Timex Group India Ltd — Earnings Release 2026

May 26, 2026

TIMEXGROUP

Timex Group India Limited
Unit No 303, 3rd Floor, Tower B,
World Trade Tower (WTT),
C-1, Sector-16, Noida - 201301,
Uttar Pradesh, INDIA
CIN : L33301DL1988PLC033434
Tel. : +91 120 474 1300
Fax : +91 120 474 1440
Website : www.timexindia.com
E-mail : feedback@timexindia.com

May 26, 2026

The Secretary
BSE Limited
PJ Towers, Rotunda Bldg.,
Dalal Street, Fort
Mumbai 400 001

Scrip Code: 500414

Subject: Outcome of Board Meeting

Dear Sir(s)

Please be informed that the Board of Directors has, in its meeting held today, i.e. May 26, 2026, inter alia, considered and approved the following:

1. Audited Financial Results of the Company for the year ended March 31, 2026, and the Financial Results for the quarter ended on March 31, 2026. In compliance with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations), please find attached herewith the said results along with the Auditors' Report thereon with unmodified opinion, the declaration for the same is attached herewith for your reference.

2. Recommendation of dividend on preference shares of the Company as per the details given below:

a) dividend at the rate of Rs. 0.009 per share on 0.09% non-cumulative redeemable non-convertible preference shares amounting to Rs. 22,500 for the FY 2025-26,
b) dividend at the rate of Rs. 0.5 per share on 5% cumulative redeemable non-convertible preference shares amounting to Rs. 14,00,00,000 comprising of Rs. 1,75,00,000 each for eight financial years from FY 2018-19 to FY 2025-26 and
c) dividend at the rate of Rs. 1.075 per share on 10.75% cumulative redeemable non-convertible preference shares amounting to Rs. 4,20,74,861 comprising of Rs. 1,27,10,952 for the FY 2024-25 and Rs. 2,93,63,909 for the FY 2025-26.

These dividends will be subject to the approval by the shareholders of the Company at its ensuing Annual General Meeting ("AGM"). The dividend, once approved, shall be paid on or before 30 days from the date of declaration. The record date for the payment of dividend would be fixed and intimated in due course.

1. Re-appointment of M/s Grant Thornton Bharat LLP, as the Internal Auditors of the Company for the FY 2026-27. Additional information as required under Regulation 30 of SEBI LODR Regulations read with SEBI circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, is attached herewith for your reference.

Regd. Office : E-10, Lower Ground Floor, Lajpat Nagar - III, New Delhi - 110024. Tel. : +91 11 410 21297

---

TIMEXGROUP

Timex Group India Limited
Unit No 303, 3rd Floor, Tower B,
World Trade Tower (WTT),
C-1, Sector-16, Noida - 201301,
Uttar Pradesh, INDIA
CIN: L33301DL1988PLC033434
Tel.: +91 120 474 1300
Fax: +91 120 474 1440
Website: www.timexindia.com
E-mail: feedback@timexindia.com

Time of Commencement of Board Meeting: 4:15 P.M.
Time of conclusion of Board Meeting: 8:00 P.M.

Also, please find attached herewith a copy of the Press Release on the Financial Results of the Company.

The above results are also being disseminated on Company's website at www.timexindia.com.

This is for your kind information and record.

Thanking You,

For TIMEX GROUP INDIA LIMITED

DHIRAJ
KUMAR
MAGGO

Digitized by: SWIMS 00000000000000
Date: 01.06.2019 09:00:00
Date: 01.06.2019 09:00:00
www.timexindia.com
© 2019 Timex Group India Limited
www.timexindia.com
www.timexindia.com
Email: info@timexindia.com

Dhiraj Kumar Maggo
Vice President-Legal, HR & Company Secretary
ICSI Membership No. F7609

Regd. Office: E-10, Lower Ground Floor, Lajpat Nagar - III, New Delhi - 110024. Tel.: +91 11 410 21297

---

TIMEXGROUP

Timex Group India Delivers 3X Growth in 4 Years, Hits ₹800 Cr Revenue; FY25–26 defining year of its growth journey

~ Rise in Premium category, expanded brand portfolio, operating efficiency, and a strengthened manufacturing backbone are driving the company's accelerated growth trajectory ~

National, 26th May 2026 – Timex Group India Ltd (TGIL), one of India's leading watchmakers, part of the US-headquartered iconic Timex Group, closes FY25–26 on a strong note, marking a defining moment in its transformation journey. The company scaled revenue from ₹265 crore to ₹800 crore, delivering a robust 32% CAGR over FY22–FY26, marking FY26 a milestone year in the company's growth journey driven by momentum across brands, sharper portfolio premiumisation, product innovation, and channel efficiency.

