Timex Group India Ltd

Timex Group India Ltd

₹ 156 -2.35%
19 Jul 4:01 p.m.
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 which lasted until 1990. In 1990, co entered into a JV with Titan which ended in 2000.
Co got listed as a Public limited company in 1994. Timex Group is America’s Oldest Watchmaker, established in 1854 in Connecticut[1][2]

  • Market Cap 1,573 Cr.
  • Current Price 156
  • High / Low 203 / 113
  • Stock P/E 75.5
  • Book Value 8.05
  • Dividend Yield 0.00 %
  • ROCE 33.7 %
  • ROE 61.9 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company has delivered good profit growth of 22.6% CAGR over last 5 years

Cons

  • Stock is trading at 19.4 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

Sector: Consumer Durables Industry: Miscellaneous

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Quarterly Results

Figures in Rs. Crores

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
50.90 32.06 87.99 65.32 79.09 94.27 121.23 84.64 83.31 106.29 126.36 94.20 92.06
46.05 36.00 75.19 69.41 76.25 80.85 100.08 88.71 75.75 98.97 110.26 94.91 82.37
Operating Profit 4.85 -3.94 12.80 -4.09 2.84 13.42 21.15 -4.07 7.56 7.32 16.10 -0.71 9.69
OPM % 9.53% -12.29% 14.55% -6.26% 3.59% 14.24% 17.45% -4.81% 9.07% 6.89% 12.74% -0.75% 10.53%
0.30 0.03 0.03 0.30 0.72 0.26 0.02 0.01 0.04 0.37 0.57 0.35 1.48
Interest 0.38 0.48 0.55 0.41 0.46 0.77 1.42 1.72 1.21 1.13 1.07 0.75 0.88
Depreciation 0.89 0.89 0.93 0.90 0.85 0.90 0.94 0.91 0.85 0.89 0.90 0.88 0.91
Profit before tax 3.88 -5.28 11.35 -5.10 2.25 12.01 18.81 -6.69 5.54 5.67 14.70 -1.99 9.38
Tax % -2.58% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -304.15% 25.04% 25.17% -25.13% 24.52%
3.98 -5.28 11.35 -5.10 2.25 12.01 18.81 -6.69 22.39 4.25 11.00 -1.49 7.08
EPS in Rs 0.39 -0.52 1.12 -0.51 0.22 1.19 1.86 -0.66 2.22 0.42 1.09 -0.15 0.70
Raw PDF
Upcoming result date: 31 July 2024

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
121 124 142 173 200 207 242 252 141 264 383 419
160 153 150 176 199 197 230 248 144 256 345 387
Operating Profit -39 -29 -8 -3 2 11 11 4 -4 8 38 32
OPM % -32% -24% -6% -2% 1% 5% 5% 1% -3% 3% 10% 8%
0 0 2 -0 0 1 0 0 1 1 0 3
Interest 1 1 3 4 3 2 2 3 2 2 5 4
Depreciation 2 2 2 3 2 2 2 3 4 4 4 4
Profit before tax -42 -33 -11 -9 -3 8 8 -2 -8 3 30 28
Tax % 0% 0% 0% 0% 0% 0% 11% 0% -1% 0% -57% 25%
-42 -33 -11 -9 -3 8 7 -2 -8 3 47 21
EPS in Rs -4.16 -3.27 -1.09 -0.92 -0.32 0.74 0.74 -0.18 -0.79 0.32 4.61 2.06
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 13%
5 Years: 12%
3 Years: 44%
TTM: 9%
Compounded Profit Growth
10 Years: 10%
5 Years: 23%
3 Years: 66%
TTM: -55%
Stock Price CAGR
10 Years: 26%
5 Years: 32%
3 Years: 60%
1 Year: -4%
Return on Equity
10 Years: %
5 Years: %
3 Years: %
Last Year: 62%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 10 10 10 10 10 10 10 10 10 10 10 10
Reserves -21 -54 -65 -75 -2 -71 -64 -66 -74 -71 -24 71
51 58 69 76 25 104 103 109 91 111 110 10
92 106 104 118 64 78 73 89 78 80 98 110
Total Liabilities 133 121 117 129 97 121 122 143 106 130 194 201
15 13 11 12 8 7 8 23 20 17 17 15
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
118 107 106 117 88 114 113 120 86 113 178 186
Total Assets 133 121 117 129 97 121 122 143 106 130 194 201

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
7 -5 -8 -1 -23 -1 6 10 22 -18 10 32
-2 -1 -1 -2 -1 -0 -4 -1 -0 -1 -1 -1
-3 6 8 3 24 0 -3 -10 -21 18 -8 -28
Net Cash Flow 2 -0 -1 -0 -0 -1 -1 -2 1 -1 1 3

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 198 203 176 150 75 104 81 91 98 67 50 45
Inventory Days 173 119 124 134 120 149 132 111 155 132 161 159
Days Payable 305 354 358 328 166 220 154 172 269 138 111 108
Cash Conversion Cycle 67 -31 -58 -44 29 33 59 30 -15 61 100 96
Working Capital Days 54 -21 -7 -11 39 61 62 53 35 56 71 68
ROCE % -67% -115% -72% -45% -2% 25% 22% 2% -14% 14% 48% 34%

Shareholding Pattern

Numbers in percentages

Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
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% 0.02% 0.02% 0.02% 0.37% 0.37% 0.37% 0.77% 0.77% 0.47%
0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.15% 0.16%
25.04% 25.04% 25.04% 25.04% 25.04% 25.03% 24.69% 24.69% 24.70% 24.29% 24.16% 24.44%
No. of Shareholders 39,98342,72845,69244,93243,72942,96742,36942,94742,85942,52442,64543,407

* 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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Documents

Concalls