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SKF India reported Q1FY27 revenue of ₹588 crore

ICICIdirect Research 13 Aug 2026 DISCLAIMER

News: SKF India reported Q1FY27 revenue of ₹588 crore, broadly stable QoQ versus ₹595 crore in Q4FY26. EBITDA stood at ₹88 crore, with EBITDA margin at 15.0%, improving sharply from 5.6% in Q4FY26. PAT came in at ₹62 crore, versus a loss of ₹20 crore in Q4FY26. YoY comparison is not comparable due to the demerger, as the Industrial Undertaking was transferred to SKF India (Industrial) Ltd. effective October 1, 2025.

View: SKF India delivered a meaningful sequential improvement in profitability, with EBITDA margin at 15.0%, supported by better operating performance and a favourable cost mix. The key positive is that margins have moved closer to the company’s normalised level, despite the ongoing post-demerger transition.We see margin recovery and improvement in quality of earnings as the key monitorables, with localisation/capex expected to support growth and reduce reliance on inter-entity sourcing over the medium term.

Impact: Positive

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