TIMKEN - Timken India Ltd Share Price

Industrial Products

₹2671.00+218.50(+8.91%)

Market Closed as of May 2, 2025, 15:30 IST

What does Timken India Ltd do?

Abrasives & Bearings •Capital Goods•Small Cap

Timken India Limited manufactures and distributes tapered roller bearings, other roller bearings, components, and accessories for the automotive sector and railway industry in India, the United States, and internationally. The company offers cylindrical roller, plain, spherical roller, tapered roller, thrust, precision, slewing, and ball bearing, as well as seals, maintenance tools, housed units, and wheel hub under the Timken brand; and integrated bearing assemblies, driveline center support bearings for commercial and light vehicles, and lubrication and lubrication systems. It provides mechanical power transmission products, such as encoders, gear boxes/transmissions, couplings and joints, belts, augers, linear motion products, brakes and clutches, commercial vehicles wheels and accessories and tools, and chains. In addition, the company offers maintenance contract and refurbishment services; and uptower and motor repair services. Timken India Limited was formerly known as Tata Timken Limited and changed its name to Timken India Limited in July 1999. The company was incorporated in 1987 and is based in Bengaluru, India. Timken India Limited operates as a subsidiary of The Timken Company.

Industry Group:Industrial Products

Employees:1,279

Website:www.timken.com

Income Statement for Timken India

Standalone figures (in Rs. Crores)

QuarterlyAnnual

Description	(%) Q/Q	Dec-2024	Sep-2024	Jun-2024	Mar-2024	Dec-2023	Sep-2023
Revenue From Operations	-10.9%	671	753	784	898	612	682
Other Income	9.1%	13	12	12	11	11	10
Total Income	-10.5%	685	765	796	909	623	692
Cost of Materials	-8.1%	216	235	234	251	208	202
Purchases of stock-in-trade	-13.9%	212	246	208	239	229	225
Employee Expense	2.4%	43	42	42	42	38	41
Finance costs	200%	1.06	0.94	1.09	1.1	0.85	0.9
Depreciation and Amortization	0%	21	21	22	22	21	21
Other expenses	-5%	114	120	126	124	107	107
Total Expenses	-8.4%	587	641	666	722	532	568
Profit Before exceptional items and Tax	-21.1%	98	124	130	187	91	124
Total profit before tax	-21.1%	98	124	130	187	91	124
Current tax	-30.3%	24	34	35	46	24	33
Deferred tax	21.1%	-0.12	-0.42	-1.32	-1.08	-0.59	-2.85
Total tax	-33.3%	23	34	34	45	24	31
Total profit (loss) for period	-18%	74	90	96	141	68	93
Other comp. income net of taxes	38.7%	0.27	-0.19	-0.69	0.91	-0.29	-0.09
Total Comprehensive Income	-16.9%	75	90	96	142	67	93
Earnings Per Share, Basic	-19%	9.88	11.96	12.8	18.8	8.98	12.37
Earnings Per Share, Diluted	-19%	9.88	11.96	12.8	18.8	8.98	12.37

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022	Mar-2021	Mar-2020	Mar-2019
Revenue From Operations	3.7%	2,910	2,807	2,203	1,411	1,618	1,664
Other Income	-23.1%	41	53	14	20	23	16
Total Income	3.1%	2,950	2,860	2,218	1,430	1,640	1,681
Cost of Materials	-1.8%	905	922	734	449	464	708
Purchases of stock-in-trade	20.8%	897	743	586	402	372	271
Employee Expense	3.2%	164	159	141	119	124	123
Finance costs	54.1%	3.79	2.81	2.4	1.44	2.75	1.76
Depreciation and Amortization	-2.3%	85	87	84	75	77	79
Other expenses	7%	457	427	358	254	271	324
Total Expenses	3.9%	2,426	2,336	1,779	1,235	1,334	1,457
Profit Before exceptional items and Tax	0%	524	524	438	195	306	224
Total profit before tax	0%	524	524	438	195	306	224
Current tax	1.5%	136	134	115	57	81	93
Deferred tax	-82.8%	-3.79	-1.62	-4.3	-5.41	-21.09	-17.63
Total tax	-0.8%	132	133	111	52	60	75
Total profit (loss) for period	0.3%	392	391	327	143	246	149
Other comp. income net of taxes	-669.6%	-0.77	0.77	-2.4	-0.32	-0.69	0.3
Total Comprehensive Income	-0.3%	391	392	325	143	245	149
Earnings Per Share, Basic	0.4%	52.13	51.95	43.49	19.03	32.72	19.92
Earnings Per Share, Diluted	0.4%	52.13	51.95	43.49	19.03	32.72	19.92

Summary of Latest Earnings Report from Timken India

Summary of Timken India's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.

