Timken India Limited has informed the Exchange that Board of Directors at its meeting held on May 18, 2026, recommended Final Dividend of Rs. 2.5 per equity share.
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Timken India's Board approved audited FY2026 results showing standalone revenue of Rs 34,193 million (up 8.6% YoY) but net profit declined to Rs 3,983 million (down 11% from Rs 4,474 million). The Board recommended a final dividend of Rs 2.50 per share, a sharp reduction from Rs 36.00 per share paid last year, subject to shareholder approval at the AGM. The company also approved a scheme to amalgamate its wholly-owned subsidiary Timken GGB Technology Private Limited (turnover Rs 587 million) into Timken India, with no cash or share consideration involved since it is a 100% subsidiary. Two senior management appointments were made effective May 18, 2026. Auditors Deloitte Haskins & Sells issued unmodified opinions on both standalone and consolidated results.
The dramatic dividend cut from Rs 36 to Rs 2.50 per share signals potential cash conservation, possibly for the Rs 1,288 million acquisition of GGB completed in December 2025. While the amalgamation is accretive (simplifying structure with no shareholding change), the steep dividend reduction and lower profitability may weigh on near-term investor sentiment.