SKF India registers Sales of INR 29555.6 million in 2015-16
2016 May 10, 19:15 IST
The Board of Directors of SKF India Limited, India’s leading technology and solutions provider of bearings, seals, lubrication systems, mechatronics and services, today approved the audited annual financial results for the year ended March 31, 2016.
The financial highlights are as given below:
- Net Sales for the year ended March 31, 2016 amounted to INR 29555.6 million as compared to Rs 23,726.4 million in the previous year.
- The Profit after tax for the period amounted to INR 2571.5 million compared to Rs 2027.7 million during the previous year.
- The Board has recommended a dividend of Rs 15 (150%) per share as compared to Rs 10 (100%) per share in the previous year.
- During the year the Company has changed its accounting year from calendar year to fiscal year April to March. The current accounting period of the Company covered 15 months starting from 1 January 2015 to 31 March 2016 and therefore previous year figures are not directly comparable.
Commenting on the occasion, Mr. Shishir Joshipura, Managing Director and Country Head, SKF India said, “The economic activity in year 2015-16 was built on hopes of a bright future and realities of challenging market conditions. Strong economic headwinds for most of the year demanded measures on several fronts from market leaders and SKF continued its deep investment in technology and customer relationships. We remain optimistic that the market conditions will turn favorable at the back of several initiatives launched by the government. SKF is well prepared to build on its leadership position and partner the customers in their growth.
For further information, please contact:
Vijay Chaudhury, +91 20 6611 2250; Vijay.Chaudhury@skf.com
"SKF is a leading global supplier of bearings, seals, mechatronics, lubrication systems, and services which include technical support, maintenance and reliability services, engineering consulting and training. SKF is represented in more than 130 countries and has around 15,000 distributor locations worldwide. Annual sales in 2015 were SEK 75997 million and the number of employees was 46635. www.skf.com”
SKF Group started trading operations in India in Kolkata in 1923 and since then the Group's operations have been consolidated into SKF India Limited. SKF India also has an associate company called SKF Technologies (India) Pvt. Ltd providing Sealing Solutions and Industrial Bearings. The company has manufacturing plants in Pune, Bangalore, and Haridwar.
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