Schaeffler India Q2 2026: Growth holds up as cash conversion softens

Standalone revenue was INR 2,681.4 crore, EBITDA was INR 513.2 crore (19.1% margin), and PAT was INR 336.7 crore (12.6% margin).

Standalone revenue grew 17.5% year on year and 7.0% quarter on quarter as per the investor presentation.

The presentation shows Q2 CY26 sales mix as 35% Automotive Technologies, 35% Bearings and Industrial Solutions, 12% Vehicle Lifetime Solutions, and 17% Intercompany Exports and others.

Management attributed lower free cash flow mainly to higher working capital, driven by increased inventories, and some reduction in earnings.

The CFO said export growth was mainly due to intercompany allocations as the group leverages India capacity, with some FX benefit in US dollar billed regions; management remained cautious on future guidance due to disruptions.

In Q2 CY26, Koovers reported revenue of INR 79.1 crore with negative EBITDA margin (-17.3%). Management said the focus is on scaling up and expects EBITDA and cash flow breakeven in 2029.