Timken India Ltd

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Timken India Ltd trades at ₹3,142, in a confirmed uptrend and 20 weeks into that stage. That is −5.1% against its own 200-day average. It sits at 30% of a 52-week range of ₹2,878 to ₹3,760. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (4 weeks and counting).

Today the stock is in a confirmed uptrend — week 20 of stage 2, confirmed. At ₹3,142 it trades −5.1% versus its 200-day average and sits at 30% of its 52-week range (₹2,878–₹3,760).

Against the market, two honest reads. Cumulative: over the last 10.4 years the stock moved +618% while the NIFTY 500 moved +272% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (4 weeks and counting; last ahead the week of 2026-06-25) — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: how the P/E reads against its own history.

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Timken India Ltd trades at 56.7× P/E, against too little history to rank. Its long-run median P/E is 57.4×, measured across 0.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 56.7× is against too little history to rank, against a long-run median of 57.4× measured over 0.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

Why the multiple sits where it does: over the past year annual EPS moved −10.2% against a −8.8% price move — the price outran earnings, pushing the multiple UP its own range.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

The PEG ratio and its quarterly curve, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 4.3% on reported income across 5 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Timken India Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read.

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

4-Factor Sector Score

43.8/100 — rank 7 of 7 in Bearings · 49% evidence confidence · provisional, ranked below fully-evidenced peers

Timken India Ltd scores 43.8 out of 100 against the 7 companies it is compared with in Bearings, ranking 7. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 17.4 + 15.8 + 8.5 + 2.1 = 43.8. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Timken India Ltd reported ₹1,090 Cr of revenue in the Mar 26 quarter, +14.6% year on year. That is the 2nd straight quarter of year-on-year growth. Over 1 years it has compounded at 8.8% a year. The last full year, FY26, came in at ₹3,478 Cr. The last four reported quarters add to ₹3,607 Cr.

Timken India Ltd reported ₹1,090 Cr of revenue in the Mar 26 quarter, +14.6% year on year. That is the 2nd straight quarter of year-on-year growth. Over 1 years it has compounded at 8.8% a year. The last full year, FY26, came in at ₹3,478 Cr. The last four reported quarters add to ₹3,607 Cr.

FY26 revenue came in at ₹3,478 Cr (+8.8% on the year), capping 1 years at 8.8% compound. The latest quarter (Mar 26) printed ₹1,090 Cr, +14.6% year on year — the 2nd consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +14.4% growth against the decade's 8.8% — the current year is running faster than its own long-run rate.

→ Revenue grew — did margins hold as it scaled? Next: 22.0% this quarter (−1.0 pp YoY).

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Timken India Ltd's operating margin is 22.0% in the Mar 26 quarter, −1.0 percentage points against the same quarter a year ago. Across the last four quarters the operating margin has moved +6.0 percentage points.

Timken India Ltd's operating margin is 22.0% in the Mar 26 quarter, −1.0 percentage points against the same quarter a year ago. Across the last four quarters the operating margin has moved +6.0 percentage points.

The latest quarter's operating margin is 22.0%, −1.0 pp against the same quarter a year ago. Across 2 fiscal years the operating margin has ranged 18.0%–19.0%.

Why the margin moved: operating margin went +6.0 pp year on year while gross margin went +0.7 pp — the gain came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

→ Margins slipped — did that reach the bottom line? Next: profit −16.8% in the latest quarter.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Timken India Ltd earned ₹158 Cr of net profit in the Mar 26 quarter, −16.8% year on year. Full-year FY26 profit was ₹415 Cr. The 1-year compound rate is −10.2%. That is 14.5% of the quarter's revenue. The same quarter a year earlier earned ₹78.0 Cr.

Timken India Ltd earned ₹158 Cr of net profit in the Mar 26 quarter, −16.8% year on year. Full-year FY26 profit was ₹415 Cr. The 1-year compound rate is −10.2%. That is 14.5% of the quarter's revenue. The same quarter a year earlier earned ₹78.0 Cr.

