Timex Group India Ltd — Investor Presentation 2021

Aug 11, 2021

==> picture [612 x 186] intentionally omitted <==

August 11, 2021

The Secretary BSE Ltd. P J Towers, Rotunda Bldg., Dalal Street, Fort Mumbai – 400 001

Scrip Code: 500414

Sub: Intimation under Regulation 30(6) of SEBI (Listing Obligations and Disclosures Requirements) Regulations, 2015 - Investor Presentation for Q1 of FY 2022

Dear Sir,

Please find enclosed an Investor Presentation covering the performance highlights of the Company for Q1 of FY 2022.

We have also uploaded the presentation on the Website of the Company at www.timexindia.com

You are requested to take the above on your records.

Thanking you, For Timex Group India Limited

==> picture [68 x 71] intentionally omitted <==

==> picture [83 x 41] intentionally omitted <==

Dhiraj Kumar Maggo Vice President – Legal, HR and Company Secretary

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

==> picture [181 x 17] intentionally omitted <==

Timex Group India Limited Investor Presentation Q1 FY2021-22

11 Aug 2021

==> picture [59 x 59] intentionally omitted <==

==> picture [152 x 16] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

2

Disclaime ~~r~~

This presentation may contain certain forward looking statements concerning Timex’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements.

The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to implement strategy and manage growth, competition (both domestic and international), market demand for products, successful operation of our sales channels, price of our raw materials, economic growth in India and the target countries for exports, ability to attract and retain highly skilled professionals, time and cost over runs, our ability to manage our operations, government policies and actions with respect to investments, fiscal deficits, regulations, etc., inflation, foreign exchange rates, interest and other fiscal costs generally prevailing in the economy.

Past performance may not be indicative of future performance. We do not undertake to publicly update our forward-looking statements to reflect subsequent events or circumstances. Timex will not be responsible in any way for any action taken based on such statements.

This presentation is not intended, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities in Timex or any of it’s group companies or any other invitation or inducement to engage in investment activities, neither shall this presentation nor the fact of it’s distribution form the basis of, or be relied on in connection with, any contract or investment decision. The numbers & the contents in this presentation are purely indicative and subject to change.

==> picture [85 x 9] intentionally omitted <==

3

Busines ~~s Update~~

Covid-19 Second Wave Business Impact

• The quarter started with a severe second wave of Covid-19 swiftly overwhelming medical infrastructure across the country.

• The Company re-instituted WFH early on to safeguard its employees and carried out vaccination drives for the teams.

• While there was no nationwide lockdown, a surge in cases and state-wise curbs hit demand especially in discretionary categories.

• Offline business continued to be stressed and impacted by restricted timing of operations and weekend closures.

• Retail sales across India were down 50% in June’21 compared to June’19, the Retailers Association of India reports.

• E-Commerce channel bounced back quickly after a short slump.

• Consumer trends show an increasing demand for smartwatches, and continuing shift to simplified design in the analog category.

==> picture [85 x 9] intentionally omitted <==

4

==> picture [54 x 81] intentionally omitted <==

==> picture [232 x 40] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

5

We Don’t St ~~op Campaign~~

This timeless message is even more relevant today. The We Don’t Stop campaign continued to partner with amplify the voices of who those who have shown the

‘We Don’t Stop’ spirit in their life and continue to inspire us all.

==> picture [513 x 236] intentionally omitted <==

==> picture [323 x 236] intentionally omitted <==

LAXMI AGGARWAL , an acid attack survivor, campaigner for rights of acid attack victims.

MASOOM MINAWALA , a leading fashion and lifestyle blogger.

==> picture [85 x 9] intentionally omitted <==

6

Timex Fit S ~~martwatch~~

The Timex FIT smartwatch received exposure in publications like HT Tech, Gadget 360, India Today, Indian Express, Jagran, Media Brief, Media Infoline, NDTV.com, Gadget 360 etc.

The social launch video has also received over 550K views.

==> picture [420 x 207] intentionally omitted <==

==> picture [421 x 139] intentionally omitted <==

==> picture [423 x 208] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

7

New Produc ~~t Introductions~~

Bringing the best of our heritage products from across the globe.

Collections like Command Urban, Navi XL, Essex Avenue, Waterbury & Q Timex Color Series garnered greater engagement on social and were appreciated by consumers.

==> picture [874 x 341] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

8

Financial Performance

Q1 FY2021-22

==> picture [492 x 335] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

9

TGIL Financi ~~al Performance~~

Financial performance during the quarter impacted by 2nd wave of Covid-19 but better than last year.

