ICICI Direct: SKF India Holds Ground On The Back Of Auto Sector
An employee handles steel roller bearings on the assembly line. (Photographer Krisztian Bocsi/Bloomberg)

ICICI Direct: SKF India Holds Ground On The Back Of Auto Sector


BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

SKF India Ltd. reported relatively flattish numbers YoY whereas sequentially revenues jumped 133.4%, given a lower base in Q1 and swift recovery witnessed by the auto sector.

Revenue for the quarter was at Rs 703.2 crore, down 5.9% YoY (versus our estimate of Rs 744.1 crore).

Gross margins were at 37.2%, improving approximately 120 basis points YoY while contracting approximately 180 basis points QoQ as steel prices have recovered lately.

Click on the attachment to read the full report:

ICICI Direct SKF India Q2 FY21 Result Update.pdf


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