Timken India Ltd
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]
- Market Cap ₹ 23,137 Cr.
- Current Price ₹ 3,074
- High / Low ₹ 3,630 / 2,659
- Stock P/E 64.6
- Book Value ₹ 294
- Dividend Yield 0.05 %
- ROCE 28.0 %
- ROE 21.1 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- Stock is trading at 10.5 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.
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
828 | 686 | 719 | 926 | 1,042 | 1,056 | 1,233 | 1,664 | 1,617 | 1,411 | 2,203 | 2,807 | 2,812 | |
727 | 613 | 646 | 792 | 880 | 898 | 1,070 | 1,375 | 1,254 | 1,159 | 1,692 | 2,246 | 2,284 | |
Operating Profit | 100 | 73 | 73 | 134 | 162 | 158 | 163 | 289 | 363 | 252 | 511 | 560 | 528 |
OPM % | 12% | 11% | 10% | 14% | 16% | 15% | 13% | 17% | 22% | 18% | 23% | 20% | 19% |
26 | 5 | 10 | 6 | 3 | 10 | 21 | 16 | 23 | 20 | 14 | 53 | 40 | |
Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 3 | 1 | 2 | 3 | 4 |
Depreciation | 15 | 14 | 16 | 17 | 22 | 29 | 43 | 79 | 77 | 75 | 84 | 87 | 86 |
Profit before tax | 111 | 64 | 66 | 122 | 142 | 138 | 140 | 224 | 306 | 195 | 438 | 524 | 479 |
Tax % | 27% | 31% | 32% | 34% | 35% | 30% | 34% | 34% | 20% | 27% | 25% | 25% | |
81 | 44 | 45 | 81 | 92 | 97 | 92 | 149 | 246 | 143 | 327 | 391 | 358 | |
EPS in Rs | 12.66 | 6.94 | 6.58 | 11.87 | 13.50 | 14.29 | 13.53 | 19.76 | 32.72 | 19.04 | 43.49 | 51.95 | 47.62 |
Dividend Payout % | 158% | 29% | 99% | 25% | 7% | 7% | 7% | 5% | 153% | 8% | 3% | 3% |
Compounded Sales Growth | |
---|---|
10 Years: | 15% |
5 Years: | 18% |
3 Years: | 20% |
TTM: | 9% |
Compounded Profit Growth | |
---|---|
10 Years: | 25% |
5 Years: | 34% |
3 Years: | 17% |
TTM: | -12% |
Stock Price CAGR | |
---|---|
10 Years: | 34% |
5 Years: | 44% |
3 Years: | 40% |
1 Year: | -13% |
Return on Equity | |
---|---|
10 Years: | 17% |
5 Years: | 17% |
3 Years: | 18% |
Last Year: | 21% |
Balance Sheet
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 64 | 64 | 68 | 68 | 68 | 68 | 68 | 75 | 75 | 75 | 75 | 75 | 75 |
Reserves | 249 | 278 | 314 | 370 | 462 | 550 | 634 | 1,266 | 1,501 | 1,268 | 1,582 | 1,962 | 2,132 |
15 | 0 | 3 | 3 | 4 | 8 | 16 | 23 | 24 | 35 | 32 | 31 | 12 | |
131 | 122 | 114 | 144 | 168 | 251 | 261 | 411 | 380 | 510 | 505 | 489 | 482 | |
Total Liabilities | 459 | 463 | 500 | 585 | 702 | 877 | 979 | 1,775 | 1,980 | 1,888 | 2,194 | 2,557 | 2,701 |
80 | 79 | 97 | 107 | 137 | 231 | 251 | 795 | 748 | 818 | 860 | 843 | 834 | |
CWIP | 10 | 26 | 26 | 27 | 21 | 58 | 54 | 64 | 157 | 97 | 50 | 53 | 73 |
Investments | 66 | 32 | 23 | 17 | 38 | 91 | 55 | 176 | 13 | 0 | 99 | 236 | 243 |
304 | 326 | 354 | 435 | 506 | 498 | 619 | 741 | 1,063 | 973 | 1,185 | 1,424 | 1,552 | |
Total Assets | 459 | 463 | 500 | 585 | 702 | 877 | 979 | 1,775 | 1,980 | 1,888 | 2,194 | 2,557 | 2,701 |
Cash Flows
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
34 | 13 | 44 | 42 | 101 | 164 | 39 | 249 | 348 | 189 | 33 | 341 | |
-50 | -17 | -30 | -23 | -67 | -126 | -64 | -106 | -104 | -67 | -75 | -45 | |
-132 | -16 | -14 | -26 | 1 | -5 | -2 | -23 | -13 | -379 | -15 | -15 | |
Net Cash Flow | -148 | -20 | -0 | -7 | 36 | 34 | -27 | 119 | 230 | -257 | -57 | 281 |
Ratios
Figures in Rs. Crores
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 48 | 69 | 75 | 69 | 68 | 66 | 66 | 66 | 66 | 96 | 89 | 75 |
Inventory Days | 113 | 123 | 112 | 110 | 108 | 111 | 121 | 125 | 124 | 171 | 171 | 125 |
Days Payable | 75 | 58 | 60 | 57 | 65 | 92 | 97 | 92 | 92 | 156 | 100 | 76 |
Cash Conversion Cycle | 87 | 134 | 128 | 122 | 110 | 85 | 90 | 99 | 98 | 112 | 160 | 124 |
Working Capital Days | 68 | 98 | 106 | 99 | 93 | 73 | 101 | 85 | 78 | 95 | 122 | 106 |
ROCE % | 30% | 19% | 19% | 30% | 30% | 24% | 21% | 22% | 21% | 13% | 29% | 28% |
Documents
Announcements
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 1h
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 28 Nov
-
Announcement under Regulation 30 (LODR)-Earnings Call Transcript
22 Nov - Transcript of Conference Call - held on 17 November, 2023. A copy of the same is also available on the website of the Company.
- Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate 21 Nov
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
17 Nov - Audio recording of Conference Call held on 17 November, 2023, which is available at below link: https://www.timken.com/en-in/investors/statutory-compliances/#analyst
Annual reports
-
Financial Year 2023
from bse
-
Financial Year 2022
from bse
-
Financial Year 2021
from bse
-
Financial Year 2020
from bse
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Financial Year 2019
from bse
-
Financial Year 2018
from bse
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Financial Year 2017
from bse
-
Financial Year 2016
from bse
-
Financial Year 2015
from bse
-
Financial Year 2014
from bse
-
Financial Year 2013
from nse
-
Financial Year 2013
from bse
-
Financial Year 2012
from bse
-
Financial Year 2012
from nse
-
Financial Year 2011
from bse
Concalls
-
Nov 2023TranscriptPPT
-
Aug 2023TranscriptPPT
-
Jun 2023Transcript PPT
-
May 2023TranscriptPPT
-
Dec 2022TranscriptPPT
-
Jun 2022TranscriptPPT
-
Jun 2016TranscriptNotesPPT
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]