TIMKEN
Timken India share price & financials
- Price
- ₹3,689.4
- Market cap
- ₹24.1k Cr
- Sector
- Capital Goods
- Calls analysed
- 7
Timken India Limited Q1 FY27
What went well
- Stand-alone revenue for Q1 FY27 was ₹929 crores, marking a 15% YoY growth, driven by resilient demand in core segments and strong execution in both export and domestic markets.
- PBT for the quarter stood at ₹150 crores, a 15% increase from ₹130 crores in the same quarter last year, with PBT margin maintained at 16.2%.
- EBITDA margin for Q1 FY27 was 19.6%, indicating robust operational performance.
What to watch
- Government buying for the railway sector remains slow, with projects deferred due to fund diversion to other sectors like infra and defence.
- Ongoing cost pressures from steel price increases (totaling ₹5,000 per ton already in the system) and volatile base oil prices, though management expects no further major escalation from today.
What Timken India Limited does
Timken India Limited, established in 1987 as a joint venture with Tata Steel and commercially producing since 1992, is one of India's leading manufacturers of tapered roller bearings and their components, and a subsidiary of the US-based Timken Company. It designs and manufactures anti-friction bearings and related power-transmission components used in auto, rail, off-highway, industrial, mining, cement, oil & gas, wind, and heavy-truck applications, selling to OEMs, industrial customers and the auto/truck aftermarket in India and via exports. The company earns through direct manufacturing and sale of bearings from its own plants, supplemented by imports of products (such as spherical and cylindrical roller bearings) not yet made locally. It also acquired ABC Bearings Ltd. in India to strengthen its market position, and is investing in a new Bharuch facility to localize spherical and cylindrical roller bearing production for both domestic and export (US, Europe) markets.
- Manufacturing facilities
- 2 (Jamshedpur, Bharuch)
- Distribution centers
- 11
- Sales offices
- 4
- End-markets served
- Rail, Industrial, Off-Highway, Heavy Truck, Auto Aftermarket, Renewable Energy, Heavy Industries, Power Transmission
- Exchange listing
- NSE and BSE listed
- Engineering center
- 1 (Bangalore)
Guidance record · Q1 FY27
what the last two calls moved 14 tracked 3 delivered 2 missed 9 open- Incremental Volume Headroom (Existing Assets) went quiet said Q4 FY25 Promised: 15% Q1 FY27: Not addressed for the fourth consecutive quarter.
- GGB Plain Bearing Line Installation on track said Q4 FY25 Promised: By end of 2025 / early 2026 Q1 FY27: Investment in plain bearings at Bharuch factory continues to be on track.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 14.8%, net profit up 10.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 753 | 671 | 940 | 809 | 773 +3% | 764 +14% | 1,073 +14% | 929 +15% |
| EBITDA | 133 | 107 | 210 | 142 | 138 +4% | 96 −10% | 235 +12% | 172 +21% |
| Net profit | 90 | 74 | 187 | 104 | 89 −1% | 50 −32% | 155 −17% | 115 +11% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +9.2% 1Y
1Y: ₹3,023.8 on 10 Sept 2025 → ₹3,302.4. High ₹3,767.1 (23 Jun 2026), low ₹2,909.4 (14 Oct 2025).
How the price took the results
close before → close after
- Q1 FY27
- +2.4%
- 5 Aug
- Q4 FY26
- +1.0%
- 22 May
- Q3 FY26
- +1.5%
- 9 Feb
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 6.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to 17.9%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹2.8k Cr | ₹2.9k Cr | ₹3.1k Cr | ₹3.4k Cr |
| Operating profit | ₹561 Cr | ₹573 Cr | ₹591 Cr | ₹611 Cr |
| Operating margin | 20.0% | 19.7% | 18.8% | 17.9% |
| Interest | ₹2 Cr | ₹4 Cr | ₹4 Cr | ₹4 Cr |
| Depreciation | ₹87 Cr | ₹85 Cr | ₹85 Cr | ₹107 Cr |
| Net profit | ₹392 Cr | ₹392 Cr | ₹447 Cr | ₹398 Cr |
| Net margin | 14.0% | 13.5% | 14.2% | 11.6% |
| Cash from operations | ₹341 Cr | ₹340 Cr | ₹387 Cr | ₹437 Cr |
| Free cash flow | ₹280 Cr | ₹81 Cr | ₹14 Cr | ₹140 Cr |
| ROCE | 28.0% | 23.0% | 21.0% | 18.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹75 Cr | ₹75 Cr | ₹75 Cr | ₹75 Cr | ₹75 Cr | ₹75 Cr |
| Reserves | ₹1.3k Cr | ₹1.6k Cr | ₹2.0k Cr | ₹2.3k Cr | ₹2.7k Cr | ₹2.9k Cr |
| Borrowings | ₹35 Cr | ₹32 Cr | ₹31 Cr | ₹25 Cr | ₹15 Cr | ₹15 Cr |
| Other liabilities | ₹510 Cr | ₹505 Cr | ₹489 Cr | ₹545 Cr | ₹598 Cr | ₹763 Cr |
| Total liabilities | ₹1.9k Cr | ₹2.2k Cr | ₹2.6k Cr | ₹3.0k Cr | ₹3.4k Cr | ₹3.8k Cr |
| Fixed assets | ₹818 Cr | ₹860 Cr | ₹843 Cr | ₹853 Cr | ₹1.3k Cr | ₹1.4k Cr |
| Capital work in progress | ₹97 Cr | ₹50 Cr | ₹53 Cr | ₹104 Cr | ₹241 Cr | ₹101 Cr |
| Investments | ₹0 Cr | ₹99 Cr | ₹236 Cr | ₹161 Cr | ₹120 Cr | ₹180 Cr |
| Other assets | ₹973 Cr | ₹1.2k Cr | ₹1.4k Cr | ₹1.9k Cr | ₹1.8k Cr | ₹2.0k Cr |
| Total assets | ₹1.9k Cr | ₹2.2k Cr | ₹2.6k Cr | ₹3.0k Cr | ₹3.4k Cr | ₹3.8k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +2.58 pp while FIIs trimmed −2.12 pp. The shareholder count shrank 10% to 69,808.
