NEW DELHI: Jewelry and Watch retailer Titan Co. Ltd announced a leadership change on Thursday and named Ajoy Chawla the next managing director. Chawla, currently head of the jewelry department at Titan, will take over as CK Venkataraman, who will retire after arriving at the Tata Group’s pension age on December 31, 2025. Chawla’s appointment will take effect from January 1, 2026.
Chawla’s advancement marks a strategic shift as he takes power after a huge growth in the jewelry sector, with sales and profits more than doubled under his leadership since October 2019. The decision also emerged as Titan reported strong financials for fiscal 25, with total revenue increasing by 22% to 22%, reaching 22%, reaching 22% to 22%. ₹57,819 million. In the March quarter, consolidated revenue rose 22% to Rs 140,499 crore. Profits increased by 13% during the period ₹8.71 million.
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Chawla, a Titan veteran, joined the company in 1991 and has a key role in the watch, accessories and jewelry segments. Prior to leading the jewelry department, he served as Chief Strategy Officer and pioneered the fragrance business (Skinn) and national clothing brand Taneira.
While the formal process for introducing Chawla to the board of directors and confirming that his MD appointment is pending shareholder approval, the company said the decision on its successor to the jewelry division will be announced later.
“I welcome Ajoy to lead Titan’s next phase of innovation and growth on behalf of the entire Titan team. With his strong customer obsession, people orientation, partnerships and focus on creating value, Ajoy is qualified to scale Shepherd Titan toward greater glory and scale.”
Titan was founded in 1987 as Titan Watches Ltd, a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO). Its portfolio includes jewelry (Tanishq), watches, glasses, racial clothing and accessories.
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“While the 25th fiscal year was marked by multiple external events that had different impacts on the average business, Titan’s business achieved another year of 22% growth, leading the company to cross impressive milestones ₹The income for a full year was Rs 5 billion. ” Venkataraman said.
“Our analog observation business continues its strong growth trajectory through product innovation LED premiums, while simultaneously synchronizing with the growing desires of Indian consumers. The eye care business has returned to its double-digit growth trajectory for the third and fourth quarters of FY25 and has seen better growth in FY25 growth.”
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The jewelry sector’s revenue grew 21% over the entire year ₹465.71 million. Venkataraman added that all business units are now working to expand market share in FY26.
