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SKF India Ltd. Earnings Release 2021
61883_rns_2020-10-28_57df063b-f96c-4e83-ab43-5cdcc125087b.pdf
Earnings Release
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28th October, 2020
| BSELISTING | NEAPS |
|---|---|
| The Secretary | The Manager, Listing Department |
| BSE Limited | National Stock Exchange of India Limited |
| Phiroze J eejeebhoy Towers, | 'Exchange Plaza', C-l, Block G, |
| Dalal Street, | Bandra Kurla Complex, |
| Mumbai 400 001. | Bandra (East), Mumbai 400 051 |
Dear Sir,
Sub : Press Release
FY21". | Please find attached Press Release titled "SKF India declares its financial results for Q2
' Kindly arrange to display this information on the notice board of your esteemed ' exchange.
Thanking you,
1 Yours faithfirlly, SKF India Limited
Ranjan Companyum Secretary
Registered Office: Mahatma Gandhi Memorial Building, Netaji Subhash Road, Chami Road, Mumbai 400 002. Maharashtra. India Tel +91 (22) 2285 7777. Fax +91 (22) 2281 9074. CIN: L29130MH1961PLC011980
For further information, please contact: Sunil Kurup, 02066112435; [email protected]
SKF India declares its financial results for 02 FY21
PuneI October 27, 2020: The Board of Directors of SKF India Limited, India's leading technology and solutions provider of bearings and units, seals, lubrication, condition monitoring and services, approved the unaudited financial results for the second quarter ended September 30, 2020.
The financial highlights are as given below:
- 0 The Revenue from operations of the Company for the period was at Rs 7032.4 million as compared to Rs 3012.0 million in the previous quarter.
- aThe Profit After Tax for the period was Rs 650.2 million compared to the loss of Rs 2.5 million during the previous quarter.
Manish Bhatnagar, Managing Director, SKF India Ltd. commented, "We continue to execute faster on all our strategic priorities, driving investments to grow the business, gain share and optimize margins. We have seen a very strong and significant recovery in demand as our sales and manufacturing teams work closely with customers to ensure we meet their requirements. Nothing matters more to customers in this pandemic environment than a reliable and predictable supply chain, and all SKF sites across the country have stepped up to a full production ramp—up in line with customer expectations.
The automotive segment has shown a sharp recovery and is gearing up to deliver the festive season upswing. The industrial segment has picked up steam and we have 'had many strategic wins with our key accounts. We remain focused on managing the business for the long-term, including driving digitalization across the full value chain, transforming our business and our ways of working.
I am extremely thankful to our teams for navigating the uncertainties and driving value for our shareholders. i am confident that our end-market diversity, broad customer base, channel reach, high-quality solutions and pioneering leadership will position SKF strongly for the long-term growth.
® SKF is a registered trademark of the SKF Group.
SKF's mission is to be the undisputed leader in the beefing business. SKF otters solutions around the rotating shaft. including bearings, seals, lubrication, condition monitoring, and maintenance services. SKF' Is represented In more than .130 countries and has around 17, 000 distributor locations worldwide. Annual sales' In 2019 were SEK 86, 013 million and the number of employees was 43, 360. www. skf com