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Results - Analysis
Stellar performance
Timex Group India
01-Aug-2025, 08:49
Net sales (including other operating income) of Timex Group India has increased 55.46% to Rs 168.94 crore. Timex, the flagship brand, delivered a powerful 77% year-on-year growth this quarter, reinforcing its leadership in the segment. Guess Watches showed strong resilience with a 33% growth over the same quarter last year. Versace recorded a notable growth of 18%, driven by rising demand for aspirational luxury watches. Other licensed brands Gc, Philipp Plein, Plein Sports, and Nautica, maintained solid momentum, delivering robust quarter-on-quarter performance with increasing traction across premium segments Operating profit margin has jumped from 3.90% to 12.81%, leading to 410.38% rise in operating profit to Rs 21.64 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 34.68% to 45.33%. Purchase of finished goods cost fell from 30.55% to 18.06%. Employee cost decreased from 9.47% to 7.00%. Other expenses fell from 22.19% to 18.83%. Other income fell 40.38% to Rs 0.31 crore. PBIDT rose 361.13% to Rs 21.95 crore. Provision for interest up 92.42% to Rs 1.27 crore. PBDT rose 404.39% to Rs 20.68 crore. Provision for depreciation down 4.71% to Rs 0.81 crore. Profit before tax grew 511.38% to Rs 19.87 crore. Provision for tax was expense of Rs 5.2 crore, compared to Rs 0.82 crore. Effective tax rate was 26.17% compared to 25.23%. Profit after tax rose 503.70% to Rs 14.67 crore. Promoters' stake was 59.93% as of 30 June 2025 ,compared to 74.93% as of 30 June 2024 .
Net sales (including other operating income) of Timex Group India has increased 55.46% to Rs 168.94 crore. Timex, the flagship brand, delivered a powerful 77% year-on-year growth this quarter, reinforcing its leadership in the segment. Guess Watches showed strong resilience with a 33% growth over the same quarter last year. Versace recorded a notable growth of 18%, driven by rising demand for aspirational luxury watches. Other licensed brands Gc, Philipp Plein, Plein Sports, and Nautica, maintained solid momentum, delivering robust quarter-on-quarter performance with increasing traction across premium segments Operating profit margin has jumped from 3.90% to 12.81%, leading to 410.38% rise in operating profit to Rs 21.64 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 34.68% to 45.33%. Purchase of finished goods cost fell from 30.55% to 18.06%. Employee cost decreased from 9.47% to 7.00%. Other expenses fell from 22.19% to 18.83%. Other income fell 40.38% to Rs 0.31 crore. PBIDT rose 361.13% to Rs 21.95 crore. Provision for interest up 92.42% to Rs 1.27 crore. PBDT rose 404.39% to Rs 20.68 crore. Provision for depreciation down 4.71% to Rs 0.81 crore. Profit before tax grew 511.38% to Rs 19.87 crore. Provision for tax was expense of Rs 5.2 crore, compared to Rs 0.82 crore. Effective tax rate was 26.17% compared to 25.23%. Profit after tax rose 503.70% to Rs 14.67 crore. Promoters' stake was 59.93% as of 30 June 2025 ,compared to 74.93% as of 30 June 2024 .
Expressing his delight Mr. Deepak Chhabra, Managing Director of Timex India said, 'What a phenomenal start to the year! Our flagship brand, Timex, has delivered its best-ever performance this quarter, a clear reflection of our sharp focus on premiumisation, product innovation, and expanding consumer access. Growth across all channels and brands has come together to create this strong momentum. With a growing slate of global collaborations and a robust omnichannel strategy, we're confident in accelerating this trajectory and further reinforcing Timex's leadership in India's dynamic watch market.'