The company's FY25-26 Performance Highlights:

• Total Revenue of ₹800 Crores for FY25-26 with 48% growth over last year reflecting strong business momentum and a significant transformation in the company's growth trajectory over the last four years.
• EBITDA stood at ₹116 Cr versus ₹49.7 Cr in the same period last year, delivering a strong year-on-year jump and underlining the company's continued focus on profitable growth. 134% jump vs last year and from ₹8.73 Cr in FY21-22 to ₹116 Cr in FY25-26, 91.2% CAGR
• EBIDTA margin scaled to 14.5%, from 9.2% of last year
• Profitability: Profit Before Tax (PBT) was ₹107.4 crores with a staggering 151% jump versus the previous year, while PBT margin improved to 13.4%

Brands:

• Timex the core brand had substantial 62% rise versus last year with continued focus on design-led innovation, robust consumer demand, strategic channel development, manufacturing scale-up, and strengthening consumer relevance across lifestyle and fashion ecosystems
• Guess reports a growth of 51%, emerging as the second leading non-luxury fashion watch brand in the market
• Versace delivered a strong 48% growth versus last year, signifying consistent growing traction in luxury segments

Channel:

• The Ecomm channel, recorded another exceptional year of 90% growth over last year
• Robust 32% growth in the trade channel over last year
• High double-digit growth representing consistent performance across all other channels

The company continued to witness strong traction for bridge-to-luxury watches with Automatic watches, elevated collaborations, and design-led product categories, reflecting evolving consumer preferences towards higher value and lifestyle-driven timepieces.

Reflecting on the success journey Mr. Deepak Chhabra, Managing Director, Timex Group India, shared, "FY25–26 has been a landmark phase for Timex Group India. Over the last four years, we haven't just grown, we've fundamentally reshaped the business. We are witnessing strong traction

---

TIMEXGROUP

across the fashion, and luxury watch segments, driven by rising consumer aspiration and demand across markets. As we move forward, our focus is clear: aggressively expanding our portfolio, sharpening our brand mix, scaling manufacturing capabilities, and building deeper consumer relevance through design, innovation, and cultural connect. The objective is not just faster growth, but sustainable, high-quality progress that strengthens Timex's position in the quickly evolving Indian watch market."

Quarterly Performance – Q4 FY25-26

• Total Revenue of ₹236 Cr reported a 73% jump over the previous year
• EBITDA of ₹40.4 crores, recorded a 167% jump versus the same quarter last year
• EBITDA Margin at 17.1% Vs 11.1%
• PBT grew to ₹38.1 crores marking 191% jump versus previous year reflecting strong improvement

Quarterly Channel Performance

• E-commerce continued its strong upward trajectory with 158% growth versus last year, supported by presence across leading marketplaces and quick commerce platforms
• Trade channel maintained consistent growth of 52%, reflecting sustained retailer confidence and healthy consumer demand
• The retail channel delivered an impressive 112% year-on-year increase.
• Other channels continued to witness high double-digit rise during the year

Brand Performance

• Timex continues charting high growth with 89% growth versus the previous year
• Guess emerged as a key growth driver for the company with 108% growth vs previous year
• Versace reported exceptional expansion of 100% during the period
• Other brands across the portfolio recorded high double-digit growth

Key Business Highlights

TGIL continues to sharpen its portfolio to address diverse consumer segments and buying occasions, leveraging a strong mix of global brands. The successful launch of Aston Martin Watches and strong traction in Guess underscore rising demand for fashion, design-led offerings, while adjacent categories such as Ring Watches and Guess Jewellery are expanding the brand's lifestyle play.

