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Schaeffler India Ltd.

BSE: 505790 Sector: Engineering
NSE: SCHAEFFLER ISIN Code: INE513A01014
BSE 00:00 | 15 Feb 5248.00 -135.15
(-2.51%)
OPEN

5383.15

HIGH

5383.15

LOW

5200.00

NSE 00:00 | 15 Feb 5276.45 -127.35
(-2.36%)
OPEN

5390.00

HIGH

5390.00

LOW

5201.05

OPEN 5383.15
PREVIOUS CLOSE 5383.15
VOLUME 680
52-Week high 5836.30
52-Week low 4599.00
P/E 36.65
Mkt Cap.(Rs cr) 16,405
Buy Price 5248.00
Buy Qty 3.00
Sell Price 5268.25
Sell Qty 1.00
OPEN 5383.15
CLOSE 5383.15
VOLUME 680
52-Week high 5836.30
52-Week low 4599.00
P/E 36.65
Mkt Cap.(Rs cr) 16,405
Buy Price 5248.00
Buy Qty 3.00
Sell Price 5268.25
Sell Qty 1.00

Schaeffler India Ltd. (SCHAEFFLER) - Company History

Schaeffler India Limited previously known as FAG Bearings India Ltd is one of India's major ball and rolling bearing manufacturers servicing the automotive and multiple core industrial segments. The company's manufacturing facilities are located at Maneja and Savli near Vodadara Gujarat. Schaeffler India Limited is part of the world-renowned Euro 14 billion global automotive and industrial supplier - Schaeffler AG headquartered in Herzogenaurach Germany.Schaeffler India is No.1 supplier of hub bearings to the Indian Passenger Car Industry. Indian Railways has been an important customer of Schaeffler India. Schaeffler India caters to all major industry segments including: Construction Machinery Electrical Engineering Fluid Technology Conveying equipment Industrial Gears Mining & Cement Power Generation Agricultural Engineering Steel plants Motorcycles Textile Machinery Machine tools Wind power and Pulp and Paper. Bearings from the Indian plant are exported to Europe US and Asia. International customers using Schaefffler India products include: Daimler Chrysler Volvo Volkswagen Renault Voith Otis and General Dynamics.FAG Bearings India Ltd was incorporated as Precision Bearings India Ltd in the year 1962. In the year 1986 the company changed their name to FAG Precision Bearings Ltd and in the year 1999 they got their present name FAG Bearings India Ltd. In the year 1993 and 1998 they became the first Indian Bearing company to achieve ISO 9001 and QS 9000 certification respectively and in the year 1999 they received ISO 14001 certification.In the year 2000 the company set up India's first production facilities to produce hub bearings. In the year 2001 the company entered a joint venture agreement with FAG Kugelfischer Georg Schaefer AG of Germany and formed FAG Roller Bearings Private Ltd for manufacture of taper roller bearings at Pune in Maharashtra. The Pune plant has the production capacity of 2 million tapered roller bearings of world class quality for automotive and industrial applications and in April 2002 they launched their product in the Indian Market.In 2002 at the global level FAG Kugelfischer Georg Schfer KGaA became the part of Schaeffler Group. In 2003 FAG Bearings India established Validation Centre. In 2006 FAG Bearings India set up Special Machine Building unit. In 2007 FAG Bearings India commenced production of E1 spherical roller bearing. In 2009 FAG Bearings India achieved OHSAS 18001 Certification. In 2012 the company's new manufacturing unit at Savli near Vadodara was inaugurated. The company commenced production of Low-friction Ball Bearings and Large Size Bearings in October 2012.On 7 July 2017 FAG Bearings India Limited announced name change to Schaeffler India Limited. This change of name is an important step in the rollout of the new global strategy Mobility for tomorrow of the company's parent group Schaeffler AG.On 27 November 2017 Schaeffler India's INA Bearings Pvt Limited announced the expansion of its operations at Talegaon Pune with an investment outlay of Rs 200 crore. The expansion will include a new manufacturing facility and a new R&D facility within the existing premises. The new production facility will manufacture engine and transmission components serving the domestic and exports markets. The R&D facility will focus on enhancing product development and engineering capabilities driving innovation for customers.On 22 March 2018 Schaeffler India Limited announced that the requisite majority of the shareholders and creditors of the company have voted in favour of the scheme of amalgamation of the two unlisted entities INA Bearings India Private Limited and LuK India Private Limited with Schaeffler India Limited at their respective meetings held on 20 March 2018 in line with the NCLT Mumbai order and SEBI requirements. The company has also announced that requisite majority of shareholders and creditors of INA India at their respective meetings directed by NCLT Mumbai have also voted in favour of the merger. NCLT Chennai had dispensed with convening the meetings of creditors and shareholders of LuK India. The company has already obtained no objection clearance from SEBI. Under the scheme after the sanction of NCLT and post completion of other legal formalities Schaeffler India Limited shall issue 14.64 million new equity shares in the ratio of 10 equity shares to shareholders of INA India for every 65 equity shares held and 10 equity shares to shareholders of LuK India for every 35 equity shares held. Shareholding of the Promoter group post the merger will be 74.13%. The merger is aimed at leveraging the synergies of the three companies.On 10 May 2018 Schaeffler India Ltd announced the launch of its new range of FAG SNV Housings with an aim to provide similar German quality products manufactured locally. SNV Housings' application includes agricultural machinery paper processing industry mining materials processing and steel industry as well as power stations.