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Titan eyes six-fold sales rise
NEW DELHI - Titan Industries, an Indian company that got 96 per cent of sales from watches and jewellery, plans to boost its aircraft parts unit revenue six-fold in five years as it taps rising local output of aerospace hardware.
Sales from the unit that makes components for companies including United Technologies and Hindustan Aeronautics, will rise to Rs10 billion ($188 million) by 2018 from Rs1.5 billion currently, N.P. Sridhar, business head of Precision Engineering Components at Titan, said in an interview in Bangalore. The company will pursue partnerships, including with clients to spur growth, he said.
Titan is expanding the business that serves aeronautical and defense industries as the nation seeks to cut arms purchases from overseas. It also supplies the Indian Space Research Organisation as well as United Technologies’s Pratt & Whitney unit and Hindustan Aeronautics.
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