The core brand, Timex continues to innovate by franchise expansion with Vector and Signio, alongside established global collections like Waterbury, Marlin and Q Timex, enabling the brand to win across price points, consumer cohorts, and occasions from everyday wear to fashion statements. This is further amplified through high-impact collaborations including Harry Potter, Superman, MM6, The James Brand, and Wednesday, strengthening cultural relevance and consumer engagement. The brand also deepened its growing presence within contemporary fashion and culture through platforms such as India Beach Fashion Week, Mysore Fashion Week, and ELLE India.

TGIL is driving growth through a focused multichannel strategy, with presence across all major quick commerce platforms and targeted expansion in high-end regional department stores thus reaching the

---

TIMEXGROUP

relevant consumer segments. The emphasis remains on maximising productivity across existing channels, delivering higher efficiency.

This growth trajectory is backed by a strong 35-year Make in India legacy, with annual manufacturing capacity being already scaled to 6 million units and a clear roadmap to further enhance it to 10 million units, positioning TGIL to support sustained growth, improve supply agility, and deliver at scale in line with rising market demand.

Looking Ahead

TGIL remains strongly positioned to capitalise on evolving consumer preferences shaped by rising aspirations, premiumisation, and growing affinity for global lifestyle brands. Building on its FY25–26 performance, the company is focused on next phase of growth with profitable expansion across categories and markets.

About Timex Group India Ltd

Timex Group India Ltd (TGIL) designs, manufactures, and markets innovative timepieces and is part of Timex Group, a privately held company headquartered in Shelton, Connecticut, with multiple operating units and over 2500 employees worldwide. In India, TGIL manages a portfolio of brands including Timex, Versace, Guess, Aston Martin, Gc, Philipp Plein, Plein Sport, Ferragamo, Nautica, and adidas. It retails via more than 5,000 offline trade stores and key online marketplaces, along with over 40 exclusive franchise stores under the Just Watches and Timex World banners.

For media enquiries:

Kareena Sahni | kareena@tute.co.in | 9667822246

---

Deloitte Haskins & Sells LLP

Chartered Accountants
7th Floor Building 10
Tower B
DLF Cyber City Complex
DLF City Phase II
Gurugram-122 002
Haryana, India
Tel: +91 124 679 2000
Fax: +91 124 679 2012

INDEPENDENT AUDITOR'S REPORT ON AUDIT OF ANNUAL FINANCIAL RESULTS AND REVIEW OF QUARTERLY FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF TIMEX GROUP INDIA LIMITED

Opinion and Conclusion

We have (a) audited the Financial Results for the year ended March 31, 2026 and (b) reviewed the Financial Results for the quarter ended March 31, 2026 (refer ‘Other Matters’ section below), which were subject to limited review by us, both included in the accompanying “Statement of Financial Results for the Quarter and Year Ended March 31, 2026” of Timex Group India Limited (the “Company”), being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the “LODR Regulations”).

(a) Opinion on Annual Financial Results

In our opinion and to the best of our information and according to the explanations given to us, the Financial Results for the year ended March 31, 2026:

i. are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended; and

ii. gives a true and fair view in conformity with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information of the Company for the year then ended.

(b) Conclusion on Unaudited Financial Results for the quarter ended March 31, 2026

With respect to the Financial Results for the quarter ended March 31, 2026, based on our review conducted as stated in paragraph (b) of Auditor’s Responsibilities section below, nothing has come to our attention that causes us to believe that the Financial Results for the quarter ended March 31, 2026, prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

Regd. Office: One International Centre, Tower 3, 31st floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai-400 013, Maharashtra, India. Deloitte Haskins & Sells LLP is registered with Limited Liability having LLP Identification No. AAB-8737

---

Deloitte Haskins & Sells LLP

Basis for Opinion on the Audited Financial Results for the year ended March 31, 2026

We conducted our audit in accordance with the Standards on Auditing ("SA"s) specified under Section 143(10) of the Companies Act, 2013 (the "Act"). Our responsibilities under those Standards are further described in paragraph (a) of Auditor's Responsibilities section below. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (the "ICAI") together with the ethical requirements that are relevant to our audit of the Financial Results for the year ended March 31, 2026 under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion.

Management's and Board of Directors' Responsibilities for the Statement

This Statement which includes the Financial Results is the responsibility of the Company's Board of Directors and has been approved by them for the issuance. The Financial Results for the year ended March 31, 2026 has been compiled from the related audited financial statements. This responsibility includes the preparation and presentation of the Financial Results for the quarter and year ended March 31, 2026 that give a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in the Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the LODR Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.

