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Timken India Limited (TIMKEN)

₹2,889.60 +0.18% last close, 16 Oct

📊 NSE: TIMKEN 🏢 Bearings 📢 Latest filing: 12 Oct 2026 📝 Analysis written: 14 Dec 2025

Q2 FY27 results

📅 Next results: 29 Oct 2026 (board meeting)

Timken India Limited's board meets on 29 Oct 2026 to consider its Q2 FY27 results (July-September 2026).

In its latest reported quarter, Q1 FY27, Timken India's revenue was ₹943 Cr (+16.6% year on year, -13.5% on the previous quarter), and net profit ₹120 Cr (+14.8% year on year); the operating margin was 18.8%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹943	+16.6%	-13.5%
Operating profit	₹178	+24.8%	-26.6%
Net profit	₹120	+14.8%	-24.3%
EPS (₹)	15.91	+14.8%	-24.4%
Operating margin	18.8%	—	—

Full quarterly financials → Results calendar →

TIMKEN delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 68.18% of the TIMKEN shares traded on NSE were taken to delivery, against the stock's own 20-session average of 52.42%. Delivery was unusually high while the price barely moved (+0.18%). It traded 3.1 times its average daily volume.

68.18%Delivery, 16 Oct

52.42%Own 20-session average

3.1×Volume vs its average

₹2,889.60NSE close · +0.18%

Delivery in the last 5 sessions: 44.4% · 57.8% · 64.8% · 65.8% · 68.2%

Delivery across the market →Unusual volume today →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Timken Appoints Pramesh Maheshwari as President - India and Southeast Asia

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 12 Oct 2026, 05:40 PM

Timken India has appointed Pramesh Maheshwari as President - India and Southeast Asia, effective October 12, 2026. Maheshwari brings over 30 years of global industrial experience, having previously led Honeywell Process Solutions and Lifecycle Solutions. Concurrently, Anubhav Khajuria was promoted to General Manager - HR; both have been designated Senior Management Personnel. With Timken reporting TTM revenue of Rs 3,599 Cr and pursuing regional growth across India and ASEAN, the leadership change aims to strengthen operational execution.

Pramesh Maheshwari appointed President - India and Southeast Asia effective October 12, 2026
Maheshwari brings 30+ years of industrial experience, previously serving as President at Honeywell Process Solutions
Anubhav Khajuria promoted to General Manager – HR, designated Senior Management Personnel
Both appointments take effect October 12, 2026, serving until regular retirement age

💡 Monitor upcoming quarterly results and commentary for any strategic adjustments in regional operations or expansion initiatives across India and Southeast Asia.

Timken India Submits Reg 74(5) Dematerialization Compliance Certificate for Q2 FY27

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 07 Oct 2026, 05:50 PM

Timken India Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 September, 2026. The certificate issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited confirms that share certificates received for dematerialisation were processed, verified, and cancelled within prescribed timelines. This is a standard administrative compliance filing with no impact on business operations or financials.

Filing pertains to the quarter ended 30 September, 2026 under Regulation 74(5)
Certificate received from RTA MUFG Intime India Private Limited dated 03-10-2026
Confirmation that securities received for dematerialisation were mutilated, cancelled, and updated within stipulated timelines

💡 No investor action required. Focus on upcoming Q2 FY27 financial results announcements.

Timken India Shareholders Approve Rs 2.50/Share Dividend and All 7 AGM Resolutions

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 19 Aug 2026, 07:11 PM

Timken India Limited has submitted the voting results and Scrutinizer's Report for its 39th Annual General Meeting (AGM) held on August 18, 2026. Shareholders approved all 7 resolutions with overwhelming majorities, including the adoption of FY26 financial statements and a dividend of Rs. 2.50 per equity share. Resolutions approving material related-party transactions with The Timken Company, The Timken Corporation, and Timken Wuxi Bearings Co. Ltd. were also passed with 99.99% public votes in favour after invalidating 3,83,99,992 promoter/KMP votes as per SEBI regulations.

