5
Timex Group
TIMEX NSE
Timex Group
Consumer GoodsNSE: TIMEX BSE: 500414 Jewellery & Watches
Key Fundamentals
MicrocapJewellery & WatchesConsumer GoodsMarket Cap
₹6,277 Cr
Volatility
Moderate
P/E Ratio
74.32
EBITDA
₹116 Cr
Return on Equity
67.79%
Debt to Equity
0.95
Book Value
₹7.47
52W High
₹687.8
52W Low
₹312
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
5- Company has reduced debt.
- 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
Weaknesses
4- Stock is trading at 84.6 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company might be capitalizing the interest cost
- Promoter holding has decreased over last 3 years: -23.9%
Growth Rate
Revenue Growth
48.31% higher than
3Y
Net Income Growth
140% higher than
3Y
Cash Flow Change
—
ROE
81.26% higher than
3Y
ROCE
86.15% lower than
3Y
EBITDA Margin (Avg.)
57.72% lower than
3Y
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 69d agoAI opinion · based on fundamentals
Risk high
Timex Group India Ltd has a market cap of ₹5,451 Cr and trades at a PE of 70.3x with a price-to-book of 47.65x. The company has delivered strong profit growth of 81% CAGR over 5 years and TTM sales growth of 41%, but pays no dividend and has seen promoter holding decline by 8.93% in the last quarter.
Bull Case 7
- Compounded profit growth of 81% CAGR over 5 years indicates strong earnings momentum
- TTM sales growth of 41% shows accelerating revenue trajectory compared to 5-year CAGR of 16%
- Last year ROE of 197% reflects exceptionally high return on equity capital
- Stock CAGR of 56% over 5 years demonstrates sustained wealth creation for shareholders
- Company has reduced debt, improving balance sheet strength and financial flexibility
- Compounded profit growth of 103% on TTM basis suggests continued earnings acceleration
- 10-year compounded sales CAGR of 14% shows long-term consistency in revenue expansion
Bear Case 8
- PE ratio of 70.3x is significantly elevated relative to broader market averages, pricing in high future expectations
- Price-to-book of 47.65x (or 23.7x by alternate measure) implies extreme premium over asset value
- Zero dividend yield despite repeated profitability suggests no shareholder return via payouts
- Promoter holding decreased by 8.93% in the last quarter, signaling potential lack of promoter confidence
- 52-week high and low data unavailable (reported as 0), limiting visibility on recent price range and volatility
- ROE, ROCE, EPS, and debt-to-equity data unavailable for multi-year periods, reducing analytical clarity
- 10-year compounded profit CAGR of only 16% versus recent 81% over 5 years raises questions about sustainability of recent growth acceleration
- Market cap of ₹5,451 Cr on a small-cap company with limited historical profitability track record increases valuation risk
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 69d ago Neutral 1
- Analyst meet scheduled June 30 Jun 22
Timex Group India will host an investor/analyst meeting on June 30, 2026 at its Noida office and via Microsoft Teams.
TL;DR: Limited recent news flow for Timex Group India. The company is engaging with analysts via an upcoming meet on June 30, which may provide forward guidance. No clear headwinds or positive catalysts are visible from current coverage, leaving the near-term outlook data-dependent on what emerges from the analyst session.
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 106 | 126 | 94 | 92 | 109 | 174 | 120 | 135 | 169 | 244 | 151 | 235 | 219 |
| Expenses | 99 | 110 | 95 | 82 | 104 | 149 | 116 | 121 | 147 | 201 | 141 | 195 | 184 |
| Operating Profit | 7 | 16 | -1 | 10 | 4 | 25 | 4 | 14 | 22 | 43 | 10 | 40 | 35 |
| OPM % | 7% | 13% | -0.8% | 11% | 3.9% | 14% | 3.5% | 11% | 13% | 17% | 6% | 17% | 16% |
| Other Income | 0 | 1 | 0 | 1 | 1 | 0 | 0 | 1 | 0 | 0 | -2 | -1 | 1 |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| PBT | 6 | 15 | -2 | 9 | 3 | 24 | 3 | 13 | 20 | 41 | 5 | 37 | 34 |
| Tax % | 25% | 25% | -25% | 25% | 25% | 25% | 26% | 29% | 26% | 26% | 33% | 25% | 26% |
| Net Profit | 4 | 11 | -1 | 7 | 2 | 18 | 2 | 9 | 15 | 30 | 3 | 27 | 25 |
| EPS in Rs | 0.42 | 1.09 | -0.15 | 0.7 | 0.24 | 1.76 | 0.19 | 0.92 | 1.45 | 2.99 | 0.32 | 2.71 | 2.48 |
Profit & Loss
| Particulars | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 142 | 173 | 200 | 207 | 242 | 252 | 141 | 264 | 383 | 419 | 538 | 799 | 849 |
