Schaeffler India rose 3.18% to Rs 1694.75 after the company's net profit rose 34.61% to Rs 190.64 crore on 19.58% rise in net sales to Rs 1523.22 crore in Q4 December 2021 over Q4 December 2020.
PBT (before exceptional items) for the quarter (Q4 CY2021) was Rs 256.9 crore, 34.4% higher than the corresponding quarter of 2020 (Q4 CY2020) and 11.9% higher than the preceding quarter (Q3 CY2021). PBT margin for the quarter stood at 16.9%, compared to 15% during the corresponding quarter of 2020.Total expenses rose 17.29% year-on-year to Rs 1,288.13 crore in Q4 December 2021. Cost of raw material consumed increased 14.60% to Rs 567.19 crore.
For the full year, the company's net profit surged 116.21% to Rs 629.12 crore and net sales jumped 47.81% to Rs 5560.51 crore.
In the current quarter, the company operations are at normalcy and there is no impact of the pandemic on the company's financials for the quarter and year ended 31 December 2021.
The board recommended a dividend of Rs 16 per equity share for the year ended 31 December 2021.
Harsha Kadam, managing director, said, "We saw the growth momentum continuing in Q4 with improved earnings quality due to sustained growth across businesses and better sales mix. New projects realization in automotive business, sector focus in industrial business and deployed countermeasures enabled achieving the results for the quarter. During the year, we demonstrated our agility and resilience despite headwinds in the form of supply chain disruptions and semiconductor shortages, while input cost pressure continues to remain a challenge. We are cautiously optimistic as we enter 2022, preparing for the upcoming challenges and opportunities."
Schaeffler is among the largest industrial and automotive supplier. With 3 well known product brands LuK, INA and FAG, 4 manufacturing plants and 8 sales offices, Schaeffler has a significant presence in India.
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