Timken India Ltd
Timken India Ltd is engaged in the manufacturing, distribution and sale of anti-friction bearings, components, accessories and mechanical power transmission products for the customer base across different sectors. It also provided maintenance contracts and refurbishment services and industrial services.
It was incorporated in 1987 and is a part of the global Timken Group.[1][2]
- Market Cap ₹ 20,690 Cr.
- Current Price ₹ 2,751
- High / Low ₹ 4,818 / 2,351
- Stock P/E 51.5
- Book Value ₹ 344
- Dividend Yield 0.09 %
- ROCE 23.4 %
- ROE 17.6 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 21.4% CAGR over last 5 years
Cons
- Stock is trading at 8.01 times its book value
- Promoter holding has decreased over last 3 years: -16.8%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Bearings Industry: Bearings
Part of BSE Allcap Nifty 500 BSE SmallCap Select Index BSE Capital Goods BSE 400 MidSmallCap Index
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
686 | 719 | 926 | 1,042 | 1,056 | 1,233 | 1,664 | 1,617 | 1,411 | 2,203 | 2,807 | 2,910 | 3,106 | |
613 | 646 | 792 | 880 | 898 | 1,070 | 1,375 | 1,254 | 1,159 | 1,692 | 2,246 | 2,337 | 2,526 | |
Operating Profit | 73 | 73 | 134 | 162 | 158 | 163 | 289 | 363 | 252 | 511 | 560 | 572 | 579 |
OPM % | 11% | 10% | 14% | 16% | 15% | 13% | 17% | 22% | 18% | 23% | 20% | 20% | 19% |
5 | 10 | 6 | 3 | 10 | 21 | 16 | 23 | 20 | 14 | 53 | 41 | 48 | |
Interest | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 1 | 2 | 3 | 4 | 4 |
Depreciation | 14 | 16 | 17 | 22 | 29 | 43 | 79 | 77 | 75 | 84 | 87 | 85 | 86 |
Profit before tax | 64 | 66 | 122 | 142 | 138 | 140 | 224 | 306 | 195 | 438 | 524 | 524 | 538 |
Tax % | 31% | 32% | 34% | 35% | 30% | 34% | 34% | 20% | 27% | 25% | 25% | 25% | |
44 | 45 | 81 | 92 | 97 | 92 | 149 | 246 | 143 | 327 | 391 | 392 | 402 | |
EPS in Rs | 6.94 | 6.58 | 11.87 | 13.50 | 14.29 | 13.53 | 19.76 | 32.72 | 19.04 | 43.49 | 51.95 | 52.13 | 53.44 |
Dividend Payout % | 29% | 99% | 25% | 7% | 7% | 7% | 5% | 153% | 8% | 3% | 3% | 5% |
Compounded Sales Growth | |
---|---|
10 Years: | 15% |
5 Years: | 12% |
3 Years: | 27% |
TTM: | 10% |
Compounded Profit Growth | |
---|---|
10 Years: | 24% |
5 Years: | 21% |
3 Years: | 40% |
TTM: | 13% |
Stock Price CAGR | |
---|---|
10 Years: | 16% |
5 Years: | 28% |
3 Years: | 9% |
1 Year: | -4% |
Return on Equity | |
---|---|
10 Years: | 17% |
5 Years: | 18% |
3 Years: | 20% |
Last Year: | 18% |
Balance Sheet
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 64 | 68 | 68 | 68 | 68 | 68 | 75 | 75 | 75 | 75 | 75 | 75 | 75 |
Reserves | 278 | 314 | 370 | 462 | 550 | 634 | 1,266 | 1,501 | 1,268 | 1,582 | 1,962 | 2,342 | 2,509 |
0 | 3 | 3 | 4 | 8 | 16 | 23 | 24 | 35 | 32 | 31 | 25 | 18 | |
122 | 114 | 144 | 168 | 251 | 261 | 411 | 380 | 510 | 505 | 489 | 545 | 598 | |
Total Liabilities | 463 | 500 | 585 | 702 | 877 | 979 | 1,775 | 1,980 | 1,888 | 2,194 | 2,557 | 2,988 | 3,200 |
79 | 97 | 107 | 137 | 231 | 251 | 795 | 748 | 818 | 860 | 843 | 853 | 824 | |
CWIP | 26 | 26 | 27 | 21 | 58 | 54 | 64 | 157 | 97 | 50 | 53 | 104 | 291 |
Investments | 32 | 23 | 17 | 38 | 91 | 55 | 176 | 13 | 0 | 99 | 236 | 161 | 238 |
326 | 354 | 435 | 506 | 498 | 619 | 741 | 1,063 | 973 | 1,185 | 1,424 | 1,870 | 1,847 | |
Total Assets | 463 | 500 | 585 | 702 | 877 | 979 | 1,775 | 1,980 | 1,888 | 2,194 | 2,557 | 2,988 | 3,200 |
