🔍

Timex Group India Ltd (500414)

📊 BSE: 500414 🏢 Gems, Jewellery And Watches 📢 Latest filing: 29 Aug 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Timex Group's revenue was ₹219 Cr (+29.5% year on year, -6.9% on the previous quarter), and net profit ₹25.0 Cr (+66.8% year on year); the operating margin was 16.1%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹219	+29.5%	-6.9%
Operating profit	₹35.2	+60.1%	-11.9%
Net profit	₹25.0	+66.8%	-7.3%
EPS (₹)	2.44	+68.3%	-10.0%
Operating margin	16.1%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Timex Group India Receives GST-ASMT12 Dropping All Tax Proceedings for FY 2022-23

🟢 POSITIVE ⭐ 3/10

REGULATORY 📅 29 Aug 2026, 06:07 PM

Timex Group India Limited has received an order in Form GST-ASMT12 from the Central Goods & Service Tax office, Noida, completely dropping all proceedings initiated via a Show Cause Notice dated May 25, 2026. The matter pertained to alleged GST return discrepancies for FY 2022-23, including Input Tax Credit reconciliations and e-way bill data. The tax authority accepted the company's submissions with no further action or financial liability imposed. The event carries zero monetary impact on operations or profitability.

Form GST-ASMT12 received on August 29, 2026, dropping all proceedings against the company.
Resolves Show Cause Notice dated May 25, 2026 regarding FY 2022-23 GST discrepancies.
Allegations dropped included ITC reconciliation differences, e-way bill variances, and place-of-supply interpretations.
Financial and operational impact confirmed as Nil / Not Applicable.

💡 Track regular quarterly operational performance and product expansions; no further action or monitoring is required for this tax matter.

Timex Group India Concludes 38th AGM; All Resolutions Approved with >99.9% Majority

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 20 Aug 2026, 10:39 PM

Timex Group India concluded its 38th Annual General Meeting on August 20, 2026, with all 4 ordinary resolutions passed by shareholders with over 99.9% majority. The approved agendas include adoption of FY26 audited financial statements, re-appointment of retiring Director David Thomas Payne, and confirmation/declaration of preference share dividends. The company reported a total of 72,185 shareholders on the record cut-off date of August 13, 2026. There were no qualifications or adverse remarks in the Statutory and Secretarial Auditor reports.

All 4 ordinary resolutions passed with >99.9% shareholder voting approval
Adoption of FY26 audited financial statements approved with 99.9994% votes in favour
Preference share dividend declaration and confirmation approved with 99.9803% votes in favour
72,185 total shareholders recorded as of the August 13, 2026 cut-off date

💡 Track upcoming Q2 quarterly financial results and execution on brand premiumization and D2C distribution channels.

Timex Group India Schedules 1-on-1 Investor Call with Hill Fort Capital on Sept 16, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 19 Aug 2026, 04:54 PM

Timex Group India has scheduled a one-on-one virtual meeting with institutional investor Hill Fort Capital on Wednesday, September 16, 2026, at 5:00 PM IST. The meeting will be conducted via Microsoft Teams as a Q&A session with no formal investor presentation. The company confirmed that no unpublished price sensitive information (UPSI) or forward-looking statements will be shared during the interaction.

One-on-one virtual investor interaction scheduled with Hill Fort Capital
Meeting date set for Wednesday, September 16, 2026, at 5:00 P.M.
Interaction will be conducted virtually via Microsoft Teams
No price-sensitive information, forward-looking statements, or presentations will be made

💡 This is a routine administrative intimation under SEBI LODR Regulation 30. Investors can monitor subsequent exchange filings post-meeting for any public disclosures if made.

30% Revenue Growth and 63% EBITDA Surge in Q1 FY26-27

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 29 Jul 2026, 06:55 PM

Timex Group India reported a robust Q1 FY26-27 with revenue reaching ₹218 crore, a 30% increase year-on-year. Profitability outpaced revenue growth as EBITDA surged 63% to ₹35.8 crore, resulting in a margin expansion to 16.3%. The performance was driven by strong momentum in the flagship Timex brand (+42%) and Guess (+74%), alongside a 67% growth in e-commerce. Profit Before Tax (PBT) saw a substantial 70% YoY increase to ₹33.8 crore, reflecting improved operational efficiencies.

Total Revenue reached ₹218 crore, a 30% increase over the corresponding quarter last year.
EBITDA expanded to ₹35.8 crore, representing a 63% YoY growth with margins at 16.3%.
E-commerce channel delivered 67% growth, while the Trade channel grew by 51%.
Flagship brand Timex grew by 42% and the Guess brand grew by 74% YoY.
Profit Before Tax (PBT) reached ₹33.8 crore, a 70% increase compared to the previous year.

