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Stock Report
Schaeffler India Ltd announces Q4 and full year results for the period ended December 31, 2023
Posted On : 2024-02-16 19:45:27( TIMEZONE : IST )
Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER), the Motion Technology Company, today announced that the Board of Directors approved the results for the fourth quarter and full year ended December 31, 2023.
September - December 2023 (Fourth Quarter Standalone Results)
- Revenue from operations (net) for the quarter (Q4 CY2023) was INR 18,551 million, higher by 3.4% than the corresponding quarter of 2022 and 0.4% higher than preceding quarter (Q3 CY2023)
- PBT (before exceptional items) for the quarter (Q4 CY2023) was INR 3,005 million, 2.9% lower than the corresponding quarter of 2022. PBT margin for the quarter stood at 16.2%, compared to 17.2% during the corresponding quarter of 2022
- Net Profit for the quarter was INR 2,174 million and net profit margin stood at 11.7% compared to 12.9% during the corresponding quarter of 2022
January - December 2023 (Full Year Standalone Results)
- Revenue from operations (net) for the year was INR 72,261 million, higher by 5.2% than the corresponding period of 2022
- PBT (before exceptional items) for the year was INR 12,284 million, higher by 5.7% than the corresponding period of 2022. PBT margin for the year stood at 17.0%, compared to 16.9% during the corresponding period of 2022
- Net profit for the year was INR 9,090 million and net profit margin stood at 12.6% compared to 12.8% during the corresponding period of 2022
Commenting on the results, Mr. Harsha Kadam, Managing Director, said, " Our balanced business portfolio, backed by conituned momentum in our key sectors helped sustain revenues for the quarter. Despite the adverse export mix, our annual performance was aided by our domestic businesses and trajectory of business wins across sectors. Our continued focus on efficient utlization of resources and productivity measures helped in sustaining the quality of earnings. Our robust cash generation and capex realization continues to remain in focus. Entering 2024 with an uptick from some of the market sectors, with committed efforts to leverage the market growth continues. Our consistent approach towards dividend payment reinforces our commitement to long term value creation. We wish to thank all our stakeholders for their confidence and continued support."
