Schaeffler India Q3FY22 PAT up 26.1% at Rs215.36cr on sharp growth in operating profits in mobility business

19 Oct 2022 , 10:07 AM

Schaeffler India reported 18.07% growth in total sales revenues for the September 2022 quarter on consolidated basis at Rs1,756.43cr. Sequential revenues were up 0.43%.

For the September 2022 quarter, Schaeffler reported 28% growth in automotive technologies vertical, 3.8% growth in automotive aftermarket, 26.8% growth in the industrial vertical and an overall growth in exports of 60.7%.

During the previous fiscal year ended FY22, the company had completed a stock split of Rs10 par value to Rs2 par value; expanding the equity shares by 5 times in the process. It also sold its chain drive business during the year.

Consolidated Profit after tax (PAT) for September 2022 quarter was up 26.07% while the profits were down -4.6% sequentially.

The operating profits from the mobility components (pertaining to the EV businesses) was the big driver of operating profits at 37.4% at Rs201.97 crore for the quarter. The company also gained from an overall revival in the automotive industry demand worldwide, especially the EV segment.

Net margins came in at 12.26% for Q3FY22 as compared to 11.48% in the year ago quarter and 12.91% in the sequential June 2022 quarter. In Q2, it had Rs15 crore exceptional gain from slump sale.

Financial highlights for Sep-22 compared yoy and sequentially

	Schaeffler India
Rs in Crore	Sep-22	Sep-21	YOY	Jun-22	QOQ
Total Income (Rs cr)	₹ 1,756.43	₹ 1,487.58	18.07%	₹ 1,748.83	0.43%
Net Profit (Rs cr)	₹ 215.36	₹ 170.82	26.07%	₹ 225.75	-4.60%
Diluted EPS (Rs)	₹ 13.80	₹ 10.90		₹ 14.40
Net Margins	12.26%	11.48%		12.91%