Timken India

Feb 4 (Reuters) - Timken India Ltd TIMK.NS:

• TIMKEN INDIA DEC-QUARTER CONSOL NET PAT 545.6 MILLION RUPEES

• TIMKEN INDIA DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 7.8 BILLION RUPEES

Source text: ID:nBSE7vyFlk

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** Industrial machinery manufacturer Timken India TIMK.NS up 3% to 3034.5 rupees after Q4 results

** Co's Q4 profit rises 32.1% y/y, on higher sales

** Revenue rises 4.4% y/y

** With session's gains, stock trims 12 month decline to 26.4%

(Reporting by Ananta Agarwal in Bengaluru)

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April 9 (Reuters) - Timken India Ltd TIMK.NS:

• COMMERCIAL PRODUCTION AT BHARUCH PLANT EXPECTED TO START IN Q1 2025-26

Source text: ID:nBSE5pY0Fc

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March 13 (Reuters) - Timken India Ltd TIMK.NS:

• TIMKEN INDIA LTD - TO ENHANCE CAPACITY AT JAMSHEDPUR

• TIMKEN INDIA LTD - INVESTMENT OF APPROX. 1.20 BILLION RUPEES

• TIMKEN INDIA LTD - CAPACITY FOR CUP AND CONE FOR RAIL BEARINGS TO INCREASE BY 20%

Source text: ID:nBSE8rscCs

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Feb 5 (Reuters) - Timken India Ltd TIMK.NS:

• TIMKEN INDIA DEC-QUARTER NET PAT 743 MILLION RUPEES

• TIMKEN INDIA DEC-QUARTER REVENUE FROM OPERATIONS 6.71 BILLION RUPEES

Source text: ID:nNSE1ylZVz

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Nov 5 (Reuters) - Timken India Ltd TIMK.NS:

• SEPT-QUARTER NET PAT 899.5 MILLION RUPEES

• SEPT-QUARTER REVENUE FROM OPERATIONS 7.53 BILLION RUPEES

Source text: ID:nBSE82XDB8

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Oct 30 (Reuters) - Timken India Ltd TIMK.NS:

• TIMKEN INDIA- GETS TAX ORDER OF 81.9 MILLION RUPEES WITH INTEREST, PENALTY OF 81.9 MILLION RUPEES

Source text: ID:nBSE5FG5NR

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** Shares of automotive and industrial component supplier Schaeffler India SCHE.NS up 4.3% at 4,065 rupees

** Co on Tuesday reported a 12.3% rise in Q1 profit and a 12% jump in sales

** Five of 9 analysts rate stock at "buy" or above, three "hold", and one as "sell"; stock "buy" rated with media PT at 3,525 rupees - LSEG

** Schaeffler India stock up ~22% YTD, while rival Timken India TIMK.NS has gained 23%

(Reporting by Sethuraman NR in Bengaluru)

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** Shares of Timken India TIMK.NS up 5.8% to 223.50 rupees

** Timken Singapore was likely to sell about 6.6% stake in company via block deals at a deal worth $213 mln, CNBC-TV18 reported on Monday

** About 5 mln shares of bearing maker changed hands as per BSE data, but details about buyers and sellers were not available

** Timken did not immediately respond to Reuters inquiry regarding share sale by parent

** TIMK shares up 28% YTD vs 10.4% gains in S&P BSE 500 index .BSE500

(Reporting by Sethuraman NR in Bengaluru)

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** Shares of Timken India TIMK.NS up as much as 6.7% to 3,578 rupees; last up 2.8%

** The bearings and power transmission products maker reported a 35.3% Y/Y rise in its March-qtr net PAT to 1.41 bln rupees (about $17 mln)

** Revenue from operations rose about 12% Y/Y

** More than 534,000 shares change hands as of 2:26 p.m. IST, 5.9x 30-day average

** Average rating of six analysts covering the stock is "hold"; median PT is 2,982 rupees - LSEG data

** Stock on track to snap two straight session of losses, if trend holds

** Including session's gain, the stock is up 6% YTD, smaller than its rival bearings maker, Schaeffler India SCHE.NS, which is up 19%

($1 = 83.4905 Indian rupees)

(Reporting by Navamya Ganesh Acharya in Bengaluru)

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** Kotak Institutional Equities upgrades Indian bearing makers Schaeffler India SCHE.NS, SKF India SKFB.NS, Timken India TIMK.NS to "add" from "sell"

** Upgrade on the back of 15%-20% decline in stock prices over past three months, expectations of recovery in export, domestic railways and aftermarket segments from second half of CY24

** Says, strong growth in railways segment, demand recovery in industrial segments, inventory correction by end-consumers to lead export market demand recovery

** Domestic railway market well-positioned to benefit over next three years led by higher govt capex spends - Kotak

** Says, replacement segment to be growth driver on shift from counterfeit bearings to branded bearings, product expansion

** SCHE and TIMK posted Dec-qtr profit drops, while SKFB's profit rose 1.4% Y/Y

** SKFB rated "buy" on avg, SCHE and TIMK rated "hold" - LSEG data

** Shares of SCHE, TIMK, and SKFB up between 1.2% and 2% on Thursday

(Reporting by Varun Vyas in Bengaluru)

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BENGALURU, Feb 16 (Reuters) - Auto components maker Schaeffler India SCHE.NS reported a nearly 6% fall in fourth-quarter profit on Friday, as expenses rose.

The drop in bottomline of the bearings company mirrors smaller peer Timken India's TIMK.NS drop in quarterly profit.

Schaeffler India's profit was 2.17 billion rupees (about $26 million) for the quarter ended Dec. 31, compared with 2.31 billion rupees a year earlier. This was its first profit decline after 13 quarters of growth.

Its automotive technologies division, which develops precision products for passenger and commercial vehicles, and accounts for a bulk of the revenue, rose 9.3%.

The company's raw material costs jumped 15.2% amid higher prices of some metals, including steel, leading to a 5.4% rise in total expenses.

Revenue grew 3.4% to 18.55 billion rupees, the slowest in 14 quarters, according to LSEG data. The company's revenue growth has been slowing over the last few quarters.

It recommended a dividend of 26 rupees per share for the year ended Dec. 31, 2023.

Shares of Schaeffler India closed 1.4% higher ahead of the results.

($1 = 82.9840 Indian rupees)

(Reporting by Yagnoseni Das in Bengaluru; Editing by Mrigank Dhaniwala)

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** Shares of bearings maker Timken India TIMK.NS down 3.6% at 3,084.4 rupees after Q3 profit drops 4.3% YoY

** Set for worst day since Aug. 14, 2023, if trend holds

** Stock at lowest price since Dec. 6, 2023

** On avg, analysts' rating on stock is "hold", rival bearings maker Schaeffler India SCHE.NS also rated "hold"; TIMK'S avg PT is 3,046 rupees - LSEG data

** SCHE to report Q3 results next week

(Reporting by Varun Vyas in Bengaluru)

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Feb 6 (Reuters) - Timken India Ltd TIMK.NS:

• DEC-QUARTER NET PAT 675.3 MILLION RUPEES VERSUS 705.6 MILLION RUPEES YEAR AGO

• DEC-QUARTER REVENUE FROM OPERATIONS 6.12 BILLION RUPEES VERSUS 6.09 BILLION RUPEES YEAR AGO

Source text for Eikon: ID:nBSE8HSxw0

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Nov 10 (Reuters) - Timken India Ltd TIMK.NS:

• TIMKEN INDIA LTD SEPT-QUARTER NET PAT 930.5 MILLION RUPEES VERSUS 977 MILLION RUPEES

• TIMKEN INDIA LTD SEPT-QUARTER REVENUE FROM OPERATIONS 6.82 BILLION RUPEES VERSUS 6.95 BILLION RUPEES

Source text for Eikon: ID:nBSE8Tb1ts

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Oct 11 (Reuters) - Timken India Ltd TIMK.NS:

• JAMSHEDPUR PLANT OPERATIONS WILL BE TRIMMED DOWN FROM 19 OCTOBER, 2023 TO 24 OCTOBER, 2023

• JAMSHEDPUR PLANT OPERATIONS WILL BE TRIMMED ON ACCOUNT OF PHYSICAL VERIFICATION OF INVENTORY AND DURGA POOJA FESTIVAL

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July 17 (Reuters) - Timken India Ltd TIMK.NS:

• TS AND ROLLER LINES AT JAMSHEDPUR PLANT TO BE CLOSED FOR SCHEDULED MAINTENANCE ACTIVITIES FROM JULY 24-29

• OTHER LINES AT JAMSHEDPUR PLANT WOULD CONTINUE TO OPERATE AS USUAL

Source text for Eikon: ID:nBSE7J7kxw

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June 21 (Reuters) - Timken India Ltd TIMK.NS:

• TIMKEN SINGAPORE PTE CUTS STAKE IN CO FROM 67.80% TO 57.70%

Source text for Eikon: ID:nBSEbMb9LP

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** Shares of Indian bearings and power transmission products maker Timken India TIMK.NS fall as much as 10.2% to 3,134.15 rupees, biggest intraday pct drop since Feb 2021

** About 1.4 mln shares changed hands in multiple block deals at range 3,138 rupees to 3,206.1 rupees, as per Refinitiv data

** Singapore-based parent of Timken India proposed to sell 8.4% stake for up to $231 mln to institutional investors, Reuters reported Monday

** Timken Singapore owned a 67.8% stake in TIMK as of March 31, according to exchange data

** Overall, 3.3 mln shares change hands as of 10:15 a.m IST, 69x 30-day avg

** TIMK shares up 3.7% YTD after gaining 56.1% last year

(Reporting by Nallur Sethuraman in Bengaluru)

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Adds details from term sheet, background throughout

By Scott Murdoch

HONG KONG, June 19 (Reuters) - The Singapore-based parent of Timken India TIMK.NS has proposed to sell an 8.4% stake in the Indian bearings and power transmission products maker for up to $231 million on June 20, according to the term sheet of the deal, seen by Reuters.

The floor price of the stake sale to institutional investors by Timken Singapore is set at 3,000 rupees a share, a 14% discount to Monday's closing level. BofA Securities is the sole bookrunner for the stake sale.

Timken Singapore owned a 67.8% stake in the Indian unit as of March 31, according to exchange data.

Shares of Timken India have risen over 12% so far this year.

(Reporting by Varun Vyas in Bengaluru and Scott Murdoch in Hong Kong; Editing by Nivedita Bhattacharjee)

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May 17 (Reuters) - Timken India Ltd TIMK.NS:

• TIMKEN INDIA LTD MARCH-QUARTER NET PAT 1.05 BILLION RUPEES VERSUS 1.21 BILLION RUPEES

• TIMKEN INDIA LTD MARCH-QUARTER REVENUE FROM OPERATIONS 8.03 BILLION RUPEES VERSUS 6.67 BILLION RUPEES

• TIMKEN INDIA LTD - RECOMMENDED DIVIDEND OF RUPEES 1.5 PER SHARE

Source text for Eikon: ID:nBSE3VWVXL

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