Schaeffler India Ltd's Q1CY18 standalone PAT rises 15% yoy to Rs66cr, in-line with estimates

India Infoline Research Team | April 17, 2018 14:54 IST

The company’s standalone revenue stood at Rs521.19cr, up 13% yoy and 2.99% qoq.

Fag Bearings India Ltd Q1CY18

Standalone Results Q1CY18: (Rs. in cr)

Q1CY18 YoY (%)
Revenue 521.19 13
EBITDA 92.43 4.5
EBITDA Margin (%) 17.7 [145]
Net Profit (adjusted) 66.03 14.9
***EBITDA margin change is bps
View

Buy

Reco. Price

5314

Last updated on

10-Apr-2018



Schaeffler India Limited (Schaeffler) reported in-line numbers for Q1CY18. Standalone revenue for Q1CY18 was up 13% yoy at Rs521cr, marginally lower than consensus estimate of Rs531cr. EBITDA was up 5% yoy at Rs92cr, while EBITDA margin contracted 145bps yoy to 17.7%. Operating performance for the quarter was affected by higher input cost (up 168bps yoy to 60%) and higher operating and manufacturing expenses (up 40bps yoy to 14%). PAT was up 15% yoy at Rs66cr, in-line with street estimates. 

Other Highlights

  • Other income for the quarter was 58% higher yoy, while tax rate (at 33%) was steady on a yoy basis.
  • Company continued to remain debt-free as indicated by near-zero finance cost during the quarter.
  • Schaeffler is currently in the process of merging group entities INA Bearings India (INA) and LuK India (LuK) with itself. The initiative called “One Schaeffler” will result in the creation of a new entity of size Rs4,000cr.
  • Schaeffler’s revenues in CY17 were Rs1,900cr, and hence the merger will result in an entity nearly double the size of the current entity. The resulting cost synergy will also result in margin improvement for the combined entity. The said transaction is expected to be closed by Q3CY18.

Technical View:

Schaeffler India Ltd is currently trading at Rs. 5,298.15, up by 1.9 points or 0.04% from its previous closing of Rs. 5,296.25 on the BSE.
The scrip opened at Rs. 5,300 and has touched a high and low of Rs. 5,325 and Rs. 5,275 respectively. So far 9,271 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 100 DMA.


***Note: This is a NSE Chart

 

Advertisements

  • Save upto Rs.2.67 lakh with Pradhan Mantri Awas Yojana ...Know more
  • Now Save Rs.3150 on your Demat Account ...Click here
  • Now get IIFL Personal Loan in just 8* hours...APPLY NOW!
  • Get the most detailed result analysis on the web - Real Fast!
  • Actionable & Award-Winning Research on 500 Listed Indian Companies.