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Timken India reported Q4 sales of INR 940 Cr, up 4.7% YoY, with PBT growing 8% and margins improving ~70 bps. FY25 revenue rose 8.2% to INR 3,148 Cr, led by strong rail (17%), distribution (11%), and process (8%) segment growth. The rail order book remains solid, backed by capacity expansions and high-tech investments. The Bharuch plant is ramping up, targeting ~45% utilization by FY26-end for domestic and export markets. New product ventures include plain bearings with composite materials and Cone Drive tech for renewables. Management expects 10–15% volume growth from capacity and productivity gains without major capex. Tone is confident on domestic demand and tech-driven growth, cautious on exports amid global challenges.