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Swing Capital

Timken India Ltd

NSE: TIMKEN BSE: 522113Energy

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]

₹3,431
52W: ₹2800 — ₹3680
PE 59.9 · Book ₹368 · +832% vs book
Market Cap₹25,808 Cr
Stock P/E59.9Price to Earnings
ROCE20.9%Return on Capital
ROE17%Return on Equity
Div. Yield1.04%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Company has been maintaining a healthy dividend payout of 22.7%

Weaknesses

  • −Stock is trading at 9.32 times its book value
  • −Promoter holding has decreased over last 3 years: -16.8%

Shareholding Pattern

Promoters51.05%
FIIs6.96%
DIIs30.63%
Public11.35%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters51.05%51.05%51.05%51.05%51.05%51.05%51.05%51.05%
FIIs12.53%13.14%▲0.612.97%▼0.210.68%▼2.39.44%▼1.27.39%▼2.06.94%▼0.46.96%▲0.0
DIIs25.57%24.8%▼0.824.93%▲0.126.8%▲1.927.68%▲0.929.72%▲2.030.15%▲0.430.63%▲0.5
Public10.84%11.02%▲0.211.04%▲0.011.46%▲0.411.82%▲0.411.84%▲0.011.85%▲0.011.35%▼0.5

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales682612898784753671940809773764
Expenses546510699643620565730666635669
Operating Profit13610219914113310721014213896
OPM %20%17%22%18%18%16%22%18%18%13%
Net Profit93681419690741871048950
EPS ₹12.378.9818.812.811.969.8824.8413.8611.896.63

AI Insights

Revenue Trend

TTM revenue at ₹3,286Cr, up 4.4% YoY. OPM at 18%.

Debt Position

Borrowings at ₹15Cr. Debt-to-equity ratio: 0.01x. Healthy balance sheet.

Capex Cycle

CWIP at ₹241Cr (19% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 30.63% (+11.52pp change). FIIs: 6.96% (+0.40pp change). Promoters hold 51.05%.

Margin & Efficiency

ROCE improving from 19% (Mar 2014) to 21% (Mar 2025). Working capital days: 107.

Valuation

PE 59.9x with 20.9% ROCE. Price is 832% above book value of ₹368. Dividend yield: 1.04%.

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