SKF India Limited — Board Meeting, 26-12-2024: Outcome of Board Meeting

The Board of Directors of SKF India Limited has approved a Scheme of Arrangement to demerge its Industrial Business into SKF India (Industrial) Limited. This decision emphasizes the separation of the Automotive and Industrial segments, allowing both entities to pursue independent growth strategies and operational efficiencies. The demerger is based on the last financial year's Industrial Business turnover of approximately ₹289.79 Cr, which constituted 63% of SKF India's total revenue. The move aims to enhance shareholder value and provide clearer visibility into each business's performance and opportunities.