Schaeffler India stock zooms ~5% post robust financial earnings: Board recommends dividend of Rs16

17 Feb 2022 , 09:16 AM

Leading industrial and automotive supplier, Schaeffler India Limited has announced that the Board of Directors approved the results for the fourth quarter and full year, ended December 31, 2021.

On Thursday morning trade, Schaeffler India was trading higher by 4.7% at Rs1708 per piece on Sensex.

October — December 2021 (Fourth Quarter)

• Total revenue from operations (net) for the quarter (Q4 CY2021) was Rs15,232 million, higher by 19.6% than the corresponding quarter of 2020 and 2.4% higher than preceding quarter (Q3 CY2021)
• PBT (before exceptional items) for the quarter (Q4 CY2021) was Rs2,569 million, 34.4% higher than the corresponding quarter of 2020 and 11.9% higher than the preceding quarter (Q3 CY2021). PBT margin for the quarter stood at 16.9%, compared to 15.0% during the corresponding quarter of 2020
• Net Profit for the quarter was Rs1,906 million and net profit margin stood at 12.5%

January — December 2021 (Twelve Month / Full Year)

• Total revenue from operations (net) for the year was Rs55,605 million, higher by 47.8% than the corresponding period of 2020
• PBT (before exceptional items) for the year was Rs8,431 million, higher by 112.2% than the corresponding period of 2020
• Net profit for the year was Rs6,291 million and net profit margin stood at 11.3%
• The Board of Directors of the Company has recommended a dividend for the year ended December 31, 2021 at the rate of Rs16 per equity share of face value Rs2 each (2020: Rs38.0 per equity share of face value Rs10 each)

Commenting on the results, Harsha Kadam, Managing Director, said, “We saw the growth momentum continuing in Q4 with improved earnings quality due to sustained growth across businesses and better sales mix. New projects realization in automotive business, sector focus in industrial business and deployed countermeasures enabled achieving the resultsfor the quarter.

During the year, we demonstrated our agility and resilience despite headwinds in the form of supply chain disruptions and semiconductor shortages, while input cost pressure continues to remain a challenge. We are cautiously optimistic as we enter 2022, preparing for the upcoming challenges and opportunities. We wish to thank all our stakeholders for their confidence and continued support.“