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Timken India Ltd — Capital/Financing Update 2022
Nov 16, 2022
61027_rns_2022-11-16_d692ca67-f147-4fb6-a6b0-a8f36f5f467c.pdf
Capital/Financing Update
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Mandar Vasmatkar
Company Secretary & Chief-Compliance [email protected]
16 November, 2022
The National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G-Block, Bandra- Kurla Complex, Bandra (E), Mumbai- 400 051.
NSE Symbol - TIMKEN
BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai- 400 001.
Scrip Code- 522113
Dear Sir/Madam,
Sub: New Manufacturing Facility
Pursuant to Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to announce that new manufacturing facility will be set up at Bharuch, Gujarat to manufacture Spherical Roller Bearings (‘SRB’) and Cylindrical Roller Bearings (‘CRB’) and components thereof.
The Company already has manufacturing plant at Bharuch, Gujarat wherein primarily Tapered Roller Bearings (‘TRB’) and its components are manufactured. At the same premises wherein existing plant is situated, new facility will be set up to manufacture SRB and CRB and components thereof which will enhance manufacturing capacity of the Company. Relevant details in this regard are provided below:
| Existing capacity | The Company has manufacturing plants at Jamshedpur and Bharuch wherein primarily TRB and its components are manufactured. The Company at present does not manufacture SRB and CRB. |
|---|---|
Registered office: Timken India Limited
39-42, Electronic City, Phase II, Hosur Road, Bangalore 560 100. Tel: +91(80) 41362000, Fax: +91(80) 41362010, Website: www.timken.com/en-in/ CIN:L29130KA1996PLC048230
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Existing capacity utilization Present capacities for TRB are full utilized.
New Product SRB and CRB
Expected Commercial Production start date January, 2025
Investment Approx. Rs 600 crores
Mode of financing Internal accruals
Rationale The Company at present does not manufacture
SRB and CRB in India. SRB and CRB are
mainly imported from Timken group
companies across world and sold in India. The
Company believes that SRB and CRB overall
have good market in India and outside India.
Target Market Domestic as well as International market
including US and Europe.
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You are kindly requested to take note of the above.
Thanking you,
Yours faithfully,
For TIMKEN INDIA LIMITED
MANDAR Digitally signed by MANDAR MOHANIRAJ MOHANIRAJ VASMATKA VASMATKAR Date: 2022.11.16 R 18:02:08 +05'30'
Mandar Vasmatkar Company Secretary & Chief - Compliance
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