Timex Group India Ltd
TIMEXTimex Group India Ltd's earnings have outrun its stock. EPS grew +140.2% in a year against a +116.3% price move.
The sharpest disagreement: Promoters moved −23.9 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced.
The price is in a confirmed uptrend (12 weeks in) while the P/E sits at the 53rd percentile of its own 9-year range. Underneath, the last four quarters read improving — profit +66.7% year on year, and 94% of the last 3 years' profit arrived as cash. What settles it: whether the register turns back in the story’s favour.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Timex Group India Ltd trades at ₹529, in a confirmed uptrend and 12 weeks into that stage. That is +38.1% against its own 200-day average. It sits at 85% of a 52-week range of ₹258 to ₹579. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 21 straight weeks.
Today the stock is in a confirmed uptrend — week 12 of stage 2, confirmed. At ₹529 it trades +38.1% versus its 200-day average and sits at 85% of its 52-week range (₹258–₹579).
Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +1,701% while the NIFTY 500 moved +276% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 21 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Timex Group India Ltd trades at 60.2× P/E, mid-range by its own standards (53rd percentile). Its long-run median P/E is 59.1×, measured across 8.8 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 60.2× is mid-range by its own standards (53rd percentile), against a long-run median of 59.1× measured over 8.8 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +140.2% against a +116.3% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 3y, of the +50.2%/yr price move, ~+24.2%/yr came from earnings growth and ~+26.0 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Timex Group India Ltd reads as mixed on its fundamental arc. Mixed — growth is normalizing off a hyper-growth base: profit growth has eased from +115.4% at its peak to +93.2% but is still expanding, ROCE lifting at 72.1%. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +48.5% | +27.8% | +41.5% | +16.5% |
| Profit | +141.9% | +16.9% | — | — |
| EPS | +140.2% | +17.5% | — | — |
| Share price | +116.3% | +50.2% | +61.0% | +29.2% |
4-Factor Sector Score
82.7/100 — rank 1 of 4 in Watches · 97% evidence confidence
Timex Group India Ltd scores 82.7 out of 100 against the 4 companies it is compared with in Watches, ranking 1. Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
The four contributions add to the total exactly: 33.8 + 18.3 + 10.6 + 20 = 82.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Timex Group India Ltd reported ₹219 Cr of revenue in the Jun 26 quarter, +29.6% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 16.5% a year. The last full year, FY26, came in at ₹799 Cr. The last four reported quarters add to ₹849 Cr.
FY26 revenue came in at ₹799 Cr (+48.5% on the year), capping 10 years at 16.5% compound. The latest quarter (Jun 26) printed ₹219 Cr, +29.6% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +42.4% growth against the decade's 16.5% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +42.0% over the last 4 quarters against +42.0%/yr over the last 8 — stabilising; TTM profit +93.2% vs +111.5%/yr — rolling over.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Timex Group India Ltd's operating margin is 16.0% in the Jun 26 quarter, +3.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 13 fiscal years the operating margin has ranged −24.0% to 14.0%. The current quarter is running above every full year in that window.
The latest quarter's operating margin is 16.0%, +3.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged −24.0%–14.0%, and FY26's 14.0% is the top of that band — a record year.
Why the margin moved: operating margin went +3.3 pp year on year while gross margin went +1.4 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.
Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Timex Group India Ltd earned ₹25.0 Cr of net profit in the Jun 26 quarter, +66.7% year on year. It is the 6th consecutive quarter of growth. Full-year FY26 profit was ₹75.0 Cr. That is 11.4% of the quarter's revenue. The same quarter a year earlier earned ₹15.0 Cr. 1 of the last 12 reported quarters were loss-making.
Jun 26 profit was ₹25.0 Cr, +66.7% year on year — the 6th consecutive quarter of growth. On the full year, FY26 printed ₹75.0 Cr (+141.9%).
Why profit moved: revenue contributed +29.6% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +95.8% vs revenue +42.4%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 94% of Timex Group India Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹91.0 Cr of operating cash against ₹75.0 Cr of profit. After ₹2.0 Cr of capital spending, ₹89.0 Cr was left as free cash.
FY26: operating cash of ₹91.0 Cr against reported profit of ₹75.0 Cr, leaving free cash of ₹89.0 Cr after ₹2.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 94% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 94%: the cash cycle stretched 103 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving.
Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Timex Group India Ltd's cash conversion cycle runs 88 days in FY26, up from −15 days in FY21. Capital spending ran ₹4.0 Cr over the last 3 years. At FY26 sales of ₹799 Cr each day of that cycle holds about ₹2.2 Cr, so roughly ₹193 Cr sits inside the business at any moment.
FY26: debtors at 27 days, inventory at 158 days — roughly 5.2 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 88 days, looser than FY21's −15.
The full loop: cash goes out to suppliers and production on day 0; stock waits 158 days to sell; customers pay about 27 days after that; and suppliers themselves are paid at 97 days — netting out to the 88-day cycle.