Declared and approved dividend of Rs. 2.50 per equity share of face value Rs. 10 for FY26 with 99.99% approval
Adopted FY26 Audited Financial Statements with 6,44,73,521 votes (99.99%) in favour
Approved re-appointment of Director Mr. Hansal Patel with 6,36,82,457 votes (98.77%) in favour
Approved material related-party transactions across three resolutions (Resolutions 5, 6, and 7) with 2,60,72,992+ votes (99.99%) in favour, with 3,83,99,992 promoter/KMP votes invalidated as required by SEBI Listing Regulations

💡 Track the corporate dividend distribution timeline for the FY26 payout and monitor execution progress of the Bharuch and Jamshedpur plant expansions in upcoming quarterly results.

Timken India Concludes 39th AGM; Puts ₹2.50/Share Dividend & Related-Party Deals to Vote

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 18 Aug 2026, 07:03 PM

Timken India Limited held its 39th Annual General Meeting on August 18, 2026, via video conferencing. Shareholders voted on key resolutions including the adoption of FY26 financial statements and the declaration of a dividend of ₹2.50 per equity share (face value ₹10). Other significant items tabled included approvals for material related-party transactions with The Timken Company, The Timken Corporation, and Timken Wuxi Bearings Co. Ltd. Consolidated voting results from the Scrutinizer will be submitted separately.

39th Annual General Meeting successfully conducted on 18 August 2026.
Shareholders voted on a proposed dividend of ₹2.50 per equity share of ₹10 face value.
Remote e-voting window was conducted from 15 August 2026 to 17 August 2026.
Material related-party transactions put to vote for parent group entities including The Timken Company and Timken Wuxi Bearings.

💡 Track the upcoming disclosure of the scrutinizer report to confirm formal approval of all resolutions, particularly the related-party transaction mandates.

15% Revenue Growth in Q1 FY27; Rail and Exports Lead with •200 Cr Each

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 10 Aug 2026, 06:48 PM

Timken India reported a steady start to FY27 with Q1 revenue of •929 crore, a 15% YoY increase. Profitability remained consistent with PBT growing 15% to •150 crore and EBITDA margins at 19.6%. The Rail and Export segments were the primary drivers, each contributing approximately 22% (•200 crore) to the total revenue. Management highlighted a 100 bps expansion in gross margins to 39.9% despite cost pressures, aided by price hikes in the heavy truck and off-highway segments.

Q1 FY27 Revenue reached •929 crore, representing 15% YoY growth
Rail and Export segments each contributed •200 crore to the quarterly top line
Gross margins expanded by 100 basis points YoY to reach 39.9%
The manufactured vs. traded product mix remains stable at approximately 75/25
Ongoing capex projects, including the Jamshedpur rail expansion (•120 Cr), remain on track

💡 Monitor the ramp-up of the Bharuch plant and the progress of the NCLT approval for the Timken GGB merger. Watch for the impact of U.S. tariffs on export revenues in upcoming quarters as highlighted by management.

Timken India Releases Q1 FY27 Post-Results Conference Call Audio Recording

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Aug 2026, 06:49 PM

Timken India has disclosed the audio recording of its Q1 FY 2026-27 post-results conference call held on August 5, 2026. This routine disclosure provides investors access to management's detailed commentary on the quarter's performance and future outlook. Key areas of interest include the ramp-up of the Bharuch plant, which has a utilization target of 45-50% by the end of FY26, and the progress of the Rs 120 Cr Jamshedpur expansion. The company recently reported a TTM revenue of Rs 3,464 Cr with an operating margin of 18.1%.

Audio recording of the Q1 FY 2026-27 conference call held on August 5, 2026, is now publicly available.
Company maintains a TTM revenue of Rs 3,464 Cr and a net profit of Rs 411 Cr.
Ongoing Rs 120 Cr investment in Jamshedpur facility to expand heavy-duty bearing capacity.
Bharuch plant utilization targeted to reach 45-50% by the end of FY26.
Promoter holding remains stable at 51.05% as of the latest reporting period.