Earnings Outlook

Last updated: Feb 25

Management Outlook and Key Points:

1. Financial Performance:

Q3 FY25 marked Timken India's best-ever December quarter with revenue of Rs.671 Cr (9.7% YoY growth). PBT margins stood at 14.6%, resilient despite unfavorable product mix. The company remains debt-free with strong cash reserves.

2. Bharuch Greenfield Project:

The new plant is near operational readiness, with machinery installation complete and HVAC finalization pending. Focused on spherical roller bearings (SRB) and cylindrical roller bearings (CRB), it targets 50"“60% capacity utilization in FY26, rising to 70"“75% in FY27. Exports and domestic substitution (replacing imports) are key drivers.

3. Segment-wise Performance (Q3 FY25):

Rail (17%): Steady growth (Rs.116 Cr) with a robust order book; expected to remain strong in Q4.
Exports (23%, Rs.152 Cr): Improved sequentially, with optimism around global demand (US/Mexico tariffs on China may benefit India).
Process Industries (20%), Distribution (19%), and Mobile (21%) showed stable performance.

4. Export & Global Strategy:

Exports are expected to grow moderately, leveraging India's cost competitiveness and potential tariff advantages. Parent company Timken's focus on "best-cost country sourcing" and local-for-local manufacturing strengthens India's role in the global supply chain.

5. Industry Outlook:

Rail: Sustained demand from Indian Railways and metros; no immediate concerns despite flat FY25 budget allocations.
Wind Energy: Growth in 3"“5 MW turbine installations (e.g., Adani projects) and gearbox exports.
CV/Construction: Moderately positive outlook tied to infrastructure spending and monsoon-driven tractor demand.

6. Strategic Priorities:

Ramp-up of Bharuch plant to capture SRB/CRB demand in cement, steel, and global markets.
Explore adjacencies (e.g., couplings, lubrication systems) and localization of larger bearings (up to 1.2 meters) for wind/cement sectors.
Monitor US trade policies and defense sector opportunities.

7. Risks/Cautions:

Global economic volatility (Europe slowdown, US policy shifts).
Gradual capacity ramp-up at Bharuch and customer approvals (PPAPs) may delay revenue scaling.

Overall, management remains confident in double-digit growth, driven by exports, rail, and new capacities, while maintaining margin resilience.

Q&A Session

Last updated: Feb 25

1. What were the segment-wise contributions in Q3 FY25?
Revenue segments: Rail (17%, Rs.116 crore), Mobile (21%, Rs.139 crore), Distribution (19%, Rs.127 crore), Process (20%, Rs.132 crore), Exports (23%, Rs.152 crore), and export incentives (1%).

2. How does the Rail segment's Q3 performance compare to Q4 expectations?
Rail saw sequential growth with a strong order book. Q4 may benefit from year-end order completions, though high base effects from the previous year's Rs.274 crore revenue could moderate growth.

3. What is the outlook for exports amid global challenges?
Exports grew modestly (Rs.152 crore) with potential upside from tariff shifts favoring India. Markets in Europe and the U.S. are stabilizing, with gradual recovery expected.

4. How is the Bharuch plant aligned with the parent company's strategy?
The plant aims to serve domestic and export markets, targeting 50-60% capacity utilization in FY26. Parent Timken emphasizes cost competitiveness and local-for-local sourcing.

5. What is the outlook for India's CV industry?
Moderate growth expected in construction equipment, tractors, and tippers. Heavy trucks may improve slightly but remain below peak levels.

6. What drives demand in the Railway segment?
Steady growth from metro, freight, and passenger projects. Localization of components like wheels and infrastructure investments support long-term traction.

7. What opportunities exist for localization/export expansion?
Potential in larger bearings (wind, cement), industrial motion products (couplings, chains), and new markets (palm oil, crushers). Integration with global supply chains prioritized.

8. What are the revenue targets for the Bharuch plant?
Focus on replacing imports and exporting new products. Targets 50-60% capacity utilization by FY26-end, scaling to 85% in 3 years. Revenue depends on product mix and customer approvals.

9. How will FY26 capacity utilization for Bharuch unfold?
Utilization to ramp up gradually, reaching 50-60% by FY26 Q4. Full utilization (85%) expected in 3 years, leveraging existing supply chains and customer relationships.

