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Timex Group India Ltd (TIMEX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500414 NSE: TIMEX Watches & Accessories | Small Cap | Timex Group India Share Price

₹435.80 1.90 (0.44%)

As on 04-Jun'26 16:59

Timex Group India Ltd (TIMEX)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 500414 NSE: TIMEX Watches & Accessories | Small Cap | Timex Group India Share Price

₹435.80 1.90 (0.44%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹4,399 Cr.
Current Price
₹435.8
52-Week Low / High
₹200 / 465
TTM EPS
₹7.5
TTM Sales
₹799 Cr.
Book Value per Share
₹11
P/E Ratio
58.32
In line with its 5-year historical median
Industry PE
51.7
Price to Book (P/B)
39.54
Higher than its 5-year historical median
Price to Sales (P/S)
5.51
Higher than its 5-year historical median
EV/EBITDA
37.84
Lower than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
196.31%
Outperforms industry median
Return on Capital Employed (ROCE)
46.24%
Outperforms industry median
Return on Assets (ROA)
14.44%
Operating Profit Margin
8.9%
Net Profit Margin
5.84%
Gross Profit Margin
7.4%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
28.45%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
48%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
50.77%
Asset Quality
Promoter Holding
51.00%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹101 Cr.
Equity
₹10.1 Cr.
Face Value
₹1
All Time Low / High
₹6.65 / 465.00

Timex Group India stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Overvalued

Price Trend

Weak
Q.1 Is Timex Group India Ltd a good quality company?
Timex Group India Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Timex Group India Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Timex Group India Ltd vs industry peers?
Timex Group India Ltd revenue CAGR is 16.39%, compared to the industry median CAGR of 15.40%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Timex Group India Ltd?
Promoters hold 51.00% of the Timex Group India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Timex Group India Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 26.9% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Timex Group India Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % -45.6%-1.8%25.3%21.5%2.3%-20.8%20.5%56.3%37.6%46.2%-
Value Creation
Index
NANA0.80.5NANA0.53.01.72.3-

Growth Parameters

Sales 173200207242252141264383419538799
Sales YoY Gr.-15.4%3.6%16.6%4.3%-44.1%87.7%45%9.3%28.5%-
Adj EPS -0.6-0.30.70.8-0.1-0.90.44.723.17.5
YoY Gr.-NANA14.3%-117.5%NANA1228.6%-57.4%55.6%-
BVPS (₹) -6.4-6.7-6-5.3-5.5-6.3-6-1.40.72.511
Adj Net
Profit
-6.2-3.37.18.1-1.4-8.73.5472031.175
Cash Flow from Ops. -1.4-23-0.86.49.522.4-17.79.832.5-3.2-
Debt/CF from Ops. -24.3-1.1-37.74.22.20.1-1.42.50.1-10.8-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 13.4%16.4%26.7%28.5%
Adj EPS NANA106.5%55.6%
BVPSNANANA273.1%
Share Price 30.8% 66.2% 40.8% 60.9%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
32.843.261.142.8-6.5-52.425123.528.237.6110.5
Op. Profit
Mgn %
0.90.85.151.7-2.53.210.27.88.914.3
Net Profit
Mgn %
-3.6-1.73.43.3-0.6-6.21.312.34.85.89.5
Debt to
Equity
-1.53.21.91.210.21.50.400.40.3
Working Cap
Days
24118714814914726512211412611959
Cash Conv.
Cycle
2222192329472241485327

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales173200207242252141264383419538
Operating Expenses + 176199197230248144256345386490
Manufacturing Costs22223234325
Material Costs9311211012614078148218244310
Employee Cost 22242629312638464355
Other Costs 596159737438687896100
Operating Profit -3211114-48383248
Operating Profit Margin (%) -1.6%0.8%5.1%4.7%1.4%-2.5%3.1%10.0%7.7%8.9%
Other Income + 0010011032
Exceptional Items 0000000000
Interest 4322322544
Depreciation 3222344443
Profit Before Tax -9-388-2-83302843
Tax 00010-00-17711
Profit After Tax -9-387-2-83472131
PAT Margin (%) -5.4%-1.6%3.6%3.1%-0.7%-5.7%1.2%12.1%5.0%5.8%
Adjusted EPS (₹)-0.9-0.30.70.7-0.2-0.80.34.62.13.1
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Timex Group India - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + -2381522211316618184
Share Capital 51868686868686858569
Reserves -75-78-71-64-66-74-71-24-315
Debt +342528272032425234
Long Term Debt00000002229
Short Term Debt34252827203242305
Minority Interest0000000000
Trade Payables84516753665856666973
Others Liabilities 43131119363335263953
Total Liabilities 13797121122143106130177191244

Fixed Assets

Net Fixed Assets +12878232017171512
Gross Block27101112272825252425
Accumulated Depreciation1523458781013
CWIP 0000000000
Investments 0000000000
Inventories3437454543335496106151
Trade Receivables71415954633849525155
Cash Equivalents 4432010140
Others Assets 166612151311111526
Total Assets 13797121122143106130177191244

