Timex Group India reports 4% revenue growth in FY24 Q2

Watch business Timex Group India Limited reported a 4% revenue increase in the second quarter of the 2024 financial year. The business has attributed this to a focus on e-commerce, strategic partnerships, and marketing investments made during the first quarter. 

Timex Group India Limited reported an earnings before interest, tax, depreciation, and amortisation to revenue ratio of 13% during the financial quarter ending on September 30, India Retailing reported. The business also reported that the first half of the 2024 financial year saw 8% year-on-year growth with an EBITDA to revenue ratio of 10.4%.
 
“I am happy to share that we are now consistently among the top 1,000 publicly listed companies on Bombay Stock Exchange, with a current market capitalisation of over Rs1,900 crore,” said Timex Group’s managing director Deepak Chhabral, India Retailing reported. 

The business has partnered with Bollywood celebrity Ananya Panday to promote its timepieces and appeal to a pan-India audience. Panday stars in Timex’s global campaign ‘Waste More Time’ and is currently promoting its festive watch line for women. 
 
Timex Group operates under the retail name Timex World and runs 29 Timex World stores spread across the country. The business also has a presence in around 6,000 retail outlets in India. Timex Group India Limited was incorporated in 1988 as a joint venture between Timex Corporation USA and Tata company Titan Watches, NDTV reported.