Schaeffler India, Tier-1 components major based in Pune, has disclosed its performance for Q4 CY23, revealing that its net revenues from operations reached Rs 1,855 crore, marking a 3.4 percent increase over the operating revenues of the same quarter in CY22.
In the fourth quarter of CY23, Schaeffler India’s profit-before-tax (PBT) amounted to Rs 300 crore, showing a 2.9 percent decrease compared to the previous year. The PBT margin for Q4 CY23 stood at 16.2%, down from 17.2% in the corresponding quarter of CY22. The company achieved a net profit of Rs 217.4 crore for Q4 CY23, with a net profit margin of 11.7 percent.
Harsha Kadam, the Managing Director, commented, “Our balanced business portfolio and sustained momentum in key sectors contributed to our quarterly revenues. Despite challenges in the export mix, our annual performance was bolstered by domestic operations and business wins across sectors. Our focus on resource efficiency and productivity measures has helped maintain earnings quality.”
“We are committed to robust cash generation and capital expenditure realization. As we enter 2024, we anticipate growth in certain market sectors and are dedicated to capitalizing on market opportunities. Our consistent dividend payment reflects our commitment to long-term value creation. We extend our gratitude to all stakeholders for their confidence and ongoing support,” Kadam added.