💡 Investors should review the recording for management's commentary on export demand headwinds and the timeline for customer qualifications (PPAP) of new product lines.

Timken India Q1 FY27 Net Profit Rises 10.5% to ₹115.1 Cr; Revenue Up 14.9% YoY

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 04 Aug 2026, 08:33 PM

Timken India reported a steady Q1 FY27 with revenue growing 14.9% YoY to ₹929.1 cr, compared to ₹808.8 cr in the same quarter last year. Net profit increased by 10.5% YoY to ₹115.1 cr, although it saw a sequential decline from the ₹154.8 cr reported in Q4 FY26. The company is progressing with the amalgamation of its wholly-owned subsidiary, Timken GGB Technology, with an appointed date of April 1, 2026. Additionally, an organizational restructuring led to the reclassification of three senior management roles, though the individuals remain employed by the company.

Revenue from operations grew 14.9% YoY to ₹929.1 cr in Q1 FY27.
Net profit after tax increased 10.5% YoY to ₹115.1 cr from ₹104.2 cr.
Earnings Per Share (EPS) for the quarter stood at ₹15.31, up from ₹13.86 YoY.
Total expenses rose to ₹788.9 cr, with cost of materials consumed increasing to ₹351.2 cr.
Amalgamation application for Timken GGB Technology filed with NCLT Bangalore in June 2026.

💡 Monitor the progress of the NCLT approval for the GGB merger and the ramp-up of the Bharuch plant's utilization, which is targeted at 45-50% by FY26-end. Investors should also track export demand, as management previously noted potential headwinds from U.S. tariffs.

Rs 929 Cr Revenue: Timken India Q1 PAT Grows 10.5% YoY; Management Restructuring Announced

🟢 POSITIVE ⭐ 6/10

EARNINGS 📅 04 Aug 2026, 08:09 PM

Timken India reported a steady Q1 FY27 with standalone revenue growing 14.9% YoY to Rs 929.1 cr. Net profit increased 10.5% YoY to Rs 115.1 cr, although it saw a sequential decline from the Rs 154.8 cr reported in the March 2026 quarter. The company also announced an organizational restructuring where three senior executives ceased to be 'Senior Management Persons' but remain in employment. The merger with its subsidiary, Timken GGB Technology, is currently pending with the NCLT.

Revenue from operations rose 14.9% YoY to Rs 929.1 cr from Rs 808.8 cr in the year-ago period.
Net profit for the quarter stood at Rs 115.1 cr, up from Rs 104.2 cr in June 2025.
Earnings Per Share (EPS) improved to Rs 15.31 from Rs 13.86 YoY.
Total expenses increased to Rs 788.9 cr, with cost of materials consumed rising to Rs 351.2 cr.
Application for amalgamation of Timken GGB Technology filed with NCLT Bangalore in June 2026.

💡 Investors should monitor the execution of the GGB merger and the impact of the organizational restructuring on sales and supply chain efficiency. Watch for updates on the Bharuch plant's capacity utilization, which was previously targeted at 45-50% for FY26.

Timken India schedules Q1 FY27 earnings conference call for August 5, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Jul 2026, 05:05 PM

Timken India has scheduled its Q1 FY27 earnings conference call for August 5, 2026, at 4:00 PM IST. The call will be led by Chairman & Managing Director Sanjay Koul and CFO Sujit Kumar Pattanaik to discuss the latest quarterly performance. Investors will likely seek updates on the Bharuch plant utilization, which was targeted to reach 45-50% by the end of FY26, and the impact of U.S. tariffs on export revenues. The company currently maintains a TTM revenue of ₹3,464 Cr with an operating margin of 18.1%.

