SKF India
registers Sales of INR 29555.6 million in 2015-16
The Board of Directors of SKF India Limited, India’s leading technology and solutions provider of bearings, seals, lubrication systems, mechatronics and services,approved the audited annual financial results for the year ended March 31, 2016.
The
financial highlights are as given below:
·
Net Sales for theyear ended March 31, 2016
amounted to INR 29555.6 million as compared to Rs.23,726.4 million in the previous
year.
·
The Profit after tax for the period amounted to
INR 2571.5 million compared
to Rs.2027.7 million during
the previous year.
·
The Board has recommended a dividend of Rs. 15 (150%)
per share as compared to Rs. 10 (100%) per share in the previous year.
·
During
the year the Company has changed its accounting year from calendar year to
fiscal year April to March. The current accounting period of the Company
covered 15 months starting from 1 January 2015 to 31 March 2016 and therefore
previous year figures are not directly comparable.
Commenting on the occasion, Mr. ShishirJoshipura,
Managing Director and Country Head, SKF India said, “The economic activity in year
2015-16 was built on hopes of a bright future and realities of challenging
market conditions. Strong economic headwinds for most of the year demanded
measures on several fronts from market leaders and SKF continued its deep
investment in technology and customer relationships. We remain optimistic that
the market conditions will turn favorable at the back of several initiatives
launched by the government.
SKF is well prepared to build on its leadership
position and partner the customers in their growth.
"SKF is a
leading global supplier of bearings, seals, mechatronics, lubrication systems, and
services which include technical support, maintenance and reliability services,
engineering consulting and training. SKF is represented in more than 130
countries and has around 15,000 distributor locations worldwide. Annual sales
in 2015 were SEK
75997 million and
the number of employees was 46635. www.skf.com”
SKF Group started trading operations in India in
Kolkata in 1923 and since then the Group's operations have been consolidated
into SKF India Limited. SKF India also has an associate company called SKF
Technologies (India) Pvt. Ltd providing Sealing Solutions and Industrial
Bearings. The company has manufacturing plants in Pune, Bangalore, and
Haridwar.
® SKF is a registered trademark of the SKF Group.
™ BeyondZero is a trademark of the SKF Group.
™ BeyondZero is a trademark of the SKF Group.
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