Schaeffler India re-appoints Harsha Kadam as MD & CEO

Schaeffler India on Friday informed that its board has approved the re-appointment of Harsha Kadam, as the managing director (MD) and CEO of the company for a period of three years with effect from October 1, 2024.

Harsha Kadam has pursued BE Mechanical, Bangalore University in 1988. He is an accomplished professional with over more than three decades of invaluable experience in propelling businesses towards profitable growth. His expertise spans across various domains including sales, manufacturing, product design and development, and business excellence.

Kadam has played a pivotal role in navigating the complex and challenging business landscape, leading to exponential growth at Schaeffler India after joining in the year 2018 as President-Industrial Business and later taking up the role of MD & CEO in 2019 for a period of 5 years.

Schaeffler is among the largest industrial and automotive supplier with 3 well known product brands (LuK, INA and FAG), 4 manufacturing plants and 8 sales offices. Schaeffler also has the largest after-market networks serving the industrial and automotive customers.

The company reported 5.89% decline in standalone net profit to Rs 217.38 crore in Q4 CY23 as against Rs 230.98 crore posted in Q4 CY22. Revenue from operations increased 3.37% year on year (YoY) to Rs 1,855.07 crore in the quarter ended 31 December 2023.

The scrip fell 0.43% to ends at Rs 2,946.20 on Friday, 22 March 2024.

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