COMPANY PROFILE OF TIMEX

CORPORATE PROFILE

Timex Group designs, manufactures and markets innovative timepieces and jewelry globally. Timex, founded in 1854, has expanded to become Timex Group, a privately-held company, with several operating units and over 5,000 employees worldwide. One of the largest watch makers in the world, Timex Group companies include the Timex Business Unit (Timex, Timex Ironman, Opex, TX, Nautica, Marc Ecko); Timex Group Luxury Watches (Valentino, Salvatore Ferragamo); Sequel (Guess, Gc) and Vertime (Versace, Versus). Timex Group built its reputation as the pioneer in timekeeping by harnessing the power and possibility of time. From the first clock and wristwatch we produced through data integration - from classic, time-honored designs through exclusive, luxury collector's pieces - Timex Group companies continue to deliver unparalleled quality to highly diverse and global customers. Milan to Hong Kong, design sensibility and creativity inspire multiple lifestyle brands. From th hallmark everyday e watches on which we built our reputation, to exclusive, high-end offerings, we are equipped to meet the needs of our brand partners. Timex Group India has one of the most powerful portfolios of brands in the watch industry. With technological innovation and cutting-edge design, we recognize the tremendous opportunity to leverage the reach and appeal of each brands individual identity, personality and customer base. With our global organization and breadth of expertise, we bring our partners from concept through design, manufacturing to distribution, to meet and exceed the brands criteria for success. Our global resources give Timex Group India a true advantage in a highly competitive marketplace. By thinking and acting both locally and globally, we are constantly challenging ourselves to look at the future.

TIMEX GROUP PRECISION ENGINEERING LIMITED

TIMEX established its state-of-the-art precision Tool room and Injection molding facility in 1992 to support production of plastic parts for watch business. The Toolroom went commercial in 1998 and after 10 years of success, the facility was established, as an independent business unit in the year 2008, as Timex Group Precision Engineering Ltd. By leveraging its vast experience in manufacturing of precision injection molds and injection molded parts, TGPEL has, in a short time, established itself as one of the leading commercial Tool Rooms in the country. Business Overview: Timex Group Precision Engineering Ltd (TGPEL) is ISO 9001:2000 certified by TUV Nord. The company provides a one stop solution to its customers for mold design, manufacturing, tryout, injection molded part production and sub assemblies. It specializes in manufacturing of High Precision Injection Molds up to 300 Ton capacity, using the latest technology Machines installed in a controlled environment. With quality at the core of the business, Premium quality Tool Steels (like Stavax, Orvar Supreme, Calmax etc) hardened through vacuum technology, are used to enhance tool performance. TGPEL has on its team, qualified and experienced staff from reputed institutes across the country backed by a strong Design Team well-versed on the latest Design software available in the industry. TGPEL offers internationally competitive and customized products with high focus on quality, cost, lead time and reliability. The customer portfolio boasts of major organizations in the Electrical, Switchgear, Automotive, Medical, Consumer Durables and FMCG segments in India and abroad.

Business Description: Timex Group India Limited (TGIL) is an India-based company. The Company is engaged in manufacturing and trading of watches, and the provision of related after-sales service. It operates in two segments: Watchesand Timex Global Services. Its Watches segment is engaged in manufacturing and trading of watches. The Company's Timex Global Services is engaged in the provision of information technology (IT) and finance related back office support. Its brands include Timex, Marc Ecko, Nautica and Salvatore Ferragamo. The Company's plant is located in Solan, Himachal Pradesh. During the fiscal year ended March

31, 2010 (fiscal 2010), the Company produced 1.661 million units of watches. During fiscal 2010, TGIL had a portfolio of 11 international brands 69 stores.

