SKP Bearing Industries Limited (SKP)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, SKP Bearing's revenue was ₹22.1 Cr (-0.0% year on year, -41.8% on the previous quarter), and net profit ₹0.0 Cr (-89.5% year on year); the operating margin was 11.1%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹22.1 | -0.0% | -41.8% |
| Operating profit | ₹2.5 | -5.7% | +85.2% |
| Net profit | ₹0.0 | -89.5% | from loss |
| EPS (₹) | 0.02 | -91.3% | from loss |
| Operating margin | 11.1% | — | — |
SKP delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 21.05% of the SKP shares traded on NSE were taken to delivery, against the stock's own 20-session average of 40.28%. That is close to its usual level. Turnover was only ₹48 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 48.2% · 11.1% · 58.4% · 100.0% · 21.1%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
SKP Bearing Industries Limited submitted an intimation confirming the non-applicability of the Corporate Governance Report under Regulation 27(2) of SEBI LODR Regulations for the quarter and half year ended September 30, 2026. The exemption is claimed pursuant to Regulation 15(2), as the company is listed on NSE's EMERGE SME Platform. This is a regular administrative compliance update with no financial or operational impact.
- Corporate Governance Report under Regulation 27(2) declared non-applicable for the quarter ended September 30, 2026
- Exemption claimed under Regulation 15(2) due to listing on the NSE EMERGE SME platform
- Filing made within the compliance window on October 13, 2026
SKP Bearing Industries has issued a Postal Ballot notice seeking shareholder approval via Special Resolution to migrate its equity shares from the NSE Emerge (SME) platform to the NSE Main Board. Remote e-voting runs from September 24, 2026 to October 23, 2026, with the cut-off date set as September 18, 2026. Per SEBI ICDR regulations, the resolution requires votes cast by public shareholders in favor to be at least twice the votes cast against. The company's paid-up equity share capital stands at ₹16.60 crore across 1.66 crore shares of ₹10 face value.
- Proposed migration of 1.66 crore shares (₹16.60 crore paid-up capital) from NSE Emerge to NSE Main Board
- Requires public shareholder approval where votes in favor must be at least 2x the votes against
- E-voting starts at 9:00 a.m. on September 24, 2026, and concludes at 5:00 p.m. on October 23, 2026
- Cut-off date for eligibility to vote established as September 18, 2026
SKP Bearing Industries Limited submitted its voting results and Scrutiniser's report for its 5th Annual General Meeting held on September 17, 2026. The remote e-voting and physical ballot voting were conducted per Regulation 44(3) of SEBI LODR Regulations. All resolutions presented in the AGM notice were approved by shareholders with the requisite majority. The filing represents a standard procedural regulatory compliance with no unexpected governance hurdles.
- 5th Annual General Meeting held on September 17, 2026, at 3:00 p.m. IST
- Voting carried out via remote e-voting and physical ballot through Bigshare Services Private Limited
- Consolidated Scrutiniser's Report issued by M/s M K Chokshi & Associates on September 19, 2026
- All resolutions detailed in the AGM Notice passed with requisite majority
SKP Bearing Industries Limited announced the appointment of M/s Jain P.C. and Associates, Chartered Accountants, as its new Statutory Auditors for a 5-year term from the 5th AGM to the 10th AGM. The change is due to the mandatory rotation under Section 139(2) of the Companies Act, 2013, following the completion of the 5-year tenure of M/s Dipak P. Shah & Co. on September 17, 2026. The outgoing auditor flagged no material concerns or reservations. The transition is purely regulatory and routine with no operational impact.
- Retiring auditor M/s Dipak P. Shah & Co. completed a 5-consecutive-year tenure on September 17, 2026
- Incoming auditor M/s Jain P.C. and Associates appointed for a 5-year term from 5th AGM to 10th AGM
- Outgoing auditor confirmed no material events, concerns, or unresolved issues upon cessation
- Shareholder approval granted at the 5th Annual General Meeting held on September 17, 2026
SKP Bearing Industries held its 5th Annual General Meeting on September 17, 2026, transacting six key resolutions. The company approved the appointment of M/s Jain P.C. and Associates as Statutory Auditors for a 5-year term replacing M/s Dipak P. Shah & Co. Other approvals included the re-appointment and remuneration revisions of promoter directors, as well as material related-party transactions with promoter directors and its French subsidiary. Official voting results will be released within 2 working days.