Q1 FY26 Channel Performance
E-commerce posted a stellar 102% year-on-year growth, doubling its business and reaffirming TGIL's strong digital strategy Trade channel, the company's largest channel, posted an impressive 22% growth on top of a high base Other strategic verticals also made a meaningful impact, with the OEM business witnessing noteworthy gains of triple digit during the quarterFull year results analysis
Net sales (including other operating income) of Timex Group India has increased 28.45% to Rs 538.10 crore. Operating profit margin has jumped from 7.73% to 8.91%, leading to 48.02% rise in operating profit to Rs 47.96 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 34.85% to 31.86%. Purchase of finished goods cost rose from 24.79% to 27.77%. Employee cost decreased from 9.96% to 9.69%. Other expenses fell from 22.94% to 22.20%. Other income fell 37.91% to Rs 1.72 crore. PBIDT rose 41.26% to Rs 49.68 crore. Provision for interest fell 5.74% to Rs 3.61 crore. Loan funds rose to Rs 12.44 crore as of 31 March 2025 from Rs 9.83 crore as of 31 March 2024. Inventories rose to Rs 151.31 crore as of 31 March 2025 from Rs 106.25 crore as of 31 March 2024. Sundry debtors were higher at Rs 54.67 crore as of 31 March 2025 compared to Rs 51.14 crore as of 31 March 2024. Cash and bank balance declined from Rs 3.93 crore as of 31 March 2024 to Rs 0.02 crore as of 31 March 2025. PBDT rose 47% to Rs 46.07 crore. Provision for depreciation down 7.82% to Rs 3.3 crore. Fixed assets declined from Rs 14.51 crore as of 31 March 2024 to Rs 12.03 crore as of 31 March 2025. Intangible assets declined from Rs 0.38 crore to Rs 0.19 crore. Profit before tax grew 54.07% to Rs 42.77 crore. Provision for tax was expense of Rs 11.35 crore, compared to Rs 6.92 crore. Effective tax rate was 26.54% compared to 24.93%. Profit after tax rose 50.77% to Rs 31.42 crore. Promoters' stake was 74.93% as of 31 March 2025 ,compared to 74.93% as of 31 March 2024 . Cash flow from operating activities has turned negative Rs 3.15 crore for year ended March 2025 from positive Rs 32.48 crore for year ended March 2024. Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 0.90 crore, compared to Rs 1.51 crore during the year ended March 2024. The scrip is currently trading at Rs 245| Timex Group India : Standalone Results | ||||||
| Particulars | 2506 (03) | 2406 (03) | Var.(%) | 2503 (12) | 2403 (12) | Var.(%) |
| Net Sales (including other operating income) | 168.94 | 108.67 | 55 | 538.1 | 418.91 | 28 |
| OPM (%) | 12.8 | 3.9 | 8.9 | 7.7 | ||
| OP | 21.64 | 4.24 | 410 | 47.96 | 32.4 | 48 |
| Other Inc. | 0.31 | 0.52 | -40 | 1.72 | 2.77 | -38 |
| PBIDT | 21.95 | 4.76 | 361 | 49.68 | 35.17 | 41 |
| Interest | 1.27 | 0.66 | 92 | 3.61 | 3.83 | -6 |
| PBDT | 20.68 | 4.1 | 404 | 46.07 | 31.34 | 47 |
| Depreciation | 0.81 | 0.85 | -5 | 3.3 | 3.58 | -8 |
| PBT | 19.87 | 3.25 | 511 | 42.77 | 27.76 | 54 |
| PBT before EO | 19.87 | 3.25 | 511 | 42.77 | 27.76 | 54 |
| EO Income | 0 | 0 | - | 0 | 0 | - |
| PBT after EO | 19.87 | 3.25 | 511 | 42.77 | 27.76 | 54 |
| Taxation | 5.2 | 0.82 | 534 | 11.35 | 6.92 | 64 |
| PAT | 14.67 | 2.43 | 504 | 31.42 | 20.84 | 51 |
| EPS (Rs)* | # | # | 3.1 | 2.1 | ||
| Notes | ||||||
| * EPS is on current equity of Rs 10.10 crore, Face value of Rs 1, Excluding extraordinary items. | ||||||
| # EPS is not annualised | ||||||
| bps : Basis points | ||||||
| EO : Extraordinary items | ||||||
| Figures in Rs crore | ||||||
| Source: Capitaline Corporate Database | ||||||
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