Sales of Mobility Compoents & Related Solutions segment has gone up 184.65% to Rs 959.85 crore (accounting for 77.85% of total sales).  Sales of Others segment has gone up 168.53% to Rs 273.04 crore (accounting for 22.15% of total sales).  

PBIT of Mobility Compoents & Related Solutions reported profit of Rs 116.76 crore compared to loss of Rs 61.16 crore.  PBIT of Others reported profit of Rs 41.84 crore compared to loss of Rs 8.55 crore.  

PBIT margin of Mobility Compoents & Related Solutions segment rose from negative 18.14% to 12.16%.  PBIT margin of Others segment rose from negative 8.41% to 15.32%.  Overall PBIT margin rose from 15.88% to 12.86%.  

Raw material cost as a % of total sales (net of stock adjustments) increased from 23.43% to 39.37%.   Purchase of finished goods cost fell from 35.68% to 26.27%.   Employee cost decreased from 20.86% to 7.11%.   Other expenses fell from 24.97% to 12.26%.   

Other income fell 7.43% to Rs 12.96 crore.  Provision for interest fell 2.17% to Rs 0.9 crore.  Loan funds declined from Rs 66.25 crore as of 30 June 2020 to Rs 63.67 crore as of 30 June 2021.  Inventories rose to Rs 1,023.23 crore as of 30 June 2021 from Rs 881.22 crore as of 30 June 2020.  Sundry debtors were higher at Rs 772.67 crore as of 30 June 2021 compared to Rs 483.16 crore as of 30 June 2020.  Cash and bank balance rose to Rs 1,236.90 crore as of 30 June 2021 from Rs 873.49 crore as of 30 June 2020.  

Provision for depreciation down 2.89% to Rs 48.46 crore.  Fixed assets declined from Rs 1,162.38 crore as of 30 June 2020 to Rs 1,154.12 crore as of 30 June 2021.  Intangible assets declined from Rs 0.19 crore to Rs 0.10 crore.  

Provision for tax was debit of Rs 42.53 crore, compared to credit of Rs 14.16 crore.  Effective tax rate was 24.92% compared to 25.00%.

Equity capital stood at Rs 31.26 crore as of 30 June 2021 to Rs 31.26 crore as of 30 June 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 74.13% as of 30 June 2021 ,compared to 74.13% as of 30 June 2020 .  

For year-to-date (YTD) results analysis

Net sales (including other operating income) of Schaeffler India has increased 86.46% to Rs 2,549.71 crore.  

Operating profit margin has jumped from 8.59% to 16.47%, leading to 257.54% rise in operating profit to Rs 419.93 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 34.88% to 40.34%.   Purchase of finished goods cost fell from 27.09% to 24.75%.   Employee cost decreased from 12.58% to 7.22%.   Other expenses fell from 17.07% to 12.22%.   

Other income up 8.30% to Rs 34.84 crore.  Provision for interest fell 2.69% to Rs 1.81 crore.  Loan funds declined from Rs 66.25 crore as of 30 June 2020 to Rs 63.67 crore as of 30 June 2021.  Inventories rose to Rs 1,023.23 crore as of 30 June 2021 from Rs 881.22 crore as of 30 June 2020.  Sundry debtors were higher at Rs 772.67 crore as of 30 June 2021 compared to Rs 483.16 crore as of 30 June 2020.  Cash and bank balance rose to Rs 1,236.90 crore as of 30 June 2021 from Rs 873.49 crore as of 30 June 2020.  

Provision for depreciation rose 2.13% to Rs 96.33 crore.  Fixed assets declined from Rs 1,162.38 crore as of 30 June 2020 to Rs 1,154.12 crore as of 30 June 2021.  Intangible assets declined from Rs 0.19 crore to Rs 0.10 crore.  

Profit before tax grew 567.35% to Rs 356.63 crore.  Provision for tax was expense of Rs 88.96 crore, compared to Rs 17.56 crore.  Effective tax rate was 24.94% compared to 32.86%.

