Timken India Limited

TIMKEN.BO

Industrial - Machinery · Industrials

Price

₹3357.65

+14.70 (+0.44%)

Market Cap

₹252.57B

Exchange

Bombay Stock Exchange

Winston Score

Winston is serious

Mixed quality — meaningful strengths and weaknesses.

Data as of Aug 9, 2026 · filings through Jun 30, 2026

Timken India Limited makes bearings and related mechanical parts used to reduce friction in rotating machinery. Its products go into trains, trucks, wind turbines, steel mills, and industrial equipment. The company is a subsidiary of the US-based Timken Company, one of the world's largest makers of engineered bearings and power transmission products.

Timken India earns revenue by selling bearings, housed units, and related components to manufacturers and industrial customers across India. It operates primarily in India, serving both domestic industries and export markets, and benefits from its parent company's global engineering expertise and brand reputation as a key competitive advantage. The main growth driver is India's expanding manufacturing sector, including railways modernization and renewable energy investment, though the company faces risk from raw material cost swings and competition from lower-cost domestic and Chinese bearing producers.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+16.6% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+14.8% YoY

YoY Growth Rate

Steady EPS growth

R&D Spend

$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

54.9%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$3.6B cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Timken India Limited is a rare growth stock that's already generating positive cash flow while growing at 17%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

−0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 75.2M (2022) → 75.2M (2026)

Score breakdown

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Quality

Gross Margin

31.4%

Modest — 31.4% gross margin

Operating Margin

15.5%

Healthy — 15.5% operating margin

ROCE

5.0%

Weak — 5.0% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY

+13.0%

Fast-growing sales (+13.0% YoY)

EPS YoY

-7.3%

Earnings shrinking (-7.3% YoY)

Slight earnings drop. Typical near a cyclical low.

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Cash Conversion

56%

Weak — only 56% of profit becomes cash

FCF Margin

2.6%

Thin free cash flow (2.6%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity

0.00

Conservative — low debt load (0.00)

Interest Cover

163.20x

Comfortably covers interest (163.2x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

59.9x

Expensive — P/E 59.9

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward

+21.2

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (59.9 → 38.7)

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Dividends

Dividend Yield

0.08%

Small dividend — 0.08% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth

-21.3%

Dividend cut (-21.3% YoY) — warning sign

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