Is the Watches sector outperforming NIFTY 500?
The 52-week sector comparison is unavailable. 3 of 4 covered companies currently have positive Mansfield relative strength versus NIFTY 500.
20-quarter listed-company comparison
Watches Stocks in India
Watches: KDDL Ltd owns the largest revenue base; Foce India Ltd has the fastest current growth.
Nifty Watches Index — Constituents & Performance
The Watches companies below are the listed Indian Watches universe this page tracks — the same constituent set people search for as the Nifty Watches index. Every figure is equal-weighted across those companies, so one large constituent cannot set the reading. Each number carries its own as-of date.
The sector itself · before any single company
How has Watches moved against NIFTY 500?
The line below covers 5.1 years. Over the most recent two of them this sector is 69% ahead of NIFTY 500. Earnings across its companies grew 3% on average over the last four reported quarters — close to flat. It has been ahead of NIFTY 500 on a rolling three-month view for 11 weeks running.
BREAKING OUT · ahead 11w~Price up, without the fundamentals confirming3 of 4 companies ahead of NIFTY 500 by 5% or more over three months
RS ↑11w · 2/4 >200d (+0) · 3/4 lead (+1) · EPS 2/4↑
Watches, equal-weighted, based at 200
NIFTY 500, same base, same start
trailing 12-month earnings per share rising
falling
Strength anatomy
Broad, early and backedHow much of the sector is participating, how recently, and whether the movers score well.
Together3 of 4 stocks moving
Fresh1 crossed in the last 4 weeks
Backed by scoresmovers score +8 vs the sector average
Down the cap ladder — bar is now, tick is four weeks ago
Large
0/10
Mid
2/20
Small
1/1+1
Participation is spreading downward — the mid and small companies added more this month than the large ones did.
Both lines start at 200 in the same week, so the distance between them is the whole story: the sector line is an equal-weighted index of its 4 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member rebased to 100 at the start and the sector taking the median — so a price line pulling away from flat bars is a re-rating, not earnings. A bar turns red when that figure is lower than the quarter before. Rules are fixed and applied identically everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover any point to read both values and the gap. This is a description of what the numbers did, not advice.
Sector relative strength · before individual stocks
Is Watches outperforming NIFTY 500?
The 52-week comparison of Watches against NIFTY 500 is not available from the current market series. 3 of 4 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is broad. Timex Group India Ltd is the strongest against the sector itself at +26.5%. Readings are as of 2026-07-19.
—Sector vs NIFTY 500 · 13 weeks
—Sector vs NIFTY 500 · 52 weeks
3/4Stocks leading NIFTY 500
3/4Stocks leading sector
Sector metric: 35.6 as of 2026-07-19 · BROADENING · falling.
The central tension: the companies with the most scale are not necessarily the companies creating the most change.
Start with scale. Then earnings trajectory. Then business quality. Only after those three agree should price leadership carry much weight.
Bottom line
The 52-week sector comparison is unavailable. 3 of 4 covered companies currently have positive Mansfield relative strength versus NIFTY 500. KDDL Ltd leads with revenue of ₹2,154 crore, based on 4 of 4 comparable companies through Mar 2026. Foce India Ltd has the fastest current revenue growth at 81.2%, across 4 of 4 comparable companies.
Which Watches company is largest by revenue?
KDDL Ltd leads with revenue of ₹2,154 crore, based on 4 of 4 comparable companies through Mar 2026.
Which Watches company is growing fastest?
Foce India Ltd has the fastest current revenue growth at 81.2%, across 4 of 4 comparable companies.
Which Watches company has the strongest 4-Factor Sector Score?
Timex Group India Ltd ranks first at 81.4/100 with 94% evidence confidence. The score prioritizes research; it is not a buy recommendation.
Which Watches company reports the most CAPEX?
Ethos Ltd reports the largest latest CAPEX at ₹24 crore, with 2 of 4 companies comparable.
Which Watches company has the least gross debt?
Foce India Ltd has the lowest comparable gross debt at ₹48 crore. KDDL Ltd has the highest at ₹512 crore.
Which Watches company has the lowest comparable PEG?
Timex Group India Ltd has the lowest comparable Guarded PEG at 1.43, among 2 of 4 companies that pass the metric’s comparability rules.
How much history does this Watches comparison include?
The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Mar 2026. Missing observations remain blank rather than being estimated.
How is the 4-Factor Sector Score calculated?
The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.
Companies
4
complete canonical membership
Combined market value
₹17.3K Cr
Ethos Ltd
Revenue growing
4/4
positive TTM year-on-year growth
Beating NIFTY 500
3/4
positive Mansfield relative strength
Global company selection
00 · research priority, made explicit
4-Factor Sector Score
An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.
Growth & earnings · 35%Capital efficiency · 25%Valuation · 20%Relative strength · 20%
Timex Group India Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 94% evidence confidence.
KDDL Ltd has stronger price confirmation than earnings confirmation; that is a research prompt, not permission to chase.
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.
