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Employees: 825
Size Timex Group India (TIMEX.NS) is an India Consumer Discretionary company (Other Consumer Specialties) with a market value of $750M, the 697th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹701.20 on 6 Nov 2026.
Performance Over six months the shares gained 90.0%, against +0.9% for the median peer and 0.0% for the India market (cap-weighted) — 3rd highest of 20 in its peer set.
Growth Revenue grew 41.8% over the last twelve months (peer median +19.0%); the operating margin is 14.6% (peer median 12.1%).
Valuation It trades at 60.5× forward earnings against a peer median of 20.6× (2nd most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +42%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 73.3 points above its cost of capital (10.3% WACC).
Next results Next results expected around 4 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹8.49B | ₹7.99B | ₹5.38B | ₹4.19B | ₹3.83B |
| Revenue growth | — | +48% | +28% | +9% | — |
| Gross profit | ₹3.03B | ₹2.46B | ₹1.41B | ₹1.03B | ₹903M |
| EBITDA | ₹1.28B | ₹1.16B | ₹484M | ₹335M | ₹392M |
| Net income | ₹858M | ₹754M | ₹314M | ₹208M | ₹465M |
| Free cash flow | n/a | ₹884M | -₹48.1M | ₹284M | ₹42.4M |
| Capital expenditure | n/a | ₹19.0M | ₹9.00M | ₹15.1M | ₹14.5M |
| Total debt | n/a | ₹355M | ₹417M | ₹116M | ₹360M |
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| Measure | TIMEX.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.2% | -0.2% | 7th lowest of 21 |
| 6-month return | +90.0% | +0.9% | 3rd highest of 20 |
| Distance from 52-week high | -7.7% | -24.1% | 7th highest of 21 |
| Revenue growth (TTM) | +41.8% | +19.0% | 5th highest of 21 |
| Operating margin | 14.6% | 12.1% | 7th highest of 21 |
| Forward P/E | 60.5× | 20.6× | 2nd most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 25.7% | 10.0% | 6th most demanding of 12 |
| Growth delivered (Del g) | +41.7% | +23.2% | 2nd highest of 12 |
| Hurdle (Req g minus delivered) | -15.9 pp | -12.7 pp | 4th least demanding of 12 |
| ROIC minus cost of capital | +73.3 pp | +2.9 pp | 2nd highest of 20 |
| EV / EBITDA | 55.5× | 14.6× | most expensive of 16 |
| Net debt / EBITDA | 0.0× | -0.1× | 9th most indebted of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Timex Group India TIMEX.NS | India | $750M | +90% | +42% | 15% | 60.5× | 25.7% | +41.7% |
| Safari Industries (India) SAFARI.NS | India | $651M | -18% | +14% | 9% | 32.9× | 31.3% | +44.2% |
| Zhou Liu Fu Jewellery 6168.HK | Hong Kong | $632M | -42% | +2% | 19% | 5.0× | n/a | n/a |
| Wiselink 8932.TWO | Taiwan | $941M | -19% | +24% | 47% | n/a | 10.0% | +23.2% |
| Beijing Kingee Culture Development 002721.SZ | China | $965M | -21% | +45% | 15% | n/a | 26.5% | -25.9% |
| Senco Gold SENCO.NS | India | $556M | -7% | +42% | 9% | 13.6× | n/a | n/a |
| KDDL KDDL.NS | India | $518M | +64% | +32% | 9% | 17.8× | 33.2% | +31.5% |
| Goldiam International GOLDIAM.NS | India | $505M | +1% | +27% | 20% | n/a | 35.6% | +19.2% |
| Guangdong CHJ Industry 002345.SZ | China | $1.11B | -19% | +14% | 13% | 10.8× | -11.5% | +23.9% |
| Movado MOV | United States | $495M | +11% | +5% | 7% | 16.1× | -7.2% | +5.5% |
| Mitsubishi Pencil 7976.T | Japan | $1.16B | +52% | +6% | 13% | 20.6× | n/a | n/a |
| Fossil FOSL | United States | $462M | +76% | -9% | 2% | 48.3× | n/a | n/a |
| Gens Aurea OROX.MI | Italy | $1.27B | n/a | +95% | 11% | n/a | n/a | n/a |
| DR Corporation Limited Class A 301177.SZ | China | $1.29B | -26% | -4% | -6% | 124.3× | n/a | n/a |
| FOPE FPE.MI | Italy | $434M | +69% | +24% | 20% | 27.6× | 0.1% | +29.2% |
| Tribhovandas Bhimji Zaveri TBZ.NS | India | $419M | +300% | +24% | 10% | n/a | n/a | n/a |
| Mokingran Jewellery 2585.HK | Hong Kong | $1.37B | +118% | +5% | 4% | 29.7× | n/a | n/a |
| Thangamayil Jewellery THANGAMAYL.NS | India | $1.37B | +1% | +78% | 6% | 29.4× | 28.5% | +36.1% |
| Bijou Brigitte modische Accessoires BIJ.DE | Germany | $401M | -11% | 0% | 14% | n/a | -9.9% | +10.5% |
| Shenzhen Hipine Precision Technology 2583.HK | Hong Kong | $391M | -40% | +31% | 26% | n/a | n/a | n/a |
| Savaria SIS.TO | Canada | $1.53B | +3% | +7% | 14% | 19.9× | 9.3% | +20.8% |