Français
Deutsch
Español
Italiano
Português
日本語
한국어
Русский
The Boca Bearings Company has Expanded its One Way and Needle Bearing Inventory
Jul 08, 2023StockNews.com Initiates Coverage on RBC Bearings (NASDAQ:ROLL)
Jul 10, 2023RBC Bearings Acquires Specline for $18.7 Million
Jul 09, 2023India Bearings Market Update: 3 Companies Showing Sign of Enormous Growth
Jul 07, 202340 Films to See This Fall
Jun 25, 2023Margins contract sharply on higher traded sales
Jun 08, 2023Share
News: Revenue was up by 2.6% YoY (-10.6% QoQ) to Rs 717.6 crore. EBITDA margin contracted by 563 bps YoY (-14 bps QoQ) to 18.9%, primarily due to higher traded sales. Subsequently, EBITDA declined by 20.9% YoY (-11.2% QoQ) to Rs 135.7 crore. PAT declined by 23.7% YoY (-13.8% QoQ) to Rs 90.1 crore.
Views: Overall operational performance remained subdued during the quarter with muted revenue growth and contraction in margins. Slower demand scenario in export markets (which contributes ~28% to sales) is likely to have impacted revenue growth. Going ahead, we believe that Timken is expected to benefit from investments in domestic manufacturing of spherical and cylindrical roller bearings which is currently being traded in India through imports. Also, better demand scenario across its industrial segment (including railways) presents strong business visibility over the longer term. Margins are also expected to improve with the reduction of imported traded sales in coming period and increase in localisation.
Impact: Negative
News: Views: Impact: