SKF India’s Q3 Margins Surprise, Bottomline Expands: ICICI Direct  

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ICICI Direct Report

SKF India Ltd. registered a handsome beat for Q3 FY21 across all parameters.

The company posted highest ever profitability led by improvement in topline and highest ever gross margins.

Revenue for the quarter came in at Rs 818.7 crore, up 15.7% YoY (versus our estimate of Rs 781 crore).

We anticipate a strong performance across the auto and industrial segment.

Gross margins came in at 46.7%, an expansion of approximately 1,230 basis points.

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