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Miss on jewelry revenue; other segments deliver healthy double-digit growth

* Titan consumer businesses delivered ~25% YoY growth.

* The company added 78 net new stores during the quarter, expanding its combined retail network to 3,758 stores.

Jewelry

* Jewelry portfolio grew ~21% YoY.

* Domestic jewelry (Tanishq, Mia, Zoya, beYon) delivered 20% growth (est. 28%, 38% in 1QFY27).

* CaratLane delivered 32% revenue growth (est. 28%, 40% in 1QFY27).

* Consumer demand remained healthy for most of the quarter, with some moderation toward the end due to the shift in the festive calendar to 3QFY27.

* Studded jewelry grew strongly in the early 30s YoY, supported by the ‘Festival of Diamonds’ campaign and brand-level promotions.

* Plain gold jewelry grew ~20% YoY.

* Coin demand declined in high-single digits YoY, mainly due to a high base and tapering of investment-led demand.

* Buyer growth stood in mid-single digits, while average ticket size grew in double digits.

* The company added 29 stores of Tanishq, Mia, Zoya and beYon, taking the total store count to 1,269.

* It added 13 CaratLane stores during the quarter, taking the total count to 394.

Watches & Wearables

* Watches recorded ~30% YoY (est. 10%, 21% in 1QFY27).

* Analog watches grew in the early 30s, aided by continued premiumization trends.

* Smart Watches recovered, delivering high-single-digit growth YoY.

* The company added 34 new stores, taking the total count to 1,379.

Eyecare

* Eyecare delivered ~28% YoY growth (est. 15%, 21% in 1QFY27), driven by focused execution across key strategic priorities.

* Multi-brand approach, continuous store network upgrades and a sharper merchandise portfolio are enhancing customer experience.

* The company added no stores during the quarter.

Emerging businesses: Fragrances & Fashion Accessories | Indian Dress Wear

* Emerging businesses grew by 21% YoY.

* Fragrances grew in the mid-30s YoY. Women’s Bags grew in the 20s YoY. Taneira delivered high-single-digit YoY growth.

* The company added 1 store, taking the total store count to 99.

International business

* North America Jewelry: Tanishq, Mia and CaratLane continued to deliver strong double-digit growth on a combined basis.

* GCC: Business remained resilient despite a volatile geopolitical environment, with Tanishq growth improving and Damas showing early signs of recovery.

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