Mar 26 profit was ₹158 Cr, −16.8% year on year. On the full year, FY26 printed ₹415 Cr (−10.2%), and the 1-year compound rate is −10.2%.

→ Profit rose — but did the cash follow? Next: 96% of the last 2 years' profit arrived as cash.

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 2 fiscal years 96% of Timken India Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹446 Cr of operating cash against ₹415 Cr of profit. After ₹251 Cr of capital spending, ₹195 Cr was left as free cash.

FY26: operating cash of ₹446 Cr against reported profit of ₹415 Cr, leaving free cash of ₹195 Cr after ₹251 Cr of capital spending. Across the last 2 fiscal years the conversion rate is 96% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

Why conversion sits at 96%: the cash cycle tightened 12 days between FY25 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 2.4× depreciation over three years, so the next section's job is to check what that build-out is buying.

→ So follow the cash to where it goes. Next: ₹251 Cr of building over 1 years.

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Timken India Ltd's cash conversion cycle runs 116 days in FY26, down from 128 days in FY25. Capital spending ran ₹251 Cr over the last 1 years. At FY26 sales of ₹3,478 Cr each day of that cycle holds about ₹9.5 Cr, so roughly ₹1,105 Cr sits inside the business at any moment.

FY26: debtors at 85 days, inventory at 135 days — roughly 4.4 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 116 days, tighter than FY25's 128.

The full loop: cash goes out to suppliers and production on day 0; stock waits 135 days to sell; customers pay about 85 days after that; and suppliers themselves are paid at 105 days — netting out to the 116-day cycle.

In money terms: at FY26 sales of ₹3,478 Cr, each day of the cycle holds about ₹9.5 Cr — so the 116-day loop keeps roughly ₹1,105 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹251 Cr over the last 1 fiscal years against ₹106 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹101 Cr (FY26) — capacity paid for but not yet earning.

The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 19%.

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Timken India Ltd earns a ROCE of 19% in FY26. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 11.9% net margin on 0.94× asset turns.

FY26 ROCE is 19%.

Why the return is what it is — the wiring (FY26): 11.9% net margin × 0.94× asset turns × 1.27× balance-sheet leverage ≈ 14.2% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 4.3% on reported income across 5 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.01.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Timken India Ltd carries ₹15.0 Cr of borrowings against ₹2,914 Cr of equity in FY26, a debt-to-equity of 0.01. Operating profit covers the interest bill north of 100×. Over 1 years borrowings went from ₹18.0 Cr to ₹15.0 Cr. Capital spending ran ₹251 Cr across the last 1 of those years.

FY26: borrowings of ₹15.0 Cr against equity of ₹2,914 Cr — a debt-to-equity of 0.01. Operating profit covers the interest bill north of 100×. Over 1 years borrowings went from ₹18.0 Cr to ₹15.0 Cr while capital spending ran ₹251 Cr in just the last 1 — the build-out is being paid for out of cash, not debt.

The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 4.3% on reported income across 5 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

→ Who owns this, and are they adding or leaving? Next: Foreign institutions cut 5.2 points over 8 quarters.

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

Foreign institutions cut 5.2 points of Timken India Ltd over 8 quarters, the biggest move on the register. That takes foreign institutions to 7.3% of the company. Domestic institutions moved +4.7 points over the same window, to 30.3%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Foreign institutions: −5.2 points over 8 quarters to 7.3%; Domestic institutions: +4.7 points over 8 quarters to 30.3%; Promoters: +0.0 points over 8 quarters to 51.0%.

Why the register moved: rotation — foreign institutions −5.2 points against domestic institutions +4.7 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Timken India Ltd: the Z-score is withheld — it comes from the second data source this page could not reconcile, and a solvency score is not worth printing on a number two sources dispute. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

The safety line in one sentence: the Z-score is withheld — it comes from the second data source this page could not reconcile, and a solvency score is not worth printing on a number two sources dispute.

Frequently asked questions