1. Timex Group India Ltd · TIMEX
81.4/100 · Sector-leading setup · 94% evidence
Exact sum: 32.7 + 18.1 + 10.6 + 20 = 81.4
Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
32.7/35Growth & earnings
Revenue 48.5% · PAT 100% · OPM change 6 pp
95% evidence
18.1/25Capital efficiency
ROCE 82.8% · debt/equity 0.95×
95% evidence
10.6/20Valuation
P/E 73.7× · PEG 1.43
85% evidence
20.0/20Relative strength
RS sector 26.5% · RS bench 51.3% · 1Y 138.6%
100% evidence
2. Foce India Ltd · FOCE
55.9/100 · Mixed-positive evidence · 61% evidence
Exact sum: 18.8 + 15.9 + 9.2 + 12 = 55.9
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18.8/35Growth & earnings
Revenue 81.2% · PAT 25% · OPM change 0 pp
48% evidence
15.9/25Capital efficiency
ROCE 16.1% · debt/equity 0.51×
95% evidence
9.2/20Valuation
P/E 47× · PEG —
35% evidence
12.0/20Relative strength
RS sector 26.4% · RS bench -12.5% · 1Y -26.7%
70% evidence
3. KDDL Ltd · KDDL
52.4/100 · Mixed-positive evidence · 80% evidence
Exact sum: 13.1 + 13.6 + 7.6 + 18.1 = 52.4
Decision use: Price leads the evidence: RS versus the benchmark is 24.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
13.1/35Growth & earnings
Revenue 30.7% · PAT -4.9% · OPM change 0 pp
95% evidence
13.6/25Capital efficiency
ROCE 11.2% · debt/equity 0.47×
80% evidence
7.6/20Valuation
P/E 43.2× · PEG —
35% evidence
18.1/20Relative strength
RS sector 2.9% · RS bench 24.5% · 1Y 16.4%
100% evidence
4. Ethos Ltd · ETHOSLTD
31.9/100 · Adverse evidence · 97% evidence
Exact sum: 10.3 + 12.5 + 5.6 + 3.5 = 31.9
Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
10.3/35Growth & earnings
Revenue 28.9% · PAT 1% · OPM change -3 pp
100% evidence
12.5/25Capital efficiency
ROCE 9.8% · debt/equity 0.22×
100% evidence
5.6/20Valuation
P/E 71.4× · PEG 5.5
85% evidence
3.5/20Relative strength
RS sector -15.9% · RS bench 2.1% · 1Y -5.9%
100% evidence
01 · compare level, then change
Revenue Scale & Growth Durability
KDDL Ltd has the highest Revenue among the 4 Watches companies compared here, at ₹2,154 crore. Ethos Ltd is next at ₹1,612 crore. Foce India Ltd has the highest Revenue growth at 81.2%, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: KDDL Ltd is the scale leader at ₹2,154 crore, 33.6% ahead of Ethos Ltd. Foce India Ltd's growth is 81.2% from a ₹250 crore base, with 10 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.
LeaderKDDL Ltd · ₹2,154 crore
Gap33.6% versus #2 · Ethos Ltd
Persistence8/8 recent comparable periods
Coverage4/4 companies · 64 observations
Investor read: KDDL Ltd is the scale benchmark; Foce India Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.
This conclusion weakens if: KDDL Ltd's growth falls below Foce India Ltd's for two consecutive comparable reports while operating margin also compresses.
Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.
Revenuelargest
1KDDL Ltd KDDL₹2.2K Cr
2Ethos Ltd ETHOSLTD₹1.6K Cr
3Timex Group India Ltd TIMEX₹799 Cr
4Foce India Ltd FOCE⚠ unverified₹250 Cr
Revenue growthfastest growers
1Foce India Ltd FOCE⚠ unverified81%
2Timex Group India Ltd TIMEX49%
3KDDL Ltd KDDL31%
4Ethos Ltd ETHOSLTD29%
Revenue · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Revenue | Revenue growth | Reported |
|---|---|---|---|
| KDDL Ltd KDDL | ₹575 Cr | 37% | Mar 2026 |
| Ethos Ltd ETHOSLTD | ₹414 Cr | 33% | Mar 2026 |
| Timex Group India Ltd TIMEX | ₹235 Cr | 74% | Mar 2026 |
| Foce India Ltd FOCE⚠ unverified | ₹87 Cr | 24% | Mar 2026 |
Full 20-quarter history · every available company
Revenue · reported quarter history
Ethos Ltd · ETHOSLTD
₹89 Cr
₹134 Cr
₹195 Cr
₹159 Cr
₹174 Cr
₹178 Cr
₹230 Cr
₹208 Cr
₹230 Cr
₹235 Cr
₹281 Cr
₹253 Cr
₹273 Cr
₹297 Cr
₹370 Cr
₹311 Cr
₹346 Cr
₹383 Cr
₹469 Cr
₹414 Cr
Foce India Ltd · FOCE⚠ unverified
—
₹101 Cr
—
₹86 Cr
—
₹43 Cr
—
₹15 Cr
—
₹26 Cr
—
₹54 Cr
—
₹34 Cr
—
₹70 Cr
—
₹59 Cr
—
₹87 Cr
KDDL Ltd · KDDL
—
—
—
—
—
—
₹313 Cr
₹299 Cr
₹332 Cr
₹340 Cr
₹372 Cr
₹348 Cr
₹360 Cr
₹396 Cr
₹472 Cr
₹420 Cr
₹465 Cr
₹517 Cr
₹597 Cr
₹575 Cr
Timex Group India Ltd · TIMEX
₹32 Cr
₹88 Cr
₹65 Cr
₹79 Cr
₹94 Cr
₹121 Cr
₹85 Cr
₹83 Cr
₹106 Cr
₹126 Cr
₹94 Cr
₹92 Cr
₹109 Cr
₹174 Cr
₹120 Cr
₹135 Cr
₹169 Cr
₹244 Cr
₹151 Cr
₹235 Cr
Revenue growth · reported quarter history
Ethos Ltd · ETHOSLTD
—
—
—
—
96%
33%
18%
31%
32%
32%
22%
22%
19%
26%
32%
23%
27%
29%
27%
33%
Foce India Ltd · FOCE⚠ unverified
—
—
—
—
—
-57%
—
-83%
—
-40%
—
260%
—
31%
—
30%
—
74%
—
24%
KDDL Ltd · KDDL
—
—
—
—
—
—
—
—
—
—
19%
16%
8.4%
16%
27%
21%
29%
31%
26%
37%
Timex Group India Ltd · TIMEX
—
—
—
—
194%
38%
30%
5.1%
13%
4.1%
11%
11%
2.8%
38%
28%
47%
55%
40%
26%
74%
02 · compare level, then change
Operating Economics & Margin Trend
Timex Group India Ltd has the highest OPM among the 4 Watches companies compared here, at 17%. KDDL Ltd is next at 15%. The same company also holds the highest Margin change, at +6 percentage points. 4 of 4 companies report a comparable reading, the latest through Mar 2026. Its OPM series carries 20 reported observations across the 20-quarter window.
