalloca ted) 5,121 6,049 5,375 5,121 5,375 Total 71,806 63,884 52,030 71,806 52,030 Segment liabilities Watches 1,605 1,502 1,549 1,605 1,549 Jewelle ry 28,918 31,537 27,890 28,918 27,890 Eyecare 439 446 401 439 401 Others 1,050 979 933 1,050 933 Corporate (UnaJloca ted) 21,531 11,932 8,454 21,531 8,454 Total 53,543 46,396 39,227 53,543 39,227 f in crores Year ended 31-03-2026 (Audited) 5,267 79,660 916 2,006 287 88,136 824 7,209 77 173 (201) 8,082 1,180 101 6,801 4,970 47,325 728 1,910 5,628 60,561 1,528 33,753 440 940 8,197 44,858
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TITAN COMPANY LIMITED CIN: L74999TZ1984PLC00!456 3, Sil'CITT INDUSTRIAL COMPLEX, HOSUR 635126. ADDITIONAL DISCLOSURES AS PER REGULATION 52(4) OF SEBI (LISTING OBl!GATIONS AND DISCLOS _URE REQUIREMENTS) REGULATIONS, 2015 Particulars - 1. Debt Equity Ratio 2. Debt Service Coverage Ratio (not annualised} 3. lnterest Service Coverage Ratio (not annualised) 4. Current Ratio 5. Long term debt to working capital ratio 6. Bad debts to accounts receivable ratio"' 7. Current liability ratio 8. Total debt to total assets ratio 9. Debtors turnover ratio (not annualised) 10. Operating margin(%) 11. Net profit margin(%) 12. Inventory turnover ratio (not annualised) 13. Capital Redemption Reserve/Debenture Redemption Reserve 14. Net worth [t crores] (As per section 2(57) of Companies Act, 2013) 15. The Company has not issued any secured listed non-con vertible debt securities. "'Values are insignificant Note: Formulae for computation of ratios are as follows: Particulars 1. Debt Equity Ratio 2. Debt Service Coverage Ratio (not annualised) 3. Interest Service Coverage Ratio (not annualised) 4. Current Ratio 5. Long term debt to working capital ratio 6. Bad debts to accounts receivable ratio 7. Current liability ratio 8. Total debt to total assets ratio 9. Debtors turnover ratio (not annualised) 10. Operating margin(%) II. Net profit margin(%) 12. Inventory turnover ratio (not annualised) 3 months ended 6 months ended Year ended 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaud ited) (Audited) 1.51 1.01 0.97 1.51 0.97 0.93 2.70 1.61 1.42 2.02 1.18 1.55 10.09 13.99 11.57 11.50 11.11 12.15 1.26 1.31 1.26 1.26 1.26 1.28 0.04 0.04 0.20 0.04 0.20 0.05 0.00 0.00 0.00 0.00 0.00 0.00 0.91 0.89 0.91 0.91 0.91 0.89 0.34 0.22 0.19 0.34 0.19 0.19 13.33 19.66 14.31 30.50 28.14 88.29 13.47% 12.76% 9.31% 13.11% 9.80% 8.89% 11.61% 8.32% 5.98% 9.94% 6.27% 5.79% 0.32 0.37 0.45 0.66 0.84 1.98 NA NA NA NA NA NA 18,263 17,488 12,803 18,263 12,803 15,703 Formulae Nume rator Denominator Debt consists borrowings and lease liabilities Total Equity Earnings for debt service= Profit after tax+ Non cash Debt service= Finance cost & Lease payments+ operating expenses + Finance cost+ other non cash Principal repayments (net) adjustments Profit before exceptional item and tax+ Interest on Interest on Borrovvings borrowings Total current assets Total current liabilities Long term borrowings (Induding current maturities Current assets(-) Current liabilities [exduding of long term borrowings) current maturities of long term borrowings] Bad Debts Average gross trade receivables Total current liabilities Total liabilities Total borrowings Total assets Revenue from operations Average trade receivables Profit before depreciation, interest on Borrowings, Revenue from operations exceptional item and tax(-) Other income Profit after tax Revenue from operations Cost of goods sold= Cost of materials and components consumed+ Purchase of stock-in -trade+ Average Inventory Changes in inventories of finished goods, stock-in- trade and work-in-progress
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TITAN COMPANY LIMITED CIN: L74999TZ1984PLC001456 3, SIPCOT INDUSTRIAL COMPLEX, HOSUR 6351 26. Notes: 1 The consolidated unaudited financial results of the Group have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015 as amended. The consolidated unaudited financial results for the quarter ended 30 September 2026 can be viewed on the website of the Company, National Stock Exchange of India Limited (NSE) and BSE ltd. Informatioil of unaudited standalone financial results of the Company in terms of Regulation 47(1)(b) of the SEBI (listing Obligations and Disclosure Requirements) Regulations, 2015 (" SEBI Regulations") is as under: Particulars Revenue from operations Profit before tax Net profit for the period (after tax) Total comprehensive income 2 The consolidated unaudited financial results includes results of: Subsidiaries CaratLane Trading Private Limited StudioC Inc. (Wholly owned subsidiary ofCaratLane Trading Private Limited) Titan Engineering & Automation Limited TEAL USA Inc. (Wholly owned subsidiary of Titan Engineering & Automation Limited) Titan Holdings International FZCO Titan Watch Company Limited, Hong Kong (Wholly owned subsidiary of Titan Holdings International FZCO) Titan Global Retail L.L.C (Wholly owned subsidiary of Titan Holdings International FZCO) Titan International QFZ L.L.C, Qatar (Wholly owned subsidiary of Titan Holdings International FZCO) Signature Jewellery Holding Limited (Subsidiary of