India · Delayed Price · Currency is INR Timken India Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY 2026 saw record revenue and strong export growth, with robust performance in core segments despite cost pressures. Price hikes to offset input inflation are underway, and major capacity expansions remain on track. CapEx will stay near 8–10% of revenue.
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Q3 FY26 revenue rose 13.8% YoY to INR 764 crore, but margins were compressed by one-time costs and ramp-up expenses at the new Bharuch plant. Segment growth was led by mobile and process, while rail and exports remained steady. Margin normalization is expected as new capacity utilization improves.
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Revenue grew 3.2% year-over-year to INR 808.8 crore, with PBT margin at 16.1% and strong cost control. Rail and process segments are expected to see high single-digit growth, while the Bharuch plant ramps up production for both export and domestic markets.
Fiscal Year 2025
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Q4 FY25 saw 4.7% YOY and 40% sequential sales growth, with full-year revenue up 8.2% and strong rail segment performance. Export markets remain mixed, while new investments in plain bearings and rail capacity are underway. Q4 margins were boosted by a one-time APA gain.
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Q3 FY25 saw record revenue of INR 671 crore, up 9.7% YoY, with resilient margins and strong export and rail segment performance. The new Bharuch plant is set to drive future growth, targeting 50%-60% capacity utilization by FY26 end.
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Q2 FY25 revenue grew 10% year-over-year to INR 753 crore, led by domestic demand, while exports and margins were impacted by weak global markets and product mix. The Bharuch plant expansion is progressing, with new product lines set to boost future growth.
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Record Q1 revenue of INR 784 crore was driven by strong rail and domestic demand, though margins declined due to higher costs. Export growth faces logistical challenges, but rail and wind segments are expected to sustain long-term growth.