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SKF India share price today (on 3 June 2023).
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BSE: 500472 | NSE: SKFINDIA | ISIN: INE640A01023 Market Cap: [Rs.Cr.] 3,506 | Face Value: [Rs.] 10 Industry: BearingsSKF India is a part of the SKF Group, the leading global supplier of rolling bearing and seals. Along with a varied range of products it also offers extensive solutions and services in this area. The Company's business units include Automotive, Electrical & Two-wheeler, Service, Industrial and Textile Machinery Component. SKF India was incorporated on 12th April 1961 and now providing superior quality bearings, seals, solutions and other related products for a wide range of industry application. Corporate headquartered in Mumbai and have plants in various places across the country. The exact locations are Bangalore, Chennai, Gurgaon, Haridwar, Kolkatta and Pune. As well as, SKF India has a strong distribution network with over 200 distributors across the country.
To cater to the manufacturing demands, the production activity in the first factory at Chinchwad, Pune was started by the company in the year of 1965. After that, SKF India had launched its state -of- the art factory for SDGBB in Bangalore during the year 1989. In 1997, CR Seals India Pvt. Ltd. established a plant in Bangalore, which went on to become SKF Sealing Solutions India Pvt Ltd, now a part of SKF in India. During the year 2002, the company had established the SKF Center for Learning and also in the same year, SKF became the first bearing company in India to secure ISO/TS-16949 for the Automotive Business Unit. The Company inaugurated a center in 2004 for the development process under the name of SKF Application Development Center. Also in the identical year of 2004, SKF India had acquired Vibration Engineer and Consultants Pvt Ltd.
The Company decided to implement 'Direct Customer Delivery' model in place of its Indenting Commission Business for the imported SKF bearing with effect from September 2005 to reduce the delivery time. During the year 2006, the company had received the Dun & Bradstreet American Express Corporate Award and also rated as top Indian company in the Bearings Sector. In February 2007, the company had introduced its power transmission products in the Indian market. The products include timing belts, v-belts, chains, couplings, sprockets and pulleys. SKF India, the proud recipient of the CNBC Asia's Talent Management Award at the India Business Leader of the year Awards 2007.
SKF India entered into a long-term relationship with wind power firm Suzlon Energy in November 2008 for supplying bearings for Indian wind turbine maker Suzlon Energy, the deal covers the worth of Euro 303 million. SKF India won the Green Manufacturer of the Year Award at the Auto Monitor Awards 2008. The Company's actions are marching towards developing innovative, integrated value added solutions that improve the competitiveness and profitability of customers. This further reinforces its vision to equip the world with SKF knowledge.
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