SKP Bearing Industries: Strong Standalone Q1, France Turnaround Still Key

Standalone revenue from operations was INR 157.4 million (15.3% YoY), EBITDA was INR 53.7 million (22.3% YoY), and PAT was INR 28.6 million (12.1% YoY).

Consolidated revenue from operations was INR 221.1 million (flat YoY). Consolidated EBITDA was INR 24.6 million with 11.14% margin, and PAT was INR 0.4 million with 0.18% margin.

Exports contributed 5% of revenue in Q1 FY27 (4% in FY26). The presentation states an export contribution target of around 10% by FY28.

The ball plant installed capacity is shown at 2,000 TPA with 17% utilisation. Management said 4 to 5 customers are in sampling, and utilisation is expected to improve in Q2 versus Q1.

Management said post-acquisition France revenue dropped to about 5% to 10% of pre-acquisition levels and has recovered to about 40% to 50%. They indicated break-even may be possible by the end of FY27, though not in the next one or two quarters.

Management stated that at around 50% utilisation, ball business annual revenue could be around INR 30 crore, depending on product mix.