Pune-based Tier-1 components major Schaeffler India has announced its results for Q4 CY23, with the company’s net revenues from operations standing at Rs 1,855 crore, registering a 3.4 percent uptick over the operating revenues of the same quarter in CY22.
Schaeffler India’s profit-before-tax (PBT) for the quarter stood at Rs 300 crore, registering a 2.9 percent decline compared to the previous year, while the PBT margin for Q4 CY23 stood at 16.2% compared to 17.2% during the corresponding quarter of CY22.The company’s net profit for Q4 CY23 was Rs 217.4 crore, while its net profit margin stood at 11.7 percent.
According to Harsha Kadam, Managing Director, said, “Our balanced business portfolio, backed by continued momentum in our key sectors helped sustain revenues for the quarter. Despite the adverse export mix, our annual performance was aided by our domestic businesses and trajectory of business wins across sectors. Our continued focus on efficient utlisation of resources and productivity measures helped in sustaining the quality of earnings.”
“Our robust cash generation and capex realisation continues to remain in focus. Entering 2024 with an uptick from some of the market sectors, with committed efforts to leverage the market growth continues. Our consistent approach towards dividend payment reinforces our commitment to long-term value creation. We wish to thank all our stakeholders for their confidence and continued support,” Kadam added.