Schaeffler to expand BS VI product portfolio

German auto component group Schaeffler plans to invest Rs. 1,000 crore in its Indian company in a span of three years. Schaeffler India aims to expand its India business to Rs. 8,000 crore.

Schaeffler has four plants and 19 sales offices in India with three major brands - FAG, INA and LuK. The company has manufacturing plant in two places in Vadodara, Gujarat and one each near Pune and Hosur plant.

Post the recent merger of its subsidiaries INA Bearings India and LuK India with itself Schaeffler India is in expansion mode. The company want to bank on the upcoming BS VI regulations that will be applicable on all automakers from April 2020. The new investment of Rs. 1,000 crore will enable the company supply Indian car makers with BS VI solutions.

For Q3 FY2018, the company reported a revenue of Rs. 1,191.5 crore, which is an increase of 18.7 per cent as against the same period in 2017 and an pre-tax profit of Rs. 178.2 crore, up by 20.9 per cent more than the corresponding period a year-ago.

On Tuesday's morning session, the stock of Schaeffler India was quoting Rs. 4,922.00 per share, up by 0.98 per cent. The benchmark index Nifty50 was at 10,279.15, up by 0.28 per cent.