According to documentation filed with the stock exchange, Noel Tata will leave his position as Vice President and Director of Titan Company on November 12. He will be departing after more than 23 years with the company.
In a statement accompanying the July-September quarterly results report, it was noted that Mr. Tata had been associated with the company since August 2003. During his tenure, he provided valuable guidance and strategic direction, and his deep understanding of consumer and retail business enriched the Board of Directors' discussions and contributed to the company's development and growth over many years.
Titan Company's consolidated net profit in the second quarter of the current fiscal year (Q2FY27) increased by 113.7 percent, reaching 2393 crore rupees. This growth was attributed to a one-time income of 671 crore rupees received from the change in fair value of the NCI option liability.
Operating revenue for this quarter grew by 10.1 percent compared to last year, amounting to 20614 crore rupees. The jewelry giant's Profit Before Interest, Depreciation, and Taxes (PBIDT) increased by 91.1 percent year-on-year, reaching 3799 crore rupees as of September 30.
The portfolio of Tanishq, Mia, and Zoya owner jewelry grew by 24 percent to 17495 crore rupees (excluding bullion and digital gold) thanks to the 'Diamond Festival' sales and brand-level promotion, which stimulated growth in gemstone pieces by early thirties percent and demonstrated sustained consumer demand.
In the watch segment, growth was driven by ongoing trends of premiumization and consumer preference for analog chronometers, allowing the company to achieve one of its strongest quarterly results, showing a 27 percent increase to 1881 crore rupees. The Eye Care division reported a significant growth of 28 percent, reaching 281 crore rupees, resulting from the implementation of a multi-brand approach strategy and an updated store network.
Total revenue from new business verticals for Q2FY27 increased by 21 percent to 171 crore rupees, although a loss of 6 crore rupees was recorded during this period.
Ajay Chawla, Managing Director of Titan Company, noted that Q2FY27 was a period of healthy, large-scale growth for Titan, as the company's business demonstrated consolidated operational growth of 25% year-on-year. He emphasized that despite a strong base in the previous quarter and a noticeable shift in the holiday calendar in Q3FY27, consumer demand remained high for most of the period.
He added that the jewelry business performed well due to design-focused collections and attractive offers for consumers, which resonated across various markets and age groups. The watch business demonstrated an excellent quarter, developing premiumization and design differentiation. The EyeCare business maintained its momentum through clear execution and continuously improving customer experience.
Chawla also stated that new business verticals are scaling successfully, and TEAL (Titan Engineering and Automation) continues to grow steadily and raise the bar in precision engineering. Across the entire portfolio, the company continues to innovate and invest in growth, strengthening the brand's shareholder value, deepening customer engagement, and creating long-term value for all stakeholders.
