Timken India Ltd

Timken India Ltd

₹ 4,603 -2.32%
19 Jun 10:32 a.m.
About

Timken India Ltd is engaged in the manufacturing, distribution and sale of anti-friction bearings, components, accessories and mechanical power transmission products for the customer base across different sectors. It also provided maintenance contracts and refurbishment services and industrial services.
It was incorporated in 1987 and is a part of the global Timken Group.[1][2]

Key Points

History
Timken India Limited was incorporated in 1987 as Tata Timken Limited, a JV between Tata Iron and Steel Company and The Timken Company. It commenced commercial production at its Jamshedpur plant in March 1992. TISCO and TIMKEN each held a 40% equity stake in the company and the public held the rest.
In 1999, Timken acquired from Tata Steel its 40% stake in Tata Timken Limited. The name of the Company was changed to Timken India Limited on July 2, 1999. [1]

  • Market Cap 34,624 Cr.
  • Current Price 4,603
  • High / Low 4,818 / 2,490
  • Stock P/E 88.3
  • Book Value 321
  • Dividend Yield 0.03 %
  • ROCE 23.4 %
  • ROE 17.6 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 21.4% CAGR over last 5 years

Cons

  • Stock is trading at 14.7 times its book value
  • Promoter holding has decreased over last 3 years: -10.1%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Bearings Industry: Bearings

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Quarterly Results

Figures in Rs. Crores

Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
468 558 510 667 699 695 609 803 718 682 612 898
375 434 396 488 528 563 506 650 582 546 510 699
Operating Profit 93 124 114 180 172 132 104 153 136 136 102 199
OPM % 20% 22% 22% 27% 25% 19% 17% 19% 19% 20% 17% 22%
3 4 3 5 11 22 14 7 9 10 11 11
Interest 0 0 0 1 0 0 1 1 1 1 1 1
Depreciation 20 20 22 22 22 22 22 21 21 21 21 22
Profit before tax 75 107 95 161 160 131 95 137 123 124 91 187
Tax % 25% 26% 27% 25% 26% 26% 26% 24% 27% 25% 26% 24%
57 79 70 121 118 98 71 105 90 93 68 141
EPS in Rs 7.54 10.53 9.28 16.13 15.69 12.98 9.38 13.89 11.98 12.37 8.98 18.80
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
686 719 926 1,042 1,056 1,233 1,664 1,617 1,411 2,203 2,807 2,910
613 646 792 880 898 1,070 1,375 1,254 1,159 1,692 2,246 2,337
Operating Profit 73 73 134 162 158 163 289 363 252 511 560 572
OPM % 11% 10% 14% 16% 15% 13% 17% 22% 18% 23% 20% 20%
5 10 6 3 10 21 16 23 20 14 53 41
Interest 1 1 1 1 1 1 2 3 1 2 3 4
Depreciation 14 16 17 22 29 43 79 77 75 84 87 85
Profit before tax 64 66 122 142 138 140 224 306 195 438 524 524
Tax % 31% 32% 34% 35% 30% 34% 34% 20% 27% 25% 25% 25%
44 45 81 92 97 92 149 246 143 327 391 392
EPS in Rs 6.94 6.58 11.87 13.50 14.29 13.53 19.76 32.72 19.04 43.49 51.95 52.13
Dividend Payout % 29% 99% 25% 7% 7% 7% 5% 153% 8% 3% 3% 5%
Compounded Sales Growth
10 Years: 15%
5 Years: 12%
3 Years: 27%
TTM: 4%
Compounded Profit Growth
10 Years: 24%
5 Years: 21%
3 Years: 40%
TTM: 0%
Stock Price CAGR
10 Years: 34%
5 Years: 47%
3 Years: 50%
1 Year: 45%
Return on Equity
10 Years: 17%
5 Years: 18%
3 Years: 20%
Last Year: 18%

Balance Sheet

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 64 68 68 68 68 68 75 75 75 75 75 75
Reserves 278 314 370 462 550 634 1,266 1,501 1,268 1,582 1,962 2,342
0 3 3 4 8 16 23 24 35 32 31 25
122 114 144 168 251 261 411 380 510 505 489 545
Total Liabilities 463 500 585 702 877 979 1,775 1,980 1,888 2,194 2,557 2,988
79 97 107 137 231 251 795 748 818 860 843 853
CWIP 26 26 27 21 58 54 64 157 97 50 53 104
Investments 32 23 17 38 91 55 176 13 0 99 236 161
326 354 435 506 498 619 741 1,063 973 1,185 1,424 1,870
Total Assets 463 500 585 702 877 979 1,775 1,980 1,888 2,194 2,557 2,988

Cash Flows

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
13 44 42 101 164 39 249 348 189 33 341 340
-17 -30 -23 -67 -126 -64 -106 -104 -67 -75 -45 -228
-16 -14 -26 1 -5 -2 -23 -13 -379 -15 -15 -17
Net Cash Flow -20 -0 -7 36 34 -27 119 230 -257 -57 281 94

Ratios

Figures in Rs. Crores

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 69 75 69 68 66 66 66 66 96 89 75 82
Inventory Days 123 112 110 108 111 121 125 124 171 171 125 142
Days Payable 58 60 57 65 92 97 92 92 156 100 76 82
Cash Conversion Cycle 134 128 122 110 85 90 99 98 112 160 124 142
Working Capital Days 98 106 99 93 73 101 85 78 95 122 106 132
ROCE % 19% 19% 30% 30% 24% 21% 22% 21% 13% 29% 28%

Shareholding Pattern

Numbers in percentages

20 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
67.80% 67.80% 67.80% 67.80% 67.80% 67.80% 67.80% 67.80% 57.70% 57.70% 57.70% 57.70%
2.80% 2.80% 2.66% 2.90% 3.64% 3.90% 4.30% 3.95% 6.56% 6.71% 7.13% 7.20%
12.73% 13.57% 13.86% 13.01% 12.63% 12.13% 12.14% 12.44% 19.11% 19.68% 22.57% 23.62%
16.67% 15.82% 15.68% 16.29% 15.93% 16.16% 15.75% 15.79% 16.64% 15.91% 12.59% 11.45%
No. of Shareholders 49,36650,19153,61955,48059,56467,50968,78566,65274,33973,42970,04062,838

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls