Industry profile: India has overtaken the United States to emerge as the second-largest casting producer, behind China last year. The production in the country stood at 11 Million tonnes, valued at 19 Billion U.S Dollars in 2017, behind China, which produces 40 million tonnes, registering a growth of four to five percent, exports recorded 2.7 billion dollars, and the industry employs about 2.5 million people. The continuously growing automobile industry is one of the big customers of the industry, and it also receives orders from offshore companies.
Aluminum castings contributed 15 percent of the total casting production. They added that the segment was likely to grow further as automobile manufacturers focused on reducing the weight of the vehicles, including engines and doors. South India, particularly Tamil Nadu and Karnataka, contributes 50 percent of India’s total production of castings.
Company profile: Schaeffler India Limited was founded in 1962 and is headquartered in Vadodara, India. Schaeffler India Limited is a subsidiary of FAG Kugelfischer GmbH.
Schaeffler India Limited manufactures and sells Ball, roller bearings, and related components worldwide. It offers ball, cylindrical, spherical, and tapered roller bearings and wheel bearings. The company primarily serves construction machinery, electrical engineering, fluid technology, conveying equipment, industrial gears, mining and cement, power generation, agricultural engineering, steel plants, motorcycles, textile machinery, machine tools, wind power, pulp, and paper, and other industries. The company was formerly known as FAG Bearings India Limited and changed its name to Schaeffler India Limited in July 2017.
Shareholding Pattern: BSE Filing
Financials and Ratio: [table id=212 /]
Future Prospects: The First factor of Being an MNC makes it attractive for investment. Being Debt free company makes it more appealing.
