Timex Group India Q2 Profit Surges 56% to ₹47.1 Crore; Revenue Hits ₹358 Crore

Key numbers

Market Cap	₹6,745 CrSmall Cap
P/E Ratio	78.6xSector 50.4x
1-Year Return	75.2%Price Performance
RSI	45.7Neutral Zone

Key highlights

• Net profit increased 56.0% year-on-year to ₹47.1 crore in Q2 FY27
• Revenue from operations rose to ₹358 crore from ₹244 crore in the year-ago period
• Operating margin expanded to 17.6% compared to 16.7% in Q2 FY26
• First-half (H1) FY27 net profit reached ₹72.13 crore on revenue of ₹576.91 crore
• Board approved appointment of B S R & Co. LLP as statutory auditors for a five-year term
• Earnings per share (EPS) for the quarter stood at ₹4.62, up from ₹2.87 in the prior year
• Promoter holding remains steady at 51% as of the latest filing

Profitability Surges on Robust Operational Performance

Timex Group India reported a 56.0% year-on-year surge in net profit to ₹47.1 crore for the September 2026 quarter. Revenue from operations climbed to ₹358 crore, reflecting a substantial increase from the ₹244 crore recorded in the same period last year. This performance demonstrates strong momentum toward the company's fiscal 2027 revenue target of ₹1,000 crore, which management had outlined in May 2026.

On a sequential basis, profitability nearly doubled from the ₹25 crore earned in the June quarter, indicating effective execution during the first half of the financial year and a positive response to its apparel and accessory offerings.

Margin Expansion and Expenditure Profile

• Operating margins improved to 17.6% from 15.4% in the previous quarter
• Total expenses for the quarter stood at ₹295.8 crore, driven by a ₹132.2 crore cost for materials
• Purchases of stock-in-trade rose significantly to ₹147.4 crore during the period
• Finance costs remained contained at ₹1.19 crore compared to ₹1.35 crore in Q2 FY26
• The quarter saw no exceptional items, unlike the previous fiscal's labour code provision of ₹5.31 crore
• Other income contributed ₹1.2 crore to the total income of ₹359 crore

Strategic Auditor Shift and H1 Financial Health

The company concluded the first half of FY27 with a total income of ₹578.6 crore and a net profit of ₹72.1 crore. In a major corporate governance update, the Board of Directors approved the appointment of B S R & Co. LLP as statutory auditors for five consecutive years, starting from the conclusion of the 39th Annual General Meeting in 2027 through 2032.

This transition follows the recommendation of the Audit Committee. The balance sheet as of September 30, 2026, shows a strengthened equity position of ₹169.8 crore, up from ₹111.3 crore in March 2026, supported by retained earnings and improved cash equivalents of ₹51.6 crore.

Board Approval for Auditor Appointment

Based on the recommendation of the Audit Committee, the Board of Directors has approved the appointment of M/s B S R & Co. LLP (ICAI Firm Registration No. 101248W/W-100022) as the Statutory Auditors of the Company for a term of five (5) consecutive years.

What to watch next

• Reopening of the insider trading window on November 6, 2026
• Progress toward the ₹1,000 crore annual revenue target for FY27
• Upcoming Q3 FY27 financial results declaration, expected in February 2027
• Transition to B S R & Co. LLP as statutory auditors following the 2027 AGM

“The Board of Directors of the Company, at its meeting held today, i.e., November 3, 2026, inter alia, considered and approved the Un-audited Financial Results of the Company for the quarter and half year ended September 30, 2026.”

Timex Group India · financial snapshot

Share price	₹668.2
Market capitalisation	₹6,745.48 Cr
Revenue (annual)	₹798.59 Cr
Net profit (annual)	₹75.44 Cr
Revenue (latest quarter)	₹218.90 Cr-6.93% vs previous quarter
Net profit (latest quarter)	₹25.02 Cr-8.49% vs previous quarter
P/E (TTM)	78.63×Sector 50.38×
Promoter holding	51%0.00% QoQ
FII holding	2.26%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.