In preparing the Financial Results, the Board of Directors is responsible for assessing the Company's ability, to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors are also responsible for overseeing the financial reporting process of the Company.

Auditor's Responsibilities

(a) Audit of the Financial Results for the year ended March 31, 2026

Our objectives are to obtain reasonable assurance about whether the Financial Results for the year ended March 31, 2026 as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Financial Results.

---

Deloitte Haskins & Sells LLP

As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Annual Financial Results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors.
• Evaluate the appropriateness and reasonableness of disclosures made by the Board of Directors in terms of the requirements specified under Regulation 33 of the LODR Regulations.
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Annual Financial Results, including the disclosures, and whether the Annual Financial Results represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the Annual Financial Results of the Company to express an opinion on the Annual Financial Results.

Materiality is the magnitude of misstatements in the Annual Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Annual Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Annual Financial Results.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

---

Deloitte Haskins & Sells LLP

(b) Review of the Financial Results for the quarter ended March 31, 2026

We conducted our review of the Financial Results for the quarter ended March 31, 2026 in accordance with the Standard on Review Engagements ("SRE") 2410 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity', issued by the ICAI. A review of interim financial information consists of making inquiries, primarily of the Company's personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with SAs specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Other Matter

• The Statement includes the results for the Quarter ended March 31, 2026 being the balancing figure between audited figures in respect of the full financial year and the published year to date figures up to the third quarter of the current financial year which were subject to limited review by us.

Our report on the Statement is not modified in respect of this matter.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants

(Firm's Registration No. 117366W/W-100018)

Jyoti
Vash
Digitally signed by Jyoti Vaish
Date: 2026.05.26 13:13:02 +05'30'

Jyoti Vaish
Partner
(Membership No. 96521)
(UDIN: 26096521QCBYOM5894)

Place: Noida
Date: May 26, 2026

---

TIMEX GROUP INDIA LIMITED

Registered Office : E-10, Lower Ground Floor, Laipat Nagar - III, New Delhi - 110024

Telephone No: +91-11-41021297 | Email: feedback@timexindia.com

Website: www.timexindia.com | CIN: L33301DL1988PLC033434

FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026
(Rs. in lakhs except per share data)

Sr.	Particulars	Quarter ended			Year ended
		March 31, 2026	December 31, 2025	March 31, 2025	March 31, 2026	March 31, 2025
		Unaudited (Refer note 7)	Unaudited	Unaudited (Refer note 7)	Audited	Audited
1	Revenue from operations	23,520	15,078	13,541	79,859	53,810
2	Other income	63	73	70	204	172
3	Total Income (1+2)	23,583	15,151	13,611	80,063	53,982
4	Expenses
	a. Cost of materials consumed	9,204	2,345	5,075	29,469	18,009
	b. Purchases of stock-in-trade	6,258	4,324	4,017	19,006	15,697
	c. Changes in inventories of finished goods, work-in-progress and stock-in-trade	(2,196)	1,961	(1,501)	(3,120)	(2,717)
	d. Employee benefits expense	1,477	1,818	1,316	6,124	5,476
	e. Finance costs	147	140	125	549	361
	f. Depreciation and amortisation expenses	85	87	79	340	330
	g. Other expenses	4,740	3,675	3,196	16,970	12,549
	Total expenses (4)	19,715	14,350	12,307	69,338	49,705
5	Profit before exceptional items and tax (3-4)	3,868	801	1,304	10,725	4,277
6	Exceptional items- Impact of New Labour Codes (refer note 6)	210	321	-	531	-
7	Profit before tax (5-6)	3,658	480	1,304	10,194	4,277
8	Tax expense
	- Current tax	1,047	191	234	2,839	958
	- Deferred tax (credit)/charge	(123)	(31)	146	(189)	177
	Total Tax expenses (8)	924	160	380	2,650	1,135
9	Profit for the period (7-8)	2,734	320	924	7,544	3,142
10	Other Comprehensive Income
	Items that will not be reclassified to profit or loss
	- Gain / (loss) on defined benefit obligations	(59)	69	4	10	4
	- Income tax relating to items that will not be reclassified to profit or loss	14	(17)	(1)	(3)	(1)
11	Total Other Comprehensive (Loss) / Income	(45)	52	3	7	3
12	Total Comprehensive Income for the period (9+11)	2,689	372	927	7,551	3,145
13	Paid-up equity share capital (Re. 1 each fully paid-up)	1,010	1,010	1,010	1,010	1,010
14	Other equity				10,118	7,390
15	Earnings per share	Not Annualised	Not Annualised	Not Annualised	Annualised	Annualised
	-Basic	2.90	0.19	0.79	7.30	2.62
	-Diluted	2.90	0.19	0.79	7.30	2.62

