Timken India Ltd (TIMKEN)

Capital Goods · Bearings · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹3,200.2 ↑ 9.13% (1Y)

🎯 Key Takeaways

Timken India is in a strategic growth phase, leveraging strong execution in high-margin segments like rail and wind energy to drive sustainable earnings expansion. Management is actively optimizing its portfolio, advancing a merger with Timken GGB Technology, and scaling its Bharuch plant to capture structural growth in industrial demand.
Revenue declined 13.4% QoQ to ₹943 in Q1FY27.
⚠️ Execution risk in the GGB Technology merger, which depends on NCLT approval and integration success.

Market Cap

₹24,072

P/E Ratio

56.5

P/B Ratio

8.26

ROE

14.6%

ROCE

19.8%

Debt/Equity

0.00

Div Yield

0.08%

Promoter

51.0%

✨ Ask AI About TIMKEN 📊 Interactive Charts

📖 The Story

Timken India is in a strategic growth phase, leveraging strong execution in high-margin segments like rail and wind energy to drive sustainable earnings expansion. Management is actively optimizing its portfolio, advancing a merger with Timken GGB Technology, and scaling its Bharuch plant to capture structural growth in industrial demand.

📰 What's Happening

In Q1 FY27, Timken India reported a 15% YoY revenue increase to INR929 crores and a 15% YoY rise in PBT to INR150 crores, with adjusted PBT margin improving to 16.2% due to capitalized depreciation. The Bharuch plant is on track to reach 70% utilization by Q3 FY27, supported by ongoing capex of 8-10% of sales for rail expansion and plant scaling. Management highlighted wind energy projects and export demand — particularly in the U.S. — as key growth drivers, contributing to performance in mobile and process segments. The proposed amalgamation of Timken GGB Technology with Timken India is under NCLT review, with the first motion approved and a second application to be filed. Management emphasized cost efficiency through an 80/20 portfolio review and continued focus on high-margin segments.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	786	780	1,090	943
Operating Profit	116	72	212	146
OPM %	14.8%	9.2%	19.5%	15.5%
Net Profit	94	55	158	120
EPS	₹12.44	₹7.25	₹21.05	₹15.91

The company has demonstrated consistent top-line growth, with revenue rising from INR780 crores in Dec 2025 to INR943 crores in Jun 2026, accompanied by improving operating margins and profitability. Net profit increased to INR120 crores in Jun 2026 from INR55 crores in Dec 2025, reflecting operational momentum. However, margin expansion has been uneven, with Q3 FY26 showing lower OPM at 14.8% and Dec 2025 at 9.2%, suggesting seasonality or cost pressures that management is addressing through restructuring and efficiency initiatives. The recent margin improvement to 16.2% in Q1 FY27 indicates progress in margin recovery and operational discipline.

🔮 Management Outlook & What's Next

Management has signaled confidence in future growth by targeting 70% utilization at the Bharuch plant by Q3 FY27 and maintaining capex at 8-10% of sales for rail and plant expansion. The merger with Timken GGB Technology is progressing toward final approval, which management believes will unlock synergies and strengthen market position. They also emphasized ongoing portfolio optimization and cost efficiency measures to sustain margin improvement. No formal long-term guidance was provided, but the strategic focus on high-growth end-markets like rail and wind suggests a deliberate shift toward higher-value segments.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2026
Equity Capital	75	75
Reserves	2,823	2,839
Borrowings	18	0
Total Liabilities	3,488	3,700
Fixed Assets	588	1,437
Investments	117	61
Total Assets	3,488	3,700

The balance sheet remains strong with zero debt (D/E of 0.00) and growing equity and reserves, supporting a conservative capital allocation strategy. Total assets increased to INR3,700 crores as of Mar 2026 from INR3,488 crores in Mar 2025, driven by operational growth. With no borrowings, the company has flexibility to fund expansion through internal cash flows. However, the negative net cash flow from financing activities in Mar 2026, including dividend payouts and potential share buybacks or settlements, suggests capital is being returned to shareholders despite reinvestment needs, which may constrain long-term leverage capacity.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2026
Operating	+446
Investing	-402
Financing	-279
Net Cash Flow	-236

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	51.0%	51.0%	51.0%	51.0%
FII	7.4%	6.9%	7.0%	7.3%
DII	29.7%	30.2%	30.6%	30.3%
Public	8.9%	8.8%	8.4%	8.3%
# Shareholders	76,566	74,637	71,023	69,808

Institutional investor interest has declined slightly, with FII holding decreasing from 7.38% in Q2FY26 to 7.32% in Q1FY27, while DII holdings remained relatively stable around 30%. Promoter holding remains steady at 51.05%, indicating confidence from the promoter group. The number of shareholders has increased slightly over the quarters, suggesting retail interest is growing. There are no signs of large-scale institutional exit, but the modest reduction in FII holding may reflect profit booking or reallocation amid sector rotation or valuation concerns.

⚖️ Peer Comparison — Bearings

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
SCHAEFFLER	62,521	49.9	28.2%	20.7%	0.00
TIMKEN	24,072	56.5	19.8%	14.6%	0.00
SKFINDUS	14,600	70.3	14.3%	14.1%	0.00
SKFINDIA	7,554	36.1	26.9%	15.8%	0.00
NRBBEARING	4,445	28.8	18.7%	15.6%	0.16
505703	566	—	204.8%	150.2%	0.00
526073	278	75.0	5.3%	3.5%	0.27
BIMETAL	245	21.4	6.6%	5.0%	0.01
505827	140	12.1	20.7%	15.3%	0.00
NIBL	75	—	-103.6%	26.5%	-1.15

🔗 Peer Stock Analyses

SCHAEFFLER SKFINDUS SKFINDIA NRBBEARING 505703

⚠️ Risk Factors

1. Execution risk in the GGB Technology merger, which depends on NCLT approval and integration success. 2. Margin volatility due to macroeconomic pressures or input cost fluctuations, despite recent improvements. 3. Dependence on export demand, particularly in the U.S., which could be impacted by geopolitical or currency headwinds. 4. Management restructuring may lead to execution delays or loss of key talent during transition.

📋 Recent Filings

🧠 Analyst's Read

Timken India is executing a disciplined growth strategy with improving margins and strategic investments in high-potential segments, supported by a healthy balance sheet and shareholder-friendly policies. The merger with GGB Technology and plant scaling are key catalysts to watch, but investor sentiment should monitor execution risks and global demand trends.

Based on filing content and financial data. Not a recommendation.

Read the full analysis

Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.

2 free AI queries per day.

✨ Deep Dive with AI on TIMKEN

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

📡 Get AI alerts when TIMKEN files new disclosures

Track TIMKEN filings, board meetings, and corporate actions. Free email alerts at 5 PM.

Track TIMKEN — Free

Free account · 2 AI queries/day

About · Privacy Policy · Terms of Service · Pricing

Today's Announcements · Screener · Insights · AI Chat

Data provided by CMOTS Internet Technologies Pvt Ltd