Schaeffler India Sees Export Growth Moderating to 5–10% in 2026

Schaeffler India Ltd expects export growth to moderate to 5–10% in 2026 after a strong performance in 2025, as demand normalises across key global markets. The company’s exports grew by 30–35% in 2025 and will now expand at a more measured pace due to a high base and macroeconomic conditions in Europe and Asia Pacific.

“We see that the order book for 2026 is in line with last year,” said Hardevi Vazirani, Director Finance and Chief Financial Officer. “In 2025, we already saw demand coming back, but moving forward, we don’t see the same momentum of 30–35% continuing. It will moderate based on economic growth projections, specifically in Europe and Asia Pacific. We do not see that it will be more than five to ten percent.”

Management said export demand has remained broad-based across geographies. Growth has been driven by supplies to sister concerns globally and customers in Europe and Asia Pacific.

“So far as our exports are concerned, the numbers that we report do not have wind (energy exports) in them,” Vazirani said. “Our sales to wind customers are domestic sales, even though those customers export their equipment. If we talk only about our own exports, we have seen growth coming from all regions, mainly Europe and Asia Pacific.”

Managing Director and Chief Executive Officer Harsha Kadam said exports to group entities continue to be a key contributor. He added that the company’s wind segment, though not classified as exports, has delivered strong growth.

“Our own wind business has grown quite significantly,” Kadam said. “At an annualised level, we have grown 17–18% over the last year.”

He added that the wind segment delivered steady performance in the December quarter. “Q4 over the same period last year was about 4% growth, but Q4 over Q3 was still a 15% double-digit growth. So it was a strong quarter for the wind business,” he said.

Schaeffler India reported strong growth in the December quarter. Revenue rose 26.9% year-on-year to ₹2,643 crore in Q4 2025. EBITDA stood at ₹505.6 crore, with a margin of 19.1%. Profit after tax increased to ₹328 crore from ₹249 crore a year earlier.