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Schaeffler India Limited — Earnings Release 2021
Apr 26, 2021
61541_rns_2021-04-26_e7497576-34e9-4a7d-8451-c14d1f42008d.pdf
Earnings Release
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Schaeffler India Limited · Pune · Maharashtra
BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C - 1, Block G, Dalal Street, Bandra-Kurla Complex, Bandra (E) MUMBAI- 400 001 MUMBAI- 400 051
Company Code: 505790 Company Code: SCHAEFFLER
26/04/2021
Sub: Press Release
Dear Sirs,
Further to our letter dated April 26, 2021 for Unaudited Financial Results of the Company for the quarter ended March 31, 2021, we enclose herewith Press release.
Phone: +91 8669613701
Kindly take the same on your record. Thanking you. Yours faithfully,
For Schaeffler India Limited
Ashish Digitally signed by Ashish Tiwari Date: 2021.04.26 Tiwari 18:12:30 +05'30' Ashish Tiwari, VP - Legal & Company Secretary
Encl.: As above
Schaeffler India Limited
Corporate Office: 15th Floor, (ASTP) Amar Sadanand Tech Park, Baner, Pune-411045, Maharashtra, Registered office: Nariman Bhavan, 8th Floor, 227 Backbay Reclamation, Nariman Point, Mumbai 400 021, Maharashtra, India, Phone +91 22 6681 4444, Fax +91 22 2202 7022, www.schaeffler.co.in, [email protected], CIN: L29130MH1962PLC012340 ·
Press Release
Schaeffler India Limited announces Q1 results for the period ended March 31, 2021
Pune | 26 April, 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 first quarter ended March 31, 2021.
January – March 2021 (First Quarter)
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Total revenue from operations (net) for the quarter (Q1) was INR 13,168 million, higher by 41.8% than the corresponding quarter of 2020 and 3.4% higher than the preceding quarter (Q4’20).
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PBT (before exceptional items) for the quarter (Q1) was INR 1,860 million, 69.0% higher than the corresponding quarter of 2020 and lower by 2.7% than the preceding quarter (Q4’20). PBT margin for the quarter stood at 14.1%, against 11.9% during the corresponding quarter of 2020.
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Net Profit margin for the quarter stood at 10.6% .
Commenting on the results, Mr. Harsha Kadam, Managing Director, said, “After a strong come back in the second half of 2020, we posted another strong quarter aided by the continued demand uptick and new business wins. While the revenues during the quarter have been one of the best so far, rising commodity costs put pressure on margins, while we continue our focus on cost discipline. The external scenario is quite volatile as the second wave of Covid19 is not showing any signs of ebbing and that can potentially disrupt trade and dampen consumer spirits. We are monitoring the situation closely and we hope that the demand scenario continues its momentum.“
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 37.6 billion in 2020 and around 2,794 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.
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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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For further information
Vijay Chaudhury, Head – Corporate Communications and Investor Relations, Schaeffler India Limited Tel: +91 (20) 3061 4221 / +91 91686 84744 Email: [email protected]
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