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 maintain our BUY rating. We value Timken at Rs 3560 i.e. 50x P/E on FY24E EPS.
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