Timken India (522113) Q1 26/27 earnings summary

Executive summary

• Q1 FY 2027 began with steady performance, achieving high double-digit revenue growth year-over-year, driven by resilient demand in core segments and strong execution in both export and domestic markets.

• Unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, were approved, with limited review reports issued by Deloitte Haskins & Sells LLP with unmodified opinions.

• Revenue for the quarter reached INR 929 crore, up 15% from the same period last year, with PBT at INR 150 crore and net profit after tax at INR 115 crore.

• Consolidated revenues were INR 943 crore, with consolidated net profit at INR 119 crore.

• Organizational restructuring led to cessation of three senior management roles, though affected individuals remain employed.

Financial highlights

• Standalone revenue from operations for Q1 FY27 was ₹9,290.85 million, up from ₹8,088.17 million in Q1 FY26 and down from ₹10,731.35 million in Q4 FY26.

• Standalone net profit after tax for Q1 FY27 was ₹1,124.98 million, compared to ₹1,035.10 million in Q1 FY26 and ₹1,563.79 million in Q4 FY26.

• Consolidated revenue from operations for Q1 FY27 was ₹9,433.20 million, up from ₹8,221.79 million in Q1 FY26 and down from ₹10,898.26 million in Q4 FY26.

• Consolidated net profit after tax for Q1 FY27 was ₹1,196.59 million, compared to ₹1,084.25 million in Q1 FY26 and ₹1,583.05 million in Q4 FY26.

• EBITDA margin for the quarter was 19.6%; PBT margin stood at 16.2%, broadly in line with the previous year.

Outlook and guidance

• Management expects continued ramp-up at the Bharuch plant, with utilization for spherical roller bearings expected to reach 70% by August-September.

• Rail segment growth is expected to improve as government procurement resumes and new capacity at Jamshedpur comes online.

• Export growth, especially to the U.S., is expected to remain strong, while Europe and ASEAN markets are subdued.

• The company continues to monitor regulatory changes, especially regarding new labor codes, and will adjust accounting treatment as required.