Timken India Q1 Review - Excellent Set Of Operational Numbers: ICICI Direct

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Direct Report.Timken India Ltd. reported a good set of numbers in Q1 FY23, with revenues inline with our expectation due to good performance on industrial segment side. Gross margins came below our estimates, which resulted in lower than expected Ebitda margins despite lower than expected employee cost and other expenses.Revenue for the quarter came in at Rs 699.2 crore, up 49.4% YoY and 4.8% QoQ (versus our estimate of Rs 697.9 crore).Gross margins contracted ~190 bps QoQ and expanded ~130 bps YoY. Timken registered an Ebitda margin of 24.5% versus 19.8% YoY and 26.9% QoQ (versus our estimate of 25%).Surprise in Ebitda margin come in due to weaker-than-expected gross margins. Absolute Ebitda came in at Rs 171.6 crore, down 4.6% QoQ (our estimate of Rs 174.4 crore).Employee cost increased 14.4% YoY and 9.1% QoQ and is at Rs 39.7 crore. Other expenses increased 6.5% QoQ and is at Rs 109 crore..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Timken India Q1 Review - Excellent Set Of Operational Numbers: ICICI Direct

Timken India Q1 Review - Excellent Set Of Operational Numbers: ICICI Direct

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