Schaeffler India

 
 
 
 
 
 
Quarterly Financial Results 2016

Quarter I, 2016

STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED MARCH 31, 2016

 
  Rupees in Million
    1 2 3 4
Sr. No. Particulars THREE MONTHS ENDED YEAR ENDED

Mar. 31, 2016
(Unaudited)

Dec. 31, 2015
(Audited)

Mar. 31, 2015
(Unaudited)

Dec. 31, 2015
(Audited)
1 Income from Operations        
a) Net sales / Income from Operations
(Net of excise duty)
4,123.3 4,388.3 4,052.6 17,077.6
b) Other Operating Income 52.6 61.3 37.8 166.7
  Total income from operations (Net) 4,175.9 4,449.6 4,090.4 17,244.3
2 Expenses        
a) Cost of materials consumed 1,579.9 1,728.0 1,455.6 6,292.2
b) Purchase of Stock-in-trade 1,032.0 890.3 818.1 3,714.2
c) Changes in inventories of finished goods, Work-in-Progress and stock-in-trade (181.2) (70.6) 84.7 (135.0)
d) Employees benefit expense 350.4 310.4 339.7 1,317.7
e) Depreciation and amortisation expense
152.0 278.4 124.5 655.1
f) Other expenses 661.5 677.2 758.8 3,002.4
  Total expenses 3,594.6 3,813.7 3,581.4 14,846.6
3 Profit from Operations before Other Income, finance costs and Exceptional Items (1-2) 581.3 635.9 509.0 2,397.7
4 Other Income 156.5 136.2 128.2 561.6
5 Profit from ordinary activities before finance costs and exceptional items (3+4) 737.8 772.1 637.2 2,959.3
6 Finance cost 4.2 3.4 4.8 21.2
7 Profit from ordinary activities after finance costs but before exceptional items (5-6) 733.6 768.7 632.4 2,938.1
8 Exceptional Items - - - -
9 Profit from Ordinary Activities before tax (7-8) 733.6 768.7 632.4 2,938.1
10 Tax expense 309.1 206.6 218.4 963.3
11 Net Profit from Ordinary Activities after tax (9-10) 424.5 562.1 414.0 1,974.8
12 Extraordinary Items (Net of tax expense) - - - -
13 Net Profit for the period (11-12) 424.5 562.1 414.0 1,974.8
14 Paid-up equity share capital
(Face value of Rs.10/- per share)
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 25.54 33.83 24.91 118.84
b) Diluted 25.54 33.83 24.91 118.84
16ii Earnings per share (After extraordinary items)
(of Rs. 10 each) (not annualised)
       
a) Basic 25.54 33.83 24.91 118.84
b) Diluted 25.54 33.83 24.91 118.84
 

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 figures for the preceding 3 months ended December 31, 2015 are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of previous financial year. Also, the figures up to the end of the third quarter were reviewed and not subjected to audit.

3) 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.

4) The above financial results for the quarter ended March 31, 2016 were reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on April 27, 2016.

5) The Statutory Auditors have performed a "Limited Review" of the above financial results for the three months ended March 31, 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: Mumbai
Date: April 27, 2016