Timken India Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2016 • Bearings & Components: 99.2% • Others: 0.8%
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Company has delivered good profit growth of 22.7% CAGR over last 5 years
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 21.0%
- Company has delivered good sales growth of 19.4% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.94x)
CONS
- Recent results are weak - TTM profit is down 30.1% versus prior year
- Stock is trading at 8.2x its book value
- Operating margins have contracted to 17.6% from 21.9%
- Growth is decelerating - 3Y profit CAGR (0.6%) trails the 5Y trend (22.7%)
- Though reporting repeated profits, the company pays out little dividend (4.7%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SCHAEFFLER | 3940.85 | 49.14 | 61596.93 | 0.89 | 325.78 | 13.47 | 2760.55 | 17.34 | 27.55 | 18.08 |
| TIMKEN | 3299.80 | 59.83 | 24820.68 | 0.08 | 1196.59 | 528.77 | 9433.20 | 891.45 | 19.14 | 18.83 |
| SKFINDUS | 2932.85 | 66.61 | 14499.41 | 0.34 | 61.92 | -48.96 | 970.77 | 34.72 | 15.89 | 9.09 |
| SKFINDIA | 1530.30 | 36.09 | 7565.49 | 2.61 | 61.92 | -47.62 | 587.79 | -54.19 | 22.09 | 14.99 |
| NRBBEARING | 515.75 | 33.89 | 4998.78 | 1.54 | 377.60 | 1050.87 | 3695.30 | 1091.84 | 18.31 | 17.23 |
| ROLEXRINGS | 173.00 | 29.84 | 4538.36 | 0.00 | 60.14 | 22.34 | 304.34 | 4.38 | 20.98 | 22.58 |
| BIMETAL | 659.80 | 22.10 | 252.37 | 2.05 | 3.94 | -7.06 | 79.53 | 10.98 | 7.01 | 6.32 |
| NIBL | 31.44 | 0.00 | 76.18 | 0.00 | -6.59 | -29.57 | 18.90 | 1.90 | -18.80 | -7.86 |
| AUSTENG | 127.00 | 10.39 | 44.17 | 0.00 | 0.94 | -38.76 | 32.28 | -10.68 | 8.16 | 4.86 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 718 | 682 | 612 | 898 | 784 | 753 | 671 | 940 | 809 | 773 | 764 | 1,073 | 929 | |
| 582 | 546 | 510 | 699 | 643 | 620 | 565 | 730 | 666 | 635 | 669 | 838 | 789 | |
| Operating Profit | 136 | 136 | 102 | 199 | 141 | 133 | 107 | 210 | 142 | 138 | 96 | 235 | 140 |
| OPM % | 18.91% | 19.87% | 16.74% | 22.13% | 17.98% | 17.71% | 15.86% | 22.32% | 17.60% | 17.91% | 12.54% | 21.92% | 15.08% |
| 9 | 10 | 11 | 11 | 12 | 12 | 13 | 14 | 10 | 10 | 6 | 3 | 10 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Depreciation | 21 | 21 | 21 | 22 | 22 | 21 | 21 | 21 | 21 | 27 | 29 | 30 | 31 |
| Profit before Tax | 123 | 124 | 91 | 187 | 130 | 124 | 98 | 202 | 130 | 121 | 72 | 207 | 150 |
| Tax % | 26.61% | 24.74% | 25.98% | 24.19% | 25.83% | 27.25% | 23.97% | 7.29% | 20.10% | 25.84% | 30.71% | 25.35% | 23.42% |
| Net Profit | 90 | 93 | 68 | 141 | 96 | 90 | 74 | 187 | 104 | 89 | 50 | 155 | 115 |
| 11.98 | 12.37 | 8.98 | 18.80 | 12.80 | 11.96 | 9.88 | 24.84 | 13.86 | 11.89 | 6.63 | 20.58 | 15.31 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,056 | 1,233 | 1,664 | 1,617 | 1,411 | 2,203 | 2,807 | 2,910 | 3,148 | 3,419 | 3,540 | |
| 898 | 1,070 | 1,375 | 1,254 | 1,159 | 1,693 | 2,246 | 2,337 | 2,556 | 2,808 | 2,930 | |
| Operating Profit | 158 | 163 | 289 | 363 | 252 | 511 | 560 | 572 | 592 | 612 | 610 |
| OPM % | 14.96% | 13.24% | 17.35% | 22.42% | 17.85% | 23.18% | 19.97% | 19.67% | 18.79% | 17.89% | 17.22% |
| 10 | 21 | 16 | 23 | 20 | 14 | 53 | 41 | 50 | 28 | 28 | |
| Interest | 1 | 1 | 2 | 3 | 1 | 2 | 3 | 4 | 4 | 4 | 3 |
| Depreciation | 29 | 43 | 79 | 77 | 75 | 84 | 87 | 85 | 85 | 106 | 116 |
| Profit before Tax | 138 | 140 | 224 | 306 | 195 | 438 | 524 | 524 | 553 | 530 | 550 |
| Tax % | 29.66% | 34.17% | 33.59% | 19.67% | 26.60% | 25.35% | 25.36% | 25.19% | 19.06% | 24.90% | 25.63% |
| Net Profit | 97 | 92 | 149 | 246 | 143 | 327 | 391 | 392 | 447 | 398 | 409 |
| EPS | 14.30 | 13.53 | 19.92 | 32.72 | 19.03 | 43.49 | 51.95 | 52.13 | 59.48 | 52.96 | — |
| Dividend Payout % | 6.99% | 7.39% | 5.06% | 152.80% | 7.88% | 3.45% | 2.89% | 4.80% | 60.53% | 4.72% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 13%