What the numbers say: Timex Group India Ltd leads both opm at 17% and margin change at +6 percentage points.
LeaderTimex Group India Ltd · 17%
Gap13.3% versus #2 · KDDL Ltd
Persistence6/8 recent comparable periods
Coverage4/4 companies · 70 observations
Investor read: Timex Group India Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current margin change signal.
Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.
OPMhighest
1Timex Group India Ltd TIMEX17%
2KDDL Ltd KDDL15%
3Foce India Ltd FOCE⚠ unverified14%
4Ethos Ltd ETHOSLTD12%
Margin changefastest expanders
1Timex Group India Ltd TIMEX+6.0 pp
2Foce India Ltd FOCE⚠ unverified0.0 pp
3KDDL Ltd KDDL0.0 pp
4Ethos Ltd ETHOSLTD−3.0 pp
Operating margin · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | OPM | Margin change | Reported |
|---|---|---|---|
| Timex Group India Ltd TIMEX | 17% | +6.0 pp | Mar 2026 |
| KDDL Ltd KDDL | 15% | 0.0 pp | Mar 2026 |
| Foce India Ltd FOCE⚠ unverified | 14% | 0.0 pp | Mar 2026 |
| Ethos Ltd ETHOSLTD | 12% | −3.0 pp | Mar 2026 |
Full 20-quarter history · every available company
OPM · reported quarter history
Ethos Ltd · ETHOSLTD
7.4%
9.6%
13%
13%
16%
15%
16%
12%
15%
16%
16%
14%
16%
14%
15%
15%
13%
12%
13%
12%
Foce India Ltd · FOCE⚠ unverified
—
4.0%
—
9.0%
—
18%
—
21%
—
27%
—
24%
—
26%
—
14%
—
14%
—
14%
KDDL Ltd · KDDL
11%
12%
15%
14%
16%
8.9%
18%
14%
18%
18%
18%
17%
15%
16%
16%
15%
15%
14%
14%
15%
Timex Group India Ltd · TIMEX
-12%
15%
-6.3%
3.6%
14%
17%
-4.8%
9.0%
7.0%
13%
-1.0%
11%
4.0%
14%
4.0%
11%
13%
17%
6.0%
17%
Margin change · reported quarter history
Ethos Ltd · ETHOSLTD
—
—
—
+0.6 pp
+8.2 pp
+5.1 pp
+2.6 pp
−1.3 pp
−0.6 pp
+1.3 pp
0.0 pp
+2.0 pp
+1.0 pp
−2.0 pp
−1.0 pp
+1.0 pp
−3.0 pp
−2.0 pp
−2.0 pp
−3.0 pp
Foce India Ltd · FOCE⚠ unverified
—
—
—
+7.2 pp
—
+14.0 pp
—
+12.0 pp
—
+9.0 pp
—
+3.0 pp
—
−1.0 pp
—
−10.0 pp
—
−12.0 pp
—
0.0 pp
KDDL Ltd · KDDL
+22.8 pp
−0.5 pp
−0.1 pp
−1.7 pp
+5.6 pp
−3.1 pp
+3.2 pp
+0.4 pp
+1.8 pp
+9.1 pp
0.0 pp
+3.0 pp
−3.0 pp
−2.0 pp
−2.0 pp
−2.0 pp
0.0 pp
−2.0 pp
−2.0 pp
0.0 pp
Timex Group India Ltd · TIMEX
+147.8 pp
+23.7 pp
−16.0 pp
−5.9 pp
+26.5 pp
+2.9 pp
+1.5 pp
+5.4 pp
−7.2 pp
−4.5 pp
+3.8 pp
+2.0 pp
−3.0 pp
+1.0 pp
+5.0 pp
0.0 pp
+9.0 pp
+3.0 pp
+2.0 pp
+6.0 pp
03 · compare level, then change
Profit Scale & Acceleration
KDDL Ltd has the highest Net profit among the 4 Watches companies compared here, at ₹136 crore. Ethos Ltd is next at ₹97 crore. Timex Group India Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.
What the numbers say: KDDL Ltd leads with ₹136 crore of TTM profit, 40.2% above Ethos Ltd. Timex Group India Ltd shows ≥100% on the scoring scale (141.9% uncapped) growth from a ₹75 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.
LeaderKDDL Ltd · ₹136 crore
Gap40.2% versus #2 · Ethos Ltd
Persistence4/8 recent comparable periods
Coverage4/4 companies · 64 observations
Investor read: KDDL Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.
Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.
