Timex Group India Limited has officially disclosed the resignation of Varun Malik, General Manager-Marketing and Senior Management Personnel, through a regulatory filing under SEBI Listing Regulations. The resignation became effective at the close of business hours on December 11, 2025.

Official Regulatory Disclosure

The company filed the disclosure with BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Dhiraj Kumar Maggo, Vice President-Legal, HR and Company Secretary, confirming the formal nature of this leadership change.

Resignation Details

Malik submitted his formal resignation letter on December 01, 2025, addressed to Managing Director Deepak Chhabra. In his resignation letter, Malik stated that the decision came "after careful thought and consideration" and mentioned he is "exploring other professional opportunities that align with my long-term goals."

The resignation letter, attached to the regulatory filing, expressed gratitude for the opportunities provided and appreciation for the support received during his tenure with the company.

Company's Financial Context

This leadership transition occurs as Timex Group India maintains a strong financial position:

The company has demonstrated significant asset growth, particularly in current assets, indicating an expansion phase that makes this marketing leadership change notable for stakeholders.

Regulatory Compliance

The disclosure follows SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and the company's Policy on Determination of Materiality for Disclosure of Events or Information. This filing represents a continuation of the company's previous communication dated December 01, 2025, on the same subject.

Timex Group India Limited, with scrip code 500414 on BSE, is expected to announce succession plans for the marketing leadership role in due course.

Timex Group India Limited (TGIL) has set a new benchmark in the Indian watchmaking industry with its stellar performance for the quarter ended September 30, 2025. The company reported significant growth across key financial metrics, underlining its strong market position and successful business strategies.

Financial Highlights

TGIL delivered a strong quarterly performance, with revenue increasing by 40% year-over-year to Rs. 24,404.00 lakhs, compared to Rs. 17,417.00 lakhs in the same quarter last year. The company's profit before tax (PBT) grew by 70%, reaching Rs. 4,069.00 lakhs.

Brand Performance

The company's core brands showcased robust growth:

• Versace led with 57% growth
• Timex, the flagship brand, registered 52% growth
• Guess continued its upward trajectory with a 45% increase

Channel Performance

TGIL's multi-channel strategy yielded impressive results:

• E-commerce channels reported 53% growth
• Trade channels maintained 30% growth

H1 FY26 Performance

For the half-year ended September 30, 2025, TGIL reported:

• Revenue growth of 46% year-over-year
• Profit Before Tax (PBT) increase of 123%
• EBITDA growth of 116%, with a ratio of 15.7% to revenue

Strategic Initiatives

TGIL's growth is underpinned by its focus on premiumization and product innovation. Key initiatives include:

1. Expanded portfolio with new collections and global collaborations (Timex x Superman, Jacquie Aiche, Dimepiece, and TV Boy)
2. Launch of India-led franchises such as Vector and Fria
3. Introduction of the first Guess Automatic watches in India
4. Partnership with Aston Martin for luxury watches
5. Expansion of quick-commerce presence through partnerships with Zepto, Swiggy Instamart, and Flipkart Minutes

Management Commentary

Mr. Deepak Chhabra, Managing Director of Timex India, commented on the company's performance, stating, "This has been a landmark quarter for Timex Group India Ltd, our best number in terms of absolute revenue and profit. It is a direct reflection of our consistent focus on premiumisation, product innovation, and strong multi-channel execution for Timex and strategic growth for our Licensed brands in luxury segment."

Awards and Recognition

TGIL's performance was complemented by industry recognition:

• 'Most Preferred Workplace 2025-26' in association with India Today & Business Standard
• 'Best Brands for Women 2025' by ET NOW for the Timex brand

Dividend Announcement

The Board of Directors approved an interim dividend of Rs. 12.71 crores on preference shares to clear accumulated unpaid dividends from FY2020-21 to FY2023-24, demonstrating the company's strong financial position and commitment to shareholder returns.

Outlook

Building on its strong half-year performance, TGIL remains focused on driving innovation, deepening market reach, and enhancing consumer experiences across all touchpoints. The company plans to continue investing in brand storytelling, product excellence, and omnichannel expansion to further strengthen its position in India's evolving lifestyle market.