Schaeffler India

 
 
 
 
 
 
Quarterly Financial Results 2016

Quarter II, 2016

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED JUNE 30, 2016

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

30-6-2016
(Unaudited)

31-3-2016
(Unaudited)

30-6-2015
(Unaudited)

30-6-2016
(Unaudited)

30-6-2015
(Unaudited)

31-12-2015
(Audited)
1 Income from Operations            
a) Net sales / Income from Operations (Net of excise duty) 4,473.0 4,123.3 4,287.7 8,596.3 8,340.3 17,077.6
b) Other Operating Income 52.5 52.6 33.5 105.1 71.3 166.7
  Total income from operations (Net) 4,525.5 4,175.9 4,321.2 8,701.4 8,411.6 17,244.3
2 Expenses            
a) Cost of materials consumed 1,694.7 1,579.9 1,507.0 3,274.6 2,962.6 6,292.2
b) Purchase of Stock-in-trade 1,214.9 1,032.0 995.1 2,246.9 1,813.2 3,714.2
c) Changes in inventories of finished goods, Work-in-Progress and stock-in-trade (142.0) (181.2) (64.4) (323.2) 20.3 (135.0)
d) Employees benefit expense 373.9 350.4 329.2 724.3 668.9 1,317.7
e) Depreciation and amortisation expense
156.6 152.0 124.2 308.6 248.7 655.1
f) Other expenses 688.3 661.5 805.3 1,349.8 1,564.1 3,002.4
  Total expenses 3,986.4 3,594.6 3,696.4 7,581.0 7,277.8 14,846.6
3 Profit from Operations before Other Income, finance costs and Exceptional Items (1-2) 539.1 581.3 624.8 1,120.4 1,133.8 2,397.7
4 Other Income 163.4 156.5 147.1 319.9 275.3 561.6
5 Profit from ordinary activities before finance costs and exceptional items (3+4) 702.5 737.8 771.9 1,440.3 1,409.1 2,959.3
6 Finance cost 3.3 4.2 10.4 7.5 15.2 21.2
7 Profit from ordinary activities after finance costs but before exceptional items (5-6) 699.2 733.6 761.5 1,432.8 1,393.9 2,938.1
8 Exceptional Items - - - - - -
9 Profit from Ordinary Activities before tax (7-8) 699.2 733.6 761.5 1,432.8 1,393.9 2,938.1
10 Tax expense (Refer note 2 below) 246.7 309.1 268.8 555.8 487.2 963.3
11 Net Profit from Ordinary Activities after tax (9-10) 452.5 424.5 492.7 877.0 906.7 1,974.8
12 Extraordinary Items (Net of tax expense) - - - - - -
13 Net Profit for the period (11-12) 452.5 424.5 492.7 877.0 906.7 1,974.8
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 - - - - - 12,707.0
16i Earnings per share (before extraordinary items)
(of Rs. 10 each) (not annualised)
           
a) Basic 27.23 25.54 29.65 52.77 54.55 118.84
b) Diluted 27.23 25.54 29.65 52.77 54.55 118.84
16ii Earnings per share (After extraordinary items)
(of Rs. 10 each) (not annualised)
           
a) Basic 27.23 25.54 29.65 52.77 54.55 118.84
b) Diluted 27.23 25.54 29.65 52.77 54.55 118.84
 
STANDALONE STATEMENT OF ASSETS AND LIABILITIES
  Particulars AS AT 30-6-2016
(Unaudited)
AS AT 31-12-2015
(Audited
)
A EQUITY AND LIABILITIES    
1 Shareholders' funds    
  a) Share Capital 166.2 166.2
  b) Reserves & Surplus 13,599.7 12,726.2
  Shareholders' Funds 13,765.9 12,892.4
2 Non-current liabilities    
  a) Deferred tax liabilities 49.6 86.8
  b) Other long-term liabilities 14.6 14.5
  c) Long-term Provisions 207.2 220.8
  Non-Current Liabilities 271.4 322.1
3 Current Liabilities    
  a) Trade payables 2,600.9 2,404.8
  b) Other current liabilities 574.0 690.4
  c) Short-term provisions 155.6 244.1
  Current Liabilities 3,330.5 3,339.3
  TOTAL-EQUITY AND LIABILITIES 17,367.8 16,553.8
B ASSETS    
1 Non-current assets    
  a) Fixed assets 4,028.9 3,976.0
  b) Long-term loans and advances 1,633.5 1,283.2
  Non-current assets 5,662.4 5,259.2
2 Current assets    
  a) Inventories 2,494.2 2,202.5
  b) Trade receivables 3,470.0 3,364.4
  c) Cash and cash equivalents 5,291.6 4,704.1
  d) Short-term loans and advances 270.7 853.1
  e) Other current assets 178.9 170.5
  Current assets 11,705.4 11,294.6
  TOTAL-ASSETS 17,367.8 16,553.8
 

Notes:

1) The business of the Company comprises of sale of “Ball/Roller Bearings and related components” and "sale of machines". “Ball/Roller Bearings and related components” has been identified as a single reportable segment for the purpose of Accounting Standard (AS) 17 on ‘Segment Reporting’.

2) The tax expense for the quarter ended 31 March 2016 includes provision of Rs. 41.9 million pertaining to previous year ended 31 December 2015. This however, does not have any impact on tax expense for tax year ended 31 March 2016.

3) The above financial results were reviewed by the Audit Committee and approved by the Board of Directors at the meeting held on July 28, 2016.

4) TThe Statutory Auditors have performed a "Limited Review" of the above financial results for the period ended June 30, 2016.

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: Bengaluru
Date: July 28,2016