What is the floor price? The announcements say 175 Rs but none of the brokers are allowing below 206.05 Rs. Is the retail floor
price based on the non-retail bids?
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How to know OFS final price of retail investors,cutoff price increased in retail share holders, cutoff price OFS placed orders also not get the OFS,which price place orders and all not understood,cutoff price place the orders means not get the OFS,how to get the OFS for retail share holders ..,Thank you..
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There is a high probability that the market price will drop below the offer price, especially with continuous lower circuits. Therefore, it is better to wait and observe. I don’t understand why the promoter would sell the stake at such low levels, as most companies typically sell at a maximum discount of 5-10%. Given the current trend with OFS and QIP, many stocks typically touch or potentially drop below the OFS price in the near term.
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Times FY 2025 AGM notes
Chairman David Thomas Payne speech:
- Revenues grew by 28% and profits by 54%.
- Growth momentum attributed to focused strategy to expand timex group brads, offer more aspirational domestic and international brands, Engagement enhanced through compelling storytelling and dynamic marketing initiatives.
- The trade channels comprising of distribution, dealers, showrooms was the largest contributor to revenue growth.
- Growth was also supported by expanding the e-com channel, increasing luxury segments sales and tactical marketing.
- Company is focused on analog watches as a core offering. Timex brand remains the primary focus and main revenue driver but anticipate significant growth at entry level from other brands like Helix and TMX.
MD Deepak Chabra Speech :
- Revenue doubled over 3 yrs period and profits went up by 4 times and Market cap grew by 6 times in years. Gained market share in India from 13 to 19 % while industry is growing at 11%.
- For FY 25 the large format stores which includes 42 of our retail stores in 2 formats Timex World( 22) and Just Watches(20) is the biggest sales channel contributing 50% of top line. This channel has grown by 26% last year.
- Ecomm contributed around 32% , it was 7% 3 years back and has grown significantly. IT has grown 31% in the last year.
- OEM business was at 16%, its largely with Aditya ( Allen solly , Peter England , Van huesen) where company makes watches for them from design to after sales is handled by Timex. EOM is done for other brands too like Woodlands. OEM business grew by 43% last year.
- CSD and rest of the business is very small at 2% over all sales.
- License portfolio consists of 15 brands and contributes 30% topline and has grown at 27% last year.
- Smart watches is a smaller business at 4% and grew at 23% last year.
- Ebidta 3 yrs back was 3% and now is at 9%.
- Regional breakdown of sales: North and west at 32% each, south at 28% and east at 8%.
- Sold 3.4 Million watches last year growth of about 14% at volume.
- 28% growth of fy 25 was due to 14% growth on volumes and 14% growth on value (ASP) level.
- Cater through 6000 POS, split as 5000 MBO , 400 Large format stores like shopper stop ,lifestyle etc. 500 CSD and 42 retail outlets.
- Added 8 new airports as POS total now at 12 POS.
- Launched justwatches.com , helix.com in addition to timex.com.
- Average Selling price ( ASP ) : Versace 1.05 Lakh ranging between 80,000/- to 4 Lakhs INR. GUESS at 15,000/-. Timex at 3400/- which was at 1800/- 3 yrs back has seen the largest move. Timex is now stretching to 20,000/- INR at upper limit.
- Fro 38 yrs company never paid any royalty to parent in USA. but starting from 2024 6% royalty for brands manufactured in India.
- Launching Fria for Premium offerings for Women at 10,000/-
- Brand recall : There are three things about brand and the marketing and the branding piece: awareness, relevance, and consideration. based on the survey by company which was done in 2023, awareness of Timex as a brand is amazingly high at 93%. relevance and consideration was low. Confusion about the association with Titan is prevalent.
- Ananya Pandey is chosen for celebrity endorsement.
- Capacity was at 3 million watches per year last year company produced 2.95 million hitting 95% utilisation. In jan 2025 Company invested in capex and now the capacity stand at 5.4 million watches per year.
- Company plans to increase the store count to 300 stores across the 2 formats in next 2-3 years starting from jan 2026.
- Company focus is on watches primarily , jewellery will be around 7% of sales in next 5 yrs. Guess watches are doing well so company would start with Guess jewellery in the jewellery segment. Company will be the first mover in this strategy as W&J concept is not prevalent in India.
- GST on watches is at 18%, company is prepared to act on any changes on this rate.
- Company gets all the brands which our parent company signs for any other part of the world at the same time.
- 2 and half exciting announcements from MD :
- *Launching Aston Martin from October 2025 , global premium brand. License acquired at global level, Parent will launch globally and In India the Indian entity will Launch it.
- Signed up Bhumi Pednekar for Versace as brand ambassador , the ad campaign will start in September 2025.
- Title Sponsor for India Beach Fashion Week, which happens every year or in Goa
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