Timken India Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Timken India Ltd filed with BSE on 10 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Timken India reported Q1 FY27 standalone revenue of INR929 crores, up about 15% year-on-year, with PBT of INR150 crores compared to INR130 crores in the same quarter last year. Management attributed growth to resilient demand in core segments and execution across export and domestic business, while noting steel, gas and other input cost pressures during the quarter. The company also discussed the Bharuch plant ramp-up, the pending NCLT approval for the Timken GGB Technology merger, and slower government railway procurement.
Numbers mentioned
Standalone revenue: INR929 crores (Q1 FY27)
p. 3
“our revenue has been INR929 crores, almost 15% growth for the same period last year”
Sanjay Koul, page 3 of the filed PDF · View the filing
PBT: INR150 crores (Q1 FY27)
p. 3
“PBT for the quarter stood at INR150 crores, and it was at INR130 crores in the same quarter last year”
Sanjay Koul, page 3 of the filed PDF · View the filing
PBT margin: 16.2% (Q1 FY27)
p. 3
“Our PBT margin was at 16.2%, broadly in line with 16.1% in Q1 '26”
Sanjay Koul, page 3 of the filed PDF · View the filing
Other income: INR10 crores (Q1 FY27)
p. 3
“Other income for the quarter was INR10 crores”
Sanjay Koul, page 3 of the filed PDF · View the filing
Net profit after tax: INR115 crores (Q1 FY27)
p. 3
“Net profit after tax stood at INR115 crores”
Sanjay Koul, page 3 of the filed PDF · View the filing
EBITDA margin: 19.6% (Q1 FY27)
p. 3
“The EBITDA margin for the quarter was at 19.6%”
Sanjay Koul, page 3 of the filed PDF · View the filing
Consolidated revenue: INR943 crores (Q1 FY27)
p. 4
“Consolidated revenues were INR943 crores for the quarter ended 30th of June, consolidated profit at INR156 crores, and consolidated net profit at INR119 crores”
Sanjay Koul, page 4 of the filed PDF · View the filing
FY26 standalone revenue: INR3,147 crores (FY26)
p. 3
“We closed the year with the highest stand-alone revenue of INR3,147 crores, and robust Q4 was more than INR1,000 crores”
Sanjay Koul, page 3 of the filed PDF · View the filing
Rail segment revenue: INR200 crore (Q1 FY27)
p. 4
“For this quarter, FY27 first quarter, rail stood at INR200 crore, that is 22% of the total INR929”
Sanjay Koul, page 4 of the filed PDF · View the filing
Mobile others segment revenue: INR184 crore (Q1 FY27)
p. 4
“Mobile others was at INR184 crore”
Sanjay Koul, page 4 of the filed PDF · View the filing
Distribution segment revenue: INR153.9 crore (Q1 FY27)
p. 4
“Distribution was at INR153.9, which is INR154 almost”
Sanjay Koul, page 4 of the filed PDF · View the filing
Process segment revenue: INR186 crore (Q1 FY27)
p. 4
“Process was INR186”
Sanjay Koul, page 4 of the filed PDF · View the filing
Exports revenue: INR200 crore (Q1 FY27)
p. 4
“Exports was at almost INR200 crore, slight export incentive of 1% of the total”
Sanjay Koul, page 4 of the filed PDF · View the filing
Gross margin: 39.9% (Q1 FY27)
p. 9
“if you look at it, the gross margin for this quarter, we were at 39.9%”
Sujit Kumar Pattanaik, page 9 of the filed PDF · View the filing
Gross margin year-over-year expansion: 100 basis points (Q1 FY27 vs Q1 FY26)
p. 9
“That is 100 basis points expanded year over-year”
Sujit Kumar Pattanaik, page 9 of the filed PDF · View the filing
Bharuch plant revenue: approximately 50 Crore (Q1 FY27)
p. 5
“As far as this quarter was concerned, the revenue was approximately in the range of 50 Crore”
Sujit Kumar Pattanaik, page 5 of the filed PDF · View the filing
Manufactured vs traded mix: 75/25 (Q1 FY27)
p. 10
“whatever numbers we gave in the earlier quarters, it’s almost in the similar range of 75/25”
Sujit Kumar Pattanaik, page 10 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Spherical roller bearing line utilization at Bharuch — 70% · August, September timeframe
stated firmly by Sujit Kumar Pattanaik
p. 6
“we expect that to ramp it up to 70%, which Chairman told in the last meeting, in August, September timeframe”
Sujit Kumar Pattanaik, page 6 of the filed PDF · View the filing
CRB line utilization at Bharuch — Q2 end and Q3
stated as an aspiration by Sujit Kumar Pattanaik
p. 6
“The CRB line is slightly lower in terms of its utilization, and we expect to ramp it up towards the Q2 end and Q3”
Sujit Kumar Pattanaik, page 6 of the filed PDF · View the filing
Rail plant commercial production — calendar year-end
stated firmly by Sanjay Koul
p. 7
“our rail investment, as it comes to start producing commercially by the calendar year-end, we will immediately ramp it up because of the fact that rail also has a nice market in other parts of the world which would benefit”
Sanjay Koul, page 7 of the filed PDF · View the filing
FY27 capex as percentage of sales — 8% to 10% of sales · FY27
stated firmly by Sujit Kumar Pattanaik
p. 10
“I think directionally it will be very similar numbers what you have explained”
Sujit Kumar Pattanaik, page 10 of the filed PDF · View the filing
Cost escalation outlook
stated conditionally by Sanjay Koul
p. 8
“Further cost escalations depend on how the war will play out, which, by the way, Brent was less than $80 two days back despite the war”
Sanjay Koul, page 8 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said 80/20 is a performance-enhancing framework being applied globally and would help India improve service levels and costs, without indicating a change in India's strategic direction.
