SKF India Limited was established in the year 1961 and is headquartered in Mumbai. The company manufactures bearings like deep groove, taper roller and various other types. These products are used by various industries that includes automotive, power generation, cement, steel, petrochemical and textile. The company provides industry based solutions with the help of its five technology-centric platforms: seals, mechatronics, lubrication solutions, bearings and units and services. The company is evolving from being a manufacturer of ball bearing company to a knowledge driven engineering company. They are now able to help their customers to achieve the sustainable and competitive business excellence. The company also has an employee base of over 2600 professionals. The company has diversified its operations in three different companies: SKF India Limited, SKF Technologies (India) Pvt Ltd and Lincoln Helios India Ltd. The company manages to offer sustainable ways for their customers across automotive and industrial sectors to secure breakthroughs in energy efficient, friction reduction and equipment longevity and reliability. The company has been serving the national market for more than three decades by manufacturing high quality bearings. The company has three manufacturing facilities that are situated in Pune, Bangalore and Haridwar and has more than eleven sales offices across the country with a supply network of more than 300 distributors. The company SKF was initially started in Sweden. The company manufactured and supplied bearings, seals, lubrications and lubrication systems, power transmission products and related services all across the globe. They are the largest manufacturers of bearings currently. The group currently consists of about 150 companies. They started with their operations in India in the year 1923 by creating a trading outpost in the city of Calcutta. Earlier, they imported automotive bearings.
The company, whose bearings are used in sectors ranging from construction and transport to mining and wind power, said demand had rebounded from the pandemic-ravaged second quarter, with the automotive sector among the markets seeing an improvement.
Total sales slumped 61 percent to Rs 301.24 crore in Q1 June 2020 as against Rs 776.83 crore in Q1 June 2019.
Analysts recommend investors to hold on to the stock as the revenue in the coming quarters is likely to be healthy as increased traction in the automotive sector fired up the stock.
Total income from operations during the period under review stood at Rs 703.17 crore as against Rs 656.54 crore in the same period last fiscal, up 7.1 per cent, SKF India said in a BSE filing.
SKF India employees have got together with NAAM foundation to help drought affected farmers’ in Maharashtra. The employees decided to contribute the dividend income from their employees’ cooperative account for the cause. This amount was equally matched by the company raising a sum of Rs 7.75 Lakhs.
The Board has recommended a dividend of Rs 15 (150%) per share as compared to Rs 10 (100%) per share in the previous year.
The total income of the company saw a marginal increase of 1.4 percent to touch Rs 610.3 crore, up from Rs 601.3 crore in Q2 of 2014
The Board of Directors have recommended a final dividend of 25% for the year 2014, which together with the interim dividend of 75% paid in September 2014, makes a total dividend of 100% for the year 2014.
| Name | DIN | Designation | Date of joining | |
|---|---|---|---|---|
| Bernd Dieter Stephan | Unlock to View | Unlock to View | Director | 08 Jun,2017 |
| Hema Ashok Hattangady | Unlock to View | Unlock to View | Director | 18 Jul,2014 |
| Prakash Manjanath Telang | Unlock to View | Unlock to View | Director | 23 Oct,2012 |
| Prasad Raghava Menon | Unlock to View | Unlock to View | Director | 08 Mar,2011 |
| Shishir Joshipura | Unlock to View | Unlock to View | Managing director | 01 Dec,2009 |
| Rakesh Radhakishen Makhija | Unlock to View | Unlock to View | Director | 01 Jun,2002 |
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