April 5, 2001
Sales of the Watch Division of Titan Industries
Limited during 2000-01 grew from 58.98 lakh watches in the previous year to 66.23 lakh
watches, an increase of 12%. Sales turnover grew by 2.2% going up from Rs 443.92 crores to
Rs 453.52 crores. The year was also marked by a continuing increase in the market share of
the Company.
The number of pieces of jewellery sold at 402,041
was over 33% higher than the previous year at 300,261. Turnover of the Jewellery Division
increased from Rs 153.21 crores to Rs 201.86 crores, an increase of almost 32%.
Exports have also shown an
encouraging growth, particularly in watches, and the export turnover on CIF basis for
2000-01 has crossed US$ 10 million.
Corporate turnover inclusive of
after sales service and other income has crossed the Rs 700 crore mark for the first time
in the history of the Company.
Cumulative
sales levels since the inception of these two
businesses have crossed 44 million watches and
1 million pieces of jewellery during the past
year.
