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India.com
11-05-2025
- Business
- India.com
Meet Ajoy Chawla to become MD in Ratan Tata's company? as CEO, he took Titan to new heights
Ajoy Chawla is currently handling the Titan's jewelry division and has been appointed as the new Managing Director (MD) now. He will assume the new role on January 1 after the retirement of the current MD, C.K. Venkataraman, on December 31. Venkataraman is retiring as per Tata Group's age policy. Ajoy Chawla became the CEO of Titan's jewelry division in 2019. Under his leadership, the jewelry segment performance grew by 2.5x in both sales and profits. It also became a market leader in the jewelry industry. Shareholder Approval Chawla's appointment as MD is subject to shareholder approval. The company may complete this process to on board him and formalize his new role. A search for a new CEO for the jewelry division will also start soon. Current MD Venkataraman expressed confidence in Chawla's leadership, stating, 'On behalf of the Titan team, I welcome Ajoy to this role. He has a deep understanding of customers, collaborates effectively with people, and focuses on creating value. I am confident that he will take Titan to new heights.' Who Is Ajoy Chawla? Ajoy Chawla' is part of the Tata Group since 1990 through the Tata Administrative Services (TAS). In 1991, he joined Titan's finance department and later worked there for nearly twenty years in the watches division, handling sales, marketing, supply chain, and SAP operations. He also worked in the accessories and licensed brands department. Later on he became the head of Titan SBU's domestic and international operations. Between 2013 and 2019, Chawla was Titan's Chief Strategy Officer. During this time, he launched new businesses and expanded the perfumes segment. Titan Q4 Results Tata group firm Titan Company on Thursday reported a 13 per cent increase in its consolidated profit after tax at Rs 871 crore in the March quarter, driven by robust sales. The company had posted a profit after tax (PAT) of Rs 771 crore for the January-March period of FY24. Total income increased to Rs 14,049 crore for the fourth quarter as compared with Rs 11,472 crore in the year-ago period, the company said in a regulatory filing. For FY25, Titan reported a PAT of Rs 3,337 crore, a decline of 5 per cent, against Rs 3,496 crore in FY24. Total income increased to Rs 57,818 crore last fiscal from Rs 47,501 crore in FY24. (With Inputs From PTI)
Time of India
08-05-2025
- Business
- Time of India
Jewellery unit head Ajoy Chawla named Titan MD
BENGALURU: will take charge as 's new managing director, effective Jan 1 next year. The current MD, CK Venkataraman's term, will conclude on Dec 31 this year, adhering to the Tata Group's retirement guidelines upon reaching superannuation age. Tired of too many ads? go ad free now Since becoming CEO of Titan's jewellery division in 2019, Chawla has led the division to significant achievements, with sales and profits expanding by 2.5 times, while consolidating its market leadership position. Chawla's appointment as MD awaits shareholder approval. The company will complete the formal procedures for his board induction and managing director appointment in due course. The selection of his successor for the jewellery division will be taken subsequently. Venkataraman stated, "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. " His professional journey began with Tata Administrative Services (TAS) in 1990, followed by joining Titan's finance department in 1991. His watches division experience spans commercial, sales, retailing, supply chain, and SAP implementation roles over two decades. He managed accessories and licensed brands before heading the Titan SBU's domestic and international operations. From 2013 to 2019, he served as chief strategy officer, overseeing business incubation, fragrances expansion and the Taneira business. Titan reported a 22% increase in revenue to Rs 57,818 crore for 2024-25, while net profit decreased by 2% to Rs 4,535 crore, primarily due to reduced gold custom duty effects during the period. Tired of too many ads? go ad free now The company's revenue showed a 22% growth in the March quarter compared to the previous year. Venkataraman said, "Our analog watch business continued its strong growth trajectory by product innovation led premiumisation whilst moving in sync with the rising aspirations of the Indian consumer. The eyecare business has returned to the double-digit growth trajectory in Q3 and Q4 of FY25 and is poised for even better growth in FY26. Within emerging businesses, fragrances have performed well for FY25 signifying growing acceptance of the Skinn brand. Our international business expansions are progressing well, and we are now present in 5 more cities in North America and GCC."