💡 Investors should monitor if the company can maintain these elevated EBITDA margins (16.3% vs TTM 14.4%) during the upcoming festive season and track the scaling of the new Aston Martin and luxury segments.

30% Revenue Growth and 1.6x EBITDA in Q1 FY27; Capacity Expanded to 6 Million Units

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 29 Jul 2026, 06:47 PM

Timex Group India reported a strong Q1 FY27 with total income reaching Rs 219.45 Cr, a 30% increase year-on-year. Profitability improved significantly as EBITDA grew 1.6x to Rs 35.78 Cr, with margins expanding from 13.0% to 16.3%. The company has scaled its manufacturing capacity at the Baddi plant to 6 million units per year, up from 4 million units in the previous year. Growth was primarily driven by E-commerce and premium brands like Guess and Aston Martin.

Total Income grew 30% YoY to Rs 219.45 Cr in Q1 FY27, representing ~27% of TTM revenue.
EBITDA increased 1.6x to Rs 35.78 Cr, with margins improving to 16.3% from 13.0% YoY.
Manufacturing capacity at the Baddi plant increased by 50% to 6 million units per year.
Advertising and sales promotion spend rose to Rs 18.64 Cr from Rs 12.46 Cr YoY to support brand growth.
Profit Before Tax (PBT) grew 1.7x YoY to reach Rs 33.78 Cr.

💡 Monitor the sustainability of the 16.3% EBITDA margin and the utilization rate of the newly expanded 6 million unit capacity. Watch for the impact of increased advertising spend on market share in the premium segment.

70.6% YoY PAT Growth in Q1 FY27; Revenue up 29.6% to ₹218.9 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 29 Jul 2026, 06:41 PM

Timex Group India reported a strong start to FY27 with net profit surging 70.6% YoY to ₹25.02 Cr, up from ₹14.67 Cr in the previous year's quarter. Revenue from operations grew 29.6% YoY to ₹218.90 Cr, although it saw a slight sequential dip of 6.9% from Q4 FY26. The company maintained strong profitability with an EPS of ₹2.44 for the quarter. Despite a significant increase in material costs to ₹155.01 Cr, the company's focus on premiumization and the 'Analog Life' trend continues to drive bottom-line growth.

Net Profit increased by 70.6% YoY to ₹25.02 Cr from ₹14.67 Cr.
Revenue from operations rose 29.6% YoY to ₹218.90 Cr, representing ~27% of TTM revenue.
Earnings Per Share (EPS) improved significantly to ₹2.44 from ₹1.33 in Q1 FY26.
Cost of materials consumed spiked to ₹155.01 Cr compared to ₹91.00 Cr in the year-ago period.
Profit Before Tax (PBT) stood at ₹33.78 Cr, a 70% increase over the ₹19.87 Cr reported in Q1 FY26.

💡 Investors should monitor if the company can sustain these high growth rates (targeting 40%) while managing the sharp rise in material costs. Watch for updates on the Direct-to-Consumer (DTC) expansion and the performance of premium franchises like Timex Vector.

70% PAT Growth: Timex India Reports Strong Q1 FY27 Results with ₹219 Cr Revenue

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 29 Jul 2026, 06:38 PM

Timex Group India delivered a robust performance for the quarter ended June 30, 2026, with revenue from operations growing 29.6% YoY to ₹218.90 Cr. Net profit surged 70.5% YoY to ₹25.02 Cr, significantly outpacing revenue growth due to improved operational leverage. The company's PBT margin (before exceptional items) expanded to 15.4% from 11.8% in the same quarter last year. These results align with the company's stated strategy of premiumization and targeting Gen-Z consumers.

Revenue from operations increased 29.6% YoY to ₹218.90 Cr from ₹168.94 Cr.
Net Profit (PAT) grew by 70.5% YoY to ₹25.02 Cr compared to ₹14.67 Cr in Q1 FY26.
Earnings Per Share (EPS) for the quarter rose to ₹2.44 from ₹1.33 in the previous year.
Profit Before Tax (PBT) margin improved to 15.4% from 11.8% YoY.
Total expenses as a percentage of revenue decreased, indicating better cost management despite a ₹1.65 Cr increase in employee benefits.

💡 Investors should monitor the sustainability of these margins in upcoming quarters and watch for updates on the expansion of the Direct-to-Consumer (DTC) channel and premium 'Vector' franchise performance.

