Noel Tata to Retire as Titan Vice-Chairman on November 12, Q2 Profit Rises 114%
-
Khushi Jain
- November 6, 2026
Titan Company has announced that Noel Tata will retire as vice-chairman and director on November 12, 2026, in accordance with Tata group governance guidelines. He has been associated with the jewellery and watches company since August 2003.
The announcement came as Titan reported a 114% year-on-year increase in consolidated net profit to Rs 2,393 crore for the September quarter of FY27, compared with Rs 1,120 crore in the same period last year.
As reported by Business Standard, Noel Tata’s retirement follows the group’s governance guidelines, bringing his more than two-decade association with Titan’s board to an end.
Titan’s total income increased 13.8% to Rs 21,430 crore from Rs 18,837 crore in the corresponding quarter last year.
Excluding bullion and digital gold sales and an accounting credit, the company reported income growth of 25% to Rs 20,533 crore.
Titan Q2 Profit Includes Rs 671 Crore Gain From Damas Acquisition
Titan’s reported net profit included a Rs 671 crore accounting gain related to its acquisition of jewellery retailer Damas.
The company reduced its estimated liability for acquiring the remaining 33% stake in Damas after geopolitical disruptions in the Middle East affected the jewellery business.
Excluding the accounting credit, Titan’s net profit increased 54% to Rs 1,722 crore.
The company’s profit also benefited from Rs 536 crore in gains arising from an increase in customs duty on gold.
After excluding both gains, Titan’s profit before tax grew 18% to Rs 1,793 crore.
The figures show that Titan’s reported profit growth included accounting-related gains alongside its operating performance.
The company’s financial performance and the impact of these adjustments were also covered in Mint’s report on Titan’s quarterly results.
Titan Jewellery Business Grows 24% to Rs 17,495 Crore
Titan’s jewellery business reported a 24% increase in income to Rs 17,495 crore, excluding bullion and digital gold sales.
In India, the company’s jewellery brands Tanishq, Mia and Zoya recorded combined income growth of 20% to Rs 14,935 crore.
CaratLane’s income increased 31% to Rs 1,408 crore during the quarter.
Titan attributed the growth to higher average bills and increased demand for studded jewellery, including products set with diamonds and other stones.
The company added 42 jewellery stores in India during the quarter, net of closures.
It also expanded its international retail presence by opening a Tanishq outlet in Los Angeles.
Watches and Eyecare Businesses Report Higher Income
Titan’s watches business recorded a 27% increase in income to Rs 1,881 crore during the September quarter.
Its eyecare business reported 28% income growth to Rs 281 crore.
Managing Director Ajoy Chawla said consumer demand remained steady for most of the quarter, despite the festive calendar shifting to the December quarter.
The company’s results reflected growth across its jewellery, watches and eyecare businesses.
Titan Board Approves Rs 2,500 Crore Fundraising Through NCDs
Titan’s board also approved a proposal to raise up to Rs 2,500 crore through privately placed, unsecured non-convertible debentures (NCDs).
Non-convertible debentures are debt instruments through which companies raise funds without issuing equity shares.
The company’s regulatory disclosures can be accessed through Titan Company’s official corporate announcements.
The quarterly results come ahead of Noel Tata’s retirement from Titan’s board, marking a change in the company’s leadership structure after his association of more than two decades.
Disclaimer: We are a media platform sharing stock market and IPO news for informational purposes only. We do not provide investment advice.
5 FAQs
1. When will Noel Tata retire from Titan?
Noel Tata will retire as vice-chairman and director of Titan on November 12, 2026.
2. What was Titan’s net profit in Q2 FY27?
Titan reported a consolidated net profit of Rs 2,393 crore, an increase of 114% from Rs 1,120 crore a year earlier.
3. Why did Titan’s profit increase?
The reported profit included a Rs 671 crore accounting gain linked to Damas. Excluding this gain, net profit increased 54% to Rs 1,722 crore.
4. How did Titan’s jewellery business perform?
Jewellery income, excluding bullion and digital gold sales, grew 24% to Rs 17,495 crore.
5. How much fundraising did Titan’s board approve?
The board approved raising up to Rs 2,500 crore through privately placed, unsecured non-convertible debentures.