Net profitlargest
1KDDL Ltd KDDL₹136 Cr
2Ethos Ltd ETHOSLTD₹97 Cr
3Timex Group India Ltd TIMEX₹75 Cr
4Foce India Ltd FOCE⚠ unverified₹30 Cr
Profit growthfastest growers
1Timex Group India Ltd TIMEX100%
2Foce India Ltd FOCE⚠ unverified25%
3Ethos Ltd ETHOSLTD1.0%
4KDDL Ltd KDDL-4.9%
Net profit · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Net profit | Profit growth | Reported |
|---|---|---|---|
| KDDL Ltd KDDL | ₹35 Cr | 9.4% | Mar 2026 |
| Timex Group India Ltd TIMEX | ₹27 Cr | 200% | Mar 2026 |
| Ethos Ltd ETHOSLTD | ₹23 Cr | 0.0% | Mar 2026 |
| Foce India Ltd FOCE⚠ unverified | ₹9 Cr | 13% | Mar 2026 |
Full 20-quarter history · every available company
Net profit · reported quarter history
Ethos Ltd · ETHOSLTD
₹1 Cr
₹3 Cr
₹12 Cr
₹7 Cr
₹13 Cr
₹14 Cr
₹21 Cr
₹13 Cr
₹18 Cr
₹19 Cr
₹26 Cr
₹21 Cr
₹23 Cr
₹21 Cr
₹29 Cr
₹23 Cr
₹19 Cr
₹24 Cr
₹31 Cr
₹23 Cr
Foce India Ltd · FOCE⚠ unverified
—
₹3 Cr
—
₹6 Cr
—
₹6 Cr
—
₹2 Cr
—
₹5 Cr
—
₹11 Cr
—
₹7 Cr
—
₹8 Cr
—
₹6 Cr
—
₹9 Cr
KDDL Ltd · KDDL
—
—
—
—
—
—
₹31 Cr
₹21 Cr
₹33 Cr
₹33 Cr
₹37 Cr
₹35 Cr
₹28 Cr
₹36 Cr
₹47 Cr
₹32 Cr
₹30 Cr
₹33 Cr
₹38 Cr
₹35 Cr
Timex Group India Ltd · TIMEX
₹-5 Cr
₹11 Cr
₹-5 Cr
₹-5 Cr
₹12 Cr
₹19 Cr
₹-7 Cr
₹22 Cr
₹4 Cr
₹11 Cr
₹-1 Cr
₹7 Cr
₹2 Cr
₹18 Cr
₹2 Cr
₹9 Cr
₹15 Cr
₹30 Cr
₹3 Cr
₹27 Cr
Profit growth · reported quarter history
Ethos Ltd · ETHOSLTD
—
—
—
—
1,200%
367%
75%
86%
38%
36%
24%
62%
28%
11%
12%
9.5%
-17%
14%
6.9%
0.0%
Foce India Ltd · FOCE⚠ unverified
—
—
—
—
—
100%
—
-67%
—
-17%
—
450%
—
40%
—
-27%
—
-14%
—
13%
KDDL Ltd · KDDL
—
—
—
—
—
—
—
—
—
—
19%
67%
-15%
9.1%
27%
-8.6%
7.1%
-8.3%
-19%
9.4%
Timex Group India Ltd · TIMEX
—
—
—
—
—
73%
—
—
-67%
-42%
—
-68%
-50%
64%
—
29%
650%
67%
50%
200%
04 · compare level, then change
Capacity Spending & Returns On It
Ethos Ltd has the highest CAPEX among the 4 Watches companies compared here, at ₹24 crore. Foce India Ltd is next at ₹2 crore. The same company also holds the highest CAPEX intensity, at 10.2%. 2 of 4 companies report a comparable reading, the latest through Mar 2026. Its CAPEX series carries 5 reported observations across the 20-quarter window.
What the numbers say: Ethos Ltd reports ₹24 crore of CAPEX; Ethos Ltd has the highest covered intensity at 10.2%. Coverage is only 2 of 4 companies and 15 reported observations, so this is partial evidence—not a complete sector rank.
LeaderEthos Ltd · ₹24 crore
Gap12× versus #2 · Foce India Ltd
Persistence5/5 recent comparable periods
Coverage2/4 companies · 15 observations
Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.
This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.
CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.
CAPEXlargest spenders
1Ethos Ltd ETHOSLTD₹24 Cr
2Foce India Ltd FOCE⚠ unverified₹2 Cr
CAPEX intensityhighest reinvestment intensity
1Ethos Ltd ETHOSLTD10%
2Foce India Ltd FOCE⚠ unverified2.3%
Capital expenditure · company comparison
2/4 level · 2/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
Withheld from this chart: KDDL Ltd (KDDL) — its two data sources disagree by up to 40% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | CAPEX | CAPEX intensity | Reported |
|---|---|---|---|
| Ethos Ltd ETHOSLTD | ₹24 Cr | 10% | Mar 2026 |
| Foce India Ltd FOCE⚠ unverified | ₹2 Cr | 2.3% | Mar 2026 |
Full 20-quarter history · every available company
CAPEX · reported quarter history
Ethos Ltd · ETHOSLTD
—
—
₹3 Cr
₹16 Cr
₹1 Cr
—
—
—
₹9 Cr
₹24 Cr
—
—
—
—
—
—
—
—
—
—
Foce India Ltd · FOCE⚠ unverified
—
₹0 Cr
—
₹1 Cr
—
₹0 Cr
—
₹0 Cr
—
₹0 Cr
—
₹0 Cr
—
₹0 Cr
—
₹0 Cr
—
₹0 Cr
—
₹2 Cr
CAPEX intensity · reported quarter history
Ethos Ltd · ETHOSLTD
—
—
1.5%
10%
0.6%
—
—
—
3.9%
10%
—
—
—
—
—
—
—
—
—
—
Foce India Ltd · FOCE⚠ unverified
—
0.0%
—
1.2%
—
0.0%
—
0.0%
—
0.0%
—
0.0%
—
0.0%
—
0.0%
—
0.0%
—
2.3%
Annual capital allocation · 10-year view
4/4 capacity base · 4/4 OCF · 4/4 CAPEX · 4/4 FCF
Capacity base is net fixed assets plus capital work in progress, straight off the reported balance sheet. It is not cash spent, so it answers a narrower question than CAPEX — but it is reported for companies whose cash-flow CAPEX is not published, which is why it leads here. Missing years remain blank; annual values are never relabelled as quarters.
