SKF India Limited has announced the appointment of M/s Samdani & Co, Chartered Accountants as Tax and GST Auditors for the Financial Year 2025-26. The decision was made by the Board of Directors on February 05, 2026, following recommendations from the Audit Committee.

Regulatory Compliance and Appointment Details

The appointment is mandated under Section 44AB of the Income Tax Act, 1961, which requires every company to appoint Chartered Accountants as Tax Auditors. The company has fulfilled this statutory requirement by selecting M/s Samdani & Co, Chartered Accountants (Firm Registration number 142734W).

About the Appointed Auditor

M/s Samdani & Co was established in 2016 and specializes in providing comprehensive audit and litigation services to businesses. The firm also offers advisory services designed to help organizations increase their operational efficiency and reduce finance costs. This expertise aligns with SKF India's requirements for conducting thorough tax and GST audits.

Regulatory Disclosure

The appointment has been disclosed in compliance with Regulation 30 of SEBI Listing Obligations and Disclosure Requirements (LODR). The disclosure follows the requirements outlined in Clause 7, Para A of Part A of Schedule III, along with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The company has provided all necessary details regarding the auditor appointment as required by regulatory guidelines, ensuring transparency and compliance with statutory obligations. This appointment represents SKF India's continued commitment to maintaining robust financial governance and regulatory compliance standards.

SKF India Limited announced its unaudited financial results for the third quarter and nine months ended December 31, 2025, marking a significant period following the completion of its industrial operations demerger. The Board of Directors approved the results at their meeting held on February 05, 2026.

Financial Performance Overview

The company's financial performance for Q3 FY26 reflects strong operational resilience post-demerger. During the quarter, the company reported standalone revenue from operations of ₹5,766.4 million with profit before exceptional items and tax at ₹964.4 million, demonstrating robust market demand despite challenging macro conditions.

For the nine months ended December 31, 2025, the company reported standalone revenue from operations of ₹15,350.5 million compared to ₹13,525.8 million in the corresponding period of the previous year, representing a growth of 13.50%.

Management Commentary and Strategic Focus

Speaking on the development, Shailesh Kumar Sharma, Managing Director of SKF India Limited, said, "Our performance this quarter, the first since the demerger, demonstrates steady demand across mobility segments and the strength of our operational fundamentals. We remain focused on supporting India's evolving automotive ecosystem, particularly in EV, two-wheelers, and safety-critical applications, through continued technology-led innovation and capacity expansion."

SKF Automotive remains focused on powering India's mobility transformation, with planned investments of ₹4,100–5,100 million by 2030 to expand manufacturing capacities across EV, two-wheeler, and wheel-end bearing segments at its facilities in Haridwar, Pune, and Bangalore.

EBITDA Performance Analysis

The company's EBITDA performance showed mixed results during Q3 FY26. While absolute EBITDA declined significantly to ₹824 million from ₹1.21 billion in the corresponding quarter of the previous year, the EBITDA margin improved substantially to 14.29% compared to 9.65% in Q3 FY25. This margin improvement indicates enhanced operational efficiency despite the overall decline in absolute profitability metrics.

Demerger Implementation

The company successfully completed the demerger of its Industrial Undertaking during the quarter. The National Company Law Tribunal (NCLT) Mumbai Bench approved the Scheme of Arrangement on September 26, 2025, with the effective date set as October 01, 2025.

Following the demerger, SKF India (Industrial) Limited ceased to be a subsidiary of the company. The resulting company's equity shares were listed on both BSE and NSE on December 05, 2025.

Exceptional Items and Regulatory Impact

The company reported exceptional items totaling ₹101.0 million for Q3 FY26, comprising two main components. The Government of India notified four Labour Codes on November 21, 2025, consolidating 29 existing labour laws. The company assessed the incremental impact of these changes, resulting in an exceptional charge of ₹24 million primarily related to gratuity due to changes in wage definition.

Additionally, the company incurred demerger-related expenses of ₹77 million during the quarter, including IT costs, professional services, and estimated transfer premium payable to statutory authorities for land transfer under the demerger scheme.

Discontinued Operations Impact

The financial results present the Industrial Undertaking as discontinued operations in accordance with Ind AS 105 requirements. For the nine months ended December 31, 2025, discontinued operations contributed ₹1,487.9 million to net profit, compared to ₹1,812.0 million in the corresponding period of the previous year.

The Board of Directors, based on the Audit Committee's recommendation, appointed M/s Samdani & Co. as Tax and GST Auditors for Financial Year 2025-26. The company continues to monitor developments related to the finalization of Central and State Rules under the new Labour Codes.