Schaeffler India Limited has informed the Exchange about Transcript
SCHAEFFLER · price
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Schaeffler India reported Q2 CY'24 standalone revenue of INR 2,071 crores, crossing the INR 2,000 crore mark for the first time, with 13.3% YoY growth and 12% QoQ growth. EBITDA came in at INR 385 crores (18.6% margin, up from 18.3% in Q1), and PAT was INR 253 crores (12.2% margin). The Bearings and Industrial Solutions segment grew 16-17% YoY driven purely by volumes. Exports rebounded strongly with 15% YoY growth and 21% QoQ growth, helped by European demand recovery and India's cost competitiveness. Management highlighted new business wins across automotive, industrial, and railway segments, and confirmed the E-axle program is on track for H2 CY'24 launch. Working capital rose to 20.2% due to logistics delays, and capex intensity stood at 8.4% as part of the INR 1,500 crore 3-year investment plan announced in 2022.
Strong double-digit growth, record quarterly revenue, and margin expansion signal robust operational momentum, likely to be viewed positively by investors. The cautious tone on exports and the lack of clarity on the Vitesco India merger plan could temper enthusiasm slightly.