Timex Group India Ltd — Investor Presentation 2021

Jun 30, 2021

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June 30, 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 Q4 of FY 2021

Dear Sir,

Please find enclosed an Investor Presentation covering the performance highlights of the Company for Q4 of FY 2021.

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

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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

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Timex Group India Limited Investor Presentation Q4 FY2020-21

30 June 2021

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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.

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Busines ~~s Update~~

A highly volatile and challenging year with unprecedented situations caused by COVID-19 pandemic.

FY2020-21 was a highly volatile and challenging year. Covid-19 impacted human lives across socio-economic strata and political borders. Operational challenges arising out of lockdowns and restricted movement disrupted supplies and took an unprecedented toll on business.

The watch industry, being in the non-essential consumer discretionary category and dependent largely on the retail channel, was severely impacted.

Early on, our focus was on health & safety of our people, putting in measures at all TGIL locations to ensure the wellbeing and safety of our team.

Catering to the demand arising out of changed behavior and needs, the Company was quick to realign its plans to the emerging market and consumer scenario. The Company entered new segments and positioned its product launches to meet the changing consumer tastes.

Channel shift to E-Commerce, fast growing tech wearables segment, a new e-retail venture, and OEM verticals have supported the Company during Covid times and continue to be strong sustainable revenue streams for the future.

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United Colo ~~rs of Benetton.~~

New Brand License

Benetton India inks licensing agreement with Timex to launch watches

Timex Group India has joined hands with Benetton, one of the most popular fashion brands in the world, to introduce an exclusive line of watches in the Indian market.

This one-of-a-kind collaboration is part of a licensing deal where Benetton India will be at the forefront of creative inspiration stemming from the brand’s DNA of colors and social, while Timex India will spearhead the overall designing, manufacturing and distribution.

The partnership which is exclusive to the Indian market, is a strategic business move for both Benetton and Timex to deepen footprint and reach in the country.

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We Don’t St ~~op Campaign~~

This timeless message is even more relevant today

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WE DON’T STOP is the shared value or grit and resilience between Timex and our consumers.

It’s about pride and determination. It’s authentic and bold. It’s real people– diverse in culture, style and action–demonstrating passion as they navigate and shape the world around them.

It speaks to our legendary durability, our obsession with watchmaking, our constant innovation, challenging the status quo and staying true to our self.

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We Don’t St ~~op Campaign~~

This timeless message is even more relevant today

The world is evolving and shaping around us, and we celebrate stories of grit, resiliency and perseverance. Together we will challenge the status quo and inspire others to keep moving forward.

The We Don’t Stop film came to life with popular Indian film industry actor Sidharth Malhotra. His story of personal grit resonates with the brand and the consumers. The campaign which starred various celebrities received widespread social reach.

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We Don’t St ~~op Campaign~~

This timeless message is even more relevant today

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Celebrating ~~Love – Valentine~~ ’ ~~s Day 2021~~

Kicked off the year with Valentine’s Day launch with SWITCH-IT-UP, a collection of interchangeable strap watches, and moved into the launch of the Timex Q Colour Series, and other popular Timex collections.

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Growing We ~~arable Segment~~

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TIMEX FIT: S ~~pO2 & Temperature Smartwatch Launch~~

TGIL continued the impetus on smart wearables with the launch of its first SpO2 and Temperature enabled Smartwatch, TIMEX FIT.

Loaded with features and styled to move from the gym to the boardroom to the party floor, the Timex FIT smartwatch creates a unique blend of fashion and function.

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HELIX SMAR ~~T: First Smartwatch~~

Catering to changing consumer tastes, TGIL launched a youth smartwatch, HELIX SMART.

Designed for the youth, the Helix SMART collection has sleek stylish body with colorful straps and boasts of multiple features and modes.

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13

Financial Performance

Q4 FY2020-21

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TGIL Financi ~~al Performance~~

Improvement in financial performance during the quarter over last year but performance remains impacted due to the ongoing pandemic.

Revenue has de-grown by 1% during the quarter as compared to 23% during last quarter. During financial year revenue has de-grown by 44% over last year due to Covid 19 pandemic.

EBIDTA is at Rs. 515 lacs during the quarter as compared to negative Rs. 435 lacs last year. EBIDTA for the financial year is at negative Rs. 238 lacs as compared to Rs. 397 lacs last year.

Profit before tax for the quarter is at Rs. 388 lacs as compared to loss before tax of Rs. 559 lacs last year. During financial year loss before tax is at Rs. 811 lacs compared to loss before tax of Rs. 180 lacs last year.

