Timex Group India
Quarter ended March 2026 compared with Quarter ended March 2025.
Net sales (including other operating income) of Timex Group India has increased 73.69% to Rs 235.20 crore.??Operating profit margin has jumped from 10.62% to 17.16%, leading to 180.74% rise in operating profit to Rs 40.37 crore.??Raw material cost as a % of total sales (net of stock adjustments) increased from 33.74% to 35.79%. ??Purchase of finished goods cost fell from 26.71% to 24.34%. ??Employee cost decreased from 8.75% to 5.74%. ??Other expenses fell from 21.25% to 18.43%. ??
Other income fell 10% to Rs 0.63 crore.??PBIDT rose 171.88% to Rs 41 crore.??Provision for interest up 17.60% to Rs 1.47 crore.??Loan funds declined from Rs 12.44 crore as of 31 March 2025 to Rs 6.03 crore as of 31 March 2026.??Inventories rose to Rs 196.93 crore as of 31 March 2026 from Rs 151.31 crore as of 31 March 2025.??Sundry debtors were higher at Rs 58.16 crore as of 31 March 2026 compared to Rs 54.67 crore as of 31 March 2025.??Cash and bank balance rose to Rs 33.97 crore as of 31 March 2026 from Rs 0.02 crore as of 31 March 2025.??
PBDT rose 185.83% to Rs 39.53 crore.??Provision for depreciation rose 7.59% to Rs 0.85 crore.??Fixed assets declined from Rs 12.03 crore as of 31 March 2025 to Rs 11.39 crore as of 31 March 2026.??Intangible assets declined from Rs 0.19 crore to Rs 0.12 crore.??
Profit before tax grew 196.63% to Rs 38.68 crore.??Provision for tax was expense of Rs 9.24 crore, compared to Rs 3.8 crore.??Effective tax rate was 25.26% compared to 29.14%.
Profit after tax rose 195.89% to Rs 27.34 crore.??
Equity capital stood at Rs 10.10 crore as of 31 March 2026 to Rs 10.10 crore as of 31 March 2025.??Per share face Value remained same at Rs 1.00.??
Promoters? stake was 51.00% as of 31 March 2026 ,compared to 74.93% as of 31 March 2025 .??
Full year results analysis
Net sales (including other operating income) of Timex Group India has increased 48.41% to Rs 798.59 crore.??Operating profit margin has jumped from 8.91% to 14.29%, leading to 137.91% rise in operating profit to Rs 114.10 crore.??Raw material cost as a % of total sales (net of stock adjustments) increased from 31.86% to 35.51%. ??Purchase of finished goods cost fell from 27.77% to 22.90%. ??Employee cost decreased from 9.69% to 7.38%. ??Other expenses fell from 22.20% to 20.45%. ??
Other income up 18.60% to Rs 2.04 crore.??PBIDT rose 133.78% to Rs 116.14 crore.??Provision for interest up 52.08% to Rs 5.49 crore.??Loan funds declined from Rs 12.44 crore as of 31 March 2025 to Rs 6.03 crore as of 31 March 2026.??Inventories rose to Rs 196.93 crore as of 31 March 2026 from Rs 151.31 crore as of 31 March 2025.??Sundry debtors were higher at Rs 58.16 crore as of 31 March 2026 compared to Rs 54.67 crore as of 31 March 2025.??Cash and bank balance rose to Rs 33.97 crore as of 31 March 2026 from Rs 0.02 crore as of 31 March 2025.??
PBDT rose 140.18% to Rs 110.65 crore.??Provision for depreciation rose 3.03% to Rs 3.4 crore.??Fixed assets declined from Rs 12.03 crore as of 31 March 2025 to Rs 11.39 crore as of 31 March 2026.??Intangible assets declined from Rs 0.19 crore to Rs 0.12 crore.??
Profit before tax grew 150.76% to Rs 107.25 crore.??Provision for tax was expense of Rs 26.5 crore, compared to Rs 11.35 crore.??Effective tax rate was 26.00% compared to 26.54%.
Profit after tax rose 140.10% to Rs 75.44 crore.??
Equity capital stood at Rs 10.10 crore as of 31 March 2026 to Rs 10.10 crore as of 31 March 2025.??Per share face Value remained same at Rs 1.00.??
Promoters? stake was 51.00% as of 31 March 2026 ,compared to 74.93% as of 31 March 2025 .??
Business Highlights
The Board recommended preference dividend of Rs. 0.009 per share on 0.09% non-cumulative redeemable non-convertible preference shares, Rs. 0.5 per share on 5% cumulative redeemable non-convertible preference shares and Rs. 1.075 per share on 10.75% cumulative redeemable non-convertible preference shares, subject to shareholders? approval at the ensuing AGM. The dividend, once approved, will be paid within 30 days from the date of declaration.
In FY26, Timex the core brand had substantial 62% rise YoY with continued focus on design led innovation, robust consumer demand, strategic channel development, manufacturing scale-up, and strengthening consumer relevance across lifestyle and fashion ecosystems.
In FY26, Guess reported a growth of 51% YoY, emerging as the second leading non-luxury fashion watch brand in the market. Versace delivered a strong 48% growth YoY, signifying consistent growing traction in luxury segments. In FY26, the Ecomm channel, recorded 90% YoY growth. In Q4 FY26, Ecomm channel grew 158% YoY supported by presence across leading marketplaces and quick commerce platforms. In Q4 FY26, trade channel maintained consistent growth of 52% YoY, reflecting sustained retailer confidence and healthy consumer demand. The retail channel delivered 112% YoY growth.Management Comments :
Mr. Deepak Chhabra, Managing Director, Timex Group India, said, ?FY25?26 has been a landmark phase for Timex Group India. Over the last four years, we haven?t just grown, we?ve fundamentally reshaped the business. We are witnessing strong traction across the fashion, and luxury watch segments, driven by rising consumer aspiration and demand across markets. As we move forward, our focus is clear: aggressively expanding our portfolio, sharpening our brand mix, scaling manufacturing capabilities, and building deeper consumer relevance through design, innovation, and cultural connect. The objective is not just faster growth, but sustainable, high-quality progress that strengthens Timex?s position in the quickly evolving Indian watch market.?
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