• Total Income at Rs. 3209 lacs (grown by 371%) during the quarter as compared to Rs. 682 lacs last year.

• EBIDTA is negative Rs. 391 lacs (64% lower) during the quarter as compared to negative Rs. 1089 lacs last year.

• Loss before tax for the quarter is at Rs. 528 lacs (57% lower) as compared to loss before tax of Rs. 1242 lacs last year.

==> picture [85 x 9] intentionally omitted <==

10

TGIL Financi ~~al Performance – Current Quarter~~

==> picture [870 x 265] intentionally omitted <==

----- Start of picture text -----

Growth
Total Income - Quarter
371%
400 EBIDTA 40%
Total Income 200 EBIDTA % 20%
-12.2%
3500 3209 0 0%
Q1 Q1
-200 -20%
3000 20-21 21-22
-400 -40%
2500 -391
-600 -60%
2000 -800 -80%
-1000 -100%
1500
-1200 -1089 -120%
1000
682
-1400 -140%
500 -1600 -160%
-159.7%
0 -1800 -180%
Q1 Q1
20-21 21-22
Rs. in lakhs
Rs. in lakhs
----- End of picture text -----

==> picture [85 x 9] intentionally omitted <==

11

TGIL Annual ~~Financial Performance: Total Income~~

Total Income

==> picture [708 x 290] intentionally omitted <==

----- Start of picture text -----

26000
25229
24190
24000
22000
21015
19995
20000
18000
16000
14211
14000
12000
2016-17 2017-18 2018-19 2019-20 2020-21
Rs. in lakhs
----- End of picture text -----

Company's operations and financial results for the financial year ended March 31, 2021, have been adversely impacted by the outbreak of COVID-19 pandemic due to which the results are not comparable with previous year.

==> picture [85 x 9] intentionally omitted <==

12

TGIL Annual ~~Financial Performance: EBIDTA~~

==> picture [716 x 316] intentionally omitted <==

----- Start of picture text -----

EBIDTA
1400
1153
1200 1129
1000
800
600
397
400
200 105
0
2016-17 2017-18 2018-19 2019-20 2020-21
-200
-238
-400
Rs. in lakhs
----- End of picture text -----

Company's operations and financial results for the financial year ended March 31, 2021, have been adversely impacted by the outbreak of COVID-19 pandemic due to which the results are not comparable with previous year.

==> picture [85 x 9] intentionally omitted <==

13

TGIL Annual ~~Financial Performance: EBIDTA %~~

==> picture [686 x 329] intentionally omitted <==

----- Start of picture text -----

6.0%
4.8%
5.4%
4.0%
1.6%
2.0%
0.5%
0.0%
2016-17 2017-18 2018-19 2019-20 2020-21
-1.7%
-2.0%
-4.0%
-6.0%
----- End of picture text -----

Company's operations and financial results for the financial year ended March 31, 2021, have been adversely impacted by the outbreak of COVID-19 pandemic due to which the results are not comparable with previous year.

==> picture [85 x 9] intentionally omitted <==

14

TGIL Annual ~~Financial Performance: PBT~~

==> picture [749 x 329] intentionally omitted <==

----- Start of picture text -----

835
800 752
600
400
200
0
2016-17 2017-18 2018-19 2019-20 2020-21
-200
-180
-400
-381
-600
-800
-811
-1000
Rs. in lakhs
----- End of picture text -----

Company's operations and financial results for the financial year ended March 31, 2021, have been adversely impacted by the outbreak of COVID-19 pandemic due to which the results are not comparable with previous year.

==> picture [85 x 9] intentionally omitted <==

15

TGIL Shareh ~~olding Pattern~~

	30-Jun-18	30-Sep-18	31-Dec-18	31-Mar-19	30-Jun-19	30-Sep-19	31-Dec-19	31-Mar-20	30-Jun-20	30-Sep-20	31-Dec-20	31-Mar-21	30-Jun-21
Promoters	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%	74.93%
Institutional Investors	0.13%	0.04%	0.03%	0.03%	0.03%	0.03%	0.04%	0.03%	0.03%	0.03%	0.03%	0.06%	0.03%
Public & other shareholding	24.94%	25.03%	25.04%	25.04%	25.04%	25.04%	25.03%	25.04%	25.04%	25.04%	25.04%	25.01%	25.04%
Total	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Total no. of shareholders	**54,667 **	49,870	46,463	46,077	45,470	45,220	44,905	44,988	45,245	**45,051 **	44,447	**44,104 **	43,447

