SKF India Indus. Q1 FY27 Results (NSE: SKFINDUS)
Signal: Steady quarter
The read
The key trajectory is a revenue-led but margin-dilutive quarter: revenue rose 18.3% YoY to ₹970.77 Cr and 2.6% QoQ, yet PBT fell 10.5% YoY to ₹86.92 Cr and PAT fell 13.8% to ₹61.92 Cr, with the company specifically citing currency and demerger-related expenses.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹970.77 Cr | 18.3% | 2.6% |
| EBIT | ₹87.48 Cr | N/A | |
| Net profit | ₹61.92 Cr | -13.8% | |
| EPS | ₹12.52 | N/A | |
| EBIT margin | 10.1% |
P&L walk
Standalone revenue was ₹970.77 Cr, up 18.3% YoY and 2.6% QoQ, while EBITDA margin was 10.1%; PBT declined 10.5% YoY and 3.4% QoQ to ₹86.92 Cr, and PAT fell 13.8% YoY to ₹61.92 Cr as currency and demerger-related expenses weighed on profitability.
Key positives
- Revenue reached ₹970.77 Cr, growing 18.3% YoY and 2.6% QoQ, supported by demand traction across Wind, General Machinery and Agriculture.
- Management reported a 9.0% PBT margin despite currency and demerger-related headwinds, indicating that the business remained profitable while expanding sales.
Key concerns
- PBT declined 10.5% YoY to ₹86.92 Cr even as revenue grew 18.3% YoY, indicating material margin absorption.
- PAT fell 13.8% YoY to ₹61.92 Cr and 47.9% QoQ, while PAT margin contracted to 6.4% from 8.8% YoY and 12.6% in Q4FY26.
- EBITDA margin was 10.1%, below the 12.7% level cited for Q1FY26 in the prior-results context, making margin recovery the main confirmation point for the growth trajectory.
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