---

Balance sheet as at March 31, 2026

(Rs. in lakhs)

Particulars	As at March 31, 2026 Audited	As at March 31, 2025 Audited
ASSETS
Non-current assets
Property, plant and equipment	592	513
Capital work-in-progress	8	6
Right-of-use assets	539	684
Other intangible assets	3	19
Intangible assets under development	9	-
Financial assets
Other financial assets	106	90
Deferred tax assets	1,002	816
Income tax assets (net)	107	107
Other non-current assets	26	38
Total non-current assets	2,392	2,273
Current assets
Inventories	19,693	15,131
Financial Assets
Trade receivables	5,816	5,467
Cash and cash equivalents	3,395	-
Bank balances other than "cash and cash equivalents"	2	2
Other financial assets	21	24
Other current assets	2,458	2,310
Total current assets	31,385	22,934
TOTAL ASSETS	33,777	25,207
EQUITY AND LIABILITIES
Equity
Equity share capital	1,010	1,010
Other equity	10,118	7,390
Total equity	11,128	8,400
Liabilities
Non-current liabilities
Financial liabilities
Borrowings	2,949	2,930
Lease-liabilities	268	565
Other financial liabilities	421	127
Provisions	1,718	1,225
Total non-current liabilities	5,356	4,847
Current liabilities
Financial Liabilities
Borrowings	-	456
Lease-liabilities	335	223
Trade payables
- total outstanding dues of micro enterprises and small enterprises	2,347	1,061
- total outstanding dues of creditors other than micro enterprises and small enterprises	9,732	6,252
Other financial liabilities	2,424	2,014
Other current liabilities	998	883
Provisions	1,174	868
Current Tax Liabilities (net)	283	203
Total current liabilities	17,293	11,960
TOTAL LIABILITIES	22,649	16,807
TOTAL EQUITY AND LIABILITIES	33,777	25,207

---

Statement of Cash Flows for the year ended March 31, 2026

(Rs. in lakhs)

Particulars		Year ended March 31, 2026	Year ended March 31, 2025
		Audited	Audited
A CASH FLOW FROM OPERATING ACTIVITIES
	Profit before tax	10,194	4,277
	Adjustments for:
	Gain on Investments in mutual fund measured at FVTPL	(119)	(45)
	Interest income on financial assets carried at amortized cost	(10)	(7)
	Liabilities/provisions no longer required written back	-	(8)
	Finance costs	549	361
	Depreciation and amortisation expenses	340	330
	Loss on sale of property, plant and equipment (net)	3	-
	Property, Plant and equipment written off	-	7
	Allowance for bad and doubtful debts (net)	23	(25)
	Loss/(gain) unrealised currency exchange fluctuation (net)	29	(70)
	Changes in working capital:
	Adjustments for (increase) / decrease in operating assets
	Inventories	(4,562)	(4,506)
	Trade receivables	(370)	(332)
	Other financial assets (Current)	3	1
	Other financial assets (Non-current)	(17)	(2)
	Other assets (Current)	(148)	(1,025)
	Other assets (Non-current)	(5)	10
	Adjustments for increase / (decrease) in operating liabilities
	Trade payables	4,720	465
	Other financial liabilities (Current)	396	889
	Provisions (Current)	316	48
	Provisions (Non-current)	493	(362)
	Other liabilities (Current)	72	460
	Cash generated from operations	11,907	466
	Income taxes paid (net of refunds)	(2,808)	(781)
	Net cash generated from /(used in) operating activities	9,099	(315)
B CASH FLOW FROM INVESTING ACTIVITIES
	Proceeds from sales of investments in mutual fund (net)	128	45
	Bank balances not considered as cash and cash equivalents (net)	0 #	0 #
	Payment for purchase of property, plant and equipment, capital-work-in-progress and other intangible assets	(190)	(90)
	Proceeds from sale of property, plant and equipment	3	8
	Net cash (used in) investing activities	(59)	(37)
C CASH FLOW FROM FINANCING ACTIVITIES
	(Repayment) / net proceeds from short term borrowings	(456)	456
	Repayment of lease liabilities and Interest	(301)	(277)
	Withholding tax paid on Redemption of preference shares along with accumulated /unpaid dividend - net	(168)	(142)
	Redemption of Preference Share (Refer note 5)	(2,290)	-
	Dividend Payment on Preference Shares	(2,365)	-
	Finance cost paid	(65)	(76)
	Net cash (used in) financing activities	(5,645)	(39)
	Net increase /(decrease) in cash and cash equivalents (A+B+C)	3,395	(391)
	Cash and cash equivalents at the beginning of the period	-	391
	Cash and cash equivalents at the end of period	3,395	-
	Note:
	Component of cash and cash equivalents:
	Balances with Banks
	-In current accounts	1,086	-
	Cash on hand	0 #	-
	Short Term Investment	2,309	-
	Cash in cash equivalents in Statement of Cash Flows	3,395	-

