SKF India Limited Buyback 2018
SKF India Limited has been a leading global technology provider since 1907. The Company fundamental strength is the ability to continuously develop new technologies – then use them to create products that offer competitive advantages to their customers. They achieve this by combining hands-on experience in over 40 industries with Their knowledge across the SKF technology platforms: bearings and units, seals, mechatronics, services, and lubrication systems. The Company success is based on this knowledge, their people, and their commitment to SKF Care principles.
SKF business is organized into four groups:
(i) Automotive business unit
(ii) Electrical business unit
(iii) Industrial business unit and
(iv) Service business unit.
SKF India has dedicated an Application Development Center at Bangalore responsible for customizing products & services.
SKF India (SKF) reported healthy Q1FY19 results. While Revenues grew 13.3% YoY at INR 755 crore, EBITDA grew 24% YoY to INR 116 crore. In Q1FY19, Auto contributed 43%, exports 7% & industrial 50% to its Revenues.
Net Sales for the Q2FY19 amounted to INR 7660 million as compared to INR 6798 million for the second quarter of the previous year, registering a growth of 12.7%. Profit After Tax amounted to INR 843 million as compared to INR 740 million for the same quarter in the previous year, registering a growth of 14%.
Buy Back Offer Deal:
|Buyback Type:||Tender Offer|
|Buyback Record Date:||Dec 21 2018|
|Buyback Opening Date:||Jan 23 2019|
|Buyback Closing Date:||Feb 05 2019|
|Buyback Offer Amount:||₹ 399 Cr|
|Date of Board Meeting approving the proposal:||Oct 24 2018|
|Date of Public Announcement:||Oct 24 2018|
|Buyback Offer Size:||3.70%|
|Buyback Number of Shares:||1,900,000|
|Buyback Price:||₹ 2,100 Per Equity Share|
Details of Buyback:
Salient financial parameters:
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
|(i) Amount Invested in Buyback||161,500||161,500||1,61,500||161,500|
|(ii) No. of Shares buyback||31||47||71||95|
|(iii) BuyBack Profit||12,400||18,800||28,400||38,000|