Timex Group India Ltd - Stock Valuation and Financial Performance

BSE: 500414 | NSE: TIMEXWATCH | Watches & Accessories | Small Cap

Timex Group India Share Price

138.05 -2.10 -1.50%
as on 19-Mar'24 09:44

DeciZen - make an informed investing decision on Timex Group India

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Timex Group India stock performance -

mw4me loader
P/E Ratio (SA):
39.14
Market Cap:
1,414.8 Cr.
52-wk low:
119.8
52-wk high:
203

Is Timex Group India Ltd an attractive stock to invest in?

1. Is Timex Group India Ltd a good quality company?

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

2. Is Timex Group India Ltd undervalued or overvalued?

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.

3. Is Timex Group India Ltd a good buy now?

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.

10 Year X-Ray of Timex Group India:

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

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % -101.1%-68.1%-29.3%-6%22.5%19.8%1.3%-25.3%18.9%81.5%-
Value Creation
Index
NANANANA0.60.4NANA0.44.8-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 124142173200207242252141264383410
Sales YoY Gr.-15.2%21.8%15.4%3.6%16.6%4.3%-44.1%87.7%45%-
Adj EPS -2.9-1.1-0.6-0.30.70.8-0.1-0.90.44.73.6
YoY Gr.-NANANANA14.3%-117.5%NANA1228.6%-
BVPS (₹) -4.3-5.5-6.4-6.7-6-5.3-5.5-6.3-6-1.47.4
Adj Net
Profit
-28.8-11.4-6.2-3.37.18.1-1.4-8.73.54736
Cash Flow from Ops. -4.8-8.1-1.4-23-0.86.49.522.4-17.79.8-
Debt/CF from Ops. -3.6-3.4-24.3-1.1-37.74.22.20.1-1.42.5-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 13.4%13.1%15%45%
Adj EPS NA46%NA1228.6%
BVPSNANANANA
Share Price 30.5% 21.7% 66.3% 11.9%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
-206.3136.832.843.261.142.8-6.5-52.425123.5119.7
Op. Profit
Mgn %
-19.1-4.80.90.85.151.7-2.53.210.27.4
Net Profit
Mgn %
-23.3-8-3.6-1.73.43.3-0.6-6.21.312.38.8
Debt to
Equity
-6.8-2-1.53.21.91.210.21.50.4-
Working Cap
Days
33327823918517014914626512211475
Cash Conv.
Cycle
7034212239232947224127

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 119.70%

Sales growth is growing at healthy rate in last 3 years 15.03%

Debt to equity has declined versus last 3 years average to 0.41

Net Profit has been subdued in last 3 years 0.00%

Sales growth is not so good in last 4 quarters at 8.40%

Latest Financials - Timex Group India Ltd.

Standalone Consolidated
TTM EPS (₹) 3.6 -
TTM Sales (₹ Cr.) 410 -
BVPS (₹.) 7.4 -
Reserves (₹ Cr.) 64 -
P/BV 19.05 -
PE 39.14 -
From the Market
52 Week Low / High (₹) 119.80 / 203.00
All Time Low / High (₹) 6.65 / 203.00
Market Cap (₹ Cr.) 1,415
Equity (₹ Cr.) 10.1
Face Value (₹) 1
Industry PE 48

Management X-Ray of Timex Group India:

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 (%)

Event Update

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Analyst's Notes

Key Ratios of Timex Group India

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales124142173200207242252141264383
Operating Expenses 153150176199197230248144256345
Manufacturing Costs1122223234
Material Costs75749311211012614078148218
Employee Cost 21222224262931263846
Other Costs 56525961597374386878
Operating Profit -30-8-3211114-4838
Operating Profit Margin (%) -23.9%-5.6%-1.6%0.8%5.1%4.7%1.4%-2.5%3.1%10.0%
Other Income 0000100110
Interest 1343223225
Depreciation 2232223444
Exceptional Items 0200000000
Profit Before Tax -33-11-9-388-2-8330
Tax 000001000-17
Profit After Tax -33-11-9-387-2-8347
PAT Margin (%) -26.7%-7.7%-5.3%-1.6%3.6%3.1%-0.7%-5.7%1.2%12.1%
Adjusted EPS (₹)-3.3-1.1-0.9-0.30.70.7-0.2-0.80.34.6
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund -3-14-238152221131661
Share Capital 51515186868686868685
Reserves -54-65-75-78-71-64-66-74-71-24
Minority Interest0000000000
Debt1728342528272032425
Long Term Debt0000000002
Short Term Debt1728342528272032423
Trade Payables72738451675366585666
Others Liabilities 42394113111936333526
Total Liabilities 12912613597121122143106130177

Fixed Assets

Gross Block35342710111227282527
Accumulated Depreciation23231523458710
Net Fixed Assets13111287823201717
CWIP 0000000000
Investments 0000000000
Inventories24253437454543335496
Trade Receivables69697141595463384952
Cash Equivalents 5444320101
Others Assets171614661215131111
Total Assets 12912613597121122143106130177

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity -5-8-1-23-161022-1810
PBT -33-11-9-388-2-8330
Adjustment 94105349459
Changes in Working Capital 19-1-2-24-12-6326-26-29
Tax Paid 0000000000
Cash Flow From Investing Activity -1-1-2-10-4-10-1-1
Capex -1-1-2-1-1-4-20-1-1
Net Investments 0000000000
Others 0000000000
Cash Flow From Financing Activity 683240-3-10-2118-8
Net Proceeds from Shares 00035000000
Net Proceeds from Borrowing 0000000000
Interest Paid -1-3-4-2-3-2-2-1-1-4
Dividend Paid 0000000000
Others 7117-93-1-8-2019-3
Net Cash Flow 0-100-1-1-21-11
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)N/AN/AN/A0000000
ROCE (%)N/AN/AN/A-1.7725.2721.482.32-20.7920.4856.29
Asset Turnover Ratio0.941.141.341.731.922.242.181.132.512.82
PAT to CFO Conversion(x)N/AN/AN/AN/A-0.130.86N/AN/A-60.21
Working Capital Days
Receivable Days1951731461028775741305342
Inventory Days89636265716156985463
Payable Days337357307219194174155288140102

Timex Group India Ltd Stock News

Timex Group India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Timex Group India on 19-Mar-2024 09:44 is ₹138.1.
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 19-Mar-2024 09:44 the market cap of Timex Group India stood at ₹1,414.8.
The latest P/E ratio of Timex Group India as of 19-Mar-2024 09:44 is 39.14.
The latest P/B ratio of Timex Group India as of 19-Mar-2024 09:44 is 19.05.
The 52-week high of Timex Group India is ₹203.0 and the 52-week low is ₹119.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Timex Group India is ₹410.2 ( Cr.) .

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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