1. Opening Hook
Just when you thought only politicians deliver “acchhe din” speeches, Schaeffler India casually dropped a 20%+ EBITDA quarter—like a student who suddenly tops class after years of “steady improvement.” Meanwhile, passenger vehicle buyers waited for GST clarity like monks awaiting enlightenment.
As theQuransays, “Indeed, with hardship comes ease.” Schaeffler clearly took that to heart—ease came in the form of localization, fixed-cost absorption, and customers handing out awards like Diwali sweets.
Buckle up; things get greasier (in a good way) from here. 🛠️
2. At a Glance
- Revenue ₹2,360 cr – Up 14% YoY:Bearings doing yoga, automotive sprinting.
- EBITDA margin 20.2% – Record high:CFO probably framed this number at home.
- PAT ₹307 cr – Up 24% YoY:Earnings flex their muscles like CVs on a highway.
- Working Capital 19%:Inventory built up for GST-induced demand party.
- Exports +27% YTD:Low base + Europe’s weakness = India saves the day.
- Localization 79%:Atmanirbhar Bharat meets German discipline.
- Free Cash Flow ₹223 cr:Cash flowing smoother than precision bearings.
3. Management’s Key Commentary (Quotes + Sarcastic Translations)
“EBITDA crossed 20% for the first time.”(Translation: Someone please alert our parent company—we’ve ascended. 😏)
“Localization has touched 79%.”(Translation: Imported bearings? Never heard of them.)
“Passenger vehicle sales were muted due to GST reforms arriving late.”(Translation: Customers were confused, not broke.)
“Industrial business dips are timing issues, not structural.”(Translation: Don’t panic. It’s just project-based mood swings.)
“Intercompany export growth is due to low base.”(Translation: Calm down, it’s not a Europe boom.)
“Koovers (e-commerce) will break even in 2027.”(Translation: Start-up losses are a feature, not a bug.)
“We won several new clutch and bearing orders.”(Translation: Competitors, start sweating.)
“We can’t share EV localization numbers due to NDA.”(Translation: We know, but we can’t tell
you. And it’s killing you.)
4. Numbers Decoded
Metric | Q3 CY25 | YoY Change | One-Line Analysis
----------------------------|-----------------|----------------|-----------------------------------------------
Revenue | ₹2,360 cr | +13.9% | Strong auto, stable industrial, timing wins.
EBITDA | ₹476 cr | +24% | Margins sharper than a CNC tool.
EBITDA Margin | 20.2% | +150 bps | The happiest number on this call.
PAT | ₹307 cr | +24% | Profits rolling like precision balls.
Free Cash Flow | ₹223 cr | Strong | Bearings + cash = CFO’s dream life.
Localization Rate | 79% | +300 bps YoY | Import bill on life support.
Domestic Growth | ~5% | Moderate | India steady, not flashy.
Exports (YTD) | +27.5% | High | Base effect performing miracles.
B&IS Growth (YTD) | 4.1% | Weak-ish | Industrial: fashionably late to the party.
Automotive Tech (YTD) | +18.7% | Strong | EV + ICE = perfect blend.5. Analyst Q&A – Condensed & Roasted
Q: Auto OEMs pushing production post-GST?A: Yes, optimism is back.(Translation: Everyone waited.
