Schaeffler India Limited announces Q3 and nine month results for the period ended September 30, 2022

2022-10-18 | Pune

• Automotive business drives strong YoY revenue growth
• Margin levels sustained despite challenging market environment and inflationary pressure

Leading industrial and automotive supplier, Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER) today announced that the Board of Directors approved the results for the third quarter and nine months ended September 30, 2022

July – September 2022 (Third Quarter)

• Total revenue from operations (net) for the quarter (Q3 CY2022) was INR 17,564 million, higher by 18.1% than the corresponding quarter of 2021 and 0.4% higher than preceding quarter (Q2 CY2022)
• PBT (before exceptional items) for the quarter (Q3 CY2022) was INR 2,896 million, 26.1% higher than the corresponding quarter of 2021. PBT margin for the quarter stood at 16.5%, compared to 15.4% during the corresponding quarter of 2021
• Net Profit for the quarter was INR 2,154 million and net profit margin stood at 12.3% compared to 11.5% during the corresponding quarter of 2021

January – September 2022 (Nine Months)

• Total revenue from operations (net) for the nine months was INR 50,728 million, higher by 25.6% than the corresponding period of 2021
• PBT (before exceptional items) for the year was INR 8,525 million, higher by 45.4 % than the corresponding period of 2021. PBT margin for the nine months stood at 16.8%, compared to 14.5% during the corresponding period of 2021
• Net profit for the period was INR 6,482 million and net profit margin stood at 12.8% compared to 10.9% during the corresponding period of 2021

Commenting on the results, Mr. Harsha Kadam, Managing Director, said, “ Our balanced business mix, efforts towards delivering seamless customer value and constant engagement, continues to help us in achieveing yet another quarter of strong performance, despite inflationary perssures and a challengeing market enviornment. While keeping a close watch on the external headwinds, we continue to stay focused on our growth trajectory. As we continue to strengthen our enviornment, social and governance framework, we remain committed on adding sustainable value for all our stakeholders."

About Schaeffler India Limited

Schaeffler has been present in India for over 50 years. With 3 well known product brands LuK, INA and FAG, 4 manufacturing plants and 8 sales offices, Schaeffler has a significant presence in India. Schaeffler is among the largest Industrial and Automotive supplier with sales of INR 55.6 billion in 2021 and around 2,922 employees. The manufacturing plants in Maneja and Savli (Vadodara), produce a vast range of ball bearings, cylindrical roller bearings, spherical roller bearings and wheel bearings that are sold under the brand name of FAG. The plant at Talegaon near Pune, manufactures engine and powertrain components for front accessory drive system, chain drive systems, valve train, gear shift systems and a range of needle roller bearings and elements, under the brand INA. The fourth manufacturing location is based out of Hosur, producing a wide range of clutches and hydraulic clutch release systems for passenger cars, light commercial vehicles, heavy commercial vehicles and tractors sold under the brand of LuK. Schaeffler also has the largest after-market networks serving the industrial and automotive customers. All of this is backed by dedicated engineering, research and development support based in India in support of product teams.