Titan Company expects its watch business to cross USD 1 billion in sales within the next two years, marking a significant growth milestone for the segment. This ambitious target signals the company's confidence in the growth potential of its timepiece division.

Growth Projection Details

The company's watch business is positioned to achieve this significant milestone, representing a substantial expansion from current levels. The USD 1 billion sales target reflects Titan's strategic focus on scaling its watch operations.

Strategic Implications

This projection indicates Titan's commitment to strengthening its position in the watch market segment. The target suggests the company anticipates favorable market conditions and has strategies in place to drive substantial revenue growth in its timepiece business.

Titan Intech Limited has secured a significant financial milestone with IDBI Bank Limited granting an in-principle approval for a substantial term loan facility. The approval represents a crucial step forward for the company's expansion plans in the electronics manufacturing sector.

Loan Facility Details

The financial arrangement encompasses several key parameters that highlight the scope and purpose of the funding:

Project and Strategic Implications

The term loan facility is specifically earmarked for Titan Intech Limited's proposed Integrated Electronic Manufacturing Project. This initiative represents the company's strategic move to expand its capabilities in the electronics manufacturing domain, positioning itself to capitalize on growing market opportunities in this sector.

Regulatory Compliance and Next Steps

Titan Intech Limited has made this disclosure voluntarily under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company emphasized its commitment to keeping stakeholders appropriately informed about material developments that could impact its business operations.

The company has outlined its approach for moving forward with the loan facility:

• Undertaking necessary next steps in accordance with applicable internal policies of both the bank and company
• Ensuring compliance with regulatory requirements throughout the process
• Making further disclosures as required upon receipt of final sanction
• Executing definitive financing documents when applicable

Corporate Communication

The announcement was communicated to BSE Limited through the company's Corporate Secretary. The disclosure serves to maintain transparency with the exchange and provide stakeholders with timely information about this significant financial development.

This in-principle approval marks an important step in Titan Intech Limited's growth strategy, providing the financial foundation necessary to pursue its Integrated Electronic Manufacturing Project. The company will continue to update stakeholders as the loan facility progresses through the formal approval and documentation stages.