Timken India Limited (TIMKEN) Financial Results — Revenue ₹31,478 Cr

Revenue: ₹31,478 CrNet Profit: ₹5,304 Cr

📢 Key Event
Approved merger of Timken GGB with Timken India and announced FY27 capex guidance of 8-10% of revenue targeting asset turns of ~2x.

🔄 What Changed
19.3% PBT margin in Q4 FY26; 66% YoY export growth; 40% QoQ export growth; INR80 crores new plant revenue target; dividend reduced to INR2.5 per share; merger approved.

🔮 What's Next
FY27 capex to remain at 8-10% of revenue with target asset turns of ~2x; new Bharuch plant to reach INR80 crores annual revenue; rail bearing production ramp-up by December 2026 targeting 70% utilization by July 2027; export growth expected to continue; dividend may increase if cash is not needed for growth.

💡 Investor Takeaway
The company is prioritizing reinvestment over dividends to fuel growth, with margin expansion and export momentum supporting long-term value creation.

Timken India reported record Q4 FY26 revenue of ₹1,073.1 crores, up 14.2% YoY, with PBT margin at 19.3% and full-year revenue of ₹31,478 million. Export revenue surged 66% YoY, driven by North America, while new Bharuch plant capacity is targeted at INR80 crores annually. The merger of Timken GGB with Timken India was approved, and capex remains at 8-10% of revenue for FY27, targeting asset turns of ~2x. Dividend was reduced to INR2.5 per share from INR36, with future increases contingent on growth reinvestment.

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