SKF India Q4 Review - Decent Performance; Margins Remain Buoyant: ICICI Direct
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ICICI Direct Report
SKF India Ltd. reported a strong Q4 FY21 performance, which was broadly in line with our estimates for the quarter.
Sequentially, the margin profile seems to have cooled off (base being exceptionally high) but they still remain buoyant with respect to the larger picture.
The company also announced a final dividend of Rs 14.5 per share during the quarter.
Revenue for the quarter came in at Rs 847.5 crore, up 38.9% YoY and 3.5% QoQ (versus our estimate of Rs 874 crore).
Buoyant auto retails during Q4 and industrial pick-up aided the performance.
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