Conference call scheduled for Wednesday, 5 August 2026, at 16:00 Hrs IST
Management representatives include the Chairman & Managing Director and the CFO
Call hosted by B&K Securities to discuss Q1 FY27 financial performance
Company reported TTM revenue of ₹3,464 Cr and TTM PAT of ₹411 Cr in the preceding period
Bharuch plant utilization target of 45-50% remains a key operational metric for FY26-27

💡 Investors should listen for management commentary regarding the ramp-up of the Bharuch plant and any updates on the ₹120 Cr Jamshedpur expansion for heavy-duty bearings.

NCLT Accepts First Motion for Amalgamation of Timken GGB Technology with Timken India

🟡 NEUTRAL ⭐ 4/10

M&A 📅 24 Jul 2026, 04:53 PM

Timken India has received approval from the National Company Law Tribunal (NCLT) for the first motion application regarding the amalgamation of its wholly-owned subsidiary, Timken GGB Technology Private Limited. This follows the initial board approval and communication dated May 18, 2026. The company is now moving to the second motion application stage. This merger aims to integrate the GGB business, which was acquired in December 2025, into the parent entity to streamline operations.

NCLT accepted the first motion application for the scheme of amalgamation on July 24, 2026
The merger involves Timken GGB Technology Private Limited, a 100% wholly-owned subsidiary
The process follows the initial regulatory communication initiated on May 18, 2026
Timken India reports a TTM revenue of ₹3,464 Cr and a market cap of ₹23,478 Cr
The company is now preparing the second motion application for final NCLT proceedings

💡 Investors should monitor the timeline for the second motion application and final NCLT approval, which will complete the legal integration of the GGB business.

Timken India Schedules 39th AGM for Aug 18; FY26 Capex Reaches 8% of Revenue

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 21 Jul 2026, 11:45 AM

Timken India has issued its 39th Annual General Meeting (AGM) notice for August 18, 2026, following a year of record revenue in FY25-26. The company allocated approximately 8% of its revenue (approx. ‡277 Cr based on TTM revenue) toward capital expenditures, primarily for the new Bharuch facility. Management is targeting a 45-50% utilization rate for the Bharuch plant by the end of FY26. The company maintains a strong financial position with a debt-to-equity ratio of 0.01 and a nearly debt-free balance sheet.

39th Annual General Meeting scheduled for August 18, 2026
Capital expenditure for FY25-26 stood at approximately 8% of total revenue
Bharuch plant utilization targeted to reach 45-50% by the end of FY26
Maintained a debt-free balance sheet with total debt of only ‡15 Cr against a net worth of ‡2,973 Cr
Completed the acquisition of Timken GGB Technology Private Limited in December 2025

💡 Investors should monitor the Bharuch plant's ramp-up progress and customer qualifications (PPAP) for new product lines, as volume leverage is the primary driver for future margin recovery.

4 BIS Licenses Obtained for CRB and TRB Bearings at Bharuch and Jamshedpur Plants

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 13 Jul 2026, 06:41 PM

Timken India has secured four Bureau of Indian Standards (BIS) licenses for its bearing products, marking a significant regulatory milestone. The company is the first in India to obtain BIS licenses for Cylindrical Roller Bearing (CRB) and Tapered Roller Bearing (TRB) rollers across multiple plants. These certifications cover production at the new Bharuch facility and the Jamshedpur plant, facilitating easier procurement for regulated infrastructure and OEM projects. This development supports the company's target to reach 45-50% utilization at the Bharuch plant by the end of FY26.

Awarded 4 BIS licenses for bearing products across two manufacturing facilities
First company in India to obtain CRB and TRB roller licenses across multiple plants
Licenses cover CRB and CRB roller production at the new Bharuch plant
Licenses cover TRB roller production at both Bharuch and Jamshedpur plants
Supports the Bharuch plant utilization target of 45-50% by the end of FY26

💡 Investors should monitor the Bharuch plant's utilization ramp-up and whether these certifications lead to increased order inflows from the Indian Railway sector and other regulated infrastructure projects.

