Timex Group India (500414) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 total income was ₹35,917 lakh, up 47% YoY; revenue from operations was ₹35,801 lakh and net profit was ₹4,711 lakh.

• Growth was led by E-Commerce and Trade, with Timex leading across channels; volume and higher-value products each contributed ~50% of growth.

Financial highlights

• Q2 total income was ₹35,917 lakh vs ₹24,404 lakh; H1 total income was ₹57,862 lakh vs ₹41,329 lakh, up 40%.

• Q2 revenue from operations was ₹35,801 lakh vs ₹24,367 lakh; H1 revenue was ₹57,691 lakh vs ₹41,261 lakh.

• Q2 EBITDA was ₹6,550 lakh and PBT ₹6,334 lakh; H1 EBITDA was ₹10,128 lakh and PBT ₹9,712 lakh.

• Q2 net profit was ₹4,711 lakh vs ₹3,023 lakh; H1 net profit was ₹7,213 lakh vs ₹4,490 lakh.

• Q2 advertising and sales promotion expense was ₹2,575 lakh and royalty expense ₹1,551 lakh; H1 amounts were ₹4,439 lakh and ₹2,354 lakh, respectively.

Outlook and guidance

• No revenue targets were issued; management said recent years’ growth is achievable over the next few years, subject to market conditions and execution.

• Full-year EBITDA margin could approach 20% over time; top-line growth and absolute EBITDA remain priorities over maximizing margin percentage.

• Q3 is expected to remain smaller than Q2, though preparations target a larger Q3 than in recent years; inventory also covers Valentine’s Day and earlier rural wedding demand.

• Store-opening plans: ~40 in 2027, 80–100 in 2028 and 70–80 in 2029, using franchise-owned, franchise-operated stores.