SKF India Industrial
SKF India (Industrial) Ltd
- P/E
- 0.03
Key Fundamentals
MicrocapPrice-based figures as of · EPS basis: Standalone · TTM
- ROCE
- 29.90%
- Debt to Equity
- 0.00
- EPS (TTM)
- ₹76,956.45
- Book Value
- ₹298.73
- Market Cap
- —
- P/E (TTM)
- 0.03
- P/B
- 8.16
- ROE
- 26.60%
- Dividend Yield
- 0.82%
- EBITDA
- ₹449 Cr
- 52W High
- ₹3,218.70
- 52W Low
- ₹1,994.10
- Volume
- 0
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 95/100
Category scores
- Quality
- 44
- Weak
- Returns, margins, earnings quality 22% weight
- Valuation
- 58
- Good
- Cheap vs sector & own history 24% weight
- Growth
- 99
- Strong
- Sales & profit trajectory 9% weight
- Financial Health
- 76
- Strong
- Solvency, leverage, coverage 9% weight
- Momentum
- 40
- Weak
- Trend strength, vol-adjusted 12% weight
- Ownership
- 50
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
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 8.14 times its book value
- Tax rate seems low
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 11 | 6 | 2 |
| Oscillators | Bearish | 2 | 6 | 1 |
| Moving Averages | Strong Bearish | 9 | 0 | 1 |
Oscillators
Bearish
Overall
Strong Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 41.03
- Neutral
- MACD (12,26,9)
- −86.69
- Bullish
- SMA (50)
- 2,732.85
- Bearish
- SMA (200)
- 2,535.85
- Bearish
As of
Analyst Rating
2 of 4 analysts rate Buy, 2 Hold, 0 Sell.
As of
Growth Rate
From the financial statements below. 1Y: fiscal year to Mar 2026 against Mar 2025.
Revenue
| 1Y | +377.12% |
|---|
Net profit
| 1Y | +80.17% |
|---|
Operating cash flow
| 1Y | Turned positive |
|---|
Operating margin· change in pp
| 1Y | −10.99 pp |
|---|
Trailing twelve months: Fewer than eight quarters are reported, so there is no trailing-twelve-month figure.
Revenue by year
| Mar 2025 | ₹721 Cr |
|---|---|
| Mar 2026 | ₹3,440 Cr |
Net profit by year
| Mar 2025 | ₹121 Cr |
|---|---|
| Mar 2026 | ₹218 Cr |
Analyst Forecasts
AI Analysis — Bull vs Bear
SKF India (Industrial) Ltd is the industrial bearings business demerged from SKF India Ltd with effect from October 1, 2025. It serves the railways, wind, metals, cement, mining and heavy engineering sectors. The stock has a market cap of about ₹14,352 crore and trades at a P/E of 70x, 9.85x book value and a 0.68% dividend yield, with last-year ROE of 27% and an almost debt-free balance sheet. In Q1 FY27 standalone revenue grew 18.3% YoY to about ₹971 crore, while net profit fell 13.9% YoY to ₹61.9 crore and EBITDA margin dropped to 9.2%.
- Q1 FY27 standalone revenue rose 18.3% YoY to about ₹971 crore, which points to solid demand across its industrial end-markets.
- Last-year ROE of 27% shows the business earns high returns on shareholder capital, which helps explain its premium valuation.
- The company is almost debt free, so interest costs are minimal and it has room to fund capacity expansion from internal accruals.
- Debtor days fell from 178 to 87.8, which means the company is collecting cash from customers much faster.
- Working capital days fell from 142 to 33.8, which frees up cash and should support better cash conversion as revenue grows.
- In Q4 FY26, its second full quarter as a standalone entity, sales grew 9.8% QoQ, with management citing momentum in wind, railways and metals.
- As a focused pure-play industrial bearings business within the global SKF group, it is positioned for India's capex, railway modernisation and renewable energy spending, all of which feed into its ₹14,352 crore market valuation.
- The 0.68% dividend yield gives a small cash return to shareholders while the company keeps most of its earnings for growth.
- A P/E of 70x prices in strong earnings growth for years ahead, so any earnings miss leaves little room before the valuation is questioned.
- The stock trades at 9.85x book value (9.77x by another measure), which is high even for a well-capitalised industrial company.
- Q1 FY27 standalone net profit fell 13.9% YoY to ₹61.9 crore even though revenue grew 18.3%, so higher sales did not turn into higher profit.
- EBITDA margin fell to 9.2% in Q1 FY27 and reports said margins missed targets, which raises concerns about input costs, pricing power and the extra overhead of running as a standalone company.
- The TTM sales growth of 377% and profit growth of 206% mostly reflect the October 2025 demerger rather than organic growth, and there is no 3, 5 or 10 year history for this entity to judge trends against.
- The tax rate looks low, so reported profits behind the 70x P/E may drop if the effective tax rate returns to normal levels.
- With a dividend yield of only 0.68%, shareholder returns depend almost entirely on earnings growth justifying the 70x P/E.
- Demand is tied to cyclical sectors such as metals, mining, cement and wind, so a capex slowdown could hit revenue that has been growing about 18% a year.
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: The only recent news is a planned leadership handover at SKF India (Industrial). Mukund Vasudevan is stepping down as MD for a new role within the SKF Group and moving to a non-executive board seat, and Sujeeth Pai is proposed as the new MD. Since the change happens inside the parent group and Vasudevan stays on the board, the risk to continuity looks low. These articles say nothing about the stock's operating performance or whether its trend is improving. Watch the postal ballot result after October 15, 2026, and any early strategy signals from the new MD.
- MD transition via postal ballot Sep 11
SKF India (Industrial) is seeking shareholder approval by postal ballot to appoint Sujeeth Pai as Managing Director and Mukund Vasudevan as Non-Executive Director. E-voting runs from September 16 to October 15, 2026.
- Vasudevan resigns as MD Sep 1
The board accepted Mukund Vasudevan's resignation as Managing Director, effective August 31, 2026, because of a role change within the SKF Group. He stays connected to the company through his proposed appointment as Non-Executive Director.
Quarterly Results
₹ Cr| 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 (₹) | Not comparable with later periods: it is stated on a share count about a hundred times or more different, so it is left blank. | Not comparable with later periods: it is stated on a share count about a hundred times or more different, so it is left blank. | Not comparable with later periods: it is stated on a share count about a hundred times or more different, so it is left blank. | −10.13 | 24.06 | 12.52 |
Profit & Loss
₹ Cr| 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 (₹) | Not comparable with later periods: it is stated on a share count about a hundred times or more different, so it is left blank. | 44.03 | 76,956 |
| Div. Payout % | 0% | 23% | — |
Balance Sheet
₹ Cr| 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
₹ Cr| 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/EBITDA | 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
Log in to view SKF India Industrial insights
56 extracted metrics across FY25–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript PPT Recording
- Q4 FY26 concall · May 2026Transcript PPT
- General announcements 12 Oct 2026
Frequently Asked Questions about SKF India Industrial
What does SKF India (Industrial) Ltd do?
Where is SKF India (Industrial) Ltd (SKFINDUS) listed?
Which sector does SKF India (Industrial) Ltd belong to?
What is the PE ratio of SKF India (Industrial) Ltd?
What is the 52-week high and low of SKF India (Industrial) Ltd?
Does SKF India (Industrial) Ltd pay dividends?
What is the Return on Equity (ROE) of SKF India (Industrial) Ltd?
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.
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