Timex Group India Ltd

₹ 186 -2.13%

01 Feb - close price

About

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]

Key Points

History
Co entered India in 1988 as a joint venture with Jayna Times Industries Ltd which lasted until 1990. In 1990, co entered into a JV with Titan which ended in 2000.
Co got listed as a Public limited company in 1994. Timex Group is America’s Oldest Watchmaker, established in 1854 in Connecticut^[1]^[2]

Website BSE

Market Cap ₹ 1,881 Cr.
Current Price ₹ 186
High / Low ₹ 238 / 113
Stock P/E 64.3
Book Value ₹ 8.77
Dividend Yield 0.00 %
ROCE 33.4 %
ROE %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Company has delivered good profit growth of 22.6% CAGR over last 5 years

Cons

Stock is trading at 21.3 times its book value
Though the company is reporting repeated profits, it is not paying out dividend

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Consumer Durables Industry: Miscellaneous

Part of BSE SmallCap BSE Allcap BSE Consumer Discretionary

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	65.32	79.09	94.27	121.23	84.64	83.31	106.29	126.36	94.20	92.06	108.67	174.08	119.94
	69.41	76.25	80.85	100.08	88.71	75.75	98.97	110.26	94.91	82.37	104.43	148.95	115.73
Operating Profit	-4.09	2.84	13.42	21.15	-4.07	7.56	7.32	16.10	-0.71	9.69	4.24	25.13	4.21
OPM %	-6.26%	3.59%	14.24%	17.45%	-4.81%	9.07%	6.89%	12.74%	-0.75%	10.53%	3.90%	14.44%	3.51%
	0.30	0.72	0.26	0.02	0.01	0.04	0.37	0.57	0.35	1.48	0.52	0.09	0.41
Interest	0.41	0.46	0.77	1.42	1.72	1.21	1.13	1.07	0.75	0.88	0.66	0.53	1.17
Depreciation	0.90	0.85	0.90	0.94	0.91	0.85	0.89	0.90	0.88	0.91	0.85	0.84	0.82
Profit before tax	-5.10	2.25	12.01	18.81	-6.69	5.54	5.67	14.70	-1.99	9.38	3.25	23.85	2.63
Tax %	0.00%	0.00%	0.00%	0.00%	0.00%	-304.15%	25.04%	25.17%	-25.13%	24.52%	25.23%	25.32%	26.24%
	-5.10	2.25	12.01	18.81	-6.69	22.39	4.25	11.00	-1.49	7.08	2.43	17.81	1.94
EPS in Rs	-0.51	0.22	1.19	1.86	-0.66	2.22	0.42	1.09	-0.15	0.70	0.24	1.76	0.19
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	121	124	142	173	200	207	242	252	141	264	383	419	495
	160	153	150	176	199	197	230	248	144	256	345	386	451
Operating Profit	-39	-29	-8	-3	2	11	11	4	-4	8	38	32	43
OPM %	-32%	-24%	-6%	-2%	1%	5%	5%	1%	-3%	3%	10%	8%	9%
	0	0	2	-0	0	1	0	0	1	1	0	3	2
Interest	1	1	3	4	3	2	2	3	2	2	5	4	3
Depreciation	2	2	2	3	2	2	2	3	4	4	4	4	3
Profit before tax	-42	-33	-11	-9	-3	8	8	-2	-8	3	30	28	39
Tax %	0%	0%	0%	0%	0%	0%	11%	0%	-1%	0%	-57%	25%
	-42	-33	-11	-9	-3	8	7	-2	-8	3	47	21	29
EPS in Rs	-4.16	-3.27	-1.09	-0.92	-0.32	0.74	0.74	-0.18	-0.79	0.32	4.61	2.06	2.89
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	13%
5 Years:	12%
3 Years:	44%
TTM:	21%

Compounded Profit Growth
10 Years:	10%
5 Years:	23%
3 Years:	66%
TTM:	-19%

Stock Price CAGR
10 Years:	26%
5 Years:	35%
3 Years:	26%
1 Year:	23%

Return on Equity
10 Years:	%
5 Years:	%
3 Years:	%
Last Year:	%

Balance Sheet

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	10	10	10	10	10	10	10	10	10	10	10	10	10
Reserves	-21	-54	-65	-75	-2	-71	-64	-66	-74	-71	-24	-3	78
	51	58	69	76	25	104	103	109	91	111	110	86	9
	92	106	104	118	64	78	73	89	78	80	98	108	168
Total Liabilities	133	121	117	129	97	121	122	143	106	130	194	201	265
	15	13	11	12	8	7	8	23	20	17	17	15	14
CWIP	0	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	15
	118	107	106	117	88	114	113	120	86	113	178	186	237
Total Assets	133	121	117	129	97	121	122	143	106	130	194	201	265

Cash Flows

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	7	-5	-8	-1	-23	-1	6	10	22	-18	10	32
	-2	-1	-1	-2	-1	-0	-4	-1	-0	-1	-1	-1
	-3	6	8	3	24	0	-3	-10	-21	18	-8	-28
Net Cash Flow	2	-0	-1	-0	-0	-1	-1	-2	1	-1	1	3

Ratios

Figures in Rs. Crores

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	198	203	176	150	75	104	81	91	98	67	50	45
Inventory Days	173	119	124	134	120	149	132	111	155	132	161	159
Days Payable	305	354	358	328	166	220	154	172	269	138	111	108
Cash Conversion Cycle	67	-31	-58	-44	29	33	59	30	-15	61	100	96
Working Capital Days	54	-21	-7	-11	39	61	62	53	35	56	71	68
ROCE %	-67%	-115%	-72%	-45%	-2%	25%	22%	2%	-14%	14%	48%	33%

Shareholding Pattern

Numbers in percentages

	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%
	0.02%	0.02%	0.02%	0.02%	0.37%	0.37%	0.37%	0.77%	0.77%	0.47%	0.22%	0.10%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.15%	0.16%	0.01%	0.01%
	25.04%	25.04%	25.04%	25.03%	24.69%	24.69%	24.70%	24.29%	24.16%	24.44%	24.84%	24.96%
No. of Shareholders	45,692	44,932	43,729	42,967	42,369	42,947	42,859	42,524	42,645	43,407	43,402	45,011

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Dec 2024
	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%
	0.10%	0.13%	0.02%	0.02%	0.05%	0.02%	0.37%	0.77%	0.10%
	0.01%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%	0.15%	0.01%
	24.95%	24.93%	25.04%	25.04%	25.01%	25.04%	24.69%	24.16%	24.96%
No. of Shareholders	62,709	44,346	42,285	41,376	40,597	45,692	42,369	42,645	45,011

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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