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Timken India Q3 FY26 Revenue Up 13.8% YoY to ₹764 Cr; Margins Hit by One-time Costs
Timken India reported a 13.8% YoY increase in Q3 FY26 revenue to ₹764.4 crores, driven by a 20% YoY growth in the mobile (CV) segment. However, profitability was impacted by transitional costs, including Labor Code adjustments and ramp-up expenses for the new Bharuch facility, leading to a 9-month PBT margin of 13.8% versus 15.9% last year. The company is targeting over 50% capacity utilization at its Bharuch plant by Q1 FY27, up from the current 30% level. Management remains optimistic about export opportunities following recent trade developments between India, the US, and the EU.
Key Highlights
Revenue grew 13.8% YoY to ₹764.4 crores in Q3 FY26, with 9-month revenue reaching ₹2,346 crores.
Mobile segment revenue increased 20% YoY to ₹157.1 crores, reflecting strong demand in commercial vehicles.
Bharuch plant utilization is currently at 30%, with all SRB and CRB lines now capitalized and undergoing customer approvals.
One-time impacts from Labor Code and plant ramp-up costs compressed 9-month PBT margins to 13.8% from 15.9%.
Investment of ₹35 crores in the new FRC line is on track for completion by Q1/Q2 FY27.
💼 Action for Investors
Investors should monitor the stabilization of the Bharuch plant and the normalization of margins as one-time transitional costs subside. The strong growth in the CV segment and potential export tailwinds from global trade deals are positive long-term indicators.
Timken India Q3 Standalone Net Profit Drops 33% YoY to ₹498.5 Mn; Revenue Up 13.8%
Timken India reported a standalone net profit of ₹498.49 million for the quarter ended December 31, 2025, a significant 33% decline compared to ₹743.06 million in the same period last year. While standalone revenue from operations grew 13.8% YoY to ₹7,643.76 million, profitability was pressured by rising material costs and a ₹46.74 million provision for new labor codes. The company successfully completed the acquisition of Timken GGB Technology for ₹1,288 million during the quarter. Additionally, the board has appointed Michael Discenza, CFO of the parent company, as a Non-Executive Director.
Key Highlights
Standalone Revenue from operations increased 13.8% YoY to ₹7,643.76 million.
Standalone Net Profit fell 33% YoY to ₹498.49 million, with EPS dropping to ₹6.63 from ₹9.88.
Completed 100% acquisition of Timken GGB Technology Private Limited for ₹1,288 million on December 1, 2025.
Recognized a one-time employee benefit expense of ₹46.74 million due to the implementation of new Government Labour Codes.
Michael Discenza (VP & CFO of The Timken Company) appointed as Non-Executive Director effective April 15, 2026.
💼 Action for Investors
Investors should be cautious regarding the sharp margin contraction despite healthy top-line growth. Monitor the integration of the GGB acquisition and whether the new board leadership can address rising operational costs in upcoming quarters.
Timken India Q3 Revenue Up 14% YoY to ₹7,797 Mn; Net Profit Declines 30% to ₹546 Mn
Timken India reported a 14.1% YoY growth in consolidated revenue for Q3 FY26, reaching ₹7,796.69 million. However, consolidated net profit fell significantly by 30.2% YoY to ₹545.56 million, impacted by rising material costs and a one-time provision of ₹46.74 million for new Labour Codes. The company successfully completed the acquisition of Timken GGB Technology Private Limited for ₹1,288 million on December 1, 2025. Additionally, the board has appointed Mr. Michael Discenza as a Non-Executive Director effective April 2026.
Key Highlights
Consolidated Revenue from operations grew 14.1% YoY to ₹7,796.69 million.
Consolidated Net Profit declined 30.2% YoY to ₹545.56 million from ₹782.08 million.
Completed 100% acquisition of Timken GGB Technology Private Limited for ₹1,288 million.
Recognized a one-time employee benefit expense of ₹46.74 million due to Government Labour Code notifications.
Quarterly EPS dropped to ₹7.25 compared to ₹10.40 in the same quarter last year.
💼 Action for Investors
Investors should be cautious as the sharp decline in profitability despite healthy revenue growth indicates significant margin pressure. Monitor the integration of the GGB acquisition and the company's ability to pass on rising material costs in future quarters.
Timken India Tax Demand Reduced to ₹32.47 Cr from ₹74.77 Cr After Rectification
Timken India has received a rectified order from the Income Tax Department for Assessment Year 2022-23, significantly lowering a previous tax demand. The initial demand of ₹74.77 crore was reduced to ₹32.47 crore after the company pointed out that the department erroneously applied a tax rate of 34.94% instead of 25.168%. While the reduction is a positive development, the company still considers the remaining demand of ₹32.47 crore to be flawed and unsustainable. Timken plans to file an appeal to quash the remaining demand and does not anticipate any immediate financial impact.
Key Highlights
Income Tax Department reduced the tax demand from ₹74.77 crore to ₹32.47 crore following a rectification petition.
The error involved the application of a 34.94% tax rate instead of the company's actual rate of 25.168%.
The demand pertains to Assessment Year 2022-23 and includes interest under sections 234A, 234B, and 234C.
Timken India intends to appeal the remaining ₹32.47 crore demand to get it quashed or further rectified.
Company states there is no immediate financial or monetary impact expected from this order.
💼 Action for Investors
Investors should view the reduction in demand as a positive procedural win, but continue to monitor the outcome of the company's planned appeal against the remaining ₹32.47 crore liability.
Timken India Receives ₹74.77 Crore Income Tax Demand for AY 2022-23
Timken India Limited has received an assessment order and demand notice from the Income Tax Department for the Assessment Year 2022-23. The department has challenged the company's transfer pricing methods regarding transactions with associated enterprises, resulting in an income upward revision of ₹89.08 crore. A total tax demand of ₹74.77 crore, including interest, has been raised against the company. Timken India maintains that the order is erroneous and plans to file an appeal, stating there is no immediate financial impact.
Key Highlights
Income Tax Department issued a demand notice of ₹74,76,70,348 (approx. ₹74.77 Cr) for AY 2022-23.
The department increased the company's taxable income by ₹89,08,07,881 due to transfer pricing adjustments.
The demand includes interest components under Sections 234A, 234B, and 234C of the Income Tax Act.
The dispute centers on the distribution segment and the methods used to determine arm's length pricing.
Company intends to appeal the order before the appropriate authority to get it quashed or rectified.
💼 Action for Investors
Investors should monitor the outcome of the appeal process as a final adverse ruling would impact the company's cash reserves. However, since the company is contesting the demand and such transfer pricing disputes are common for MNCs, no immediate panic is warranted.
Timken India completes acquisition of Timken GGB Technology Private Limited
Timken India Limited has completed the purchase of equity shares of Timken GGB Technology Private Limited from Timken Europe B.V. and The Timken Company. This acquisition was completed on December 1, 2025, following earlier communications on November 3, 2025, and November 22, 2025. The announcement was made to the National Stock Exchange of India Limited and BSE Limited, informing them of the completed transaction. This acquisition signifies Timken India's strategic move to expand its business.
Key Highlights
Acquisition of Timken GGB Technology Private Limited completed on 1 December, 2025
Seller was Timken Europe B.V. and The Timken Company
Previous communications regarding the acquisition were made on 3 November, 2025 & 22 November, 2025
💼 Action for Investors
Investors should monitor Timken India's future announcements and financial performance to assess the impact of this acquisition on the company's growth and profitability. No immediate action is needed, but keep an eye on how this acquisition integrates into Timken India's overall strategy.