Schaeffler India : Date of payment of dividend

Schaeffler India Limited · Pune · Maharashtra
BSE Limited	National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers,	Exchange Plaza, C - 1, Block G,
Dalal Street,	Bandra-Kurla Complex, Bandra (E),
Mumbai-400001	Mumbai-400051
Company Code: 505790	Company Code: SCHAEFFLER

Sub: Outcome of the Board Meeting

16/02/2022

Dear Sirs,

Pursuant to Regulation 30 read with Schedule III, 33 and 42 of the Securities and

Exchange Board of India (Listing Obligations and Disclosure Requirements) Phone: [phone] Regulations, 2015, this is to inform you that the Board of Directors of the Company

at its meeting held today has inter alia:

1. Approved the Audited Financial Results of the Company for the quarter and year ended December 31, 2021.
2. Noted the sub-division of each equity share of the Company of face value of Rs.10/- into 5 equity shares of face value of Rs. 2/- per share with effect from the record date, February 9, 2022 pursuant to the approval of the shareholders accorded on December 19, 2021 vide postal ballot conducted by the Company.
3. Recommended a dividend for the year ended December 31, 2021 at the rate of Rs. 16/- per equity share of face value Rs. 2/- each. The Dividend for the year ended December 31, 2021 if declared by the Shareholders at the ensuing Annual General Meeting (AGM) shall be paid within 30 days from the date of AGM;
4. Approved the convening of 59th AGM of the Company scheduled to be held on Wednesday, April 27, 2022 at 3:30 p.m. IST through video conferencing or other audio visual means and the closure of the Register of Members and Share Transfer Books of the Company from Thursday, April 21, 2022 to Wednesday, April 27, 2022, both days inclusive, for the purpose of 59th Annual General Meeting and identifying the list of members eligible for the payment of Dividend.

Please find enclosed herewith the following -

• Audited Financial Results for the quarter and year ended December 31, 2021;
• Auditor's Report on the Audited Financial Results for the Quarter and Year ended December 31, 2021;

Schaeffler India Limited

Registered and Corporate Office: 15th Floor, (ASTP) Amar Sadanand Tech Park, Baner, Pune, Maharashtra, India - 411045 Tel: [phone] | Fax: [phone]

CIN: L29130PN1962PLC204515, www.schaeffler.co.in, [e-mail]

• Press Release

Page 2 of 2

Declaration -

We hereby declare that the Statutory Auditors of the Company M/s. Walker Chandiok

• Co LLP, Chartered Accountants (Firm Registration No. 001076N/N500013) have issued the Audit Report with unmodified opinion in respect of Annual Audited Financial Results for the year ended December 31, 2021.

The Board Meeting commenced at 1530 hours IST and concluded at 2040 hours IST.

Kindly take the same on your records.

Thanking you,

Yours faithfully,

For Schaeffler India Limited

ASHISH TIWARI

Digitally signed by ASHISH TIWARI DN: cn=ASHISH TIWARI, c=IN, o=Personal, email=[e-mail] Date: 2022.02.16 20:43:19 +05'30'

Ashish Tiwari,

VP - Legal & Company Secretary

Encl.: As above

PUBLIC

Walker Chandiok &£o LLP

Walker Chandiok & Co LLP

11th Floor, Tower II,

One International Center,

S B Marg, Prabhadevi (W),

Mumbai -400013

Maharashtra, India

T [phone]

F [phone]

Independent Auditor's Report on Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

To the Board of Directors of Schaeffler India Limited

Opinion

1. We have audited the accompanying annual financial results ('the Statement') of Schaeffler India Limited('the Company') for the year ended 31 December 2021, attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) ('Listing Regulations'), including relevant circulars issued by the SEBI from time to time.

2. In our opinion and to the best of our information and according to the explanations given to us, the Statement:

1. presents financial results in accordance with the requirements of Regulation 33 of the Listing Regulations; and
2. gives a true and fair view in conformity with the applicable Indian Accounting Standards ('Ind AS')prescribed under Section 133 of the Companies Act, 201 3 ('the Act'), read with relevant rules issued thereunder, and other accounting principles generally accepted in India, of the net profit after tax and other comprehensive income and other financial information of the Company for the year ended 31 December 2021.

Basis for Opinion

3. We conducted our audit in accordance with the Standards on Auditing ('SAs') specified under section143(10) of the Act. Our responsibilities under those standards are further described in the Auditor's

Responsibilities	for the Audit of the Statement	section of our report. We are independent of the Company
in accordance	with the Code of Ethics issued	by the Institute of Chartered Accountants of India ('the ICAI')

together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence obtained by us, is sufficient and appropriate to provide a basis for our opinion.

