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Timken India
#TimkenIndia
#TechnoFunda
#Fibonalysis
Let's have a look at another gem of a company. Albeit costly as on date. No harm in trying to understand why it stands out and should be part of Portfolio whenever opportunity knocks our door.
#TimkenIndia
#TechnoFunda
#Fibonalysis
Let's have a look at another gem of a company. Albeit costly as on date. No harm in trying to understand why it stands out and should be part of Portfolio whenever opportunity knocks our door.
1/n
Timken India Limited (TIL) is primarily into manufacture and distribution of tapered roller bearings, components and accessories for the automotive sector and the railway industry. It also provides maintenance contract services and refurbishment services.
Timken India Limited (TIL) is primarily into manufacture and distribution of tapered roller bearings, components and accessories for the automotive sector and the railway industry. It also provides maintenance contract services and refurbishment services.
2/n
The companys primary bearing and components manufacturing plant is located at Jamshedpur in Jharkhand. It also has a gearbox repairing facility at Raipur, where it provides repair and maintenance services of industrial gearboxes.
The companys primary bearing and components manufacturing plant is located at Jamshedpur in Jharkhand. It also has a gearbox repairing facility at Raipur, where it provides repair and maintenance services of industrial gearboxes.
3/n
Over the years, capacity has been doubled at Jamshedpur plant, which has become a global center of excellence for Rail mobility serving to The Timken Company (ultimate parent company) and its affiliates, globally.
Over the years, capacity has been doubled at Jamshedpur plant, which has become a global center of excellence for Rail mobility serving to The Timken Company (ultimate parent company) and its affiliates, globally.
4/n
Business activities of the company: Bearings & Components & Accessories: 94.82%
Timken India Markets:
Defense, Mining, Metals, Civil Aerospace, Commercial Vehicles, Agriculture, Energy, Rail, Automotive, Construction, Outdoor Power Equipment, Industrial Equipment & Machinery
Business activities of the company: Bearings & Components & Accessories: 94.82%
Timken India Markets:
Defense, Mining, Metals, Civil Aerospace, Commercial Vehicles, Agriculture, Energy, Rail, Automotive, Construction, Outdoor Power Equipment, Industrial Equipment & Machinery
5/n
The estimated consumption of anti-friction bearings in India is about 9500-10500 cr
While demand for bearings is directly influenced by industrial and manufacturing activity in India, export markets provide additional opportunity for Indian anti-friction bearing manufacturers
The estimated consumption of anti-friction bearings in India is about 9500-10500 cr
While demand for bearings is directly influenced by industrial and manufacturing activity in India, export markets provide additional opportunity for Indian anti-friction bearing manufacturers
6/n
At the same time, Indian demand for anti-friction bearings is also met through imports. Significant part of domestic bearing production caters to automotive industry and Indian Railways.
Bearings for core sector is largely met through imports.
At the same time, Indian demand for anti-friction bearings is also met through imports. Significant part of domestic bearing production caters to automotive industry and Indian Railways.
Bearings for core sector is largely met through imports.
7/n
Timken India Limited (TIL) actively operates in Indian anti-friction bearings, mechanical power transmission products and related services business.
Company has state-of-the-art tapered roller bearing manufacturing plants in Jamshedpur and Bharuch.
Timken India Limited (TIL) actively operates in Indian anti-friction bearings, mechanical power transmission products and related services business.
Company has state-of-the-art tapered roller bearing manufacturing plants in Jamshedpur and Bharuch.
8/n
Bharuch also has manufacturing footprint for Cylindrical Roller Bearings, Spherical Roller Bearings and Slewing Bearings. With deep knowledge of metallurgy, tribology and mechanical systems, it closely works with OEMs to design and develop solutions as per application need.
Bharuch also has manufacturing footprint for Cylindrical Roller Bearings, Spherical Roller Bearings and Slewing Bearings. With deep knowledge of metallurgy, tribology and mechanical systems, it closely works with OEMs to design and develop solutions as per application need.
9/n
With about 50+ Industrial and 100+ Automotive channel partners, the Company reaches out to end-markets for its product & services and helps customers to improve reliability and efficiency of equipment, machinery and vehicles.
With about 50+ Industrial and 100+ Automotive channel partners, the Company reaches out to end-markets for its product & services and helps customers to improve reliability and efficiency of equipment, machinery and vehicles.
10/n
In the year 2019-20, your Company grew steadily in Indian Rail, Wind Energy and Industrial segments.
The Directors of the Company do not propose to transfer any amount to reserves during the financial year under review.
