Pursuant to Regulation 30 and 46 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith the transcript of audio call recording of the Company s Investor meeting held on Wednesday, 13th May 2026 at 3:00pm (IST) to discuss the results for quarter and year ended March 31, 2026.
SKFINDUS · price
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SKF India (Industrial) reported Q4 FY26 sales of INR 9.5 billion, up 9.8% QoQ. Profit before tax was 9.5% but normalized to 11.5% after excluding INR 183 million demerger-related costs (vs 13.1% in Q3). OEM mix increased to 50% from 46%, pulling margins down due to lower OEM margins vs distribution. Wind business surged 91% QoQ driven by ZF and Suzlon orders; metals and rail also performed well. Management guided margin recovery to ~13% by end of CY2026 once demerger costs normalize, with a long-term aspiration of 15% by FY29-30 (16-18% possible but not committed). Raw material inflation of 3-4% is being passed on via price increases. Capex plan of INR 800+ crores over FY26-30 includes a new Pune plant commissioning by end of CY2028. Growth is expected to continue at around 8% in the interim period.
The company delivered solid growth but margin compression from higher OEM mix and demerger costs is a near-term headwind. Long-term margin targets are modest (15%) given competitive pressures and new plant investments, though localization efforts may provide leverage over time.