Timex Group India's promoters have definitively ruled out any additional stake sales following their recent offer for sale, with the parent company reaffirming its commitment to retain controlling ownership of the Indian subsidiary. In an exclusive interview with NDTV Profit, Managing Director Deepak Chhabra addressed market concerns about promoter intent, emphasizing that the recent OFS was strategically undertaken to enhance stock liquidity and expand the shareholder base rather than signal any retreat from the Indian market.

Strong Financial Performance Drives Confidence

The company's reassurance comes on the back of exceptional financial performance in the September quarter, demonstrating robust operational momentum across its business segments.

Chhabra highlighted that while quarter-on-quarter variations are normal in the business cycle, demand across key segments remains consistently robust. This performance is supported by the company's sharp focus on profitable growth, disciplined cost management, and maintaining a balanced channel mix across various distribution platforms.

Strategic Growth Initiatives and Market Expansion

Timex continues to actively evaluate inorganic growth opportunities, particularly targeting the premium and bridge-to-luxury segments of the watch market. The funding received from the recent stake sale is strategically earmarked for acquiring global brands, licensing rights, and potential acquisitions that could benefit the Indian subsidiary. The company cited the recent launch of Aston Martin watches as a prime example of how it enhances its portfolio through high-credibility global partnerships.

The company has experienced particularly strong growth in the mid-to-premium price segment, with retail prices ranging between ₹5,000.00 and ₹12,000.00, where the Timex brand has gained significant market traction. Additionally, premium and luxury brands in its portfolio, including Guess and Versace, have delivered strong growth performance, contributing to the overall business expansion.

Multi-Channel Distribution Strategy

Timex has developed a comprehensive distribution strategy spanning both digital and physical retail channels. E-commerce continues to serve as a key growth engine, with the company attributing strong online performance to wider digital reach, improved product visibility, and rising consumer preference for convenience-led shopping. The company has strategically expanded into quick commerce through major platforms including Flipkart Minutes, Zepto, Swiggy Instamart, and Myntra Now.

Future Outlook and Market Position

Looking ahead, Timex management expressed strong conviction about the company's growth trajectory, though it refrained from providing formal guidance for compliance reasons. The management believes the watches category is experiencing healthy growth and expects Timex to continue outperforming the industry while expanding its market share. Exclusive retail is expected to play a central role in the next phase of growth, with plans to significantly scale up the store footprint over the coming years.

The company remains optimistic about continuing to gain market share in the Indian watch segment, which is witnessing strong structural growth. Any future brand additions will remain selective and strategically aligned with long-term objectives, ensuring sustainable growth while maintaining the company's focus on profitable expansion across all consumer segments.

Timex Group India has received significant relief from tax authorities, with all proceedings against the company being dropped. This development marks a positive turn for the watchmaker, clearing it of pending tax-related legal matters.

Tax Relief Details

The tax authorities' decision to drop all proceedings represents a complete resolution of the company's tax disputes. This outcome eliminates potential financial liabilities and operational uncertainties that may have been associated with the ongoing proceedings.

Impact on Operations

The resolution of these tax proceedings removes regulatory overhang from Timex Group India's operations. The company can now focus on its core business activities without the distraction of pending tax matters. This clearance provides operational clarity and removes potential financial uncertainties that were associated with the proceedings.

Business Implications

With the tax proceedings behind them, Timex Group India can concentrate on its watchmaking business and market operations. The resolution eliminates the administrative burden and potential costs associated with defending against tax proceedings, allowing management to direct resources toward business growth and development initiatives.