TIMKEN INDIA LTD
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BSE Code:
522113
NSE Code:
TIMKEN
Business Profile
Business Profile
Timken India was incorporated in 1987 as Tata Timken, a joint venture between Timken Company, USA and Tata Iron and Steel Company. The company is engaged primarily in the production, export and sale of antifriction bearings, components and related parts. It also acts as an import agent and sales representative for products manufactured by the Timken Company. The company`s registered office is situated at Jamshedpur, India. It exports its products primarily to the United States.
Timken India uses cellular manufacturing for plant flexibility. The company manufactures a wide range of bearings for key applications in heavy, medium and light commercial vehicles. Its tapered roller bearings have applications in industries like windmills, rolling mills, gear boxes, material handling equipment, mining and heavy engineering. It also supplies customised bearings to manufacturers of off-highway and heavy earth moving equipment. Timken has also been serving the Indian Railways for the past 50 years and it supplied the first indigenously assembled cartridge tapered roller bearing (CTRB) to the Indian railways in 1991. It develops specific solutions for railways` rolling stock and has found favour with the Delhi Metro and Shatabdi trains. Apart from manufacturing bearings, the company is also engaged in bearing repairs and refurbishment and the manufacture of induction heaters, lubricants, greases, oil seals and other related products.
Financials
Timken India registered a 17.76% sharp drop in net profits of Rs 91.2 million for the quarter ended in September 2007 from a profit of Rs 110.9 million for the quarter ended in September.
Net Sales declined 0.65% to Rs 831.2 million for the quarter ended September 2007 from Rs 836.7 million for the quarter ended September 2006.
Total income dipped 1.12% to Rs 846.5 million, from Rs 856.1 million for the quarter ended September 2006.
The diluted earnings per share (EPS) of the company stood at Rs 1.43 in the quarter ended September 2007.
Recent Developments
09-JUN-07
Timken India has bagged a contract worth $6.5 million from Titagarh Wagons to supply bearings for freight cars.
Future Plans
Due to falling import duties, competition from international companies and rising steel prices, Timken intends to reduce costs in order to increase margins in the domestic market. Current capacity utilization levels are at 50%. More than 40% of the revenues come from exports.