SKF India Ltd.
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ABOUT
AI Sector View
AI GENERATEDAutomobile and Auto Components
Domestic auto demand remains strong across categories, with total vehicles registered up 27% YoY (2026-07), passenger vehicle sales up 14% YoY (2026-06), 2-wheelers up 23% YoY (2026-06), and tractor sales up 18% YoY (2026-07). Core demand is reinforced by vehicle sales of 395199 units (Jul/26) and car registrations of 457810 units (Jul/26), outweighing FPI outflows of INR -11826 crore over 3 months to 2026-08-31. The stance stays positive because fundamentals are stronger than positioning.
PROS
- Company is almost debt free
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.28x)
- Working capital cycle has improved - days down from 328 to 129
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
- Offers a healthy dividend yield of 2.6%
CONS
- Recent results are weak - TTM profit is down 74.6% versus prior year
- A large part of profit comes from other income (32.8% of PBT)
- Company's sales have been declining over the last five years
- Company has delivered a poor profit growth of -17.0% over past five years
- Operating margins have contracted to 11.7% from 18.6%
- Stock is trading at 5.3x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| SCHAEFFLER | 3935.75 | 49.08 | 61517.22 | 0.89 | 325.78 | 13.47 | 2760.55 | 17.34 | 27.55 | 18.08 |
| TIMKEN | 3176.20 | 57.58 | 23890.97 | 0.08 | 1196.59 | 528.77 | 9433.20 | 891.45 | 19.14 | 18.83 |
| SKFINDUS | 2968.20 | 67.41 | 14674.18 | 0.34 | 61.92 | -48.96 | 970.77 | 34.72 | 15.89 | 9.09 |
| SKFINDIA | 1532.05 | 36.13 | 7574.14 | 2.61 | 61.92 | -47.62 | 587.79 | -54.19 | 22.09 | 14.99 |
| NRBBEARING | 483.95 | 31.80 | 4690.57 | 1.64 | 377.60 | 1050.87 | 3695.30 | 1091.84 | 18.31 | 17.23 |
| ROLEXRINGS | 175.65 | 30.30 | 4607.88 | 0.00 | 60.14 | 22.34 | 304.34 | 4.38 | 20.98 | 22.58 |
| BIMETAL | 645.00 | 21.60 | 246.71 | 2.09 | 3.94 | -7.06 | 79.53 | 10.98 | 7.01 | 6.32 |
| NIBL | 31.19 | 0.00 | 75.58 | 0.00 | -6.59 | -29.57 | 18.90 | 1.90 | -18.80 | -7.86 |
| AUSTENG | 125.00 | 10.23 | 43.47 | 0.00 | 0.94 | -38.76 | 32.28 | -10.68 | 8.16 | 4.86 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,150 | 1,125 | 1,092 | 1,203 | 1,206 | 399 | 559 | 493 | 1,283 | 496 | 577 | 595 | 588 | |
| 941 | 1,001 | 920 | 990 | 1,013 | 336 | 452 | 370 | 1,115 | 438 | 494 | 562 | 516 | |
| Operating Profit | 208 | 124 | 172 | 213 | 194 | 63 | 106 | 123 | 168 | 58 | 82 | 33 | 71 |
| OPM % | 18.10% | 11.02% | 15.76% | 17.73% | 16.06% | 15.84% | 19.03% | 24.88% | 13.08% | 11.66% | 14.29% | 5.50% | 12.15% |
| 17 | 18 | 24 | 35 | 40 | 6 | 16 | 1 | 15 | -3 | 20 | 29 | 12 | |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 18 | 19 | 19 | 19 | 20 | 13 | 14 | 13 | 23 | 15 | 16 | 16 | 17 |
| Profit before Tax | 208 | 122 | 177 | 229 | 214 | 57 | 108 | 111 | 160 | 39 | 86 | 46 | 84 |
| Tax % | 25.56% | 26.02% | 25.33% | 23.72% | 25.58% | 25.74% | 25.51% | 26.51% | 25.98% | 27.13% | 28.20% | 143.88% | 26.19% |
| Net Profit | 155 | 90 | 132 | 175 | 159 | 42 | 80 | 81 | 119 | 29 | 62 | -20 | 62 |
| 31.30 | 18.20 | 26.70 | 35.40 | 32.20 | 8.50 | 22.20 | 16.50 | 24.00 | 5.80 | 12.50 | -4.10 | 12.50 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,631 | 2,750 | 3,035 | 2,842 | 2,671 | 3,666 | 4,305 | 4,570 | 1,845 | 2,130 | 2,255 | |
| 2,295 | 2,316 | 2,549 | 2,492 | 2,251 | 3,110 | 3,556 | 3,853 | 1,468 | 1,881 | 2,011 | |