Answered by Sanjay Koul
Asked by Mukesh Saraf: How does the parent's 80/20 portfolio review and belts divestment reflect on the India business strategy?
p. 5
“So we are looking forward to this strategic direction, which globally Mr. Lucian has started with Timken in Europe and America, and we can already feel the energy in that piece”
Sanjay Koul, page 5 of the filed PDF · View the filing
Management said the spherical roller bearing line was running at 40-45% utilization last quarter and expected to reach 70% by August-September, while the CRB line remains lower and will ramp up later.
Answered by Sujit Kumar Pattanaik
Asked by Mukesh Saraf: What is the utilization rate and ramp-up status at the Bharuch plant?
p. 6
“That utilization level in the last quarter would have been anywhere close to 40%-45%, and we expect that to ramp it up to 70%”
Sujit Kumar Pattanaik, page 6 of the filed PDF · View the filing
Management attributed process segment growth to metal projects and wind energy demand, and export growth to resilient U.S. demand for tapers, expecting the trend to continue despite geopolitical uncertainty.
Answered by Sanjay Koul
Asked by Raghunandhan: What is driving growth in the process and export segments, and will it continue?
p. 6
“So it is not necessarily only the MRO, it is the projects which is there. And then also, there is a nice RE factor in this. So the wind is playing a good part”
Sanjay Koul, page 6 of the filed PDF · View the filing
Management said government railway procurement is currently slow due to fund diversion but expects it to recover over time, with the Jamshedpur rail plant helping once commercial production begins.
Answered by Sanjay Koul
Asked by Raghunandhan: What is the outlook for railway segment growth given the slow start?
p. 7
“So railway is a little bit sluggish as we speak, but it is an issue of time, so it will come back”
Sanjay Koul, page 7 of the filed PDF · View the filing
Management detailed steel price increases already absorbed into the system and said they do not foresee major further escalation except in the base oil market used for grease.
Answered by Sanjay Koul
Asked by Raghunandhan: What is the status of cost pressures and any further escalation expected?
p. 8
“But beyond this, whatever has come, I do not see major, there might be a little bit, like the carbide market has gone up pretty significantly, the grinding market slightly”
Sanjay Koul, page 8 of the filed PDF · View the filing
Management said price pass-through varies by customer and contract type, with better success in heavy truck and tractor markets versus fixed-contract segments like railways.
Answered by Sanjay Koul
Asked by Varun Jain: How much of the required price hike has been achieved to offset cost inflation as of Q1?
p. 9
“But heavy truck market, tractor, we are able to get largely our cost escalation into the pricing”
Sanjay Koul, page 9 of the filed PDF · View the filing
Management said the mix remained similar to prior quarters at roughly 75/25.
Answered by Sujit Kumar Pattanaik
Asked by Varun Jain: What was the manufactured versus traded product mix in Q1?
p. 10
“It is almost in the similar range, I would say. Though we do not disclose, but I think whatever numbers we gave in the earlier quarters, it’s almost in the similar range of 75/25”
Sujit Kumar Pattanaik, page 10 of the filed PDF · View the filing
Risks flagged
Rising steel and input costs pressuring margins
p. 7
“The steel industry is pushing hard to increase their prices. They have already put some January INR1,500 or INR1,600 per ton, then by April another INR3,500 per ton”
Sanjay Koul, page 7 of the filed PDF · View the filing
Volatility in base oil prices used for grease
p. 8
“the only market which is a little bit currently volatile is the base oil, which goes into the grease”
Sanjay Koul, page 8 of the filed PDF · View the filing
Slow government procurement for railways
p. 7
“the government buying, especially on the railway side, is slow. The government buying for railways is certainly slow”
Sanjay Koul, page 7 of the filed PDF · View the filing
Geopolitical and war-related uncertainty affecting costs and trade
p. 6
“geopolitics is playing its role and all that is happening on one side”
Sanjay Koul, page 6 of the filed PDF · View the filing
Weak demand in some export markets
p. 6
“Australia is flattish. ASEAN is down. China is down, but the American market is up”
Sanjay Koul, page 6 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.