Timex Group India Ltd
₹ 754
0.18%
12 Nov
9:45 a.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
- Market Cap ₹ 7,611 Cr.
- Current Price ₹ 754
- High / Low ₹ 768 / 237
- Stock P/E 71.8
- Book Value ₹ 16.8
- Dividend Yield 0.00 %
- ROCE 82.8 %
- ROE 158 %
- Face Value ₹ 1.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 64.1% CAGR over last 5 years
- Debtor days have improved from 36.1 to 26.6 days.
- Company's working capital requirements have reduced from 63.2 days to 48.9 days
Cons
- Stock is trading at 44.7 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last 3 years: -23.9%
* 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.
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Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 142 | 173 | 200 | 207 | 242 | 252 | 141 | 264 | 383 | 419 | 538 | 799 | 963 | |
| Sales growth | +15% | +22% | +15% | +4% | +17% | +4% | -44% | +88% | +45% | +9% | +28% | +48% | +44% |
| 150 | 176 | 199 | 197 | 230 | 248 | 144 | 256 | 345 | 386 | 490 | 684 | 813 | |
| Operating Profit | -8 | -3 | 2 | 11 | 11 | 4 | -4 | 8 | 38 | 32 | 48 | 114 | 149 |
| OPM % | -6% | -1.6% | 0.8% | 5% | 4.7% | 1.4% | -2.5% | 3.1% | 10% | 8% | 9% | 14% | 16% |
| 2 | -0 | 0 | 1 | 0 | 0 | 1 | 1 | 0 | 3 | 2 | -3 | -2 | |
| Interest | 3 | 4 | 3 | 2 | 2 | 3 | 2 | 2 | 5 | 4 | 4 | 6 | 5 |
| Depreciation | 2 | 3 | 2 | 2 | 2 | 3 | 4 | 4 | 4 | 4 | 3 | 3 | 4 |
| Profit before tax | -11 | -9 | -3 | 8 | 8 | -2 | -8 | 3 | 30 | 28 | 43 | 102 | 138 |
| Tax % | 0% | 0% | 0% | 0% | 11% | 0% | -1% | 0% | -57% | 25% | 27% | 26% | |
| -11 | -9 | -3 | 8 | 7 | -2 | -8 | 3 | 47 | 21 | 31 | 75 | 103 | |
| EPS in Rs | -1.09 | -0.92 | -0.32 | 0.74 | 0.74 | -0.18 | -0.79 | 0.32 | 4.61 | 2.06 | 3.11 | 7.47 | 10.18 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 17% |
| 5 Years: | 41% |
| 3 Years: | 28% |
| TTM: | 44% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 27% |
| 5 Years: | 64% |
| 3 Years: | 19% |
| TTM: | 89% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 30% |
| 5 Years: | 55% |
| 3 Years: | 60% |
| 1 Year: | 96% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| Last Year: | 158% |
Balance Sheet
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 |
| Reserves | -65 | -75 | -2 | -71 | -64 | -66 | -74 | -71 | -24 | -3 | 15 | 65 | 160 |
| 69 | 76 | 25 | 104 | 103 | 109 | 91 | 111 | 110 | 86 | 101 | 71 | 7 | |
| 104 | 118 | 64 | 78 | 73 | 89 | 78 | 80 | 98 | 108 | 126 | 191 | 434 | |
| Total Liabilities | 117 | 129 | 97 | 121 | 122 | 143 | 106 | 130 | 194 | 201 | 252 | 338 | 611 |
| 11 | 12 | 8 | 7 | 8 | 23 | 20 | 17 | 17 | 15 | 12 | 11 | 13 | |
| CWIP | 0 | 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 | 0 |
| 106 | 117 | 88 | 114 | 113 | 120 | 86 | 113 | 178 | 186 | 240 | 326 | 598 | |
| Total Assets | 117 | 129 | 97 | 121 | 122 | 143 | 106 | 130 | 194 | 201 | 252 | 338 | 611 |
Cash Flows
Figures in Rs. Crores
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -8 | -1 | -23 | -1 | 6 | 10 | 22 | -18 | 10 | 32 | -3 | 91 | |
| -1 | -2 | -1 | -0 | -4 | -1 | -0 | -1 | -1 | -1 | -0 | -1 | |
| 8 | 3 | 24 | 0 | -3 | -10 | -21 | 18 | -8 | -28 | -0 | -56 | |
| Net Cash Flow | -1 | -0 | -0 | -1 | -1 | -2 | 1 | -1 | 1 | 3 | -4 | 34 |
| Free Cash Flow | -9 | -4 | -24 | -1 | 2 | 8 | 22 | -19 | 8 | 31 | -4 | 89 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 101% | 50% | -1,484% | -7% | 56% | 264% | -618% | -217% | 26% | 101% | 10% | 104% |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 176 | 150 | 75 | 104 | 81 | 91 | 98 | 67 | 50 | 45 | 37 | 27 |
| Inventory Days | 124 | 134 | 120 | 149 | 132 | 111 | 155 | 132 | 161 | 159 | 178 | 158 |
| Days Payable | 358 | 328 | 166 | 220 | 154 | 172 | 269 | 138 | 111 | 104 | 86 | 97 |
| Cash Conversion Cycle | -58 | -44 | 29 | 33 | 59 | 30 | -15 | 61 | 100 | 100 | 129 | 88 |
| Working Capital Days | -78 | -83 | -7 | 12 | 21 | 22 | 24 | 22 | 47 | 66 | 74 | 49 |
| ROCE % | -72% | -45% | -2% | 25% | 22% | 2% | -14% | 14% | 48% | 33% | 43% | 83% |
Insights
In beta| May 2022 | May 2023 | May 2024 | May 2025 | May 2026 | |