Amount is below rounding off threshold adopted by the Company

---

NOTES TO UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026

1. The above financial results have been prepared by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"). These results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on May 26, 2026. The Statutory auditors of the Company have carried out the review/ audit of the above financial results for the quarter and year ended March 31, 2026 and issued an unmodified report on the aforesaid results.

2. The above financial results have been prepared in accordance with the recognition and measurement principles as laid down in the Indian Accounting Standards (referred to as "Ind AS") prescribed under Section 133 of the Companies Act, 2013 read with the Companies (Indian Accounting Standards) Rules 2015, as amended, from time to time.

3. The Company is primarily engaged in the business of manufacturing and trading of watches and rendering of related after sales service. The other activities of the Company comprise of providing information and technology support services to the group companies. The Managing Director of the Company, who has been identified as the Chief Operating Decision Maker (CODM), evaluates the Company's performance, allocates resources based on the analysis of the various performance indicators of the Company as a single unit. Therefore, the operations of the Company constitutes a single operating segment in accordance with the principles prescribed under Ind AS 108 – Operating segments. Accordingly, no separate disclosures of segment information has been made.

4. The Board of Directors in its meeting held on May 26, 2026, recommended the Members, dividend on three tranches of preference shares i.e. (i) 0.09% non-cumulative redeemable non-convertible preference shares amounting to Rs. 0.23 lakhs for the Financial Year 2025-26, (ii) 10.75% cumulative redeemable non-convertible preference shares amounting to Rs. 421 lakhs for the Financial Year 2024-25 and Financial Year 2025-26, and (iii) dividend on 5% cumulative redeemable non-convertible preference shares amounting to Rs. 1,400 lakhs comprising of Rs. 175 lakhs each year from Financial Year 2018-19 to Financial Year 2025-26 to pay off unpaid accumulated dividend out of available distributable profits for the Financial Year 2025-26. These dividends will be subject to the approval by the Members of the Company at their ensuing Annual General Meeting ("AGM").

5. (a) In respect of 13.88%, 2,29,00,000 cumulative redeemable non-convertible preference shares, the Company paid final dividend amounting, Rs. 954 lakhs comprising of Rs. 318 lakhs for the financial year 2024-25, Rs. 318 lakhs for the financial year 2018-19 and Rs. 318 lakhs for the financial year 2019-20 to pay off part of unpaid accumulated dividend, Further the Board of Directors, in its meeting held on November 4, 2025, declared and paid interim dividend on these shares amounting to Rs. 1,271 lakhs comprising of Rs. 318 lakhs each for the Financial Year 2020-21 to Financial Year 2023-24 to pay off unpaid accumulated dividend out of available distributable profits.

(b) The original maturity tenure for redemption of 13.88%, 2,29,00,000 cumulative redeemable non-convertible preference shares amounting Rs. 2,290 lakhs was ten years from the date of allotment i.e. March 21, 2006, with an option to the Company of an earlier redemption after March 21, 2008. These shares were due for redemption on March 20, 2016 which pursuant to the provisions of Section 106 of the erstwhile Companies Act, 1956 was extended by the Company with the consent of preference shareholders by five years i.e. till March 20, 2021 and was further extended by another five years, i.e. till March 20, 2026.

