Schaeffler India Limited announces Q4 and Full Year results for the period ended December 31, 2020

Leading industrial and automotive supplier, Schaeffler India Limited (BSE: 505790, NSE: SCHAEFFLER) today announced that the Board of Directors approved the results for the fourth quarter and full year, ended December 31, 2020.

October - December 2021 (Fourth Quarter)

- Total revenue from operations (net) for the quarter (Q4) was INR 12,738 million, higher by 13.7% than the preceding quarter and 22.9% higher than the corresponding quarter of 2019.

- PBT (before exceptional items) for the quarter (Q4) was INR 1,911 million, higher by 25.1% than the preceding quarter and 53.9% higher than the corresponding quarter of 2019.

- Net Profit margin for the quarter stood at 11.1%.

January - December 2020 (Twelve Month / Full Year)

- Total revenue from operations (net) for the twelve months period was INR 37,619 million, lower by 13.7% than the corresponding period of 2019.

- PBT (before exceptional items) for the period was INR 3,972 million lower by 25.7%.

- Net profit magin for the year stood at 7.7%

Commenting on the results, Mr. Harsha Kadam, Managing Director, said, "Our industrial and automotive businesses showed resounding performance during the quarter. We had a sharp market recovery in the quarter which was aided by our strong countermeasures and successful realization of new projects. 2020 was a turbulent year and our teams across the board showed agility in responding to the situation as we were pushed into uncharted territory. We stayed the course, continued to deepen our customer connect to become the preferred technology partner, as we emerge stronger out of this volatile environment together. We are optimistic and anticipate to continue this momentum as we move ahead."

Shares of Schaeffler India Ltd was last trading in BSE at Rs.5100 as compared to the previous close of Rs. 5020.9. The total number of shares traded during the day was 1916 in over 649 trades.

The stock hit an intraday high of Rs. 5145.15 and intraday low of 4970. The net turnover during the day was Rs. 9695676.

Source : Equity Bulls

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