Timken India Limited has informed the Exchange about Amalgamation/Merger
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Timken India Limited's Board approved a Scheme of Amalgamation to merge its wholly owned subsidiary Timken GGB Technology Private Limited into Timken India Limited. The subsidiary had turnover of Rs 58.71 crore in FY26 vs the parent company's Rs 3,419.31 crore. No cash or share consideration is involved as the subsidiary is 100% owned, and there will be no change in shareholding pattern. The company also reported FY26 standalone revenue of Rs 3,419.32 crore (up 8.6% YoY) but standalone PAT declined 11% to Rs 398.33 crore from Rs 447.39 crore in FY25. The Board recommended a dividend of Rs 2.50 per share, sharply lower than Rs 36 per share paid in the previous year. Deloitte Haskins & Sells LLP issued unmodified audit opinions on both standalone and consolidated results.
The PAT decline of 11% despite revenue growth indicates margin compression, and the sharp dividend cut may concern income-focused investors. The amalgamation of the trading subsidiary into the manufacturing parent is expected to simplify operations and reduce compliance costs, potentially improving efficiency going forward.