10. How might flat railway allocations impact growth?
No major concerns; order book remains healthy. Growth hinges on execution, wheel capacity expansion, and phased infrastructure upgrades.

11. How are export markets responding to trade dynamics?
Positive sentiment amid India's tariff negotiations. Parent Timken is cautiously optimistic, with potential gains from U.S.-China/Mexico trade shifts.

12. What drove Process segment performance?
Stable revenue (Rs.132 crore) from OE projects (steel, cement). Growth tied to African market expansions and domestic project execution.

13. What is the outlook for the wind industry?
India's shift to larger turbines (3-5 MW) and local gearbox assembly (e.g., Nanjing High) supports demand. Global volatility persists, but domestic projects remain robust.

Cash Flow for Timken India

Standalone figures (in Rs. Crores)

Description	(%) Q/Q	Mar-2024	Mar-2023	Mar-2022
Finance costs	54.1%	3.79	2.81	2.4
Change in inventories	-717.7%	-97.2	-11.01	-189.8
Depreciation	-2.3%	85	87	84
Unrealised forex losses/gains	76.2%	0.18	-2.45	-1.1
Dividend income	77.8%	17	10	1
Adjustments for interest income	473.8%	15	3.44	2.8
Net Cashflows from Operations	-4.9%	471	495	147
Income taxes paid (refund)	-15%	131	154	114
Net Cashflows From Operating Activities	-0.3%	340	341	33
Proceeds from sales of PPE	13300%	2.32	0.99	0.4
Purchase of property, plant and equipment	327.9%	262	62	80
Dividends received	77.8%	17	10	1
Interest received	473.8%	15	3.44	2.8
Net Cashflows From Investing Activities	-375.6%	-228.05	-47.16	-76.1
Payments of lease liabilities	550%	2.3	1.2	1
Dividends paid	0%	11	11	11
Interest paid	54.1%	3.79	2.81	2.4
Net Cashflows from Financing Activities	-12.8%	-17.37	-15.29	-14.7
Effect of exchange rate on cash eq.	-229.8%	-0.09	1.84	1.3
Net change in cash and cash eq.	-66.8%	94	281	-56.6

Pros

Buy Backs: Company has bought back it's stock in the past which is a good thing.

Balance Sheet: Strong Balance Sheet.

Growth: Good revenue growth. With 55.5% growth over past three years, the company is going strong.

Size: Market Cap wise it is among the top 20% companies of india.

Profitability: Recent profitability of 13% is a good sign.

Cons

No major cons observed.

The Good, Bad and Ugly

Growth

Profitability

Size

Dilution Rank

Balance Sheet

Momentum

Technicals

Smart Money

Insider Trading

Sector Comparison: TIMKEN vs Industrial Products

Comprehensive comparison against sector averages

Comparative Metrics

TIMKEN metrics compared to Industrial

Category	TIMKEN	Industrial
PE	49.40	31.65
PS	6.30	2.31
Growth	10.6 %	4.1 %

Performance Comparison

TIMKEN vs Industrial (2021 - 2025)

Key Insights

1. TIMKEN is among the Top 10 Industrial Products companies but not in Top 5.
2. The company holds a market share of 0.8% in Industrial Products.
3. In last one year, the company has had an above average growth that other Industrial Products companies.

Share Holdings

Understand Timken India ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.

Holding Pattern

Major Shareholders

Share Holding Details

As of 2025-03-31

Shareholder Name	Holding %
Timken Singapore Pte Ltd	51.05%
Hdfc Mutual Fund - Hdfc Mid-Cap Opportunities Fund	4.4%
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund	4.05%
Sbi Large & Midcap Fund	3.1%
Government Of Singapore	2.44%
Mirae Asset Large Cap Fund	2.23%
Invesco India Flexi Cap Fund	1.49%
Uti-Mid Cap Fund	1.4%
Hdfc Life Insurance Company Limited	1.2%
Tata Aia Life Insurance Co Ltd-Whole Life Mid Cap Equity Fund-Ulif 009 04/01/07 Wle 110	1.15%
Franklin India Bluechip Fund	1.02%

Overall Distribution

Distribution across major stakeholders

Ownership Distribution

Distribution across major institutional holders

Balance Sheet for Timken India

Standalone figures (in Rs. Crores)

