The company accomplished an EBITDA-to-revenue ratio of 13%
New Delhi: Watchmaker Timex Group India Limited has announced its financial results for September 2023 on Wednesday. The company shared that it has maintained momentum and achieved revenue growth of 4% in the last quarter. The company accomplished an EBITDA-to-revenue ratio of 13%.
The company’s performance is attributed to business decisions and successful partnerships. The watchmaker focused more on e-commerce channels and expansion which were the important aspects of its growth in the quarter.
The quarter also saw a major increase in the effect of the marketing investments made in the previous quarter. This will further increase with the on-boarding of Ananya Pandey, the brand ambassador of its global campaign ‘Waste More Time’.
The strategic acquisition of ‘Just Watches’ by Timex Group in the last quarter aligns perfectly with the company’s future growth plans and has strengthened the direct connection with consumers. This expansion offers an extensive range of timepieces, resulting in a steady increase in the consumer base nationwide.
The company has shown robust growth in the previous quarter through its network of 6000 retail outlets and 29 exclusive brand stores in the country under the brand name Timex World.
In the first half, the company had a growth of 8% compared to the previous year, EBITDA stood at 10.4% of the revenue.
“I am happy to share that we are now consistently among the top 1000 publicly listed companies on BSE, with a current market capitalization of over Rs1900 crore,” said Deepak Chhabral, Managing Director of Timex.
