Financial Results

The Board approved the unaudited financial results for Q1 FY27 (quarter ended 30th June 2026):

  • Revenue from Operations: ₹9,707.7 million
  • Total Income: ₹9,803.2 million
  • Profit Before Tax: ₹869.2 million
  • Total Tax Expense: ₹250.0 million
  • Net Profit: ₹619.2 million
  • Basic and Diluted EPS: ₹12.5
  • Paid-up Equity Share Capital: ₹494.4 million (face value ₹10 each)

Statutory Auditors M/s. Deloitte Haskins & Sells LLP issued a Limited Review Report with unmodified opinion on the unaudited financial results.

Interim Dividend

Board declared interim dividend of ₹20 per equity share (face value ₹10 each) for FY 2026-27. Record date for payment is 17th August 2026. This will result in cash outflow of approximately ₹989 million.

Management Changes

Resignation of Mr. Mukund Vasudevan:

  • Resigned as Managing Director effective closure of business hours on 31st August 2026
  • DIN: 05146681
  • Reason: Change in role within SKF Group
  • Resignation letter dated 4th August 2026 enclosed as Annexure-B

Appointment of Mr. Mukund Vasudevan:

  • Appointed as Non-Executive, Non-Independent Director effective 1st September 2026
  • Based on recommendation of Nomination and Remuneration Committee
  • Qualifications: B.Tech from IIT Mumbai, MBA in Finance from University of Chicago
  • 25+ years of experience in P&L management, strategy development, M&A
  • Not related to any Directors, KMPs or Promoters of the Company
  • Company will seek shareholder approval within 3 months of appointment as required under Regulation 17(1C) of SEBI LODR

Change in Designation of Mr. Sujeeth Pai:

  • Designation changed from Whole-Time Director to Managing Director
  • DIN: 07763929
  • Effective from 1st September 2026
  • Subject to shareholder approval
  • Will cease as Whole-Time Director on 31st August 2026
  • Appointment as Managing Director for 5 years subject to shareholder approval under Section 203 of Companies Act, 2013
  • Qualifications: B.E. (Mechanical Engineering), MBA from ISB Hyderabad
  • 20+ years of experience in industrial business, P&L management
  • Not related to any Directors, KMPs or Promoters of the Company
  • Company will seek shareholder approval within 3 months of appointment

Financial Results Notes

1. Results reviewed by Audit Committee and approved by Board on 11th August 2026

2. Prepared in accordance with Ind AS 34 and Regulation 33 of SEBI LODR

3. Single business segment - bearings and related components

4. Scheme of Arrangement with SKF India Limited approved by NCLT Mumbai Bench on 26th September 2025, effective 1st October 2025

5. Company allotted 49,437,963 equity shares to SKF India Limited shareholders in 1:1 ratio

6. Figures for comparative periods extracted from SKF India Limited's industrial business financial information

7. Exceptional items for year ended 31st March 2026 include:

  • Statutory impact of new Labour Codes: ₹34.9 million (gratuity due to wage definition changes)
  • Demerger expenses: ₹286.9 million (IT costs, professional services) + ₹1,639.2 million (stamp duty, transfer premium)

8. Tax adjustments include ₹49.9 million share of BAPA secondary adjustments and ₹556.6 million tax on pre-demerger profits