Timken India Ltd.

TIMKENIndustrials filings

We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.

Earnings calls

12 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 12 documents here); elsewhere sentences render unattributed.

Kind	Date	Period	Served
ANALYST_MEET	20220603	2022-03-31	yes
TRANSCRIPT	20231122	2023-09-30	yes
TRANSCRIPT	20240227	2023-12-31	yes
TRANSCRIPT	20240516	2024-03-31	yes
TRANSCRIPT	20240814	2024-06-30	yes
TRANSCRIPT	20241111	2024-09-30	yes
TRANSCRIPT	20250214	2024-12-31	yes
TRANSCRIPT	20250602	2025-03-31	yes
TRANSCRIPT	20250807	2025-06-30	yes
TRANSCRIPT	20260213	2025-12-31	yes
TRANSCRIPT	20260522	2026-03-31	yes
TRANSCRIPT	20260810	2026-06-30	yes

TIMKEN

files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.

Identity


Statement division	general
Scope served	consolidated
Panels on this page	4

Market

No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.


Last close	3,256.90
52-week range	2909.4 – 3767.1
Return 1M	4.0%
Return 3M	-10.86%
Return 1Y	7.84%
Return 3Y	5.07%
Return 5Y	85.96%
Market capitalisation	not shown — we could not confirm it
Shares outstanding	not shown — we could not confirm it
P/E	not shown — we could not confirm it
P/B	not shown — we could not confirm it
EV/EBITDA	not shown — we could not confirm it

Latest quarter filed — period ending 2026-06-30

In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.


Revenue from operations	943.00
Other income	11.00
Total income	954.00
Cost of materials consumed	359.00
Purchases of stock-in-trade	297.00
Changes in inventories	-90.00
Employee benefit expense	50.00
Finance costs	1.00

Ownership — 2026-06-30, and the change from 2026-03-31

Holder	Per cent	Change
promoter and promoter group	0.51	0.00
institutions foreign	0.07	0.00
institutions domestic	0.30	-0.00
mutual funds	0.27	0.01
public	0.49	0.00

Documents on file

Class	Most recent	On file
ANALYST_MEET	2022-03-31	1
TRANSCRIPT	2026-06-30	11

Financial statements

Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.

Quarterly results, as filed

Line	2025-12-31	2026-03-31	2026-06-30
Revenue from operations	780.00	1,090.00	943.00
Other income	7.00	1.00	11.00
Total income	787.00	1,091.00	954.00
Cost of materials consumed	288.00	228.00	359.00
Purchases of stock-in-trade	322.00	310.00	297.00
Changes in inventories	-110.00	116.00	-90.00
Employee benefit expense	49.00	49.00	50.00
Finance costs	1.00	1.00	1.00
Depreciation and amortisation	29.00	30.00	31.00
Other expenses	130.00	145.00	150.00
Total expenses	709.00	879.00	798.00
Profit before exceptional items and tax	78.00	212.00	156.00
Exceptional items	0.00	0.00	0.00
Profit before tax	78.00	212.00	156.00
Current tax	22.00	50.00	31.00
Deferred tax	2.00	4.00	5.00
Tax expense	24.00	54.00	37.00
Profit for the period	55.00	158.00	120.00
Other comprehensive income	-1.00	2.00	-3.00
Total comprehensive income	54.00	160.00	117.00
Earnings per share, basic	7.25	21.05	15.91
Earnings per share, diluted	7.25	21.05	15.91

Annual results, as filed

Line	2026-03-31
Revenue from operations	3,478.00
Other income	30.00
Total income	3,508.00
Cost of materials consumed	1,036.00
Purchases of stock-in-trade	1,126.00
Changes in inventories	-34.00
Employee benefit expense	187.00
Finance costs	4.00
Depreciation and amortisation	106.00
Other expenses	532.00
Total expenses	2,955.00
Profit before exceptional items and tax	553.00
Exceptional items	0.00
Profit before tax	553.00
Current tax	122.00
Deferred tax	15.00
Tax expense	138.00
Profit for the period	415.00
Other comprehensive income	1.00
Total comprehensive income	416.00
Earnings per share, basic	55.16
Earnings per share, diluted	55.16

