Strategic foresight is fundamental in navigating the dynamic landscape of finance, ensuring companies not only survive but thrive in the face of uncertainty. Ashok Kumar Sonthalia, the Chief Financial Officer (CFO) of Titan Company Limited, epitomises this quality through his extensive experience spanning over 30 years in strategic financial planning, business development, and risk management across diverse industries.
Ashok’s tenure at Titan, commencing in February 2021, has been transformative. Titan, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), operates in various segments, including watches, jewellery, and eyewear. Under his leadership, the company has witnessed a strategic shift towards expanding its international footprint and diversifying its product lines. This strategic vision has been pivotal in driving Titan’s financial performance, even amid market volatility, reinforcing its position as a market leader.
Prior to joining Titan, Ashok served as the CFO of Larsen & Toubro Infotech (LTI) from August 2015 to January 2021. At LTI, he oversaw critical aspects such as financial planning, risk management, and strategic decision-making processes. His tenure was characterised by substantial contributions to the company’s financial health and operational efficiency, bolstering its competitive edge within the IT services sector. His adeptness in navigating complex financial terrain and implementing effective strategies played a pivotal role in sustaining LTI’s robust financial performance.
Furthermore, Ashok’s role as Head of Finance and Accounts at L&T Power from October 2013 to August 2015 underscored his expertise in financial management. During this tenure, he spearheaded efforts to enhance financial performance and operational efficiency within the power division. His strategic initiatives contributed significantly to L&T Power’s ability to navigate industry challenges and achieve its financial objectives.
Ashok’s contribution to financial management extends beyond L&T Power. At Greaves Cotton Limited, where he served as CFO from May 2010 to October 2013, he played a critical role in driving financial planning and strategic initiatives. His ability to align financial strategies with business objectives facilitated Greaves Cotton’s sustained growth within the engineering sector, cementing its market position.
During his tenure as General Manager (Strategic Finance & Treasury) at Tata Chemicals from October 2006 to May 2010, Ashok played an instrumental role in managing treasury operations, financial risk, and strategic financial planning. His strategic foresight and financial acumen were vital in maintaining Tata Chemicals’ robust financial health and supporting its growth initiatives.
Ashok’s international experience further enriches his financial expertise. As CFO at Tata Inc. in New York, USA, from February 2003 to October 2006, he managed the financial operations of the company’s North American subsidiary. His ability to navigate financial operations in a multinational context underscores his adaptability and proficiency in navigating diverse financial landscapes.
At Titan, Ashok emphasises a balanced approach to strategic financial planning and risk management. He ensures that the company’s growth strategies are sustainable and resilient against market volatility. His comprehensive understanding of financial risk management enables Titan to mitigate potential risks while capitalising on growth opportunities, thereby safeguarding the company’s financial stability and ensuring long-term growth.
Under Ashok’s leadership, Titan has pursued a diversification strategy, expanding its business lines beyond jewellery to include Indian ethnic wear, perfumes, and accessories. This approach not only broadens the company’s market reach but also mitigates the risks associated with dependency on a single product line. Furthermore, Titan’s regionalization strategy, where offerings are customised based on local cultures and preferences, has enhanced its appeal to diverse customer bases across different geographies, contributing to its success in various markets.
Recognising the pivotal role of digital platforms in modern retail, Ashok has prioritised enhancing Titan’s digital presence. The company’s omni-channel strategy ensures a seamless customer experience by integrating online and offline channels. This digital transformation is essential for meeting the evolving needs of consumers and staying competitive in the retail market. Additionally, Titan continues to expand its physical retail footprint, with plans to open 35–40 new Tanishq stores annually, consolidating its market position and driving growth.
Ashok’s commitment to ethical leadership, characterised by integrity, transparency, and accountability, fosters a collaborative and motivated finance team at Titan. His leadership style encourages innovation and strategic thinking, ensuring that financial practices adhere to the highest standards, thereby reinforcing trust and credibility within the organisation and among stakeholders.
Looking ahead, Ashok’s focus remains on ensuring Titan’s financial resilience and sustainable growth. He aims to grow the business 2.5 times from the FY22 baseline over the next five years. His strategic vision encompasses both short-term performance and long-term stability, positioning Titan for continued success in the evolving market landscape. Through his strategic initiatives and leadership, Ashok continues to drive Titan towards a future of sustained growth and financial stability.
