On Monday, Timken India Ltd surged 14 per cent to Rs 2,240 on the Bombay Stock Exchange (BSE), with profit after tax being more than twice Rs 12.13 crore in the fourth quarter (Q4FY22). All company has engaged and has posted a profit of Rs 5.30 crore in 2021. In the third quarter the profit of Rs 6.98 crore. The company’s revenue is 40.4 per cent YOY and 30.9 per cent on a quarter on quarter on quarter basis. The company has registered an EBIDTA margin of 26.9 per cent vs 18.3 per cent on YOY and 22.4 per cent QOQ due to the highest gross margin to lower employee costs and other expenses.

Timken’s active operations include anti-friction bearings, mechanical power transmission products, and related services business.

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“Timken posted a stellar set of numbers for Q4FY22 primarily led by growth in the industrial segment. Improved gross margins were due to price hikes coupled with decent contributions from the service segment. EBITDA margins also increased due to operating leverage, thus positively impacting PAT. Going forward, Timken is expected to perform better with sustainable margins, new product launches and better performance in Indian CV & PV segment,” ICICI Securities said.

In the morning trade, Timken traded at Rs 2,231, 13.5 per cent higher than a 1.7 per cent rise in the S&P BSE Sensex. The stock hit a 52-week high of Rs 2,301.65 in the financial year 2021-22.