Total income (excluding bullion sale) for the quarter was at Rs 10,280 crore, registering a growth of 17.4% as compared to Rs 8,753 crore posted in Q4 FY23.

Profit before tax fell marginally to Rs 977 crore in Q4 FY24 from Rs 979 crore recorded in Q4 FY23.

EBITDA jumped 9.8% to Rs 1,260 crore in Q4 FY24 as against Rs 1,148 crore posted in Q4 FY23. EBITDA margin slipped to 12.3% in the quarter ended 31 March 2024 from 13.1% posted in the same quarter last year.

EBIT was at Rs 1,139 crore in Q4 FY24, up 8.2% YoY. EBIT margin reduced to 11.1% in the fourth quarter as compared to 12% registered in Q4 FY23.

During the quarter, the company's income from jewellery business grew 19% YoY to Rs 8,998 crore in Q4 FY23. The India business grew 20% in the same period. EBIT was at Rs 1,089 crore recorded a margin of 12.1% for the quarter.

Tanishq expanded its international presence adding a new store in Dubai and Chicago, USA taking the Titan's Jewellery international footprint to 16 stores. During the quarter, Tanishq opened 11 new stores in India; Mia added 16 new stores.

Watches & wearables business recorded a total income of Rs 940 crore, up 8% compared to Q4 FY23. The domestic business grew 9% in the same period. EBIT came in at Rs 80 crore clocking a margin of 8.5% for the quarter.

Analog watches revenues grew around 9% YoY to Rs 787 crore driven by premiumization and higher average price realizations. Wearables revenues grew around 3% YoY whilst doubling in volumes compared to the same period last year. The premiumization journey continued to see good traction in Titan and Helios. The international brands analog sales saw growths of around 22% YoY in revenue assisted by approximately 13% YoY growth in volumes. During the quarter, 10 new stores were added in Titan World, 14 stores in Helios and 20 stores in Fastrack.

EyeCare business recorded total income of Rs 166 crore in Q4 FY24 was flat compared to Q4 FY23. Business recorded an EBIT of 8 crore clocking a margin of 4.8% for the quarter.

During the quarter, Titan Eye+ opened 1 new store in Dubai and converted 5 Fastrack eyewear stores to Titan Eye+ in the domestic market.

The Emerging Businesses comprising of Indian dress wear (Taneira), Fragrances, Fashion Accessories (F&FA) recorded a total income of Rs 97 crore for Q4 FY24 growing 26% compared to Q4FY23. The Businesses together recorded a loss of Rs 22 crore for Q4 FY24.

Taneira's sales grew 36% compared to Q4 FY23; Taneira launched 8 Weavershalas in Q4 taking the total tally to 18 Weavershalas across the country. The brand opened 11 new stores during the quarter, taking the total store count to 73 stores covering 37 cities.

The F&FA business grew 13% compared to Q4FY23. In key sub-segments, Fragrances grew by 9% and Women's Bags clocked 97% growth respectively (on a small base over Q4FY23).

Among subsidiaries, Caratlane Trading total income grew 29% to Rs 748 crore as compared to Q4 FY23. EBIT came in at Rs 52 crore for Q4 FY23 clocking a margin of 6.9%. Caratlane added 10 new stores in the quarter taking the total store count to 272 stores spread across 110 cities pan-India.

Titan engineering & automation (TEAL) recorded a total income of Rs 373 crore in Q4 FY24, a growth of 114% compared to Q4 FY23. EBIT for the quarter was at Rs 64 crore at a margin of 17.2%.

The Automation Solutions (AS) business grew 181% and the manufacturing services grew 33% compared to their respective Revenues of Q4 FY23. The AS business ended the quarter with a closing order book of more than Rs 500 crore.

For FY24, the company’s standalone net profit rose 6.3% to Rs 3,333 crore on 23.10% jump in revenue to Rs 47,114 crore in FY24 over FY23.

C K Venkataraman, managing director of Titan Company, said, FY24 was yet another satisfying year for Titan. Our jewellery business continued to grow in prominence achieving a proud milestone of Rs 40,000 plus crore in consumer sales. Together our brands of Tanishq, Mia, Zaya and Caratlane are meaningfully innovating and offering the best variety of choices for the discerning woman of tomorrow.

Our Wearables business is making good strides contributing to the ambitious growth targets that the business has embarked upon. The EyeCare business has re-calibrated itself in this year of consolidation and has launched exciting new product launches for the fashion-conscious youth. Taniera's expansions are gathering pace, and their stores are accessible across the length and breadth of the country. Through their 'Weavershalas' initiative, the brand is assiduously striving to protect traditional heirloom methodologies whilst embracing modernity practices.

As we look forward to FY25, all businesses of Titan Company are single-mindedly continuing to focus on satisfying the ever-evolving needs of our lifestyle consumers."

Meanwhile, the company's board has declared a dividend of Rs 11 per share. The company will be paid on or after seventh day of 40th AGM, subject to approval of the shareholders of the company.

Titan Company, a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO), commenced its operations in 1987 under the name Titan Watches. In 1994, Titan diversified into Jewellery (Tanishq) and subsequently into EyeCare.