| Operating Profit | 336 | 435 | 486 | 349 | 420 | 556 | 749 | 718 | 377 | 248 | 244 |
| OPM % | 12.77% | 15.81% | 16.01% | 12.29% | 15.73% | 15.15% | 17.41% | 15.70% | 20.44% | 11.66% | 10.84% |
| 87 | 71 | 92 | 104 | 36 | 35 | 52 | 94 | 31 | 50 | 59 | |
| Interest | 0 | 5 | 8 | 9 | 2 | 2 | 2 | 1 | 0 | 0 | 0 |
| Depreciation | 48 | 46 | 46 | 57 | 58 | 57 | 67 | 75 | 53 | 63 | 64 |
| Profit before Tax | 376 | 455 | 524 | 387 | 396 | 531 | 733 | 736 | 355 | 235 | 256 |
| Tax % | 35.07% | 35.04% | 35.94% | 25.28% | 24.87% | 25.58% | 28.40% | 25.01% | 25.86% | 50.12% | 48.24% |
| Net Profit | 244 | 296 | 336 | 289 | 298 | 395 | 525 | 552 | 263 | 117 | 132 |
| EPS | 46.30 | 57.30 | 65.70 | 58.50 | 60.20 | 79.90 | 106.20 | 111.60 | 53.26 | 23.71 | — |
| Dividend Payout % | 21.62% | 20.82% | 17.67% | 222.40% | 24.08% | 18.14% | 37.68% | 116.48% | 27.22% | 168.71% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -3%
- 5 Years:
- -4%
- 3 Years:
- -21%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 0%
- 5 Years:
- -2%
- 3 Years:
- -20%
STOCK PRICE CAGR
- 10 Years:
- 1%
- 5 Years:
- -14%
- 3 Years:
- -34%
- 1 Year:
- -69%
RETURN ON EQUITY
- 10 Years:
- 17%
- 5 Years:
- 17%
- 3 Years:
- 13%
- Last Year:
- 6%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 53 | 51 | 49 | 49 | 49 | 49 | 49 | 49 | 49 | 49 |
| 1,758 | 1,786 | 1,648 | 1,856 | 1,514 | 1,836 | 2,292 | 2,633 | 2,549 | 1,280 | |
| 34 | 85 | 90 | 13 | 10 | 10 | 8 | 4 | 1 | 2 | |
| Trade Payables | 304 | 390 | 349 | 412 | 577 | 508 | 608 | 713 | 663 | 548 |
| 143 | 114 | 138 | 122 | 1,823 | 2,015 | 2,245 | 2,480 | 2,686 | 2,797 | |
| Total Liabilities | 2,293 | 2,426 | 2,274 | 2,452 | 3,973 | 4,420 | 5,203 | 5,879 | 5,947 | 4,677 |
| 281 | 275 | 267 | 335 | 330 | 380 | 401 | 447 | 527 | 440 | |
| Capital Work in Progress | 35 | 37 | 62 | 41 | 65 | 52 | 63 | 89 | 56 | 28 |
| 149 | 154 | 44 | 197 | 2 | 2 | 2 | 9 | 9 | 9 | |
| 417 | 403 | 461 | 452 | 468 | 677 | 686 | 684 | 873 | 323 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 751 | 849 | 717 | |
| Cash & Bank | 591 | 743 | 603 | 618 | 500 | 402 | 958 | 1,222 | 719 | 300 |
| 820 | 815 | 836 | 809 | 2,608 | 2,907 | 3,092 | 2,677 | 2,915 | 2,859 | |
| Total Assets | 2,293 | 2,426 | 2,274 | 2,452 | 3,973 | 4,420 | 5,203 | 5,879 | 5,947 | 4,677 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 256 | 540 | 393 | 451 | 430 | 206 | 902 | 624 | 203 | 363 | |
| Cash from Investing | 147 | -265 | 306 | -154 | 654 | -33 | -45 | -158 | -60 | -182 |
| Cash from Financing | -126 | -225 | -477 | -178 | -652 | -78 | -79 | -204 | -650 | -76 |
| 136 | -123 | 11 | -2 | 326 | -53 | 567 | 262 | -507 | 105 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-21 - Pursuant to Clause 15(b)(iii) of Schedule III, Part A, Para A read with Regulation 30 (2), Regulation 30(6) & Regulation 46(2)(oa)(iii) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended from time to time) ( SEBI LODR ) and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026, please find enclosed herewith the transcript of Analyst / Institutional Investor meeting held on Monday , 17th August 2026 at 01:00 pm. The same will soon be uploaded on the website of the company for convenience of the shareholders. Audio Link of the aforesaid meeting is available on the company s website and same was intimated on 18th August 2026.We request you to take the above information on record and disseminate the same on your respective websites.