- Promoters
- 51.0%
- FIIs
- 7.3%
- DIIs
- 30.3%
- Public
- 11.3%
Since Jun 2025
- DIIs +2.58 pp
- FIIs −2.12 pp
- Public −0.49 pp
How it drifted, 12 quarters
Over this window DIIs went from 19.7% to 30.3% — +10.6 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 57.7%, FIIs 6.7%, DIIs 19.7%, Public 15.9%.Dec '23: Promoters 57.7%, FIIs 7.1%, DIIs 22.6%, Public 12.6%.Mar '24: Promoters 57.7%, FIIs 7.2%, DIIs 23.6%, Public 11.4%.Jun '24: Promoters 51.0%, FIIs 12.5%, DIIs 25.6%, Public 10.8%.Sep '24: Promoters 51.0%, FIIs 13.1%, DIIs 24.8%, Public 11.0%.Dec '24: Promoters 51.0%, FIIs 13.0%, DIIs 24.9%, Public 11.0%.Mar '25: Promoters 51.0%, FIIs 10.7%, DIIs 26.8%, Public 11.5%.Jun '25: Promoters 51.0%, FIIs 9.4%, DIIs 27.7%, Public 11.8%.Sep '25: Promoters 51.0%, FIIs 7.4%, DIIs 29.7%, Public 11.8%.Dec '25: Promoters 51.0%, FIIs 6.9%, DIIs 30.1%, Public 11.8%.Mar '26: Promoters 51.0%, FIIs 7.0%, DIIs 30.6%, Public 11.3%.Jun '26: Promoters 51.0%, FIIs 7.3%, DIIs 30.3%, Public 11.3%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Franklin India Mid Cap Fund Mutual fund newly disclosed 1.19% held
- SBI Large & Midcap Fund Mutual fund +0.29 pp 4.07% held
- Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund +0.27 pp 4.39% held
- HDFC Life Insurance Company Limited Insurer +0.25 pp 1.29% held
- Invesco India Business Cycle Fund Mutual fund +0.12 pp 2.36% held
The same filing shows 2 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Timken India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Timken Singapore Pte Limited | 51.05% | unchanged |
| HDFC Mutual Fund - HDFC Mid-Cap Fund Mutual fund | 7.73% | −0.21 pp |
| Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund | 4.39% | +0.27 pp |
| SBI Large & Midcap Fund Mutual fund | 4.07% | +0.29 pp |
| Invesco India Business Cycle Fund Mutual fund | 2.36% | +0.12 pp |
| Mirae Asset Large Cap Fund Mutual fund | 1.57% | −0.29 pp |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 1.34% | unchanged |
| HDFC Life Insurance Company Limited Insurer | 1.29% | +0.25 pp |
| Franklin India Mid Cap Fund Mutual fund | 1.19% | newly disclosed |
| ICICI Prudential Smallcap Fund Mutual fund | — | off the list |
| Tata Aia Life Insurance Co Ltd-Whole Life Mid Cap Equity Fund-Ulif 009 04/01/07 Wle 110 Insurer | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in TIMKEN
Filings to Aug 2026
0 new, 4 added, 2 trimmed, 0 sold out — net −0.02 L shares (−0.0%).
- Held by funds
- ₹2.9k Cr
- 31 schemes
- Biggest holder
- HDFC Small Cap Fund
- ₹548 Cr · 1.3% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Small Cap Fund HDFC Mutual Fund | ₹548 Cr | held | May '25 |
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹435 Cr | held | Feb '18 |
| Nippon India Multi Cap Fund Nippon India Mutual Fund | ₹241 Cr | held | Jun '23 |
| Nippon India Growth Mid Cap Fund Nippon India Mutual Fund | ₹204 Cr | held | Jan '23 |
| HDFC Multi Cap Fund HDFC Mutual Fund | ₹195 Cr | held | Dec '22 |
| SBI Large and Midcap Fund SBI Mutual Fund | ₹176 Cr | held | Mar '23 |
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹127 Cr | held | Dec '22 |
| SBI Contra Fund SBI Mutual Fund | ₹114 Cr | held | Jun '23 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
4 added, 2 trimmed — net −2,476 shares (−0.0%)
- Funds are sitting on
- +24%
- vs est. average cost
- Held by funds
- ₹2.9k Cr
- 31 schemes · ≈ 14% of the company
- Biggest holder
- HDFC Small Cap Fund
- ₹548 Cr · 1.3% of that fund
- Longest holder
- Nippon India Small Cap Fund
- 8y 7m · since Feb '18
Shares held by these funds +50%
Aug '23 92.65 L shares Jul '26
What the price assumes
Growth trapTo justify its price of ₹3302, this stock must grow earnings at 35% every year for 7 years. Our analysis caps realistic growth at ~1%. At that growth it is worth ₹569 — downside of 83%.
- Growth the price implies
- 34.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 0.5% a year
- net profit, FY23–FY26 · EPS 0.6%
- The gap
- 0.3 pp
- -83% downside if it only repeats history
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Timken India Limited
Guides on how to read this kind of business and the numbers that matter.