On consolidated basis
Quarter ended December 2024 compared with Quarter ended December 2023.
Net sales (including other operating income) of SKF India has increased 15.04% to Rs 1256.1 crore. Operating profit margin has declined from 15.76% to 9.65%, leading to 29.56% decline in operating profit to Rs 121.23 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 25.51% to 24.96%. Purchase of finished goods cost rose from 31.31% to 41.40%. Employee cost decreased from 7.88% to 7.05%. Other expenses fell from 18.99% to 16.84%. Other income rose 97.63% to Rs 47.51 crore. PBIDT fell 13.97% to Rs 168.74 crore. Provision for interest fell 40% to Rs 0.15 crore. PBDT fell 13.94% to Rs 168.59 crore. Provision for depreciation rose 13.24% to Rs 21.38 crore. Profit before tax down 16.84% to Rs 147.21 crore. Share of profit/loss was 400% lower at Rs -0.15 crore. Provision for tax was expense of Rs 37.56 crore, compared to Rs 44.84 crore. Effective tax rate was 25.54% compared to 25.33%. Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 17.14% to Rs 109.50 crore. Promoters’ stake was 52.58% as of 31 December 2024 ,compared to 52.58% as of 31 December 2023 .
For year-to-date (YTD) results analysis.
Net sales (including other operating income) of SKF India has increased 10.08% to Rs 3706.55 crore. Operating profit margin has declined from 14.76% to 11.84%, leading to 11.69% decline in operating profit to Rs 438.72 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 25.18% to 24.21%. Purchase of finished goods cost rose from 36.65% to 41.57%. Employee cost decreased from 7.62% to 6.78%. Other expenses rose from 15.65% to 15.97%. Other income rose 67.03% to Rs 111.04 crore. PBIDT fell 2.40% to Rs 549.76 crore. Provision for interest fell 45.10% to Rs 0.56 crore. PBDT fell 2.33% to Rs 549.2 crore. Provision for depreciation rose 9.96% to Rs 61.25 crore. Profit before tax down 3.68% to Rs 487.95 crore. Share of profit/loss was 2.56% lower at Rs -0.4 crore. Provision for tax was expense of Rs 124.92 crore, compared to Rs 129.64 crore. Effective tax rate was 25.62% compared to 25.61%.Minority interest was nil in both the periods. Net profit attributable to owners of the company decreased 3.70% to Rs 362.63 crore. Promoters’ stake was 52.58% as of 31 December 2024 ,compared to 52.58% as of 31 December 2023 .
Full year results analysis.
Net sales (including other operating income) of SKF India has increased 6.16% to Rs 4570.13 crore. Operating profit margin has declined from 17.41% to 15.70%, leading to 4.25% decline in operating profit to Rs 717.59 crore. Raw material cost as a % of total sales (net of stock adjustments) increased from 24.03% to 25.30%. Purchase of finished goods cost fell from 35.84% to 35.61%. Employee cost increased from 6.91% to 7.49%. Other expenses rose from 15.92% to 15.94%. Other income rose 81.24% to Rs 94.01 crore. PBIDT rose 1.29% to Rs 811.6 crore. Provision for interest fell 19.87% to Rs 1.21 crore. Loan funds declined from Rs 14.44 crore as of 31 March 2023 to Rs 11.76 crore as of 31 March 2024. Inventories declined from Rs 686.03 crore as of 31 March 2023 to Rs 683.88 crore as of 31 March 2024. Sundry debtors were higher at Rs 751.33 crore as of 31 March 2024 compared to Rs 678.65 crore as of 31 March 2023. Cash and bank balance rose to Rs 1,222.11 crore as of 31 March 2024 from Rs 957.96 crore as of 31 March 2023. Investments rose to Rs 8.92 crore as of 31 March 2024 from Rs 2.36 crore as of 31 March 2023 . PBDT rose 1.33% to Rs 810.39 crore. Provision for depreciation rose 11.61% to Rs 74.6 crore. Fixed assets increased to Rs 560.91 crore as of 31 March 2024 from Rs 487.14 crore as of 31 March 2023. Intangible assets declined from Rs 0.32 crore to Rs 0.15 crore. Profit before tax grew 0.39% to Rs 735.79 crore. Share of profit/loss was 66.67% lower at Rs 0.03 crore. Provision for tax was expense of Rs 184.02 crore, compared to Rs 208.14 crore. Effective tax rate was 25.01% compared to 28.39%. Minority interest was nil in both the periods. Net profit attributable to owners of the company increased 5.13% to Rs 551.80 crore. Equity capital stood at Rs 49.44 crore as of 31 March 2024 to Rs 49.44 crore as of 31 March 2023. Per share face Value remained same at Rs 10.00. Promoters’ stake was 52.58% as of 31 March 2024 ,compared to 52.58% as of 31 March 2023 . Cash flow from operating activities decreased to Rs 624.09 crore for year ended March 2024 from Rs 690.23 crore for year ended March 2023. Cash flow used in acquiring fixed assets during the year ended March 2024 stood at Rs 130.30 crore, compared to Rs 106.72 crore during the year ended March 2023.
