SKFINDIA

SKF India share price & financials

Price
₹1,638.3
Market cap
₹7.9k Cr
Sector
Capital Goods
Calls analysed
7
Latest concall · Q1 FY27 · call held 17 Aug 2026

SKF India Q1 FY27

Revenue ₹590 cr +27%Gross Margin 51% −1%

What went well

  • Revenue of INR 590 crores, up 27% YoY, demonstrating strong growth.
  • Profit Before Tax (PBT) margin at 14.3%, significantly improving by 527 bps QoQ (excluding exceptional items) and 61 bps YoY.
  • Gross margin improved by 6.5% QoQ to 51%.

What to watch

  • Revenue declined 1% QoQ, and sales (products only) marginally dropped 0.7% QoQ.
  • Gross margin declined 1% YoY, impacted by mix and inventory revaluation.
Read the full call →

What SKF India does

SKF India manufactures and supplies bearings, seals and lubrication-system components for e-powertrain, wheel-end, driveline, engine, suspension and steering applications, serving vehicle OEMs (cars, two/three-wheelers, light and heavy trucks, trailers, buses, including EVs) and the automotive aftermarket through a distributor network. It is the Indian listed subsidiary of Sweden's SKF Group, tracing its India operations to 1961. As part of a FY2025-26 group-wide restructuring, SKF India demerged its Industrial business (bearings, seals, lubrication and rotating-equipment services for railways, heavy industries and other non-automotive sectors) into a separate wholly owned entity, SKF India (Industrial) Limited, leaving the listed company focused on the automotive segment. It manufactures at plants in Pune, Bengaluru and Haridwar.

Segments

  • Automotive (current core business)
  • Industrial (demerged out in FY2025-26)
Manufacturing facilities
3 (Pune, Bengaluru, Haridwar)
Automotive aftermarket distributor network
320+ distributors
Company offices in India
4
R&D / application-engineering centres
Global Technical Centre and Application Development Centre, both in Bengaluru
Remanufacturing centre
1 (Ahmedabad, opened 2021)
Green power generation capacity
50 MW
Founded 1961Headquarters Chinchwad, Pune, Maharashtra, IndiaEmployees 1,727 (31 March 2025) Company website

Guidance record · Q1 FY27

what the last two calls moved 17 tracked 4 delivered 3 missed 10 open
  • PBT Margin delivered said Q4 FY26 Promised: 11-12% in the near future Q1 FY27: The company reported a PBT margin of 14.3%, exceeding the guided range of 11-12%.
  • Annual Revenue Growth missed said Q3 FY24 Promised: 10-12% for FY25 Q1 FY27: Promise relates to FY25 and was not discussed. The final verdict is 'missed'.
  • Automotive Growth Rate revised up said Q4 FY25 Promised: 10% to 12% until FY28 Q1 FY27: Management revised FY27 revenue growth guidance significantly upwards to 'close to 20%', exceeding the original 10-12% target.

All 17 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 27.3%, net profit down 47.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue399 559 493 462 496 +24%577 +3%595 +21%588 +27%
EBITDA63 106 123 74 58 −8%82 −23%33 −73%88 +19%
Net profit94 110 203 119 106 +13%62 −44%-20 −110%62 −48%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −68.9% 1Y

₹2.0k₹3.0k₹4.0k₹5.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q4 FY26 — 21 May 2026Q1 FY27 — 17 Aug 2026

1Y: ₹4,908 on 10 Sept 2025 → ₹1,527.8. High ₹5,008.4 (14 Oct 2025), low ₹1,413.7 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
+5.1%
17 Aug
Q4 FY26
+2.7%
21 May

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 20.9% a year over 3 years, FY23 to FY26. Operating margin narrowed to 11.6%.

Year endingFY23FY24FY25FY26
Revenue₹4.3k Cr₹4.6k Cr₹2.7k Cr₹2.1k Cr
Operating profit₹750 Cr₹712 Cr₹486 Cr₹247 Cr
Operating margin17.4%15.6%18.3%11.6%
Interest₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Depreciation₹67 Cr₹75 Cr₹60 Cr₹63 Cr
Net profit₹524 Cr₹552 Cr₹566 Cr₹267 Cr
Net margin12.2%12.1%21.3%12.5%
Cash from operations₹690 Cr₹624 Cr₹203 Cr₹363 Cr
Free cash flow₹585 Cr₹496 Cr₹72 Cr₹134 Cr
ROCE34.0%29.0%13.0%13.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹49 Cr₹49 Cr₹49 Cr₹49 Cr₹49 Cr₹49 Cr
Reserves₹1.5k Cr₹1.8k Cr₹2.3k Cr₹2.6k Cr₹2.7k Cr₹1.3k Cr
Borrowings₹18 Cr₹16 Cr₹14 Cr₹12 Cr₹2 Cr₹3 Cr
Other liabilities₹721 Cr₹713 Cr₹822 Cr₹957 Cr₹1.1k Cr₹747 Cr
Total liabilities₹2.3k Cr₹2.6k Cr₹3.2k Cr₹3.7k Cr₹3.9k Cr₹2.1k Cr
Fixed assets₹345 Cr₹402 Cr₹424 Cr₹472 Cr₹408 Cr₹440 Cr
Capital work in progress₹65 Cr₹52 Cr₹63 Cr₹89 Cr₹56 Cr₹28 Cr
Investments₹2 Cr₹2 Cr₹2 Cr₹9 Cr₹9 Cr₹9 Cr
Other assets₹1.9k Cr₹2.2k Cr₹2.7k Cr₹3.1k Cr₹3.4k Cr₹1.6k Cr
Total assets₹2.3k Cr₹2.6k Cr₹3.2k Cr₹3.7k Cr₹3.9k Cr₹2.1k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −0.66 pp while DIIs added +0.56 pp. The shareholder count grew 4% to 69,291.

