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Auto components maker Schaeffler India on Thursday reported a 3.8% rise in first-quarter profit, boosted by demand in its automotive segment.

The Indian unit of Germany's Schaeffler AG said profit rose to 2.28 billion rupees ($27.36 million) for the three months ended March 31 from 2.19 billion rupees a year earlier.

Revenue from operations rose 9.2% to 18.49 billion rupees.

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KEY CONTEXT

Demand from passenger vehicles and two-wheelers had been favourable for auto ancillaries on a year-on-year basis. Schaeffler and SKF India are the leading players in the over $2 billion Indian bearings market.

Analysts expected Schaeffler to register the highest revenue and profit growth among peers. Smaller peers SKF India and NRB Bearings Ltd are yet to report quarterly results.

PEER COMPARISON

Valuation (next Estimates (next 12 months) Analysts' sentiment

12 months)

RIC PE EV/EBITDA Revenue growth% Profit Mean # of Stock to Div

growth% rating* analys price yield

ts target** (%)

Schaeffler India 45.96 30.45 12.67 16.36 Hold 9 1.08 0.79

Ltd

SKF India Ltd 34.92 25.60 11.35 22.49 Buy 9 0.92 0.87

NRB Bearings Ltd 26.24 19.88 9.99 -49.85 Strong 1 0.88 1.43

Buy

Timken India Ltd 46.06 35.36 9.87 24.03 Hold 5 1.03 0.05

* Mean of analysts' ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** Ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JANUARY-MARCH STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 83.3330 Indian rupees