WEBSITE BSE:500414 NSE : TIMEX GROUP 10 May, 16:01
Market Cap ₹1339 Cr.
Stock P/E 37.1
P/B 18
Current Price ₹132.7
Book Value ₹ 7.4
Face Value 1
52W High ₹203
Dividend Yield 0%
52W Low ₹ 126.8
Timex Group India Ltd (TGIL) is engaged in designing, production and advertising of timepieces and jewellery globally. The Company is engaged within the business of producing and trading of watches and rendering of associated after sales service. The Company additionally offers accounting and IT support services to organization groups. The Company's segments encompass Watches and Others. The Watches segment is engaged within the production and buying and selling of watches. The Others phase is engaged in presenting IT and finance associated back office guide to different organization businesses. The Company's manufacturers consist of Timex, Helix, SALVATORE FERRAGAMO and VERSACE. The Company's production centres are positioned at Baddi, Himachal Pradesh. It is a subsidiary of Timex Group Luxury Watches B.V.
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| #(Fig in Cr.) | Sep 2021 | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 88 | 65 | 79 | 94 | 121 | 85 | 83 | 106 | 126 | 94 |
| Other Income | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Total Income | 88 | 66 | 80 | 95 | 121 | 85 | 83 | 107 | 127 | 95 |
| Total Expenditure | 75 | 69 | 76 | 81 | 101 | 89 | 76 | 99 | 110 | 95 |
| Operating Profit | 13 | -4 | 4 | 14 | 20 | -4 | 8 | 8 | 17 | -0 |
| Interest | 1 | 0 | 0 | 1 | 1 | 2 | 1 | 1 | 1 | 1 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 11 | -5 | 2 | 12 | 19 | -7 | 6 | 6 | 15 | -2 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | -17 | 1 | 4 | -1 |
| Profit After Tax | 11 | -5 | 2 | 12 | 19 | -7 | 22 | 4 | 11 | -1 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 11 | -5 | 2 | 12 | 19 | -7 | 22 | 4 | 11 | -1 |
| Adjusted Earnings Per Share | 1.1 | -0.5 | 0.2 | 1.2 | 1.9 | -0.7 | 2.2 | 0.4 | 1.1 | -0.1 |
| #(Fig in Cr.) | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 121 | 124 | 142 | 173 | 200 | 207 | 242 | 252 | 141 | 264 | 383 | 409 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 1 | 1 | 0 | 1 |
| Total Income | 122 | 124 | 142 | 173 | 200 | 208 | 242 | 252 | 142 | 266 | 384 | 412 |
| Total Expenditure | 160 | 153 | 150 | 176 | 199 | 197 | 230 | 248 | 144 | 256 | 345 | 380 |
| Operating Profit | -39 | -29 | -8 | -3 | 2 | 11 | 12 | 4 | -2 | 9 | 39 | 33 |
| Interest | 1 | 1 | 3 | 4 | 3 | 2 | 2 | 3 | 2 | 2 | 5 | 4 |
| Depreciation | 2 | 2 | 2 | 3 | 2 | 2 | 2 | 3 | 4 | 4 | 4 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -42 | -33 | -11 | -9 | -3 | 8 | 8 | -2 | -8 | 3 | 30 | 25 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | -0 | 0 | -17 | -13 |
