- Industrial and Automotive businesses continue to grow in a resurgent marke - Sustenance of safety measures enabled us to ramp-up our operations to pre-COVID levels |
Pune|16 February, 2021|Leading industrial and automotive supplier, Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER) today announced that the Board of Directors approved the results for the fourthquarter and full year, ended December 31, 2020.
October –December 2020 (Fourth Quarter)
· Total revenue from operations (net) for the quarter (Q4) was INR 12,738 million, higher by 13.7% than the preceding quarter and 22.9%higher than the corresponding quarter of 2019.
· PBT (before exceptional items) for the quarter (Q4) was INR 1,911 million, higher by 25.1% than the preceding quarter and 53.9% higher than the corresponding quarter of 2019.
· Net Profit margin for the quarter stood at 11.1%.
January –December2020 (Twelve Month / Full Year)
· Total revenue from operations (net) for the twelve monthsperiod was INR 37,619 million, lower by 13.7% than the corresponding period of 2019.
· PBT (before exceptional items) for the period was INR 3,972 million lower by 25.7%.
· Net profit magin for the year stood at 7.7%
Commenting on the results, Mr. Harsha Kadam, Managing Director, said, “Our industrial and automotive businesses showed resounding performance during the quarter. We had a sharp market recovery in the quarter which was aided by our strong countermeasures and successful realization of new projects. 2020 was a turbulent year and our teams across the board showed agility in responding to the situation as we were pushed into uncharted territory. We stayed the course, continued to deepen our customer connect to become the preferred technology partner, as we emerge stronger out of this volatile environment together. We are optimistic and anticipate to continue this momentum as we move ahead.“
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 10 sales offices, Schaeffler has a significant presence in India. Schaeffler is among the largest Industrial and Automotive supplier with sales of INR 43.6 billion in 2019 and around 3,000 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.
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