Timex Group India Schedules One-on-One Investor Meeting for August 3, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 27 Jul 2026, 03:54 PM

Timex Group India has announced a one-on-one meeting with investors and analysts scheduled for August 3, 2026, at 3:30 PM. The interaction will take place either physically in Noida or virtually via Microsoft Teams. The company has clarified that no unpublished price-sensitive information (UPSI) or forward-looking statements will be discussed during this Q&A-only session. This meeting comes amid a period of significant stock performance, with a 173.1% price return over the last 12 months and a high P/E ratio of 77.5.

Meeting scheduled for August 3, 2026, at 3:30 PM IST
Format is a one-on-one interaction via physical or virtual (Teams) mode
Company reported TTM revenue of Rs 799 Cr with an OPM of 14.4%
Stock has seen a 101.3% price return over the last 6 months
Promoter holding remains steady at 51.0% as of June 2026

💡 Investors should monitor the company's website for any post-meeting transcripts, although the company has stated no new material information will be disclosed. The focus remains on the execution of their 40% growth strategy and premiumization via the Timex Vector franchise.

Timex Group India Issues KYC Update Notice to Physical Shareholders

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 20 Jul 2026, 05:33 PM

Timex Group India has issued a formal reminder to shareholders holding shares in physical form to update their PAN, KYC, and nomination details. This action follows the SEBI Master Circular dated February 6, 2026, aimed at streamlining investor records. Shareholders who do not comply will be unable to lodge grievances or receive dividends electronically. The company also strongly advised shareholders to dematerialize their holdings to mitigate risks and facilitate future share transfers.

Compliance with SEBI Master Circular dated February 6, 2026, regarding physical shareholding.
Mandatory submission of Form ISR-1 for PAN, Bank details, and contact information.
Electronic-only dividend payments for compliant folios effective from April 1, 2024.
Requirement for dematerialization for any transfer, transmission, or transposition of securities.
Previous reminders on this subject were sent on four dates between 2022 and 2025.

💡 Shareholders holding physical certificates should immediately contact the RTA, Alankit Assignments Limited, to update their KYC and dematerialize their shares to ensure seamless receipt of dividends.

Timex Group India Schedules 38th AGM for August 20, 2026; Dispatches FY26 Annual Report

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 20 Jul 2026, 05:18 PM

Timex Group India has announced its 38th Annual General Meeting (AGM) will be held on August 20, 2026, at 4:00 PM IST via video conferencing. The company has dispatched the Annual Report for FY 2025-26 to all shareholders, including physical letters with QR codes for those without registered emails. This follows a period of significant growth, with TTM revenue reaching ₹799 Cr and a high ROCE of 93.0%. The report is expected to detail the company's strategy for its 40% growth target and premiumization through the Timex Vector franchise.

38th Annual General Meeting scheduled for August 20, 2026, at 04:00 PM IST
Annual Report for FY 2025-26 dispatched to shareholders via electronic mode and physical letters with web links
TTM Revenue stands at ₹799 Cr with a Net Profit of ₹75 Cr as per latest financial context
Company maintains a robust ROCE of 93.0% and a low Debt/Equity ratio of 0.05
Promoter holding remains stable at 51.0% as of June 2026

💡 Investors should review the FY26 Annual Report for management's outlook on the 'Analog Life' trend and the sustainability of the 40% growth rate. Key areas to monitor include the performance of the premium Vector franchise and the expansion of Direct-to-Consumer (DTC) channels.

Timex Group India Releases FY26 BRSR; Manufacturing Drives 66.5% of Turnover

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 20 Jul 2026, 02:16 PM

Timex Group India has published its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26. The report confirms that manufacturing remains the core business, contributing 66.53% of turnover, while wholesale trading adds 32.56%. The company operates a lean structure with one manufacturing plant and 600 total employees. Despite a high volume of 13,564 customer complaints during the year, the company maintained a 100% resolution rate, reflecting a robust grievance redressal mechanism.

Manufacturing of watches accounts for 66.53% of the total turnover
Wholesale trading contributes 32.56% to the company's revenue
Exports represent a minor portion of the business at approximately 1.7% of turnover
Total workforce consists of 600 employees and 224 workers as of the end of FY 2025-26
Resolved 100% of the 13,564 customer complaints received during the financial year

💡 Investors should treat this as a routine regulatory disclosure. The focus should remain on the company's ability to execute its 40% growth target and premiumization strategy mentioned in previous financial contexts.

