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Ajoy Chawla

Managing Director, Titan Company Limited

Search every verified Ajoy Chawla interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Ajoy Chawla, Managing Director of Titan, discussed the company's recent performance and outlook in several media appearances. He reported 25% overall growth for Titan's consumer businesses in Q2, with jewellery growing 22%, despite a shift in the festive calendar. Chawla attributed some buyer growth challenges to a decline in gold coin sales, which he linked to investment demand slowing, while noting that studded jewellery maintained strong momentum. He also mentioned that same-store growth exceeded 20% in the core jewellery business. Chawla expressed confidence in the upcoming festive season, stating that early signs were encouraging and that he expected a strong quarter. He described gold rate volatility, rather than broader economic conditions, as the main challenge, noting that customers have become hesitant due to uncertainty about potential customs duty changes and price fluctuations. Regarding diamonds, Chawla said natural diamonds have continued to grow consistently across Titan's brands, and he dismissed the debate over natural versus lab-grown diamonds as a "false debate," citing the low overall penetration of diamond jewellery in India as evidence of significant headroom for both categories.

Recent appearances

Verified interview transcripts

Notable quotes

“I don't believe that we should be thinking about it as one balancing the other. I think we are getting caught up in a false debate. I would say it's a wrong debate. A debate is when something will grow at the cost of something else. That is not the case. India is such a huge market. It is such an underpenetrated for diamond jewelry. I mean natural diamonds and lab put together is less than 15% of penetration. So the ”

“I am very confident that festive season will go very well. See this timing shift between September 2nd half and October 1st half between years is quite natural and expected and I would say even quarter 2 overall was very good. So if I take off this whole timing related piece it is still you know without necessarily putting an exact but I think our growth will be four 5% higher than what we have declared. In addition ”

“I think natural diamonds have always been good. It's just that in the previous couple of years there was a lot of narrative around lab grown and the potential threat that they pose to natural. So I think there was a lot more narrative. There was a softening of prices internationally but all that is now behind us. I think prices have started firming up again and in India at least natural diamonds continues to be a ver”

“डमास में इफेक्ट काफी हुआ है क्योंकि उनकी डिपेंडेंस बिल्कुल ही मिडिल ईस्ट के ऊपर है और ज्यादा करके अरब सेगमेंट में हमारा मिडिल ईस्ट में तनिष्क का भी बिजनेस है उसका इंपैक्ट कम हुआ है क्योंकि इंडियन डायोस्पोरा पे इतना इफेक्ट जितना अरब सेगमेंट पे हुआ है नहीं है।”

“हाईलाइट्स यह कि इस बार सब बिजनेसेस में हमने बहुत अच्छी ग्रोथ देखी है। हेल्दी डबल डिजिट ग्रोथ्स और पर्टिकुलरली वॉचेस और आईवेयर में भी हमने बहुत अच्छी ग्रोथ देखी है। वॉचेस में बिकॉज़ वी हैव ल्च मेनी न्यू इनोवेटिव प्रोडक्ट्स। उसकी वजह से कस्टमर में बहुत इंटरेस्ट है। और ऑफ कोर्स वेब सीरीज का भी कुछ इंपैक्ट हुआ है क्योंकि हमने देखा है कि कुछ कक्शंस एज वगैरह में बहुत ज्यादा इंटरेस्ट आ चुका है कस्टमर्स।”

“The biggest risk for Titan is about not seizing that opportunity. So, we have been prioritizing topline growth, market share gain and as a consequence, profit growth has followed.”

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