Timken India Ltd

Timken India is primarily into the manufacture and distribution of tapered roller bearings, components and accessories for the automotive sector and the railway industry. It also provides maintenance contract services and refurbishment services.

Pros:
Company is virtually debt free.
Cons:
Promoter's stake has decreased

Peer Comparison Sector: Auto Ancillaries // Industry: Bearings

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Quarterly Results Figures in Rs. Crores

Sep 2016 Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019
283 231 260 300 310 279 345 418 414 385 448 438
235 207 223 258 256 258 299 356 343 329 347 343
Operating Profit 48 24 38 42 54 21 46 62 70 55 101 95
OPM % 17% 10% 14% 14% 17% 7% 13% 15% 17% 14% 23% 22%
Other Income 2 2 4 2 14 3 2 2 3 3 7 4
Interest 0 0 0 0 0 0 0 1 1 0 0 0
Depreciation 7 7 8 11 12 9 11 17 20 20 22 21
Profit before tax 42 19 34 33 57 14 37 47 53 38 86 78
Tax % 29% 29% 24% 34% 34% 33% 35% 35% 35% 30% 33% 35%
Net Profit 30 13 26 22 37 9 24 30 35 26 57 50
EPS in Rs 4.39 1.95 3.78 3.22 5.48 1.35 3.48 4.05 4.59 3.51 7.61 6.71
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
337 404 316 462 828 686 719 926 1,042 1,056 1,233 1,664 1,684
280 338 275 397 721 613 646 792 880 898 1,070 1,375 1,362
Operating Profit 57 66 41 64 106 73 73 134 162 158 163 289 322
OPM % 17% 16% 13% 14% 13% 11% 10% 14% 16% 15% 13% 17% 19%
Other Income 10 23 14 19 20 5 10 6 3 10 21 16 18
Interest 1 1 0 1 1 1 1 1 1 1 1 2 1
Depreciation 10 10 10 11 15 14 16 17 22 29 43 79 83
Profit before tax 56 78 45 71 111 64 66 122 142 138 140 224 255
Tax % 33% 32% 28% 28% 27% 31% 32% 34% 35% 30% 34% 34%
Net Profit 37 53 33 51 81 44 45 81 92 97 92 149 169
EPS in Rs 5.87 8.32 5.11 8.01 7.53 6.58 5.48 11.25 13.50 14.30 13.53 19.76 22.42
Dividend Payout % 0% 0% 0% 0% 158% 29% 99% 25% 7% 7% 7% 5%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:15.21%
5 Years:18.28%
3 Years:16.88%
TTM:24.59%
Compounded Profit Growth
10 Years:11.33%
5 Years:26.68%
3 Years:16.69%
TTM:67.74%
Stock Price CAGR
10 Years:19.76%
5 Years:15.45%
3 Years:11.14%
1 Year:44.18%
Return on Equity
10 Years:15.60%
5 Years:16.25%
3 Years:14.97%
Last Year:14.55%

Balance Sheet Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
64 64 64 64 64 64 68 68 68 68 68 75
Reserves 180 233 266 317 249 278 314 370 462 550 634 1,266
Borrowings 0 0 0 0 15 0 3 3 4 8 16 23
61 87 62 110 133 123 117 147 173 258 268 427
Total Liabilities 305 384 391 491 461 465 502 588 707 884 987 1,791
53 53 57 58 80 79 97 107 137 231 251 795
CWIP 10 17 11 2 10 26 26 27 21 58 54 64
Investments 82 113 169 210 66 32 23 17 38 91 55 176
160 200 155 220 305 328 357 438 510 505 626 757
Total Assets 305 384 391 491 461 465 502 588 707 884 987 1,791

Cash Flows Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
32 37 58 38 34 13 44 42 101 164 39 249
-30 -39 -56 29 -50 -17 -30 -23 -67 -126 -64 -106
-2 -1 -0 -0 -132 -16 -14 -26 1 -5 -2 -23
Net Cash Flow -0 -3 2 67 -148 -20 -0 -7 36 34 -27 119

Ratios Figures in Rs. Crores

Dec 2007 Dec 2008 Dec 2009 Dec 2010 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 24% 28% 14% 20% 30% 19% 19% 30% 30% 24% 21% 22%
Debtor Days 72 71 59 65 48 69 75 69 68 66 66 66
Inventory Turnover 5.94 5.50 4.17 5.35 6.55 4.77 5.19 6.09 5.90 5.65 5.69 5.92