SKF India has corrected a typographical error regarding the signing date of its Consolidated Auditor's Report for the quarter and year ended March 31, 2026. The company submitted the clarification to the National Stock Exchange (NSE) on June 3, 2026, in response to a query about the report not adhering to the prescribed format.

The filing addressed an inadvertent error where the signing date was previously recorded as May 12, 2026. The company confirmed that the correct date of signing is May 13, 2026. This correction is supported by the Unique Document Identification Number (UDIN) generated for the report, which reflects the accurate generation date.

Rectification Details

The company provided an updated version of the Consolidated Auditor's Report incorporating the corrected date. It also submitted a screenshot of the UDIN as verification. The document was signed by Mayuri Kulkarni, Company Secretary & Compliance Officer.

The original financial results were approved by the Board of Directors on May 13, 2026, pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

SKF India reported a 14.8% year-on-year increase in net sales to ₹5,550 million for the quarter ended March 31, 2026, driven by higher volumes in the automotive segment. Despite the revenue growth, the company's Profit Before Tax (PBT) margin contracted to 9.0% due to one-off factors in the prior quarter and costs related to the demerger of its industrial undertaking. Management has provided guidance targeting a sustainable PBT margin of 11-12% in the near term, supported by strategic capital investments and a focus on premiumization.

Q4 FY26 Financial Performance

For the quarter, the company achieved its highest quarterly sales of the financial year at ₹5,550 million, reflecting a 3% quarter-on-quarter growth and 14.8% year-on-year growth. The sales performance was primarily led by Original Equipment Manufacturers (OEM), which accounted for 66% of the revenue mix, followed by Distribution at 20%. SKF Industrial and Exports contributed 6% and 8%, respectively. PBT for the quarter stood at ₹534 million, excluding exceptional items, compared to ₹1,107 million in the corresponding period of the previous year.

*Excludes exceptional items.

Full Year Performance and Margins

For the full year FY26, net sales grew by 12.7% to ₹20,304 million from ₹18,007 million in FY25. However, full-year profitability faced pressure, with PBT excluding exceptional items dropping to ₹2,621 million from ₹3,552 million in the previous year. Consequently, the PBT margin for the year contracted to 12.3% from 19.2% in FY25. Management attributed the margin compression to a mix of factors, including product mix, discounts, and one-off costs associated with the demerger process.

Operational Highlights and Strategy

The company reported a cash conversion ratio of 85% for the year, with net cash flow from operations at ₹4,058 million. Net working capital improved by 3.7% year-on-year. Management outlined its strategic priorities under the 'RACE' framework, focusing on energy efficiency, accelerating growth through commercial excellence, and capacity development. The company plans a total capital expenditure of INR 500 crore between FY26 and FY28, with approximately INR 200 crore earmarked for FY26-27 to reduce dependency on traded goods and enhance localization.