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Highlights
- The presented financial data is Standalone to provide a comprehensive overview of the company performance.
- Sales over the Year and quarter: The company experienced a substantial growth of 2.24 % in the past year, substantial increase in net sales/revenue by 18.04 %.
- Income over the Year and quarter: There has been either a marginal increase or a decline in other income over the past year which is 40.54 %. Marginal decrease of -64.86% in other income during this quarter.
- Profit over the Year and quarter: Challenges in sustaining profitability for Timex Group India Ltd. Profit dropped by -42.82 % Year to Year, Timex Group India Ltd’s profitability dropped by -65.68 % Quarter to Quarter.
- EPS over the Year and quarter: EPS declined by -75.00 % Year to Year. EPS decreased by -82.86 % in previous quarter. Analysis needed for shareholder value.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 106.29 Cr | Rs. 92.06 Cr | Rs. 108.67 Cr | + 18.04 % | + 2.24 % |
| Expenses | Rs. 98.97 Cr | Rs. 82.37 Cr | Rs. 104.43 Cr | + 26.78 % | + 5.52 % |
| Operating Profit | Rs. 7.32 Cr | Rs. 9.69 Cr | Rs. 4.24 Cr | -56.24 % | -42.08 % |
| OPM % | 6.89 % | 10.53 % | 3.9 % | -6.63 % | -2.99 % |
| Other Income | Rs. 0.37 Cr | Rs. 1.48 Cr | Rs. 0.52 Cr | -64.86 % | + 40.54 % |
| Interest | Rs. 1.13 Cr | Rs. 0.88 Cr | Rs. 0.66 Cr | -25 % | -41.59 % |
| Depreciation | Rs. 0.89 Cr | Rs. 0.91 Cr | Rs. 0.85 Cr | -6.59 % | -4.49 % |
| Profit before tax | Rs. 5.67 Cr | Rs. 9.38 Cr | Rs. 3.25 Cr | -65.35 % | -42.68 % |
| Tax % | 25.04 % | 24.52 % | 25.23 % | + 0.71 % | + 0.19 % |
| Net Profit | Rs. 4.25 Cr | Rs. 7.08 Cr | Rs. 2.43 Cr | -65.68 % | -42.82 % |
| EPS in Rs | Rs. 0.24 | Rs. 0.35 | Rs. 0.06 | -82.86 % | -75 % |
Today, we’re looking at Timex Group India Ltd’s financial performance for the Q1(Jun 2024).Starting with the top line, the company reported a robust year-over-year sales growth of 2.24 %. However, it did see a marginal increase of 18.04 % from the previous quarter. Expenses ticked up slightly by 26.78 % quarter-on-quarter, aligning with the annual rise of 5.52 %. Operating profit, while down -42.08 % compared to last year, faced a quarter-on-quarter dip of -56.24 %, signaling a short-term contraction in margins.
The Operating Profit Margin (OPM) % contradicts this narrative, showing weakness on an annual basis with a decrease of -2.99 %, but a shrinkage of -6.63 % sequentially. Other income fell by -64.86 % compared to the last quarter, despite an annual growth of 40.54 %. Interest expenses dropped significantly by -25 % from the previous quarter, yet the year-over-year decrease remains at a moderate -41.59 %. Depreciation costs fell by -6.59 % quarter-on-quarter, yet on an annual scale, they experienced a reduction of -4.49 %. Profit before tax declined annually by -42.68 % but saw a reduction from the preceding quarter by -65.35 %.
Tax expenses as a percentage of profits increased slightly by 0.19 % compared to last year, with a more notable quarter-on-quarter increase of 0.71 %. Net profit fell by -42.82 % year-on-year but witnessed a -65.68 % contraction from the last quarter. And finally, Earnings Per Share (EPS) displayed an annual downturn of -75 % but a quarterly fall of -82.86 %. In summary, Timex Group India Ltd’s annual performance indicates steady growth, although the quarter-on-quarter figures suggest some areas may require strategic attention.
| Metrics | Previous Year | Previous Quarter | Current Quarter | Quarter to Quarter Difference | Year to Year Difference |
|---|---|---|---|---|---|
| Sales | Rs. 106.29 Cr | Rs. 92.06 Cr | Rs. 108.67 Cr | + 18.04 % | + 2.24 % |
| Expenses | Rs. 98.97 Cr | Rs. 82.37 Cr | Rs. 104.43 Cr | + 26.78 % | + 5.52 % |
| Operating Profit | Rs. 7.32 Cr | Rs. 9.69 Cr | Rs. 4.24 Cr | -56.24 % | -42.08 % |
| Net Profit | Rs. 4.25 Cr | Rs. 7.08 Cr | Rs. 2.43 Cr | -65.68 % | -42.82 % |
| EPS in Rs | Rs. 0.24 | Rs. 0.35 | Rs. 0.06 | -82.86 % | -75 % |
In reviewing Timex Group India Ltd’s 2024(Q1) financial snapshot, key trends emerge, shedding light on the company’s performance.Sales saw a robust 2.24 % year-on-year growth, however, there was a minor increase of 18.04 % from the previous quarter. Expenses rose by 5.52 % compared to the previous year, with a 26.78 % increase quarter-on-quarter. Operating Profit dropped by -42.08 % annually, and saw a -56.24 % decrease from the last quarter.
Net Profit showed yearly decrease of -42.82 %, and experienced a -65.68 % decrease from the previous quarter. Earnings Per Share (EPS) fell by -75 % annually, however dipped by -82.86 % compared to the last quarter. In essence, while Timex Group India Ltd faces strong annual decline indicators, short-term fluctuations suggest the need for agile strategies to navigate market dynamics effectively. That’s all for now in the financial sector.
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