Promoters
52.6%
FIIs
6.9%
DIIs
27.2%
Public
13.4%

Since Jun 2025

  • FIIs −0.66 pp
  • DIIs +0.56 pp
  • Public +0.09 pp

How it drifted, 12 quarters

Over this window DIIs fell from 29.2% to 27.2% — −2.0 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 52.6%, FIIs 6.5%, DIIs 29.2%, Public 11.8%.Dec '23: Promoters 52.6%, FIIs 6.6%, DIIs 29.0%, Public 11.8%.Mar '24: Promoters 52.6%, FIIs 6.8%, DIIs 29.0%, Public 11.7%.Jun '24: Promoters 52.6%, FIIs 7.9%, DIIs 28.1%, Public 11.4%.Sep '24: Promoters 52.6%, FIIs 8.3%, DIIs 27.3%, Public 11.9%.Dec '24: Promoters 52.6%, FIIs 8.3%, DIIs 27.1%, Public 11.9%.Mar '25: Promoters 52.6%, FIIs 8.2%, DIIs 26.5%, Public 12.7%.Jun '25: Promoters 52.6%, FIIs 7.5%, DIIs 26.6%, Public 13.3%.Sep '25: Promoters 52.6%, FIIs 7.0%, DIIs 27.0%, Public 13.4%.Dec '25: Promoters 52.6%, FIIs 7.0%, DIIs 26.7%, Public 13.7%.Mar '26: Promoters 52.6%, FIIs 7.1%, DIIs 27.0%, Public 13.3%.Jun '26: Promoters 52.6%, FIIs 6.9%, DIIs 27.2%, Public 13.4%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 1 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of SKF India above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
SKF Vertevo AB (Earstwhile SKF Interim AB) 52.58%newly disclosed
HDFC Mutual Fund - HDFC Mid-Cap Fund Mutual fund9.65%−0.06 pp
Mirae Asset Large & Midcap Fund Mutual fund9.12%unchanged
ICICI Prudential Smallcap Fund Mutual fund2.63%+0.57 pp
SBI Large Cap Fund Mutual fund1.60%unchanged
SKF U.K. Ltd. 0.00%newly disclosed
SKF Forvaltning AB 0.00%newly disclosed
Ab Skf 0.00%newly disclosed
SKF Interim AB —off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in SKFINDIA

Filings to Aug 2026

0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).

Held by funds
₹481 Cr
6 schemes
Biggest holder
HDFC Small Cap Fund
₹164 Cr · 0.4% of that fund
SchemeHoldingLast month
HDFC Small Cap Fund HDFC Mutual Fund₹164 Crheld
HDFC Hybrid Equity Fund HDFC Mutual Fund₹148 Crheld
SBI Large Cap Fund SBI Mutual Fund₹123 Crheld
HDFC Transportation and Logistics Fund HDFC Mutual Fund₹22 Crheld
HDFC Dividend Yield Fund HDFC Mutual Fund₹14 Crheld
HDFC Retirement Savings Fund - Hybrid-Equity Plan HDFC Mutual Fund₹10 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

0 added, 0 trimmed — net 0 shares (+0.0%)

Funds are sitting on
-61%
vs est. average cost
Held by funds
₹481 Cr
6 schemes · ≈ 6.7% of the company
Biggest holder
HDFC Small Cap Fund
₹164 Cr · 0.4% of that fund
Longest holder
SBI Large Cap Fund
5y 1m · since Aug '21

Shares held by these funds −46%

Aug '23 32.09 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹1528, this stock must grow earnings at 35% every year for 7 years. Our analysis caps realistic growth at ~-32%. At that growth it is worth ₹45 — downside of 97%.

Growth the price implies
34.9% a year
for 7 years, fading to 4%
It has actually compounded at
-32.1% a year
net profit, FY23–FY26 · EPS -32.2%
The gap
0.7 pp
-97% downside if it only repeats history
Price today ₹1,527.8 Value at the reference growth ₹44.94

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse SKF India

Guides on how to read this kind of business and the numbers that matter.