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.

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TGIL Financi ~~al Performance – Current Quarter~~

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De-growth
Total Income - Quarter
(1%) 600 15.0%
EBIDTA
10.1%
400 EBIDTA %
Total Income 10.0%
515
7000
200
6000 5.0%
5147 5120
5000 0
4000 Q4 Q4 0.0%
19-20 20-21
3000 -200 -435
2000
-8.5% -5.0%
-400
1000
0
-600 -10.0%
Q4 Q4
19-20 20-21
Rs. in lakhs
Rs. in lakhs
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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.

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TGIL Financi ~~al Performance – Financial year ended 31st March 2021~~

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Total Income De-growth
(44%)
500 2.0%
1.6%
EBIDTA
Total Income 400 1.5%
EBIDTA %
30000 300 1.0%
25229
25000 200 397 0.5%
20000 100 0.0%
15000 14211 0 -0.5%
2019 2020
-100 -1.0%
10000 -238
-200 -1.7% -1.5%
5000
-300 -2.0%
0
2019 2020
• Revenue from operations includes other operating income for the quarter ended December 31, 2020, of Rs. 164 lacs on account of reversal of provisions against receivables, created during
quarter ended March 31, 2020.
Rs. in lakhs
Rs. in lakhs
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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.

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TGIL Annual ~~Financial Performance: Total Income~~

Total Income

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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
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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.

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TGIL Annual ~~Financial Performance: EBIDTA~~

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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
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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.

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TGIL Annual ~~Financial Performance: EBIDTA %~~

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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%
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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.

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TGIL Annual ~~Financial Performance: PBT~~

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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
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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.

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TGIL Shareh ~~olding Pattern~~

	31-Mar-18	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
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%	0.13%	0.04%	0.03%	0.03%	0.03%	0.03%	0.04%	0.03%	0.03%	0.03%	0.03%	0.06%
Public & other shareholding	24.94%	24.94%	25.03%	25.04%	25.04%	25.04%	25.04%	25.03%	25.04%	25.04%	25.04%	25.04%	25.01%
Total	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
Total no. of shareholders	55,785	54,667	49,870	46,463	46,077	45,470	45,220	44,905	44,988	45,245	45,051	44,447	44,104

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Number of shareholders
60,000
55,785
55,000
54,667
49,870
50,000
46,077
44,988 45,051
45,220 44,104
45,000 46,463
45,470 44,905 45,245
44,447
40,000
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TGIL Market ~~Capitalization~~

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6 year CAGR: Timex Share Price vs BSE Small Cap
6% 35 22000
33
60,000
21000
51,989
50,778
50,000
43,560 31
40,000 20000
30,184
27,660 29
30,000
19,181
20,000 19000
27
17,616
10,000
- 25 18000
Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 01-Jan-21 21-Jan-21 10-Feb-21 02-Mar-21 22-Mar-21
Market Capitalisation (Rs. in lakh)
Timex BSE Small Cap
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Note: The market capitalization is based on BSE closing prices at the end of the period

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About Us

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24
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Timex Grou ~~p is America~~ ’ ~~s Oldest Watchmaker, Established in 1854 in Connecticut, USA~~

Designs, manufactures and distributes products to consumers around the world

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167 11+ YEARS OF EXPERIENCE GLOBAL BRANDS

2.7B WATCHES SOLD

120 3,000 DISTRIBUTORS GLOBAL EMPLOYEES

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

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

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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.

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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

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Design Cred ~~entials~~

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How Giorgio Galli is subtly shifting Timex into one of the most exciting watch brands.

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A very reserved and elemental design that is an entirely low-key path for what amounts to a bold move from 165-year-old brand.

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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.

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Brand Portf ~~olio~~

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

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TGIL Brand Portfolio

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Additional Global Brands

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Powerful Di ~~stribution Network~~

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

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Multi-Brand Large Format Defence
Doors Stores Canteens
6145 330 1395
Timex World Luxury Retail E-Commerce
Showrooms Doors Partners
49 47 5
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Supply Chai ~~n: We are a True Global Watchmaker, with the Owned Capabilities to Create and Assemble Every Component of a Watch~~

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Middlebury, USA Besancon, France
HQ & Watchmaking Movement Production
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Pforzheim, Germany Lugano, Switzerland Baddi, India Cebu, Philippines Research and Development Watchmaking Manufacturing Manufacturing

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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.

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CERTIFICATIONS
SA8000:2014 ISO45001:2018
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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

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