Luxury Time (India) Limited is engaged in manufacturing high-precision engineered components primarily used in watches and select aerospace applications. It earns revenue through supplying watch stems, crowns, pushers, and aircraft connectors to global and domestic OEMs. These components are used in mid-range to high-end watches and in aviation electrical assemblies, where precision and durability are critical

The company’s key clients include Casio, Richemont, Citizen, Timex, Titan, Garmin, and several global watchmakers. Its major manufacturing facility is located in Vasai, spread over 88,000 sq. ft, equipped with CNC turning, milling, grinding, heat treatment, polishing and automated assembly infrastructure to support complex component manufacturing with tight tolerances.

The product portfolio includes watch crowns, stems, pushers, and aircraft connectors (plugs, receptacles, accessories). These components form essential parts of the client’s product life cycle since they directly impact functionality, precision and durability. While the company has long-term recurring orders from established customers, the RHP does not disclose a quantified order book. Execution is supported by strong in-house machining, polishing and quality-control capabilities.

The company has integrated the Koza Precision Engineering team, especially skilled polishers and setters, strengthening operational execution. Future plans include capacity enhancement, technology upgrades and expansion of precision-machining capabilities to cater to higher-value product segments and new global customers. Capex is aligned with scaling aerospace components and strengthening automated manufacturing processes.

Employees & Bankers

As of September 30, 2025, we have 17 employees. The Banker to the Company is Kotak Mahindra Bank Limited, HDFC Bank Limited

MANAGEMENT & VISION

The management aims to strengthen the company’s position as a global precision-component supplier by expanding machining capabilities, improving automation and enhancing surface-finishing expertise. Their growth vision includes entering new geographies, adding complex components, and increasing aerospace-sector penetration. For future capex and expansion, the company plans to utilise IPO proceeds, internal accruals and strategic long-term bank funding. The leadership focuses on maintaining strong customer relationships and building multi-year supply arrangements to ensure predictable growth.

INDUSTRY OVERVIEW

The company operates in the precision engineering and watch component manufacturing industry, servicing both domestic and international markets. The global watch industry is large and supported by continuous demand from fashion, luxury and smart-wear segments. India’s precision manufacturing sector continues to grow as global brands shift sourcing to cost-efficient and quality-driven suppliers. Industry growth is supported by rising disposable income, premiumisation and increased localisation. Globally, the watch market is dominated by major players in Switzerland, Japan and China. The aerospace connector market is also expanding due to growing aircraft production, electrification and safety requirements.

KEY RISK FACTORS

High Client Concentration Risk
A significant share of revenue comes from a limited set of global watch manufacturers. Any reduction, delay or discontinuation of orders from these key customers can materially impact revenue visibility and operational stability.

1. Dependence on Luxury & Mid-Segment Watch Demand
   A slowdown in global demand for watches—due to economic downturns, fashion shifts or technological transitions—can directly reduce orders for watch components and affect production planning.
2. Foreign Exchange & Export Dependence Risk
   The company serves multiple international clients, exposing revenue to currency fluctuations. Unfavourable movements in INR against major currencies may impact profitability if not fully hedged.
3. Precision Manufacturing Quality Requirements
   The business involves extremely tight tolerances. Any quality lapses, process deviation or customer rejection can lead to financial loss, stricter audits or termination of supply arrangements.
4. Capex Execution & Capacity Utilisation Risk
   Planned expansions require timely implementation and consistent order flow. Delays in commissioning new machinery or lower-than-expected utilisation can affect return on capital and margins.
5. Skilled Labour Dependence
   Manufacturing relies heavily on skilled machinists, polishers and setters. Attrition or shortage of trained manpower may disrupt production timelines and affect product quality.

KEY STRENGTHS, MOAT & FUTURE OPPORTUNITIES

1. Strong Global Customer Base
   Long-standing relationships with global watchmakers like Casio, Citizen and Richemont provide recurring demand, stability and global credibility, forming a strong competitive moat in precision component manufacturing.
2. Integrated Precision Manufacturing Capability
   The company’s 88,000 sq. ft facility with CNC machining, grinding, polishing and assembly enables full in-house manufacturing, ensuring tighter process control, consistent quality and efficient delivery timelines.
3. High-Skill Workforce & Koza Team Integration
   Addition of the Koza polishing and setting team enhances finishing quality and production flexibility. Skilled machinists and operators allow the company to maintain tight tolerances and handle complex designs.
4. Diversification into Aerospace Components
   Expansion into aircraft connectors provides a high-value market opportunity. This diversification reduces dependence on the watch industry while tapping into a globally growing aviation production cycle.
5. Increasing Automation & Technology Upgrades
   Planned capex focuses on adopting advanced machinery and automation, which will boost productivity, reduce manual errors and enhance the company’s ability to scale with rising customer demand.
6. Favourable Industry Outlook
   Growth in premium watches, smart wearables and aerospace manufacturing supports long-term demand for precision components, offering scope for volume expansion and supplying to new global brands.