Timken India Submits Routine Share Dematerialization Certificate for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jul 2026, 05:16 PM

Timken India has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. The filing confirms that physical share certificates received for dematerialization were verified, mutilated, and cancelled by the Registrar, MUFG Intime India Private Limited. This is a standard administrative procedure to ensure the depository's name is correctly substituted in the register of members. The announcement has no impact on the company's financial performance or business operations.

Quarterly compliance certificate submitted for the period ended 30 June, 2026
Confirmation received from Registrar MUFG Intime India Private Limited regarding share processing
Physical certificates were mutilated and cancelled after due verification within stipulated timelines
Company maintains a market capitalization of Rs 24,233 Cr as per latest financial context

💡 This is a procedural filing with no impact on fundamentals. Investors should monitor the Bharuch plant utilization, which is targeted to reach 45-50% by the end of FY26.

Rs 2.50 Dividend: Timken India Issues TDS Guidelines for Shareholders

🟡 NEUTRAL ⭐ 3/10

DIVIDEND 📅 07 Jul 2026, 04:27 PM

Timken India has issued a tax deduction at source (TDS) advisory following its recommendation of a Rs 2.50 per share dividend for the financial year ended March 31, 2026. Resident individuals will face a 10% TDS if their total dividend exceeds Rs 10,000, provided a valid PAN is submitted. Non-resident shareholders are subject to a 20% withholding tax, though they may opt for lower Double Tax Avoidance Agreement (DTAA) rates by submitting required documentation by August 8, 2026. This administrative update follows a strong March 2026 quarter where the company reported a PAT of Rs 158 Cr.

Recommended dividend of Rs 2.50 per equity share for the financial year ended March 31, 2026.
Standard TDS rate of 10% for resident individuals with valid PAN, increasing to 20% if PAN is missing or invalid.
Exemption from TDS for resident individuals if the total dividend paid in FY 2026-27 does not exceed Rs 10,000.
Deadline for submitting tax-related documents (Form 121, TRC, etc.) to the RTA is August 8, 2026.
Non-resident withholding tax rate set at 20% plus applicable surcharge and cess, subject to DTAA treaty benefits.

💡 Shareholders should ensure their PAN and bank details are updated with their Depository Participant and submit relevant tax exemption forms by the August 8, 2026 deadline to avoid higher tax withholding.

Timken India Sets July 31, 2026 as Record Date for Dividend Eligibility

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 02 Jul 2026, 04:57 PM

Timken India has announced Friday, July 31, 2026, as the record date for determining shareholder eligibility for a dividend, pending approval at the upcoming Annual General Meeting (AGM). The 39th AGM is scheduled for August 18, 2026, via video conferencing. While the specific dividend amount per share was not disclosed in this filing, the company reported a TTM PAT of ‡411 Cr and maintains a very low debt-to-equity ratio of 0.01, suggesting a stable financial position for payouts.

Record date for dividend payment fixed as Friday, July 31, 2026.
39th Annual General Meeting (AGM) scheduled for Tuesday, August 18, 2026.
Company reported TTM PAT of ‡411 Cr as of the latest financial context.
Current Market Cap stands at ‡26,592 Cr with a P/E of 64.7.

💡 Investors should check the specific dividend amount recommended by the board in previous earnings filings and ensure they hold shares before the ex-dividend date to qualify for the payout.

View All TIMKEN Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total revenue for Q1 FY26 was INR 808.8 Cr, a 3.2% increase YoY. Segment performance: Rail contributed INR 196.5 Cr (24% of total), Mobile INR 156 Cr (19%), Distribution INR 146 Cr (18%), Process INR 142 Cr (18%), and Exports INR 164 Cr (20%). Rail revenue saw a significant sequential decline from the historical high of INR 303 Cr in Q4 FY25.

