Titan’s Q4 FY24 EBIT Hits ₹1,089 Crores, Reflecting 12.1% Margin

Titan, the parent company to brands like Tanishq, Zoya, Caratlane, has shown remarkable performance, resulting in an amazing growth through its jewellery segment in the fourth quarter of the fiscal year 2024. Talking about numbers, the company based in Bangalore saw its income soar by 19% in Q4 FY24 to reaching ₹8,998 crores.

The company’s surge in revenue was initially driven by a 20% expansion in its Indian operations, with the segment’s earnings before interest and tax (EBIT) totalling ₹1,089 crores, showcasing a robust margin of 12.1%.

Over the time of April 1^st 2023 to March 31^st 2024, there was an increase of 20% in the total income, making it Rs.38,353 crores, considering the whole jewellery division, including Zoya, Tanishq, Mia by Tanishq, Caratlane, Rivaah. The earning before interests and taxes (EBIT) for the entire year was equally remarkable and impressive at approximately 4,726 crores INR, maintaining a strong margin of 12.3%.

The main building blocks and stars of the whole growth process were the company’s strategies like the ‘Festival of Diamonds’, ‘When it Rings True’, ‘Ethereal Wonders’, ‘Sarang Hearts’ collection by Mia.  

If we talk about Caratlane, we can see its total income grow 29% to 748 crores INR as compared to the quarter fourth of the Fiscal year 2023. The EBIT came in at 52 crores INR for Q4FY23 making a margin of 6.9%. For the whole year, there was a growth in the total income of 34% to 2,930 crores INR.

As quoted by the Managing Director, Titan Co., C.K. Venkataraman: “FY24 was yet another satisfying year for Titan. Our Jewellery business continued to grow in prominence achieving a proud milestone of ₹40,000+ crores in consumer sales”.

In conclusion, Titan’s remarkable performance in the fiscal year 2024, particularly within its jewellery segment, underscores its unwavering commitment to innovation and consumer satisfaction. With a notable surge in revenue and impressive margins, Titan has not only solidified its position as a leader in the industry but has also demonstrated agility in adapting to evolving consumer preferences. As Titan continues to pioneer new avenues in jewellery retail, its enduring dedication to excellence sets a strong foundation for sustained growth and continued success in the future.