India’s Titan Rated Among S&P’s Top 300 Global Challengers

Titan Industries, the parent company of India’s largest jewelry brand Tanishq, is one of seven mid-sized public Indian companies selected by Standard & Poor’s in its recently released Global Challengers Class of 2007 list.

The list seeks to identify those firms that are in position to seriously challenge the world’s leading companies in their respective fields. According to S&P, the companies have overcome the ‘growing pains’ of small firms and have the potential to become tomorrow’s leaders.

The ranking is based on a number of parameters including market capitalization, share price appreciation, earnings per share growth, sales growth, and employee count growth.

Tanishq alone has nearly 100 outlets across India and reported sales of nearly Rs 120 million ($2.9 million) in fiscal 2006-07. It has also embarked on a major overseas expansion, and will be entering the U.S. market this year. 

The jewelry division now accounts for more than half of the overall revenue of Titan Industries, though it is relatively younger than the older watch division, which has over 150 local and international outlets. Titan portfolio also includes gold and diamond studded jewelry watches.