- Sales were down by 13% to Rs 1036.47 crore. Downside in revenue was largely due to sharp fall in revenue of mobility components & related solutions (MCRS). The segment revenue of MCRS was down by 15% to Rs 813.95 crore (or 79% of sales). The segment revenue of others was down by 5% to Rs 222.52 crore (or 21% of sales)with positive results from wind partially offset demand drop in other industrial sectors.
- EBIT was down by 18% to Rs 109.51 crore hit by lower profit from MCRS business. Segment profit of MCRS was down by 36% to Rs 73.95 crore hit by lower sales as well as 300 bps contraction in segment margin of it to 9.1%. However despite lower sales the segment profit of others was up by 95% to Rs 35.56 crore, facilitated by 820 bps expansion in segment margin to 16%.
Sales for the period were down by 4% to Rs 4360.63 crore. But with OPM contract by 170 bps that together with lower sales resulted in 14% fall in operating profit to Rs 633.59 crore. The other income was down by 30% to Rs 63.21 crore and thus the PBIDT was down by 16% to Rs 696.80 crore. With interest stand lower by 51% to Rs 3.47 crore and depreciation down by 7% to Rs 158.71 crore, the PBT was down by 21% to Rs 534.62 crore. With taxation down by 21% to Rs 166.64 crore, the net profit was eventually down by 12% to Rs 367.64 crore.
Segment profit of MCRS was down by 29% to Rs 364.09 crore hit by lower sales (down 7% to Rs 3501.59 crore) and 320 bps contraction in segment margin to 10.4%. The segment profit of others was up by 50% to Rs 115.78 crore powered by higher sales (up 9% to Rs 859.04 crore) as well as 370 bps expansion in segment margin to 13.5%.
The Scheme of Amalgamation of INA Bearings India Private Limited (INA) and LuK India Private Limited (LuK) (jointly referred to as transferor companies) with Schaeffler India Limited (the Scheme), was approved by the National Company Law Tribunal, Chennai and Mumbai Benches vide their orders dated June 13, 2018 and October B, 2018 respectively. Accordingly impact of the Scheme has been given effect from appointed date (i.e. January 1, 2018) in above financial results.
The BoD declared a dividend of Rs 35 per equity share of Rs 10 face value for the year ended Dec 31, 2019.
Schaeffler India: Results
|1912 (3)||1812 (3)||Var. (%)||1912 (12)||1812 (12)||Var. (%)|
|PBT after EO||124.11||156.85||-21||534.28||631.70||-15|
|* EPS is on post bonus current equity of Rs 31.26 crore, Face value of Rs 10|
# EPS is not annualised due to seasonality of business
Figures in Rs crore
Source: Capitaline Corporate Database
Schaeffler India: Segment Results
|Segment||1912 (3)||1812 (3)||Var. (%)||% to total||1912 (12)||1812 (12)||Var.(%)||% to total|
|Mobility Components & Related Solutions||813.95||952.97||-15||79||3501.59||3773.20||-7||80|
|Inter Segment Revenue|
|Mobility Components & Related Solutions||73.95||114.78||-36||68||364.09||513.76||-29||76|
|LESS: Interest expenes||1.06||2.70||-61||3.47||7.04||-51|
|Add: Unallocable Income||15.66||26.54||-41||58.22||90.80|
|Other income & unallocable expenses||0.34||43.20|
|Note: Figures in Rs crore|
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