Timex Group India Schedules 38th AGM; Proposes ~Rs 34 Cr Preference Dividend Payout

🟡 NEUTRAL ⭐ 5/10

DIVIDEND 📅 20 Jul 2026, 02:11 PM

Timex Group India has scheduled its 38th Annual General Meeting for August 20, 2026. The primary agenda includes the approval and confirmation of substantial preference dividend payments totaling approximately Rs 34.01 crore. These payments cover accumulated liabilities across various preference share classes for multiple years, ranging from FY 2018-19 to FY 2025-26. This total payout is significant, representing approximately 45% of the company's TTM PAT of Rs 75 crore.

Total proposed preference dividend payout across four categories is approximately Rs 34.01 Cr
Rs 14.00 Cr allocated for 5% Cumulative Preference Shares covering eight financial years from FY 2018-19 to FY 2025-26
Rs 15.79 Cr confirmed for 13.88% Preference Shares for the period FY 2020-21 through March 20, 2026
The total payout of ~Rs 34.01 Cr represents roughly 30.6% of the company's current Net Worth of Rs 111 Cr
Book closure for the AGM is set from August 18, 2026, to August 19, 2026

💡 Investors should monitor the AGM proceedings for any commentary on future growth strategy and the impact of these large preference dividend outflows on the company's cash position for expansion.

Timex Group India Releases FY26 Annual Report; Confirms Rs 15.79 Cr Preference Dividend

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 20 Jul 2026, 01:59 PM

Timex Group India has released its FY 2025-26 Annual Report and scheduled its 38th AGM for August 20, 2026. The company is seeking shareholder confirmation for preference dividend payments totaling approximately Rs 15.79 crore, covering arrears from FY 2020-21 to FY 2023-24 and the period up to March 20, 2026. A significant block of 2.29 crore 13.88% preference shares reached maturity on March 20, 2026. The report emphasizes a 40% growth target driven by premiumization and the 'Analog Life' trend among Gen-Z consumers.

38th Annual General Meeting (AGM) scheduled for August 20, 2026, via video conferencing
Confirmation of Rs 12.71 crore dividend on 13.88% preference shares for the period FY 2020-21 to FY 2023-24
Payment of Rs 3.08 crore dividend for the final period of 13.88% preference shares ending March 20, 2026
Maturity and redemption of 2,29,00,000 preference shares (13.88% class) occurred on March 20, 2026
Proposed dividend of Rs 22,500 (Rs 0.009 per share) on 25,00,000 non-cumulative preference shares

💡 Investors should review the full Annual Report for management's outlook on the Baddi facility's capacity and the impact of rising royalty expenses, which reached Rs 10.52 Cr in a recent quarter.

Timex Group India to hold 38th AGM on August 20, 2026; Cut-off date August 13

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 07 Jul 2026, 02:19 PM

Timex Group India Ltd has scheduled its 38th Annual General Meeting (AGM) for August 20, 2026, at 4:00 P.M. The meeting will be conducted virtually via video conferencing. The company has established August 13, 2026, as the cut-off date to determine shareholder eligibility for voting on resolutions. Additionally, the register of members and share transfer books will be closed from August 18 to August 19, 2026.

38th Annual General Meeting scheduled for August 20, 2026, at 4:00 P.M.
Cut-off date for voting eligibility set for Thursday, August 13, 2026.
Book closure period defined from August 18, 2026, to August 19, 2026 (both days inclusive).
Annual Report for FY 2025-26 to be distributed electronically to registered members.

💡 Investors should ensure their email addresses are updated with depository participants to receive the FY 2025-26 Annual Report and monitor for the meeting notice to review proposed resolutions.

View All 500414 Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total Income for Q2 FY25-26 reached INR 244.04 Cr, representing a 40% YoY growth compared to INR 174.17 Cr. For the half-year (H1 FY26), revenue grew by 46% YoY. Growth was driven by a surge in E-commerce (high double-digit growth) and strong performance in the Trade channel due to early festive demand.

Geographic Revenue Split

Not disclosed in available documents. The company operates regional sales offices in Noida, Mumbai, Kolkata, Bangalore, and Chennai, with its primary manufacturing facility in Baddi, Himachal Pradesh.

Profitability Margins

Net Profit Margin improved to 5.8% in FY24-25 from 5.0% in the previous year. Operating Profit Margin increased to 9.2% from 8.3% YoY. Profit Before Tax for Q2 FY26 was INR 40.69 Cr, a 70.6% increase from INR 23.85 Cr in the previous year.

EBITDA Margin

EBITDA for Q2 FY26 was INR 42.91 Cr, growing 70% YoY from INR 25.22 Cr. H1 FY26 EBITDA reached INR 64.86 Cr, a 116% increase from INR 29.98 Cr. This growth reflects improved operational leverage and higher production volumes at the Baddi facility.

