Timex Group board to consider ₹18.20 crore dividend

Timex Group India Limited has announced that its board of directors will meet on May 26, 2026. The primary agenda includes the consideration and approval of the audited financial results for the year ended March 31, 2026, and the financial results for the quarter and year ended March 31, 2026.

In addition to the financial results, the board will consider the recommendation of a final dividend on preference shares. The total dividend amount proposed stands at ₹18,20,97,361 across three different categories of preference shares.

Dividend Details

The dividend recommendation covers Non-Cumulative Redeemable Non-Convertible Preference Shares and Cumulative Redeemable Non-Convertible Preference Shares issued on various dates. The table below outlines the specific details regarding the dividend distribution:

Sl. No.	Nature of Shares	Date of Issue	Number of Shares	Rate of Dividend	Amount of Dividend
1	Non-Cumulative Redeemable Non-Convertible Preference Shares	November 22, 2022	25,00,000	0.09%	₹22,500
2	Cumulative Redeemable Non-Convertible Preference Shares	February 16, 2017	3,50,00,000	5%	₹14,00,00,000
3	Cumulative Redeemable Non-Convertible Preference Shares	October 25, 2024	2,73,15,264	10.75%	₹4,20,74,861
Total					₹18,20,97,361

Trading Window Closure

Pursuant to the company's Code of Conduct framed in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in shares of the company for designated persons remains closed. The window closed on April 1, 2026, and will remain shut until May 28, 2026, which is 48 hours after the conclusion of the board meeting.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.09%	+8.88%	+14.54%	+17.67%	+17.67%	+17.67%

Timex Group India Limited has received an appellate order (Form GST APL-04) from the Additional Commissioner, Appellate Authority, CBIC, Chandigarh, pertaining to an order-in-appeal dated February 10, 2026, issued by the Office of the Commissioner (Appeals), Central Goods & Services Tax Appeals Commissionerate, Chandigarh. The order was received by the company on May 12, 2026, and relates to a matter that has been remanded back for reassessment against Order No. 07/GST/AC/Div Baddi/2024-25 dated July 30, 2024, passed by the Assistant Commissioner, CGST Division, Baddi. The company made this disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in reference to its earlier letters dated January 3, 2024, August 1, 2024, and February 18, 2026.

Appellate Authority Partially Allows Appeal

The Appellate Authority has partially allowed the appeal in favour of Timex Group India Limited, resulting in a significant reduction of the GST demand. The final demand raised against the company now stands at INR 10,04,471/-, compared to the total disputed amount of INR 56,70,750/-. The following table summarises the key details of the appellate order:

Parameter:	Details
Authority:	Additional Commissioner, Appellate Authority, CBIC, Chandigarh
Order Type:	Form GST APL-04
Order-in-Appeal Date:	February 10, 2026
Date of Receipt:	May 12, 2026
Total Disputed Amount:	INR 56,70,750/-
Reduced Demand Payable:	INR 10,04,471/-
Penalty:	INR 1,00,447/-
Interest:	Applicable, if any

Financial and Operational Impact

The financial impact on Timex Group India Limited as a result of this order includes a GST amount of INR 10,04,471/- along with a penalty of INR 1,00,447/- and interest, if any. The company is currently assessing the full impact of the order with the assistance of legal counsel and is in the process of filing an appropriate response to the concerned authority. The disclosure was made by Dhiraj Kumar Maggo, Vice President-Legal, HR & Company Secretary of the company.