Growth With Responsibility: C.K. Venkataraman, Managing Director, Titan Company

Titan has come a long way since 1984 when it started with one product category. Today, with more than 7,000 employees, 16 brands and over 2,000 retail stores, Titan is committed as ever to delivering profitable and responsible growth for all its stakeholders.

Under C.K. Venkataraman, aka CKV, Titan Company has been growing from strength to strength giving its shareholders healthy returns. For the period under consideration for this special issue, Titan has shown healthy growth in its average revenue and average market capitalisation. While FY19-FY22 was an extraordinary period for everybody due to the pandemic and its adverse impact across sectors, Titan, like many in this list of Most Valuable CEOs, continued to remain a consistent performer negotiating the challenges.

Notable Numbers
FY22 was no different for Titan. In consolidated terms, Titan clocked a revenue of Rs 28,799 crore as against Rs 21,644 crore in the previous year. On a standalone basis, the company’s total revenue grew 32 per cent to Rs 27,210 crore compared to Rs 20,602 crore the previous year. Profit before tax and exceptional items grew 118 per cent to Rs 2,983 crore and the net profit grew 149 per cent to Rs 2,180 crore thereby further consolidating the stature and financial performance of Titan under CKV.

The Watches & Wearables division of Titan recorded a revenue of Rs 2,309 crore, growing 46 per cent despite the challenges. The revenue from the Jewellery Division grew 35 per cent touching Rs 23,268 crore (excluding sale of bullion worth Rs 1,045 crore). The EyeCare Division grew 38 per cent to post revenues of Rs 517 crore.

New businesses, which includes Indian dress wear aw well as fragrances & fashion accessories division, posted a revenue of Rs 154 crore, translating into a 57 per cent growth over the previous year. While the Indian dress wear division grew 43 per cent, the fragrances & fashion accessories division clocked 65 per cent growth, Titan said.

"All the divisions have done very well during the year amidst various challenges," said CKV in his address to the shareholders. That is why the board of Titan recommended payment of dividend at the rate of 750 per cent or Rs 7.50 per equity share of Rs 1 each) representing a dividend pay-out ratio of 30.8 per cent.

Growing Sustainably
Titan has been taking several steps to embed sustainability in its operations, with specific focus on energy and water to positively impact environment and the community. For example, renewables constitute 62 per cent of the total energy

consumed at its manufacturing plants. The company has been piloting CNG in retail while expanding roof-top solar application in its EyeCare plant. The company says that 88 per cent of the water used in its manufacturing facilities is recycled. Over a period of time the company has taken up many lakes and water bodies in the vicinity of its manufacturing locations at Hosur/ Pantnagar and rejuvenated them ensuring that water bodies such as ponds are restored to enable water conservation. The biggest initiative has been rainwater harvesting across all plant locations, it says.