TIMKEN · Capital Goods
Timken India Ltd. reported revenue of ₹969 cr for July to September 2026, +25.4% on the year and +4.3% on the quarter. That is faster than this quarter has grown in recent years (+6.5% on average), so the year-on-year number is not just the season. Over the last four quarters revenue comes to ₹3,735 cr, +17.0% on the four before.
Operating profit (EBITDA) was ₹178 cr, a margin of 18.4%, +52 bps on the year and −15 bps on the quarter. Over the last 8 quarters the margin has ranged from 12.6% to 22.3%, averaging 18.1%. Operating costs grew +24.6% against revenue growth of +25.4%, so more of each rupee of sales reached operating profit.
Net profit was ₹116 cr, +30.3% on the year and +0.9% on the quarter, with earnings per share of ₹15.43. Profit before other income, one-offs and tax grew 33.3%, so the profit growth came from the business itself. The tax rate of 26% is in line with its recent average. Profit over the last four quarters totals ₹436 cr, −4.0% on the four before.
Of the 45 companies in Capital goods and EPC that have reported Q2 FY27 so far, Timken India Ltd. ranks 16th on revenue growth; the sector median is +17.1%. Its margin moved +52 bps on the year against a sector median of +11 bps.
Capital goods and EPC revenue follows project execution, which makes quarters uneven; the order book and new orders tell more about the year than one quarter does. The quarterly statements do not carry the order book, new orders and working capital; those come with the filing read.
On earnings per share of ₹57.95 over the last four quarters, the stock at ₹3,014.20 trades at 52.0 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹612 cr | ₹898 cr | ₹784 cr | ₹753 cr | ₹671 cr | ₹940 cr | ₹809 cr | ₹773 cr | ₹764 cr | ₹1,073 cr | ₹929 cr | ₹969 cr |
| YoY | — | — | +9% | +10% | +10% | +5% | +3% | +3% | +14% | +14% | +15% | +25% |
| EBITDA margin | 16.7% | 22.2% | 18.0% | 17.7% | 15.9% | 22.3% | 17.6% | 17.9% | 12.6% | 21.9% | 18.5% | 18.4% |
| Other income, % of PBT | 12% | 6% | 9% | 10% | 13% | 7% | 8% | 8% | 8% | 1% | 7% | 5% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 24% | 26% | 27% | 24% | 7% | 20% | 26% | 31% | 25% | 23% | 26% |
| Net profit | ₹68.0 cr | ₹141 cr | ₹96.0 cr | ₹90.0 cr | ₹74.0 cr | ₹187 cr | ₹104 cr | ₹89.0 cr | ₹50.0 cr | ₹155 cr | ₹115 cr | ₹116 cr |
| YoY | — | — | +7% | −3% | +9% | +33% | +8% | −1% | −32% | −17% | +11% | +30% |
| Core profit YoY | — | — | +4% | −2% | +6% | +7% | +2% | −1% | −22% | +9% | +17% | +33% |
| EPS | ₹8.98 | ₹18.80 | ₹12.80 | ₹11.96 | ₹9.88 | ₹24.84 | ₹13.86 | ₹11.89 | ₹6.63 | ₹20.58 | ₹15.31 | ₹15.43 |
| Flags | · | · | ✓ | ✓ | ✓ | 2 | ✓ | ✓ | 1 | ✓ | ✓ | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Timken India Ltd. reported revenue of ₹969 cr (+25.4% on the year) and net profit of ₹116 cr (+30.3% on the year) for July to September 2026.
Profit before other income, exceptional items and tax moved +33.3% on the year, against +30.3% for reported profit.
None of the 7 checks that could run raised a question.
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Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.