Titan Engineering & Automation Ltd (TEAL), a subsidiary of Titan Company Ltd. under the Tata Group, is set to expand its operations with a new electronics manufacturing facility in Chennai and an expansion of its Hosur site. The move is part of a larger ₹430-crore investment plan over five years, unveiled at the Global Investors Meet (GIM) 2024.
New Chennai Plant
TEAL has secured land for the new Chennai facility, which will focus on producing electronics components and support systems. The plant will operate on a leased premise and is strategically located to ensure closer proximity to customers. This development marks a significant step in TEAL’s growth strategy.
Hosur Expansion
In Hosur, TEAL has acquired an additional 10 acres of land, bringing the total number of units at the site to four. This expansion is part of the company’s broader plan to strengthen its manufacturing capabilities. A significant portion of the investment, ₹200 crore, will be allocated to producing components for wafer fab equipment, which is critical for semiconductor manufacturing.
Financial Growth Targets
TEAL reported revenues of ₹761 crore in the previous fiscal year and expects to achieve between ₹830 crore and ₹900 crore in the current financial year. NP Sridhar, MD & CEO of TEAL, has set an ambitious annual growth target of 20-25% for the coming years.
From Watchmaking to Global Automation Solutions
Originally established in the 1990s as a watchmaking unit, TEAL has transformed into a leading provider of manufacturing and automation solutions. The company began as an in-house engineering team focused on high-precision component manufacturing and machine design. Today, it operates a full-fledged machine-building and automation business, serving industries such as automotive, energy, life sciences, engineering, and consumer products.
Global Reach and Specialized Solutions
TEAL has made significant strides in the global market, exporting machines to countries like Germany, France, and Italy. “This is a major shift from the days when we used to import machines,” Sridhar said. The company also offers turnkey assembly and testing solutions for sectors including solar wafer production, watches, shaving blades, and pencils.
High-Precision Manufacturing
TEAL specializes in producing high-precision components and sub-assemblies for the aerospace, defense, and semiconductor industries. Its products are used in aircraft by global giants like Boeing and Airbus, with components such as turbine discs and diffusers. In the defense sector, TEAL supplies parts for thermal imaging, radars, avionics, and in-flight connectivity systems.
Conclusion
With its new Chennai plant and Hosur expansion, TEAL is poised to strengthen its position as a key player in the manufacturing and automation sectors. The company’s focus on innovation, precision, and global outreach underscores its commitment to driving growth and meeting the evolving needs of its clients.
