Schaeffler India stock zooms 13% post Q4 earnings

Schaeffler India shares rose nearly 13% today after the manufacturer of ball and roller bearing reported a 34.61% rise in Q4 net profit.The stock has gained after 4 days of consecutive fall. It opened with a gain of 4.7% at Rs 1,708 today. The shares touched an intraday high of Rs 1,840, rising 12.79% on BSE.

Schaeffler India shares are trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The large cap share has gained 77% in one year and risen 3.67% since the beginning of this year.

Total 0.21 lakh shares of the firm changed hands amounting to a turnover of Rs 3.67 crore on BSE. Market cap of the firm rose to Rs 28,450 crore on BSE.

Net profit rose 34.61% to Rs 190.64 crore in Q4 against Rs 141 crore profit in Q4 of last fiscal. Sales climbed 19.58% to Rs 1523.22 crore in Q4 against quarter ended December 2020.

Profit before tax margin for the December quarter stood at 16.9% compared to 15% during the corresponding quarter of 2020.

Total expenses rose 17.29% year-on-year to Rs 1,288.13 crore in the last quarter.

Operating profit climbed 25% to Rs 287.13 crore in Q4 against Rs 229.07 crore in the December quarter of 2020. For the full year 2021, net profit zoomed 116.21% to Rs 629.12 crore from Rs 290.97 crore.

Sales jumped 47.81% to Rs 5560.51 crore in 2021 against  Rs 3,761 crore sales in 2020.  The board recommended a dividend of Rs 16 per equity share for the year ended 31 December 2021.

Schaeffler India is an India-based industrial and automotive supplier. The company is a manufacturer of ball and roller bearing. Its products and solutions include automotive technologies, automotive aftermarket, industrial, special machinery and digital products.