This article first appeared on GuruFocus .
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Quarterly Revenue:Rs 10,731 million, reflecting 14.2% growth over the same period last year.
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Quarterly PBT:Rs 2,074 million with a PBT margin of 19.3%.
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Consolidated Quarterly Revenue:Rs 10,898 million.
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Consolidated Annual Revenue:Rs 34,780 million for the year ended March 31, 2026.
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Annual Standalone Revenue:Rs 31,478 million, representing an 8.6% growth over last year.
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Annual PBT:Rs 5,304 million, a 3% increase over last year with a PBT margin of 15.5%.
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EBITDA Margin:18.7%.
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Cash Generated from Operations:Rs 4,374 million.
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Capital Expenditure:Rs 2,972 million, which was 8.7% of the revenue.
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Release Date: May 19, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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Timken India Ltd ( BOM:522113 ) achieved a milestone by crossing Rs 1,000 crore in quarterly revenue for the first time.
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The company reported a 14.2% revenue growth over the same period last year, driven by strong demand in the core industrial segment.
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The merger of Timken GGB with Timken India Ltd is expected to drive operational synergies and reduce costs.
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Investment in renewable energy initiatives across all plants is expected to support long-term power security and cost optimization.
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The new Baruch plant has been fully capitalized and is progressively ramping up, contributing to revenue generation.
Negative Points
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Significant cost pressures due to raw material inflation and currency impacts are affecting the company's margins.
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There is a lag in passing on cost increases to customers, with only 10% of price hikes currently implemented.
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Geopolitical uncertainties and trade tensions are contributing to a challenging market outlook.
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The rail segment experienced slow and steady growth, with some delays from the railway board and wagon builders.
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The company faces challenges in ramping up the new Baruch plant due to PPAP processes and approvals.
Q & A Highlights
Q: How is Timken India managing raw material inflation and price hikes? A: Sanjay Koul, Executive Chairman and Managing Director, explained that cost increases are being observed in steel and other inputs. The company has started passing on these costs, currently at 10%, with plans to achieve full pass-through over the next two quarters. The process began in mid-April, and efforts are underway to manage both cost increases and price adjustments.
Q: What is the outlook for the domestic rail and commercial vehicle (CV) markets, and how are exports performing? A: Sanjay Koul noted that exports, particularly to North America, have shown significant growth, with a 40% quarter-over-quarter increase. The domestic rail market is expected to grow slowly and steadily, while the CV market remains robust. Overall, domestic demand is stable despite inflationary pressures.
Q: What is the current status and future outlook for the Baruch plant's utilization and market strategy? A: The Baruch plant's lines are fully capitalized, with smaller lines running at full capacity. The plant generated Rs 80 crore in revenue for the year, and utilization is expected to exceed 70% by July-August. The company is focusing on expanding its market share in segments like SRB and CRBs, targeting industries such as cement, steel, and material handling.
Q: Can you provide a segmental breakup for Q4 and FY26, and what is the CapEx guidance for FY27? A: Sanjay Koul provided a detailed segmental breakup, with rail contributing 26% and mobile others 19% of Q4 revenue. The CapEx for Jamshedpur is on track for completion by November 2026, with an asset turnover target of two. The overall CapEx guidance for FY27 is not specified, but it is expected to be in line with historical spending levels.
Q: How is the industrial bearings business performing, and which geographies are driving export growth? A: Sanjay Koul stated that the industrial bearings business is stable, with North America driving export growth. The order book is healthy, and demand is not a concern. The focus is on managing cost escalation, ramping up the Baruch plant, and exploring further expansion projects.
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
