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Schaeffler India's stock zooms on launch of gear system for hybrid vehicles

The company on Tuesday said that it has launched planetary gear system (PGS) from Schaeffler's Hosur Plant

Indian automotive aftermarket biz to grow to $30 billion by 2026

SI Reporter New Delhi

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Shares of Schaeffler India soared up to 3.52 per cent at Rs 4814.50 per share on the BSE in Tuesday’s intraday trade. The share price of the company is presently trading near its 52-week high of Rs 4,950, hit on June 18, 2024. The company had hit its 52-week low of Rs 2,616.05 on November 02, 2023. 

However, today’s uptick in the stock price came after the company on Tuesday said that it has launched planetary gear system (PGS) from Schaeffler’s Hosur Plant. This solution, the company said, is specifically designed for dedicated hybrid transmission (DHT) vehicles in India. 

Schaeffler India is one of India's major ball and rolling bearing manufacturers servicing the automotive and multiple core industrial segments. The company is a leading supplier of innovative solutions to automotive and industrial sectors.

In the first quarter of 2024, Schaeffler India Limited reported revenue from operations (net) of Rs 1,849.2 crore, marking a 9.2 per cent increase compared to the corresponding quarter of 2023. However, it represented a slight decrease of 0.3 per cent from the preceding quarter. The net profit for Q1’24 amounted to Rs 227.7 crore, with a net profit margin of 12.3 per cent.

At 01:07 PM; the share of the company was 2.09 per cent higher at Rs 4,747.75 per share on the BSE. By comparison, the BSE Sensex was trading 0.62 per cent higher at 77,819 levels. 

The shares of the company are presently trading at a price to earnings multiple of 79.24 times with an earning per share of Rs 58.69.

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First Published: Jun 25 2024 | 1:18 PM IST

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