Full annual capacity base, operating cash flow, CAPEX and free cash flow history
Capacity base · net fixed assets + CWIP · fiscal-year history
Ethos Ltd · ETHOSLTD
—
—
₹27 Cr
₹126 Cr
₹117 Cr
₹130 Cr
₹201 Cr
₹239 Cr
₹432 Cr
₹505 Cr
Foce India Ltd · FOCE⚠ unverified
—
—
—
—
₹0 Cr
₹4 Cr
₹58 Cr
₹57 Cr
₹73 Cr
₹3 Cr
KDDL Ltd · KDDL
₹84 Cr
₹108 Cr
₹151 Cr
₹272 Cr
₹251 Cr
₹269 Cr
₹318 Cr
₹397 Cr
₹651 Cr
₹752 Cr
Timex Group India Ltd · TIMEX
₹8 Cr
₹7 Cr
₹8 Cr
₹23 Cr
₹20 Cr
₹17 Cr
₹17 Cr
₹15 Cr
₹12 Cr
₹11 Cr
Operating cash flow · fiscal-year history
Ethos Ltd · ETHOSLTD
—
—
₹-22 Cr
₹36 Cr
₹63 Cr
₹17 Cr
₹-2 Cr
₹31 Cr
₹-20 Cr
₹90 Cr
Foce India Ltd · FOCE⚠ unverified
—
—
—
—
₹3 Cr
₹-9 Cr
₹45 Cr
₹0 Cr
₹15 Cr
₹1 Cr
KDDL Ltd · KDDL
₹21 Cr
₹15 Cr
₹8 Cr
₹64 Cr
₹90 Cr
₹42 Cr
₹46 Cr
₹98 Cr
₹-4 Cr
₹144 Cr
Timex Group India Ltd · TIMEX
₹-23 Cr
₹-1 Cr
₹6 Cr
₹10 Cr
₹22 Cr
₹-18 Cr
₹10 Cr
₹32 Cr
₹-3 Cr
₹91 Cr
CAPEX · reported cash flow · fiscal-year history
Ethos Ltd · ETHOSLTD
—
—
—
₹132 Cr
₹24 Cr
₹45 Cr
₹106 Cr
₹87 Cr
₹256 Cr
₹162 Cr
Foce India Ltd · FOCE⚠ unverified
—
—
—
—
—
₹4 Cr
₹54 Cr
₹-1 Cr
₹16 Cr
₹-70 Cr
KDDL Ltd · KDDL
₹14 Cr
₹36 Cr
₹56 Cr
₹169 Cr
₹25 Cr
₹63 Cr
₹98 Cr
₹144 Cr
₹340 Cr
₹223 Cr
Timex Group India Ltd · TIMEX
₹-2 Cr
₹1 Cr
₹3 Cr
₹18 Cr
₹1 Cr
₹1 Cr
₹4 Cr
₹2 Cr
₹0 Cr
₹2 Cr
Free cash flow · fiscal-year history
Ethos Ltd · ETHOSLTD
—
—
—
₹-96 Cr
₹39 Cr
₹-28 Cr
₹-108 Cr
₹-56 Cr
₹-276 Cr
₹-72 Cr
Foce India Ltd · FOCE⚠ unverified
—
—
—
—
—
₹-13 Cr
₹-9 Cr
₹1 Cr
₹-1 Cr
₹71 Cr
KDDL Ltd · KDDL
₹7 Cr
₹-21 Cr
₹-48 Cr
₹-105 Cr
₹65 Cr
₹-21 Cr
₹-52 Cr
₹-46 Cr
₹-344 Cr
₹-79 Cr
Timex Group India Ltd · TIMEX
₹-21 Cr
₹-2 Cr
₹3 Cr
₹-8 Cr
₹21 Cr
₹-19 Cr
₹6 Cr
₹30 Cr
₹-3 Cr
₹89 Cr
05 · compare level, then change
Debt Load & Balance-Sheet Headroom
Foce India Ltd has the lowest Gross debt among the 4 Watches companies compared here, at ₹48 crore. Timex Group India Ltd is next at ₹71 crore. Ethos Ltd has the lowest Net debt at ₹340 crore net cash, so level and change sit with different companies. 4 of 4 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Ethos Ltd has the clearest covered balance-sheet capacity with ₹340 crore net cash and gross debt of ₹322 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.
LeaderFoce India Ltd · ₹48 crore
Gap32.4% versus #2 · Timex Group India Ltd
Persistence0/8 recent comparable periods
Coverage4/4 companies · 53 observations
Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.
This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.
Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.
Gross debtlowest gross debt
1Foce India Ltd FOCE⚠ unverified₹48 Cr
2Timex Group India Ltd TIMEX₹71 Cr
3Ethos Ltd ETHOSLTD₹322 Cr
4KDDL Ltd KDDL₹512 Cr
Net debtlowest net debt
1Ethos Ltd ETHOSLTD₹-340 Cr
2Timex Group India Ltd TIMEX₹2 Cr
3Foce India Ltd FOCE⚠ unverified₹47 Cr
Debt and balance-sheet capacity · company comparison
4/4 level · 3/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Gross debt | Net debt | Reported |
|---|---|---|---|
| KDDL Ltd KDDL | ₹512 Cr | — | Mar 2026 |
| Ethos Ltd ETHOSLTD | ₹322 Cr | ₹-340 Cr | Mar 2026 |
| Timex Group India Ltd TIMEX | ₹71 Cr | ₹2 Cr | Mar 2026 |
| Foce India Ltd FOCE⚠ unverified | ₹48 Cr | ₹47 Cr | Mar 2026 |
Full 20-quarter history · every available company
Gross debt · reported quarter history
Ethos Ltd · ETHOSLTD
—
₹148 Cr
₹180 Cr
₹161 Cr
₹161 Cr
₹102 Cr
₹102 Cr
₹121 Cr
₹141 Cr
₹141 Cr
₹141 Cr
₹145 Cr
₹145 Cr
₹180 Cr
₹180 Cr
₹289 Cr
₹289 Cr
₹314 Cr
₹314 Cr
₹322 Cr
Foce India Ltd · FOCE⚠ unverified
—
—
—
₹2 Cr
—
₹4 Cr
—
₹18 Cr
—
₹26 Cr
—
₹22 Cr
—
₹24 Cr
—
₹30 Cr
—
₹43 Cr
—
₹48 Cr
KDDL Ltd · KDDL
—
—
—
₹265 Cr
—
—
—
₹246 Cr
—
—
—
₹250 Cr
—
—
—
₹453 Cr
—
₹467 Cr
—
₹512 Cr
Timex Group India Ltd · TIMEX
₹15 Cr
₹23 Cr
₹23 Cr
₹111 Cr
₹35 Cr
₹31 Cr
₹31 Cr
₹110 Cr
₹36 Cr
