Schaeffler

Industrial and automotive parts maker Schaeffler India on Thursday announced a 21 per cent growth in net profit at Rs 231 crore in the fourth quarter of 2022. The company had posted a net profit of Rs 190.64 crore in the same quarter of the preceding calender year, according to a regulatory filing. Schaeffler India follows the calendar year (January-December period) for financial reporting. The revenue from operations for the quarter under review stood at Rs 1,794.70 crore, up 17.8 per cent from Rs 1,523.22 crore in the same quarter of 2021. During the year 2022, the company's net profit stood at Rs 879.20 crore from Rs 629.12 crore in the year earlier, registering a growth of 40 per cent, as per the filing. Total revenue from operations during the reporting year was Rs 6,867.42 crore as compared to Rs 5,560.51 crore in 2021. "Our quarterly growth momentum continued on the back of favourable sales mix and our emphasis on deploying sustainable countermeasures to enable a strong qu

CLOSING BELL: The BSE Sensex hit a fresh calendear year high at 61,682, before forfeiting most gains at close. Midcap, Smallcap indices gained nearly a per cent Thursday.

Ball-bearing maker expects gains on margin front in the second half of FY23

Bharat Dynamics, JK Paper and Hindustan Aeronautics have surged over 100 per cent, while Elgi Equipments and Schaeffler India are just shy from doubling the investor's wealth so far in 2022.

Shares of Schaeffler India soared 10 per cent to hit a new high in Monday's intra-day trade. The stock has surged 16 per cent in the last four days.

In Q1CY22, the company's profit after tax jumped 48 per cent year-on-year(yoy) to Rs 207 crore from Rs 140 crore in Q1CY21.

Higher content per vehicle, steady aftermarket and exports are growth drivers

Localisation, industrial segment to offset some pressure

However, the CCI added it had decided not to impose a penalty, saying the "ends of justice would be met if the parties cease such cartel behaviour and desist from indulging in it".

The combined entity becomes a leading automotive and industrial supplier with over Rs 41 billion in annual revenues

Industrial and automotive component supplier Schaeffler AG today announced an investment of Rs 200 crore to set up a manufacturing unit at Talegaon, Pune, along with a new research and development unit. The new production facility of the company's arm NA Bearings Pvt Ltd, will manufacture engine and transmission components, serving domestic and exports markets, the company said in a statement. The R&D facility will focus on enhancing product development and engineering capabilities driving innovation for customers, it added. Commenting on the development, Schaeffler India CEO Dharmesh Arora said, "We see exceptional opportunities (in India) as the economy strengthens in the near to mid term and mobility environment continues to evolve for technology suppliers like Schaeffler." This new facility will help the company add capacity and enhance product portfolio to serve our customer needs of future, he added. "This investment is part of our larger strategic growth plan

Share of auto segments, complete systems offerings to help margins

Schaeffler India will issue 10 equity shares to shareholders of INA India