Timex Group India filed its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26 with BSE Ltd. The filing, submitted by Dhiraj Kumar Maggo, Vice President – Legal, HR and Company Secretary, details the company's adherence to the National Guidelines on Responsible Business Conduct (NGRBC). The report covers the company's operations, which include manufacturing watches and wholesale trading, accounting for 99.09% of its turnover.

The company reported a total workforce of 824, comprising 600 employees and 224 workers. Women constitute 13% of the total employees and 85% of the total workers. The Board of Directors includes 6 members, with 2 women representing 33.33% of the board. The report highlights that the company achieved zero lost time injuries and zero fatalities for both employees and workers during FY 2025-26.

Financial and Operational Metrics

The company disclosed a turnover of Rs. 798,58,43,907 and a net worth of Rs. 111,28,36,111. Exports contributed approximately 1.7% to the total turnover. The report indicates that 86% of inputs were sourced sustainably, and the company is compliant with Extended Producer Responsibility (EPR) guidelines. The company spent 0.19% of its total revenue on well-being measures for employees and workers.

Environmental Performance

Timex Group India reported a total energy consumption of 3258 Giga Joules in FY 2025-26, an increase from 3062 Giga Joules in the previous year. The energy intensity per rupee of turnover improved to 0.041 Giga Joules per Lakhs from 0.057 in the previous year. Total water withdrawal stood at 10368.2 Kilolitres, with water intensity recorded at 0.130 KL per Lakhs of turnover.

The company generated 29.575 metric tonnes of waste, of which 10.857 metric tonnes were recycled. Greenhouse gas emissions (Scope 1 and Scope 2) totaled 541.05 metric tonnes of CO2 equivalent. The company has implemented initiatives such as replacing CFL lights with LEDs and upgrading air compressors and chillers to reduce energy consumption and GHG emissions.

Governance and Stakeholder Engagement

The report confirms that the company has policies covering all nine NGRBC principles, approved by the Board. Mr. Deepak Chhabra, Managing Director, is the highest authority responsible for implementing these policies. The company received 13,564 customer complaints during the year, all of which were resolved. No complaints were reported regarding sexual harassment, discrimination, child labour, or forced labour. The company also reported no material fines or penalties during the financial year.

Timex Group India Ltd has scheduled its 38th Annual General Meeting (AGM) for August 20, 2026, to be held through video conferencing. The meeting will seek shareholder approval for the audited financial statements for the year ended March 31, 2026, and the appointment of Mr. David Thomas Payne as Director. The board has recommended a final dividend of ₹18.22 crore on preference shares, subject to member approval.

The company reported a 48% increase in revenue to ₹80,063 lakhs for the financial year ended March 31, 2026. Profit after tax rose to ₹7,544 lakhs, compared to ₹3,142 lakhs in the previous year. Profit before tax increased by 138% to ₹10,194 lakhs, while the operating profit margin improved to 13.8% from 9.2% in the previous year.

Dividend Declaration

The board has proposed a dividend of ₹22.50 lakh on 0.09% non-cumulative redeemable non-convertible preference shares. Additionally, it recommended a dividend of ₹14 crore on 5% cumulative redeemable non-convertible preference shares, covering unpaid liabilities for eight financial years from FY 2018-19 to FY 2025-26. A further dividend of ₹4.21 crore is proposed for 10.75% cumulative redeemable non-convertible preference shares for FY 2025-26 and the prior year.

Financial Performance

Corporate Governance

The board met seven times during the financial year 2025-26. Statutory auditors M/s Deloitte Haskins & Sells LLP issued an unmodified opinion on the financial statements, confirming adequate internal financial controls. The register of members will remain closed from August 18, 2026, to August 19, 2026.