Posted On : 28 Feb, 2019
New Delhi, February 28, 2019 : Schaeffler India, a fully owned Indian subsidiary of the $16.5 billion (14.5 billion euros) German industrial and auto parts maker Schaeffler Group, is aiming to double its turnover to about Rs 10,000 crore in the next five years.
The company expects the new technology, specially the implementation of new emission and safety norms, will contribute heavily to the growth. Schaeffler that attained Rs 4,500 crore revenue in the last fiscal year in India is aiming to lift contribution from the commercial vehicle segment to 10 per cent to the total revenue from India.
Dharmesh Arora, President & CEO, Schaeffler India said, “We had a very small base in commercial vehicles but with introduction of new technology and increasing content per vehicles we expect this segment to grow fastest in the coming few years.”
Company listed at Indian stock market, hopes to hike its revenue share from CV in the next two-three years. “We feel the growth will come in all segments thus the pie size will increase, however we expect the growth to be fastest in CV,” he said. Passenger Vehicle, two-wheeler, and tractor segment contribute 24%, 12% and 10% respectively to the overall revenue of the company.
Headquartered in Pune, Schaeffler, is on way to develop a dominating position in CV with launch of new shield, unitized bearings and rocker arms apart from increasing sales of diaphragm clutches. Diaphragm clutches demand is rapidly increasing and it currently contributes 40 per cent of the market which is expected to increase to 100 per cent in the next few years. The diaphragm technology provides superior torque transmission throughout the lifetime of the clutch assembly because of its spring characteristics.
According to company, bearing business will also grow with introduction of new technology -shield unitized bearings – which sits on each axles both sides and these bearings don’t require to be attended or greased in lifetime which gives a great advantage of cutting the down time of the commercial vehicles.
“Cost will be significantly higher than the current one, almost 3 to 4 times, but in terms of lifecycle, it will give a lot of economic advantage to the fleet owners,” he added. The company is also launching engine rocker arm for commercial vehicle. It already supplies this to PV and two-wheeler. For CV engine rocker arm will be produced from Pune plant. The company also deals in aerospace and railways apart from automotive.