Schaeffler India informed stock exchanges that its Cost Auditor, M/s. Y. S. Thakar & Co., resigned effective October 8, 2026, due to preoccupation.

The resignation was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The firm, holding Firm Registration Number 000318, had been associated with the company for more than 15 years in this capacity and other matters.

Resignation Details

In a letter dated October 8, 2026, the firm stated it could no longer render professional services as Cost Auditor starting from the year 2026. The company acknowledged the resignation and noted that the firm cited preoccupation as the primary reason for stepping down.

The disclosure included specific details required by SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The cessation date is recorded as October 8, 2026.

Professional Association

Y. S. Thakar & Co. expressed regret for any inconvenience caused to the company's team. The firm highlighted the cooperation and support extended by Schaeffler India during their tenure, noting they maintained high levels of professionalism and independence.

The letter signed by Shivam Dhananjay Dave, Partner of the firm, emphasized the long-standing trust reposed in them during the association. They remain open to future professional engagements with the company.

Schaeffler India Limited has released the transcript of its investor group meeting held on September 28, 2026, following the earlier disclosure of the audio recording. The transcript was filed with stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The meeting featured Managing Director and Chief Executive Officer Harsha Kadam, Director Finance and Chief Financial Officer Hardevi Vazirani, and Head of Investor Relations Gauri Kanikar. The session was conducted as an open question-and-answer format with institutional investors.

Meeting schedule

The day comprised one-on-one sessions with prominent fund houses followed by a large group meeting with multiple institutional investors.

Exports and localization strategy

On the topic of exports, Vazirani noted that the current export mix comprises approximately 50% to intercompany partners in Europe, 25% to Southeast Asia, and the remainder to China and the Americas. Kadam added that the company's export strategy is a subset of its localization strategy, with overall localization at approximately 80%. Automotive localization stands at 90%, while industrial localization is in the range of 65% to 70%. Notably, 13% of exports go to China. Management indicated that exports are expected to remain between 15% and 20% of business as the domestic market grows at 14% to 15%.

On commodity cost pass-through, management indicated that steel price increases are handled through indexed formulas built into contracts. Vazirani noted that historically approximately 70% of input cost increases are recovered from customers, with the remaining 30% absorbed through operational efficiencies and localization.

Capacity expansion and key growth sectors

Management discussed ongoing expansion at the Shoolagiri greenfield facility, where a second hall building is under construction and a new production line is being brought in from Europe. In Savli, Hall 3 construction has begun, focused purely on the wind segment. The company has produced its first 1.6-metre bearing, designed for 6-megawatt wind turbines.

On railways, Vazirani noted that the segment contributes approximately 13% to 14% of revenue and has been delivering at least double-digit growth. Kadam highlighted growth drivers including locomotive electrification, upgradation of freight and passenger trains, and new product portfolios covering axle boxes, traction motors, and gearboxes.

Vazirani stated that based on year-to-date June performance, the company will cross ₹10,000 crore in revenue, and that this scale of business can absorb the cost of capital of new products.

E-mobility and Vitesco integration

On e-mobility, Kadam noted that EV adoption in India is currently below 5% and that research data indicates it will reach approximately 15% by 2030-31. The company is present across ICE, hybrid, and EV segments. The e-axle currently has 100% import content at Phase 1, with Phase 2 localization involving sub-component assembly already underway. Phase 3 will involve local sourcing of child parts, with supplier development ongoing.

On the Vitesco integration, Vazirani clarified that there is no fundamental hurdle to legal integration, but that the global group must integrate Vitesco entities worldwide, with private companies being easier to integrate before listed entities. The company's promoter holding stands at 74.13%, leaving 26% as public float, which constrains the steps required before legal integration. No timeline has been provided for the merger.

Book-to-bill and order visibility

Kadam explained that the company tracks a book-to-bill ratio as a key metric for growth visibility. A ratio above one indicates sufficient new business pipeline to sustain growth, while a ratio below one signals the need to accelerate business acquisition. Project probability is tracked at 25%, 50%, and 75% stages, with customer development cycles typically spanning one to three years.

Compliance and disclosure

The transcript disclosure was filed on October 5, 2026, and signed by Ashish Tiwari, General Counsel and Company Secretary. The company confirmed that no Unpublished Price Sensitive Information was shared during the meetings, ensuring equal access to information for all investors. The initial meeting schedule communication was signed on September 22, 2026, and the audio recording disclosure was filed on September 29, 2026.