| Expenses | 150 | 176 | 199 | 197 | 230 | 248 | 144 | 256 | 345 | 386 | 490 | 684 | 721 |
| Operating Profit | -8 | -3 | 2 | 11 | 11 | 4 | -4 | 8 | 38 | 32 | 48 | 114 | 128 |
| OPM % | -6% | -1.6% | 0.8% | 5% | 4.7% | 1.4% | -2.5% | 3.1% | 10% | 8% | 9% | 14% | 15% |
| Other Income | 2 | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 0 | 3 | 2 | -3 | -3 |
| 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 |
| PBT | -11 | -9 | -3 | 8 | 8 | -2 | -8 | 3 | 30 | 28 | 43 | 102 | 116 |
| Tax % | 0% | 0% | 0% | 0% | 11% | 0% | -1% | 0% | -57% | 25% | 27% | 26% | — |
| Net Profit | -11 | -9 | -3 | 8 | 7 | -2 | -8 | 3 | 47 | 21 | 31 | 75 | 86 |
| 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 | 8.5 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 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 |
| Borrowings | 69 | 76 | 25 | 104 | 103 | 109 | 91 | 111 | 110 | 86 | 101 | 71 |
| Other Liabilities | 104 | 118 | 64 | 78 | 73 | 89 | 78 | 80 | 98 | 108 | 126 | 191 |
| Total Liabilities | 117 | 129 | 97 | 121 | 122 | 143 | 106 | 130 | 194 | 201 | 252 | 338 |
| Fixed Assets | 11 | 12 | 8 | 7 | 8 | 23 | 20 | 17 | 17 | 15 | 12 | 11 |
| 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 |
| Other Assets | 106 | 117 | 88 | 114 | 113 | 120 | 86 | 113 | 178 | 186 | 240 | 326 |
| Total Assets | 117 | 129 | 97 | 121 | 122 | 143 | 106 | 130 | 194 | 201 | 252 | 338 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -8 | -1 | -23 | -1 | 6 | 10 | 22 | -18 | 10 | 32 | -3 | 91 |
| Investing | -1 | -2 | -1 | 0 | -4 | -1 | 0 | -1 | -1 | -1 | 0 | -1 |
| Financing | 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/OP | 101 | 50 | -1,484 | -7 | 56 | 264 | -618 | -217 | 26 | 101 | 10 | 104 |
Ratios
| Particulars | 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
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view Timex Group insights
34 extracted metrics + investor summaries across FY13–FY26.
Documents
1
Announcement under Regulation 30 (LODR)-Change in Management
30 Apr - Mr. Sanjeev Kumar Swain resigned as VP-Sales, Offline Channels on April 30, 2026. 30 Apr - Mr. Sanjeev Kumar Swain resigned as VP-Sales, Offline Channels on April 30, 2026.
2
Announcement under Regulation 30 (LODR)-Change in Management
30 Apr - Mr. Sanjeev Kumar Swain resigned as VP-Sales, Offline Channels on April 30, 2026. 30 Apr - Mr. Sanjeev Kumar Swain resigned as VP-Sales, Offline Channels on April 30, 2026.
3
Intimation Under Regulation 30 Of The SEBI (LODR)Regulations, 2015
20 Apr - Timex Group shares permitted to trade on NSE from April 20, 2026. 20 Apr - Timex Group shares permitted to trade on NSE from April 20, 2026.
4
Intimation Under Regulation 30 Of The SEBI (LODR)Regulations, 2015
20 Apr - Timex Group shares permitted to trade on NSE from April 20, 2026. 20 Apr - Timex Group shares permitted to trade on NSE from April 20, 2026.
5
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Apr - Confirmation certificate received from Registrar and Share Transfer Agent(RTA) of the Company. 7 Apr - Confirmation certificate received from Registrar and Share Transfer Agent(RTA) of the Company.
Frequently Asked Questions about Timex Group
What does Timex Group India Ltd do?
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 Compa...
Where is Timex Group India Ltd (500414) listed?
Timex Group India Ltd trades as TIMEX on the NSE and under code 500414 on the BSE.
Which sector does Timex Group India Ltd belong to?
Timex Group India Ltd is classified under the Consumer Goods sector, in the Jewellery & Watches industry.
What is the market capitalisation of Timex Group India Ltd?
Timex Group India Ltd has a market capitalisation of ₹6,277 Cr, which places it in the Mid Cap band.
What is the PE ratio of Timex Group India Ltd?
Timex Group India Ltd trades at a PE ratio of 74.32, against a book value of ₹7.47 per share.
What is the 52-week high and low of Timex Group India Ltd?
Over the last 52 weeks Timex Group India Ltd has traded between ₹312 and ₹687.8.
What is the Return on Equity (ROE) of Timex Group India Ltd?
Timex Group India Ltd reported a return on equity of 67.79%. Its debt-to-equity ratio is 0.95.
Company Information
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]
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