Titan Holdings International FZCO w.ej 9 October 2025 ) Damas LLC (Subsidiary of Signature Jewellery Holding Limited w.ej 4 January 2026 consolidated from 1 January 2026) Damas Jewellery LLC (Subsidiary of Damas LLC w.ej 4 January 2026 consolidated from 1 January 2026) Damas Jewellery DMCC (Subsidiary of Damas Jewellery LLC w.ej 4 January 2026 consolidated from 1 January 2026) Damas Jewellery Kuwait Co. WLL (Subsidiary of Damas Jewellery LLC w.ej 4 January 2026 consolidated from 1 January 2026) Damas Saudi Arabia Co. Ltd. (Subsidiary of Damas Jewellery LLC w.ej 4 January 2026 consolidated from 1 January 2026) Damas Doha Jewellery WLL (Subsidiary of Damas Jewellery LLC w.ej 4 January 2026 consolidated from 1 January 2026) Damas Jewellery SPC (Subsidiary of Damas Jewellery LLC w.ej 4 January 2026 consolidated from 1 January 2026) Damas Company WL.L (Subsidiary of Damas Jewellery LLC w.ej 4 January 2026 consolidated from 1 January 2026) Titan Commodity Trading Limited TCL North America Inc. Associate Compan y Green Infra Wind Power Theni Limited Joint Venture Roberto Coin Middle East LLC. (w.ej4 January 2026 equity accounting from 1 January 2026) , ~ 30-09-2026 (Unaud ited ) 17,830 2,123 1,572 1,566 fin Crores 3 months ended 6 months ended Year ended 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 (Unaudited) (Unaudited) (Unaudited) (Unaud ited ) (Audited ) 18,101 16,534 35,931 31,098 77,554 2,281 1,361 4,404 2,741 6,198 1,699 1,006 3,271 2,036 4,630 1,695 954 3,261 1,982 4,575
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TITAN COMPANY LIMITED CIN: L74999TZ1984PLC001456 3, SIPCOT INDUSTRIAL COMPLEX, HOSUR 635126. Notes (Contd.): 3 The Group is structured into four verticals namely Watches, Jewellery, Eyecare and Others, where "Others " indude Aerospace & Defence, Automation Solutions, Accessories, Fragrances and Indian dress wear. Accordingly , the Group has presented its segment results under these business segments in the manner consistent with the internal reporting to the Chief operating decision maker (CODM). The geographical information is as follows : The reven ue (including other income ) for India and other than India are as follows t in Crores Particulars 3 months ended 6 months ended Yea:r ended 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) India 19,293 19,738 17,925 39,031 33,710 83,768 Rest of the world 2,137 1,764 912 3,901 1,755 4,368 Total 21,430 21,502 18,837 42,932 35,465 88,136 4 During the quarter and six months ended 30 September 2026, the Group sold gold-ingots aggregating ~ 226 crores including digi-gold (previous quarter ended 30 September 2025 ~ 2,429 crores including digi-gold) and t 975 crores including digigold (previous six months ended 30 September 2025 f 4,279 crores induding digi-gold), which is disclosed as revenue from operations. During the quarter ended 30 June 2026, the Group sold gold-ingots aggregating f 749 crores including digi-gold, which is disclosed as revenue from operations. During the quarter ended 31 March 2026, the Group sold gold-ingots aggregating f 6,804 crores inducting digi-gold, which is disclosed as revenue from operations. 5 The Board had approved the Titan Company Limited Performance Based Stock Units Scheme 2023 ("Scheme 2023") and the Titan Company Limited Performance Based Stock Units Scheme 2026 ("Scheme 2026") for eligible employees of the Group, at its meetings held in February 2023 and August 2026, respecti vely. Accordingl y, grant letters under Scheme 2023 and Scheme 2026 have been issued to eligible employees from time to time. Certain tranches of PSUs granted under Scheme 2023 vested in May 2026 and August 2026, in accordance with the terms of the Scheme. During the quarter and six months ended 30 September 2026, an expense of t'6 crore (quarter ended 30 September 2025: f8 crore) and t'll crore (six months ended 30 September 2025: '16 crore), respecti vely, has been recognised under employee benefits expense towards Performance Stock Units (PSUs) granted under the Scheme 2023 and Scheme 2026, as applicable. During the quarter ended 30 June 2026, an expense of fS crore had been recognised under employee benefits expense towards PSUs. The Compan y has formed the ''Titan Employee Stock Option Trust " to give effect to the PSU scheme and the books of the Trust has been consolidated with the standalone financial statements of the Company. As at 30 September 2026, the Trust had acquired a total of 13,12,197 equity shares from secondary market for the purpose of implementation of the PSU schemes, including 5,71,297 shares acquired during the current quarter. Out of the total shares acquired, 3,85,621 shares have been exercised by emplo yees under Scheme 2023 as on 30 September 2026 and equivalent shares have been transferred to the eligible employees from the Trust. 