Schaeffler India Limited , a leading motion technology company, has announced robust financial results for the second quarter, showcasing sustained growth and improved profitability.

Key Financial Highlights

• Revenue from operations for Q2 stood at INR 22,821.00 million, marking a 10.1% increase year-over-year (YoY) and an 8.2% rise quarter-over-quarter (QoQ).
• Profit Before Tax (PBT) reached INR 3,980.00 million, up 17.1% YoY, with the PBT margin improving to 17.4% from 16.4% in the previous year's Q2.
• Net Profit for the quarter was INR 2,962.00 million, with a net profit margin of 13.0%.

Half-Year Performance

For the first half of the year (January-June):

• Revenue from operations grew by 12.0% YoY to INR 43,921.00 million.
• PBT increased by 16.7% YoY to INR 7,537.00 million, with the PBT margin expanding to 17.2%.
• Net profit reached INR 5,616.00 million, with the net profit margin improving to 12.8% from 12.3% in the same period last year.

Operational Highlights

Schaeffler India's performance was driven by broad-based growth across all business segments:

1. Automotive Technologies: Revenue grew by 13.3% YoY.
2. Vehicle Lifetime Solutions: Reported a strong 13.0% YoY increase.
3. Bearings and Industrial Solutions: Showed a modest 2.7% YoY growth.
4. Intercompany Exports and Others: Witnessed significant growth of 22.8% YoY.

The company's domestic business grew by 8% YoY, while maintaining a positive QoQ trend with a 6% increase.

Strategic Developments

Schaeffler India continues to focus on long-term growth through various initiatives:

1. New Manufacturing Facility: The company inaugurated its fifth manufacturing facility in Shoolagiri, Tamil Nadu, dedicated to producing conventional and electrified powertrain technologies.
2. E-Mobility Milestone: Schaeffler's e-Propulsion technology has been integrated into the Harrier.ev, showcasing the company's capabilities in electric drive systems.
3. Localization and Efficiency: The company's strategic priority on localization efforts has contributed to improved quality of earnings.

Management Commentary

Harsha Kadam, Managing Director and Chief Executive Officer of Schaeffler India, commented on the results: "I am pleased to share that we registered QoQ as well as YoY higher revenue across all businesses and continued to sustain on our trajectory of registering double-digit growth for the fifth consecutive quarter. Quality of earnings continued to improve given efficiency measures and concentrated efforts on our strategic priority of localization. This coupled with improved financial and operating metrics resulted in a good H1. We remain committed to delivering results and creating value for our stakeholders as we approach the remainder of the year."

Looking Ahead

With its strong performance in the first half, Schaeffler India is well-positioned to capitalize on the growing demand for motion technology solutions. The company's focus on innovation, localization, and operational efficiency is expected to drive sustainable growth in the coming quarters.

Investors and stakeholders can look forward to Schaeffler India's continued efforts in pioneering motion technology and creating value in the Indian market.

Schaeffler India Limited , a leading motion technology company, has announced its unaudited financial results for the second quarter and half-year, showcasing robust growth and improved profitability.

Financial Highlights

Q2 Performance

H1 Performance

Management Commentary

Mr. Harsha Kadam, Managing Director and Chief Executive Officer of Schaeffler India, expressed satisfaction with the company's performance, stating, "We registered QoQ as well as YoY higher revenue across all businesses and continued to sustain our trajectory of registering double-digit growth for the fifth consecutive quarter. Quality of earnings continued to improve given efficiency measures and concentrated efforts on our strategic priority of localization."

Board Meeting and Financial Review

The Board of Directors approved the unaudited standalone and consolidated financial results during their meeting. The financial statements were prepared in accordance with Indian Accounting Standard 34 and reviewed by statutory auditors Walker Chandiok & Co LLP, who found no material misstatements.

Director Resignation

The Board noted the resignation of Mr. Amit Kalyani from his position as Independent Director, effective from the close of business hours on July 23. The company had previously informed the stock exchanges about this resignation on the same day.

About Schaeffler India

Schaeffler India Limited, part of the global Schaeffler Group, brings 75 years of innovation in motion technology to the Indian market. The company operates through two main segments:

1. Mobility components and related solutions
2. Others

The mobility components segment contributes significantly to overall revenue. Schaeffler India operates:

• Five manufacturing plants in India (Pune, Savli, Maneja, Hosur, and Shoolagiri)
• Three R&D centers
• Seven sales offices

With a workforce of over 3,700 employees, Schaeffler India offers a comprehensive range of products and solutions in the mobility ecosystem, serving various segments with its engineering and motion technology expertise.

Investors and stakeholders can find more information about Schaeffler India on their website www.schaeffler.co.in .