Timken India is fundamentally a friction-management business - it makes the precision bearings and power-transmission parts that keep heavy machinery, trains, wind turbines and factories moving. It was incorporated in 1987 as the Indian arm of the 125-year-old US-based Timken Company, which invented the tapered roller bearing and still leads the world in that technology. The recurring approach that explains everything else is a parent-powered model: Timken India taps the global group’s proprietary designs, R&D and supply chain, manufactures what has critical volume locally at its two Gujarat and Jharkhand plants, and imports the rest - then sells through a mix of direct OEM relationships and a wide aftermarket distribution network. # Business segments Two engines that feed each other - a core engineered-bearings franchise built on tapered roller bearings, and a growing adjacent business in mechanical power-transmission products and industrial services that rides the same customer relationships. ## 1. Engineered Bearings: the franchise that carries the company **Tapered roller bearings are the bedrock, but the portfolio now spans cylindrical, spherical, plain and slewing bearings - sold into everything from freight wagons to wind turbines, with roughly two-thirds made or sourced in India and one-third imported from group companies.** - **Born from a global patent** - the parent company was founded on Henry Timken’s tapered roller bearing design, and Timken India still holds a strong market share in that category, manufacturing them at fully-utilised plants in Jamshedpur and Bharuch. - **Rail is the anchor customer** - the company supplies bearings for Indian Railways wagons, coaches and metros, and exports to global rail markets including a “pretty robust” South American business; a dedicated capacity expansion for rail bearing components (cups and cones) is underway at Jamshedpur to add slightly more than 20% to grinding and assembly capacity. - **A new plant unlocks the industrial middle** - the just-commissioned greenfield facility at Bharuch makes spherical and cylindrical roller bearings, types the company previously only imported; it targets domestic industrial demand first, with ASEAN and Australia as secondary export markets, and was built with Industry 4.0 automation. - **Make where volume justifies it** - because the bearing catalogue runs to a vast number of part numbers, the company invests in local production only where there is critical volume; the rest is imported from Timken group companies, keeping the domestic-imported revenue split at roughly 65:35. - **OEMs for volume, aftermarket for pricing power** - the business sells to original equipment manufacturers (about 40% of the industry mix) and through 50-plus industrial and 100-plus automotive channel partners; passing on price increases is “relatively easier” in the aftermarket, which gives the model a natural hedge. ## 2. Mechanical Power Transmission & Industrial Services: the adjacency that deepens the moat **The company sells the parts that sit next to the bearing - couplings, chains, belts, lubrication systems - and wraps a growing MillTec refurbishment service around both, cross-selling into the same factories and fleets.** - **A complete drivetrain from one supplier** - the portfolio includes belts, industrial chains, couplings, clutches, lubrication systems and housed units, all leveraging group know-how and acquisitions; the company is now assembling Cone Drive slew drives at Bharuch for the Indian solar market. - **MillTec turns service into a recurring revenue stream** - the in-house service brand provides maintenance and refurbishment on installed bearings, adding five new sites in FY22 and four more in FY24, and penetrating segments like public-sector metals and non-ferrous rolling. - **Distribution is the channel, MRO is the target** - the company reaches end-markets through a network of industrial and automotive channel partners, and is deliberately expanding that footprint to capture the general Maintenance, Repair and Operations (MRO) market, where value-added services help address regional gaps. - **Global acquisitions, local launches** - when the parent Timken Company buys a new power-transmission business anywhere in the world, Timken India gets a platform to introduce those products domestically, turning the group’s M&A pipeline into its own new-product pipeline. # Group structure and partners **Timken India is a majority-owned, technology-fed subsidiary of the US Timken group - it gets designs, trademarks and global supply-chain access from its parent, and in return pays royalties and routes its exports and imports through group entities.** - **Ownership and control** - Timken Singapore Pte. Limited held 51.05% as of March 2025, down from 57.70% in earlier years; the ultimate holding company is The Timken Company of Canton, Ohio. - **Technology and brand access** - the company pays royalties for the Timken tradename and proprietary technology, including product designs, manufacturing methods and service techniques, ensuring its Jamshedpur and Bharuch output matches global quality standards. - **Group supply chain as a procurement arm** - exports and imports are routed through The Timken Corporation, which acts as the group’s distribution centre for lean supply-chain efficiency; the company also buys wind bearings from Timken Wuxi in China and products from the TERI Chennai plant for domestic sale. - **A recent subsidiary and a pending merger** - in December 2025, Timken India acquired 100% of Timken GGB Technology Private Limited (which sells self-lubricating GGB bearings and Garlock seals) from group entities; a scheme of amalgamation to merge it into Timken India is underway to drive operational synergies. - **Shared services, not just shared ownership** - the group’s Bangalore technology centre (TERI) provides IT, engineering and R&D services, while administrative, sales and after-sales support flows from the parent as needed, making Timken India a manufacturing-and-distribution front-end for a global innovation engine.