Q4 2024 Timken India Ltd Earnings Call Transcript
Key Points
- Timken India Ltd (BOM:522113) reported a record quarterly revenue of INR898 crores, up double digits from the same period last year.
- The domestic rail market is performing robustly, driven by increased wagon manufacturing and projects like Vande Bharat.
- The company is working on a new plant, which is progressing as planned and expected to start production by the end of the year.
- The process industry segment, including steel, cement, and power, is seeing healthy improvement and is expected to continue growing.
- The company has a strong order book for the next 15 months, providing good visibility and stability in revenue.
- Exports were down and are expected to remain soft in the short to medium term, particularly in the heavy truck market.
- The heavy truck market in both domestic and international segments is not performing well and is expected to remain sluggish.
- The company faces challenges due to the upcoming elections, which add uncertainty to the market.
- The export contribution to total revenue has decreased significantly, from over 30%-35% to 14% in the current quarter.
- There is no immediate timeline for expanding into new product segments like couplings, chains, and belts, despite the potential market.
Ladies and gentlemen, good day and welcome to Timken India Limited Q4 FY24 earnings conference call hosted by Avendus Spark. This conference call may contain forward-looking statements about the company, which are based on the beliefs, opinions and expectations of the company as on date of this call. These statements are not the guarantees of future performance and involve risks and uncertainties that are difficult to predict. (Operator Instructions) I now hand the conference over to Mr. Ram Seshan from Avendus Spark. Thank you and over to you, sir.
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Hi, guys. Good evening. This is Ram from Spark Capital. Appreciate everybody logging in. Very pleased to be hosting Mr. Sanjay Koul, Chairman and Managing Director of Timken India, along with Mr. Avishrant Keshava, CFO, to discuss the 4Q results. We'll start with brief opening remarks from Mr. Koul, followed by a Q&A session. Mr. Koul, all yours.
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