Titan names Ajoy Chawla as next MD
Chawla's ascension marks a strategic shift as he takes the reins after a period of significant growth in the jewellery segment, where sales and profits have more than doubled under his leadership since October 2019. The decision also comes as Titan reported strong financials for FY25, with total income up 22% to ₹ 57,819 crore. In the March quarter, consolidated income grew 22% to Rs14,049 crore. Profit for the period grew 13% to ₹ 871 crore.
A Titan veteran, Chawla joined the company in 1991 and has held key roles across the watches, accessories, and jewellery segments. Before leading the jewellery division, he served as chief strategy officer and spearheaded the launch of the fragrances business (SKINN) and the ethnic wear brand, Taneira.
While the formal process for inducting Chawla onto the board and confirming his MD appointment is pending shareholder approval, the company said the decision regarding his successor in the jewellery division will be announced later.
"On behalf of the entire Titan team, I welcome Ajoy to lead Titan in its next phase of innovation and growth. With his strong customer obsession, people orientation, partnering impulse and focus on creating value, Ajoy is well qualified to shepherd Titan towards even greater glory and scale," said Venkataraman.
Founded in 1987 as Titan Watches Ltd, Titan is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corp. (TIDCO). Its portfolio includes jewellery (Tanishq), watches, eyewear, ethnic wear, and accessories.
'While FY25 was marked by multiple external events that had varying impacts on the businesses in general, Titan's businesses clocked yet another year of strong 22% revenue growth resulting in the company crossing the impressive milestone of ₹ 50,000 crore of revenues for the full year," Venkataraman said.
"Our analogue watch business continued its strong growth trajectory by product innovation led premiumization whilst moving in sync with the rising aspirations of the Indian consumer. The eye care business has returned to the double-digit growth trajectory in Q3 and Q4 of FY25 and is poised for even better growth in FY26," he said.
For the full year, the jewellery division's income rose 21% to ₹ 46,571 crore. Venkataraman added that all business segments are now focused on expanding market share in FY26.
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