In an interview to CNBC-TV18's Ekta Batra and Nigel D'Souza, Sanjay Koul, MD of Timken India spoke about the latest happenings in the company and sector.
In an interview to CNBC-TV18's Ekta Batra and Nigel D'Souza, Sanjay Koul, MD of Timken India spoke about the latest happenings in the company and sector.
Below is a verbatim transcript of the interview on CNBC-TV18
Nigel: Your stock is up in today's session. There is some optimism on the various segments that you operate; infrastructure as well as automobiles. Could you take us through whether you are seeing any kind of demand uptick?
A: Yes. The fact is that automobiles, the auto components and the commercial vehicles are on slight uptick and these are the major factors which actually infuse growth in the bearing market.
Apart from that the country is already announcing expansion in the railway sector and railways does use a lot of high-end bearing. So that further facilitates the growth of the market and then the interim Budget, the announcement of various infrastructure projects coupled with some industrial growth, the manufacturing went up a little bit, PPI went up and little bit of investment coming in. So it is already looking little up in India. So for bearing, commercial vehicle, infrastructure together means good news.
Ekta: You did around Rs 720 crore in FY14. What do you think you can push it up to in FY15?
A: We work January to December and the second half of this year is looking better, the forecast is looking better. So while we did single digit we are expecting to do better than what we did in the first half. So as the market is going to collaborate we can see that in there. So we are looking at a better growth than the previous two quarters.
Nigel: Your promoter holding is at around 75 percent, any kind of communication from the parent with regard to delisting or anything on that front?
A: Absolutely no. It stays that way.
Timken stock price
On July 21, 2014, Timken India closed at Rs 320.15, up Rs 0.20, or 0.06 percent. The 52-week high of the share was Rs 333.00 and the 52-week low was Rs 145.55.
The company's trailing 12-month (TTM) EPS was at Rs 6.58 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 48.66. The latest book value of the company is Rs 57.42 per share. At current value, the price-to-book value of the company is 5.58.
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