Schaeffler India Limited announces Q1 results for the period ended March 31, 2021

Leading industrial and automotive supplier, Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER) today announced that the Board of Directors approved the results for the first quarter ended March 31, 2021.

January - March 2021 (First Quarter)

- Total revenue from operations (net) for the quarter (Q1) was INR 13,168 million, higher by 41.8% than the corresponding quarter of 2020 and 3.4% higher than the preceding quarter (Q4'20).

- PBT (before exceptional items) for the quarter (Q1) was INR 1,860 million, 69.0% higher than the corresponding quarter of 2020 and lower by 2.7% than the preceding quarter (Q4'20). PBT margin for the quarter stood at 14.1%, against 11.9% during the corresponding quarter of 2020.

- Net Profit margin for the quarter stood at 10.6%.

Commenting on the results, Mr. Harsha Kadam, Managing Director, said, "After a strong come back in the second half of 2020, we posted another strong quarter aided by the continued demand uptick and new business wins. While the revenues during the quarter have been one of the best so far, rising commodity costs put pressure on margins, while we continue our focus on cost discipline. The external scenario is quite volatile as the second wave of Covid19 is not showing any signs of ebbing and that can potentially disrupt trade and dampen consumer spirits. We are monitoring the situation closely and we hope that the demand scenario continues its momentum."

Shares of Schaeffler India Ltd was last trading in BSE at Rs.5199 as compared to the previous close of Rs. 4994.45. The total number of shares traded during the day was 303 in over 168 trades.

The stock hit an intraday high of Rs. 5250 and intraday low of 4990.8. The net turnover during the day was Rs. 1547228.

Source : Equity Bulls

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