Quarterly Result: Timken India Ltd
Bhagyashree Vivarekar / 28 Nov 2016
Timken India Ltd., ended at Rs. 553.45, up by 13.55 points or 2.51% from its earlier closing of Rs. 539.9 on the BSE.The company's net profit has ballooned by 41.1% yoy to Rs 29.86 cr.
Technical View:
Timken India Ltd., ended at Rs. 553.45, up by 13.55 points or 2.51% from its earlier closing of Rs. 539.9 on the BSE.
The scrip touched a high and low of Rs. 558.25 and Rs. 539.85 respectively, after opening at 539.85. Altogether 16170(NSE+BSE) shares have been traded on the counter so far; and the stock is trading above its 100 DMA.
Standalone Results Q2FY17:
Bloomberg estimates have been beaten by Timken India Ltd’s Q2FY17 standalone numbers. Revenue for the period has come in 2.6% above estimate of Rs 289 cr. Net profit for the period has come in 14.4% higher than the estimate of Rs 26 cr.
The quarter's revenue has grown by 7.3% yoy to 296.75 cr.
Timken's EBITDA has widened by 33.7% yoy to Rs 47.54 cr while EBITDA margins have improved 317 bps yoy to 16%, triggered by 26% decline in cost of material consumed and operational efficiencies.
The company's net profit has ballooned by 41.1% yoy to Rs 29.86 cr. Company has seen its effective tax rate deplete from 34% in Q2FY16 to 29% in Q2FY17 which has boosted bottom-line.
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