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Dossier · TIMKEN INDIA LTD. · 29 October 2026Page 1 of 3
Company Dossier
MarketPing Research · factual · no rating expressed
Manufactures bearings — primarily tapered roller bearings (TRB), cylindrical roller bearings (CRB) and plain bearings — at its Bharuch and Jamshedpur plants in India. In FY26, consolidated revenue reached INR 3,478 crores, with standalone revenue at INR 3,148 crores (+8.6% YoY). The product range serves mobile equipment applications (around 65% of India bearing demand) like railways and vehicles, and process industries (around 35%) such as steel, cement, power generation, material handling, and wind energy where turbines are scaling toward 5MW.
A new Bharuch plant generated INR 80 crores in its first full year of operation, with the company targeting 70% utilisation by July 2026. The Jamshedpur rail bearing expansion, with capex of INR 120+ crores, is scheduled to begin production in November-December 2026. The board approved a merger of wholly-owned Timken GGB into the parent to consolidate plain-bearings operations.
Exports surged 66% YoY to INR 707 crores in FY26, with North America leading despite the absence of a US trade deal. Q4 standalone revenue crossed INR 1,000 crores for the first time at INR 1,073.1 crores (+14.2% YoY).
Materials — particularly steel, grinding wheels and coolants — make up 29.8% of revenue, and input cost inflation has intensified; only 10% of planned price hikes have been passed through to customers so far. Capex ran at 8.5% of revenue in FY26, with FY27 guided at 8-9%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Bearings (TRB, CRB, plain bearings) for mobile equipment, Bearings (TRB, CRB, plain bearings) for process industries, Exports. Asset-heavy industrial bearings manufacturer; capex ~8.5% of revenue; debt-free
What a broker report prints here — the analyst's thesis. This dossier prints the filed record instead; the narrative read of the latest results, the guidance ledger and the earnings-call summary are the composer's sections (INSTITUTIONAL-PLAN.md M3) and are not yet produced.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
₹ crore · consolidated
FY26
Revenue
3,478
EBITDA (ex other income)
632
margin %
18.2
Owners' profit
415
EPS, as reported (₹)
55.16
ROE % · ROCE %
14.2 · 18.5
Debt / equity (x)
0.00
Cash from operations
446
Capex
(297)
Source: SEBI results XBRL as filed with BSE/NSE; EBITDA excludes other income.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · TIMKEN INDIA LTD. · 29 October 2026Page 2 of 3
Exhibit 2: Quarterly performance, last 3 quarters
₹ crore
Q3 FY26
Q4 FY26
Q1 FY27
Revenue
780
1,090
943
Profit before tax
78
212
156
Net profit
55
158
120
EPS (₹)
7.25
21.05
15.91
Source: quarterly results as filed; the balance sheet is filed half-yearly and is not repeated here.
Exhibit 3: Peers — basic industry group, by market cap
Company
M.cap ₹ cr
P/E
P/B
EV/EBITDA
ROE %
ROCE %
Rev CAGR 5y %
EBITDA m. %
TIMKEN INDIA LTD. ◆
21,206
63.8
7.28
31.6
14.2
18.4
—
20.0
CARBORUNDUM UNIVERSAL LTD
20,669
98.0
5.16
39.3
4.2
5.9
14.6
12.6
GRINDWELL NORTON LIMITED
20,594
38.8
8.08
30.8
16.3
20.7
13.4
22.6
SKF IND (INDUSTRIAL) LTD
11,964
91.3
8.10
—
14.7
14.9
—
10.1
WENDT (INDIA) LIMITED
1,368
80.8
5.39
35.7
5.7
8.9
11.6
17.6
GALAXY BEARINGS LTD.
318
85.8
2.89
—
3.0
4.1
—
29.7
NRB INDUS. BEARINGS LTD.
68
—
—
—
53.4
(75.7)
6.0
(4.0)
Source: exchange data and filed statements via the screener; multiples at current prices.
Exhibit 4: Where the company sits in its group
Metric
Company
Group median
Rank
Better than
P/E (TTM)
63.8
17.6
302 of 337
10%
P/B
7.3
1.9
280 of 316
11%
ROCE
18.4
9.7
63 of 373
83%
ROE
14.2
8.7
72 of 322
78%
Debt / Equity
0.0
0.2
2 of 320
86%
EBITDA margin
20.0
11.9
73 of 317
77%
Market cap
21206
203
14 of 383
97%
Source: MarketPing peer ranks; a rank is a measurement, not a view.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
Dossier · TIMKEN INDIA LTD. · 29 October 2026Page 3 of 3
Exhibit 5: Filings of the last 90 days, with the measured price reaction
Date · filing
Category
Importance
Next day %
5-day %
23 Oct 2026 · Timken India schedules Q2 FY27 post-results conference call
board shareholder meetings
low
—
—
12 Oct 2026 · Timken India appoints new President for India and SE Asia, promotes HR head
management changes
medium
—
—
9 Oct 2026 · Board to approve Q2 FY27 results on 29 Oct 2026
board shareholder meetings
low
—
—
7 Oct 2026 · Routine quarterly dematerialisation confirmation certificate filed
compliance
minimal
—
—
25 Sept 2026 · Timken India trading window closes from Oct 1 ahead of Q2 results
compliance
minimal
—
—
19 Aug 2026 · Timken India 39th AGM: All 7 resolutions passed; Rs 2.50 dividend approved
compliance
minimal
—
—
18 Aug 2026 · Timken India 39th AGM proceedings - Rs 2.50 dividend proposed
board shareholder meetings
medium
—
—
18 Aug 2026 · Timken India 39th AGM: 7 resolutions tabled, dividend proposed
board shareholder meetings
medium
—
—
11 Aug 2026 · Newspaper publication of NCLT petition for subsidiary merger
compliance
minimal
—
—
10 Aug 2026 · Timken India Q1 FY27 call transcript: revenue INR929 cr, 15% YoY growth
investor communications
medium
—
—
Source: exchange announcements; each reaction is measured from the close before the filing. Next day = the close one session after the reaction day (the first session that could trade the filing).
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This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
Every figure is a filed number or a ratio over filed numbers · No rating, target or fair value is expressed · Disclosures on the last pagemarketping.in