The Board of Directors had in its meeting held on March 20, 2026, approved the redemption of these preference shares along with payment of dividend till date of maturity amounting Rs. 308 lakhs for the period starting from April 01, 2025 till March 20, 2026 and the complete amount was paid to preference shareholder on March 25, 2026.

1. On 21 November 2025, the Government of India notified the four Labour codes - The Code on Wages, 2019, The Industrial Relations Code, 2020, The Code on Social Security, 2020, and The Occupational Safety, Health and Working Conditions Code, 2020 - consolidating 29 existing Labour Laws. Based on the notified central rules and FAQs issued by the Ministry of Labour and Employment and best available information, the Company has estimated the financial implications thereof and has recognized an additional provision of Rs. 210 lakhs and Rs. 531 lakhs respectively for the quarter ended March 31, 2026 and for the year ended March 31, 2026. Considering the materiality, regulatory driven and non-recurring nature of the afore stated impact, the Company has presented such incremental impact under "Exceptional items" in the financial results. The Company continues to monitor the finalisation of State rules as well as the Government clarifications on the other aspects of the Labour Codes.

2. The figures of the quarter ended March 31, 2026 and March 31, 2025 are the balancing figures between the audited figures in respect of the full financial year and published year to date figures up to the nine months ended December 31, 2025 and December 31, 2024 respectively.

For and on behalf of the Board of directors of
Timex Group India Limited

DEEPAK
CHHABRA
Dhaka
Deepak Chhabra
Managing Director

Place: Noida
Date: May 26, 2026

---

TIMEXGROUP

Timex Group India Limited
Unit No 303, 3rd Floor, Tower B,
World Trade Tower (WTT),
C-1, Sector-16, Noida - 201301,
Uttar Pradesh, INDIA
CIN : L33301DL1988PLC033434
Tel. : +91 120 474 1300
Fax : +91 120 474 1440
Website : www.timexindia.com
E-mail : feedback@timexindia.com

May 26, 2026

The Secretary
BSE Limited
PJ Towers, Rotunda Bldg.,
Dalal Street, Fort
Mumbai 400 001

Scrip Code: 500414

Subject: Declaration pursuant to Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Dear Sir,

Pursuant to the provisions of Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, read with SEBI Circular CIR/CFD/CMD/56/2016 dated May 27, 2016, on “Disclosure of the Impact of Audit Qualification by Listed Entities”, we hereby confirm and declare that M/s Deloitte Haskins & Sells LLP, Chartered Accountants, (Firm Registration No. 117366W/ W - 100018), the Statutory Auditors of the Company have issued the Audit Report with unmodified opinion with respect to Audited Financial Results of the Company for the year ended on 31st March 2026.

Thanking you,

For Timex Group India Limited

AMIT
JAIN

Amit Jain
Chief Financial Officer
(PAN: AAMPJ9232F)

Regd. Office : E-10, Lower Ground Floor, Lajpat Nagar - III, New Delhi - 110024. Tel. : +91 11 410 21297

---

Disclosure pursuant to Regulation 30 and Schedule III to the SEBI LODR Regulations read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026

Sl. No.	Disclosure Requirement	Information of such event(s)
M/S GRANT THORNTON BHARAT LLP
1.	Reason for change viz., appointment, re-appointment, resignation, removal, death or otherwise	Re-appointment of M/s Grant Thornton Bharat LLP, as Internal Auditors of the Company for the FY 2026-27.
2.	Date of appointment/re-appointment/cessation (as applicable) and term of appointment/re-appointment	The Board has, at its meeting held on May 26, 2026, approved the re-appointment of M/s Grant Thornton Bharat LLP, as Internal Auditors of the Company for the FY 2026-27.
3.	Brief profile (in case of appointment)	M/s Grant Thornton Bharat LLP is a member of Grant Thornton International Ltd and is a leading professional services firm in the country. They are working with businesses and government across industries and sectors, providing assurance, consulting, global delivery, tax, regulatory & finance, ESG & risk and digital and technology transformation services.
4.	Disclosure of relationships between directors (in case of appointment of a director)	Not Applicable