Timex Group India Ltd

₹ 224 4.18%

01 Jul - close price

About

Timex Group India Limited is a group company of Tanager Group B.V. (formerly known as Timex Group B.V.). The Co is engaged in manufacturing and trading of watches and rendering of related after sales service. The Company also provides information and technology support services to the Group Companies. ^[1]^[2]

Key Points

History
Co entered India in 1988 as a joint venture with Jayna Times Industries Ltd until 1990. In 1990, co entered into a JV with Titan which ended in 2000. Co got listed in 1994. Timex Group is America’s Oldest Watchmaker, established in 1854 in Connecticut^[1]^[2]

Website BSE

Market Cap ₹ 2,264 Cr.
Current Price ₹ 224
High / Low ₹ 290 / 118
Stock P/E 72.0
Book Value ₹ 8.32
Dividend Yield 0.00 %
ROCE 49.0 %
ROE 69.2 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Company is expected to give good quarter
Company has delivered good profit growth of 81.0% CAGR over last 5 years

Cons

Stock is trading at 27.0 times its book value
Though the company is reporting repeated profits, it is not paying out dividend

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Consumer Durables Consumer Durables Gems, Jewellery And Watches

Part of BSE SmallCap BSE Allcap BSE Consumer Discretionary

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	79.09	94.27	121.23	84.64	83.31	106.29	126.36	94.20	92.06	108.67	174.08	119.94	135.41
	76.25	80.85	100.08	88.71	75.75	98.97	110.26	94.91	82.37	104.43	148.95	115.73	121.03
Operating Profit	2.84	13.42	21.15	-4.07	7.56	7.32	16.10	-0.71	9.69	4.24	25.13	4.21	14.38
OPM %	3.59%	14.24%	17.45%	-4.81%	9.07%	6.89%	12.74%	-0.75%	10.53%	3.90%	14.44%	3.51%	10.62%
	0.72	0.26	0.02	0.01	0.04	0.37	0.57	0.35	1.48	0.52	0.09	0.41	0.70
Interest	0.46	0.77	1.42	1.72	1.21	1.13	1.07	0.75	0.88	0.66	0.53	1.17	1.25
Depreciation	0.85	0.90	0.94	0.91	0.85	0.89	0.90	0.88	0.91	0.85	0.84	0.82	0.79
Profit before tax	2.25	12.01	18.81	-6.69	5.54	5.67	14.70	-1.99	9.38	3.25	23.85	2.63	13.04
Tax %	0.00%	0.00%	0.00%	0.00%	-304.15%	25.04%	25.17%	-25.13%	24.52%	25.23%	25.32%	26.24%	29.14%
	2.25	12.01	18.81	-6.69	22.39	4.25	11.00	-1.49	7.08	2.43	17.81	1.94	9.24
EPS in Rs	0.22	1.19	1.86	-0.66	2.22	0.42	1.09	-0.15	0.70	0.24	1.76	0.19	0.92
Raw PDF

Upcoming result date: 29 July 2025

Profit & Loss

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	124	142	173	200	207	242	252	141	264	383	419	538
	153	150	176	199	197	230	248	144	256	345	386	490
Operating Profit	-29	-8	-3	2	11	11	4	-4	8	38	32	48
OPM %	-24%	-6%	-2%	1%	5%	5%	1%	-3%	3%	10%	8%	9%
	0	2	-0	0	1	0	0	1	1	0	3	2
Interest	1	3	4	3	2	2	3	2	2	5	4	4
Depreciation	2	2	3	2	2	2	3	4	4	4	4	3
Profit before tax	-33	-11	-9	-3	8	8	-2	-8	3	30	28	43
Tax %	0%	0%	0%	0%	0%	11%	0%	-1%	0%	-57%	25%	27%
	-33	-11	-9	-3	8	7	-2	-8	3	47	21	31
EPS in Rs	-3.27	-1.09	-0.92	-0.32	0.74	0.74	-0.18	-0.79	0.32	4.61	2.06	3.11
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	14%
5 Years:	16%
3 Years:	27%
TTM:	28%

Compounded Profit Growth
10 Years:	16%
5 Years:	81%
3 Years:	113%
TTM:	51%

Stock Price CAGR
10 Years:	22%
5 Years:	60%
3 Years:	48%
1 Year:	44%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	69%

Balance Sheet

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	10	10	10	10	10	10	10	10	10	10	10	10
Reserves	-54	-65	-75	-2	-71	-64	-66	-74	-71	-24	-3	74
	58	69	76	25	104	103	109	91	111	110	86	12
	106	104	118	64	78	73	89	78	80	98	108	156
Total Liabilities	121	117	129	97	121	122	143	106	130	194	201	252
	13	11	12	8	7	8	23	20	17	17	15	12
CWIP	0	0	0	0	0	0	0	0	0	0	0	0
Investments	0	0	0	0	0	0	0	0	0	0	0	0
	107	106	117	88	114	113	120	86	113	178	186	240
Total Assets	121	117	129	97	121	122	143	106	130	194	201	252

Cash Flows

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-5	-8	-1	-23	-1	6	10	22	-18	10	32	-3
	-1	-1	-2	-1	-0	-4	-1	-0	-1	-1	-1	-0
	6	8	3	24	0	-3	-10	-21	18	-8	-28	-0
Net Cash Flow	-0	-1	-0	-0	-1	-1	-2	1	-1	1	3	-4

Ratios

Figures in Rs. Crores

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	203	176	150	75	104	81	91	98	67	50	45	37
Inventory Days	119	124	134	120	149	132	111	155	132	161	159	178
Days Payable	354	358	328	166	220	154	172	269	138	111	108	86
Cash Conversion Cycle	-31	-58	-44	29	33	59	30	-15	61	100	96	129
Working Capital Days	-21	-7	-11	39	61	62	53	35	56	71	68	79
ROCE %	-115%	-72%	-45%	-2%	25%	22%	2%	-14%	14%	48%	33%	49%

Shareholding Pattern

Numbers in percentages

	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%
	0.02%	0.02%	0.02%	0.37%	0.37%	0.37%	0.77%	0.77%	0.47%	0.22%	0.10%	0.11%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.15%	0.16%	0.01%	0.01%	0.01%
	25.04%	25.04%	25.03%	24.69%	24.69%	24.70%	24.29%	24.16%	24.44%	24.84%	24.96%	24.95%
No. of Shareholders	44,932	43,729	42,967	42,369	42,947	42,859	42,524	42,645	43,407	43,402	45,011	44,398

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%
	0.10%	0.13%	0.02%	0.02%	0.05%	0.02%	0.37%	0.77%	0.11%
	0.01%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.15%	0.01%
	24.95%	24.93%	25.04%	25.04%	25.01%	25.04%	24.69%	24.16%	24.95%
No. of Shareholders	62,709	44,346	42,285	41,376	40,597	45,692	42,369	42,645	44,398

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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