SKF India slips after weak Q4 results

SKF India lost 4.49% to Rs 1407.15 at 12:22 IST on BSE after net profit fell 15.51% to Rs 40.88 crore on 3.36% growth in total income to Rs 636.99 crore in Q4 December 2014 over Q4 December 2013.

The Q4 result was announced after market hours yesterday, 18 February 2015.

Meanwhile, the S&P BSE Sensex was down 72.96 points or 0.25% at 29,247.30.

On BSE, so far 8,608 shares were traded in the counter as against average daily volume of 11,711 shares in the past one quarter.

The stock hit a high of Rs 1,450 and a low of Rs 1,399.90 so far during the day. The stock had hit a record high of Rs 1.509 on 30 January 2015. The stock had hit a 52-week low of Rs 632.55 on 18 February 2014.

The stock had outperformed the market over the past one month till 18 February 2015, surging 6.3% compared with Sensex's 4.26% rise. The scrip had also outperformed the market in past one quarter, jumping 9.46% as against Sensex's 4.11% rise.

The mid-cap company has equity capital of Rs 52.73 crore. Face value per share is Rs 10.

SKF India's net profit rose 22% to Rs 202.80 crore on 6% growth in net sales to Rs 2372.60 crore in the year ended 31 December 2014 (FY 2014) over the year ended 31 December 2013 (FY 2013).

Commenting on the company's financial performance, Mr. Shishir Joshipura, Managing Director and Country Head, SKF India said, Amidst continued challenges on several fronts on the economic environment, 2014 ended on a note of cautious optimism and hope for a better future. The economy continued on the same volatile path as previous period and our continued focus on working closely with our customers while providing innovative solutions helped us report a stable and improved performance. We are confident that going forward, favorable policy environment and positive initiatives such as 'Make in India' will boost confidence of investors and act as a catalyst for overall growth of the industry.

SKF is a global supplier of bearings, seals, mechatronics, lubrication systems and services which include technical support, maintenance and reliability services, engineering consulting and training.

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