Titan Company reported robust performance for Q4 2024.
Tata Group firm Titan Company Ltd on Friday (April 5) reported robust performance in the fourth quarter of fiscal year 2024, marked by significant revenue growth and expansion of its retail footprint.
In the fourth quarter of FY24, the company achieved a revenue growth of approximately 17% year-on-year (YoY). The addition of 86 stores (net) during the quarter further bolstered Titan’s retail network, which now stands at 3,035 stores.
The jewellery segment, a key revenue driver for Titan, witnessed growth of around 19% YoY in domestic operations. Both buyer footfall and same-store sales contributed to this healthy double-digit growth, with Tanishq leading the expansion efforts by adding new stores in Dubai and Chicago.
Additionally, the company expanded its domestic presence with 27 new store additions, including 11 Tanishq stores and 16 Mia stores. In the watches and wearables segment, Titan reported a domestic business growth of approximately 7% year-on-year, with analog watches and wearables contributing to the positive performance.
The Helios channel, which houses Titan and international brands, experienced robust double-digit growth in the analog portfolio. Titan further strengthened its presence in this segment by adding 44 new stores, including expansions in Titan World, Helios, and Fastrack outlets.
However, Titan’s eyecare division experienced a slight decline of approximately 1% year-on-year in revenue, despite the addition of a new store in Dubai under the Titan Eye+ brand.
In emerging businesses, Titan’s Taneira brand witnessed revenue growth of around 37% year-on-year, driven by the addition of 11 new stores across eight new cities. The fragrances and fashion accessories segment also reported positive growth, with fragrances growing by approximately 9% year-on-year and fashion accessories by around 18% year-on-year.
Caratlane, Titan’s business focusing on studded jewellery, reported strong growth of approximately 30% year-on-year. The addition of 10 new domestic stores expanded Caratlane’s network presence to 272 stores, further solidifying its position in the market.
Shares of Titan Company Ltd ended at Rs.3,754.85, down by Rs.28.20, or 0.75% on the BSE.
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