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Timken India Ltd.

BSE: 522113 Sector: Engineering
NSE: TIMKEN ISIN Code: INE325A01013
BSE 00:00 | 20 Mar 579.60 9.45
(1.66%)
OPEN

573.65

HIGH

584.70

LOW

572.00

NSE 00:00 | 20 Mar 583.20 11.80
(2.07%)
OPEN

577.10

HIGH

585.00

LOW

573.85

OPEN 573.65
PREVIOUS CLOSE 570.15
VOLUME 996
52-Week high 812.00
52-Week low 495.85
P/E 37.49
Mkt Cap.(Rs cr) 4,360
Buy Price 579.60
Buy Qty 10.00
Sell Price 594.00
Sell Qty 1.00
OPEN 573.65
CLOSE 570.15
VOLUME 996
52-Week high 812.00
52-Week low 495.85
P/E 37.49
Mkt Cap.(Rs cr) 4,360
Buy Price 579.60
Buy Qty 10.00
Sell Price 594.00
Sell Qty 1.00

Timken India Ltd. (TIMKEN) - Company History

Timken India Limited (TIL) (previously known as Tata Timken) 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. The company's primary bearing and components manufacturing plant is located at Jamshedpur in Jharkhand. It also has a gear box repairing facility at Raipur where it provides repair and maintenance services of industrial gear boxes.The company was incorporated on 15 June 1987 under the provisions of the erstwhile Company's Act 1956. It came with a rights issue in Feb.'94 to part-finance the overrun in the project cost. The company received the ISO 9002 certification. The company achieved certification from American Association of Railroad (AAR). To extend the product range the company embarked upon a small bearings project for Rs 16 cr to manufacture TRBs with a bore size of 35mm and less which has been completed within the budgeted cost in fiscal 2001. During the fiscal it introduced a new concept in technical problem solving and roll shop management drawing heavily from the expertise in its steel rolling mill as well as its strong base of knowledge in bearing. The service envisages round the clock management of customer's roll shop and the associated chock and bearing maintenance. It is also pursuing new business activities that enhance the value adding propositions of the company's existing businesses.During the year 2001-02 The Company had shut down 2 plants (in UK and USA) and as a part of the products of those plants has been transferred permanently to Timken India. This will result in an important growth of manufacturing volumes of Jemshedpur plant.TIL has completed the acquisition of The Torrington company in 2002. This acquisition offers a fit and will bring a broader line of engineered products and services. During the year 2004 the company undertook an expansion project of installing a new 8' cone line. This new line is expected to produce a little over five lacs tapered single cones annually necessitating an approximate investment of Rs.1.65 Crores. It also has undertaken a new project for manufacture of double extended cones for the purpose of export to US. This double extended cone project envisages an investment of Rs 10.50 Crores. This project is expected to be completed by the end of the first quarter of 2007. TIL continued to drive Lean Six Sigma Projects across all parts of its operations and business processes. In 2004 TIL was awarded a special award for excellence in Lean Six Sigma at the Indian Manufacturing Excellence Awards (IMEA) announced by Frost & Sullivan.During the year 2004 the installed capacity of AP Cartridge Tapered Roller Bearings units including components and accessories has been increased by 45000 Nos. Due to this expansion the installed capacity of AP Cartridge Tapered Roller Bearings unit including components and accessories is 150000 Nos for this year.In 2006 the company undertook an expansion project of installing large size cup line. This new line was installed and commercial production started on May 15 2006. The actual investment for this project was around Rs 4.50 Crores.In FY 2008 the company acquired two strategic services' contracts in steel industry. During FY 2015 the company fully commenced its operation of Industrial Service plant in Raipur Chhattisgarh and completed its Roller expansion project at a cost of Rs. 163 Million. During FY 2018 the Board of Directors of the Company at its meeting held on 4 July 2017 approved a Scheme of Amalgamation and Arrangement between ABC Bearings Limited and Timken India Limited and their respective shareholders and creditors. Subsequently pursuant to an Order of the National Company Law Tribunal (NCLT) Bengaluru Bench meetings of the shareholders and creditors were held on 1 February 2018. At the said meetings the proposed Scheme was approved by the shareholders and creditors and thereafter the Company has received approval of NCLT Bengaluru Bench.