Timex Group India Limited held its Board of Directors meeting on May 26, 2026, which commenced at 4:15 PM and concluded at 8:00 PM. The Board considered and approved several key items:

Financial Results Approval

The Board approved the Audited Financial Results for the year ended March 31, 2026, and the Financial Results for the quarter ended March 31, 2026. The results were prepared in compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statutory auditors, Deloitte Haskins & Sells LLP, issued an unmodified opinion on the audited financial results.

Dividend Recommendation

The Board recommended dividend on preference shares as follows:

  • Dividend at Rs. 0.009 per share on 0.09% non-cumulative redeemable non-convertible preference shares amounting to Rs. 22,500 for FY 2025-26
  • Dividend at Rs. 0.5 per share on 5% cumulative redeemable non-convertible preference shares amounting to Rs. 14,00,00,000 comprising of Rs. 1,75,00,000 each for eight financial years from FY 2018-19 to FY 2025-26
  • Dividend at Rs. 1.075 per share on 10.75% cumulative redeemable non-convertible preference shares amounting to Rs. 4,20,74,861 comprising of Rs. 1,27,10,952 for FY 2024-25 and Rs. 2,93,63,909 for FY 2025-26

These dividends are subject to shareholder approval at the ensuing Annual General Meeting. If approved, dividend will be paid on or before 30 days from declaration date. The record date will be fixed and intimated later.

Internal Auditor Re-appointment

The Board re-appointed M/s Grant Thornton Bharat LLP as Internal Auditors of the Company for FY 2026-27. Additional information as required under Regulation 30 of SEBI LODR Regulations read with SEBI circular No. H0/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026 was provided.

Financial Performance Highlights

FY25-26 Performance:

  • Total Revenue: ₹800 Crores (48% growth over last year)
  • EBITDA: ₹116 Crores versus ₹49.7 Crores last year (134% jump)
  • EBITDA Margin: 14.5% (from 9.2% last year)
  • Profit Before Tax (PBT): ₹107.4 crores (151% jump versus previous year)
  • PBT Margin: 13.4%

Q4 FY25-26 Performance:

  • Total Revenue: ₹236 Crores (73% jump over previous year)
  • EBITDA: ₹40.4 crores (167% jump versus same quarter last year)
  • EBITDA Margin: 17.1% (vs 11.1%)
  • PBT: ₹38.1 crores (191% jump versus previous year)

Brand Performance (FY25-26):

  • Timex: 62% growth versus last year
  • Guess: 51% growth
  • Versace: 48% growth versus last year

Channel Performance (FY25-26):

  • E-commerce: 90% growth over last year
  • Trade channel: 32% growth over last year
  • All other channels: High double-digit growth

Q4 Channel Performance:

  • E-commerce: 158% growth versus last year
  • Trade channel: 52% growth
  • Retail channel: 112% year-on-year increase
  • Other channels: High double-digit growth

Q4 Brand Performance:

  • Timex: 89% growth versus previous year
  • Guess: 108% growth vs previous year
  • Versace: 100% growth during the period
  • Other brands: High double-digit growth

Business Highlights

The company achieved a 32% CAGR over FY22-FY26, scaling revenue from ₹265 crore to ₹800 crore. Key growth drivers included premium category rise, expanded brand portfolio, operating efficiency, and strengthened manufacturing backbone. The company has scaled manufacturing capacity to 6 million units with plans to reach 10 million units.

Exceptional Items

The company recognized an exceptional item of ₹210 lakhs for the quarter ended March 31, 2026 and ₹531 lakhs for the year ended March 31, 2026 related to the impact of New Labour Codes notified by the Government of India on November 21, 2025.

Preference Share Redemption

The company redeemed 13.88%, 2,29,00,000 cumulative redeemable non-convertible preference shares amounting to ₹2,290 lakhs on March 25, 2026, along with dividend payment of ₹308 lakhs for the period from April 01, 2025 to March 20, 2026.

Declaration of Unmodified Audit Opinion

The company submitted a declaration pursuant to Regulation 33(3)(d) of SEBI LODR Regulations confirming that the statutory auditors issued an audit report with unmodified opinion on the audited financial results for the year ended March 31, 2026.

Additional Information

The financial results are being disseminated on the company's website at www.timexindia.com. A press release on the financial results was also issued.