In money terms: at FY26 sales of ₹799 Cr, each day of the cycle holds about ₹2.2 Cr — so the 88-day loop keeps roughly ₹193 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹4.0 Cr over the last 3 fiscal years against ₹10.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Timex Group India Ltd earns a ROCE of 83% in FY26. That is up from a trough of −115% in FY14. Return on invested capital clears the cost of that capital by +68.2 percentage points, so growth here adds value rather than only size. The wiring behind it is 9.4% net margin on 2.36× asset turns.
FY26 ROCE is 83%, recovered from a FY14 trough of −115% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 9.4% net margin × 2.36× asset turns × 4.51× balance-sheet leverage ≈ 100.0% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 80.2% − 12.0% = a +68.2 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Timex Group India Ltd carries total debt of ₹36.0 Cr against shareholder equity of ₹111 Cr as of Mar 26, a debt-to-equity of 0.32. On the annual view that ratio went from 2.19 in FY22 to 0.32 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Mar 26: total debt of ₹36.0 Cr against shareholder equity of ₹111 Cr — a debt-to-equity of 0.32. On the annual view, debt-to-equity went from 2.19 (FY22) to 0.32 (FY26). Read the returns on this page with that leverage in mind.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Promoters cut 23.9 points of Timex Group India Ltd over 8 quarters, the biggest move on the register. That takes promoters to 51.0% of the company. Foreign institutions moved +2.0 points over the same window, to 2.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Promoters: −23.9 points over 8 quarters to 51.0%; Foreign institutions: +2.0 points over 8 quarters to 2.5%; Domestic institutions: +1.2 points over 8 quarters to 1.4%.
🚨 Why the register moved: promoters drove it (−23.9 points), absorbed on the other side by foreign institutions (+2.0 points) — distribution into the market’s bid.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Timex Group India Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Timex Group India Ltdthis pageTIMEX | 82.7/100Sector-leading setup97% evidence | LEADER | 33.8/35 Revenue 42% · PAT 93.2% · OPM change 3 pp 100% evidence | 18.3/25 ROCE 82.8% · OPM 16% 100% evidence | 10.6/20 P/E 60.2× · PEG 1.43 85% evidence | 20.0/20 RS sector 27.5% · RS bench 44.1% · 1Y 149.7%12 of 12 weeks ahead 100% evidence |
| Exact sum: 33.8 + 18.3 + 10.6 + 20 = 82.7 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Foce India LtdFOCE | 55.2/100Mixed-positive evidence61% evidence | ASLEEP | 18.8/35 Revenue 81.2% · PAT 25% · OPM change 0 pp 48% evidence | 15.2/25 ROCE 16.1% · OPM 14% 95% evidence | 9.2/20 P/E 40.3× · PEG — 35% evidence | 12.0/20 RS sector 26.4% · RS bench -25.4% · 1Y -37.7%1 of 10 weeks ahead 70% evidence |
| Exact sum: 18.8 + 15.2 + 9.2 + 12 = 55.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3KDDL LtdKDDL | 53.1/100Mixed-positive evidence75% evidence | LEADER | 13.6/35 Revenue 30.7% · PAT -4.9% · OPM change 0 pp 83% evidence | 11.9/25 ROCE 11.2% · OPM 15% 76% evidence | 7.6/20 P/E 45.5× · PEG — 35% evidence | 20.0/20 RS sector 11.5% · RS bench 27.4% · 1Y 15%11 of 12 weeks ahead 100% evidence |
| Exact sum: 13.6 + 11.9 + 7.6 + 20 = 53.1 · Decision use: Price leads the evidence: RS versus the benchmark is 27.4%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 4Ethos LtdETHOSLTD | 26.2/100Adverse evidence93% evidence | TURNING | 11.2/35 Revenue 28.9% · PAT 1% · OPM change -3 pp 88% evidence | 7.4/25 ROCE 9.8% · OPM 12% 100% evidence | 5.6/20 P/E 71.8× · PEG 5.5 85% evidence | 2.0/20 RS sector -14.3% · RS bench -1.4% · 1Y -10%4 of 12 weeks ahead 100% evidence |
| Exact sum: 11.2 + 7.4 + 5.6 + 2 = 26.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Timex Group India Ltd's share price today?
Timex Group India Ltd trades at ₹529, +116.3% over the past year. The company is valued at ₹5,371 Cr. The stock sits at 85% of its 52-week range of ₹258–₹579, +38.1% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 12 weeks in. — as of 31 July 2026.
What were Timex Group India Ltd's latest quarterly results?
Timex Group India Ltd reported revenue of ₹219 Cr and net profit of ₹25.0 Cr for the Jun 26 quarter. Revenue rose 29.6% and profit rose 66.7% year on year. Earnings per share were ₹2.48. The operating margin was 16.0%, 3.0 pp higher than a year earlier. — as of 31 July 2026.
