Timken doing well

Timken, which had closed on Friday at Rs.1964.40, rose 15% to an intraday high today at Rs.2255, just 2% away from its 52-week high of Rs.2301.65.

The company, engaged in the manufacture of bearings and allied goods posted a good set of earnings for Q4FY22, with net profit coming in at Rs.12 crore, more than double that of previous Q4 of Rs.5 crore.

This was on a 40% (YoY) rise in revenue from operations at Rs.667 crore.

 A price hike leading to better gross profit margins and operational efficiencies led to EBITDA margin rising from 18.3% to 26.9%.