- 5 Years:
- 19%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 16%
- 5 Years:
- 23%
- 3 Years:
- 1%
STOCK PRICE CAGR
- 10 Years:
- 20%
- 5 Years:
- 14%
- 3 Years:
- 2%
- 1 Year:
- 9%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 18%
- 3 Years:
- 16%
- Last Year:
- 14%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 68 | 68 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 |
| 550 | 634 | 1,266 | 1,501 | 1,268 | 1,582 | 1,962 | 2,342 | 2,770 | 2,898 | |
| 27 | 38 | 43 | 47 | 58 | 50 | 45 | 33 | 38 | 42 | |
| Trade Payables | 157 | 197 | 233 | 216 | 335 | 329 | 344 | 386 | 397 | 603 |
| 73 | 449 | 614 | 416 | 451 | 570 | 470 | 611 | 735 | 774 | |
| Total Liabilities | 874 | 1,386 | 2,232 | 2,255 | 2,188 | 2,606 | 2,896 | 3,446 | 4,015 | 4,393 |
| 231 | 251 | 795 | 748 | 808 | 850 | 833 | 843 | 799 | 1,436 | |
| Capital Work in Progress | 58 | 54 | 64 | 157 | 97 | 50 | 53 | 104 | 592 | 101 |
| 91 | 55 | 176 | 13 | 0 | 99 | 236 | 161 | 117 | 180 | |
| 188 | 245 | 317 | 291 | 369 | 558 | 569 | 667 | 645 | 778 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 652 | 700 | 798 | |
| Cash & Bank | 18 | 27 | 24 | 417 | 174 | 18 | 162 | 331 | 397 | 224 |
| 288 | 754 | 857 | 630 | 739 | 1,031 | 1,042 | 688 | 765 | 875 | |
| Total Assets | 874 | 1,386 | 2,232 | 2,255 | 2,188 | 2,606 | 2,896 | 3,446 | 4,015 | 4,393 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 204 | 77 | 324 | 432 | 234 | 147 | 495 | 340 | 387 | 437 | |
| Cash from Investing | -125 | -64 | -110 | -102 | -69 | -76 | -47 | -228 | -338 | -404 |
| Cash from Financing | -5 | -2 | -23 | -13 | -379 | -15 | -15 | -17 | -27 | -279 |
| 34 | -27 | 116 | 233 | -259 | -58 | 279 | 94 | 22 | -245 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-19 - Pursuant to Regulation 44 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and other applicable provisions of law, we attach herewith consolidated Voting Results and Scrutinizer's Report on voting in connection with 39th Annual General Meeting of the Company held on Tuesday, 18 August, 2026 at 3.00 PM through Video Conferencing /Other Audio-Visual Means.
2026-08-18 - In terms of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith proceedings of 39th Annual General Meeting held on Tuesday, 18 August, 2026 at 3.00 PM (IST) through Video Conferencing /Other Audio Visual Means.
2026-08-11 - We enclose herewith copies of newspaper publications relating to Notice of Petition in the matter of Amalgamation of Timken GGB Technology Private Limited (a wholly owned subsidiary) with the Company.Copies of the same are available on the website of the Company at https://www.timken.com/en-in/investors/statutory-compliances/.We request you to kindly take this on record.Thanking you.
2026-08-10 - Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we attach herewith transcript of Post Results Conference Call Q1 FY 2026-27 held on Wednesday, 5 August, 2026. A copy of the same is available on the website of the Company.
2026-08-06 - Pursuant to Regulation 47 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we enclose herewith newspaper publications relating to Unaudited Standalone and Consolidated Financial Results for the quarter ended 30 June, 2026.
2026-08-05 - Timken India Limited has informed the Exchange about Link of Audio Recording
2026-08-04 - Timken India Limited has informed the Exchange about change in Management
2026-08-04 - Timken India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-30 - Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we write to inform you about schedule of conference call. Please see attachment for more details.
News
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