Geographic Revenue Split

Exports accounted for 20% of total revenue (INR 164 Cr) in Q1 FY26. The remaining 80% is primarily domestic. Export incentives for the quarter were approximately INR 3.6 Cr (36 million).

Profitability Margins

PBT margin for Q1 FY26 was 16.1%, a slight compression from 16.6% in the same period last year. Gross margins dipped by approximately 50 basis points during the quarter due to volume mix and cost fluctuations.

EBITDA Margin

EBITDA margin stood at approximately 18% in Q1 FY26. Management noted this is lower than the historical 20%+ range seen 1-2 years ago, primarily due to lower volume leverage and manufacturing overheads from new capacity.

Capital Expenditure

Planned immediate expansion capex is INR 150+ Cr, comprising INR 120 Cr for the Jamshedpur railway facility (cup and cones capacity) and INR 35 Cr for the first plain bearing line in Bharuch. Maintenance capex remains at 'usual' levels.

⚙️ Operational Drivers

Raw Materials

Steel and specialized alloys (implied for bearing manufacturing) represent the primary input costs. Specific percentage of total cost not disclosed.

Capacity Expansion

Bharuch plant capitalized its first Cylindrical Roller Bearing (CRB) line in late June 2025. Jamshedpur is expanding capacity for heavy-duty bearings (cup and cones) with an INR 120 Cr investment to cater to India, South Africa, and the U.S.

Raw Material Costs

Management noted that cost fluctuations are a constant factor; however, specific YoY cost change percentages were not provided. Procurement is managed through a disciplined supply chain focus.

Manufacturing Efficiency

Bharuch plant utilization is targeted to reach 45-50% by the end of FY26. Management emphasizes that volume leverage is the primary driver for manufacturing efficiency and margin recovery.

📈 Strategic Growth

Expected Growth Rate

7-9%

Growth Strategy

Growth will be driven by capacity expansion in Bharuch (CRB, SRB, and Plain Bearings) and Jamshedpur (Rail). The company is also leveraging parent technology in non-bearing portfolios like lubrication and chains. The acquisition of Timken GGB Technology Private Limited (completed Dec 2025) expands the plain bearing footprint.

Products & Services

Tapered roller bearings, Cylindrical Roller Bearings (CRB), Spherical Roller Bearings (SRB), Plain bearings, and Cup and Cones for railway and industrial applications.

Brand Portfolio

Timken

New Products/Services

Plain bearings production is expected to start in Bharuch by next year. New CRB and SRB lines are currently undergoing customer qualifications (PPAP).

Market Expansion

Targeting growth in the Indian subcontinent and exports to South Africa, Australia, and ASEAN regions.

Strategic Alliances

Acquired 100% equity shares of Timken GGB Technology Private Limited from Timken Europe B.V. and The Timken Company on December 1, 2025.

🌍 External Factors

Industry Trends

The Indian Railway sector is shifting toward Dedicated Freight Corridors (DFC), which allows for more passenger trains and modern rolling stock, increasing demand for high-performance bearings.

Competitive Landscape

The company competes in core industrial and railway segments; competitors are not named, but the market is described as cyclical and volume-leverage dependent.

Competitive Moat

Moat is sustained through parent company technology in lubrication, chains, belts, and linear motion, which are being rolled out in India as 'low-hanging fruit' for growth.

Macro Economic Sensitivity

Management projects overall GDP growth at 6.1%, with Rail and Process segments expected to grow at high single digits (7-9%).

Consumer Behavior

Shift toward higher infrastructure spending by the government and private investment in steel and cement industries is driving demand in the Process segment.

Geopolitical Risks

Geopolitical tensions are noted to have an 'emotional impact' on market investment and industrial spending, particularly regarding trade barriers and tariffs.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, particularly Regulation 30 for material event disclosures.

⚠️ Risk Analysis

Key Uncertainties

Potential U.S. tariffs on bearings and the cyclical nature of the Indian Railway procurement cycles (which can cause 30-35% sequential revenue swings) are key risks.