Titan Company Limited held an earnings conference call to discuss its unaudited Financial Results (Standalone and Consolidated) for the second quarter and half year ended 30th September 2026 (Q2 FY27).

The event was an earnings call / post-results investor interaction that took place on November 05, 2026. The call was moderated, and the primary management participants included:

  • Mr. Ajoy Chawla – Managing Director, Titan Company
  • Mr. Ashok Sonthalia – Chief Financial Officer
  • Mr. Arun Narayan – CEO, Jewellery Division
  • Mr. Kuruvilla Markose – CEO, Watches Division
  • Mr. Raghavan N S – CEO, Eyecare Division
  • Mr. Saumen Bhaumik – Managing Director, CaratLane

The stated purpose of the call was to discuss the company's Q2 FY27 financial performance and provide a business update. The call was held after the earnings announcement.

The company disclosed that the transcript of the audio call recording is made available as an attachment to the regulatory filing and is also hosted on the company's website at www.titancompany.in.

Key Financial Highlights & Clarifications from the Call:

  • Customs Duty Gains: The company reported a customs duty gain of ₹490 crores for Q2 in the Titan Jewellery division and ₹46 crores in CaratLane. Normalizing for this, the Titan Jewellery business margin would be 11.1%.
  • MTM Impact: A large part of the Mark-to-Market (MTM) gain from Q1 reversed in Q2, impacting jewellery margin by about 60 basis points. Normalizing for this, the Titan Jewellery business (TMZ) margin would be 11.7%.
  • Damas Liability Adjustment: A liability of ₹671 crores was recognized due to the fair valuation of the second tranche liability for the Damas acquisition, as per Ind AS 109. The reassessed liability was less by ₹671 crores from the previously accounted ₹1,668 crores. This assessment will be revisited every quarter.
  • Jewellery Margin Guidance: The company reaffirmed its stance to anchor its jewellery margin target at around 11% for FY27, prioritizing growth.
  • Festive Season Update (Q3 FY27): Management provided a qualitative update on the ongoing festive season, noting a strong start during Navratri (Oct 11-22), some softness due to gold rate volatility, and a recovery from the last weekend of October. Studded jewellery growth sustained, while interest in coins and investment buying remained soft.
  • Non-Jewellery Business Performance: The Watches, Eyewear, and newer businesses (Fragrances, Fashion Accessories, Taneira) were highlighted as having done extremely well, contributing meaningfully to consolidated performance.
  • Capital Raising: The board has approved raising ₹2,500 crores capital, which is a replenishment of existing borrowing and not additional borrowing.

Additional Notes Section

The regulatory filing included the earnings call transcript as an attachment. The announcement itself did not disclose full financial data (P&L, Balance Sheet), but the attached transcript contained management discussions on financial performance, margins, and business trends.

The filing was made pursuant to Regulation 46(2)(oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.