Page 1 of 3

Chartered Accountants			Walker	Chandiok & Co LLP is registered
			with limited liability with	identification
Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune		number	AAC-2085 and has its registered
			office at L-41 , Connaught	Circus, Outer
			Circle. New Delhi. 110001. India

Schaeffler India Limited

Independent Auditor's Report on Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

Responsibilities of Management and Those Charged with Governance for the Statement

4. This Statement has been prepared on the basis of the annual audited financial statements and has beenapproved by the Company's Board of Directors. The Company's Board of Directors is responsible for the preparation and presentation of the Statement that gives a true and fair view of the net profit and other comprehensive income and other financial information of the Company in accordance with the accounting principles generally accepted in India, including Ind AS prescribed under Section 133 of the Act, read with

relevant rules issued thereunder and other accounting principles generally accepted in India, and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application

of appropriate	accounting policies; making judgments and estimates that are reasonable and prudent;
and design,	implementation and maintenance of adequate internal	financial controls that were operating
effectively	for	ensuring the	accuracy and completeness of the	accounting records, relevant to the
preparation and presentation	of the Statement that gives a true and fair view and is free from material
misstatement, whether due to fraud or error.

5. In preparing the Statement, the Board of Directors is responsible for assessing the Company's ability tocontinue as a going concern, disclosing, as applicable, matters related to going concern, and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

1. The Board of Directors is also responsible for overseeing the Company's financial reporting process.
   Auditor's Responsibilities for the Audit of the Statement
2. Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free frommaterial misstatement, whether due to fraud or error, and to issue an auditor's report that includes our

opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with Standards on Auditing, specified under section 143(10) of the Act, will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Statement.

8. As part of an audit in accordance with the Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:

•	Identify and assess the risks of material misstatement of the Statement, whether due to fraud or error,
	design and perform audit	procedures	responsive to those risks, and obtain audit evidence that is
	sufficient and appropriate	to provide a basis for our opinion. The	risk	of not detecting a material
	misstatement resulting from fraud is higher than for one resulting	from	error, as fraud may involve
	collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
•	Obtain an understanding	of internal control relevant to the audit in order to design audit procedures
	that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible
	for expressing our opinion	on whether	the Company has in place adequate internal financial controls
	with reference to financial	statements and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management.

Page 2 of 3

Chartered Accountants			Walker	Chandiok	& Co LLP is registered
			with limited liability	with identification
Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune		number	AAC-2085 and has its registered

office at L-41 , Connaught Circus, Outer Circle. New Delhi, 110001. India

Schaeffler India Limited

Independent Auditor's Report on Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended)

• Conclude on the appropriateness of the management's use of the going concern basis of accountingand, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the Statement or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.

1. • Evaluate the overall presentation, structure and content of the Statement, including the disclosures, and whether the Statement represents the underlying transactions and events in a manner that achieves fair presentation.
2. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
3. We also provide those charged with governance with a statement that we have complied with relevantethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
   Other Matters

1. 1. The Statement includes the financial results for the quarter ended 31 December 2021 , being the balancingfigures between the audited figures in respect of the full financial year and the published unaudited year-to-datefigures up to the third quarter of the current financial year, which were subject to limited review by us.

1. The audit of financial results for the corresponding quarter and year ended 31 December 2020 includedin the Statement was carried out and reported by B S R & Co. LLP who have expressed unmodified opinion vide their audit report dated 16 February 2021, whose report have been furnished to us, and which has been relied upon by us for the purpose of our audit of the Statement. Our opinion is not modified in respect of this matter.
   For Walker Chandiok & Co LLP Chartered Accountants
   Firm Registration No:001076N/N500013

Digitally signed by

KHUSHROO KHUSHROOB PANTHAKY

B PANTHAKY Date: 2022.02.16 20:28:08 +05'30'

Khushroo B. Panthaky

Partner

Membership No:042423

UDIN:22042423ACVTBF3429

Place: Mumbai

Date: 16 February 2022

Page 3 of 3

Chartered Accountants

Offices in Bengaluru, Chandigarh, Chennai, Gurugram, Hyderabad, Kochi, Kolkata, Mumbai, New Delhi, Noida and Pune

Walker Chandiok & Co LLP is registered with limited liability with identification

number AAC-2085 and has its registered

office	a t L-41,	Connaught Circus, Outer
Circle,	New	D e l h i , 1 1 0 0 0 1 , I n d i a