₹18 Cr
—
₹86 Cr
₹12 Cr
₹11 Cr
₹11 Cr
₹101 Cr
₹42 Cr
₹13 Cr
₹42 Cr
₹71 Cr
Net debt · reported quarter history
Ethos Ltd · ETHOSLTD
—
₹109 Cr
₹106 Cr
₹123 Cr
₹123 Cr
₹-163 Cr
₹-163 Cr
₹-103 Cr
₹-68 Cr
₹-38 Cr
₹-38 Cr
₹-190 Cr
₹-200 Cr
₹-91 Cr
₹-91 Cr
₹95 Cr
₹69 Cr
₹-481 Cr
₹-481 Cr
₹-340 Cr
Foce India Ltd · FOCE⚠ unverified
—
—
—
₹2 Cr
—
₹4 Cr
—
₹17 Cr
—
₹24 Cr
—
₹18 Cr
—
₹23 Cr
—
₹29 Cr
—
₹42 Cr
—
₹47 Cr
Timex Group India Ltd · TIMEX
₹14 Cr
₹22 Cr
₹22 Cr
₹35 Cr
₹35 Cr
₹29 Cr
₹29 Cr
₹35 Cr
₹35 Cr
₹18 Cr
—
₹8 Cr
₹8 Cr
₹-13 Cr
₹-13 Cr
—
—
₹-10 Cr
₹-10 Cr
₹2 Cr
06 · compare level, then change
Return On Capital Employed
Timex Group India Ltd has the highest ROCE among the 4 Watches companies compared here, at 82.8%. Foce India Ltd is next at 16.1%. The same company also holds the highest ROCE change, at +33.7 percentage points. 4 of 4 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Timex Group India Ltd leads ROCE at 82.8%, 66.7 percentage points above Foce India Ltd. Timex Group India Ltd has the strongest latest improvement at +33.7 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.
LeaderTimex Group India Ltd · 82.8%
Gap414.3% versus #2 · Foce India Ltd
Persistence7/8 recent comparable periods
Coverage4/4 companies · 41 observations
Investor read: Timex Group India Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.
This conclusion weakens if: The next two comparable reports reverse the current roce change signal.
ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.
ROCEhighest
1Timex Group India Ltd TIMEX83%
2Foce India Ltd FOCE⚠ unverified16%
3KDDL Ltd KDDL11%
4Ethos Ltd ETHOSLTD9.8%
ROCE changefastest improvers
1Timex Group India Ltd TIMEX+33.7 pp
2KDDL Ltd KDDL−3.0 pp
3Foce India Ltd FOCE⚠ unverified−3.1 pp
4Ethos Ltd ETHOSLTD−4.4 pp
Return on capital · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
Withheld from this chart: KDDL Ltd (KDDL) — its two data sources disagree by up to 40% on reported income across 14 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | ROCE | ROCE change | Reported |
|---|---|---|---|
| Timex Group India Ltd TIMEX | 67% | +33.7 pp | Mar 2026 |
| Foce India Ltd FOCE⚠ unverified | 20% | −3.1 pp | Mar 2026 |
| Ethos Ltd ETHOSLTD | 6.1% | −4.4 pp | Mar 2026 |
Full 20-quarter history · every available company
ROCE · reported quarter history
Ethos Ltd · ETHOSLTD
—
4.1%
11%
11%
—
10%
—
11%
11%
12%
16%
11%
15%
11%
16%
11%
13%
6.8%
11%
6.1%
Foce India Ltd · FOCE⚠ unverified
—
—
—
27%
—
30%
—
22%
—
18%
—
31%
—
30%
—
23%
—
21%
—
20%
Timex Group India Ltd · TIMEX
—
42%
—
16%
—
44%
—
40%
—
24%
34%
28%
30%
32%
40%
34%
54%
47%
59%
67%
ROCE change · reported quarter history
Ethos Ltd · ETHOSLTD
—
—
—
—
—
+6.0 pp
—
+0.8 pp
—
+1.9 pp
—
−0.9 pp
+3.9 pp
−1.5 pp
+0.2 pp
0.0 pp
−2.1 pp
−3.7 pp
−5.4 pp
−4.4 pp
Foce India Ltd · FOCE⚠ unverified
—
—
—
—
—
—
—
−5.8 pp
—
−11.8 pp
—
+9.3 pp
—
+12.3 pp
—
−7.7 pp
—
−9.6 pp
—
−3.1 pp
Timex Group India Ltd · TIMEX
—
—
—
—
—
+2.9 pp
—
+24.7 pp
—
−20.5 pp
—
−12.3 pp
—
+7.6 pp
+6.5 pp
+5.5 pp
+23.5 pp
+15.3 pp
+19.3 pp
+33.7 pp
07 · compare level, then change
Valuation Against Growth & Quality
Timex Group India Ltd has the lowest Guarded PEG among the 4 Watches companies compared here, at 1.43×. Ethos Ltd is next at 5.5×. KDDL Ltd has the lowest P/E at 43.2×, so level and change sit with different companies. 2 of 4 companies report a comparable reading, the latest through Mar 2026.
What the numbers say: Timex Group India Ltd has the lowest comparable Guarded PEG at 1.43×, 74% below Ethos Ltd. Only 2 of 4 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.
LeaderTimex Group India Ltd · 1.43×
Gap74% versus #2 · Ethos Ltd
Persistence0/8 recent comparable periods
Coverage2/4 companies · 12 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/e signal.
PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.
Guarded PEGlowest PEG
1Timex Group India Ltd TIMEX1.4
2Ethos Ltd ETHOSLTD5.5
P/Elowest P/E
1KDDL Ltd KDDL43.2
2Foce India Ltd FOCE⚠ unverified47.0
3Ethos Ltd ETHOSLTD71.4
4Timex Group India Ltd TIMEX73.7
Valuation · company comparison
2/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | Guarded PEG | P/E | Reported |
|---|---|---|---|
| Ethos Ltd ETHOSLTD | 5.5 | 61.2 | Mar 2026 |
| Timex Group India Ltd TIMEX | 1.4 | 43.9 | Mar 2026 |
| KDDL Ltd KDDL | — | 30.4 | Mar 2026 |
| Foce India Ltd FOCE⚠ unverified | — | 45.7 | Mar 2026 |
Full 20-quarter history · every available company
Guarded PEG · reported quarter history
Ethos Ltd · ETHOSLTD
—
—
—
—
—
—
1.1
0.9
3.2
—
1.9
1.7
4.3
3.4
8.2
13.1
5.5
—
—
—
Timex Group India Ltd · TIMEX
—
—
—
—
—
—
—
—
—
—
—
1.0
—
—
—
—
1.4
—
—
—
P/E · reported quarter history
Ethos Ltd · ETHOSLTD
—
—
—
—
52.8
83.5
49.2
41.8
59.0
66.0
72.8
85.8
85.5
97.2
91.5
68.0
71.8
74.1
84.5
61.2
Foce India Ltd · FOCE⚠ unverified
—
—
—
10.9
—
28.2
—
16.2
—
45.1
—
42.6
—
50.6
—
48.7
—
60.2
—
45.7
KDDL Ltd · KDDL
78.5
25.4
48.6
39.6
27.6
28.0
35.2
27.7
32.4
38.8
39.6
33.0
39.4
40.2
39.9
43.7
32.5
34.5
30.9
30.4
Timex Group India Ltd · TIMEX
—
87.3
63.5
132.7
193.9
53.9
53.6
46.4
34.1
39.8
54.2
38.3
73.1
74.0
78.4
53.3
72.8
79.1
63.3
43.9
08 · compare level, then change
Enterprise Value & Book Value
KDDL Ltd has the lowest EV/EBITDA among the 4 Watches companies compared here, at 6.2×. Ethos Ltd is next at 23×. The same company also holds the lowest P/BV, at 3.57×. 4 of 4 companies report a comparable reading, the latest through Mar 2026. Its EV/EBITDA series carries 20 reported observations across the 20-quarter window.
What the numbers say: KDDL Ltd leads both ev/ebitda at 6.2× and p/bv at 3.57×.
LeaderKDDL Ltd · 6.2×
Gap73% versus #2 · Ethos Ltd
Persistence0/8 recent comparable periods
Coverage4/4 companies · 64 observations
Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.
This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.
EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.
EV/EBITDAlowest EV/EBITDA
1KDDL Ltd KDDL6.2
2Ethos Ltd ETHOSLTD23.0
3Timex Group India Ltd TIMEX28.9
4Foce India Ltd FOCE⚠ unverified35.8
P/BVlowest P/BV
1KDDL Ltd KDDL3.6
2Ethos Ltd ETHOSLTD4.6
3Foce India Ltd FOCE⚠ unverified7.5
4Timex Group India Ltd TIMEX77.5
Enterprise and book valuation · company comparison
4/4 level · 4/4 change
Solid lines show level; dotted lines show change when “Both” is selected. Missing reports break the line rather than being invented.
All-company data · latest reported quarter
Each figure is the company’s latest single reported quarter. The rankings above use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.
| Company | EV/EBITDA | P/BV | Reported |
|---|---|---|---|
| Foce India Ltd FOCE⚠ unverified | 35.8 | 7.2 | Mar 2026 |
| Timex Group India Ltd TIMEX | 28.9 | 21.8 | Mar 2026 |
| Ethos Ltd ETHOSLTD | 23.0 | 4.2 | Mar 2026 |
| KDDL Ltd KDDL | 6.2 | 2.4 | Mar 2026 |
Full 20-quarter history · every available company
EV/EBITDA · reported quarter history
Ethos Ltd · ETHOSLTD
—
—
—
—
35.2
26.4
21.0
20.4
28.4
30.4
35.6
41.1
40.7
45.2
42.4
31.0
31.6
32.4
33.6
23.0
Foce India Ltd · FOCE⚠ unverified
—
—
—
8.6
—
22.8
—
13.4
—
35.5
—
34.3
—
40.7
—
40.3
—
47.6
—
35.8
KDDL Ltd · KDDL
8.4
7.6
12.5
11.5
8.9
7.5
8.4
9.0
10.6
12.4
14.8
12.1
14.5
12.4
12.0
13.2
10.5
10.2
8.0
6.2
Timex Group India Ltd · TIMEX
—
118.0
47.0
66.0
82.5
43.1
44.2
38.8
44.3
51.0
60.8
44.3
46.3
46.1
49.7
34.1
48.0
53.1
42.0
28.9
P/BV · reported quarter history
Ethos Ltd · ETHOSLTD
—
—
—
—
8.0
4.0
4.2
4.0
5.6
6.9
7.7
10.0
10.9
9.8
8.9
6.9
7.8
7.0
5.6
4.2
Foce India Ltd · FOCE⚠ unverified
—
—
—
2.5
—
5.6
—
4.3
—
7.9
—
6.5
—
12.5
—
12.0
—
11.0
—
7.2
KDDL Ltd · KDDL
2.4
2.9
5.5
5.6
4.7
2.7
3.0
5.2
6.9
5.6
7.1
6.1
8.9
5.2
4.3
4.7
4.5
3.6
2.8
2.4
Timex Group India Ltd · TIMEX
-7.3
-7.1
48.0
35.3
-9.8
23.8
32.3
-20.2
-26.2
-110.6
22.2
18.3
-109.1
207.5
22.9
17.6
338.1
136.7
29.8
21.8
09 · let price answer last
Market action
Timex Group India Ltd has the strongest one-year price move in Watches at +138.6%. It also leads on Mansfield relative strength against NIFTY at +51.3%. 3 of 4 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.
