Formalising Informal Sectors Is What We Have Done Best: Bhaskar Bhat

Titan Co MD, who retires this month-end, looks back on his 36 years at the company

- Vinay Kamath/ K Giriprakash

Bhaskar Bhat, Titan Co. Ltd’s Managing Director, retires on September 30 after 36 years with the company. Bhat, 65, joined ‘the watch project’ of the Tata group in 1983 from Godrej & Boyce and, for several months afterwards, didn’t know if the project would take off at all, as the government kept rejecting the Tata overtures. But, when it did enter watches, Titan revolutionised the business with its good-looking quartz watches. An IIT Madras-IIMA graduate, Bhat took over as MD in 2002 and it was a virtual baptism by fire; Titan was emerging from the Xerxes Desai era and the balance sheet was weak. The company was struggling with losses from a failed European venture and Tanishq was yet to turn around. The watch business too was under pressure and, in early 2003,

Bhat had to contend with a 68-day lockout, with the workforce striking over a performance-linked wage revision. But he led the company turnaround and put it on a stellar growth path. In an interview with BusinessLine, he looks back on his many years with Titan. Even though Bhat retires, he continues on the board of Tata Sons, the group’s holding company.

Looking back what have been the highs and lows in your 36 years with Titan?