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Timex Group India Ltd logo

Timex Group India Ltd

NSE: TIMEXWATCH BSE: 500414

₹296.40

(-1.22%)

Wed, 25 Feb 2026, 03:38 am

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Company History

1988

  • The Company was incorporated on 4th October.
  • The company was originally established as a joint venture between Timex Group Limited, Bermuda and Jayna Times Industries Limited, an Indian company.

1989

  • The company received the Certificate of Commencement of Business on 5th January.

1990

  • Jayna Times Industries Limited withdrew from the project and was replaced by Titan Watches Limited.
  • A joint venture agreement was signed on 30th June.

1991

  • The name of the company was changed to Timex Watches Limited on 1st January.
  • The Company set up a plant to manufacture quartz watches having a capacity of 2.5 million watches per year.

1992

  • A technical collaboration agreement was entered with Timex Group Ltd. to provide technical assistance in establishing technologies and processes in India.

1993

  • The latest model 'Indiglo' was launched in November.
  • Several new metal cases were introduced in addition to several new styles in Duramite range.
  • The Company issued 40,00,000 - 12.5% secured partly convertible debentures of Rs. 140 each.

1994

  • The company proposed to set up a project for metal case manufacture and vacuum plating.
  • The improved performance was attributed to increased sales volume, economics of scale, cost reduction resulting from greater indigenisation, improved operating efficiencies and optimum deployment of surplus funds.

1995

  • The first company operated service centre was started in Noida in August.
  • The Company made payments aggregating to Rs. 19.04 crores by way of Central, State and local taxes and duties.
  • Free imports of Electronic Circuit Boards for watch manufacturing was permitted in the revised Import/Export Policy announced on 31 March, 1995.
  • The Company participated in a representation to the GOI to reduce excise duties from the current level of 10% to 2%.

1996

  • The first Company operated service centre in Noida started addressing after-sales-service requirements of the entire Northern Region of the country.

2000

  • The company proposed to issue and allot 45,00,000 No. of equity shares of Rs 10/- each at a premium of Rs 14.25 per share to Timex Watches B.V.
  • The company issued $7.5 million worth preferential shares to its US-parent Timex watches BV.
  • The company proposed to issue and allot 1,35,00,000 No. of equity shares of Rs 10 each at a premium of Rs 6.50 to Timex Watches B.V.
  • The Managing Director of the Company Mr. Richard J. Masilamani quit.
  • Timex Watches appointed Kapil Kapoor as managing director.

2001

  • The company launched its website www.timexindia.com.
  • Timex Watches B.V. acquired 1,70,00,000 equity shares of Rs 10/- each for cash at a premium of Rs 0.70 each on preferential basis.
  • The company launched the Matrix collection for the Indian mass market.
  • Bhagwan C Mirani resigned as director.
  • The company picked up a one-year sponsorship of a cricket analysis programme, Wisden 2020, on Doordarshan.

2002

  • The Board approved preferential allotment in favour of the promoter company.
  • Timex launched its big and bold watches at a price of Rs 1,395-Rs 2,195.

2003

  • Mr. Kapil Kapoor relocated to the corporate headquarter at Middlebury, USA and became part of the corporate marketing team.
  • The Board of Directors decided to issue and allot 25,00,000 0.1% Non-Cumulative Redeemable Preference Shares of Rs 100 each to Timex Watches B V.
  • The Board approved capital restructuring.
  • Timex Watches Ltd was given a Superbrand status by the Superbrands Council.
  • Timex Watches Ltd tied up with Reliance Infocomm for the festive season.
  • The company approved its financial restructuring scheme.
  • Timex Watches opened a new vendor plant in Noida, near Delhi.
  • FCUK tied up with Timex for marketing.

2006

  • Timex launched Versace in India.

2007

  • The company name was changed from Timex Watches Ltd to Timex Group India Ltd.

2009

  • Mr. Pradeep Mukherjee was appointed as an Additional Director of the Board.

2011

  • Mr. Kapil Kapoor was appointed as Chairman of the Company.

2012

  • Mr. Sachin Selot was appointed as Chief Financial Officer of the Company.

2013

  • Gary Piscatelli was appointed as the Chairman of the company.
  • The Registered Office of the Company was shifted to JA - 1203, 12th Floor, DLF Tower A, Jasola, New Delhi - 110025.

2014

  • Mr. Ryan Todd Roth was appointed as an Additional Director and Vice Chairman of the Company.

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