Timex Group India Limited (TIMEX.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

—

Levered DCF

—

After debt service

Piotroski score

—

Altman Z-score

—

Rating

—

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	33.56×	64.06×	102.17×	31.04×	-170.77×	-16.71×	-96.94×	73.31×
P/B	22.75×	23.96×	17.26×	20.19×	43.18×	22.04×	8.52×	24.35×
P/S	3.17×	3.74×	3.35×	3.19×	2.54×	1.98×	0.7×	2.27×
EV / EBITDA	22.86×	42.84×	42.51×	32.52×	77.02×	-124.16×	52.05×	49.41×
Gross margin	35.1%	42.4%	41.4%	43.1%	21.8%	44.0%	44.1%	47.7%
Operating margin	13.9%	32.2%	7.2%	9.3%	17.7%	-5.7%	0.5%	4.3%
Net margin	9.4%	5.8%	5.0%	12.1%	1.2%	-5.7%	-0.7%	3.1%
Current ratio	1.81×	1.92×	1.85×	1.47×	1.17×	1.14×	1.15×	1.18×
Debt / equity	0.32×	0.5×	0.14×	0.59×	2.25×	1.21×	1.61×	1.2×
Interest coverage	20.16×	48.05×	7.7×	6.63×	19.64×	-3.57×	0.42×	6.42×
Dividend yield	0.9%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	31.3%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	67.8%	37.4%	25.6%	76.9%	20.7%	-63.8%	-8.7%	33.2%
Return on invested capital	48.7%	91.5%	20.7%	32.1%	79.2%	-22.2%	1.4%	16.9%
Return on assets	22.3%	12.5%	10.4%	23.9%	2.5%	-7.6%	-1.3%	6.1%
Free cash flow yield	3.5%	-0.2%	2.2%	0.7%	-2.8%	8.0%	4.4%	0.3%
Earnings yield	3.0%	1.6%	1.5%	3.8%	0.5%	-2.9%	-1.0%	1.4%
Enterprise value	₹25.3B	₹20.5B	₹14.1B	₹12.6B	₹7.1B	₹2.9B	₹2.1B	₹5.7B
Net debt / EBITDA	0.01×	0.87×	0.23×	0.9×	3.79×	-5.95×	8.23×	2.13×
Cash conversion cycle (days)	80	135	100	104	63	-2	39	68