6 On 21 November 2025, the Government of India notified the four Labour Codes - the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Ocrupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws. The Ministry of LaOOur & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to changes in regulations. The Group had evaluated and disclosed the incremental impact of these changes using the best information rurrently available, consistent with the guidance provided by the Institute of Chartered Accountants of India. Considering the materiality and regulatory-driven, non-recurring nature of this impact, the Group had presented such incremental impact amounting to f 101 crore as an exceptional item in the consolidated financial results for year ended 31 March 2026. The increase is primarily on account of past service cost for gratuity and leave liability due to change in wage definition for employees and contract labour. The Group continues to monitor the finalisation of Central/ State Rules and clarifications from the Government on other aspects of the Labour Code and would prov ide appropriate accounting effect on the basis of such developments as needed. 7 During the quarter and six months ended 30 September 2026, the Company has not received any complaint from its commercial paper (CP) investors and there were no investor complaint pending for redressal at the beginning and at the end of the quarter. All payment of CPs issued by the Compan y have been made on time and there is no pending dues thereof. CARE Cou on Rate CARE Al+ 5.80%-7.20% Details of due dates of payment of CPs issued during the rurrent period are given below: !SIN Issue Date Due Date Amount in f Cr INE280Al4534 16-Apr-26 25-Jun-26 1,000 INE280Al4542 24-Apr-26 08-Jun-26 1,000 INE280Al4559 27-Mav-26 22-Jun-26 400 INE280Al4567 08-Jun-26 04-Sep-26 1,000 INE280Al4575 12-Jun-26 10-Sep-26 1,000 INE280Al4583 10-Jul-26 08-0ct -26 825 INE280Al4591 21-Jul-26 19-0ct-26 1,000 INE280Al4609 07-Au2-26 05-Nov-26 1,600 INE280Al46!7 14-Aug-26 12-Nov-26 1,000 INE280Al4625 28-Au2-26 26-Nov-26 1,075 INE280Al4633 04-SeD-26 03-Dec-26 1,000 INE280Al4641 !O-Sep-26 10-Dec-26 1,000 INE280Al4641 ll-Sep-26 10-Dec-26 1,000 INE280Al4658 ll-Sep-26 09-Nov-26 350 INE280Al4658 15-Sep-26 09-Nov-26 500
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TITAN COMPANY LIMITED CIN: L74999TZ1984PLC001456 3, SIPCOT INDUSTRIAL COMPLEX, HOSUR 635 126. Notes (Contd.): 8 During the year ended 31 March 2026, Titan Holding International FZCO ('Titan Holding "), a wholly O\vned subsidiary of the Company , acquired a 67°/4 equity interest in Damas LLC through Signature Jeweller y Holding Limited, for a consideration of ~ 1,190 crores, thereby obtaining control over Damas LLC and the Group recognized provisional amounts for the acquisition of Damas, as the valuation of tangible assets and leases had not been finalized. During the quarter ended 30 June 2026, within the measurement period prescribed under Ind AS 103, the valuation exercise was completed. Based on the final valuation, the fair value of tangible assets decreased by f 24 crore, resulting in a corresponding increase in goodwill off 24 crore. The goodwill primarily represents expected synergies and the value of assembled workforce and has been allocated to the Damas cash-generating unit (CGU). The goodwill is not income tax deductible. The details of the final purchase price allocation are as fo11ows: Description Amount int' Cr Net asset taken over (A) 1,472 Identifiable intangible assets - Brand /Bl 763 Goodwill/Cl 623 Less: Fair value of financial liability (D) 1,668 Consideration Daid (E=A+B-+C-D) 1,190 Tota l purchase consideration 2,858 9 The Group holds a call option to acquire the remaining 33% equity interest, while the minority shareholders hold a corresponding put option exercisable on 31 December 2029. Accordingly, during the quarter, the NCI put option liability was remeasured, resulting in a decrease in the liability off 671 crore. The corresponding gain has been recognised in the Statement of Profit and Loss under "Fair value change of put option liability over NCI". 10 The statutory auditors have carried out limited review of the consolidated unaudited financial results for the quarter and six months ended 30 September 2026 and have issued an unmodified review report. 11 The consolidated unaudited financia l results of the Group for the quarter and six months ended 30 September 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings on 5 November 2026. Place: Mumbai Date: 5 Novembe r 2026 AjoyChawla ~ naging Director
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BS R & Co. LLP Chartered Accountants Embassy Golf Links Business Par!< Pebble Beach, B Block, 3rd Floor No. 13/2, off Intermediate Ring Ro, Bengaluru - 560 071 , India Telephone: +91 80 4682 3000 Fax: +91 80 4682 3999 Limited Review Report on unaudited standalone financial results of Titan Company Limited for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 pursuant to Regulation 33 and Regulation 52(4) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, as prescribed in Securities and Exchange Board of India operational circular SEBI/ HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended To the Board of Directors of Titan Company Limited 1. We have reviewed the accompanying Statement of unaudited standalone financial results of Titan Company Limited (hereinafter referred to as "the Company") for the quarter ended 30 September 2026 and year to date results for the period from 1 April 2026 to 30 September 2026 ("the Statement")(in which are included interim financia l information from an ESOP trust). 