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The eBearing News
August 18, 2003
FAG India Reports Strong
Second Quarter 2003 Results
copyright © 2003 eBearing Inc.
FAG Bearings India Ltd. (India, a subsidiary of INA Schaeffler KG, Germany, and FAG, Germany),
reported strong sales and earnings for second quarter 2003, despite a worldwide
economic slowdown.
Sales hit Rs 644.1 million (USD $14.0 million), up almost 14% from Rs 567.3 million ($12.4 million) in
second quarter 2002.
Net profit was also up sharply, to Rs 55.9 million ($1.2 million), up 42% from
Rs 39.2 million ($854,000) in 2002.
Helping to explain the jump, in second quarter 2002 FAG India had not yet fully
integrated tapered roller bearings and ball bearings in its Indian product lineup. Today, FAG
Roller Bearings Pvt. Ltd. in Pune is fully quality approved and an integral part of the
FAG India product line. Its cylindrical, spherical and tapered roller bearing capacity is
now 2 million sets per year, and FAG recently added 84 new part numbers in that line.
Sales were also helped along by 9% year-on-year increase in bearing demand across India's largest
bearing markets -- motorcycles, passenger cars and commercial vehicles. General industrial demand
has also been stronger.
For its part, FAG India has been successful in gaining market share in the aftermarket and heavy
industrial equipment markets. Profits were helped by the company's ongoing cost-reduction programs,
which continue leverage the results from improved sales.
Late in 2002, Indian securities authorities ruled INA must acquire FAG Bearings India
as part of its acquisition of FAG Germany.
• article: Indian authorities rule INA must acquire FAG India
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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