Q1 2024 Schaeffler India Ltd Earnings Call Transcript
Key Points
- Schaeffler India Ltd (BOM:505790) received multiple awards for customer centricity and CSR initiatives, including recognition from TAFE and John Deere.
- The company reported a 9.2% year-on-year growth in revenue for Q1 2024, reaching INR 1,849 crores.
- EBITDA margin improved to 18.3% in Q1 2024, up from 17.9% in the preceding quarter.
- The company has successfully restructured its divisions to better align with emerging market trends, including the creation of an e-mobility division.
- Schaeffler India Ltd (BOM:505790) continues to invest in localization and capacity expansion, with a CapEx of INR 173 crores in Q1 2024.
- Free cash flow was negative at INR 25.6 crores in Q1 2024, compared to INR 177 crores in Q4 2023.
- Export revenue saw a decline of INR 20 crores year-on-year due to sluggish demand from Western and Asian markets.
- The tractor segment showed a 15% decline in Q1 2024 compared to the same period last year.
- Working capital increased to INR 1,352 crores, which may indicate higher inventory levels.
- The company faces challenges in maintaining consistent performance in the commercial vehicles sector, which has been muted.
Ladies and gentlemen, good day and welcome to Schaeffler India Limited Q1 CY24 earning conference call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Ms. Gauri Kanikar. Thank you. And over to you, ma'am.
Good morning, everyone. Welcome to Schaeffler India Limited's earnings conference call for the first quarter ended March 31, 2024. We have with us from the management today Mr. Harsha Kadam, our Managing Director and Chief Executive Officer; and Hardevi Vazirani, our Director, Finance, and Chief Financial Officer. Mr. Kadam will first take us through a short presentation on the results, after which we can open the floor for questions. Thank you.
And over to you, Mr. Kadam.
Okay, good morning. This is Harsha Kadam. And along with me is my CFO here.
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