What’s new

• Revenue jumped 49% to ₹800 crore; Q4 surged 73% on 90% e-commerce growth.
• Manufacturing capacity doubled to 6 million units; plans to reach 10 million by March 2027 via ₹8 crore capex.
• EBITDA margin widened to 14.5% from 9.2% a year ago; management targets 16% or more in FY27.

Why it matters

Timex is capitalizing on India's premium-watch boom. E-commerce now accounts for 40% of controlled sales, and quick commerce adds a new gifting channel. The margin trajectory and capacity buildout suggest a structural shift, but the test is whether demand can fill the new lines at these prices.

What we’re watching

• Utilization of the new 10-million-unit capacity as it ramps.
• Full-year contribution from the Aston Martin license and quick commerce growth.
• Whether e-commerce share continues to climb without margin dilution.

The full read

Timex Group India's annual results were already known: ₹800 cr revenue, 49% growth, margins at 14.5%. But the conference call added the texture. E-commerce now drives 40% of controlled sales, and quick commerce, though small at 3.5%, is growing. Capacity has been raised to 6 million units, with a ₹8 cr capex to take it to 10 million single-shift capacity by March next year. Management sees EBITDA margins heading toward 16% or more on a bigger top line; careful language, but directionally clear. The Aston Martin launch moved 10,000 units at ₹40,000 each in under three months. The open question is how fast capacity fills up. The strong Q4, up 73%, suggests demand is there. Execution on margin and channel mix will determine whether this premium mid-cap keeps its momentum.

Primary source: BSE · NSE

What’s new

• Annual revenue rose 48% to ₹800 crore.
• Operating margins grew to 14.5% from 9.2%.
• Board recommended paying ₹14 crore in accumulated preference share arrears.

Why it matters

The shift toward luxury watch segments is delivering higher margins. Clearing long-standing dividend arrears signals a cleaner balance sheet and confidence in cash flow.

What we’re watching

• Sustainability of the 158% e-commerce growth rate.
• Impact of the preference share payout on liquidity.
• Whether the 14.5% margin level holds in the coming quarters.

The full read

Timex Group India finished the year with ₹800 crore in revenue, a 48% increase that confirms the success of its premium watch strategy. Profitability followed, with net profit more than doubling to ₹75.4 crore and operating margins widening to 14.5% from 9.2%. The March quarter was strong, with revenue climbing 73% to ₹236 crore on the back of a 158% surge in e-commerce sales and a 52% gain in trade channels. The board moved to clean up the balance sheet by recommending the payment of ₹14 crore in accumulated arrears on cumulative preference shares. This resolves a long-standing dividend obligation. With EBITDA up 134% to ₹116 crore, the company is capturing more value from its luxury and fashion watch portfolio. The next test is whether these margins hold as the company scales its digital presence.

Primary source: BSE · NSE

What’s new

• Annual revenue rose 48% to ₹800 crore, with net profit more than doubling to ₹75.4 crore.
• Operating margins widened to 14.5% from 9.2% in the previous year.
• The company plans to expand manufacturing capacity from six million to ten million units.

Why it matters

The jump in margins to 14.5% suggests the company's premiumisation strategy is gaining real traction. Scaling production capacity by 66% indicates management expects this growth trajectory to persist.

What we’re watching

• Whether the 158% surge in e-commerce sales holds in the coming quarters.
• The timeline for the capacity expansion to 10 million units.
• If the premium brand portfolio can maintain these margins against rising competition.

The full read

Timex Group India closed the year ending March 2026 with ₹800 crore in revenue, a 48% increase that reflects the success of its premiumisation strategy. Net profit more than doubled to ₹75.4 crore, while operating margins expanded to 14.5% from 9.2%.

Growth is accelerating.

In the fourth quarter alone, revenue jumped 73% to ₹236 crore, with e-commerce sales surging 158% and trade channels rising 52%. Over the last four years, the company has nearly tripled its revenue, with EBITDA rising 134% to ₹116 crore. To sustain this pace, the company is moving to increase its manufacturing capacity from six million units to ten million units. The shift toward higher-margin premium brands is no longer just a plan; it is showing up in the bottom line, and the company is now betting heavily that the Indian market will continue to absorb this expanded production.

Primary source: BSE · NSE

What’s new

• Annual revenue climbed 48% to ₹800 crore.
• Net profit more than doubled to ₹75.4 crore.
• Operating margins expanded to 14.5% from 9.2%.

Why it matters

The company has nearly tripled its revenue from ₹265 crore in FY22. This performance validates its premiumisation strategy and aggressive channel expansion, particularly in e-commerce.

What we’re watching

• Execution of the plan to scale manufacturing capacity to 10 million units.
• Sustainability of the 14.5% operating margin in a competitive market.
• Growth momentum in the Guess and Versace brand portfolios.

The full read

Timex Group India is scaling rapidly. For the year ending March 2026, the company reported revenue of ₹800 crore, a 48% increase over the previous year. Profitability followed suit, with net profit more than doubling to ₹75.4 crore and EBITDA surging 134% to ₹116 crore. The company’s operating margins expanded significantly to 14.5% from 9.2%. The fourth quarter was particularly aggressive, with revenue jumping 73% year-on-year to ₹236 crore. E-commerce was the standout channel, rising 158% in the final quarter. With annual revenue nearly tripling since FY22, the company is now moving to expand its manufacturing capacity from six million to ten million units. Having generated ₹91 crore in cash from operations, the company has the liquidity to fund this expansion. The results confirm that the premiumisation of the Timex, Guess, and Versace portfolios is yielding tangible financial returns.

Primary source: BSE · NSE