SKF India Ltd share Price Today

About the stock: SKF India is one of the leading bearing manufacturers known for its deep groove ball bearings and has a presence across the industrial & auto sector.  Auto & industrial have been contributing 50-50% to SKF’s topline over the years, with a slight tilt on either side depending on macros  SKF boasts a debt free balance sheet, coupled with consistent RoCE & RoICs upwards of 20%

SKF reported decent Q4FY22 results.  Revenue for the quarter came in at ₹ 1039 crore (I-direct estimate of ₹ 1038.9 crore), up 22.6% YoY and 7.4% QoQ  EBIDTA margins came in at 15.3% vs. 12.7% in Q3FY22. Absolute EBIDTA came in at ₹ 159.4 crore (I-direct estimate of ₹ 139.1 crore), up 29.4% QoQ  Ensuing PAT came in at ₹ 109.5 crore (I-direct estimate of ₹ 102.6 crore) compared to ₹ 104.9 crore in Q4FY21 and ₹ 88.8 crore in Q3FY22

Industrial Goods company SKF India announced Q3FY24 results:

• Revenue from operations of the Company for Q3FY24 was at Rs 10,923 million as compared to Rs 10,772 million in the previous year.
• Profit Before Tax (PBT) for Q3FY24 was Rs 1,770 million compared to Rs 1,797 million during the previous year.

Manish Bhatnagar, Managing Director, SKF India, said, “Given the mixed external environment, we delivered moderate revenue growth, achieving a 1% increase in revenue with a 2% decrease in PBT year-over-year. A resilient supply chain along with our focus on operational improvements and productivity enhancements enabled us to meet the customer needs and deliver value for our shareholders. To keep advancing our intelligent and clean growth strategy, we continue to focus on overall operational efficiency and investing for sustained and profitable growth, while enabling the transition to net zero. We remain committed to consistent strategy execution across the business and serving our customers to deliver improved margins and long-term value for our shareholders.”

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