Maruti Suzuki’s plan to phase out its diesel car portfolio from April 2020 is not a positive development for us, Schaeffler India CEO Dharmesh Arora confirmed in an analyst conference call on 6 May. He was speaking about the impact India’s largest carmaker’s decision would leave on Schaeffler India’s annual business next year. “Declining production of diesel cars is not good news for us as there is a lot more content that goes in a diesel engine as compared to the petrol engine. Schaeffler India’s revenues will be impacted as per its share in Maruti’s order book, which remains undisclosed at the moment. Schaeffler India posted total turnover of ₹4,562 crore in CY18 and ₹1,172 crore in Q1 CY19 (up 8.2% year-on-year).

Source: Mint May 07, 2019 02:48 UTC