Profit after tax rose 646.01% to Rs 267.67 crore.  

Equity capital stood at Rs 31.26 crore as of 30 June 2021 to Rs 31.26 crore as of 30 June 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 74.13% as of 30 June 2021 ,compared to 74.13% as of 30 June 2020 .  

Full year results analysis

Net sales (including other operating income) of Schaeffler India has declined 13.73% to Rs 3,761.84 crore.  Sales of Mobility Compoents & Related Solutions segment has gone down 14.14% to Rs 3,006.38 crore (accounting for 79.92% of total sales).  Sales of Others segment has gone down 12.06% to Rs 755.46 crore (accounting for 20.08% of total sales).  

Profit before interest, tax and other unallocable items (PBIT) has slumped 28.70% to Rs 342.15 crore.  PBIT of Mobility Compoents & Related Solutions segment fell 33.47% to Rs 242.24 crore (accounting for 70.80% of total PBIT).  PBIT of Others segment fell 13.71% to Rs 99.91 crore (accounting for 29.20% of total PBIT).  

PBIT margin of Mobility Compoents & Related Solutions segment fell from 10.40% to 8.06%.  PBIT margin of Others segment fell from 13.48% to 13.23%.  Overall PBIT margin fell from 11.00% to 9.10%.  

Operating profit margin has slumped from 14.53% to 14.25%, leading to 15.38% decline in operating profit to Rs 536.12 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 39.83% to 37.46%.   Purchase of finished goods cost rose from 23.09% to 24.03%.   Employee cost increased from 7.94% to 9.53%.   Other expenses fell from 14.55% to 14.53%.   

Other income fell 4.60% to Rs 60.3 crore.  Provision for interest up 51.01% to Rs 5.24 crore.  Loan funds remained nil.  Inventories declined from Rs 720.49 crore as of 31 December 2019 to Rs 713.63 crore as of 31 December 2020.  Sundry debtors were higher at Rs 691.72 crore as of 31 December 2020 compared to Rs 631.94 crore as of 31 December 2019.  Cash and bank balance rose to Rs 1,245.90 crore as of 31 December 2020 from Rs 835.36 crore as of 31 December 2019.  

Provision for depreciation rose 22.22% to Rs 193.97 crore.  Fixed assets increased to Rs 1,166.10 crore as of 31 December 2020 from Rs 1,060.59 crore as of 31 December 2019.  Intangible assets declined from Rs 0.25 crore to Rs 0.15 crore.  

Profit before tax down 25.70% to Rs 397.21 crore.  Provision for tax was expense of Rs 106.24 crore, compared to Rs 166.64 crore.  Effective tax rate was 26.75% compared to 31.19%.

Profit after tax fell 20.85% to Rs 290.97 crore.  

Equity capital stood at Rs 31.26 crore as of 30 June 2021 to Rs 31.26 crore as of 30 June 2020.  Per share face Value remained same at Rs 10.00.  

Promoters' stake was 74.13% as of 31 December 2020 ,compared to 74.13% as of 31 December 2019 .  

Cash flow from operating activities increased to Rs 649.19 crore for year ended December 2020 from Rs 509.77 crore for year ended December 2019.  Cash flow used in acquiring fixed assets during the year ended December 2020 stood at Rs 237.69 crore, compared to Rs 320.25 crore during the year ended December 2019. 

Management Commentary: Mr. Harsha Kadam, Managing Director, said, "Our robust performance continued in Q2 despite the strong headwinds from Covid19 wave-2 and input cost pressures. Our focus on countermeasures and an improved mix has enabled us to sustain the performance momentum. We continue to build on our strong position, deepening our customer focus and widening our market reach. As the Covid19 wave-2 subsides and the consumer sentiments improve, we are optimistic that the market would come back on a faster growth trajectory."