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + -1-23-161022-181032-3
PBT -9-388-2-83302843
Adjustment 10534945965
Changes in Working Capital -2-24-12-6326-26-29-1-44
Tax Paid -0-0-00-00-0-0-0-8
Cash Flow From Investing Activity + -2-1-0-4-1-0-1-1-1-0
Capex -2-1-1-4-2-0-1-1-1-1
Net Investments 0000000000
Others 0000000000
Cash Flow From Financing Activity + 3240-3-10-2118-8-28-0
Net Proceeds from Shares 03500000000
Net Proceeds from Borrowing 0000000000
Interest Paid -4-2-3-2-2-1-1-4-3-1
Dividend Paid 0000000000
Others 7-93-1-8-2019-3-260
Net Cash Flow -0-0-1-1-21-113-4

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)N/A00000000196.31
ROCE (%)N/A-1.7725.2721.482.32-20.7920.4856.2937.6246.24
Asset Turnover Ratio1.331.712.212.232.181.132.512.822.612.85
PAT to CFO Conversion(x)N/AN/A-0.130.86N/AN/A-60.211.52-0.1
Working Capital Days
Receivable Days145.80102.507675.8073.70130.4053.4042.4039.3031.20
Inventory Days61.8064.506260.9055.8098.2053.5062.8076.7075.80
Payable Days306.80219.40194.40173.70155.10288.40140.10102.40101.2083.80

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Timex Group India Ltd FAQs

The current trading price of Timex Group India on 04-Jun-2026 16:59 is ₹435.8.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Timex Group India stood at ₹4,399.4 Cr

The latest P/E ratio of Timex Group India as of 03-Jun-2026 is 58.32.

The latest P/B ratio of Timex Group India as of 03-Jun-2026 is 39.54.

The 52-week high of Timex Group India is ₹465.0 and the 52-week low is ₹200.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Timex Group India is ₹799 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Timex Group India Ltd is a average quality company.

The key valuation ratios of Timex Group India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Timex Group India Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Timex Group India Ltd

The Timex Group India was incorporated in 1988 as a joint venture between Timex Corporation USA and Titan Watches (a Tata company) to manufacture watches.

Timex Group designs manufactures and markets innovative timepieces and jewelry globally. Timex, founded in 1854, has expanded to become Timex Group, with numerous brands and over 5,000 employees worldwide. For over 150 years, Timex has been providing innovative, well-designed and reliable timepieces with hundreds of styles among its Fashion, Sports and Outdoor lines and has sold more than one-billion watches.

One of the largest watch makers in the world, the Timex Group companies market global brands including Timex, Versace, Valentino, Salvatore Ferragamo, Guess, GC, Vincent Berard, Versus, TX, Marc Ecko, Nautica and Opex. Timex Group is privately held.

Timex Group’s businesses and exclusive worldwide licenses include Timex Business Unit (Timex, Timex Ironman, Opex); Timex Group Luxury Watches (Valentino Timeless, Salvatore Ferragamo Timepieces); Sequel (Guess, Gc); Vertime (Versace, Versus); Vincent Bérard; and Callanen International (TX, Nautica, Marc Ecko).Timex Group’s vast supply chain network produces and distributes quality timepieces and jewelry through multiple locations across the globe. An extensive network and close partnership with leading logistics service providers allow us to support the global requirements of our brands and customers.

The wide-ranging capabilities of Timex Group’s manufacturing and distribution are underpinned by years of experience in producing mechanical timepieces combined with the latest innovations in performance and electronics technology. In-house manufacturing includes precision watch parts and movements, assembly and distribution. Timely fulfillment of all production is ensured through extensive planning and scheduling systems augmented with the latest in process and quality controls.

Timex Group built its reputation as the pioneer in timekeeping and jewelry by harnessing the power and possibility of time. From the first clock and wristwatch we produced through data integration - from classic, time-honored designs through exclusive, luxury collector's pieces -- Timex Group continues to deliver unparalleled quality to a highly diverse and global customer.

Milan to Hong Kong, design sensibility and creativity inspire multiple lifestyle brands. From the hallmark everyday watches on which we built our reputation, to the exclusive, high-end offerings in our portfolio today, we are equipped to meet the needs of our brand partners.

Designer Giorgio Galli and his Milan-based company have built an international presence and outstanding reputation as a leader in the field of modern timekeeping and jewelry design. The Giorgio Galli Design Lab has been creating elaborate watches for Timex Group for over a decade. In July 2007, Timex Group purchased the Giorgio Galli Design Lab.

Timex established it’s state-of-the-art precision Tool room and Injection molding facility in 1992 for manufacturing of precision plastics parts to support the watch business. The Toolroom and Injection moulding facility was commercialized in the year 1998 and has been renamed as Timex Group Precision Engineering Limited .

By leveraging 15 years of experience, the Precision Engineering Division of Timex has established itself as one of the leading commercial Toolrooms in the country.

In 2006 Timex Brand Ambassador Brett Lee unveiled the 'new look' Timex.

Timex Group's unwavering commitment to corporate social responsibility is an integral part of our core values. Its CSR stated mission is to identify, track and address responsibly the social, environmental and economic impact of our business globally.

Product range of the company includes :

  • Men’s collection- SLX Series, Retrogrades, Perpetual Calandar, Chronographs, Fashion, Outdoor, Sports, Fitness and Advanced, Empera, Formals, World Time.
  • Women’s collection- Fashion, Empera, Formals.
  • Pair collection- Fashion, Empera, Formals.
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