Balance sheet, as filed

Line	2026-03-31
Total assets	3,700.00
Non-current assets	1,634.00
Current assets	2,066.00
Property, plant and equipment	1,220.00
Capital work-in-progress	101.00
Goodwill	181.00
Other intangible assets	36.00
Inventories	788.00
Trade receivables	811.00
Cash and cash equivalents	268.00
Total equity and liabilities	3,700.00
Equity	2,915.00
Equity share capital	75.00
Other equity	2,839.00
Total liabilities	786.00
Non-current liabilities	89.00
Current liabilities	697.00
Borrowings, non-current	0.00
Borrowings, current	0.00
Trade payables	610.00

Cash flow, as filed

Line	2026-03-31
Net cash from operating activities	446.00
Net cash from investing activities	-402.00
Net cash from financing activities	-279.00
Purchase of property, plant and equipment	297.00
Net increase in cash	-234.00
con:CFO.BEFORE_TAX	589.00
con:INTEREST_RECEIVED.OPERATING	0.00
con:INTEREST_PAID.OPERATING	0.00
con:DIVIDENDS_RECEIVED.OPERATING	0.00
con:TAX_PAID.OPERATING	143.00
con:CF_OTHER.OPERATING	0.00
con:INVESTMENTS_PURCHASED	1.00
con:INVESTMENTS_SOLD	0.00
con:PPE_DISPOSALS	0.00
con:CF_INVESTING.SUBSIDIARIES_SOLD	0.00
con:CF_INVESTING.SUBSIDIARIES_ACQUIRED	129.00
con:CF_INVESTING.JV_SOLD	0.00
con:CF_INVESTING.JV_ACQUIRED	0.00

Who owns it

The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.

Holder	2023-03-31	2023-06-30	2023-09-30	2023-12-31	2024-03-31	2024-06-30	2024-09-30	2024-12-31	2025-03-31	2025-06-30	2025-09-30	2025-12-31	2026-03-31	2026-06-30
Promoter and promoter group	67.80	57.70	57.70	57.70	57.70	51.05	51.05	51.05	51.05	51.05	0.51	0.51	0.51	0.51
Domestic institutions	12.45	19.11	19.69	22.57	23.64	25.73	24.95	24.94	26.81	27.69	0.30	0.30	0.31	0.30
Mutual funds	—	—	—	—	—	—	—	—	—	23.07	0.24	0.25	0.26	0.27
Insurance companies	0.91	1.24	1.35	1.92	2.07	2.84	2.89	2.86	3.02	3.12	0.04	0.04	0.04	0.03
Foreign institutions	3.95	6.56	6.71	7.13	7.20	12.53	13.13	12.96	10.68	9.44	0.07	0.07	0.07	0.07
Government	—	—	—	—	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00
Public	32.20	42.30	42.30	42.30	42.30	48.95	48.95	48.95	48.95	48.95	0.49	0.49	0.49	0.49
Non-institutional	15.80	16.64	15.90	12.60	11.46	10.68	10.87	11.04	11.46	11.82	0.12	0.12	0.11	0.11
Shares outstanding	75218734	75218734	75218734	75218734	75218734	75218734	75218734	75218734	75218734	75218734	75218734	75218734	75218734	75218734

Related parties

Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.

Counterparty	Relationship	Type	Amount in the period	Transactions
The Timken Corporation	Fellow Subsidiary	Any other transaction, Purchase of fixed assets, Pur	2,198,400,000.00	5
Timken (Wuxi) Bearings Co., Ltd.	Fellow Subsidiary	Any other transaction, Purchase of fixed assets, Pur	1,829,560,000.00	5
The Timken Company, US	Ultimate holding Company	Any other transaction, Purchase of fixed assets, Pur	1,348,570,000.00	7
Timken Engineering and Research - India Private Limited	Fellow Subsidiary	Any other transaction, Purchase of fixed assets, Pur	965,550,000.00	5
Timken Romania SA	Fellow Subsidiary	Any other transaction, Purchase of goods or services	359,250,000.00	3
Yantai Timken Co., Ltd.	Fellow Subsidiary	Purchase of fixed assets, Purchase of goods or servi	340,160,000.00	3
Timken Singapore PTE. Limited	Holding Company	Any other transaction, Dividend paid, Purchase of go	227,390,000.00	5
Timken Do Brazil Comercial Importadora LTDA.	Fellow Subsidiary	Purchase of goods or services, Sale of goods or serv	206,000,000.00	2
Timken South Africa (PTY) Limited	Fellow Subsidiary	Purchase of goods or services, Sale of goods or serv	120,330,000.00	2
Timken (Shanghai) Distribution and Sales Co., Ltd	Fellow Subsidiary	Purchase of goods or services, Sale of goods or serv	108,820,000.00	2
Timken De Mexico, S.A. De C.V.	Fellow Subsidiary	Purchase of goods or services, Sale of goods or serv	85,910,000.00	2
Timken Polska SP z.o.o	Fellow Subsidiary	Any other transaction, Purchase of goods or services	78,290,000.00	2
Australian Timken Proprietary Limited	Fellow Subsidiary	Any other transaction, Purchase of goods or services	66,090,000.00	3
Timken UK Limited	Fellow Subsidiary	Purchase of goods or services, Sale of goods or serv	48,100,000.00	2
Soumitra Hazra, George J Ollapally, Veerappan V, Ajay Sood,	Independent Directors and Key Mana	Any other transaction	40,240,000.00	1

What management said

Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.

Date	Quarter	Who spoke
2026-08-10	Q1FY27	MARKETS LIMITED	Read the call
2026-05-22	Q4FY26		Read the call
2026-02-13	Q3FY26	SECURITIES INDIA PRIVATE LIMITED	Read the call
2025-08-07	Q1FY26	– TIMKEN INDIA LIMITED	Read the call
2025-06-02	Q4FY25	– TIMKEN INDIA LIMITED	Read the call
2025-02-14	Q3FY25	SECURITIES INDIA PRIVATE LIMITED	Read the call
2024-11-11	Q2FY25		Read the call
2024-08-14	Q1FY25	SECURITIES INDIA PRIVATE LIMITED	Read the call
2024-05-16	Q4FY24		Read the call
2024-02-27	Q3FY24	DIRECTOR, TIMKEN INDIA LIMITED	Read the call
2023-11-22	Q2FY24	SECURITIES INDIA PRIVATE LIMITED	Read the call
2022-06-03	Q4FY22	ADVISORS INDIA PRIVATE LIMITE, SARAF, SPARK	Read the call

