Schaeffler India

 
 
 
 
 
 
Quarterly Financial Results 2015

Quarter III, 2015

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2015

 
PART I Rupees in Million
    1 2 3 4 5 6
Sr. No. Particulars THREE MONTHS ENDED YEAR TO DATE FIGURE YEAR ENDED

30-9-2015
(Unaudited)

30-6-2015
(Unaudited)

30-9-2014
(Unaudited)

30-9-2015
(Unaudited)

30-9-2014
(Unaudited)

31-12-2014
(Audited)
1 Income from Operations            
a) Net sales / Income from Operations
(Net of excise duty)
4,349.0 4,287.7 4,063.5 12,689.3 11,920.6 16,176.1
b) Other Operating Income 34.1 33.5 38.3 105.4 105.9 145.4
  Total income from operations (Net) 4,383.1 4,321.2 4,101.8 12,794.7 12,026.53 16,321.5
2 Expenses            
a) Cost of materials consumed 1,601.6 1507.0 1,606.9 4,564.2 4,640.7 6,020.8
b) Purchase of Stock-in-trade 1,010.7 995.1 1,236.4 2,823.9 3,117.5 3,973.5
c) Changes in inventories of finished goods, Work-in-Progress and stock-in-trade (84.7) (64.4) (402.7) (64.4) (449.4) (21.1)
d) Employees benefit expense 338.4 329.2 317.9 1,007.3 1,030.4 1,379.4
e) Depreciation and amortisation expense
128.0 124.2 125.2 376.7 368.6 493.5
f) Other expenses 761.1 805.3 742.8 2,325.2 1,893.5 2,551.5
  Total expenses 3,755.1 3,696.4 3,626.5 11,032.9 10,601.3 14,397.6
3 Profit from Operations before Other Income, finance costs and Exceptional Items (1-2) 628.0 624.8 475.3 1,761.8 1,425.2 1,923.9
4 Other Income 150.1 147.1 97.1 425.4 295.4 409.5
5 Profit from ordinary activities before finance costs and exceptional items (3+4) 778.1 771.9 572.4 2,187.2 1,720.6 2,333.4
6 Finance cost 2.6 10.4 2.8 17.8 6.8 9.7
7 Profit from ordinary activities after finance costs but before exceptional items (5-6) 775.5 761.5 569.6 2,169.4 1,713.8 2,323.7
8 Exceptional Items - - - - - -
9 Profit from Ordinary Activities before tax (7-8) 775.5 761.5 569.6 2,169.4 1,713.8 2,323.7
10 Tax expense 269.5 268.8 194.5 756.7 584.2 794.9
11 Net Profit from Ordinary Activities after tax (9-10) 506.0 492.7 375.1 1,412.7 1,129.6 1,528.8
12 Extraordinary Items (Net of tax expense) - - - - - -
13 Net Profit for the period (11-12) 506.0 492.7 375.1 1,412.7 1,129.6 1,528.8
14 Paid-up equity share capital
(Face value of Rs.10/- per share)
166.2 166.2 166.2 166.2 166.2 166.2
15 Reserves excluding Revaluation Reserves as per balance sheet of previous accounting year - - - - - 10,888.9
16i Earnings per share (before extraordinary items)
(of Rs. 10 each) (not annualised)
           
a) Basic 30.45 29.65 22.57 85.00 67.97 92.00
b) Diluted 30.45 29.65 22.57 85.00 67.97 92.00
16ii Earnings per share (After extraordinary items)
(of Rs. 10 each) (not annualised)
           
a) Basic 30.45 29.65 22.57 85.00 67.97 92.00
b) Diluted 30.45 29.65 22.57 85.00 67.97 92.00
 
PART II
SELECT INFORMATION FOR THE QUARTER AND NINE MONTHS ENDED SEPTEMBER 30, 2015
    1 2 3 4 5 6
Sr. No. Particulars THREE MONTHS ENDED YEAR TO DATE FIGURE YEAR ENDED

30-9-2015
(Unaudited)

30-6-2015
(Unaudited)

30-9-2014
(Unaudited)

30-9-2015
(Unaudited)

30-9-2014
(Unaudited)

31-12-2014
(Audited)
A PARTICULARS OF SHAREHOLDING            
1 Public Shareholding            
- Number of shares 8088087 8088087 8088087 8088087 8088087 8088087
- Percentage of shareholding 48.7 48.7 48.7 48.7 48.7 48.7
2 Promoters and promoter group Shareholding            
a) Pledged / Encumbered            
- Number of Shares - - - - - -
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) - - - - - -
- Percentage of shares (as a % of the total share capital of the company) - - - - - -
b) Non-encumbered            
- Number of Shares 8529183 8529183 8529183 8529183 8529183 8529183
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) 100 100 100 100 100 100
- Percentage of shares (as a % of the total share capital of the company) 51.3 51.3 51.3 51.3 51.3 51.3
  Particulars 30-9-2015
3 MONTHS ENDED
B INVESTOR COMPLAINTS      
  Pending at the beginning of the quarter     -
  Received during the quarter     -
  Disposed of during the quarter     -
  Remaining unresolved at the end of the quarter     -
 

Notes:

1) The business of the Company falls under a single primary segment i.e. "Ball / Roller Bearings and related components" for the purpose of Accounting Standard AS - 17.

2) The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on November 5, 2015

3) The Company has early adopted and applied the principles of hedge accounting as set out in Accounting Standard (AS) 30, ‘Financial Instruments: Recognition and measurement’ issued by ICAI to forward contracts in respect of highly probable forecasted transactions or firm commitments. Consequently, the Company has recorded Rs 32.4 million representing mark to market gain in the Cash flow hedge reserve as at September 30, 2015.

4) The Statutory Auditors have performed a "Limited Review" of the above financial results for the nine months ended September 30, 2015.

5) The Scheme of Amalgamation of 'FAG Roller Bearings Private Limited' (FAG RB) with the Company has been sanctioned by the Hon'ble High Court of Bombay vide order received on November 3, 2015 and will be effective on its filling with the Registrar of Companies, which will be done within the prescribed timelines. The financial results of FAG RB for the quarter and nine months period under report have not been considered in the above financial results of the Company.

 

Per our report attached of even date
B S R & Co. LLP
Chartered Accountants
Firm Reg. No. 101248W / W-100022

Vijay Mathur
Partner
Membership No. 046476

For FAG BEARINGS INDIA LIMITED

Rajendra Anandpara
Managing Director
DIN: 02461259

Place: Pune
Date: November 5, 2015