2. This Statement, which is the responsib ility of the Company 's management and approved by its Board of Directors , has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 "Interim Financial Reporting" ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 and Regulation 52(4) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations , 2015, as amended ("Listing Regulations"), as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/DDHS/P/CIR/2021/613 dated 10 August 2021, as amended . Our responsibility is to issue a report on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 "Review of Interim Financial Information Performed by the Independent Auditor of the Entity", issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly , we do not express an audit opinion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement , prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52(4) of the Listing Regulations, as prescribed in Securities and Exchange Board of India operational circular SEBI/HO/ DDHS/P/CIR/2021/613 dated 10 August 2021, as amended , including the manner in which it is to be disclosed , or that it contains any material misstatement. Mumbai 05 November 2026 BS R & Co. (a partnership firm with Registration No. BA61223) converted into BS R & Co. LLP (a Limited Liability Partnership with LLP Registration No. AAB-8181) with effect from October 14, 2013 For B S R & Co. LLP Chartered Accountants Firm's Registration No.: 101248W/W-100022 Registered Office: f~~h Partner Membership No.: 218495 UDIN:26218495VXNZHR7259 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Center, Western Express Highway, Goregaon (East), Mumbai - 400063 Page 1 of 1
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TITAN COMPANY LIMITED CIN: L74999TZ1984PLC001456 3, SIPCOT INDUSTRIAL COMPLEX, HOSUR 635126 . STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2026 f in crores except earnings per share Particulars 3 months ended 6 months ended Year ended 30--09-2026 30--06-2026 30--09-2025 30--09-2026 30--09-2025 31--03-2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) I. Revenue from operations • Sale of products / services 17,732 17,733 14,501 35,465 27,541 67,384 • Other operating reven ue (refer note 3) 98 368 2,033 466 3,557 10,170 II. Other income 115 141 109 256 216 535 III. Total income (I +II) 17,945 18,242 16,643 36,187 31,314 78,089 IV. Expenses: Cost of materials and components consumed 17,207 10,097 18,737 27,304 28,774 63,256 Purchase of stock-in-trade 2,942 2,791 2,081 5,733 3,905 8,334 Changes in inventories of finished goods, stock-in-trade and (6,830) 826 (7,589) (6,004) (7,995) (8,221) work-in-progress Employee benefits expense 483 544 485 1,027 952 2,041 Finance costs 451 267 222 718 438 955 Depreciation and amortisation expense 167 157 146 324 289 596 Advertising 375 345 334 720 597 1,220 Other expenses 1,027 934 866 1,961 1,613 3,621 IV. Total expenses 15,822 15,961 15,282 31,783 28,573 71,802 V. Profit before exceptional item and tax (III · IV) 2,123 2,281 1,361 4,404 2,741 6,287 VI. Exceptional item (refer note 5) . . . . 89 VII. Profit before tax (V • VI) 2,123 2,281 1,361 4,404 2,741 6,198 VIII. Tax expense: Current tax 555 584 355 1,139 705 1,572 Deferred tax (credit)* (4) (2) (0) (6) (0) (4) VIII. Total tax 551 582 355 1,133 705 1,568 IX. Profit for the period (VII-VIII) 1,572 1,699 1,006 3,271 2,036 4,630 X. Other comprehensive income (i) Items that will not be reclassified to the statement of profit and loss - Remeasurement of employee defined benefit plan (8) (6) (69) (14) (72) (74) - Income-tax on (i) above 2 2 17 4 18 19 X. Total other comprehensive (loss) (6) (4) (52) (10) (54) (55) XI. Total comprehensive income (IX+X) 1,566 1,695 954 3,261 1,982 4,575 XII. Paid up equity share capital (face value t 1 per share): 89 89 89 89 89 89 XIII. Other equity: 20,398 XIV. Earnings per equity share oft 1: {based on net profit for the period (IX)} Basic (not annualised) 17.71 19.15 11.34 36.86 22.95 52.20 Diluted (not annualised) 17.71 19.14 11.33 36.85 22.94 52.16 * Items not presented due to rounding off to the nearest t crore. See accompanying notes to the standalone unaudited financial results qr \
