Timex Group India Ltd(TIMEX)

NSE: TIMEXBSE: 500414

₹ 593-6.58%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 5,986 crNext results: 3 Nov 2026Website: www.timexindia.comUpdated: 24 Oct 2026

About

Timex Group India Ltd designs, manufactures, and distributes watches across mass, mid, premium, and luxury price points under 15+ brands including Timex, Guess, Versace, Furla, and Ferragamo. The company operates a single manufacturing plant in Baddi, Himachal Pradesh, with an annual capacity of 6 million units in single-shift operation. It reported total income of Rs. 80,063 lacs in FY26, growing 48% year-on-year to its highest-ever annual revenue.^[1][2][3]

Business mix

Manufacturing of watches accounted for 63.25% of turnover in FY25; wholesale trading contributed 35.33%.^[1]
Exports contributed approximately 2.85% of total turnover in FY25, with sales into 7 international countries.^[1]
Watches account for 100% of the entity's turnover (NIC code 2652).^[1]

Brand portfolio

Portfolio spans Timex, Helix, TMX, Guess, Gc, Nautica, Furla, Ted Baker, Adidas Originals, Philipp Plein, Plein Sport, UNLTD., UCB, Versace, and Ferragamo.^[1]
Flagship Timex franchises are Marlin, Waterbury, and Q; the Q Timex 1979 Reissue sold out since its release.^[1]
Smart products are sold under iConnect by Timex and Timex Smart sub-brands, achieving high double-digit YoY growth in the smartwatch segment in FY25.^[1]
Timex Atelier Swiss-made collection (Marine M1a, GMT24 M1a) was launched in Q3 FY26 as a bridge-to-luxury offering.^[4]
Timex Signio, a new premium occasion-wear franchise for men with automatic, slim, and multifunction variants, was launched in FY26.^[2]
GUESS Jewelry was introduced in India in Q1 FY26 with the debut SS25 collection, marking the company's entry into jewelry.^[5][1]
Aston Martin watch collection was launched in India in Q3 FY26 via an invite-only trade and media preview.^[4]

Manufacturing

Single manufacturing facility located at Plot No-10, Baddi Industrial Area, Nalagarh, Solan, Himachal Pradesh.^[1]
Baddi plant capacity expanded to 6 million units in single-shift operation in FY26, up from approximately 4 million units produced in FY25.^[2]
The facility assembles Quartz Analog, Digital, Ana-Digi, Automatic, Intelligent Quartz, activity trackers, and connected smartwatches; holds SA 8000:2014 and ISO 45001:2018 certifications.^[1]
The company produced its highest-ever number of watches in a single quarter at Baddi in Q2 FY26.^[6]

Distribution and customers

Multi-brand distribution reached 5,025 touchpoints as of Q1 - Q3 FY26; large-format stores reached 372 points and defence canteen stores 675 points as of Q3 FY26.^[5][4]
Luxury retail distribution stood at 41 points as of Q3 FY26.^[4]
Sales channels include distributors, dealers, franchise EBOs, modern trade, defence, institutional, e-commerce, and brand webstore.^[1]
The trade channel - distribution, dealers, showrooms, and key accounts - remained the largest contributor to revenue in FY25.^[1]
The company serves as ODM/OEM partner for Lavie, Woodland, and Tata (for Flipkart and Myntra) for brands including Wrogn, Van Heusen, Allen Solly, and Peter England.^[1]

Key operating metrics

EBITDA margin (before exceptional items) expanded to 14.5% in FY26 from 9.2% in FY25; Q4 FY26 margin reached 17.4% vs 11.1% in Q4 FY25.^[2]
Advertising and sales promotion spend rose to Rs. 6,603 lacs in FY26 from Rs. 4,390 lacs in FY25.^[2]
Global design support is provided by the Timex Group Global Design Centre in Milan.^[1]

Recent developments

Promoter shareholding declined from 74.93% in December 2024 to 51.00% by December 2025; public and other shareholding rose to 46.49% with total shareholders reaching 64,649.^[4]
Timex Smart Halo, featuring AI Voice Assist and a Crystal Clear AMOLED display, was launched in Q3 FY26.^[4]
Guess launched its first-ever automatic watches in India in Q2 FY26 alongside the Timex x Superman Marlin Jet Automatic and iConnect Arc smartwatch.^[6]

Market Cap

₹5,986 Cr

High / Low

₹759 / 237

Stock P/E

69.8

Price / Book

53.8

Book Value

₹11

EPS

₹7.5

No. of Shares

10.1 Cr

ROCE

82.8%

ROE

77.3%

OPM

14.1%

Debt / Equity

0.27

Sales

₹799 Cr

Net Profit

₹75 Cr

Promoter holding

51.0%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials