Timken India gallops after Q4 PAT spurts 129% YoY

Timken India spurted 10.57% to Rs 2172 after the company's net profit surged 128.87% to Rs 121.30 crore on 40.39% rise in net sales to Rs 667.40 crore in Q4 March 2022 over Q4 March 2021.

Profit before tax surged 115.53% year-on-year to Rs 161 crore in Q4 March 2022. Total expense rose 25.51% to Rs 487.60 crore. Cost of material consumed rose 36.63% to Rs 197.30 crore while employee benefits expenses rose 10.64% to Rs 36.40 crore.

For the full year, net profit rose 128.42% to Rs 327.10 crore on 56.20% increase in net sales to Rs 2203.20 crore in the year ended March 2022 over the year ended March 2021.

The board has recommended dividend of Rs 1.5 per equity share for the year ended 31 March 2022.

The company reported an operating cash flow (OCF) of Rs 32.90 crore in the year ended 31 March 2022, lower than OCF of Rs 188.70 crore in the year ended March 2021.

Separately, the company's board approved re-appointment of Sanjay Koul as managing director; appointment of George J Ollapally as an additional and independent director; appointment of Veerappan V as an additional and independent director; and appointment of Hansal Patel as an additional director of the company.

Timken India offers friction management solutions that maximize performance, fuel-efficiency and equipment life. It makes engineered bearings and allied goods & services.

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