Reviewing 2024

• The Bearings & Industrial business contributes to ~44% of the revenues for Schaeffler India. Since the beginning of 2024, the division has also been responsible for the comprehensive portfolio of automotive bearing applications and products which was previously assigned to the Automotive Technologies division.
• During 2024, the division registered a double-digit growth of 14.4% as compared to the same period last year. The growth was broad based across all sectors and stems from our strategic focus on cultivating new businesses and maintaining a robust trajectory of ongoing business wins.
• In the wind energy segment, our commitment to meet customer expectations by proactively supporting their latest platforms through tailored, localised production sets us apart. We are proud to contribute to the sustainable energy landscape with impactful advancements in wind technology.
• During the year, we also witnessed significant traction in other key sectors that we operate in viz. Power Transmission, Raw Materials, Railways amongst others. This success was driven by the acquisition of new customers and our concentrated initiatives in developing innovative products and strengthening our portfolio with India made products.
• Two-wheelers continues to be a pivotal sector for us, with our unparalleled application engineering competence we have been the chosen partners for all major OEMs in this sector. This has helped us secure new business nominations across different platforms including the new EV segment. Our continued investment in manufacturing aligns to the shorter lead times and exceptional quality that our customers seek.
• Distribution business remains a key focus area for us at Schaeffler India and today is being represented by over 150 distribution partners pan India. We remain invested in growing our market share backed by our distribution partners by enabling them with increased material availability from localisation, investing on their training and competence and creating an ecosystem where they thrive and service our esteemed customers. Our Partner End User initiative (PEUS) focuses on strengthening the relationship between our distribution partners and our customers thereby offering a comprehensive portfolio of products and services, meeting other requirements of just-in-time inventory and logistics.
• Our unwavering commitment to develop innovative and futuristic solutions for our customers remains at the forefront of our strategy. We continuously develop and add new products across various sectors and align with the ‘Make in India’ initiative to help our customers in their journey towards efficient and cost-effective manufacturing.
• During the year, we successfully established and commissioned our comprehensive test facility in Vadodara. This facility enables us to execute critical testing requirements including bearing fatigue life tests, friction, temperature and lubrication performance. One important milestone was the commissioning of the rail bearings test rig in India which allows us to carry out lifetime tests for bearings and simulate various parameters, enabling us to deliver products that meet application requirements. This test facility enables our customers with faster turnaround times.
• Our Global Engineering Simulation hub facilitates advanced simulation of products and applications for domestic requirements and extends services for our global customers as well. This strategic collaboration enhances our global capabilities and accelerates innovation through seamless integration and shared engineering excellence.
• Our regional Technical Office comprises trained and certified technical experts who not only help customers with after-sales support that includes important services around mounting and dismounting needs, root cause failure analysis but also provide expert consultative services to address various needs around equipment efficiency and availability.