SKF India Share Price Live

History

SKF India, a renowned manufacturer of ball bearings in India, is affiliated with AB SKF Germany, a global leader in supplying bearings, seals, mechatronics, lubrication systems, and related services. 

The company operates manufacturing facilities in Pune, Bangalore, and Haridwar, serving the automotive and industrial sectors in Northern and Peninsular India. SKF India’s history dates back to 1963, when it was listed on the Bombay Stock Exchange. In 1965, it established its first manufacturing plant in Pune. Over the years, it expanded its operations, including the launch of a state-of-the-art factory in Bangalore in 1989.

In 1997, SKF India acquired CR Seals India Pvt. Ltd., which later became SKF Sealing Solutions India Pvt Ltd. In 2002, the company achieved a notable milestone of ISO/TS-16949 certification for its Automotive Business Unit. SKF India continued to grow and established the SKF Center for Learning in 2002, emphasising its commitment to knowledge and skill development.

The company’s dedication to innovation led to the establishment of the SKF Application Development Center in 2004 and the acquisition of Vibration Engineer and Consultants Pvt Ltd. During this time, SKF India transitioned to a ‘Direct Customer Delivery’ model to expedite the delivery of imported SKF bearings.

In 2007, SKF India introduced power transmission products, such as timing belts and couplings, to the Indian market. The company also partnered with wind power firm Suzlon Energy in 2008, supplying bearings for wind turbines. This partnership was valued at €‎303 million.

In 2015, SKF India signed a strategic agreement with Regen Powertech, a leading Indian wind turbine manufacturer, to supply bearings for wind turbines. The company also ventured into renewable energy by launching a significant rooftop solar installation in Pune in 2016.

In 2020 and 2021, SKF India focused on green manufacturing initiatives and reduced its environmental impact through energy-saving projects and renewable energy investments. The company also contributed to sustainability by recycling steel and bearings, benefiting the environment and increasing profitability.

In FY 21-22, SKF India introduced innovative solutions, such as the SKF Unitised Solution – Wheel Unit and low-noise, low-vibration bearings for electrical motors. The company’s commitment to energy conservation continued with energy-saving projects across its manufacturing facilities. These efforts included solar power initiatives and reducing energy consumption through various modifications and improvements.

Business Segments 

While SKF India doesn’t operate in strictly defined business segments, it categorises its offerings into 5 different platforms:

1. Bearings and Units: This is the traditional core of SKF, encompassing a wide range of ball, roller, and other types of bearings, along with mounted bearing units, for various industrial and automotive applications.
2. Seals: SKF provides various types of seals, including lip seals, O-rings, and labyrinths, to prevent leakage of fluids and protect equipment from contaminants.
3. Mechatronics: This platform comprises intelligent bearing units with integrated sensors and actuators that enable condition monitoring, predictive maintenance, and autonomous lubrication.
4. Lubrication Solutions: SKF offers a range of lubrication systems, greases, and oils to optimise machinery performance, reduce friction, and extend equipment life.
5. Services: SKF provides various services like condition monitoring, asset management, maintenance, training, and engineering support to help customers optimise their machinery operations.

Subsidiaries of SKF India

As of 31st March 2023, there are no subsidiaries or joint venture companies of SKF India. However, SKF India has two associate companies, i.e., Sunstrength Renewables Private Limited and Clean Max Taiyo Private Limited.

Key Personnel 

Manish Bhatnagar, Managing Director

Manish has been the Managing Director of SKF India Limited since August 16, 2018, where he leads the strategic direction of the SKF group in India. With over 28 years of global experience across various industries, including consumer goods, materials, healthcare, and environmental solutions, he has held key leadership positions at companies like Danaher, General Electric, Underwriters Laboratories, and Lakme Lever.

Corporate Actions 

Buyback 

• In 2018, SKF India Limited conducted a buyback of up to 19 lakh shares at ₹2100 per share, totalling ₹399 crore, representing about 3.70% of its total paid-up equity share capital, with a record date of December 21, 2018.
• In 2017, SKF India Limited’s equity buyback plan involved repurchasing 13.94 lakh shares for a total of ₹2,09.18 crore, representing 2.65% of their total shares, with a record date of April 7, 2017.