Timex Group India, a watch manufacturer & marketer announced its financial results for the quarter that ended September 2023. The company achieved a revenue growth of 4 per cent over a substantially large base.
Additionally, Timex Group India witnessed an impressive 13 per cent EBITDA-to-revenue ratio, underlining sustainable growth.
According to the company, the performance of the brand Timex can be attributed to a series of strategic business decisions and partnerships aimed at expanding Timex’s consumer base nationwide. Strong momentum in ecommerce channels and expansion initiatives have been the key growth levers for the quarter.
The quarter also saw the after-effect of marketing investment made in the previous quarter IPL association. This continues further with the onboarding of Ananya Panday as the Brand Ambassador for the launch of its global campaign, Waste More Time.
Deepak Chhabra, Managing Director, said, “We are once again delighted to announce an impressive quarterly performance, reflecting Timex’s accomplishments. Our unwavering commitment to innovation, and strategic expansion has been the driving force behind this milestone and the sales results. I am happy to share that we are now consistently among the top 1000 publicly listed companies on BSE, with a current market capitalisation of over INR 1900Cr. We are thankful to our teams and our loyal consumers who continue to make us part of their good times.”
