Timken India Q4 FY26: Profit Drops, Revenue ₹1,090 Cr

Key takeaway

Timken India reported a sharp year-on-year decline in consolidated profit for Q4 FY26 even as revenue rose at a double-digit pace, and the stock was up about 3% on the day.

What the market saw in the stock

Following the results, Timken India shares were reported higher by around 3%.

The stock’s broader recent moves were also cited as: -2.24% (weekly), 0.90% (monthly), and 11.87% (quarterly).

Q4 FY26 numbers: revenue up, profit down

For the quarter ended March 2026 (Q4 FY26), Timken India reported a 16.8% fall in consolidated net profit to ₹158.31 crore.

The profit decline came despite a 14.5% increase in revenue to ₹1,089.83 crore in Q4 FY26 compared with Q4 FY25. The company’s total operating expenses for the quarter were ₹848.05 crore, up 15% year-on-year.

On the pre-tax line, the company reported profit before tax (PBT) of ₹212.03 crore in Q4 FY26, up 2.8% from ₹206.22 crore in Q4 FY25.

Tax outgo was a major swing factor

A key element highlighted in the reported numbers was the rise in taxes.

• Current tax for the March 2026 quarter was ₹49.77 crore, up 217% year-on-year.
• Deferred tax charge was ₹3.96 crore in Q4 FY26 versus ₹0.21 crore in Q4 FY25.

With PBT rising modestly but tax expenses moving sharply higher, the quarterly net profit came under pressure.

Management commentary: crossing ₹1,000 crore quarterly revenue

Management commentary accompanying the numbers pointed to steady demand and execution, but also flagged cost pressure.

Timken India said its Q4 performance remained “resilient” despite uncertainty and significant cost pressures, while it continued investments. It also flagged a milestone: crossing ₹1,000 crore of quarterly revenue for the first time.

In the same commentary, revenue from operations (standalone) for the quarter was stated at ₹1,073.1 crore (₹10,731 million), reflecting 14.2% growth over the same period last year.

Margin pressure and price pass-through lag

The company’s management analysis pointed to raw material inflation and the lag in passing price hikes through to OEM customers.

A key data point cited was that only about 10% of the price pass-through had been achieved, with around 90% still pending. The update also described pricing power as moderate, with ongoing negotiations aimed at recovering sharp raw material increases.

Profitability metrics mentioned in the commentary included a standalone Q4 PBT of ₹207.4 crore (₹2,074 million) and a PBT margin of 19.3%.

Full-year FY26: revenue growth, profit decline

For FY26, Timken India reported:

• Net profit of ₹414.89 crore, down 10.2% year-on-year
• Revenue from operations of ₹3,478.03 crore, up 21.3% year-on-year

In addition, management commentary noted all-time highest standalone revenue of ₹3,147.8 crore (₹31,478 million), representing 8.6% growth over last year. Standalone PBT was ₹530.4 crore (₹5,304 million), with PBT margin at 15.5%.

The update also stated cash generated from operations of ₹437.4 crore (₹4,374 million) and capital spend of ₹297.2 crore (₹2,972 million), described as 8.7% of revenue.

Demand mix: industrial, exports and rail

Management described Q4 revenue growth as driven by strong demand in the core industrial segment, supported by execution on projects, and momentum in domestic and export markets.

The management analysis also noted:

• Volume-led growth in industrial and export segments
• Rail grew significantly quarter-on-quarter
• Exports jumped 66% for the full year

No absolute export or rail revenue numbers were provided alongside these growth indicators.

Capacity expansion: Bharuch and Jamshedpur timelines

The company’s management analysis flagged execution risk in expansion projects, but also provided operational targets.

• The new Bharuch plant is targeting 70% utilisation by July 2026.
• The rail expansion in Jamshedpur is stated to be on track for production in December 2026.

The update also mentioned over 100 new part introductions underway at the Bharuch plant.

What analysts had expected ahead of the print

Ahead of the Q4 FY26 results, brokerages including MOFSL, YES Securities, and JM Financial were cited as publishing preview estimates.

The consensus range cited was:

• Revenue: ₹950 crore to ₹1,020 crore
• PAT: ₹130 crore to ₹150 crore
• Margins: 15% to 16%

Against this backdrop, the reported Q4 revenue of ₹1,089.83 crore and PAT of ₹158.31 crore were above the preview ranges cited in the text.

Summary table: key disclosed financial metrics

Why this result matters

The quarter showed a clear split between top-line momentum and bottom-line pressure. Revenue growth remained strong, supported by industrial demand and exports, but higher input costs and a sharp increase in the tax outgo weighed on net profit.

The commentary around price pass-through is also important for investors tracking margins, since management indicated that only a small portion of cost inflation has been recovered so far. Separately, the timelines given for Bharuch and Jamshedpur provide near-term checkpoints on capex execution.

Conclusion

Timken India’s Q4 FY26 results underscored resilient demand and a revenue milestone, while profitability was hit by inflation and a higher tax bill. The next key updates will be progress on price negotiations with OEMs and the stated ramp-up milestones at Bharuch (July 2026) and Jamshedpur (December 2026).