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TITAN COMPANY LIMITED CIN: L74999TZ1984PLC001456 .-,,-..r,..,-...., CO ..... Pl'\NV 3, Sil"COT INDUSTRIAL COMPLEX, HOSUR 635 126. STATEMENT OF STANDALONE UNAUDITED FINANCIAL STATEMENT OF ASSETS ANO LIABILITIES AS AT 30 SEPTEMBER 2026 BALANCE SHEET , in crores Particulars Asal Asat 30-09-2026 31-03-2026 (Unaudited) (Audited) ASSETS (1) Non-current assets (a) Property, plant and equipment 1,745 1,688 (b) Capital work-in-progress 62 63 (c) Right-of-use assets 1,695 1,592 (d) Investment property 1 1 (e) Intangible assets 63 68 (f) Intangible assets under development 26 26 (g) Financial assets (i) Investments 6,666 6,836 (ii) Loans 61 63 (iii) Other financial assets 839 810 (h) Deferred tax assets (net) 136 129 (i) Income tax assets (net) 91 91 U) Other non-current assets 132 101 11,517 11,468 (2) Current assets (a) Inventories 42,686 34,980 (b) Financial assets (i) Investments 1,451 2,196 (ii) Trade receivables 2,186 892 (iii) Cash and cash equivalents 392 156 (iv) Bank balances other than (iii) above 334 694 (v) Loans 516 640 (vi) Other financial assets 3,448 758 (c) Other current assets 2,129 1,833 53,142 42,149 TOTAL ASSETS 64,659 53,617 EQUITY AND LIABILITIES Equity (a) Equity share capital 89 89 (b) Other equity (refer note 4) 22,059 20,398 TOT AL EQUITY 22,148 20,487 Liabilities (1) Non-airrent liabilities (a) Financial liabilities (i) Lease liabilities 2,266 2,142 (b) Provisions 196 213 (c) Deferred tax liability (net) 2,462 2,355 (2) Current liabilities (a) Financial liabilities (i) Borrowings 19,876 6,239 (ii) Gold on loan 10,321 14,314 (iii) Lease liabilities 339 314 (iv) Trade payables - Total outstanding dues of micro and small enterprises 202 531 - Total outstanding dues of creditors other than micro and small enterprises 2,544 1,384 (v) Other financial liabilities 563 2,244 (b) Other current liabilities 5,829 5,466 (c) Provisions 87 269 (d) Current tax liabilities (net) 288 14 40,049 30,775 TOTAL EQUITY AND LIABILITIES 64,659 53,617
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TIT AN COMPANY LIMITED CIN : L749991Z1984PLC001456 3, SIPCm INDUSTRIAL COMPLEX, HOSUR 635 126. STATEMENT OF STANDALONE UNAUDITED CASH FLOWS FOR THE SIX MONIHS ENDED 30 SEPTEMBER 2026 fin crores Particulars 6 months ended 30-09-2026 30-09-2025 IDnaudited) (Un.audited) A. Cash flow from operating activities Net profit before tax 4,404 2,741 Adjustments far : -Depreciation and amortisation expense 324 289 -Net unrealised exchange loss / (gain) 7 (4) -Loss on sale/ disposal/ scrapping of property, plant and equipment (net) 2 2 -Provision for doubtful trade receivables (net), trade receivables written off and others• (1) 0 -Intere5t income (168) (128) -Gain on investments carried at fair value through profit and loss (46) (58) -Dividend Income"" (0) (0) -Gain on pre-closure of lease contracts (2) (4) -Rent waiver (2) (I) -Share Based Payments to employees 10 14 -Finance costs 718 438 Operating profit before working capital changes 5,246 3,289 Adjustments for : - increase in trade receivables (1,298) (445) - increase in inven tories (7,706) (8,356) - increase in financial assets- loans (5) (432) - (increase)/ decrease in other financial assets (2,274) 153 - increase in other assets (294) (186) - increase/ (decrease) in gold on loan (3,993) 7,801 - increase in trade payables 823 486 - increase/ (decrease) in other financial liabilities (1,708) 407 - increase in other current liabilities 363 993 - decrease in provisions (213) (34) Cash (used in)/ generated from operating activities before taxes (11,059) 3,676 -Direct taxes paid, net (861) (598) Net cash (used in)/ generated from operating activ ities (11,920) 3,D78 B. Cash flow hom investing activities Purchase of property, plant and equipment, intangible assets and investment property (242) (203) Proceeds from sale of property, plant and equipment 1 1 Loan recovered from subsidiaries 131 Investment in non convertible debentures, government securities and certificate of deposit (185) (581) Proceeds from redemption of non convertible debentures, government securities and certificate of 257 150 deposit Bank deposits placed (711) (415) Bank deposits matured 677 862 Purchase of mutual funds (8,917) (5,439) Sale of mutual funds 9,692 4,228 Sale of commercial papers 99 Lease payments received from sub-lease (excluding interest received) 66 60 Interest received 137 155 Net cash generated from / (used in} investing activities 1,005 (1,182) C. Cash flow from financing activities Repayment of long term borrowings (1,250) Proceeds from short-term borrowings, net 13,565 868 Dividends paid (1,331) (976) Payment of lease liabilities (excluding interest paid) (285) (252) Acquisition of treasury shares (281) Finance costs paid (517) (335) Net cash generated from/ (used in) financing activities 11,151 (1,945) Net inaease / (deaease) in cash and ash equivalents during the year (A+B+C) 236 (49) Cash and cash equivalents (opening balance) 156 243 Cash and cash equivalents (closing balance) 392 194 Debt reconciliation statement in accordance with Ind AS 7 Borrowings Opening balance 6,239 7,903 Proceeds from / (repayment of) borrowings, net 13,565 (430) Non-cash changes 72 58 Closing balance 19,876 7,531 Reconciliation of Lease liability Opening balance 2,456 2,225 Payments made dwing the year (285) (252) Non-cash changes 434 419 Closing biUance 2,605 2,393 • Items not presented due to rounding off to the nearest ~ crore. <t