2026-08-20 - We are enclosing herewith Transcript of the 65th Annual General Meeting of the company held on 14th August 2026.
2026-08-18 - Pursuant to Clause 15(b)(i) of Schedule III, Part A, Para A read with Regulation 30(2), Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended from time to time) ( SEBI LODR ), SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026 and our intimation dated 11th August 2026 for intimation of meeting & 17th August 2026 for submission of Presentation, we are hereby submitting the audio-recording link of Investor Call (Earnings Call) for Q1 FY 2026-27 held on Monday, 17th August 2026 at 1:00 p.m. (IST) , which is available on the website of the Company.Below is the link of the Audio of the aforesaid Investor Call available on the website of the Company for reference: https://www.skf.com/in/investors/skf-india-ltd/shareholder-information
2026-08-17 - We are hereby submitting the video-recording link of the proceedings of 65th Annual General Meeting (AGM) convened on Friday, 14th August 2026 via Video Conferencing at 01:00 PM IST, which is available on the website of the company at below mentioned link: https://www.skf.com/in/investors/skf-india-ltd/shareholder-information
2026-08-17 - SKF India Limited has informed the Exchange about Investor Presentation
2026-08-14 - We are enclosing herewith the Business Presentation made by Mr. Shailesh Kumar Sharma,Managing Director of the Company, during the 65th Annual General Meeting held on 14th August2026, marked as Annexure - A.
2026-08-14 - Pursuant to Regulation 44(3) of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015 ( SEBI LODR ), we are enclosing herewith the voting results of the business items transacted at the 65th Annual General Meeting ( AGM ) of the Company held on 14th August 2026 at 01:00 P.M. (IST) in the format prescribed by SEBI as Annexure-A.Further, pursuant to Section 108 of the Companies Act, 2013 and Rule 20 (4) (xii) of the Companies(Management and Administration), Rules 2014, we are also enclosing the Consolidated Report of theScrutinizer on remote e-voting facility provided prior to the AGM and e-voting facility providedduring the AGM (collectively referred as electronic voting ) as Annexure-B.
2026-08-14 - In compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing the Financial Results for the First Quarter ended 30th June 2026, published in the newspapers of Financial Express (All India Edition), Business Standard (All India Edition) in English Language, and in Loksatta (Pune Edition) in Marathi Language.
2026-08-14 - Further to our intimation dated 16th July 2026 and pursuant to Regulation 30 read with Clause 13,Para A, Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015 ( SEBI LODR ), we are submitting herewith as the proceedings of the 65thAnnual General Meeting ( AGM ) of the Company held on Friday, 14th August 2026 at 01:00 P.M.(IST), through Video Conferencing ( VC ) / Other Audio Visual Means ( OAVM ), to transact thebusinesses mentioned in the Notice dated 01st July 2026 enclosed as Annexure-A.The resolutions set out in the AGM Notice have been approved by the equity shareholders of theCompany with requisite majority, by passing the applicable ordinary and special resolutions, asmentioned in the proceedings.The AGM concluded at 02:48 P.M. (IST).
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