Timken India Limited (Timken) reported a strong set of numbers in Q1FY19, surpassing consensus estimates on all three counts – revenue, EBITDA, and PAT. Standalone revenue was up 27% yoy (11% qoq) at Rs383cr, higher than the consensus estimate of Rs352cr. The company managed to keep a lid on operating costs, and hence, EBITDA grew at 40% yoy (29% qoq) to Rs59cr. EBITDA margin expanded 134bps yoy (214bps qoq) to 15.5%. EBITDA and EBITDA margin surpassed the consensus estimate of Rs50cr and 14.1%, respectively. Standalone PAT grew 44% yoy (34% qoq) to Rs32cr, surpassing the consensus estimate of Rs25cr. This was the second-highest quarterly PAT in at least 16 quarters.
Revenue growth during Q1FY19 was led by strong underlying demand from the domestic automobile segment, which has grown at 18% yoy in Q1FY19. The company also took price hikes during the quarter to pass on higher input cost to its clients.
EBITDA margin expansion was led by higher capacity utilization, price hike, and improving operating leverage. EBITDA margin of 15.5% in Q1FY19 was the highest in the past seven quarters.
Timken India Ltd is currently trading at Rs712.10, down 4.45 points, or 0.62%, from its previous close of Rs716.55 on the BSE. The scrip opened at Rs722 and has touched a high and low of Rs723.50 and Rs712.10, respectively. A total of 8,270 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.
Start investing in Equities, Derivatives, Mutual Funds and Currency
Temporary Password will be sent to your Mobile No. / Email Address to reset your password.
Make smart financial decisions
Trusted by more than 25 Lakhs Indians
Research and Stocks
Strategy and Tools
Terms & Conditions
By clicking on submit button, you authorize IIFL & its representatives & agents to provide information about various products, offers and services provided by IIFL through any mode including telephone calls, SMS, letters etc. . you confirm that laws in relation to unsolicited communication referred in National Do Not Call Registry as laid down by Telecom Regulatory Authority of India will not be applicable for such information/ communication.