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Schaeffler India announces Q2 and Half Year results for the period ended June 30, CY2021

Posted On: 2021-07-21 16:13:13 (Time Zone: UTC)


Leading industrial and automotive supplier, Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER) today announced its board approved second quarter (Q2) and half yearly results for the quarter ending June 30th, 2021.

April - June 2021 (Second Quarter)

- Total revenue from operations (net) for the quarter (Q2) was INR 12,329 million, higher by 180.9% than the corresponding quarter of 2020 and 6.4% lower than the preceding quarter (Q1'21).

- PBT (before exceptional items) for the quarter (Q2) was INR 1,707 million, 401.4% higher than the corresponding quarter of 2020 and lower by 8.2% than the preceding quarter (Q1'21).

- PBT margin for the quarter stood at 13.8%, against -12.9% during the corresponding quarter of 2020 and 14.1% for the preceding quarter (Q1'21).

- Net Profit for the quarter stood at INR 1,281 million and Net Profit margin for the quarter stood at 10.4%.

January - June 2021 (Six Month / Half Year)

- Total revenue from operations (net) for the six months period was INR 25,497 million, higher by 86.5% than the corresponding period of 2020.

- PBT (before exceptional items) for the six months period was INR 3,566 million, 567.3% higher than the corresponding period of 2020

- PBT margin for the six months stood at 14%, against 3.9% during the corresponding period of 2020.

- Net profit for the period stood at INR 2,677 million and the Net profit margin for the period stood at 10.5%

Commenting on the results, Mr. Harsha Kadam, Managing Director, said, "Our robust performance continued in Q2 despite the strong headwinds from Covid19 wave-2 and input cost pressures. Our focus on countermeasures and an improved mix has enabled us to sustain the performance momentum. We continue to build on our strong position, deepening our customer focus and widening our market reach. As the Covid19 wave-2 subsides and the consumer sentiments improve, we are optimistic that the market would come back on a faster growth trajectory."

Shares of Schaeffler India Ltd was last trading in BSE at Rs. 5378.8 as compared to the previous close of Rs. 5443.4. The total number of shares traded during the day was 175 in over 115 trades.

The stock hit an intraday high of Rs. 5502.6 and intraday low of 5378.8. The net turnover during the day was Rs. 951367.


Source: Equity Bulls

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