Brands
Titan’s Q4-2014 q-o-q Ad expenses down 26 per cent
BENGALURU: Titan Company (Titan), formerly known as Titan Industries, reported a (-25.98) per cent drop in advertisement expenses (Advt Exp) in Q4-2014 at Rs 87.37 crore (3.12 per cent of Income from Operations or Op Inc) as compared to the Rs 118.04 crore (4.18 per cent on Op Inc) in the immediate trailing quarter Q3-2014, but 31.13 per cent more than the Rs 66.663 crore (2.55 per cent of Op Inc) spent in the year ago quarter of Q4-2013.
Note: Rs 100 lakh = Rs100,00,000 = Rs 1 crore = Rs 10 million
Titan has three revenue segments – watches with five major brands – Titan, Xylus, Nebula, Sonata and Fastrack; Jewellery (the largest segment in terms of revenue and consequently profits) with Tanishq, Zoya, Gold Plus from Tata, Mia and Fq teen diamonds; and ‘Others’ that include eyewear under the Titan EYE+ brand, apparel and eyewear also under Fastrack brand and precision engineering among others.
Over nine quarters staring from Q4-2012 until Q4-2014, Titan’s Advt Exp shows an upward trend in terms of absolute rupee value, but a drop in terms of Advt Exp as percentage of Op Inc.
During FY-2014, Titan spent 7.25 per cent more towards Advt Exp at Rs 404.43 crore (3.7 per cent of Op Inc) as compared to the Rs 377.09 crore ((3.73 per cent of Op Inc). Though the Advt Exp in terms of absolute rupees in FY-2014 was higher, in terms of percentage of Op Inc, the drop in Advt Exp was 0.03 per cent.
Please refer to Fig 1 and Fig 1A below for Titan’s Advt Exp trends.
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Titan’s Op Inc for Q4-2014 at Rs 2803.38 crore was 4.77 per cent more than the Rs 2675.77 crore in Q3-2014 and was 7.28 per cent more than the Rs 2613.24 crore in Q4-2013. In FY-2014, Titan’s Op Inc at Rs 10915.79 crore was 7.94 per cent more than the Rs 10112.67 crore in FY-2013.
PAT for Q4-2014 at Rs 206.44 crore (7.36 per cent of Op Inc) was 24.68 per cent more than the Rs 165.57 crore (6.19 per cent of Op Inc) in Q3-2014 and 11.61 per cent more y-o-y than the Rs 184.97 crore (7.08 per cent of Op Inc). PAT for FY-2014 at Rs 741.14 crore (6.79 per cent of Op Inc) was 2.2 per cent more than the Rs 725.18 crore (7.17 per cent of Op Inc) in FY-2013. Please refer to Fig 2 and Fig 2A for Op Inc and PAT details.
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The company says that weak consumer demand continues and this is affecting growth in both watches and jewellery. It claims that Reserve Bank of India (RBI) has given approval to it for hedging of its gold inventory on international commodity exchanges – brings back efficiency to hedging.
Titan says further that issues with gold supply in the market persist – high premium on gold continues encouraging smuggling and though the sale of gold coins has resumed the uptake has been very lukewarm.
It avers that Titan’s focus on retail network expansion continues – 39 stores (44000 sq. ft.) were added during
Q4-2014 across divisions. Year-to-date there has been an addition of 125 stores (180,000 sq. ft), including 30 TitanOne conversions.
Titan informs that it has entered into a JV agreement with Montblanc for single brand retail trade in India
Brands
Emami names Dhruv Aggarwal as chief growth officer
Former Bain partner steps in as FMCG firm sharpens growth playbook
MUMBAI: Emami Limited has appointed Dhruv Aggarwal as its chief growth officer, effective 25 March 2026, following the resignation of Giriraj Bagri.
Aggarwal joins the FMCG major from Bain & Company, where he most recently served as partner. With over two decades of experience across consulting and strategy, he brings a global perspective shaped by work across India, the US, the UK and Germany.
During his tenure at Bain, Aggarwal advised consumer, retail and media companies on large-scale transformations, business turnarounds and growth strategies. He was also closely involved with India’s startup ecosystem, guiding early-stage ventures on scaling and digital expansion, while supporting private equity and venture capital firms on investment decisions.
His earlier stints include a brief role at Barclays Capital and operational experience at Jindal Power, giving him a mix of financial and industry exposure.
Academically, Aggarwal holds an MBA from Indian Institute of Management Bangalore and has also been associated with University of Illinois Urbana-Champaign as a PhD candidate and teaching assistant.
The appointment comes at a time when Emami Limited is looking to sharpen its growth strategy in a competitive consumer market. With a seasoned strategist now at the helm of growth, the company appears set to double down on transformation and expansion in the months ahead.
