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Schaeffler India Ltd.

BSE: 505790 Sector: Engineering
NSE: SCHAEFFLER ISIN Code: INE513A01022
BSE 00:00 | 30 Jun 2290.80 46.70
(2.08%)
OPEN

2247.20

HIGH

2299.00

LOW

2211.00

NSE 00:00 | 30 Jun 2290.50 42.70
(1.90%)
OPEN

2248.45

HIGH

2300.00

LOW

2208.35

OPEN 2247.20
PREVIOUS CLOSE 2244.10
VOLUME 2276
52-Week high 2489.40
52-Week low 1065.00
P/E 51.40
Mkt Cap.(Rs cr) 35,805
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 2247.20
CLOSE 2244.10
VOLUME 2276
52-Week high 2489.40
52-Week low 1065.00
P/E 51.40
Mkt Cap.(Rs cr) 35,805
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Schaeffler India Ltd. (SCHAEFFLER) - Chairman Speech

Company chairman speech

Dear Shareholders

The past two years have tested the resilience of individuals andbusinesses at an unprecedented level. It was no different at Schaeffler India. Howeverdespite the odds stacking up we adapted quickly to the evolving environment and bouncedback with renewed vigour. The grit and determination of our people has enabled us to staythe course even during the much more intense second wave of the pandemic that threatenedto derail the fragile recovery post the first wave.

I hope this letter finds you in good health as we prepare to leave thepandemic behind and gear up for a new and exciting future. However it's better toerr on the side of caution. The past two years have also demonstrated the power of ourcollective ingenuity to ward of a crisis of such magnitude. Inoculating more than abillion in record time speaks volumes of the nation's commitment to protecting itspeople. We ensured 100% vaccination of our colleagues in India.

Reviewing the operating environment

The Indian economy continues recover steadily with the World EconomicForum (WEF) pegging its growth at 8.3% for FY2022 as domestic consumption return topre-pandemic levels. The government's focus on ensuring a broad- based recovery wasalso reflected in the latest Budget 2022-23 speech with thrust on capital investments anddomestic manufacturing.

The automotive sector witnessed a rebound in 2021 but supply chaindisruptions semiconductor shortages and input cost pressures remained an overhang.Favourable government policies such as the extension of FAME-II scheme till 2024 multiplePLI schemes announcement of scrappage policy an rollout of battery swapping policy arelikely to aid growth and address short-term challenges.

The automotive landscape is undergoing a technological transformation.At Schaeffler we are already working on future-ready solutions to support our customersin this transition. Our Aftermarket business is widening its product offerings. On theIndustrial front the core industries recovered and remained buoyed by a gamut ofinitiatives to promote investments and growth in the entire manufacturing value-chain. Ourcontinued sectoral focus network expansion and emphasis on innovation-led offerings havehelped us make long-term gains in the market.

With India's commitment at COP26 to reduce 45% carbon intensity by2030 and reach net zero by 2070 green energy and clean mobility systems have become a keyfocus area. The development of domestic manufacturing ecosystem for renewable technologieshas become more imperative than ever. To that end Schaeffler India is consolidating itsefforts under the larger umbrella of ESG that will help us to take the lead to driveholistic value in the long term.

Making a meaningful difference

Over the last decade we have consciously moved from CSR being acompliance requirement to it being integrated into our business practices. In line withour commitment to driving inclusive growth we continue to undertake focused interventionsunder our umbrella initiative HOPE. Several step change initiatives for communitydevelopment are in place and we added more programmes during the year beyond health andhygiene education and empowerment.

Our most recent initiative to create a self-sufficient model throughwatershed management in a village prone to severe drought is a remarkable example ofelevate the quality of life.

Creating all-round value

During the year the Board has taken progressive steps to ensure thatwe stay on course to deliver sustainable value for our stakeholders. The Board approved ashare split - one equity share of face value of Rs 10 each into five equity shares of facevalue of Rs 2 each.

Schaeffler as a Group has committed to be climate neutral by 2040.Schaeffler India has embarked on this journey to contribute to our global targets whileensuring a responsible and sustainable tomorrow and further solidifying ourstakeholders' trust. We are also integrating ESG considerations into our businesspractices.

We expect to sustain our strong growth momentum driven by a robuststrategy focused on localisation. To stay ahead of the curve we will continue to reviewour progress and revisit our focus areas based on the dynamic environment in which weoperate and the opportunities that emerge. We are developing future-ready technologies todrive sustainable mobility solutions.

On behalf of the Board and the entire team at Schaeffler India

I solicit your continued cooperation and support for all our futureendeavours.

Sincerely
Avinash Gandhi

.