Noel Tata is set to conclude his association with Titan Company as vice chairman and director on November 12. The development was confirmed through a regulatory filing submitted by the company to the stock exchanges, marking the end of his tenure on Titan’s board after more than two decades.
Tata joined the company’s board in August 2003 and has played an important role in providing strategic guidance during its expansion across India’s consumer and retail markets. In its filing, Titan acknowledged his contribution to the organisation’s development and growth over the years.
“Mr Tata has been associated with the company since August 2003 and during his tenure, he has provided valuable guidance and strategic direction to the company. His extensive experience and deep understanding of the consumer and retail businesses have greatly enriched the Board’s deliberations and contributed to the company’s evolution and growth over the years,” the filing announcing its results for the July-September quarter said.
Titan Reports Strong Profit Growth in Q2FY27
Titan Company recorded a consolidated net profit of Rs 2,393 crore in the July-September quarter, representing a year-on-year increase of 113.7 per cent.
However, the sharp rise in reported earnings was partly influenced by a one-time accounting-related gain. The company’s quarterly results included Rs 671 crore from a fair value adjustment involving its non-controlling interest (NCI) put option liability.
Revenue from operations also moved upwards, increasing 10.1 per cent compared with the corresponding quarter of the previous financial year to reach Rs 20,614 crore.
The company’s profit before interest, depreciation and tax (PBIDT) registered an even stronger improvement. It climbed 91.1 per cent year-on-year to Rs 3,799 crore for the quarter ending September 30.
The results indicate that Titan continued to benefit from demand across its consumer-facing businesses, particularly jewellery, watches and eyewear.
Jewellery remained a major contributor to Titan’s quarterly performance. The company’s jewellery portfolio, which includes brands such as Tanishq, Mia and Zoya, reported revenue growth of 24 per cent, reaching Rs 17,495 crore. The figure excludes bullion and digital gold sales.
Seasonal promotions and targeted brand campaigns played an important role in supporting sales during the quarter. Titan’s ‘Festival of Diamonds’ campaign, alongside other promotional activities, helped boost demand for studded jewellery, with growth in this category reaching the early thirties.
Titan’s watches division recorded one of its strongest quarterly performances, with revenue increasing 27 per cent to ₹1,881 crore.
The company attributed the segment’s performance to the growing preference for premium products and analogue watches. Consumers’ increasing interest in differentiated designs and higher-end timepieces also supported the business during the quarter.
Its eyecare division delivered another encouraging performance. Revenue from this segment rose 28 per cent to ₹281 crore, supported by a multi-brand retail strategy, improvements to its store network and efforts to enhance the overall customer experience.
These results highlight the company’s ability to maintain growth across multiple categories rather than depending exclusively on its jewellery operations.
Titan’s newer business ventures also recorded positive revenue growth during the reporting period.
Combined income from its emerging businesses increased 21 per cent year-on-year to Rs 171 crore in Q2FY27. However, the segment reported a loss of Rs 6 crore for the quarter.
Ajoy Chawla On Broad-Based Business Performance
Commenting on the quarterly performance, Titan managing director Ajoy Chawla said that the company had maintained healthy growth across its portfolio despite seasonal and market-related challenges.
“Q2FY27 was a quarter of healthy, broad-based growth for Titan, with our businesses registering 25 per cent consolidated operating growth Y-o-Y. A strong base quarter and a notable shift in the festive calendar into Q3FY27 notwithstanding, consumer demand held up well for most of the period,” Ajoy Chawla, managing director at Titan Company, said.
Chawla noted that the jewellery division benefited from design-focused collections and attractive offers that appealed to customers across different markets and age groups.
He also talked about the watches division’s performance, pointing to the growing importance of premiumisation and distinctive product designs. Meanwhile, the eyecare business continued to make progress through stronger execution and improvements in customer experience.
“Our emerging businesses are scaling well, while TEAL (Titan Engineering and Automation) continues to grow from strength to strength and raise the bar of excellence in high-precision engineering. Across the portfolio, we keep innovating and investing for growth — strengthening brand equity, deepening customer engagement and creating enduring value for all our stakeholders,” he added.
