Timex Group (TGIL) – time to take notice?

AGM22

• Revenue – 264cr

• Distribution

  • Online

  • Offline

    • 5200 MBO are serviced, 600 new MBOs added in FY22

    • Large Format Stores – supply to 300, 35 stores newly added

  • Defense

    • 1300 defense canteens

  • OEM

  • Showrooms

    • Showrooms went down from 47 to 40 (?)

  • Channel revenue split – Trade – 40%, e-commerce – 25%, OEM – 15%, B2B – 10%, Canteen – 4%

• Revenue by Brands

  • Own Brands (Timex, TMX, Helix) – 73% contribution

  • 7% sales from licensed brands

  • OEM – 15% contribution

• Flipkart has license for 7-8 brands, Timex does contract manufacturing for Flipkart. Highly profitable business.

• A&P spends around 10%. Spend of 30cr on revenue of 264cr.

Other than this, he had given revenue guidance of 500cr in 2 years if memory serves right.

Disc – No investments, have sold shares in recent past