70-Word Short Content
Noel Tata will step down as Vice Chairman and Non-Executive Director of Titan Company Limited with effect from November 12, 2026. The decision is in accordance with the Tata Group's governance guidelines and coincides with his 70th birthday. Noel Tata has been associated with Titan since August 2003. The announcement comes as the company reports strong year-on-year growth across its jewellery, watches and eyecare businesses in the second quarter of FY27.
90-Word Shorts Content
Noel Tata is set to retire as Vice Chairman and Non-Executive Director of Titan Company Limited on November 12, 2026. The company confirmed the decision in a regulatory filing, stating that it follows the Tata Group's governance guidelines. Noel Tata has served on Titan's board since August 2003 and has contributed to the company's strategic direction and growth. The announcement coincides with Titan reporting strong performance in the second quarter of FY27, with its jewellery, watches and eyecare divisions recording year-on-year growth.
Long Content
Noel Tata will step down from his positions as Vice Chairman and Non-Executive Director of Titan Company Limited with effect from November 12, 2026. The company has announced his retirement in a regulatory filing, stating that the decision is in accordance with the Tata Group's governance guidelines.
Noel Tata, Chairman of Tata Trusts, has been associated with Titan since August 2003. His retirement from the company's board will mark the end of more than 23 years of association with the jewellery and watchmaking business. Titan acknowledged his contribution to the company's development, strategic direction and growth over the years.
In its regulatory filing, Titan stated that Noel Tata's experience and understanding of consumer and retail businesses had added value to the board's discussions and decision-making. The company also recognised the guidance he provided during his tenure as a director and vice chairman.
The retirement is scheduled for November 12, 2026, which is also Noel Tata's 70th birthday. The move is part of the Tata Group's governance guidelines for board-level positions. He has also stepped down from the boards of several other Tata Group companies, including Trent, Voltas, Tata Steel, Tata Investment Corporation and Tata International.
Noel Tata's retirement from Titan's board does not mean that he is stepping down from all his responsibilities within the Tata Group. He continues to serve as Chairman of Tata Trusts, which is a major shareholder of Tata Sons.
Titan Reports Strong Q2 FY27 Performance
The announcement regarding Noel Tata's retirement comes at a time when Titan has reported strong business growth for the second quarter of the financial year 2026-27. The company recorded year-on-year growth across its major business divisions, including jewellery, watches and eyecare.
Titan's jewellery business continued to be a major contributor to its performance. The division recorded revenue of Rs 17,495 crore during the quarter, registering 24 per cent growth compared with the corresponding period of the previous financial year. The figure excludes bullion and digital gold sales.
Demand for studded jewellery and the company's promotional campaigns contributed to the performance. Titan's Festival of Diamonds campaign and brand-level offers supported customer interest in its jewellery collections. The company operates several well-known jewellery brands, including Tanishq, Mia and Zoya.
The watches division also reported a strong performance. Revenue from the segment increased by 27 per cent year-on-year to Rs 1,881 crore. The company attributed the growth to consumer preference for premium watches, design differentiation and continued demand for analogue timepieces.
Titan's eyecare business recorded 28 per cent growth, with revenue reaching Rs 281 crore during the quarter. The performance was supported by its multi-brand approach, improvements to its retail network and efforts to enhance the customer experience.
The company's emerging businesses also recorded growth during the reporting period. Their combined income increased by 21 per cent to Rs 171 crore, although the segment reported a loss of Rs 6 crore.
Financial Performance and Business Outlook
Titan's consolidated net profit for the September quarter increased significantly compared with the same period last year. The company reported a consolidated net profit of Rs 2,393 crore, representing a rise of approximately 114 per cent year-on-year. However, the reported profit included a one-time accounting gain of Rs 671 crore arising from a fair value adjustment to a non-controlling interest put option liability.
Excluding this gain, the company's profit after tax stood at Rs 1,722 crore, reflecting an increase of 54 per cent compared with the corresponding quarter of the previous year. Revenue from operations increased by 10.1 per cent to Rs 20,614 crore.
Titan's management described the quarter as one of broad-based growth across its businesses. The company also highlighted the continued demand for jewellery, premium watches and eyecare products despite changes in the timing of the festive season.
The developments highlight two important aspects of Titan's recent performance: a planned leadership transition at the board level and continued growth across its key consumer businesses.
Noel Tata's retirement from the board will take effect on November 12. Meanwhile, Titan's performance in the coming quarters will be closely watched by investors and industry observers as the company continues to focus on brand development, retail expansion and customer engagement.