Description	(%) Q/Q	Sep-2024	Mar-2024	Sep-2023	Mar-2023	Sep-2022	Mar-2022
Cash and cash equivalents	20.5%	395	328	237	158	38	15
Current investments	49.1%	238	160	243	236	193	99
Loans, current	-3.4%	0.1	0.13	3.42	3.89	3.4	3.1
Total current financial assets	4.6%	1,207	1,154	967	985	862	668
Inventories	-0.9%	661	667	631	569	579	558
Total current assets	3.8%	1,919	1,849	1,651	1,612	1,480	1,260
Property, plant and equipment	-4.2%	591	617	595	602	610	510
Capital work-in-progress	181.6%	291	104	73	53	45	50
Investment property	-1.2%	9.73	9.84	9.95	10	10	10
Goodwill	0%	181	181	181	181	181	181
Non-current investments	0%	0.03	0.03	0.03	0.03	0	0
Loans, non-current	0%	0.06	0.06	0.05	0.08	0.8	2.3
Total non-current financial assets	46.7%	23	16	12	11	8.1	10
Total non-current assets	12.5%	1,281	1,139	1,050	945	920	934
Total assets	7.1%	3,200	2,988	2,701	2,557	2,400	2,194
Total non-current financial liabilities	-12.5%	15	17	4.93	0.87	1	1.2
Provisions, non-current	-2.1%	47	48	49	50	50	52
Total non-current liabilities	-2.1%	95	97	91	92	96	101
Borrowings, current	-119.8%	0	6.04	5.42	29	20	30
Total current financial liabilities	12.8%	467	414	358	387	386	372
Provisions, current	31.1%	11	8.63	7.45	4.45	3.9	7.7
Current tax liabilities	0%	35	35	27	25	45	37
Total current liabilities	10.2%	521	473	403	427	442	436
Total liabilities	8.1%	616	570	493	519	538	537
Equity share capital	0%	75	75	75	75	75	75
Total equity	6.9%	2,584	2,417	2,208	2,037	1,862	1,657
Total equity and liabilities	7.1%	3,200	2,988	2,701	2,557	2,400	2,194

Valuation
Market Cap	20.09 kCr
Price/Earnings (Trailing)	49.98
Price/Sales (Trailing)	6.37
EV/EBITDA	32.01
Price/Free Cashflow	319.96
MarketCap/EBT	37.36

Fundamentals
Revenue (TTM)	3.15 kCr
Rev. Growth (Yr)	9.96%
Rev. Growth (Qtr)	-10.49%
Earnings (TTM)	401.99 Cr
Earnings Growth (Yr)	10.04%
Earnings Growth (Qtr)	-17.39%

Profitability
Operating Margin	17.05%
EBT Margin	17.05%
Return on Equity	15.56%
Return on Assets	12.56%
Free Cashflow Yield	0.31%

Investor Care
Dividend Yield	0.15%
Dividend/Share (TTM)	4
Shares Dilution (1Y)	0.00%
Diluted EPS (TTM)	53.44

Financial Health
Current Ratio	3.68
Debt/Equity	0.00
Debt/Cashflow	56.25

Is Timken India Better than it's peers?

Detailed comparison of Timken India against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.

Ticker	Name	Mkt Cap	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
SCHAEFFLER	Schaeffler IndiaAuto Components & Equipments	55.37 kCr	8.35 kCr	+7.29%	-5.51%	58.98	6.63	+13.60%	+3.54%
SKFINDIA	SKF IndiaAbrasives & Bearings	19.34 kCr	5.06 kCr	+2.41%	-17.03%	35.96	3.83	+11.17%	+7.68%
NRBBEARING	NRB BearingsAuto Components & Equipments	2.09 kCr	1.18 kCr	-0.64%	-32.63%	18.09	1.77	+2.91%	-52.59%
MENONBE	Menon BearingsAuto Components & Equipments	566 Cr	233.07 Cr	+10.98%	-21.83%	23.63	2.43	+9.07%	-14.01%

TIMKEN - Timken India Ltd Share Price

What does Timken India Ltd do?

Income Statement for Timken India

Summary of Latest Earnings Report from Timken India

Cash Flow for Timken India

Sector Comparison: TIMKEN vs Industrial Products

Comparative Metrics

Performance Comparison

Share Holdings

Holding Pattern

Share Holding Details

Overall Distribution

Ownership Distribution

Balance Sheet for Timken India

Valuation

Fundamentals

Profitability

Investor Care

Financial Health

Is Timken India Better than it's peers?

Price to Sales Ratio

Revenue (Last 12 mths)

Net Income (Last 12 mths)