Timex Group India (500414) AGM 2025 summary

Opening remarks and agenda

• The 37th AGM was convened via audio-visual means, with quorum confirmed and meeting chaired by David Thomas Payne as per company articles.

• Board members, statutory and secretarial auditors were introduced, and the meeting notice, directors' report, and annual accounts were taken as read.

Financial performance review

• Revenue from operations grew by 28% and profit before tax rose by 54% for FY 2024/2025.

• Market cap increased sixfold in three years, reaching INR 3,000 crores, with a 5% market share gain to 19%.

• All sales channels and business units reported double-digit growth, with e-commerce now contributing 32% of revenue.

• EBITDA margin improved from 4% to 9.2% over three years, reaching 13.1% in Q1 2025/2026.

• 3.4 million watches sold, with 14% growth in units and 14% growth in average selling price (ASP).

Board and executive committee updates

• Board composition and committee chairs were detailed, with some directors absent due to personal exigencies.

• Statutory and secretarial auditors were present, and audit oversight mechanisms were highlighted.