We pioneer motion

Integrated Annual Report 2023 | Schaeffler India Limited

Future In Motion
At Schaeffler India, our mission is
to engineer the future of mobility.

We are preparing for the future mobility transformation in the country as well as leveraging the Group’s solutions on emerging technologies ensuring a sustainable future for all. Our acquisition of Koovers1 unlocks the potential of B2B
e-commerce for vehicle lifetime solutions in India.

Our every action reflects our commitment to agility, sustainability, and deep customer connections. We are globally connected, locally invested, and passionately engaged with our people and society.

1KRSV Innovative Auto Solutions Private Limited

Highlights 2023
Environmental stewardship


Reduction in GHG emissions


Wasted recycle

Supporting suppliers


Sustainable sourcing


Training hours

Helping communities


CSR beneficiaries

₹160.2 mn

CSR spend

Empowering people


Diversity rate


Accident rate

Customer centricity

4 CDCs

Closer to customers


Loyalty Index



Women representation on the Board


Independent Directors

₹72,261 mn



₹9,090 mn



₹4,620 mn



₹26 per share



1 As of December 31, 2023
2 Free cash flow before cash in and outflows for M&A activities

Message by the Chairperson
Empowering future, thriving together

Schaeffler India is well placed to capture these opportunities as we introduce and adopt innovative technologies at an even quicker pace, be it our advances in electric mobility, strengthening digitalisation initiatives or offerings of Industry 4.0 solutions.

Eranti Sumithasri

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Message from the MD and CEO
Our journey in 2023 -
a year of firsts

Even when the world was slowing down, India’s progress kept moving forward. And we played our role as catalysts to support the same, propelling industries forward with innovative and sustainable solutions. Beyond numbers, our story is one of agility.

Harsha Kadam
Managing Director & CEO

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Company Acquisition
First Ever Acquisition In E-Commerce Space

We drive into the future of mobility with our first-ever acquisition of Koovers. The acquisition strengthens our aftermarket ecosystem including distribution partners and helps us play an important role in the fast growing and evolving digital aftermarket landscape.

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1.8 mn


Corporate Overview
The motion technology company

In the realm of motion, Schaeffler stands as the pioneer of innovation and excellence. Through our diverse range of products and services, we meticulously guide, transmit, generate, drive, energise, and sustain motion across all six of our product families.

We pioneer motion

At Schaeffler, we believe motion is the essence of life. It has been the core element in reimagining mobility while shaping the future with efficient and sustainable solutions.

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Partnering for progress

We provide innovative and sustainable products and services for CO2-efficient drives, future mobility, Industry 4.0, digitalisation and renewable energies through three main businesses – Automotive Technologies, Automotive Aftermarket, and Industrial, enabling our customers to be future-ready.

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Smart motion technology solutions

• Automotive Technologies

• Automotive Aftermarket

• Industrial

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Sustained growth opportunities

We are distinguished by our strong parentage, enduring client partnerships, diverse product portfolio, innovative capabilities and a robust financial foundation.

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Creating value
E-Mobility Breakthrough

During the year, we achieved a breakthrough nomination in the area of future mobility with one of India’s leading OEMs. With our new project nomination, we expanded our portfolio by offering e-axle solutions to our customers.

Collaborating for success

Through effective stakeholder engagement, we build relationships and trust, leading us to our goals and shaping the way we think, act, and create value.

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Business-critical topics

Our interaction with stakeholders helps us identify, assess, and understand the issues material to our business.

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Value creation paradigm

• Financial capital
• Manufacturing capital
• Intellectual capital

• Human capital
• Social and Relationship capital
• Natural capital

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Leveraging local strengths

In order to create, develop, and shape the future of motion technology not only in India but throughout the world, we draw on our parent company’s extensive experience and knowledge in addition to our deep understanding of opportunities present in the Indian markets. We are truly focusing on ‘Make in India’ for the world.

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Year in review
Koovers: First-ever Acquisition In E-commerce Space

In August 2023, we announced our first-ever acquisition of Koovers, a B2B e-commerce platform offering spare parts solutions to Indian aftermarket workshops.

Empowering future, thriving together

Eranti Sumithasri Chairperson

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Our journey in 2023 — a year of firsts

Harsha Kadam Managing Director & CEO

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Grateful past

Satish Patel Director - Finances & CFO
(till 12th February 2024)

Exciting future Our

Hardevi Vazirani Director - Finance & CFO

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Measure of progress

We have been consistently delivering sustainable financial performance, creating value for all our stakeholders.

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Precision meets innovation

We partner and engage with our customers to understand their evolving landscape and help them by offering leaner and cleaner solutions.

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Meeting customer needs

With an overarching understanding of systems and comprehensive services, we support garages in complex repairs and at the same time contribute to extending the operating life of vehicles.

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Integrated solutions

We remain committed to delivering reliable and sustainable end-to-end solutions and offerings for our customers.

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