SKF India Ltd

- **Industrial Business Growth**: Expected CAGR of 8% to 10% over the next 3 years, slightly muted due to localization efforts, with new capacities in Ahmedabad and Pune coming online around late FY 2027–28. - **Automotive Business Growth**: Projected to grow around 10% to 12% CAGR with plans to expand capacity and gain market share across 2-wheelers, 3-wheelers, and passenger vehicles. - **Segment Focus**: Continued emphasis on infrastructure-driven industries—cement, steel, mining; renewables including selective wind applications; railways with expansion into freight through localized engineering; general machinery like pumps and drives. - **Service Business**: Currently contributing around 6% of Industrial revenues, targeted to grow to about 20% going forward, driven by condition monitoring, remanufacturing, and asset reliability contracts. - **Distribution Expansion & Commercial Excellence**: Enhanced last-mile availability and value selling to boost aftermarket sales and overall revenue growth.

- Industrial business revenue CAGR expected at 8% to 10% over the next 3 years, driven by infrastructure sectors like cement, steel, mining, renewables (wind), rail (passenger and freight), and general machinery (pumps, drives, gearboxes). - Automotive business expected to grow faster, with revenue growth forecasted around 10% to 12%, supported by capacity expansion planned in FY 27-28 and new market share gains. - Margins are currently muted due to ongoing demerger-related costs impacting by 1.5% to 2%, and additional costs in the first half of next fiscal year (stamp duty, registration). - Margins target of 16% to 19% expected from FY 28 onwards as demerger costs taper off and new Pune plant depreciation is absorbed. - Continued focus on fit-for-India engineered products and expansion of service business aimed to increase revenue contribution from services (currently ~6% industrial). - Investments target returns with payback within 5 years.

- The transcript does not provide explicit details on the current or expected orderbook or pending orders for SKF India Limited. - However, it mentions that the Industrial segment growth is driven by project orders in infrastructure-related industries like cement, steel, mining, renewables (especially wind), and railways. - The company continues to focus on penetrating new markets such as the freight market in rail through localized engineering. - The Industrial business is characterized by lumpy project orders, meaning order inflows can vary quarter to quarter. - Automotive growth is anticipated to ramp up with capacity expansion expected in 2027-28, indicating an order pipeline supporting this growth. - Overall, emphasis is on infrastructure-driven industries and renewables for Industrial orders, while Automotive expects new market share gains soon.

- The transcript on page 14 and preceding pages does not mention any current or planned fundraising activities through debt or equity by SKF India Limited. - There is discussion about investments and capex, especially related to the Ahmedabad plant and Pune plant expansions, but these relate to operational investments rather than fundraising. - The focus appears to be on demerger-related costs, capacity expansion, and localization efforts. - No explicit plans for raising fresh equity or taking on new debt are indicated in the provided transcript. - The company mentioned cautious margin expectations due to ongoing demerger costs and capex but did not signal any fundraising moves to support these financially.

- The Ahmedabad plant is already commissioned and operating under the unlisted entity of SKF. - Additional investments in Ahmedabad are planned and expected to materialize over 2.5 to 3 years, with production starting by end of 2027. - Investments in Ahmedabad aim to localize products, improve availability, lower costs, and help SKF India gain market share domestically and internationally. - SKF India continues to invest in the Pune plant for capacity enhancement and localization, aiming to expand capacity in the '27-'28 timeframe. - The capacity expansion in Pune is expected to remove bottlenecks and enable SKF to grow faster than competitors. - Overall, investments in manufacturing footprints, including Ahmedabad and Pune, are strategic to improve competitiveness and support double-digit growth, primarily in the Industrial segment. - Demerger-related investments include significant IT costs for deploying SAP and creating separate data infrastructure, with related expenses expected until H1 FY 2026-27.