==> picture [571 x 160] intentionally omitted <==

----- Start of picture text -----

Number of shareholders
56,000 54,667
52,000
49,870
48,000
46,463 45,470
44,905 45,245
44,447
46,077 43,447
44,000 45,220 44,988 45,051
44,104
40,000
----- End of picture text -----

==> picture [525 x 35] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

16

TGIL Market ~~Capitalization~~

==> picture [902 x 311] intentionally omitted <==

----- Start of picture text -----

Timex Share Price vs BSE Small Cap
6 year CAGR: 8%
44 26000
49,365
50,000
25000
40
42,853 43,156
42,349
41,188
24000
40,000
36 23000
30,941
22000
30,000
32
21000
21,805
20,000 28 20000
Jun-15Jan-15 Jun-16Jan-16 Jun-17Jan-17 Jun-18Jan-18 Jun-19Jan-19 Jun-20Jan-20 Jun-21Jan-21 01-Apr-21 21-Apr-21 11-May-21 31-May-21 20-Jun-21
Market Capitalisation (Rs. in lakh)
Timex BSE Small Cap
----- End of picture text -----

Note: The market capitalization is based on BSE closing prices at the end of the period

==> picture [85 x 9] intentionally omitted <==

17

About Us

==> picture [960 x 425] intentionally omitted <==

----- Start of picture text -----

18
----- End of picture text -----

Timex Grou ~~p is America~~ ’ ~~s Oldest Watchmaker, Established in 1854 in Connecticut, USA~~

Designs, manufactures and distributes products to consumers around the world

==> picture [859 x 291] intentionally omitted <==

167 11+ YEARS OF EXPERIENCE GLOBAL BRANDS

2.7B WATCHES SOLD

120 3,000 DISTRIBUTORS GLOBAL EMPLOYEES

==> picture [85 x 9] intentionally omitted <==

19

Our Unique ~~Capabilities Set Us Apart in Crafting Watches and Bringing Them to the World~~

==> picture [145 x 145] intentionally omitted <==

==> picture [145 x 145] intentionally omitted <==

==> picture [145 x 145] intentionally omitted <==

==> picture [149 x 148] intentionally omitted <==

STRONG POWERFUL SUPERIOR BEST-IN-CLASS BRAND DISTRIBUTION WATCHMAKING DESIGN PORTFOLIO NETWORK & SUPPLY CHAIN

==> picture [85 x 9] intentionally omitted <==

20

About TGIL

Timex Group India Limited (TGIL) is a group company of Tanager Group B.V. (formerly known as Timex Group B.V.)

Having entered India in 1988, Timex Group India today has one of the most powerful portfolios of brands in the watch industry. With technological innovation and cutting-edge design, we recognize the tremendous opportunity to leverage the reach and appeal of each brand’s individual identity, personality, and customer base.

Locations

Noida [Headquarters], New Delhi [Registered Office] Baddi, Himachal Pradesh [Factory]

Regional Sales Offices – Noida, Mumbai, Kolkata, Bangalore, Chennai

1988-1990 Joint venture between Timex Group and Jayna Times Industries Ltd.

1990-2000 Joint Venture with Titan Company. JV ended in 2000.

Since 1994 Public Limited Company listed on Bombay Stock Exchange.

Since 2000 Subsidiary of Timex Group Luxury Watches B.V.

==> picture [301 x 337] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

21

TGIL Board ~~of Directors~~

David Thomas Payne | Chairman

Experience: 22+ years

Qualification: B. Sc. (Computer Science) - University of Alabama & a Juris doctorate from Washington & Lee University

Sharmila Sahai | Managing Director

Experience: 30+ years

Qualification: B.A., Post Graduate Diploma in Marketing Management from the Centre of Management & Development

Sylvain Tatu | Non-Executive Director

Experience: 25+ years

Qualification: Mechanical Engineer, Masters in Business Administration

Pradeep Mukerjee | Independent Director

Experience: 30+ years

Qualification: Masters in Personal Management & Industrial Relations from TISS & IR & B. Sc. from IIT

Gagan Singh | Independent Director

Experience: 30+ years

Qualification: Chartered Accountant and Cost Accountant

Bijou Kurien | Independent Director

Experience: 35+ years

Qualification: PGDBM from XLRI & Science Graduate

==> picture [85 x 9] intentionally omitted <==

22

Design Cred ~~entials~~

==> picture [386 x 362] intentionally omitted <==

BEST-IN-CLASS DESIGN

Design Fuses Consumer Expectations with the Brand DNA

Based in Milan and lead by Giorgio Galli, whose name is synonymous with innovation, originality and imagination, our dynamic design team is one of the most admired in the industry.

