Timken India Research Report By HDFC Sec

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December 24, 2014 at 9:15 pm #1465

Vidhi Khanna
Keymaster

Quality play

We hosted the management of Timken India for a series of investor meetings. Timken India is a high quality franchise with potential to deliver strong earnings growth and significantly expand return ratios on the back of its asset light business model. With over 200% returns in the past 12 months, valuations appear heady at 52.3x on LTM earnings. Nevertheless, with strong earnings momentum and latent opportunities to enter into new product segments, premium valuations seem justified.

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