| Profit After Tax | -42 | -33 | -11 | -9 | -3 | 8 | 7 | -2 | -8 | 3 | 47 | 36 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -42 | -33 | -11 | -9 | -3 | 8 | 7 | -2 | -8 | 3 | 47 | 36 |
| Adjusted Earnings Per Share | -4.2 | -3.3 | -1.1 | -0.9 | -0.3 | 0.7 | 0.7 | -0.2 | -0.8 | 0.3 | 4.6 | 3.6 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 45% | 15% | 13% | 12% |
| Operating Profit CAGR | 333% | 114% | 29% | 0% |
| PAT CAGR | 1467% | 0% | 42% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -5% | 57% | 22% | 29% |
| ROE Average | 0% | 0% | 0% | -37% |
| ROCE Average | 56% | 19% | 16% | -17% |
| #(Fig in Cr.) | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 30 | -3 | -14 | -23 | 8 | 15 | 22 | 21 | 13 | 16 | 61 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 |
| Other Non-Current Liabilities | 9 | 9 | 10 | 10 | 5 | 6 | 7 | 19 | 19 | 19 | 7 |
| Total Current Liabilities | 101 | 123 | 130 | 149 | 84 | 100 | 93 | 103 | 75 | 96 | 108 |
| Total Liabilities | 141 | 129 | 126 | 135 | 97 | 121 | 122 | 143 | 106 | 130 | 177 |
| Fixed Assets | 15 | 13 | 11 | 12 | 8 | 7 | 8 | 23 | 20 | 17 | 17 |
| Other Non-Current Assets | 12 | 12 | 10 | 10 | 4 | 4 | 4 | 2 | 1 | 1 | 2 |
| Total Current Assets | 114 | 104 | 104 | 113 | 84 | 110 | 109 | 119 | 85 | 112 | 159 |
| Total Assets | 141 | 129 | 126 | 135 | 97 | 121 | 122 | 143 | 106 | 130 | 177 |
| #(Fig in Cr.) | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 3 | 6 | 5 | 4 | 4 | 4 | 3 | 2 | 0 | 1 | 0 |
| Cash Flow from Operating Activities | 7 | -5 | -8 | -1 | -23 | -1 | 6 | 10 | 22 | -18 | 10 |
| Cash Flow from Investing Activities | -2 | -1 | -1 | -2 | -1 | -0 | -4 | -1 | -0 | -1 | -1 |
| Cash Flow from Financing Activities | -3 | 6 | 8 | 3 | 24 | 0 | -3 | -10 | -21 | 18 | -8 |
| Net Cash Inflow / Outflow | 2 | -0 | -1 | -0 | -0 | -1 | -1 | -2 | 1 | -1 | 1 |
| Closing Cash & Cash Equivalent | 6 | 5 | 4 | 4 | 4 | 3 | 2 | 0 | 1 | 0 | 1 |
| # | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | -4.15 | -3.27 | -1.09 | -0.92 | -0.32 | 0.74 | 0.74 | -0.18 | -0.79 | 0.32 | 4.61 |
| CEPS(Rs) | -3.93 | -3.03 | -0.87 | -0.64 | -0.12 | 0.91 | 0.9 | 0.12 | -0.44 | 0.67 | 4.96 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | -1.05 | -4.32 | -5.47 | -6.39 | -6.74 | -6.02 | -5.31 | -5.49 | -6.29 | -5.99 | -1.38 |
| Core EBITDA Margin(%) | -31.44 | -23.38 | -5.46 | -1.63 | 0.77 | 5.07 | 4.15 | 1.26 | -2.52 | 2.74 | 8.82 |
| EBIT Margin(%) | -33.05 | -25.16 | -5.78 | -3.2 | -0.19 | 4.63 | 3.67 | 0.36 | -4.17 | 1.9 | 8.07 |
| Pre Tax Margin(%) | -33.92 | -26.13 | -7.59 | -5.29 | -1.63 | 3.59 | 3.07 | -0.62 | -5.76 | 1.09 | 6.83 |
| PAT Margin (%) | -33.92 | -26.13 | -7.59 | -5.29 | -1.63 | 3.59 | 2.74 | -0.62 | -5.68 | 1.09 | 10.71 |
| Cash Profit Margin (%) | -32.11 | -24.28 | -6.04 | -3.7 | -0.6 | 4.39 | 3.33 | 0.41 | -3.17 | 2.29 | 11.54 |
| ROA(%) | -26.42 | -24.46 | -8.63 | -7.1 | -2.82 | 6.9 | 6.14 | -1.36 | -6.45 | 2.73 | 30.22 |
