Titan shares up 1% today after Q2 profit rises 43%; brokerages bullish on festive momentum -- check target price

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26 Aug, 2025 12:21

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Titan Company Ltd shares gained 1.1 percent in the morning trade on Tuesday, after the company posted a strong second-quarter performance, marked by double-digit revenue growth and robust festive demand momentum across key businesses. Titan stock was trading at Rs 3,765 on NSE, up from the previous close of Rs 3,724.5, as it reacted to the earnings momentum and the positive brokerage commentary that followed.

The company reported a 42.7 percent year-on-year rise in net profit to Rs 1,006 crore for Q2 FY26, slightly below the CNBC-TV18 estimate of Rs 1,051 crore. Revenue increased 25.1 percent to Rs 16,534 crore, topping the analyst projection of Rs 15,060 crore. EBITDA grew 43 percent to Rs 1,620 crore. Operating margins improved to 9.8 percent from 8.6 percent a year ago.

The jewellery division remained the key driver, with sales rising 21 percent to Rs 14,092 crore (excluding bullion and DigiGold), supported by festive demand in September. The watches and wearables segment grew 13 percent to Rs 1,477 crore. Managing Director C.K. Venkataraman said growth gathered pace through the quarter and surged during Navratri. Titan also announced a move to acquire a controlling stake in GCC-based Damas Jewellery.

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Titan Company stock call: Should you buy or sell shares?

Morgan Stanley maintained an Overweight call with a target price of Rs 3,953 per share, highlighting that Q2 revenue, EBITDA and net profit were ahead of expectations. It noted consolidated EBITDA margin of 11.5 percent, exceeding consensus, and standalone jewellery EBIT margin at 10.8 percent. The brokerage said demand accelerated through the quarter, with domestic jewellery witnessing strong Navratri traction. It cited Tanishq’s gold exchange programme as a key growth driver despite elevated gold prices and said CaratLane recorded over 32 percent top-line growth.

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