Timex Group India to Hold 38th AGM on August 20, Announces Dividend Declarations and Director Reappointment

Timex Group India to Hold 38th AGM on August 20, Announces Dividend Declarations and Director Reappointment​

Timex Group India Ltd. has set the stage for its 38th Annual General Meeting (AGM) scheduled for Thursday, August 20, 2026, at 4:00 PM. The meeting will be conducted through Video Conferencing (VC)/Other Audio-Visual Means (OAVM).

The AGM will include the adoption of the Audited Financial Statements for the Financial Year ended March 31, 2026, and several key resolutions concerning dividend payments to preference shareholders and a proposal for the reappointment of a director.

Key Business Items at the 38th Annual General Meeting​

The agenda includes critical financial decisions regarding dividends on Preference Shares, which relate to both completed periods and ongoing liabilities owed to Timex Group Luxury Watches B.V.

The AGM is scheduled to consider several resolutions pertaining to preference share holders. The approved dividend confirmations related to cumulative Redeemable Non-Convertible Preference Shares (2,29,00,000 shares of face value Rs. 10 each) include:


In addition, the meeting is set to grant approval for dividend payments to Timex Group Luxury Watches B.V. These resolutions cover three specific commitments:

• A payment totaling Rs. 22,500, equivalent to Rs. 0.009 per share on 0.09%, relating to 25,00,000 Non-Cumulative Redeemable NonConvertible preference shares for the financial year ended March 31, 2026.
• A payment totaling Rs. 14,00,00,000, or Rs. 0.5 per share on 5%, covering 3,50,00,000 cumulative redeemable non-convertible preference shares across eight financial years from FY 2018-19 to FY 2025-26.
• A payment totaling Rs. 4,20,74,861, or Rs. 1.075 per share on 10.75%, relating to 2,73,15,264 Cumulative Redeemable Non-Convertible Preference Shares for the financial year ended March 31, 2026 (including pro-rata amounts for FY 2024-25 and FY 2025-26).

Director Appointment Status​

A key item on the agenda is the proposal to appoint a director in place of Mr. David Thomas Payne (DIN: 07504820), who retires by rotation, with himself offering for appointment.

Mr. Payne, whose date of birth is July 26, 1971, has held a senior position at the company. His background includes expertise as Senior Vice President, General Counsel, HR and Corporate Secretary, specializing in licensing, employment law, corporate finance, international distribution, advertising, and trademark law.

Mr. Payne's directorship extends to numerous companies globally, including BTX, Inc., Sequel International, Inc., and Time Master Watches and Accessories Private Limited. For the financial year 2025-26, he has attended all seven Board meetings of the company. The remuneration sought for his reappointment is Nil.

TIMEX Stock Price Movement​

As of 2:55 PM, shares of Timex Group India Limited rally higher in live trading, currently priced at ₹566.4 after climbing a solid 6.07%. The stock maintains upward momentum as strong buying interest drives the trade volume to 304,440 shares so far today.