What is Timex Group India Ltd's revenue?
Timex Group India Ltd reported revenue of ₹219 Cr in the Jun 26 quarter, +29.6% year on year. For the full FY26 fiscal year, revenue was ₹799 Cr (+48.5%). Over the last 10 years revenue compounded at 16.5% a year. — as of 31 July 2026.
What is Timex Group India Ltd's profit?
Timex Group India Ltd earned ₹25.0 Cr of net profit in the Jun 26 quarter, +66.7% year on year — the 6th straight quarter of growth. Full-year FY26 profit was ₹75.0 Cr. The operating margin ran 16.0% in the latest quarter. — as of 31 July 2026.
What is Timex Group India Ltd's market cap?
Timex Group India Ltd's market capitalisation is ₹5,371 Cr at a share price of ₹529. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 31 July 2026.
What is Timex Group India Ltd's P/E ratio?
Timex Group India Ltd trades at a P/E of 60.2×, at the 53rd percentile of its own 9-year range, against a long-run median of 59.1×. This is a comparison with the stock's own history, not a value call — as of 31 July 2026.
Does Timex Group India Ltd pay a dividend?
No — Timex Group India Ltd has recorded a dividend payout of 0% of profit in each of its last 13 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 31 July 2026.
Is Timex Group India Ltd overvalued?
On its own history, Timex Group India Ltd looks mid-range against its own history: its P/E of 60.2× sits at the 53rd percentile of its 9-year range (long-run median 59.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 31 July 2026.
Is Timex Group India Ltd growing?
Yes — Timex Group India Ltd is growing: latest-quarter revenue +29.6% year on year, profit +66.7%, and the margin +3.0 pp at 16.0%. The earnings engine currently reads: improving — as of 31 July 2026.
How is Timex Group India Ltd performing?
Timex Group India Ltd is in a confirmed uptrend, 12 weeks in. Its latest quarter's revenue rose 29.6% and profit rose 66.7% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 21 weeks. This describes what the data did, not a rating. — as of 31 July 2026.
What stage is Timex Group India Ltd in?
Mixed — growth is normalizing off a hyper-growth base: profit growth has eased from +115.4% at its peak to +93.2% but is still expanding, ROCE lifting at 72.1%. The read comes from the last 12 quarters of growth (revenue growth +42.0% latest, profit growth +93.2% latest, eps growth +96.8% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 31 July 2026.
Is Timex Group India Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 12 of stage 2), trading +38.1% versus its 200-day average and at 85% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 31 July 2026.
Is Timex Group India Ltd beating the market?
On recent form, yes — Timex Group India Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 21 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.4 years the stock moved +1,701% against the NIFTY 500's +276% — ahead of the index over the full window. — as of 31 July 2026.
Will Timex Group India Ltd's share price go up?
This page publishes no price forecast for Timex Group India Ltd. What it measures instead: the share price is ₹529, the price is in a confirmed uptrend 12 weeks in. Its P/E of 60.2× sits at the 53rd percentile of its own 9-year range. — as of 31 July 2026.
Who owns Timex Group India Ltd?
Promoters hold 51.0% of Timex Group India Ltd, foreign institutions 2.5%, domestic institutions 1.4% and the public 45.1% (latest quarter). The biggest move on the register over the last two years: Promoters cut 23.9 points over 8 quarters. — as of 31 July 2026.
Does Timex Group India Ltd have too much debt?
It is moderate — Timex Group India Ltd's debt-to-equity is 0.95, and operating profit covers the interest bill 19×. FY26 borrowings were ₹71.0 Cr against equity of ₹75.0 Cr. Read the returns on this page with that leverage in mind — as of 31 July 2026.
What is Timex Group India Ltd's capex?
Timex Group India Ltd spent ₹4.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹2.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 31 July 2026.
What is Timex Group India Ltd's cash flow?
Timex Group India Ltd generated ₹91.0 Cr of operating cash flow in FY26 and ₹89.0 Cr of free cash flow after ₹2.0 Cr of capital spending. Reported profit that year was ₹75.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 31 July 2026.
Is Timex Group India Ltd's profit real cash?
Yes — over the last 3 fiscal years, 94% of Timex Group India Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹91.0 Cr against reported profit of ₹75.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 31 July 2026.
Where is Timex Group India Ltd in its business cycle?
Timex Group India Ltd's FY26 operating margin was 14.0%, against a 13-year band of −24.0%–14.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 16.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 31 July 2026.
What could break the Timex Group India Ltd story?
The sharpest disagreement: Promoters moved −23.9 points over 8 quarters while the operating story went the other way — someone close to the numbers is not convinced. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 31 July 2026.
Is Timex Group India Ltd a stock worth studying right now?
This is not investment advice. The machine read: Timex Group India Ltd's earnings have outrun its stock. EPS grew +140.2% in a year against a +116.3% price move. The sharpest open question: whether the register turns back in the story’s favour. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 31 July 2026.