Can Titan Stock Deliver Another Strong Quarter as UBS Expects Jewellery Growth of Up to 40%?

Synopsis: UBS remains positive, expects strong jewellery-led growth in Q1 FY27 with 35–40 percent growth and steady support from watches, maintaining strong momentum and upside potential

The article outlines the rationale for UBS’s bullish stance on this company, which is among India’s most respected lifestyle companies. It has established leadership positions in the Watches, Jewellery and Eyewear categories, led by its trusted brands and differentiated customer experience.

With a market capitalization of Rs 3,90,311 crore, Titan Company Ltd’s share closed at Rs 4,396 per share, down by 0.20 percent from its previous close. The share of this company gave a return of 150 percent over the last five years.

Brokerage’s View

UBS has maintained its Buy rating on Titan with a target price of Rs 5,600, implying an upside of around27.3 percent from the current levels. The brokerage remains positive on the company, supported by strong jewellery demand and steady growth across its key business segments.

Jewellery Demand Remains Strong

UBS said its latest channel checks point to another strong quarter for Titan. The brokerage believes jewellery sales could grow by around 35 to 40 percent in Q1 FY27, showing that the strong momentum seen since Q3 FY26 is still continuing.

Studded Jewellery Sees Healthy Growth

The brokerage also noted that demand for studded jewellery has stayed strong. After growing 35 percent YoY in Q4 FY26, sales in this category appear to be maintaining a similar pace in Q1 FY27, based on its channel checks.

Growth Looks Better Than Expected

UBS said this performance is particularly encouraging because Q1 FY27 is not a promotional quarter for studded jewellery, unlike Q4 FY26. Even without special offers, demand has remained healthy, which points to another strong quarter for Titan’s jewellery business.

Watches Add Support to Overall Growth

Apart from jewellery, UBS believes the watches business is also performing well and is adding to the company’s overall growth. The brokerage said customer demand has remained steady despite higher duties, giving Titan another positive quarter across its key businesses.

Robust Performance supporting rationale

Titan’s jewellery business stayed strong in Q4 FY26, with revenue up 50 percent YoY to Rs 18,195 crore. The India business drove most of the growth, with Tanishq, Mia and Zoya together up 48 percent to Rs 16,047 crore. CaratLane also grew 22 percent. The international jewellery business jumped 174 percent to Rs 1,081 crore, but it still posted a loss of Rs 82 crore for the quarter.

The watches business had a steady quarter with good demand for analog watches and improved pricing. Revenue up 8 percent YoY to Rs 1222 crore, EBIT Rs 143 crore, margin 11.7 percent. The company added 30 net new stores across Titan World, Fastrack, Helios and Helios Luxe, which should aid growth ahead.

About the Company 

Titan Company Limited is a leading Indian lifestyle and accessories company headquartered in Bengaluru, Karnataka. It is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. The company operates across jewellery, watches and eyewear, with a strong retail presence and a focus on branded consumer products.

Financial highlights: Revenue from operations in Q4 FY26 stood at Rs 26,920 crore compared to Q4 FY25 Rs 14,916 crore, reflecting a sharp growth of around 80.5 percent YoY. Profit before tax in Q4 FY26 was Rs 1,577 crore versus Q4 FY25 Rs 1,218 crore, up by about 29.5 percent YoY. Profit after tax in Q4 FY26 stood at Rs 1,179 crore compared to Q4 FY25 Rs 871 crore, showing a growth of around 35.3 percent YoY.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.

The post Can Titan Stock Deliver Another Strong Quarter as UBS Expects Jewellery Growth of Up to 40%? appeared first on Trade Brains.