Hold Timken India; target of Rs 700: ICICI Direct

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26 Aug, 2025 12:21

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ICICI Direct's research report on Timken India

The company has executed two capital expansion programmes, for the railway bearings segment (Rs 124.7 crore) and for the tapered roller bearing segment (Rs 64.3 crore). As per the management, both expansion programmes are almost over and will be revenue generating by Q1FY18.

Outlook

With an improving growth outlook, we now value the company at 36x FY19E EPS of Rs 19.3 and arrive at a target price of Rs 700 (Rs 645 earlier). We continue to maintain HOLD recommendation on the stock.

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