Timken India manufactures tapered, spherical and cylindrical roller bearings and power-transmission products for rail, process industries, mobile off-highway equipment and distribution channels. This quarter's print will speak to the Bharuch plant ramp toward 70% SRB utilisation and whether the remaining 90% of steel price-hike pass-through gets collected against a fresh spike in steel costs.
| Results date | October 29, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 943.32 Cr (consolidated, Q1 FY27) |
| Previous quarter PAT | Rs. 119.66 Cr (consolidated, Q1 FY27) |
| Market cap | Rs. 20,535.47 Cr |
| CMP | Rs. 2,730.1 |
Under Regulation 29 of SEBI (LODR) Regulations, 2015, the Board will meet Thursday, October 29, 2026, to consider and approve financial results for the quarter and half year ended September 30, 2026.
A post-results conference call for Q2 FY27 is scheduled Friday, October 30, 2026, at 4:00 PM IST, arranged by Avendus Spark (Spark Institutional Equities Private Limited), with DiamondPass confirmation number 1089309. Mr. Sanjay Koul (Chairman & Managing Director) and Mr. Sujit Kumar Pattanaik (CFO & Whole-time Director) will represent the management.
The Q2 FY27 print tests a guided path on four counts: Bharuch SRB utilisation of 70% by August/September from 40-45% in Q1, the CRB ramp towards Q2 end/Q3, full collection of the remaining 90% of price-hike realisation roughly by Q2 FY27, and Jamshedpur rail plant production by November/December 2026. Demand proxies pointed up through the quarter — July 2026 capital goods output grew 16.1% YoY and Q2 domestic commercial vehicle volumes rose 28.7% YoY — supporting the mobile, distribution and process legs against a Q2 FY26 rail base of Rs. 178.2 crores. The margin story is a race between cost and recovery: domestic steel hit a four-year high (Mumbai HRC at Rs. 63,900/t in the week ended September 18) on top of the ~Rs. 5,000/ton cumulative increases already flagged, while the gross-margin test is defending the 39.9% Q1 FY27 level as pass-through lands. Below gross margin, known drags persist — Bharuch ramp fixed costs (~170 bps PBT impact when last quantified) plus Rs. 9-10 crores per quarter of incremental depreciation on the Rs. 750 crores capitalisation — against a Q1 standalone PBT margin of 16.18% and a management path toward 17-18% that remains open-ended. Rail remains the swing factor, with management having flagged delayed tenders and possible fund diversion to defence, while the GGB amalgamation awaits final NCLT approval after the first-motion application was accepted on July 24, 2026.
Performance vs Guidance Tracking: Management's stated targets and where each stands heading into the Q2 FY27 call:
Bharuch ramp scorecard
Rail revenue and tender flow
GGB amalgamation and portfolio actions
Gross margin vs steel inflation
Management said the peak 'won't be INR 1,000 crores', pointing to machinery investment of Rs. 310-320 crores (total project cost Rs. 720 crores) at around 2x asset turns. Bharuch generated roughly Rs. 50 crore of revenue in Q1 FY27 and Rs. 80 crores in FY26.
Management guided to capex of 8-10% of sales/revenue for FY27, consistent with roughly 8.5% of revenue spent historically across FY25-FY26. The CFO noted there may be timing spillover between financial years but said projects are 'almost on track'.
Management framed the recovery toward the 17-18% range as dependent on the speed of the Bharuch ramp-up, execution and PPAP speed, and external acceleration such as trade agreements. It is open-ended guidance with no specific date attached.
Yes — consolidated revenue rose 14.73% YoY to Rs. 943.32 Cr in Q1 FY27, with standalone revenue up 14.87% YoY to Rs. 929.09 Cr. Growth was driven by process industries up ~30% YoY on metal customers and wind energy, though the company noted sequential moderation versus Q4 FY26.
The Board approved the Scheme of Amalgamation of Timken GGB Technology Private Limited with Timken India on May 18, 2026, effective April 1, 2026, and it was filed with the NCLT Bangalore Bench in June 2026. NCLT accepted the first-motion application on July 24, 2026, with the second motion application in process and final tribunal approval pending.