Timken India Ltd Share Price

History of Timken India Ltd

Timken India Limited was initially incorporated as 'Tata Timken Limited' on 15 June, 1987. The name of the Company was changed to Timken India Limited from Tata Timken Limited on July 2, 1999. The Company is mainly into manufacture, distribution and sale of anti-friction bearings primarily tapered roller bearings, other roller bearings, components, accessories, and mechanical power transmission products for diverse customer base. The Company provides maintenance contract and refurbishment services. The Company's manufacturing plants are located at Jamshedpur in Jharkhand & Bharuch in Gujarat and distribution centers are located in various parts of the country. The Company's active operations are in Engineered bearings, Industrial Motions, and related services business.. Timken Company i ...s a 125-year-old US-based organization with operations in 45 countries around the world keeping industries in motion. The Timken Company was founded in 1899 by Henry Timken, who received two patents on the design of a tapered roller bearing. Company's expertise in the domains of metallurgy, tribology and mechanical systems enable collaboration with OEMs to customize solutions based on customer's requirements and diverse applications with an in-house design and development. To extend the product range, the company embarked upon a small bearings project for Rs 16 crore to manufacture TRBs with a bore size of 35mm and less which has been completed within the budgeted cost in fiscal 2001. During the fiscal it introduced a new concept in technical problem solving and roll shop management, drawing heavily from the expertise in its steel rolling mill as well as its strong base of knowledge in bearing. The service envisages round the clock management of customer's roll shop and the associated chock and bearing maintenance. It is also pursuing new business activities that enhance the value adding propositions of the company's existing businesses. During the year 2001-02, The Company had shut down 2 plants (in UK and USA) and as a part of the products of those plants has been transferred permanently to Timken India. This will result in an important growth of manufacturing volumes of Jemshedpur plant. TIL has completed the acquisition of The Torrington company in 2002. This acquisition offers a fit and will bring a broader line of engineered products and services. During the year 2004, the company undertook an expansion project of installing a new 8' cone line. This new line is expected to produce a little over five lacs tapered single cones annually necessitating an approximate investment of Rs.1.65 Crores. It also has undertaken a new project for manufacture of double extended cones for the purpose of export to US. This double extended cone project envisages an investment of Rs 10.50 Crores. This project is expected to be completed by the end of the first quarter of 2007. TIL continued to drive Lean Six Sigma Projects across all parts of its operations and business processes. In 2004 TIL was awarded a special award for excellence in Lean Six Sigma at the Indian Manufacturing Excellence Awards (IMEA) announced by Frost & Sullivan. During the year 2004, the installed capacity of AP Cartridge Tapered Roller Bearings, units including components and accessories has been increased by 45000 Nos. Due to this expansion the installed capacity of AP Cartridge Tapered Roller Bearings, unit including components and accessories is 150000 Nos for this year. In 2006, the company undertook an expansion project of installing large size cup line. This new line was installed and commercial production started on May 15, 2006. The actual investment for this project was around Rs 4.50 Crores. In FY 2008, the company acquired two strategic services' contracts in steel industry. During FY 2015, the company fully commenced its operation of Industrial Service plant in Raipur, Chhattisgarh and completed its Roller expansion project at a cost of Rs. 163 Million. During FY 2018, the Board of Directors of the Company at its meeting held on 4 July, 2017, approved a Scheme of Amalgamation and Arrangement between ABC Bearings Limited and Timken India Limited and their respective shareholders and creditors. Subsequently, pursuant to an Order of the National Company Law Tribunal (NCLT), Bengaluru Bench, meetings of the shareholders and creditors were held on 1 February 2018. At the said meetings, the proposed Scheme was approved by the shareholders and creditors and thereafter the Company has received approval of NCLT, Bengaluru Bench. With acquisition of ABC Bearings, the Company made significant progress with a variety of new product lines. The acquisition helped to expand capacity, customer base and ability to increase participation in local and export markets during the FY 2018-19. In 2021, the Company introduced Wheel-Pac repair kit for the first time and revamped the grease range for its aftermarket business. At Jamshedpur plant, it made Roller facility operational and enabled the Rail facility with automation technology to serve the high-speed rail market. Besides this, rail bearing services were made operational along with all related utilities at the plant. The Bharuch Plant implemented integration of vital internal systems to align itself with Timken processes. In FY 2021-22, Company made significant headway in service business with MillTec adding five new sites and achieving a business growth of approx. 50% in the year. This was achieved by penetrating new segments including public sector and nonferrous rolling. It grew progressively in the industrial distribution, Indian Railways and Renewable Energy Segment. A manufacturing facility for spherical and cylindrical roller bearings and related components was set up in Bharuch, Gujarat in April, 2025.