Gold and precious metal jewellery stocks saw impressive gains in Wednesday morning trading on January 7, following the release of quarterly business updates for Q3 FY26. The strong numbers reflect a buoyant festive season that drove both consumer demand and revenue growth across leading jewellery firms.
Shares of Titan Company soared to a record high of ₹4,300 on the NSE, up 4.5%, while Senco Gold jumped 13.9% to ₹368.40. Kalyan Jewellers rose 1.52% to ₹507.75. Other notable gains included Thangamayil Jewellery (+6.27% at ₹3,705.60), Tribhovandas Bhimji Zaveri (+10% at ₹178.50), and PC Jeweller (+3% at ₹10.61).
Titan Company: A Festive Season Success Story
Revenue and Growth
Titan Company, part of the Tata Group, recorded a robust 41% year-on-year (YoY) growth in its jewellery portfolio for Q3 FY26, driven by rising average selling prices (ASP) amid steady buyer growth. To offset high gold prices, Titan’s Tanishq brand launched an effective gold exchange offer, extending consumer engagement beyond the traditional festive period.
Consumer Trends
Distinct buying patterns emerged across Titan’s product categories:
- Gold Coins: Nearly doubled sales compared to Q3 FY25, highlighting their appeal as an investment option.
- Plain Gold Jewellery: Saw growth in the late 30% range, driven by premium, design-focused offerings during weddings and festivals.
- Studded Jewellery: Achieved mid-20% double-digit growth, supported by sub-segment buyer expansion.
- Retail Formats: Like-for-like growth across all formats reached the low 30% range.
Introducing beYon: Lab-Grown Diamonds
Titan launched beYon, its lab-grown diamond jewellery brand, targeting fashion-conscious consumers seeking affordable, everyday diamond pieces. While Tanishq, Mia, Zoya, and CaratLane continue to cater to milestone-based purchases, beYon emphasizes self-expression and styling.
Store Expansion
Titan added 47 new stores across India during Q3: Tanishq (10), Mia (11), Zoya (1), beYon (1), and CaratLane (24).
Watches Division
The Watches division posted 13% YoY growth, led by analogue watches with a 17% rise. Premiumisation trends benefited Titan, Sonata, and Fastrack, delivering strong double-digit value and volume growth. The division added 22 new stores across Titan World, Fastrack, Helios, and Helios Luxe.
EyeCare Division
Titan EyeCare grew 16% YoY, driven by both international and in-house brands. Store adjustments included 11 new stores, 20 renovations, and 30 closures. Runway, Titan’s premium sunglasses destination, added 2 stores.
Emerging Businesses
- Fragrances: Grew 22% YoY, driven by Fastrack and Skinn.
- Women’s Bags: Surged 111% YoY, led by volume and ASP growth in Fastrack and Irth.
- Taneira Sarees: Declined 6% YoY due to lower volumes despite strong ASP growth.
- Store Expansion: Irth opened 2 stores in Delhi and Kolkata.
International Markets
Titan’s international jewellery business grew 81% YoY, with strong performances in GCC countries, Singapore, and North America. Tanishq opened new stores in Boston and Orlando.
Senco Gold: Riding the Festive Wave
Senco Gold reported a 51% YoY growth in Q3 FY26, continuing a strong upward trajectory from 28% in Q1 and 6.5% in Q2. The company’s trailing twelve-month revenue reached approximately ₹8,000 crore, reflecting loyal customers and a strong brand.
Key highlights:
- Retail and Same-Store Sales Growth: Q3 retail growth at 49%, SSSG at 39%.
- Diamond Jewellery: Maintained 36% YoY growth.
- Showroom Expansion: Four new franchise showrooms, totaling 196 showrooms.
- Gold Prices: Averaged a 65% YoY increase, peaking at ₹1,40,000 per 10gm.
Outlook for Q4 FY26
Senco aims to leverage upcoming wedding season, Valentine’s Day, and International Women’s Day with curated studded collections targeting 18–20% growth. The company plans to open 3–4 additional showrooms under COCO and FOCO models, aiming for over 25% YoY growth for FY26.
Kalyan Jewellers: Consistent Festive Growth
Kalyan Jewellers recorded approximately 42% revenue growth in India during Q3 FY26, driven by strong post-Diwali demand and robust festive sales across plain gold and studded jewellery. Same-store sales grew 27%, while international operations rose 36% YoY.
Candere Digital Platform
Candere, Kalyan Jewellers’ digital-first jewellery platform, achieved remarkable revenue growth of 147% YoY.
Store Additions
During the quarter, Kalyan opened 21 stores in India, 1 in the UK, and 14 Candere showrooms. The total network now includes 469 stores across India and international markets.
Related posts:
Govt Approves 3% DA Hike Ahead of Festivals
Anant Ambani and BP CEO inaugurated the 500th outlet of Jio-BP
Canara Bank Surges on Strong Q2 FY26 Performance
Why H&R Block is considered Best in Tax Preparation
HDFC Bank Delivers Stable Q3 Financial Performance
Aequs IPO Allotment Finalized: Listing and GMP Details
About the Author
