- 09 Aug 2024
- ICICI Securities
TIMKEN INDIA - DECENT PERFORMANCE IN Q1FY25
TIMKEN - 2851 Change: 59.20 (2.12 %)News: Timken India reported decent set of numbers in Q1FY25. Revenue was up 9.2% YoY (-12.7% QoQ) to Rs 783.7 crore. EBITDA margin stood at 18% (-93 bps YoY, -415 bps QoQ). Subsequently, EBITDA was up 3.8% YoY (-29.1% QoQ) to Rs 140.9 crore. PAT increased by 6.8% YoY (-31.9% QoQ) to Rs 96.3 crore as other income was up 27.3% YoY (+10.7% QoQ).
Views: We believe that the overall growth during the quarter was possibly led by healthy growth in domestic railways, industrials & after-market segments. Going ahead, growth prospects remains strong as we expect company’s operational performance to improve, led by sustained strong demand from railways & industrials segments including after-market and recovery in mobility & exports segments. Moreover, upcoming commencement of spherical and cylindrical roller bearings facilities would help company in increasing localisation of these products and thus improving its margins.
Impact: Neutral