CODE OF CONDUCT
FOR DIRECTORS AND SENIOR MANAGEMENT All the Directors and Senior Management of the Company, hereinafter referred to as The Management must act within the bounds of the authority conferred upon them and with a duty to make and enact informed decisions and policies in the best interest of the Company and its shareholders. With a view to maintain high standards that the Company requires , the following rules / code of conduct should be observed in all activities of The Management.The Company has appointed the Company Secretary as the compliance officer fort the purposes of the code, who will be available to The Management questions and to help them comply with the code. 1. Honesty & Integrity "The Management" shall conduct their activities, on behalf of the Company and on their personal behalf, with honesty, integrity and fairness. "The Management" will act in good faith, responsibility, with due care, competence and diligence, without allowing their independent judgment to be subordinated. "The Management" will act in the best interests of the Company and fulfill the fiduciary obligations. 2. Conflict of Interest The Management" shall not engage in any business, relationship or activity, which may be in conflict of interest of the Company or the group.Conflicts can arise in many situations. It is not possible to cover every possible conflict situation and at times it will not be easy to distinguish , between proper and improper activity. Set forth, are some of the common circumstances that may lead to a conflict of interest, actual or potential a) "The Management" should not engage in any activity / employment that interferes with the performance or responsibility to the Company or is otherwise in conflict with or prejudicial to the Company. b) "The Management" and their immediate families should not invest in a Company, customer, supplier, developer or competitor and generally refrain from investments that compromise their responsibility to the Company. c) "The Management" should avoid conducting Company business with a relative or with a firm / Company in which a relative / related party is associated in any significant role. If such related party transaction is unavoidable, it must be fully disclosed to the Board of the Company. 3. Compliance "The Management" is required to comply with all applicable laws, rules and regulations, both in letter and spirit. In order to assist the Company in promoting lawful and ethical behavior, "The

Management" must report any possible violation of law, rules, regulation or the code of conduct to the Company Secretary. 4. Other directorships and management positions "The Management" must report / disclose their other directorships and/or senior management ship to the Board on an annual basis. It is felt that service on the Board of a direct competitor is not in the interest of the Company. 5. Confidentiality of Information Any information concerning the Company's business, its customers, suppliers etc., which is not in public domain and to which "The Management " has access or possesses such information, must be considered confidential and held in confidence, unless authori sed to do so and when disclosure is required as a matter of law. "The Management" shall not provide any information either formally or informally, to the press or any other publicity media, unless specially authorised. 6. Insider Trading "The Management" shall not derive benefit or assist others to derive benefit by giving investment advice and information about the Company, not in public domain which therefore constitutes as insider information. "The Management" is subject to additional requir ements relating to reporting and effecting transactions in Company securities. 7. Gifts & Donations "The Management " of the Company shall not receive or offer, directly or indirectly, any gifts, donations, remuneration, hospitality, illegal payments and comparable benefits which are intended (or perceived to be intended) to obtain business (or uncompetitive) favors or decisions for the conduct of business. Nominal gifts of commemorative nature, for special events may be accepted and reported to the Board. 8. Protection of Assets "The Management" must protect the Company's assets, labor and information and may not use these for personal use, unless approved by the Board. 9. Periodic Review Once every year or upon revision of this code, each member of the management team must acknowledge and execute an understanding of the code and an agreement to comply. New directors and senior management will sign such a deed at the beginning of their tenure. FOR EMPLOYEES 1. Purpose It is vital to the financial success of Timex Group India Limited that we conduct our business with honesty and integrity and in Compliance with all applicable legal and regulatory requirements. This code of Conduct sets out the fundamental standards to be followed by employees in their everyday actions on behalf of the Company. Further guidance on the Companys standards in specific areas will be provided through related corporate policies and guidelines.

2. Scope
The policy applies to Timex Group India Limited employees throughout India within all Sectors, regions, areas and functions.