Every price line is indexed to 100 over the chosen window. Mansfield relative strength compares a price ratio with its own 52-week average; zero separates leadership from lagging.
Price and relative strength
Price is rebased to 100 inside the selected window. Pair ratio rebases each selected company against one chosen denominator.
Before the conclusion · check the blind spots
What can make this comparison misleading?
This Watches comparison names 7 specific ways its own evidence can mislead, all listed below. All 4 companies here report on comparable dates, so no rank carries a stale marker. 1 draws at least one figure from a second feed with too little overlap to cross-check. 1 has second-feed figures withheld because the two sources disagree.
Keep these limits visible
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company draws at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; it is marked unverified wherever that figure appears.
- 1 company is missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.
- Thin comparisons: Capital expenditure, Valuation have fewer than three usable current readings.
10 · the complete set
Which companies are included?
All 4 companies in the canonical Watches membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.
AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.
| Company | Market value | Price | Priced to | Latest fundamentals | Source standing |
|---|---|---|---|---|---|
| Ethos Ltd ETHOSLTD | ₹6.9K Cr | ₹2,563 | 2026-07-19 | Mar 2026 | Cross-checked |
| Timex Group India Ltd TIMEXAHEAD | ₹5.8K Cr | ₹579 | 2026-07-19 | Mar 2026 | Cross-checked |
| KDDL Ltd KDDLAHEAD21/26 WEEKS | ₹3.9K Cr | ₹3,135 | 2026-07-19 | Mar 2026 | Second feed withheld |
| Foce India Ltd FOCEAHEAD⚠ unverified | ₹703 Cr | ₹599 | 2026-07-19 | Mar 2026 | Includes unverified figures |
How each company's sources stand: 1 of 4 companies draws at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear. 1 of 4 companies has a second data feed that is known to disagree with the primary source, so nothing from it is drawn: KDDL Ltd (KDDL) — its two data sources disagree by up to 40% on reported income across 14 comparable periods, so its derived ratios are withheld.
Evidence and freshness
How was this comparison built?
This comparison is built from the reported filings of 4 Watches companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.
FundamentalsThrough Mar 2026 · up to 20 quarters per company
Market dataThrough 2026-07-24 · weekly price and relative-strength history
Derived metricsGrowth, changes, CAPEX intensity, net debt, guarded PEG and P/BV÷ROE are calculated only when their inputs are comparable.
Score confidenceMissing and stale evidence reduces confidence and pulls the 0–100 research-priority score toward neutral.
Source standing2 cross-checked · 1 unverified · 1 withheld, of 4 graded companies.
A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.
Questions investors ask · short, speakable answers
Watches company comparison FAQs
These 18 answers restate the Watches comparison above in question form. Every one is computed from the same 4 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.
What is the Nifty Watches index?
The Nifty Watches index tracks India's listed Watches companies as a single basket. This page follows the same 4 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Watches sector rather than to its largest constituent. Figures are as of Mar 2026.
Which are the best Watches stocks in India?
Ranked by this page's four-factor score, Timex Group India Ltd places first among 4 listed Watches companies, followed by Foce India Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Mar 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.
How many Watches stocks are listed in India?
This comparison covers 4 listed Watches companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Mar 2026.
Which Watches company is the biggest?
KDDL Ltd is the largest, with trailing-twelve-month revenue of ₹2,154 crore, ahead of Ethos Ltd at ₹1,612 crore. That covers 4 of 4 companies with comparable reporting through Mar 2026.
Which Watches company is growing fastest?
Foce India Ltd has the fastest revenue growth at 81.2% year on year, across 4 of 4 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.
Which Watches company has the best profit margins?
Timex Group India Ltd has the highest operating margin at 17%, from 4 of 4 comparable companies. Timex Group India Ltd shows the biggest recent improvement, at +6 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.
Which Watches company makes the most profit?
KDDL Ltd earns the most, at ₹136 crore of trailing-twelve-month net profit, from 4 of 4 comparable companies. Timex Group India Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.
Which Watches company earns the highest return on capital?
Timex Group India Ltd leads on return on capital employed at 82.8%, across 4 of 4 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.
Which Watches stock is the cheapest?
On guarded PEG — where a LOWER number is cheaper — Timex Group India Ltd screens cheapest at 1.43×. Only 2 of 4 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.
Which Watches company has the strongest balance sheet?
Foce India Ltd carries the lowest comparable gross debt at ₹48 crore, from 4 of 4 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.
Which Watches company is investing most in new capacity?
Ethos Ltd reports the largest capital spending at ₹24 crore, across 2 of 4 companies. Spending consumes cash before it earns anything, so treat the ranking as a diligence queue: check commissioning, utilisation and the return earned on the completed assets before reading spend as value creation.
Which Watches stock has the strongest price momentum?
Timex Group India Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.
Which Watches company scores highest for research priority?
Timex Group India Ltd scores 81.4 out of 100 with 94% evidence confidence, from 32.7 points on growth and earnings, 18.1 on capital efficiency, 10.6 on valuation and 20 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.
How many Watches companies does this comparison cover, and over what period?
It compares 4 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Mar 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.
What is the total market cap of the Watches sector?
The 4 Watches companies on this page carry ₹17,259 crore of combined market value. Ethos Ltd is the largest at ₹6,857 crore, about 40% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.
How is the Watches sector performing?
3 of the 4 covered Watches companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.
Why are some values on this page blank?
A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.
Is this investment advice?
No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.