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 Q2FY24 results:
Revenue from operations of the Company for Q2FY24 was at Rs 11,252 million as compared to Rs 10,783 million in Q2FY23.
Profit Before Tax (PBT) for Q2FY24 was Rs 1,220 million compared to Rs 2,075 million during Q2FY23.
Manish Bhatnagar, Managing Director, SKF India, said, “As the external environment remained mixed this quarter, we have delivered moderate revenue growth, achieving a 4% increase in revenue with a 41% decrease in PBT year-over-year. The increase in import costs adversely impacted our margins in this quarter. However, a normalized supply chain continues to help improve our overall operational efficiency. Looking ahead, we will continue to maintain our focus on operational improvements and productivity enhancements to sustain through this dynamic period. We are confident of systematically advancing our intelligent and clean growth strategy to sustain the long-term growth momentum. Our strong business fundamentals, coupled with the right talent, and alignment with customers’ evolving needs, position us firmly to deliver improved margins and create value for all our shareholders.”
Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Dec 08, 2023 03:53 PM, the market cap of SKF India Ltd stood at ₹ 22,587.98.