Schaeffler India shares trade higher on upbeat Oct-Dec earnings

Industrial and automotive supplier Schaeffler India has reported strong earnings for the quarter ended December, driving the company’s shares up on Friday.

At 10.31am on February 17, Schaeffler India was trading 4.44 percent higher at Rs 2,955.55 on the National Stock Exchange.

The company saw an 18 percent on-year jump in revenue from operations, bringing in Rs 1,794 crore. This is attributed to a robust performance across all of its businesses, driven by an improved sales mix and judicious capital expenditure.

Schaeffler India Managing Director Harsha Kadam explained that the company’s momentum continued on the back of favourable sales mix, along with an emphasis on deploying sustainable countermeasures to navigate through the headwinds in a highly volatile environment.

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On the operational front, Schaeffler India’s EBIDTA margin expanded to 19.2 percent in October-December from 18.85 percent year ago, indicating a strong performance.

The company’s net profit also saw a healthy increase, rising 21 percent higher to Rs 230 crore in the quarter ended December, thanks to the strong topline and robust operational performance.

Kadam added that the company’s success over the year was aided by a trajectory of wins across its businesses and a focus on operational efficiency.