ICICI Direct's research report on Timken India
Timken India is into manufacturing, distribution and sale of antifriction bearings, primarily tapered roller bearings, cylindrical roller bearing and other bearing components and accessories. They are also in power transmission product brands & partner with renewable energy companies to power some of world’s largest wind mills Timken offers products to defence, mining, aerospace, agriculture, rail, energy and automotive industry It has state-of-the-art manufacturing plants in Jamshedpur in Jharkhand and Bharuch in Gujarat It has a revenue breakup of 75% from domestic sales and 25% from export
Outlook
We continue to maintain out HOLD rating on the stock We value Timken at Rs 1740 i.e. 40x P/E on FY24E EPS
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