Timex Group India Q2 profit rises 56% to Rs 47.11 crore

Timex Group India Limited reported Rs 47.11 crore profit for the quarter ended September 30, 2026, 56% higher year on year, as revenue from operations rose 47% to Rs 358.01 crore from Rs 243.67 crore. Total income was Rs 359.17 crore, while six-month profit reached Rs 72.13 crore.

How did Timex Group India perform in the September quarter?

Timex Group India recorded higher revenue, profit before tax and profit for the period in the quarter ended September 30, 2026. Revenue from operations increased by Rs 114.34 crore from the September 2025 quarter to Rs 358.01 crore. Including other income of Rs 1.16 crore, total income rose to Rs 359.17 crore from Rs 244.04 crore a year earlier.

Profit before tax increased to Rs 63.34 crore from Rs 40.69 crore, while total tax expense rose to Rs 16.23 crore from Rs 10.46 crore. Profit for the period was Rs 47.11 crore, compared with Rs 30.23 crore in the quarter ended September 30, 2025. Basic and diluted earnings per share, which the company said were not annualised, were Rs 4.62 against Rs 2.87.

The September 2026 quarter was also above the quarter ended June 30, 2026, when revenue from operations was Rs 218.90 crore and profit for the period was Rs 25.02 crore. Revenue increased by Rs 139.11 crore sequentially and profit increased by Rs 22.09 crore. Other income rose from Rs 0.55 crore in June to Rs 1.16 crore in September.

What changed in Timex Group India’s expenses and profitability?

Timex Group India’s total expenses rose by Rs 92.48 crore year on year to Rs 295.83 crore in the September 2026 quarter. The increase in total income was Rs 115.13 crore, exceeding the reported increase in aggregate expenses by Rs 22.65 crore. That difference matched the year-on-year increase in profit before tax from Rs 40.69 crore to Rs 63.34 crore.

On a quarter-on-quarter basis, total expenses increased from Rs 185.67 crore in the June 2026 quarter to Rs 295.83 crore in the September 2026 quarter. Total income increased by Rs 139.72 crore over the same period, from Rs 219.45 crore to Rs 359.17 crore. The financial statement lists materials, stock-in-trade purchases, inventory changes, employee benefits, finance costs, depreciation and other expenses within the expense base.

Timex Group India reported a single operating segment under Indian Accounting Standard 108, or Ind AS 108. Its principal activities are manufacturing and trading watches and providing related after-sales service, alongside information technology support services to group companies. The company therefore did not disclose revenue or profit by watch brand, sales channel, geography or individual business activity.

What were Timex Group India’s first-half financial results?

Timex Group India reported revenue from operations of Rs 576.91 crore for the six months ended September 30, 2026, compared with Rs 412.61 crore in the corresponding 2025 period. Other income was Rs 1.71 crore, taking total income to Rs 578.62 crore from Rs 413.29 crore. Profit for the period increased to Rs 72.13 crore from Rs 44.90 crore.

Profit before tax for the six-month period rose to Rs 97.12 crore from Rs 60.56 crore, while tax expense rose to Rs 24.99 crore from Rs 15.66 crore. Total expenses were Rs 481.50 crore, compared with Rs 352.73 crore in the six months ended September 30, 2025. Basic and diluted earnings per share were Rs 7.06, against Rs 4.20, and were not annualised.

The September quarter accounted for Rs 47.11 crore of the Rs 72.13 crore profit reported for the six-month period, with the June quarter contributing Rs 25.02 crore. The results for both the quarter and six months were unaudited. Deloitte Haskins & Sells LLP reviewed the interim financial results, and its report said nothing had come to its attention to indicate a material misstatement.

What do Timex Group India’s balance sheet and cash flows show?

Timex Group India’s total assets were Rs 610.87 crore at September 30, 2026, compared with Rs 337.77 crore at March 31, 2026. Current assets increased to Rs 585.05 crore from Rs 313.85 crore. Inventory rose to Rs 368.02 crore from Rs 196.93 crore, while trade receivables increased to Rs 120.55 crore from Rs 58.16 crore.

Cash and cash equivalents rose to Rs 51.56 crore at September 30 from Rs 33.95 crore at March 31. Total equity increased to Rs 169.81 crore from Rs 111.28 crore, and total liabilities rose to Rs 441.06 crore from Rs 226.49 crore. Current liabilities were Rs 391.64 crore, including Rs 263.27 crore of trade payables due to creditors other than micro and small enterprises.

Net cash generated from operating activities was Rs 38.96 crore in the six months ended September 30, 2026, compared with Rs 63.96 crore a year earlier. The cash-flow statement recorded Rs 171.09 crore used for inventory growth and Rs 62.08 crore for higher receivables, partly offset by a Rs 179.32 crore increase in trade payables. Financing activities used Rs 18.44 crore, including Rs 16.39 crore of preference-share dividend payments.

Conclusion

Timex Group India combined a Rs 114.34 crore year-on-year increase in September-quarter revenue with a Rs 16.88 crore increase in profit for the period. The six-month result showed revenue of Rs 576.91 crore and profit of Rs 72.13 crore, while balance-sheet growth included higher inventory, receivables and trade payables.

The disclosed matter to watch is the finalisation of state rules and related aspects of India’s new labour codes. Timex Group India said it continues to monitor these developments and will account for changes if required. It had recognised an additional Rs 5.31 crore provision as an exceptional item for the year ended March 31, 2026.