SKF India Industrial
SKF India Industrial
IndustrialsKey Fundamentals
MicrocapTapetide Score
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Key Insights
Strengths
3- Company is almost debt free.
- Debtor days have improved from 178 to 87.8 days.
- Company's working capital requirements have reduced from 142 days to 33.8 days
Weaknesses
2- Stock is trading at 9.67 times its book value
- Tax rate seems low
Growth Rate
AI Analysis — Bull vs Bear
anthropic claude-opus-4.6 2d agoSKF India trades at a market cap of ~₹14,394 Cr with a P/E of 69.8x and P/B of 9.82x, reflecting premium valuations. The company is virtually debt-free with a last-year ROE of 27%, and reported TTM sales growth of 377% and profit growth of 206%, though longer-term CAGR data is unavailable to confirm sustainability.
- Company is almost debt-free, giving it financial flexibility and low interest burden in a rising-rate environment
- Last-year ROE of 27% indicates strong capital efficiency and profitability relative to equity deployed
- TTM compounded sales growth of 377% signals a sharp revenue expansion phase
- TTM compounded profit growth of 206% shows operating leverage translating top-line gains into bottom-line performance
- Debtor days improved significantly from 178 to 87.8 days, reflecting better receivables management and faster cash conversion
- Working capital cycle compressed from 142 days to 33.8 days, freeing up cash for reinvestment or returns to shareholders
- Dividend yield of 0.68% provides a modest income stream, notable for an industrial company reinvesting in growth
- Market cap of ₹14,394 Cr positions SKF India as a mid-to-large cap industrial with institutional investor accessibility
- P/E of 69.8x is significantly elevated relative to broader industrial sector averages of 25-35x, leaving limited margin of safety
- P/B of 9.82x implies the stock trades at nearly 10 times book value, pricing in substantial future growth expectations
- Tax rate appears low, and any normalization toward the standard 25.17% corporate rate could compress net margins
- Longer-term sales and profit CAGR data (3-year, 5-year, 10-year) is unavailable, making it difficult to assess whether TTM growth of 377% in sales is sustainable or a one-off spike
- Longer-term ROE data (3-year, 5-year, 10-year) is unavailable, so last-year ROE of 27% cannot be confirmed as a consistent trend
- 52-week high and low data are reported as 0, preventing assessment of where the current price sits relative to its trading range
- Dividend yield of only 0.68% offers limited downside cushion for a stock trading at 69.8x earnings
- As a subsidiary of the global SKF Group, related-party transactions and transfer pricing policies may impact standalone profitability in ways not fully visible to minority shareholders
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
anthropic claude-opus-4.6 2h ago- New MD Sujeeth Pai appointed Sep 12
SKF India seeks shareholder approval for Sujeeth Pai as Managing Director from September 1, 2026, with remuneration of INR 81.57 lakh basic salary and INR 96.41 lakh flexible pay. E-voting runs September 16 to October 15, 2026.
- Outgoing MD Vasudevan resigns Sep 1
Mukund Vasudevan's resignation as MD accepted effective August 31, 2026, due to a role change within SKF Group. He will transition to a Non-Executive Director role.
TL;DR: Recent news for SKF India is limited to a routine leadership transition, with outgoing MD Mukund Vasudevan making way for Sujeeth Pai. There are no operational, financial, or sector-level developments to flag as headwinds or positives. The management change appears orderly and internally driven by parent SKF Group, suggesting business continuity is unlikely to be disrupted.
Quarterly Results
| Particulars | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|
| Sales | 721 | 821 | 813 | 861 | 946 | 971 |
| Expenses | 559 | 727 | 705 | 754 | 865 | 883 |
| Operating Profit | 161 | 94 | 108 | 107 | 81 | 88 |
| OPM % | 22% | 11% | 13% | 12% | 9% | 9% |
| Other Income | 13 | 10 | 1 | -166 | 17 | 10 |
| Interest | 0 | 0 | 0 | 0 | 0 | 1 |
| Depreciation | 9 | 7 | 8 | 8 | 9 | 10 |
| PBT | 164 | 97 | 101 | -67 | 90 | 87 |
| Tax % | 26% | 26% | 24% | -25% | -32% | 29% |
| Net Profit | 121 | 72 | 77 | -50 | 119 | 62 |
| EPS in Rs | 1,21,310 | 71,870 | 76,930 | -10.13 | 24.06 | 12.52 |
Profit & Loss
| Particulars | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|
| Sales | 721 | 3,440 | 3,590 |
| Expenses | 559 | 3,051 | 3,206 |
| Operating Profit | 161 | 390 | 384 |
| OPM % | 22% | 11% | 11% |
| Other Income | 13 | -137 | -138 |
| Interest | 0 | 0 | 1 |
| Depreciation | 9 | 31 | 35 |
| PBT | 164 | 221 | 211 |
| Tax % | 26% | 2% | — |
| Net Profit | 121 | 218 | 208 |
| EPS in Rs | 1,21,310 | 44.03 | 76,956 |
| Div. Payout % | 0% | 23% | — |
Balance Sheet
| Particulars | Mar 2025 | Mar 2026 |
|---|---|---|
| Equity Capital | 49 | 49 |
| Reserves | 1,262 | 1,427 |
| Borrowings | 2 | 5 |
| Other Liabilities | 602 | 1,193 |
| Total Liabilities | 1,915 | 2,674 |
| Fixed Assets | 182 | 211 |
| CWIP | 9 | 134 |
| Investments | 0 | 0 |
| Other Assets | 1,724 | 2,329 |
| Total Assets | 1,915 | 2,674 |
Cash Flow
| Particulars | Mar 2025 | Mar 2026 |
|---|---|---|
| Operating | -18 | 164 |
| Investing | -2 | -46 |
| Financing | 0 | -2 |
| Net Cash Flow | -20 | 116 |
| Free Cash Flow | -28 | 70 |
| CFO/OP | 15 | 69 |
Ratios
| Particulars | Mar 2025 | Mar 2026 |
|---|---|---|
| Debtor Days | 269 | 88 |
| Inventory Days | 450 | 84 |
| Days Payable | 389 | 116 |
| Cash Conversion Cycle | 329 | 56 |
| Working Capital Days | 250 | 34 |
| ROCE % | — | 30% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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34 extracted metrics + investor summaries across FY25–FY26.
Documents
Frequently Asked Questions about SKF India Industrial
What does SKF India (Industrial) Ltd do?
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Company Information
SKF India Industrial Ltd is in the business of manufacturing and dealing in products, solutions, and services related to rolling bearings, seals, mechatronics, and lubrication systems.[1]
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