Titan Engineering Automation plans ₹350–400 crore capex in 3 years.

Titan Engineering Automation Ltd., a wholly-owned subsidiary of Titan Company Ltd., and part of the Tata group, has set a capex target of ₹350–400 crore for three years. The allocation of funds is primarily intended to support advancements in both its automation and manufacturing business divisions, according to a top company executive.

Titan, a leading lifestyle brand in the country, has had its engineering business operational since the early 90s; however, it was then primarily involved in the watchmaking business. It was in 2017 that TEAL became a wholly-owned subsidiary of Titan, and today it operates in two verticals: automation solutions and manufacturing services.

Speaking to businessline, Sridhar Neelakantan CEO of TEAL, said the company recently crossed the ₹500- crore mark. “We closed FY23 at ₹502 crore in topline, of which automation would be closer to ₹280–290 crore, and the rest is from manufacturing services.”

Elaborating on the company’s automation solutions market reach, he said, “Any car that you see on the Indian roads has some system that is actually assembled on a Titan automation solution. That’s the degree of penetration that we have in this country today.”

Although the majority of orders stem from the automotive sector, TEAL also caters to industries like energy, consumer products, medical devices and life sciences. 

HBL