SKF India net sales and profit for 2014 increases

SKF India net sales and profit for 2014 increases

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SKF India net sales for 2014 is Rs 23726 million, an increase of 6 pct over 2013. Profit after Tax for 2014 amounted to Rs 2028 million,equating to 22 pct increase over 2013. Earnings per share for the year is Rs 38.5. Board of Directors recommendeds final dividend of 25 pct for 2014. In addition to interim dividend of 75 pct paid in September 2014, it makes total 100 pct for last year.

 SKF India financial results Q4 2014
SKF India announces financial results for the fourth quarter and year ended December 2014

Shishir Joshipura, Managing Director and Country head, SKF India says amidst continued challenges on several fronts in the current economic environment, 2014 ended on a note of cautious optimism. The bearings, seals, lubrication systems, mechatronics and services company hopes for a better future outlook.

Economy continued on a volatile path as in the previous year. SKF India continues to focus on working closely with customers. Innovative solutions helped report a stable and improved performance. Going forward, a favourable policy environment and positive initiatives like ‘Make in India’ will boost investor confidence and act as a catalyst for overall industry growth.

Earlier in the month, SKF signed a significant agreement to supply Volvo Car Corporation with wheel hub bearing units for their future car lines. Stephane Le-Mounier, President, Automotive Market, says working with Volvo Cars in developing solutions that meet their high demands is a successful team effort. The focus is on developing solutions that support high performance and improved energy efficiency. SKF’s global manufacturing and technical support footprint contributed effectively in securing the agreement.

SKF wheel hub bearing units with low friction grease was specifically developed to meet Volvo Cars’performance, weight reduction and stiffness, demands. It positively effects a comfy driving experience and lower fuel consumption.