- 5th Annual General Meeting held on September 17, 2026, at Wadhwan City, Gujarat
- Appointed M/s Jain P.C. and Associates as Statutory Auditors for a 5-year term until the 10th AGM
- Shareholders considered approval for material related party transactions with French subsidiary and promoter directors
- Re-appointment of Director Mrs. Sangita Shrinand Palshikar, who holds 6,229,000 equity shares
SKP Bearing Industries has submitted a revised Annual Report for FY 2025-26 following its initial submission on 26th August 2026. The company confirmed that the revision contains only design and formatting modifications, with no changes to financial numbers or statutory disclosures. The included AGM notice schedules ordinary and special business items, including the adoption of FY26 financial statements and approval of material related-party transactions.
- Revised FY 2025-26 Annual Report submitted on 28th August 2026 following the 26th August 2026 filing.
- Company confirmed revisions are limited to formatting/design with zero changes to reported numbers.
- Notice sets the agenda for the 5th Annual General Meeting for the year ended 31st March, 2026.
- AGM agenda includes appointment of Statutory Auditors (M/s Jain P.C. and Associates) and approval of material related-party transactions.
SKP Bearing Industries Limited has dispatched letters containing the web-link for its FY 2025-26 Annual Report to shareholders without registered email addresses, in compliance with SEBI LODR Regulation 36(1)(b). The company's 5th Annual General Meeting is scheduled for Thursday, September 17, 2026, in Surendranagar, Gujarat. The cut-off date to determine voting rights is September 10, 2026, with remote e-voting running from September 14 to September 16, 2026.
- 5th Annual General Meeting scheduled for Thursday, September 17, 2026 at 03:00 PM IST in Surendranagar, Gujarat
- Cut-off date for reckoning shareholder voting rights set for Thursday, September 10, 2026
- Remote e-voting window opens September 14, 2026 (09:00 AM) and closes September 16, 2026 (05:00 PM)
- Dispatched Annual Report FY 2025-26 web-link to shareholders with unregistered emails pursuant to Regulation 36(1)(b)
SKP Bearing Industries has issued notice for its 5th Annual General Meeting scheduled for September 17, 2026. Key agenda items include the appointment of M/s Jain P.C. and Associates as Statutory Auditors for a 5-year term replacing retiring auditor M/s Dipak P. Shah & Co. The company is also seeking shareholder approval for material related party transactions and revised remuneration for CMD Mr. Shrinand Palshikar (proposed at ₹60.00 lakh p.a.) and Non-Executive Director Mrs. Sangita Palshikar (proposed at ₹30.00 lakh p.a.).
- 5th AGM scheduled for September 17, 2026 at Surendranagar, Gujarat
- Appointment of M/s Jain P.C. and Associates as Statutory Auditors for a 5-year term
- Proposed remuneration of ₹60.00 lakh p.a. for CMD Mr. Shrinand Palshikar (effective April 1, 2026)
- Proposed remuneration of ₹30.00 lakh p.a. for Director Mrs. Sangita Palshikar (up from ₹26.88 lakh p.a.)
- Approval sought for material Related Party Transactions under Regulation 23
SKP Bearing Industries Limited has scheduled an in-person interaction with investors and analysts on August 31, 2026, in Mumbai. The interaction will take place between 10:00 am and 05:00 pm as part of the Kaptify Investor Conference organized by its IR firm, Kaptify Consulting. The sessions will include both group meetings and one-on-one formats. The company confirmed that discussions will rely strictly on publicly available information without sharing any unpublished price sensitive information.
- Investor conference scheduled for 31st August, 2026 in Mumbai
- Interaction window between 10:00 am to 05:00 pm in person
- Meeting format includes both Group Meeting and One on One sessions
- Coordinated via Investor Relations firm Kaptify Consulting with no UPSI discussed
SKP Bearing Industries announced the outcome of its board meeting held on August 25, 2026. The board approved convening the 5th AGM on September 17, 2026, and recommended the appointment of M/s Jain P.C. and Associates as Statutory Auditors for a 5-year tenure to replace the retiring auditor. In addition, the board approved remuneration revisions for the CMD and Director, proposed material related-party transactions for member approval, and reconstituted its Audit Committee.