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TIT AN COMP ANY LIMITED ,-- I ,--/'\. r-J CIN: L74999TZ1984PLC001456 corv1r/\NV 3, SIPCOT INDUSTRIAL COMPLEX, HOSUR 635 126. STATEMENT OF STANDALONE UNAUDITED FINANCIAL RES UL TS FOR THE QUARTER AND SIX MONTHS ENDED 30 SEPTEMBER 2026 SEGMENT INFORMATION (Refer note 2) fin crores Particulars 3 months ended 6 months ended Year ended 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 (Unaudited) (Unaudited ) (Unaudited) (Unaudited) (Unaudited) (Audited) Segment revenues and profit and loss a) Revenue (including other income) Watches 1,869 1,538 1,471 3,407 2,735 5,233 Jewellery (refer note 3) 15,547 16,177 14,744 31,724 27,744 71,108 Eyecare 279 287 218 566 454 907 Others 171 128 142 299 250 508 Corporate (unallocated) 79 112 68 191 131 333 Total 17,945 18,242 16,643 36,187 31,314 78,089 b) Profit / (loss) from segments before finance costs, exceptional item and tax Watches 413 296 239 709 525 842 Jewellery 2,178 2,247 1,381 4,425 2,704 6,601 Eyecare 25 26 12 51 33 84 Others (6) (39) (24) (45) (38) (114) Corporate (unallocated) (36) 18 (25) (18) (45) (171) Total 2,574 2,548 1,583 5,122 3,179 7,242 Finance costs 451 267 222 718 438 955 Exceptional i tern (refer note 5) . . 89 Profit before tax 2,U3 2,281 1,361 4,404 2,741 6,198 c) Segment assets and liabilities Segment assets Watches 5,526 5,169 4,659 5,526 4,659 4,651 Jewellery 46,643 39,802 33,955 46,643 33,955 35,906 Eyecare 733 713 691 733 691 699 Others 603 568 608 603 608 570 Corporate (unallocated) 11,154 12,087 11,788 11,154 11,788 11,791 Total 64,659 58,339 51,701 64,659 51,701 53,617 Segment liabilities Watches 1,589 1,492 1,539 1,589 1,539 1,519 Jewellery 19,667 23,598 23,601 19,667 23,601 24,253 Eyecare 433 441 399 433 399 434 Others 284 304 308 284 308 300 Corporate (unallocated) 20,538 10,310 8,022 20,538 8,022 6,624 Total 42,511 36,145 33,869 42,511 33,869 33,130
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TITAN COMPANY LIMITED CIN: L74999TZ1984PLC001456 3, SIPCOT INDUSTRIAL COMPLEX, HOSUR 635126. ADDITIONAL DISCLOSURES AS PER REGULATION 52(4) OF SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 Particulars 3 months ended 6 months ended Year ended 30-09-2026 30-06-2026 30-09-2025 30-09-2026 30-09-2025 31-03-2026 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Audited) J. Debt Equity Ratio 1.02 0.55 0.56 1.02 0.56 0.42 2. Debt Service Coverage Ratio (not annualised) 4.32 6.58 4.62 5.20 1.45 1.56 3. Interest Service Coverage Ratio (not annualised) 8.86 19.35 14.40 12.18 13.96 15.77 4. Current Ratio 1.33 1.39 1.30 1.33 1.30 1.37 5. Long term debt to working capital ratio 0.03 0.03 0.17 0.03 0.17 0.04 6. Bad debts to accounts receivable ratio NA NA NA NA NA NA 7. Current liability ratio 0.94 0.93 0.92 0.94 0.92 0.93 8. Total debt to total assets ratio 0.31 0.17 0.15 0.31 0.15 0.12 9. Debtors turnover ratio (not annualised ) 10.37 16.88 14.01 23.35 25.70 82.66 10. Operating margin( %) 13.8% 13.4% 9.1% 13.6% 9.7% 8.7% 11. Net profit margin( %) 8.8% 9.4% 6.1% 9.1% 6.5% 6.0% 12. Inventory turnover ratio (not annualised ) 0.33 0.38 0.46 0.70 0.86 2.13 13. Capital Redemption Reserve/Debenture Redemption NA NA NA NA NA NA Reserve 14. Net worth [t crores] (As per section 2(57) of Companies Act, 2013) 22,148 22,194 17,832 22,148 17,832 20,487 15. The Compan y has not issued any secured listed non- convertible debt securities. Note: Formulae for computation of ratios are as follows Particulars Formulae Numerator Denominator I. Debt Equity Ratio Debt consists borrowings and lease Total Equi ty liabilities Earnings for debt service= Profit after 2. Debt Service Coverage Ratio (not annualised) tax + Non-cash operating expenses + Debt service= Finance cost & Lease payments+ Principal repayments (net) Finance cost + other non cash adjustments 3. Interest Service Coverage Ratio (not annualised) Profit before exceptional item and tax+ lnterest on borrowings Interest on borrowings 4. Current Ratio Total current assets Total current liabilities Long term borrowings (Including Current assets( -) Current liabilities [excluding current maturities of long term 5. Long term debt to working capital ratio current maturities of long term borrowings] borrowings) 6. Bad debts to accounts receivable ratio Bad Debts Average gross trade receivables 7. Current liability ratio Total current liabilities Total liabilities 8. Total debt to total assets ratio Total borrowings Total assets 9. Debtors turnover ratio (not annualised) Revenue &om operations Average trade receivables Profit before depreciation, interest on 10. Operating margin( %) borrowings, exceptional i tern and tax Revenue &om operations (-) Other income 11. Net profit margin( %) Profit after tax Revenue from operations Cost of goods sold= Cost of materials and components consumed + Purchase 12. Inventory turnover ratio (not annualised) of stock-in-trade+ Changes in Average Inventory inventories of finished goods , stock-in- trade and work-in-progress
