Timken India Ltd

AGM Details

• AGM held on 18 August 2026 at 3:00 PM IST via VC/OAVM.

Resolution 1: Adoption of Audited Financial Statements

• Ordinary resolution adopted; financial statements and reports approved.

Resolution 2: Dividend Declaration

• Dividend of Rs 2.50 per equity share approved.

Resolution 3: Re-appointment of Hansal Patel

• Ordinary resolution for re-appointment of Hansal Patel, retiring by rotation.

Resolution 4: Cost Auditor Remuneration

• Ordinary resolution to ratify the cost auditor remuneration approved.

Resolution 5: Related Party Transactions - The Timken Company

• Approval of material related-party transactions with The Timken Company.

Resolution 6: Related Party Transactions - The Timken Corporation

• Approval of material related-party transactions with The Timken Corporation.

Resolution 7: Related Party Transactions - Timken Wuxi Bearings Co. Ltd.

• Approval of material related-party transactions with Timken Wuxi Bearings Co. Ltd.

Voting notes

• Promoter/director votes on RPT resolutions invalidated; resolutions still approved.

Director changes

• Hansal Patel retires by rotation; re-appointment approved.

AGM proceedings

• 39th AGM held Aug 18, 2026 via VC; quorum confirmed.
• Notice and Board's Report read; notices emailed; website access provided.
• Dividend proposed: Rs 2.50 per equity share for FY2025-26.
• Director Hansal Patel; retirement by rotation; re-appointment proposed.
• Related party transactions discussed: The Timken Company, Timken Corporation, Timken Wuxi Bearings.
• Remote e-voting window 15–17 Aug 2026; NSDL e-voting enabled.
• Consolidated voting results to be filed with stock exchanges and posted online.

Financial Performance

• Q1 FY27 standalone revenue INR 929 crores, up ~15% YoY.
• PBT INR 150 crores; PAT INR 115 crores.
• EBITDA margin 19.6%; depreciation higher due to new capacity.
• Consolidated revenue INR 943 crores; consolidated net profit INR 119 crores.
• Gross margin 39.9%, up 100 bps YoY.

Operating Update

• Rail revenue INR 200 crores, 22% of quarterly total.
• Process segment growth ~30% YoY, led by metal customers and wind projects.
• Exports around INR 200 crores; US demand improving.
• Bharuch ramp-up: PPAP ongoing; utilization 40-45% last quarter; target ~70% by Aug-Sep.
• Manufactured vs traded mix broad 75/25; SRBs higher than CRB at Bharuch.
• Rail procurement slower; calendar-year-end ramp expected to lift revenue.

Capex and Projects

• Bharuch ramp-up progressing; PPAP ongoing; trend toward breakeven.
• Jamshedpur rail expansion investment on track.
• Amalgamation of Timken GGB Tech with Timken India approved by Board; with NCLT Bangalore.
• BIS certification obtained for CRB and TRB rollers.

Guidance and Outlook

• FY27 capex guidance: 8-10% of sales; on track overall.
• U.S. market up; Europe down; other geographies mixed.
• Cost pressures persist from steel; price hikes being passed through.
• Rail project ramp expected by calendar year-end to boost revenue.

Q&A Highlights

• Segment mix disclosed: Rail 200; Mobile/Others 184; Distribution 154; Process 186; Exports ~200.
• 80/20 analysis used to focus on performance enhancers and draggers.
• Bharuch utilization target ~70% by Aug-Sep; ramp remains key.
• Margin commentary: Q1 gross margin 39.9%; 100 bp YoY expansion; unfavourable Q1 mix cited.

BIS licenses for bearings

• Timken India was awarded four BIS licenses for bearing products across Bharuch (new) and Jamshedpur plants.
• CRB Roller and CRB production licenses issued for Bharuch (new) plant.
• TRB Roller licenses granted for Bharuch (new) and Jamshedpur plants.
• Licenses enable enhanced supply assurance, faster tender qualification, and ongoing capacity investments.

Dematerialisation status

• Dematerialisation requests for the reporting quarter were processed and confirmed to depositories.
• Securities dematerialised have been listed on exchanges where the earlier securities are listed.
• Physical certificates were mutilated and cancelled after verification, with depository's name substituted as registered owner within timelines.

Meeting Details

• Date: 4 August 2026; time and location not disclosed.

Key Agenda Items

• Consider and approve financial results for the quarter ended 30 June 2026.

Other Notes

• Trading window closure periods not disclosed.