Q1FY22 Result Update - SKF India - ICICI Direct

SKF reported robust Q1FY22 results.

- Revenue for the quarter came in at Rs. 693.5 crore (I-direct estimate of Rs. 638.3 crore), up 130.2% YoY and down 18.2% QoQ

- EBITDA in Q1FY22 was at Rs. 113.8 crore, down 23.3% QoQ

- Consequent PAT in Q1FY22 was at Rs. 79.1 crore with a tax rate of 25.2%

Key triggers for future price performance

- Recovery in auto sector should improve manufacturing segment

- Upcoming DFC by mid CY22 to push out Class K bearings, coupled with metro projects in 25-26 new cities adding thrust to industrial segment

- Upcoming e-market to expand reach and market share as well as reduce counterfeit products

For details, click on the link below: Link to the report

Shares of SKF India Ltd was last trading in BSE at Rs. 2906 as compared to the previous close of Rs. 2831.75. The total number of shares traded during the day was 3864 in over 1400 trades.

The stock hit an intraday high of Rs. 3020 and intraday low of 2840. The net turnover during the day was Rs. 11372502.

Source : Equity Bulls

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