Timex Group India Limited announced its unaudited financial results for the quarter and nine months ended December 31, 2024. The company reported a revenue increase year-over-year while witnessing fluctuations in profitability and expenses.
Financial Highlights (₹ in Lakhs)
Particulars
Q3 FY2025
Q2 FY2025
Q3 FY2024
9M FY2025
9M FY2024
Revenue from Operations
11,994
17,408
9,420
40,269
32,685
Total Income
12,035
17,417
9,455
40,371
32,814
EBITDA (calculated)
462
2,522
(124)
3,209
2,133
Profit Before Tax (PBT)
263
2,385
(199)
2,973
1,838
Net Profit
194
1,781
149
2,218
1,376
EPS (Basic & Diluted, ₹)
0.07
1.70
(0.15)
1.83
1.01
Key Observations:
Revenue grew 27.4% year-over-year to ₹11,994 lakh in Q3 FY2025, reflecting strong demand.
Quarter-over-quarter revenue declined 31.1%, impacted by seasonal demand patterns.
Net profit surged to ₹194 lakh compared to ₹149 lakh in Q3 FY2024.
Higher employee costs and material costs impacted margins.
Employee Benefits Expense: ₹1,663 lakh, up due to wage adjustments.
Finance Costs: ₹117 lakh, a marginal increase.
Additionally, royalty payments of ₹430 lakh were recorded under Other Expenses for Q3 FY2025 under an Intellectual Property License Agreement.
Corporate Announcements
The company redeemed 1,57,00,000 13.88% Cumulative Redeemable Non-Convertible Preference Shares (CRNCPS) worth ₹1,570 lakh, replacing them with 2,73,15,264 10.75% CRNCPS (₹2,732 lakh) issued to its holding company.
Approval from regulatory authorities facilitated the restructuring process.
The issuance complies with external borrowing guidelines.
Auditor’s Review & Commentary
The independent auditors conducted a limited review and did not find any material misstatements in financial reporting.
Outlook & Conclusion
Growth Prospects: The company is poised for steady expansion with rising demand for watches and enhanced operational efficiencies.
Challenges: Rising raw material costs and fluctuating currency risks remain concerns.
Stock Performance: Investors may react to the mixed profitability performance.
The unaudited results and investor disclosures are available on the company’s website.