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Head Corporate Communications,
Tel: +91 (20) 3061 4221 / +91 91686 84744
Tel. +91 265 6602404
Vice President Corporate Communications, Schaeffler AG, Herzogenaurach,
2018-07-26 | Pune
Pune, July 26, 2018. Leading industrial and automotive supplier, Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER) today announced that the Board of Directors approved the results for the second quarter and half year, ended June 30, 2018.
April – June 2018
• Total income (net) for the quarter increased to INR 5,437 million, higher by 14.5% than the corresponding quarter of 2017.
• EBT for the quarter grew by 12.9% to INR 945 million compared to the corresponding quarter of 2017. EBT Margin for the quarter stood at 17.4%.
January – June 2018
• Total income (net) for the 6-month period increased to INR 10,878 million, higher by 14.3% than the corresponding period of 2017.
• EBT for HY18 grew by 13.4% to INR 1,927 million compared to the corresponding period of 2017. EBT margin for the said period stood at 17.7%.
Further to the merger scheme announced on August 30, 2017 by the Board of Directors of INA Bearings India Pvt Limited, LuK India Pvt Limited and Schaeffler India Limited, Schaeffler India also published the consolidated results on a pro-forma basis for the three companies. On a pro-forma basis, the six months’ (Jan-June 2018) consolidated total income (net) stood at INR 22,487 million, higher by 15.8% compared to the corresponding six months of 2017.
Commenting on the results and financial performance of Schaeffler India Limited, Mr. Dharmesh Arora, Managing Director, said, “We continue to witness all round growth in the second quarter of 2018 and have seen a double digit growth in line with our expectations. Buoyed by solid market performances in the infrastructure, railways, construction equipment, commercial vehicles and tractors, our automotive and industrial businesses delivered good performances. We expect the growth trajectory to continue in the short to medium term and maintain a stable performance.”