Immersed in brand DNA and connected to consumer expectations, the design team focuses on individuality and relevance to bring brands to life.

Apart from Milan, Timex also has design studios in India and Hong Kong.

==> picture [85 x 9] intentionally omitted <==

23

Brand Portf ~~olio~~

One of the strongest portfolios in the watch industry across consumer segments

==> picture [182 x 18] intentionally omitted <==

==> picture [742 x 184] intentionally omitted <==

TGIL Brand Portfolio

==> picture [53 x 11] intentionally omitted <==

==> picture [88 x 17] intentionally omitted <==

==> picture [70 x 13] intentionally omitted <==

==> picture [52 x 17] intentionally omitted <==

==> picture [81 x 17] intentionally omitted <==

==> picture [75 x 21] intentionally omitted <==

==> picture [61 x 23] intentionally omitted <==

==> picture [52 x 15] intentionally omitted <==

==> picture [68 x 17] intentionally omitted <==

Additional Global Brands

==> picture [53 x 32] intentionally omitted <==

==> picture [25 x 19] intentionally omitted <==

==> picture [33 x 32] intentionally omitted <==

==> picture [68 x 40] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

24

Powerful Di ~~stribution Network~~

Nearly 8000 sales touchpoints that enable TGIL to reach consumers across the country

==> picture [382 x 279] intentionally omitted <==

----- Start of picture text -----

Multi-Brand Large Format Defence
Doors Stores Canteens
6145 329 1395
Timex World Luxury Retail E-Commerce
Showrooms Doors Partners
49 47 5
----- End of picture text -----

==> picture [322 x 38] intentionally omitted <==

==> picture [67 x 67] intentionally omitted <==

==> picture [69 x 35] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

25

Supply Chai ~~n: We are a True Global Watchmaker, with the Owned Capabilities to Create and Assemble Every Component of a Watch~~

==> picture [94 x 94] intentionally omitted <==

==> picture [94 x 94] intentionally omitted <==

==> picture [72 x 10] intentionally omitted <==

----- Start of picture text -----

Middlebury, USA
----- End of picture text -----

Middlebury, USA Besancon, France HQ & Watchmaking Movement Production

==> picture [94 x 94] intentionally omitted <==

==> picture [94 x 94] intentionally omitted <==

==> picture [94 x 94] intentionally omitted <==

==> picture [94 x 94] intentionally omitted <==

Pforzheim, Germany Lugano, Switzerland Baddi, India Cebu, Philippines Research and Development Watchmaking Manufacturing Manufacturing

==> picture [713 x 200] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

26

Baddi Plant: ~~Superior Watchmaking & Supply Chain~~

A state of the art SA 8000: 2014 and

OHSAS: 18001:2018 certified watch assembly unit

in Baddi, Himachal Pradesh, India

Land Area: 10,000 sq. meters; Built up area: 3,278 sq. meters.

Assembly of watches from piece parts to complete watch. Currently handling over 50 types of watch – movements.

Assembly capacity of 10 k watches per day.

Includes assembly of digital, Analogue, Ana-Digi, Indiglo®. We have also assembled Smart-bands in the Baddi factory.

Assembly operation starts with assembling of fit-up i.e., by mounting dial and hands on the movement.

Online and Offline Assembly capability to accommodate both high & low volume movements.

==> picture [180 x 125] intentionally omitted <==

==> picture [323 x 215] intentionally omitted <==

==> picture [227 x 125] intentionally omitted <==

==> picture [227 x 169] intentionally omitted <==

----- Start of picture text -----

CERTIFICATIONS
SA8000:2014 ISO45001:2018
----- End of picture text -----

==> picture [85 x 9] intentionally omitted <==

27

TGIL After S ~~ales Service~~

Over 200 locations supported by a Customer Care Call Centre service

Authorized Lead Authorized Authorized Service Workshops Service Centres Service Centres 5 17 205

==> picture [117 x 67] intentionally omitted <==

==> picture [84 x 55] intentionally omitted <==

==> picture [24 x 23] intentionally omitted <==

==> picture [82 x 61] intentionally omitted <==

==> picture [95 x 59] intentionally omitted <==

==> picture [60 x 46] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

28

==> picture [54 x 81] intentionally omitted <==

==> picture [182 x 18] intentionally omitted <==

==> picture [85 x 9] intentionally omitted <==

29