SKF India Q2 FY27 Results (NSE: SKFINDIA)
Signal: Margin expansion
The read
The Q2FY27 inflection is operational: revenue reached INR 5,958 million, up 20.1% YoY, while EBITDA grew 34.5% and margin expanded 155bps to 14.5%; momentum is broad-based across automotive segments, but PAT and EPS disclosure is absent and the margin improvement mechanism beyond stated cost discipline is not quantified.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹595.8 Cr | +20.1% | N/A |
| EBIT margin | 14.5% |
P&L walk
Standalone revenue was INR 5,958 million, up 20.1% YoY, while EBITDA rose 34.5% to INR 865 million and EBITDA margin expanded 155bps to 14.5%; PBT increased 77.2% to INR 698 million, with the filing attributing growth to broad-based automotive demand and disciplined cost management.
Key positives
- Revenue from operations of INR 5,958 million grew 20.1% YoY, supported by demand across two- and three-wheelers, passenger vehicles and exports.
- EBITDA of INR 865 million grew 34.5% YoY versus revenue growth of 20.1%, while EBITDA margin expanded 155bps to 14.5%.
- PBT increased 77.2% YoY to INR 698 million, and H1FY27 revenue of INR 11,836 million grew 23.5% YoY.
Key concerns
- PAT and EPS were not disclosed in the press release, preventing a complete earnings-quality and per-share assessment.
- The filing does not disclose raw-material costs, employee costs, depreciation, finance costs or other income, so the source of the 155bps EBITDA-margin expansion cannot be fully separated.
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