Titan approves ₹2,500 crore fundraising as profits climb 54%

Titan’s board approved a plan to raise as much as ₹2,500 crore through unsecured debentures. The jewellery and watchmaker reported quarterly profit of ₹1,722 crore, up 54% from a year earlier. The borrowing plan gives the company fresh funds to use, but the board has not yet set the final terms. ^1,9

That ₹2,500 crore plan came alongside a strong September-quarter result. Titan reported total income of ₹20,533 crore, 25% higher than a year earlier, and profit before tax of ₹2,329 crore, up 53%. Its jewellery business grew 24% to ₹17,495 crore, while watch sales rose 27% to ₹1,881 crore. Titan, part of the Tata Group, sells jewellery through brands including Tanishq and CaratLane, as well as watches and eyewear. ^1,9

The ₹1,722 crore profit needs a little context: Titan also reported a one-time gain from reassessing a financial liability. Excluding that gain, profit still rose 54%. Adjusted profit before tax, after the effect of gold customs duties, increased 18% to ₹1,793 crore. The results point to shoppers spending more on jewellery despite buying less gold by weight across India; studded jewellery sales at Titan grew in the early thirties. ^1,4

That shift toward studded pieces helped Titan deliver growth while the festive calendar moved some buying into the next quarter. Its board also approved Price Waterhouse Chartered Accountants LLP as auditors for five years, subject to shareholder approval. Vice Chairman Noel Tata is due to retire as director on November 12, 2026. A board committee will now settle the debenture terms and oversee their issue. ^1,9