Timken India (522113) Q3 24/25 earnings summary

Executive summary

• Achieved best-ever December quarter with revenue of INR 671 crore, marking 9.7% YoY growth, driven by moderate domestic demand and an uptick in exports.

• Maintained resilient margins despite unfavorable mix, supported by cost leverage and a debt-free balance sheet with strong cash reserves.

• Bharuch Greenfield project nearing completion, with machines installed and production expected to commence soon.

• Board approved unaudited financial results for the quarter and nine months ended December 31, 2024.

• Financial results were reviewed by the Audit Committee and received an unmodified limited review report from the statutory auditor.

Financial highlights

• Q3 FY25 revenue reached INR 671.4 crore, up 9.7% YoY; PBT margin at 14.6% vs. 14.9% YoY.

• Net profit after tax for Q3 FY25 stood at ₹743.06 million, compared to ₹675.29 million in Q3 FY24.

• Total income for the nine months ended December 31, 2024, was ₹22,080.19 million, up from ₹20,117.76 million year-over-year.

• Earnings per share (EPS) for Q3 FY25 was ₹9.88, compared to ₹8.98 in Q3 FY24.

• Segment-wise Q3: Rail INR 116 crore (17%), Mobile INR 139 crore (21%), Distribution INR 127 crore (19%), Process Industries INR 132 crore (20%), Exports INR 152 crore (23%).

Outlook and guidance

• Rail segment expected to remain strong, with full-shift production and a healthy order book; Q4 typically sees higher demand due to fiscal year-end.

• Exports expected to be flattish to slightly up in the near term, with potential upside depending on global trade policies.

• New Bharuch plant aims for 50%-60% capacity utilization by end of FY26, with further ramp-up in subsequent years.

• Commercial vehicle and construction markets expected to be slightly better than last year, but not booming.

• No forward-looking guidance or outlook was provided in the disclosed materials.