|---|---|---|---|---|---|
| Baddi Plant Production Capacity Million Units (Single-Shift) |
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| Authorized Service Centres Count |
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| Baddi Plant Production Volume Million Units (Annual) |
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| Defence Canteen Outlets Count |
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| Large Format Stores Count |
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| Luxury Retail Doors Count |
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| Multi Brand Outlets (Doors) Count |
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| Timex World Showrooms (Retail) Count |
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Documents
Announcements
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
- Please find attached the Transcript of Earning call held on November 4, 2026 .
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Announcement under Regulation 30 (LODR)-Newspaper Publication
- Please find attached the copies of Newspaper Advertisement regarding Un-audited Financial Results of the Company for the quarter and six months ended on September 30, …
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
- Audio recording of November 4, 2026 earnings call for Q2 and half-year FY2026 available online.
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Announcement under Regulation 30 (LODR)-Appointment of Statutory Auditor/s
- Timex Group India appoints B S R & Co. LLP as statutory auditor for 2027-2032, subject to approval.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Timex Group India reported Q2 FY26-27 revenue of ₹359 crore and PBT of ₹64 crore, both record highs.
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2012
from bse
Concalls
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Nov 2026Transcript PPT REC
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Jul 2026PPT
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May 2026PPT
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Feb 2026PPT
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Nov 2025PPT
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Jul 2025PPT
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May 2025PPT
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Jan 2025PPT
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Oct 2024PPT
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Jul 2024PPT
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May 2024PPT
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Feb 2024PPT
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Nov 2023PPT
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Aug 2023PPT
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May 2023PPT
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Feb 2023PPT
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Nov 2022PPT
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Aug 2022PPT
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May 2022PPT
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Feb 2022PPT
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Oct 2021PPT
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Aug 2021PPT
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Jun 2021PPT
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Feb 2021PPT
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Oct 2020PPT
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Aug 2020PPT
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Jun 2020PPT
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Jan 2020PPT
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Nov 2019PPT
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Aug 2019PPT
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May 2019PPT
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Feb 2019PPT
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Nov 2018PPT
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]