In the year 2019-20, your Company grew steadily in Indian Rail, Wind Energy and Industrial segments.
The Directors of the Company do not propose to transfer any amount to reserves during the financial year under review.
11/n
The Company continues to remain debt-free, driven by effective working capital management and well-executed capital expenditure programs, primarily for capacity increases and maintenance, which were financed entirely from internal accruals.
The Company continues to remain debt-free, driven by effective working capital management and well-executed capital expenditure programs, primarily for capacity increases and maintenance, which were financed entirely from internal accruals.
12/n
The number of permanent employees on the rolls of company: 1269 as on 31 March, 2020 (including Union & Salaried Operators)
The percentage increase in remuneration of each director, CFO, CEO, Company Secretary or Manager, if any, in the financial year: 10% - 12%
The number of permanent employees on the rolls of company: 1269 as on 31 March, 2020 (including Union & Salaried Operators)
The percentage increase in remuneration of each director, CFO, CEO, Company Secretary or Manager, if any, in the financial year: 10% - 12%
13/n
Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year: 7.94%
Current Ratio: YoY: +29%
Current Liabilities: YoY: -8%
Average percentile increase already made in the salaries of employees other than the managerial personnel in the last financial year: 7.94%
Current Ratio: YoY: +29%
Current Liabilities: YoY: -8%
14/n
Company provides complete offering in mechanical drive train like belts, industrial chains & augurs, couplings, clutches lubrication systems and housed units.
Upgrades of Rail network, introducing new range of locomotives & faster travels creates new growth opportunities.
Company provides complete offering in mechanical drive train like belts, industrial chains & augurs, couplings, clutches lubrication systems and housed units.
Upgrades of Rail network, introducing new range of locomotives & faster travels creates new growth opportunities.
15/n
Make in India, an initiative by Government of India aims to increase share of manufacturing in the country's Gross Domestic Product to 25% by year 2025, which will provide great opportunity for the manufacturing sector.
Make in India, an initiative by Government of India aims to increase share of manufacturing in the country's Gross Domestic Product to 25% by year 2025, which will provide great opportunity for the manufacturing sector.
16/n
For Medium and Heavy Commercial Vehicles, the lever depends on implementation of BS-VI compliant vehicles and how early can the OEMs catch-up with the requirements.
For Medium and Heavy Commercial Vehicles, the lever depends on implementation of BS-VI compliant vehicles and how early can the OEMs catch-up with the requirements.
17/n
Property, plant and equipment net of depreciation: YoY: +33.4 cr (addition of plant & equipment at our manufacturing operations).
Capital work in progress: YoY: +93.0 cr (various expansion projects in process in both the manufacturing plants).
Property, plant and equipment net of depreciation: YoY: +33.4 cr (addition of plant & equipment at our manufacturing operations).
Capital work in progress: YoY: +93.0 cr (various expansion projects in process in both the manufacturing plants).
18/n
Consolidated numbers YoY
Revenue from Ops: 1640.47 cr vs 1680.70 cr -3%
Gross Profit: 1154.18 cr vs 1087.40 cr +6.14%
Operating Income: 286.39 cr vs 209.31 cr +37%
EBITDA: 363.25 cr vs 288.64 cr +25.85%
PBT: 306.36 cr vs 223.82 cr +37%
PAT: 246.10 cr vs 148.64 cr +65.56%
Consolidated numbers YoY
Revenue from Ops: 1640.47 cr vs 1680.70 cr -3%
Gross Profit: 1154.18 cr vs 1087.40 cr +6.14%
Operating Income: 286.39 cr vs 209.31 cr +37%
EBITDA: 363.25 cr vs 288.64 cr +25.85%
PBT: 306.36 cr vs 223.82 cr +37%
PAT: 246.10 cr vs 148.64 cr +65.56%
19/n
Can't expect company to outperform or match FY20 numbers. Company has always commanded a premium tag over peers due to MNC parentage & efficient process driven operations. We need to wait patiently and grab any opportunity that comes in our way.
Can't expect company to outperform or match FY20 numbers. Company has always commanded a premium tag over peers due to MNC parentage & efficient process driven operations. We need to wait patiently and grab any opportunity that comes in our way.
20/n
Attached Technical chart gives a perspective of stock outlook based on trend and patterns.
Chart is for educational purpose.
Request to consult expert advise in case required.
Attached Technical chart gives a perspective of stock outlook based on trend and patterns.
Chart is for educational purpose.
Request to consult expert advise in case required.
