SKF India , a leading manufacturer of bearings and lubrication systems, has made several significant announcements following its recent board meeting. The company has approved its financial results and proposed a substantial dividend, along with key board appointments and corporate actions.

Financial Results and Dividend

The Board of Directors of SKF India has given its approval to the unaudited financial results for the fourth quarter and the audited annual financial results for the fiscal year that concluded on March 31, 2024. M/s. Deloitte Haskins & Sells LLP, the statutory auditors, have issued unmodified opinions on these financial statements, indicating their agreement with the company's financial reporting.

In a move that is likely to please shareholders, the Board has recommended a final dividend of Rs 130.00 per equity share for the financial year. This dividend, if approved by the members at the upcoming Annual General Meeting (AGM), will be paid within 30 days of the AGM.

Annual General Meeting and Record Date

SKF India has scheduled its 63rd AGM for August 13, 2024. In light of ongoing precautions, the meeting will be conducted via video conferencing. The company has set July 4, 2024, as the record date for both AGM participation and dividend eligibility.

Board Reappointments and New Appointments

The Board has approved the reappointment of two independent directors for second terms of five years each, subject to member approval through a postal ballot:

• Mr. Gopal Subramanyam
• Ms. Anu Wakhlu

Additionally, the company has appointed various auditors for the financial year 2024-25:

• Cost auditors
• Secretarial auditors
• Tax auditors

Postal Ballot for Key Appointments

SKF India has initiated a postal ballot process to seek shareholder approval on crucial appointments, including a new Managing Director and other directors. The e-voting for this process is scheduled from May 23 to June 21, 2024.

These announcements reflect SKF India's commitment to corporate governance, shareholder value, and strategic leadership. The proposed dividend, if approved, could signal the company's strong financial position and its dedication to rewarding shareholders. Meanwhile, the board reappointments and new auditor appointments underscore the company's focus on maintaining experienced oversight and ensuring financial transparency.

Investors and stakeholders will likely be keen to see the detailed financial results in the coming days to gauge the company's performance in the fourth quarter and the entire fiscal year 2023-24. The outcome of the postal ballot on key appointments could also have significant implications for the company's future direction and governance.

SKF India Limited , a leading manufacturer of bearings and related components, has announced its financial results for the first quarter of fiscal year 2026 and conducted its 64th Annual General Meeting (AGM) on August 6, 2025.

Q1 FY26 Financial Highlights

SKF India reported a mixed financial performance for the quarter ended June 30, 2025:

• Standalone revenue from operations increased to ₹12,831.50 million, up from ₹12,062.20 million in the same quarter last year, marking a 6.38% year-on-year growth.
• Standalone profit for the period decreased to ₹1,186.00 million, compared to ₹1,590.40 million in the previous year's quarter, representing a 25.43% decline.
• On a consolidated basis, profit stood at ₹1,182.10 million, down from ₹1,589.30 million in the corresponding quarter, showing a 25.62% decrease.
• Basic earnings per share (EPS) for the quarter were ₹24.00 for standalone results and ₹23.90 for consolidated results.

The company's statutory auditors, Deloitte Haskins & Sells LLP, issued limited review reports with unmodified opinions on both standalone and consolidated results.

64th Annual General Meeting

SKF India held its 64th AGM on August 6, 2025, via video conferencing. Key highlights from the meeting include:

• The AGM was attended by 68 shareholders, representing 2,60,93,636 shares.
• All resolutions set out in the AGM notice were approved by the shareholders with the requisite majority.
• The company declared a final dividend of ₹14.50 per equity share for the financial year ended March 31, 2025.

Business Presentation Highlights

During the AGM, Mr. Mukund Vasudevan, Managing Director of SKF India, presented the company's performance for FY 2024-25:

The company also highlighted its focus on innovation, customer-centricity, and environmental stewardship. SKF India emphasized its commitment to diversity and inclusion, with 39% of new hires in FY 2024-25 being women and achieving 17.5% gender diversity across the workforce.

Demerger Strategy

SKF India provided an update on its demerger strategy, which aims to separate its Automotive and Industrial businesses. The company stated that the demerger process is on track, with the implementation schedule spanning from Q4 CY24 to Q4 CY25, subject to necessary approvals.

The demerger is expected to allow both businesses to:

• Grow faster in their respective sectors
• Accelerate innovation and decision-making
• Tailor solutions to specific customer needs

Looking Ahead

SKF India remains focused on strengthening its performance through consistent revenue and profit growth, executing its intelligent, clean, and customer-centric strategy, and transforming into two fit-for-purpose organizations to unlock more value for stakeholders.

The company also announced plans for a plant visit for shareholders at its Chinchwad Plant in Pune on September 10, 2025, demonstrating its commitment to transparency and shareholder engagement.

As SKF India continues to navigate the evolving market landscape, it aims to leverage its strong market position and innovative solutions to drive growth across its business segments.