Timex Group India Limited concluded its 38th Annual General Meeting on August 20, 2026, approving the audited financial statements for the fiscal year ended March 31, 2026.

The meeting was conducted via video conferencing and other audio-visual means in compliance with Ministry of Corporate Affairs circulars and SEBI Listing Regulations. All directors and key managerial personnel attended the session remotely.

Key Resolutions Passed

Shareholders approved three ordinary resolutions during the meeting:

• Adoption of the audited financial statements, Board of Directors report, and Auditors report for FY26
• Reappointment of David Thomas Payne as Director following his retirement by rotation
• Confirmation of dividend payment on preference shares

Governance and Compliance

The statutory auditor and secretarial auditor reports contained no qualifications, observations, or adverse remarks. The requisite quorum was present throughout the proceedings.

David Thomas Payne, Chairman, addressed members regarding the company’s performance for FY26 and outlined the future outlook. The registers required under the Companies Act, 2013 were available for inspection during the meeting.

What the Numbers Show

The absence of any qualifications or adverse remarks in both the statutory and secretarial audit reports indicates clean compliance with regulatory requirements for the fiscal year ended March 31, 2026.

Timex Group India Limited reported a robust financial performance for the quarter ended June 30, 2026 (Q1FY27), with net profit rising 70.5% year-on-year to ₹25.02 crore. Revenue from operations grew 30% to ₹218.9 crore, driven by strong demand in E-commerce and Trade channels, while EBITDA expanded to 352M Rupees from 216M Rupees in the corresponding period last year. EBITDA margin improved to 16.1% from 12.81% in Q1FY26, reflecting improved operational leverage. The Board of Directors approved the unaudited financial results on July 29, 2026, citing successful brand collaborations and strong momentum across its premium portfolio.

The results were reviewed by the Audit Committee and approved by the Board in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Deloitte Haskins & Sells LLP, the statutory auditors, issued a limited review report confirming that the financial statements were not materially misstated. The figures are prepared in accordance with Ind AS 34 and other generally accepted accounting principles in India.

Financial Performance Highlights

Total income reached ₹219.45 crore, up from ₹169.25 crore in Q1FY26. Profit before tax grew 1.7x to ₹33.78 crore from ₹19.87 crore in the corresponding period last year. Other income increased 77.4% to ₹55 lakh from ₹31 lakh. Total expenses rose 24.3% to ₹185.67 crore, reflecting higher material costs but lower than revenue growth, thereby expanding margins. The following table summarises the key financial metrics for the quarter:

Operational Insights

Revenue growth was primarily led by the E-commerce and Trade channels. The E-commerce channel delivered exponential growth of 67%, supported by an expanding digital ecosystem, while the Trade channel, the company's largest business segment, reported 51% growth driven by higher productivity across retail doors. Quick Commerce also gained traction with rapid expansion of dark stores. In terms of brands, Timex registered robust 42% growth driven by global franchises like Todd Snyder and J Crew, while Guess emerged as a strong growth pillar with 74% growth. Aston Martin continued to build on its India debut with expanded retail presence.

Cost of materials consumed increased sharply to ₹155.01 crore from ₹91.00 crore in Q1FY26, indicating higher input costs or volume mix shifts. Advertising and sales promotion expenses rose to ₹18.64 crore from ₹12.46 lakh, and royalty expenses increased to ₹8.02 crore from ₹7.08 lakh. Employee benefits expense grew moderately to ₹16.42 crore from ₹14.06 crore. The company did not report any exceptional items in Q1FY27, unlike the previous quarter where an impact of ₹21.0 lakh was recorded due to new Labour Codes.

What the Numbers Show

The divergence between revenue growth (30%) and expense growth (24.3%) highlights improved operational leverage in Q1FY27. The EBITDA margin expansion to 16.1% from 12.81% in Q1FY26 underscores the company's ability to scale profitably. While material costs rose significantly, the company managed to expand its profit before tax margin from 11.7% in Q1FY26 to 15.4% in Q1FY27, suggesting that pricing power or product mix improvements offset the increase in input costs. The absence of exceptional items this quarter provides a clearer view of underlying operational profitability. Additionally, the strong performance of premium brands like Aston Martin and Guess indicates successful diversification beyond core offerings, reinforcing the company's premiumisation strategy.