- 5th Annual General Meeting fixed for September 17, 2026, with cut-off date for e-voting on September 10, 2026
- M/s Jain P.C. and Associates recommended as Statutory Auditors for a 5-year term (from 5th AGM to 10th AGM)
- Proposed remuneration revisions for CMD Shrinand Kamlakar Palshikar and Director Sangita Shrinand Palshikar subject to shareholder vote
- Approval and recommendation of material related-party transactions under Regulation 23 of SEBI Listing Regulations
- Remote e-voting window set from September 14, 2026 (9:00 AM) to September 16, 2026 (5:00 PM)
SKP Bearing Industries has submitted the transcript of its Q1 FY27 post-earnings conference call held on August 18, 2026. Management reported an installed ball manufacturing capacity of 2,000 tons/annum with 17% utilization, and roller capacity of ~1,800 tons/annum operating at ~80% utilization. Exports contributed 5% to revenue in Q1 FY27 with a target of 5% to 10% for FY27. Management expects its acquired French business to reach breakeven by Q4 FY27 driven by share-of-business increases and new customer onboarding.
- Installed ball capacity stands at 2,000 tons per annum with 17% utilization achieved in Q1 FY27.
- Roller capacity is currently around 1,800 tons operating at approximately 80% capacity utilization.
- Exports contributed 5% to Q1 FY27 revenue, with management targeting 5% to 10% for the full year and higher long-term.
- French subsidiary turnaround is targeted to reach operational breakeven by Q4 FY27.
SKP Bearing Industries Limited has submitted the web link for the audio-video recording of its Q1 FY2026-27 post-earnings conference call held on August 18, 2026. The call was conducted between 04:00 PM and 04:55 PM IST pursuant to SEBI LODR Regulations. This is a procedural compliance filing providing access to the discussion regarding the company's operational and financial performance.
- Audio-video recording made available for the investor conference call held on August 18, 2026
- Call duration was 55 minutes, from 04:00 PM to 04:55 PM IST
- Filing made under Regulation 30 and Regulation 46 of SEBI LODR Regulations on August 20, 2026
SKP Bearing Industries released its Q1 FY27 investor presentation highlighting divergent performance between standalone and consolidated operations. Standalone revenue grew 15.3% YoY to ₹15.74 Cr with a strong EBITDA margin of 34.14% and PAT of ₹2.86 Cr (+12.1% YoY). However, consolidated PAT remained subdued at ₹0.04 Cr (down 89.4% YoY) due to the ongoing turnaround and integration costs of its French subsidiary (VGI). The company reported a 78% capacity utilization for rollers and 17% for balls, while outlining a potential ₹100 Cr customer pipeline by FY30 in France and entry into defence components.
- Standalone Q1 FY27 revenue rose 15.3% YoY to ₹15.74 Cr with PAT increasing 12.1% YoY to ₹2.86 Cr.
- Consolidated Q1 FY27 revenue was flat at ₹22.11 Cr while PAT dropped 89.4% YoY to ₹0.04 Cr due to overseas subsidiary drag.
- Roller capacity utilization reached 78% (1,872 TPA installed capacity), while ball capacity utilization stood at 17% (2,000 TPA capacity).
- Secured a key customer relationship in France with projected revenue potential of ~₹100 Cr by FY30.
- Targeting export revenue contribution to rise from ~4% in FY26 to ~10% by FY28.
SKP Bearing Industries has approved and submitted its standalone unaudited financial results for the quarter ended June 30, 2026. Independent auditor Dipak P Shah & Co issued an unmodified limited review report with no material misstatements noted. While the detailed numerical P&L breakdown was omitted in the document extract, the company operates with a TTM revenue base of ₹103 Cr and net worth of ₹78 Cr.
- Independent auditor Dipak P Shah & Co issued a clean, unmodified limited review report for the quarter ended June 30, 2026.
- Board meeting outcome and review report signed and approved on August 14, 2026.
- Detailed line-item revenue and profit numbers were not detailed in the attached auditor report extract.
SKP Bearing Industries has scheduled its Q1 FY27 earnings conference call for August 18, 2026, to discuss results for the quarter ended June 30, 2026. The company reported a TTM revenue of Rs 103 Cr but a very thin TTM net profit of only Rs 1 Cr, leading to a high P/E ratio of 289.5. Investors will be looking for updates on the turnaround of the French subsidiary and the utilization levels of Plant 3, which are critical for margin recovery. Recent quarterly performance has been volatile, with a net loss of Rs 0.95 Cr reported in March 2026.
- Conference call scheduled for August 18, 2026, at 04:00 PM IST via Zoom
- Company reported FY26 annual revenue of Rs 102.72 Cr with a thin net profit of Rs 0.93 Cr
- Operating Profit Margin (OPM) currently stands at 9.6% on a TTM basis
- The company recorded a net loss of Rs 0.95 Cr in the most recent quarter ended March 2026
- Promoter holding remains high and stable at 74.9% as of March 2026
Financial Performance
Revenue Growth by Segment
Total Operating Income (TOI) grew 11.58% YoY to INR 19.95 Cr in FY16. H1 FY26 revenue reached approximately INR 40 Cr, with the company aspiring for a full-year top line of INR 100 Cr. Segment-wise reporting includes Mulchand and Zammar plants, with the ball plant recently commencing operations.
Geographic Revenue Split
Domestic and export sales are tracked; integration of the French subsidiary is ongoing. The French entity previously achieved 16 million (historical peak), which remains a long-term revenue target for that region.
Profitability Margins
Gross margins moderated from 78% in H1 FY25 to 66% in H1 FY26. PAT margin improved significantly by 1105 bps to 19.00% in FY16 from 7.95% in FY15 due to higher PBILDT and lower depreciation.
EBITDA Margin
Consolidated EBITDA margin stood at 25.4% in Q2 FY26. Standalone business margins are reported as sustainable at 40%. FY16 PBILDT margin was 34.42%, up 698 bps YoY.
Capital Expenditure
Plant 3 has commenced operations and utilization has started. Debottlenecking operations have been completed to increase overall capacity. Historical bank facilities were rated for INR 9.81 Cr.
Credit Rating & Borrowing
CARE BBB-; Stable / CARE A3 (reaffirmed in March 2017). Interest coverage ratio was 8.90 times in FY16, up from 7.62 times in FY15, indicating strong debt servicing ability.
Operational Drivers
Raw Materials
Bearing steel, rolled steel (hot rolled and cold rolled), high-grade steel, and alloy steel.
Import Sources
Not specifically disclosed, but the company is susceptible to global steel price movements, implying international market sensitivity.
Capacity Expansion
Plant 3 is now operational and ramping up utilization. Debottlenecking has increased existing capacities to meet growing demand from domestic and export customers.
Raw Material Costs
Raw material costs decreased as a percentage of TOI in FY16, contributing to a 698 bps increase in PBILDT margin. However, H1 FY26 gross margins moderated to 66% due to cost fluctuations.
Manufacturing Efficiency
Operational excellence is driven by in-house processing and product development. EBITDA improvements in H1 FY26 were attributed to operational efficiency gains.
Strategic Growth
Expected Growth Rate
19.66%
Growth Strategy
Achieving the INR 100 Cr revenue target through the turnaround of the French subsidiary, ramping up Plant 3 utilization, adding new customers to the portfolio, and leveraging the PM-KUSUM scheme which is now generating substantial revenue.
Products & Services
Rolling elements including needle rollers, cylindrical rollers, steel balls, and special chemistry balls.
Brand Portfolio
SKP Bearing Industries Limited (SKP).
New Products/Services
Special chemistry balls and customized technical rolling elements developed per client requirements. PM-KUSUM scheme projects are a new revenue stream.
Market Expansion
Ongoing integration and turnaround of the French business to capture European market share. Export volumes are expected to increase over time.
External Factors
Industry Trends
The bearing industry is highly competitive but growing. There is a shift toward specialized rolling elements and government-backed schemes like PM-KUSUM driving demand in India.
Competitive Landscape
Operates in a highly competitive industry, but maintains high margins through technical specialization and customized solutions.
Competitive Moat
Moat is built on technical expertise, customized product engineering, and a 'develop and offer' model that provides higher margins than competitors who import solutions.
Macro Economic Sensitivity
Highly sensitive to global steel price movements and global economic challenges affecting export demand.
Consumer Behavior
Increasing demand for high-precision rolling elements and faith in SKP's delivery capabilities over the last 1.5 years.
Geopolitical Risks
Global challenges over the past six months have impacted international operations and integration efforts.
Regulatory & Governance
Industry Regulations
Operations are influenced by the PM-KUSUM scheme, which has started generating substantial revenue for the company.
Risk Analysis
Key Uncertainties
Volatility in raw material prices (steel) and the successful turnaround of the international (French) subsidiary.
Geographic Concentration Risk
Diversifying from domestic to international (France), but currently faces global challenges in the export segment.
Third Party Dependencies
Dependency on steel suppliers for high-grade and alloy steel.
Technology Obsolescence Risk
Low risk due to continuous in-house product engineering and development of specialized chemistry balls.
Credit & Counterparty Risk
Collection period increase led to a working capital cycle of 96 days in FY16, indicating some pressure on receivables management.