Capital Expenditure

Not disclosed in absolute INR Cr for future periods; however, the company reported producing the highest ever number of watches in a single quarter at its Baddi facility in Q2 FY26, indicating recent capacity optimization or expansion.

Credit Rating & Borrowing

The company reported a borrowing facility amounting to INR 4.56 Cr. It did not provide any loans or guarantees under Section 186 during the review period. Interest and other fiscal costs are noted as macro sensitivities.

⚙️ Operational Drivers

Raw Materials

Specific raw materials like stainless steel, watch movements, and glass are implied but not listed with individual cost percentages. The company notes 'price of raw materials' as a key risk factor affecting profitability.

Import Sources

Sourced through a Global Supply Chain organization and the Timex Group Global Design Centre in Milan, Italy, to leverage global-local synergy.

Capacity Expansion

Current capacity not specified in MT/units, but the Baddi, Himachal Pradesh factory achieved its 'highest ever' production volume in Q2 FY26 to meet a 40% increase in demand.

Raw Material Costs

Not disclosed as a specific percentage of revenue, but the company emphasizes continuous innovation and global supply chain synergy to manage costs and deliver product differentiation.

Manufacturing Efficiency

Manufacturing efficiency is driven by the Baddi facility's record production levels and the Swiss-based Timex Group Atelier, which provides ISO 14001 accredited environmental management and innovation.

Logistics & Distribution

Not disclosed as a specific percentage, but the company is strengthening its omnichannel presence across both online (E-comm) and offline (Trade) channels to balance distribution costs.

📈 Strategic Growth

Expected Growth Rate

40%

Growth Strategy

Growth is targeted through the 'Analog Life' trend popular with Gen-Z, premiumization via the Timex Vector franchise, and high-impact collaborations (e.g., Superman, Fortnite). The company is also expanding its Direct-to-Consumer (DTC) reach and reissuing iconic 1960s/70s designs like the Q Timex series.

Products & Services

Wristwatches (Analog, Automatic, Smart), Jewellery (Guess brand), and wearable technology (iConnect by Timex, Timex Smart Neo).

Brand Portfolio

Timex, Helix, TMX, Guess, iConnect, Waterbury, Marlin, Q Timex, and Timex Vector.

New Products/Services

Launch of Guess Automatic watches, Timex Smart Neo, and iConnect Arc. The Q Timex 1979 Reissue has been a sell-out success, contributing to the premium segment growth.

Market Expansion

Focus on strengthening E-commerce and omnichannel platforms. Strategic segmentation of the product portfolio is underway to launch targeted products for specific consumer attributes.

Market Share & Ranking

Not disclosed as a specific percentage, but identifies as one of the most powerful portfolios in the Indian watch industry.

Strategic Alliances

Collaborations with Fortnite and Superman; licensing for Guess watches and jewellery. Historically had a JV with Titan which ended in 2000.

🌍 External Factors

Industry Trends

The industry is shifting toward 'Analog Life' (traditional watches as fashion statements) and Smart wearables. Timex is positioning itself by blending heritage (Reissues) with modern tech (Smart Neo) to capture both segments.

Competitive Landscape

Faces intense competition from domestic and international brands, particularly in branding and aggressive pricing strategies.

Competitive Moat

Moat is built on a 170-year heritage, Swiss-made production excellence at the Ticino Atelier, and a powerful brand portfolio. Sustainability is driven by the ability to launch rapid designs (2-week timelines) via digital systems.

Macro Economic Sensitivity

Highly sensitive to inflation and foreign exchange rates, as these affect the cost of imported components and global supply chain operations.

Consumer Behavior

Shift toward Gen-Z trendsetters and 'fan communities' (Fortnite/Superman), requiring more frequent product 'drops' and influencer-led marketing.

Geopolitical Risks

Trade barriers and changes in international commercial rules could impact the import of Swiss-made components and global design synergy.

⚖️ Regulatory & Governance

Industry Regulations

Compliant with the Companies Act 2013 and SEBI (LODR) Regulations. The company adheres to Secretarial Standards SS-1 and SS-2.

Environmental Compliance

The Timex Group Atelier holds ISO 14001 accreditation for Environmental Management.

Taxation Policy Impact

Effective tax impact seen in the payment of INR 106.70 Cr in sales taxes and duties in FY25. The company follows applicable Indian accounting standards.

Legal Contingencies

No significant or material orders passed by regulators or courts impacting the going concern status. A notice for transfer of share certificates was published in January 2026.