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TIT AN COMPANY LIMITED CIN: L74999TZ1984PLC001456 3, SIPCOT INDUSTRIAL COMPLEX, HOSUR 635 126. Notes: 1 The standalone unaudited financial results of Titan Company Limited ("the Company") have been prepared in accordance with Indian Accounting Standards (Ind AS) notified under the Companies (Indian Accounting Standards) Rules, 2015, as amended. The standalone unaudited financial results for the quarter and six months ended 30 September 2026 can be viewed on the website of the Company, National Stock Exchange of India Lirrtited (NSE) and BSE Ltd. 2 The Company is structured into four verticals namel y Watches, Jewellery, Eyecare and Others, where "Others" include Accessories, Fragrances and Indian Dress Wear. Accordingly, the Company has presented its segment results under these business segments. The geographical informati on is as follows : The revenue (including other income} for India and other than India are as follows Particular s 3 month s ended 6 month s ended Year ended 30--09-2026 30-06 -2026 30--09-2025 30--09-202 6 30--09-2025 31--03-2026 (Unaud ited) (Unaudi ted) (Unaudited ) (Unaudi ted) (Una udited ) (Audited ) India 17,277 17,824 16,283 35,101 30,615 76,408 Rest of the world 668 418 360 1,086 699 1,681 Tota.I 17,945 18,242 16,643 36,187 31,314 78,089 3 During the quarte r and six months ended 30 September 2026, the Company sold gold-ingots aggregating t Nil crores (previo us quarter ended 30 Septembe r 2025 t 1,959 crores} and t 302 crores (previous six months ended 30 Septembe r 2025 f 3,438 crores} which is disclosed as other ope rating revenues. During the quarter ended 30 June 2026, the Company sold gold-ingots aggregating f 302 crores, which is disclosed as other operating revenues. 4 The Board approved the Titan Company Limited Performance Based Stock Units Scheme 2023 ("Scheme 2023") and the Titan Company Limited Performance Based Stock Units Scheme 2026 ("Scheme 2026") for eligible empl oyees of the Company and its subsidiaries , at its meetings held in February 2023 and August 2026, respectively. Accordingly, grant letters under Scheme 2023 and Scheme 2026 have been issued to eligible employees from time to time. Certain tranches of PSUs granted under Scheme 2023 vested in May 2026 and August 2026, in accordance with the terms of the Scheme. During the quarter and six months ended 30th September 2026, an expense of t5 crore (quarter ended 30 September 2025: t6 crore) and tlO crore (six months ended 30 September 2025: f 14 crore), respectivel y, has been recognised under employee benefits expense to,,vards Performance Stock Units (PSUs) granted under the Scheme 2023 and Scheme 2026, as applicable . During the quarte r ended 30 June 2026, an expense of t5 crore had been recognised under employee benefits expense towards PS Us. The Company has formed the 'Titan Employee Stock Option Trust" to give effect to the PSU scheme and the books of the Trust has been consolidated with the standalone financial statements of the Company. As at 30 September 2026, the Trust had acquired a total of 13,12,197 equity shares from secondary market for the purpose of implementation of the PSU schemes, including 5,71,297 shares acquired during the current quarter. Out of the total shares acquired, 3,85,621 sha res have been exercised by employees under Scheme 2023 as on 30 Septembe r 2026 and equivale nt shares have been transferred to the eligible employees from the Trust 5 On 21 November 2025, the Government of India notified the four Labour Codes• the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing labour laws . The Ministry of Labour & Employment published draft Central Rules and FAQs to enable assessment of the financial impact due to chan ges in regulati ons. The Company had eval uated and disclosed the incremental impact of these changes using the best informati on currently available, consistent with the guidance provided by the Institute of Chartered Accountants of India. Considering the materialit y and regulat ory-dri ven, non-recurring nature of this impact, the Company had presented such incremental impact amounting to f 89 cores for the year ended 31 March 2026. The increase was primarily on account of past service cost for gratuity and leave liability due to change in wage definition for employees and contract labour. The Compan y continues to monito r the finalisation of Central/ State Rules and clarifications from the Government on other aspects of the Labour Code and would provide appropriat e accounting effect on the basis of such developments as needed. 6 During the quarter and six months ended 30 September 2026, the Company has not received any complaint from its Commercial Paper (CP) investors and there were no investor comp laint pending for redressal at the beginnin g and at the end of the quarter. All payment of CPs issued by the Company have been made on time and there is no pending dues thereof. The credit rating by leading agencies are as follows: Instrument CARE Coupon Rate Comme rcial paper (Unsecured) CARE Al+ 5.80%-7.20% Details of due dates of payme nt of CPs issued during the cur rent period are given below: !SIN Issue Date Due Date Amount int Cr INE280A14534 16-Apr-26 25-Jun-26 1,000 1NE280A 14542 24-Apr-26 0S-Jun-26 1,000 INE280A 14559 27-May-26 22-Jun-26 400 INE280A 14567 0S-Jun-26 04-Sep-26 1,000 INE280A 14575 12-Jun-26 10-Sep-26 1,000 INE280A 14583 10-Jul-26 08-0ct-26 825 INE280A14591 21-Jul-26 19-0ct-26 1,000 INE280A 14609 07-Aug-26 05-Nov-26 1,600 INE280A14617 14-Aug-26 12-Nov-26 1,000 INE280A14625 28-Aug-26 26-Nov-26 1,075 INE280A14633 04-Sep-26 03-Dec-26 1,000 INE280A14641 10-Sep -26 10-Dec-26 1,000 INE280A14641 11-Sep-26 10-Dec-26 1,000 INE280A 14658 11-Sep-26 09-Nov-26 350 INE280A 14658 15-Sep-26 09-Nov-26 500 8 The statuto ry auditors have carried out limited review of the standalone unaudited financial resulls for the quarter and six months ended 30 September 2026 and have issued an unmodified review report. 9 The standalone unaudited finan cial results of the Company for the quarter and six months ended ended 30 September 2026 have been reviewed by the Audit Committee and approved by the Board of Directors at their respec tive meetin gs on 5 November 2026. ~ ----x'jo y Chaw la Managing Director