3. Policy Each Timex Group India Limited employee must: a) Conduct the Companys business with honesty and integrity and in a professional manner that protects the companys good public image and reputation. b) Build relationships with customers, vendors and fellow employees based on trust and treat every individual with respect and dignity in the conduct of Company business. c) Become familiar with and comply with legal requirements and Company policy and procedures. d) Avoid any activities that could involve or lead to involvement in any unlawful practice or any harm to the Companys reputation or image. e) Avoid actual or potential conflicts or interests with the Company, or the appearances thereof, in all transactions. f) Provide accurate and reliable information in records submitted, safeguard the Companys confidential information, and respect the confidential information or other parties with whom the Company does business or competes. g) Promptly report to the Company any violations of law or ethical principles or Company policies that come to the employees attention and cooperate fully in any audit, enquiry, review or investigation by the Company. h) 3.8 Every employee has a duty of undivided loyalty to the Timex Group. This means that employees should make decisions objectively and in the Companys best interests. Competing personal interests can interfere with an employees judgment or create an unfavouarable impression or implication of impropriety. For these reasons, each employee should either avoid or fully disclose in writing to the company any activity, interest, association or relationship that could conflict with the independent exercise of his or her judgment in the best interests of the Company. Timex Group believes that most questions involving a potential conflict of interest can be equitably resolved if adequately disclosed to and reviewed by management. No policy can set out a complete list of all possible conflicts of interest. Some circumstances will clearly indicate a conflict, and in those cases, an employee should on his own initiative resolve or avoid the conflict. In many cases, it will be difficult to judge whether a conflict prohibited by this policy exists, and employees are encouraged to consult with their supervisors, Human Resources or the Legal Department before taking any action. Particularly difficult questions should always be discussed with the most senior executive responsible for the functional area or business group involved, or the President and CFO of Timex Group in appropriate cases. Employees will be asked from time to time to certify that they have read this policy and are unaware of any conflict or potential conflicts which have not been disclosed in accordance with this policy. Nevertheless, employees should disclose potential conflicts as soon as possible, and not wait for a formal request for certification. 4. Responsibility a) All employees must uphold these standards in the conduct of Company business and the Company must handle, in a manner consistent with these standards and related policies, all actual and apparent conflicts of interest between personal and professional rela tionships and all other matters governed by this code and such related policies. If a decision about a particular

action is not covered specifically by this code or related corporate policies, employees are required to seek guidance from their supervisor or appropriate internal resources, such as the Legal Department, Human resources or Compliance Officers. b) Senior management should be a role-model for these standards by visibly demonstrating support and by regularly encouraging adherence by managers. Managers should ensure all their employees receive guidance, training and communication on ethical behavior and legal compliance relevant to their duties for the Company. c) Failure by any employee to comply with this or any Timex group India Limited policy will subject employees to disciplinary up to and including separation from employment with the Company. d) When in doubt as to the correct action to take, ask the following question. Would I feel comfortable in explaining this action to my family or close friends or seeing my action reported on the front page of the local newspaper? The Company is best served when each employees answer to this question is an unqualified, Yes.

FINANCIALS
Result of Postal Ballot, 2008 (Click here to view) ( PDF Version) 2010-2011
Unaudited financial results for the qu arter ended 31 December, 2010 ( PDF Version) Unaudited financial results for the quarter ended 30 September, 2010 ( PDF Version) Unaudited financial results for the quarter ended 30 June, 2010 ( PDF Version)

Annual Report for the year 2010

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2009-2010
Audited financial results for the year ended 31 March, 2010 ( PDF Version) Unaudited financial results for the quarter and nine months ended 31 December, 2009 ( PDF Version) Unaudited financial results for the quarter and six months ended 30 September, 2009 ( PDF Version) Unaudited financial results for the quarter ended 30 June, 2009 ( PDF Version)

Financial Results for the year 2009

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2008-2009
Audited financial results for the year ended 31, March 2009 ( PDF Version) Unaudited financial results for the quarter and nine months ended 31 December, 2008 ( PDF Version) Unaudited financial results for the quarter and six months ended 30 September, 2008 ( PDF Version) Unaudited financial results for the quarter ended 30 June, 2008 ( PDF Version)