Asit C Mehta report on Timken India
Timken India Ltd. is engaged in the manufacturing, distribution, and sale of anti-friction bearings, components, accessories, and mechanical power transmission products for the customer base across different sectors. It also provides maintenance contracts, refurbishment services and industrial services. It was incorporated in 1987 and is a part of the global Timken Group.
Outlook
Hence, we recommend Timken India with a target price of ₹ 4,300 based on the PE Multiple of ~45x of FY26E EPS of ₹ 95.6; it’s currently available at a valuation of 34.82x which is a lower end PE valuation of last 3 years. It’s available at a very attractive valuation by looking at strong order inflow and earnings growth visibility in the next 3 years. Hence, we recommend ACCUMULATE rating for the long term.
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