| SKF India : Consolidated Results | | | Quarter ended | Year to Date | Year ended |
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| Particulars | 202412 | 202312 | Var.(%) | 202412 | 202312 | Var.(%) | 202403 | 202303 | Var.(%) |
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| Net Sales (including other operating income) | 1,256.10 | 1,091.90 | 15.04 | 3,706.55 | 3,367.12 | 10.08 | 4,570.13 | 4,304.92 | 6.16 | | OPM (%) | 9.65 | 15.76 | -611 bps | 11.84 | 14.76 | -292 bps | 15.70 | 17.41 | -171 bps | | OP | 121.23 | 172.11 | -29.56 | 438.72 | 496.82 | -11.69 | 717.59 | 749.41 | -4.25 | | Other Inc. | 47.51 | 24.04 | 97.63 | 111.04 | 66.48 | 67.03 | 94.01 | 51.87 | 81.24 | | PBIDT | 168.74 | 196.15 | -13.97 | 549.76 | 563.30 | -2.40 | 811.60 | 801.28 | 1.29 | | Interest | 0.15 | 0.25 | -40.00 | 0.56 | 1.02 | -45.10 | 1.21 | 1.51 | -19.87 | | PBDT | 168.59 | 195.90 | -13.94 | 549.20 | 562.28 | -2.33 | 810.39 | 799.77 | 1.33 | | Depreciation | 21.38 | 18.88 | 13.24 | 61.25 | 55.7 | 9.96 | 74.6 | 66.84 | 11.61 | | PBT | 147.21 | 177.02 | -16.84 | 487.95 | 506.58 | -3.68 | 735.79 | 732.93 | 0.39 | | Share of Profit/(Loss) from Associates | -0.15 | -0.03 | -400.00 | -0.4 | -0.39 | -2.56 | 0.03 | 0.09 | -66.67 | | PBT before EO | 147.06 | 176.99 | -16.91 | 487.55 | 506.19 | -3.68 | 735.82 | 733.02 | 0.38 | | EO Income | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | PBT after EO | 147.06 | 176.99 | -16.91 | 487.55 | 506.19 | -3.68 | 735.82 | 733.02 | 0.38 | | Taxation | 37.56 | 44.84 | -16.24 | 124.92 | 129.64 | -3.64 | 184.02 | 208.14 | -11.59 | | PAT | 109.5 | 132.15 | -17.14 | 362.63 | 376.55 | -3.70 | 551.8 | 524.88 | 5.13 | | Minority Interest (MI) | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit | 109.5 | 132.15 | -17.14 | 362.63 | 376.55 | -3.70 | 551.8 | 524.88 | 5.13 | | P/(L) from discontinued operations net of tax | 0 | 0 | - | 0 | 0 | - | 0 | 0 | - | | Net profit after discontinued operations | 109.5 | 132.15 | -17.14 | 362.63 | 376.55 | -3.70 | 551.8 | 524.88 | 5.13 | | EPS (Rs)* | 22.15 | 26.73 | -17.14 | 73.35 | 76.17 | -3.70 | 111.61 | 106.17 | 5.13 | | | * EPS is on current equity of Rs 49.44 crore, Face value of Rs 10, Excluding extraordinary items. | | # EPS is not annualised | | bps : Basis points | | EO : Extraordinary items | | Figures in Rs crore | | Source: Capitaline Corporate Database |
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