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Titan Company Limited `INTEGRITY` #193 Veerasandra Electronics City P.O. Off Hosur Main Road, Bangalore 560100 India. Tel: 9180 6704 7000 Fax: 9180 6704 6262 Registered Office 3, Sipco Industrial Complex Hosur 635 126 TN India. Tel-91 4344 664 199 Fax 91 4344 276037, CIN: L74999TZ1984PLC001456 www.titancompany.in Annexure-B Details required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No HO/49/14/14(7)2025 -CFD- POD2/I/3762/2026 dated 30th January 2026 Sl. No. Particulars Details 1. Reason for change In accordance with the Tata Group Governance Guidelines, Mr. Noel N. Tata (DIN: 00024713) will retire from the office of Non- Executive, Non - Independent Director and Vice -Chairman of the Company with effect from 12th November 2026 2. Date of appointment/re- appointment/cessation Effective 12th November 2026 3. Brief Profile Not Applicable 4. Disclosure of relationships between directors Not Applicable
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Titan Company Limited `INTEGRITY` #193 Veerasandra Electronics City P.O. Off Hosur Main Road, Bangalore 560100 India. Tel: 9180 6704 7000 Fax: 9180 6704 6262 Registered Office 3, Sipco Industrial Complex Hosur 635 126 TN India. Tel-91 4344 664 199 Fax 91 4344 276037, CIN: L74999TZ1984PLC001456 www.titancompany.in Annexure- C Details required under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Master Circular No HO/49/14/14(7)2025 -CFD- POD2/I/3762/2026 dated 30th January 2026 Sr. No. Particulars Details / Disclosures 1. Reason for change viz. appointment, resignation, removal, death or otherwise M/s. B S R & Co. LLP, Chartered Accountants (ICAI Firm Registration No. 101248W/W - 100022), the current Statutory Auditor will continue to undertake the audit of the Company and its subsidiaries until the conclusion of the 43rd Annual General Meeting, to be held in 2027, marking the completion of their second consecutive term of 5 years. M/s Price Waterhouse Chartered Accountants LLP, Chartered Accountants, (ICAI Firm Registration No.: 012754N/N500016), have been appointed as the Statutory Auditors of the Company from the conclusion of the 43 rd Annual General Meeting until the conclusion of the 48 th Annual General Meeting, subject to approval of the Members. 2. Date of appointment / re- appointment & terms of appointment Based on the recommendation of the Audit Committee, the Board of Directors at its Meeting held today, approved and recommended the appointment of M/s Price Waterhouse Chartered Accountants LLP, Chartered Accountants, (ICAI Firm Registration No.: 012754N/N5 00016), as the Statutory Auditors of the Company for a term of five years i.e. from the conclusion of the 43 rd Annual General Meeting , to be held in 2027, until the conclusion of the 48 th Annual General Meeting, subject to the approval of the Members. 3. Brief profile (in case of appointment) Price Waterhouse Chartered Accountants LLP, (the “Firm”) having a Firm Registration No. 012754N/N500016, is a firm of Chartered
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Titan Company Limited `INTEGRITY` #193 Veerasandra Electronics City P.O. Off Hosur Main Road, Bangalore 560100 India. Tel: 9180 6704 7000 Fax: 9180 6704 6262 Registered Office 3, Sipco Industrial Complex Hosur 635 126 TN India. Tel-91 4344 664 199 Fax 91 4344 276037, CIN: L74999TZ1984PLC001456 www.titancompany.in Accountants registered with the Institute of Chartered Accountants of India. The Firm was established in the year 1991 and was converted into a limited liability partnership in the year 2014. The registered office of the Firm is in New Delhi and has sevent een (17) branch offices in various cities in India. The Firm is primarily engaged in providing auditing and other assurance services to its clients and is a member firm of Price Waterhouse & Affiliates, a network of firms registered with the Institute of Chartered Accountants of India having Network Registration No. NRN/E/14. Price Waterhouse & Affiliates is a network of separate, distinct and independent Indian Chartered Accountant firms, each of which is registered with the Institute of Chartered Accounta nts of India. The Firm has more than 120 Assurance Partners as of April 1, 2026. It has a valid peer review certificate and audits various companies listed on stock exchanges in India. 4. Disclosure of relationships between directors (in case of appointment of a director) Not Applicable