Manufactures bearings — primarily tapered roller bearings and deep groove ball bearings — for industrial customers in India from a Pune base. In FY26, 51% of sales went to OEMs (wind gearbox maker ZF, wind OEM Suzlon, railway customers, metals firms Tata Steel and SAIL, and tractor OEMs), 35% through distribution, 6% as exports and 4% as intragroup sales to other SKF group entities. Q4 FY26 sales reached ₹950 crore, up 9.8% QoQ, with the wind sector growing 91% sequentially on ZF and Suzlon deliveries and railway demand also strengthening. Tapered roller bearing capacity at the existing Pune plant was raised from 600,000 to 886,000 pieces, with product cost down 18%, reset time down 20% and new-product lead time improved 35%. A new Pune greenfield plant is being built with ₹800 crore of capex spread over FY26–FY30 for commissioning by end-CY2028. Localisation stands at around 60% and 97% of energy use is renewable; materials (mainly steel) are the biggest cost line at 16.4% of revenue. The company began independent trading on BSE and NSE on 5 December 2025 after being demerged from SKF India Limited. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. OEM sales (51%), Distribution (35%), Exports (6%), Intragroup sales (4%). Asset-heavy bearings manufacturer, recently demerged standalone entity
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 3,440 |
| EBITDA (ex other income) | 194 |
| margin % | 5.6 |
| Owners' profit | 218 |
| EPS, as reported (₹) | 44.00 |
| ROE % · ROCE % | 14.7 · 14.9 |
| Debt / equity (x) | 0.00 |
| Cash from operations | 171 |
| Capex | (94) |
| ₹ crore | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 861 | 946 | 971 |
| Profit before tax | (67) | 90 | 87 |
| Net profit | (50) | 119 | 62 |
| EPS (₹) | (10.10) | 24.10 | 12.52 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TIMKEN INDIA LTD. | 24,839 | 74.7 | 8.52 | 37.1 | 14.2 | 18.4 | — | 20.0 |
| GRINDWELL NORTON LIMITED | 21,369 | 40.3 | 8.38 | 31.9 | 16.3 | 20.7 | 13.4 | 22.6 |
| CARBORUNDUM UNIVERSAL LTD | 20,507 | 97.2 | 5.12 | 39.0 | 4.2 | 5.9 | 14.6 | 12.6 |
| SKF IND (INDUSTRIAL) LTD ◆ | 14,417 | 110.0 | 9.76 | — | 14.7 | 14.9 | — | 10.1 |
| WENDT (INDIA) LIMITED | 1,769 | 104.4 | 6.97 | 46.3 | 5.7 | 8.9 | 11.6 | 17.6 |
| GALAXY BEARINGS LTD. | 291 | 36.3 | 2.64 | — | 3.0 | 4.1 | — | 29.7 |
| NRB INDUS. BEARINGS LTD. | 81 | — | — | — | 53.4 | (75.7) |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Postal ballot for MD redesignation and new director appointment | board shareholder meetings | medium | — | — |
| 1 Sept 2026 · Sujeeth Pai elevated to Managing Director of SKF India from Sept 1 | management changes | high | — | — |
| 1 Sept 2026 · MD Mukund Vasudavan steps down, moves to Non-Executive Director role | management changes | medium | — | — |
| 1 Sept 2026 · Managing Director Mukund Vasudevan resigns effective 31 August 2026 | management changes | high | — | — |
| 19 Aug 2026 · SKF India Industrial Q1 FY27 earnings call transcript filed | investor communications | low | — | — |
| 14 Aug 2026 · Q1 FY27 Investor Presentation: Revenue Up 18.3% YoY at INR 9,708 MN | investor communications | medium | — | — |
| 13 Aug 2026 · 2nd AGM concludes; all 12 resolutions passed, Rs.10 final dividend approved | board shareholder meetings | low | — | — |
| 13 Aug 2026 · SKF India Industrial 2nd AGM proceedings, all 12 resolutions passed | board shareholder meetings | medium | — | — |
| 13 Aug 2026 · SKF India (Industrial) appoints Sujeeth Pai as new Managing Director | compliance | low | — | — |
| 13 Aug 2026 · SKF India Industrial appoints Sujeeth Pai as new MD effective Sep 1 2026 | compliance | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 6.0 |
| (4.0) |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 110.0 | 18.8 | 350 of 366 | 4% |
| P/B | 9.8 | 2.1 | 296 of 315 | 6% |
| ROCE | 14.9 | 9.6 | 114 of 382 | 70% |
| ROE | 14.7 | 8.7 | 73 of 343 | 79% |
| Debt / Equity | 0.0 | 0.2 | 22 of 343 | 80% |
| EBITDA margin | 10.1 | 11.9 | 192 of 317 | 40% |
| Market cap | 14417 | 226 | 28 of 382 | 93% |
| A state: the latest filed quarter and the measured reactions |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
