Timken India Ltd

₹ 3,531 0.75%
05 Dec 4:01 p.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 26,540 Cr.
  • Current Price 3,531
  • High / Low 3,761 / 1,713
  • Stock P/E 65.2
  • Book Value 248
  • Dividend Yield 0.04 %
  • ROCE 28.7 %
  • ROE 21.8 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 27.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 54.7%

Cons

  • Stock is trading at 14.3 times its book value

* 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: Auto Ancillaries Industry: Bearings

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Quarterly Results

Figures in Rs. Crores

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
373 405 160 392 383 475 468 558 510 667 699 695
289 312 146 308 316 388 375 434 396 488 528 563
Operating Profit 84 93 14 84 67 87 93 124 114 180 172 132
OPM % 23% 23% 9% 21% 18% 18% 20% 22% 22% 27% 25% 19%
5 8 8 2 2 8 3 4 3 5 11 22
Interest 2 0 0 0 0 1 0 0 0 1 0 0
Depreciation 18 19 18 19 19 20 20 20 22 22 22 22
Profit before tax 69 82 4 67 50 75 75 107 95 161 160 131
Tax % -22% 26% 13% 25% 25% 29% 25% 26% 27% 25% 26% 26%
Net Profit 85 61 3 50 37 53 57 79 70 121 118 98
EPS in Rs 11.24 8.14 0.42 6.64 4.95 7.05 7.54 10.53 9.28 16.13 15.70 12.98
Raw PDF

Profit & Loss

Figures in Rs. Crores

Dec 2010 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
462 828 686 719 926 1,042 1,056 1,233 1,664 1,617 1,411 2,203 2,572
397 727 613 646 792 880 898 1,070 1,375 1,254 1,159 1,692 1,974
Operating Profit 65 100 73 73 134 162 158 163 289 363 252 511 598
OPM % 14% 12% 11% 10% 14% 16% 15% 13% 17% 22% 18% 23% 23%
19 26 5 10 6 3 10 21 16 23 20 14 40
Interest 1 1 1 1 1 1 1 1 2 3 1 2 2
Depreciation 11 15 14 16 17 22 29 43 79 77 75 84 88
Profit before tax 71 111 64 66 122 142 138 140 224 306 195 438 547
Tax % 28% 27% 31% 32% 34% 35% 30% 34% 34% 20% 27% 25%
Net Profit 51 81 44 45 81 92 97 92 149 246 143 327 407
EPS in Rs 8.01 12.66 6.94 6.58 11.87 13.50 14.29 13.53 19.76 32.72 19.04 43.49 54.09
Dividend Payout % 0% 158% 29% 99% 25% 7% 7% 7% 5% 153% 8% 3%
Compounded Sales Growth
10 Years: 10%
5 Years: 16%
3 Years: 10%
TTM: 37%
Compounded Profit Growth
10 Years: 16%
5 Years: 28%
3 Years: 30%
TTM: 80%
Stock Price CAGR
10 Years: 34%
5 Years: 32%
3 Years: 60%
1 Year: 75%
Return on Equity
10 Years: 16%
5 Years: 16%
3 Years: 16%
Last Year: 22%

Balance Sheet

Figures in Rs. Crores

Dec 2010 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
64 64 64 68 68 68 68 68 75 75 75 75 75
Reserves 317 249 278 314 370 462 550 634 1,266 1,501 1,268 1,582 1,787
0 15 0 3 3 4 8 16 23 24 35 32 22
108 131 122 114 144 168 251 261 411 380 510 505 516
Total Liabilities 489 459 463 500 585 702 877 979 1,775 1,980 1,888 2,194 2,400
58 80 79 97 107 137 231 251 795 748 818 860 854
CWIP 2 10 26 26 27 21 58 54 64 157 97 50 45
Investments 210 66 32 23 17 38 91 55 176 13 0 99 193
218 304 326 354 435 506 498 619 741 1,063 973 1,185 1,307
Total Assets 489 459 463 500 585 702 877 979 1,775 1,980 1,888 2,194 2,400

Cash Flows

Figures in Rs. Crores

Dec 2010 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
38 34 13 44 42 101 164 39 249 348 189 33
29 -50 -17 -30 -23 -67 -126 -64 -106 -104 -67 -75
-0 -132 -16 -14 -26 1 -5 -2 -23 -13 -379 -15
Net Cash Flow 67 -148 -20 -0 -7 36 34 -27 119 230 -257 -57

Ratios

Figures in Rs. Crores

Dec 2010 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 65 48 69 75 69 68 66 66 66 66 96 89
Inventory Days 163 113 123 112 110 108 111 121 125 124 171 171
Days Payable 122 75 58 60 57 65 92 97 92 92 156 100
Cash Conversion Cycle 106 87 134 128 122 110 85 90 99 98 112 160
Working Capital Days 81 68 98 106 99 93 73 101 85 78 95 122
ROCE % 20% 30% 19% 19% 30% 30% 24% 21% 22% 21% 13% 29%

Shareholding Pattern

Numbers in percentages

8 recently
Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
67.80 67.80 67.80 67.80 67.80 67.80 67.80 67.80 67.80 67.80 67.80 67.80
2.33 2.20 2.10 2.31 3.13 2.93 2.80 2.80 2.66 2.90 3.64 3.90
9.04 9.57 10.70 10.76 10.20 11.42 12.73 13.57 13.86 13.01 12.63 12.13
20.83 20.43 19.40 19.13 18.86 17.85 16.67 15.82 15.68 16.29 15.93 16.16

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

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

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