| ROE(%) | -405.41 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| ROCE(%) | -67.13 | -114.77 | -59.53 | -45.64 | -1.77 | 25.27 | 21.48 | 2.32 | -20.79 | 20.48 | 56.29 |
| Receivable days | 243.86 | 195.12 | 173.47 | 145.81 | 102.47 | 87.46 | 75.48 | 73.5 | 130.43 | 53.4 | 42.43 |
| Inventory Days | 115.54 | 88.83 | 62.6 | 61.8 | 64.5 | 71.31 | 60.7 | 55.69 | 98.22 | 53.54 | 62.8 |
| Payable days | 292.74 | 336.57 | 356.9 | 306.75 | 219.35 | 194.37 | 173.69 | 155.12 | 288.37 | 140.13 | 102.42 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 57.95 | 69.73 | 0 | 0 | 208.91 | 26.28 |
| Price/Book(x) | -12.68 | -2.35 | -3.47 | -4.68 | -7.46 | -7.17 | -9.7 | -3.18 | -4.35 | -11.11 | -87.52 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 1.49 | 1.26 | 1.8 | 2.15 | 3.02 | 2.59 | 2.57 | 1.08 | 2.52 | 2.92 | 3.44 |
| EV/Core EBITDA(x) | -4.67 | -5.28 | -32.68 | -132.39 | 360.23 | 47.27 | 53.62 | 67.8 | -151.46 | 84.11 | 34.17 |
| Net Sales Growth(%) | -33.82 | 1.76 | 15.2 | 21.76 | 15.44 | 3.59 | 16.56 | 4.25 | -44.07 | 87.69 | 44.99 |
| EBIT Growth(%) | -663.22 | 22.35 | 73.64 | 33.09 | 93.04 | 2584.62 | 2.99 | -89.48 | -660 | 195.41 | 524.6 |
| PAT Growth(%) | -1026.27 | 21.4 | 66.71 | 15.57 | 64.72 | 329.97 | -0.8 | -124.13 | -345 | 140.2 | 1344.72 |
| EPS Growth(%) | -2444.53 | 21.4 | 66.71 | 15.58 | 64.72 | 329.98 | -0.8 | -124.13 | -345.02 | 140.2 | 1344.76 |
| Debt/Equity(x) | 0.34 | -6.81 | -1.96 | -1.47 | 3.15 | 1.85 | 1.2 | 0.99 | 0.23 | 1.53 | 0.41 |
| Current Ratio(x) | 1.13 | 0.84 | 0.8 | 0.76 | 1.01 | 1.1 | 1.18 | 1.15 | 1.14 | 1.17 | 1.47 |
| Quick Ratio(x) | 0.77 | 0.65 | 0.61 | 0.53 | 0.57 | 0.65 | 0.69 | 0.74 | 0.7 | 0.61 | 0.58 |
| Interest Cover(x) | -38.21 | -25.81 | -3.21 | -1.53 | -0.14 | 4.47 | 6.12 | 0.37 | -2.64 | 2.35 | 6.53 |
| Total Debt/Mcap(x) | 0.08 | 0.17 | 0.14 | 0.11 | 0.05 | 0.06 | 0.05 | 0.12 | 0.01 | 0.04 | 0.02 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.93 | 74.93 | 74.93 | 74.93 | 74.93 | 74.93 | 74.93 | 74.93 | 74.93 | 74.93 |
| FII | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.37 | 0.37 | 0.37 | 0.76 | 0.76 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.15 |
| Public | 25.04 | 25.04 | 25.04 | 25.04 | 25.04 | 24.69 | 24.69 | 24.69 | 24.29 | 24.15 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2021 | Mar 2022 | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 7.56 | 7.56 | 7.56 | 7.56 | 7.56 | 7.56 | 7.56 | 7.56 | 7.56 | 7.56 |
| FII | 0 | 0 | 0 | 0 | 0 | 0.04 | 0.04 | 0.04 | 0.08 | 0.08 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.02 |
| Public | 2.53 | 2.53 | 2.53 | 2.53 | 2.53 | 2.49 | 2.49 | 2.49 | 2.45 | 2.44 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 10.1 | 10.1 | 10.1 | 10.1 | 10.1 | 10.1 | 10.1 | 10.1 | 10.1 | 10.1 |
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