Cash Flows
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
13 | 44 | 42 | 101 | 164 | 39 | 249 | 348 | 189 | 33 | 341 | 340 | |
-17 | -30 | -23 | -67 | -126 | -64 | -106 | -104 | -67 | -75 | -45 | -228 | |
-16 | -14 | -26 | 1 | -5 | -2 | -23 | -13 | -379 | -15 | -15 | -17 | |
Net Cash Flow | -20 | -0 | -7 | 36 | 34 | -27 | 119 | 230 | -257 | -57 | 281 | 94 |
Ratios
Figures in Rs. Crores
Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 69 | 75 | 69 | 68 | 66 | 66 | 66 | 66 | 96 | 89 | 75 | 82 |
Inventory Days | 123 | 112 | 110 | 108 | 111 | 121 | 125 | 124 | 171 | 171 | 125 | 142 |
Days Payable | 58 | 60 | 57 | 65 | 92 | 97 | 92 | 92 | 156 | 100 | 76 | 82 |
Cash Conversion Cycle | 134 | 128 | 122 | 110 | 85 | 90 | 99 | 98 | 112 | 160 | 124 | 142 |
Working Capital Days | 98 | 106 | 99 | 93 | 73 | 101 | 85 | 78 | 95 | 122 | 106 | 112 |
ROCE % | 19% | 19% | 30% | 30% | 24% | 21% | 22% | 21% | 13% | 29% | 28% | 23% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Management
26 Mar - Resignation of CFO Avishrant Keshava; Sujit Kumar Pattanaik appointed as new CFO.
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Closure of Trading Window
20 Mar - Closure of trading window from April 1, 2025.
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Update On New Manufacturing Facility At Bharuch
20 Mar - Commencement of production at Bharuch facility in Q1 FY 2025-2026.
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Outcome Of Board Meeting-Capacity Addition - Jamshedpur
13 Mar - Investment of Rs 120 crores for capacity addition.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
14 Feb - Transcript of Q3 FY '25 Post-Results Conference Call.
Annual reports
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from nse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2012
from nse
Concalls
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Feb 2025TranscriptPPT
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Nov 2024TranscriptPPT
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Aug 2024TranscriptPPT
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May 2024TranscriptPPTREC
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May 2024TranscriptPPT
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Feb 2024TranscriptPPT
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Nov 2023TranscriptPPT
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Aug 2023TranscriptPPT
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Jun 2023TranscriptPPT
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May 2023Transcript PPT
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Dec 2022TranscriptPPT
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Jun 2022TranscriptPPT
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Jun 2016TranscriptNotesPPT
History
Timken India Limited was incorporated in 1987 as Tata Timken Limited, a JV between Tata Iron and Steel Company and The Timken Company. It commenced commercial production at its Jamshedpur plant in March 1992. TISCO and TIMKEN each held a 40% equity stake in the company and the public held the rest.
In 1999, Timken acquired from Tata Steel its 40% stake in Tata Timken Limited. The name of the Company was changed to Timken India Limited on July 2, 1999. [1]