Schaeffler India Limited , a leading industrial and automotive supplier, has announced its financial results for the first quarter ended March 31, 2024, showcasing robust growth and operational restructuring.

Financial Highlights

Operational Performance

The company's domestic business demonstrated strong growth, increasing by 12.4% year-on-year. This growth was primarily driven by:

• Two-wheelers segment: 25.6% growth
• Passenger vehicles segment: 11% growth

However, the commercial vehicles and tractors segments showed muted performance during the quarter.

Export Business

While the export business experienced a sequential improvement of 19.6% quarter-on-quarter, it remained 7.6% lower compared to the same period last year.

Restructuring and Strategic Initiatives

Schaeffler India has restructured its operations into four key divisions:

1. E-Mobility
2. Powertrain and Chassis
3. Vehicle Lifetime Solutions
4. Bearings and Industrial Solutions

This restructuring aims to align the company's operations with evolving market demands and technological trends.

Investments and Cash Flow

The negative free cash flow and increased working capital indicate ongoing investments in the company's growth and operations.

Customer Recognition

Schaeffler India's commitment to quality and technology support has been recognized by key customers. The company received awards from:

• TAFE (Tractors and Farm Equipment Limited)
• John Deere

These accolades underscore Schaeffler's strong relationships with major players in the agricultural machinery sector.

Conclusion

Schaeffler India's Q1 2024 results reflect a company in transition, with strong domestic growth in key segments offsetting challenges in others. The operational restructuring and continued investments suggest a focus on long-term strategic positioning in the evolving automotive and industrial markets.

Schaeffler India Limited , a leading motion technology company, has announced a significant expansion of its large industrial bearings product line, reinforcing its commitment to local manufacturing and the 'Make in India' initiative. The company has introduced locally manufactured spherical roller bearings, cast steel housings, and accessories, marking a substantial growth in its industrial bearings segment.

Expansion Details

The expansion includes the addition of Made-in-India large size Spherical Roller Bearings (SRBs), Cast Steel Housings, and accessories to Schaeffler India's existing industrial portfolio. These new products are manufactured at the company's advanced facility in Savli, Gujarat, showcasing Schaeffler's dedication to enhancing its domestic production capabilities.

Product Specifications

Spherical Roller Bearings (SRBs)

• Target outer diameters up to 720 mm
• Available across series 222, 223, 230, 231, 240, and 241
• Manufactured with X-life quality standards
• Offer higher dynamic and static load ratings
• Provide improved performance, reduced friction, and extended service life

Cast Steel Housings

• Designed for superior strength and durability under extreme conditions
• Feature advanced sealing and internal lubrication groove
• Include provisions for mounting vibration & temperature sensors and auto-lubricators

Industry Impact

This expansion is set to benefit key industrial sectors in heavy industry, supporting applications such as:

• Conveyors
• Stacker reclaimers
• Gearboxes
• Crushers
• Pulping systems

The new product line targets core sectors including Steel, Cement, Mining, Power Plants, and Pulp & Paper industries.

Strategic Importance

Mr. Seshan Iyer, President of Bearings and Industrial Solutions at Schaeffler India, emphasized the strategic importance of this launch: "This launch reflects Schaeffler's commitment to Make-in-India & our continued focus on manufacturing excellence combined with local engineering and Research & Development capability. By localizing the manufacturing of these critical components, we are making our solutions more accessible, economical, and responsive to the needs of Indian industry."

Comprehensive Solution Suite

Schaeffler India now offers a complete solution suite that includes:

• Bearings
• Housings
• Adapter and withdrawal sleeves
• Advanced sealing solutions
• Lubricants
• Condition monitoring systems

This comprehensive offering positions Schaeffler as a trusted, single-window partner for motion solutions in the industrial sector.

Alignment with National Initiatives

The expansion aligns with the Government of India's "Make in India" initiative, reflecting Schaeffler's long-standing commitment to supporting the evolving needs of Indian industry with future-ready motion technologies. This move is expected to enhance accessibility, affordability, and responsiveness to the local market demands.

As Schaeffler India continues to invest in localized manufacturing and application engineering capabilities, it strengthens its position as a key player in India's industrial technology landscape, offering innovative and efficient solutions to meet the growing demands of various sectors.