What they said about it, quarter by quarter

Topic	Q2FY25	Q3FY24	Q3FY25	Q3FY26	Q4FY22	Q4FY24	Q4FY25	Q4FY26
Capex	Sir, first question, sir, with the new plant commissioning possibly happening in sometime in FY '25.	So that gives a good capacity utilization for rail assets for us here in Jamshedpur which means that you can leverage volume further and as you guys k…	Obviously, we are setting up this new plant, INR600 crore capex, but if you could kind of give us a sense on how the parent is now looking at new inve…	The third is the new plant, Bharuch ramp-up cost.	My last question is on the railways side, you mentioned 90,000 wagons into eight, and I mean, it seems like a big opportunity, but historically we've …	And also currently, we are working very hard on our new plant, which is coming up as per plan.	One is obviously put more capex in, which for rail we are doing.	So for the full year, it was almost INR80 crores revenue coming out of the new plant.
Capital allocation	—	Just wanted to understand, does any of the acquisition impact our business anyway in India?	—	Then if you're taking other income as part of your PBT calculation, so that has got another impact of 120 basis points, given that we did a significan…	—	—	—	I'll only ask that your dividend last time you paid a good dividend last time INR36 this year.
Costs	—	—	—	—	So, that has been -- though, as you know better than myself, that there is always the automotive customers are always very, very finicky about any cha…	—	—	So -- but otherwise, raw material also, there is indirect a little bit of impact because for making grinding wheels in India, something is coming from…
Debt and cash	—	—	—	—	—	—	—	—
Demand	Demand was largely driven by the domestic, so -- which was the plus and in exports were minus.	So, could you give us some more color how much is more of an inventory correction, how much is an actual end market demand weakness and how should we …	And so that was the highlight of it driven by a moderate domestic demand, a little bit of intercompany uptick, which is the export part of it.	Could you help us understand how demand from the commercial vehicle segment is shaping up, both OEM and aftermarket.	So we've been running pretty much a good order book in both the clients.	And if you can throw some colour on the Class 8 demand as well and how you are seeing that shaping up?	So just wanted to understand how is the order book right now?	And overall the sentiment is -- domestic consumption is not bad despite the inflationary market situation, inflation and cost pressures are there, but…
Guidance	Sir, how is the outlook for this railway segment?	—	And what is the outlook for the FY '26 in railway segment?	So in both the segments you talked about, we have seen a steady growth and we expect probably the momentum to continue, given that it is the last quar…	—	—	—	I think you're investing INR120 crores there and what is the total overall capex guidance for '27?
Margin	Our PBT margin was 16.4% compared to 18% in the prior year period, and last quarter was 16.6.	So, intercompany sales actually intercompany is what we do the exports etc., that contracted by 6.6% compared to the previous quarter and this was the…	A resilient margin performance in the quarter despite a very unfavourable product mix.	So as the new capacities and stabilization and utilization improves for our new manufacturing plant, ramp-up costs are expected to moderate, so which …	So next is that -- see, the overall, if you see our mix in this has been, margin wise might be little bit skewed towards this, but overall the mix is …	While operating leverage would have played its part, but at least in terms of mix, if you look at it, railway has done better and export has not -- ha…	And margin also improved almost 70 basis points Y-o-Y.	And could there be some margin impact maybe in the next 1 or 2 quarters till all of that gets passed on.
People	On the steel side, I would say that we currently, definitely are not using steel production in India to capacity utilization.	Okay, and also we understand that globally there is a lot of consolidation, headcount reductions in some of the facilities being consolidation.	Just a follow-up on CRB, SRB where you talked about reaching a 50% utilization levels in the first year.	So could you kind of give an update on the SRB line commissioning and also our targets in terms of revenues from this plant, say, this year and probab…	And lastly, sir, on your capacity utilization and any plan for increasing capacity, because now even ABC's contributing significantly to export.	And just one last one on our utilization levels, both in Jamshedpur and in Bharuch.	What is the -- what kind of utilization levels have we reached in this quarter?	Our target was to exit at 40%, 45% utilization levels.
Pricing	So there, I see it not getting a lot of traction just on pricing, but we are trying to improve our mix, trying to further optimize wherever we can, as…	Can you break it down in terms of volume, degrowth or growth and then pricing?	—	And a related question is how are you seeing the pricing?	Sure, sure, And just one really quick, one last one from my side is any change you've seen in the transfer pricing, between Timken India and the curre…	So, we have been working very hard on price realization.	—	So I'm just trying to understand in terms of price hike, how much have you already tried to kind of take?
Revenue growth	But in the bygone quarter, it was not a great sales or revenue growth there.	—	Normally, the top line will be around 3x of the capex, that is INR1,800 crores.	Firstly, wanted to understand largely, our top line was strong this quarter.	So my question is related to the first is on your top line.	But that growth of 10, 20, 30, 40, there's a big difference between the two numbers, correct?	—	So, on the top line, we want to be more than the market growth.