Timex Group India Limited disclosed the outcome of its Board meeting held on November 3, 2026, which included approval of unaudited financial results for Q2 FY27 and appointment of new statutory auditors.

Financial Results Approval

The Board approved the unaudited financial results for the quarter and half year ended September 30, 2026, in compliance with Regulation 33 of SEBI Listing Regulations. The results were reviewed by Deloitte Haskins & Sells LLP, who issued a limited review report confirming no material misstatements were found.

Key Financial Performance (Quarter Ended September 30, 2026)

  • Revenue from operations: ₹35,801 lakh (compared to ₹24,367 lakh in Q2 FY26)
  • Other income: ₹116 lakh
  • Total income: ₹35,917 lakh
  • Total expenses: ₹29,583 lakh
  • Profit before tax: ₹6,334 lakh (compared to ₹4,069 lakh in Q2 FY26)
  • Tax expense: ₹1,623 lakh
  • Net profit: ₹4,711 lakh (compared to ₹3,023 lakh in Q2 FY26)
  • Earnings per share (basic and diluted): ₹4.62

Key Financial Performance (Six Months Ended September 30, 2026)

  • Revenue from operations: ₹57,691 lakh (compared to ₹41,261 lakh in H1 FY26)
  • Other income: ₹171 lakh
  • Total income: ₹57,862 lakh
  • Total expenses: ₹48,150 lakh
  • Profit before tax: ₹9,712 lakh (compared to ₹6,056 lakh in H1 FY26)
  • Tax expense: ₹2,499 lakh
  • Net profit: ₹7,213 lakh (compared to ₹4,490 lakh in H1 FY26)
  • Earnings per share (basic and diluted): ₹7.06

Balance Sheet Highlights (as at September 30, 2026)

  • Total assets: ₹61,087 lakh (compared to ₹33,777 lakh as at March 31, 2026)
  • Inventories: ₹36,802 lakh (compared to ₹19,693 lakh as at March 31, 2026)
  • Trade receivables: ₹12,055 lakh (compared to ₹5,816 lakh as at March 31, 2026)
  • Cash and cash equivalents: ₹5,156 lakh (compared to ₹3,395 lakh as at March 31, 2026)
  • Total equity: ₹16,981 lakh (compared to ₹11,128 lakh as at March 31, 2026)
  • Current liabilities: ₹39,164 lakh (compared to ₹17,293 lakh as at March 31, 2026)

Cash Flow Statement (Six Months Ended September 30, 2026)

  • Net cash from operating activities: ₹3,896 lakh
  • Net cash used in investing activities: ₹(291) lakh
  • Net cash used in financing activities: ₹(1,844) lakh
  • Net increase in cash: ₹1,761 lakh

Auditor Appointment

The Board approved the appointment of M/s B S R & Co. LLP (ICAI Firm Registration No. 101248W/W-100022) as statutory auditors for a five-year term commencing from the conclusion of the 39th AGM in 2027 until the conclusion of the 44th AGM in 2032, subject to shareholder approval.

Exceptional Items Note

The company had previously recognized an additional provision of ₹531 lakh for the year ended March 31, 2026, related to the impact of New Labour Codes, which was presented as an exceptional item. No exceptional items were recorded in the current period.

Dividend Payments

The company paid dividends on preference shares totaling ₹1,639 lakh on August 24, 2026, following shareholder approval on August 20, 2026. This included:

  • 0.09% non-cumulative redeemable non-convertible preference shares: ₹0.23 lakh for FY 2025-26
  • 10.75% cumulative redeemable non-convertible preference shares: ₹421 lakh for FY 2024-25 and 2025-26
  • 5% cumulative redeemable non-convertible preference shares: ₹1,400 lakh covering unpaid accumulated dividends from FY 2018-19 to 2025-26

Meeting Details

The Board meeting commenced at 4:00 PM and concluded at 5:00 PM on November 3, 2026.

Additional Information

The financial results have been prepared in accordance with Indian Accounting Standard 34 and Companies Act, 2013 requirements. The company operates primarily in watch manufacturing and trading, with additional IT support services for group companies, considered a single operating segment.