SNL Bearings Ltd

₹ 331 -0.32%

05 Dec 10:12 a.m.

About

Incorporated in 1983, SNL Bearings Ltd manufactures and markets antifriction bearing products^[1]

Key Points

Business Overview:^[1]^[2]
SNL was promoted by Shriram group in technical collaboration with INA Germany. At present, it is a part of NRB Bearings Limited. Company does Needle Roller Bearing manufacturing for automobile industries and also manufactures industrial bearings used in Textile machineries and household appliances. Company's product is supplied ~90% to Original Equipment Manufacturers and remainder for replacement market / exports

Website BSE

Market Cap ₹ 120 Cr.
Current Price ₹ 331
High / Low ₹ 405 / 240
Stock P/E 16.3
Book Value ₹ 154
Dividend Yield 1.96 %
ROCE 21.7 %
ROE 16.0 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Company has been maintaining a healthy dividend payout of 27.2%
Debtor days have improved from 62.9 to 49.6 days.

Cons

The company has delivered a poor sales growth of 4.56% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Bearings Industry: Bearings

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Sep 2020	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
	8.89	12.23	12.52	10.17	12.43	10.24	10.69	11.30	13.92	11.32	11.33	11.80	13.02
	6.76	8.35	8.87	7.40	8.29	7.63	8.11	8.37	10.41	8.56	9.04	9.70	10.15
Operating Profit	2.13	3.88	3.65	2.77	4.14	2.61	2.58	2.93	3.51	2.76	2.29	2.10	2.87
OPM %	23.96%	31.73%	29.15%	27.24%	33.31%	25.49%	24.13%	25.93%	25.22%	24.38%	20.21%	17.80%	22.04%
	0.14	0.22	0.08	0.26	0.29	0.26	0.27	0.10	0.46	0.27	0.34	0.51	0.42
Interest	0.00	0.01	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01
Depreciation	0.25	0.28	0.28	0.32	0.35	0.37	0.38	0.38	0.37	0.38	0.39	0.39	0.40
Profit before tax	2.02	3.81	3.45	2.71	4.08	2.50	2.47	2.65	3.60	2.65	2.24	2.22	2.88
Tax %	24.75%	25.20%	26.96%	25.46%	25.74%	24.00%	23.89%	26.04%	25.56%	23.77%	31.70%	25.68%	25.35%
	1.52	2.85	2.52	2.02	3.03	1.90	1.88	1.96	2.68	2.02	1.53	1.65	2.15
EPS in Rs	4.21	7.89	6.98	5.59	8.39	5.26	5.21	5.43	7.42	5.59	4.24	4.57	5.95
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
	20.52	22.86	23.01	26.46	30.04	33.48	38.31	40.64	34.14	36.47	43.51	47.87	47.47
	13.63	16.09	17.44	18.89	20.56	22.73	26.44	29.46	28.29	27.77	31.42	36.38	37.45
Operating Profit	6.89	6.77	5.57	7.57	9.48	10.75	11.87	11.18	5.85	8.70	12.09	11.49	10.02
OPM %	33.58%	29.62%	24.21%	28.61%	31.56%	32.11%	30.98%	27.51%	17.14%	23.86%	27.79%	24.00%	21.11%
	0.03	0.07	0.53	0.33	-0.07	0.06	0.30	1.16	0.72	0.74	1.10	1.17	1.54
Interest	0.24	0.36	0.71	0.56	0.33	0.14	0.01	0.01	0.02	0.08	0.01	0.01	0.01
Depreciation	0.44	0.37	0.43	0.60	0.57	0.71	0.79	0.92	1.01	1.00	1.42	1.52	1.56
Profit before tax	6.24	6.11	4.96	6.74	8.51	9.96	11.37	11.41	5.54	8.36	11.76	11.13	9.99
Tax %	28.37%	35.19%	31.85%	32.34%	33.25%	33.63%	27.70%	28.57%	25.09%	25.96%	24.91%	26.50%
	4.47	3.96	3.39	4.55	5.68	6.62	8.22	8.14	4.15	6.19	8.83	8.18	7.35
EPS in Rs	12.38	10.96	9.39	12.60	15.73	18.33	22.76	22.54	11.49	17.14	24.45	22.65	20.35
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	12.71%	16.36%	21.96%	22.17%	26.10%	26.24%	26.57%	28.69%

Compounded Sales Growth
10 Years:	8%
5 Years:	5%
3 Years:	12%
TTM:	3%

Compounded Profit Growth
10 Years:	8%
5 Years:	0%
3 Years:	27%
TTM:	-13%

Stock Price CAGR
10 Years:	36%
5 Years:	0%
3 Years:	32%
1 Year:	15%

Return on Equity
10 Years:	23%
5 Years:	17%
3 Years:	17%
Last Year:	16%

Balance Sheet

Figures in Rs. Crores

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
Equity Capital	3.61	3.61	3.61	3.61	3.61	3.61	3.61	3.61	3.61	3.61	3.61	3.61	3.61
Reserves	-0.42	2.83	5.52	7.29	11.02	16.30	24.68	30.63	31.13	37.40	44.71	50.43	51.91
Preference Capital	6.00	4.00	2.00	0.50	0.25	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	1.15	3.85	6.48	4.10	1.82	0.70	0.00	0.09	3.00	0.08	0.16	0.13	0.11
	9.41	7.60	5.83	7.36	6.20	4.77	5.67	5.15	4.02	5.78	6.37	8.17	7.47
Total Liabilities	13.75	17.89	21.44	22.36	22.65	25.38	33.96	39.48	41.76	46.87	54.85	62.34	63.10
	3.12	5.12	8.32	8.97	8.85	9.36	8.91	10.76	13.37	13.02	14.80	14.79	15.79
CWIP	0.00	0.00	0.00	0.28	0.03	0.08	0.25	0.22	0.00	1.27	0.21	1.24	0.00
Investments	0.00	0.00	0.00	0.00	0.00	1.07	8.72	8.08	9.85	8.03	14.52	15.25	15.92
	10.63	12.77	13.12	13.11	13.77	14.87	16.08	20.42	18.54	24.55	25.32	31.06	31.39
Total Assets	13.75	17.89	21.44	22.36	22.65	25.38	33.96	39.48	41.76	46.87	54.85	62.34	63.10

Cash Flows

Figures in Rs. Crores

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
	3.50	2.66	4.11	6.08	6.57	6.43	9.73	2.28	7.62	7.99	5.91	8.48
	-0.59	-2.37	-3.33	-0.70	-0.58	-2.25	-9.04	-0.10	-4.56	-0.06	-9.27	-7.75
	-3.08	-0.32	-0.75	-5.14	-5.65	-4.83	-0.71	-2.10	-0.58	-3.09	-1.56	-2.39
Net Cash Flow	-0.17	-0.03	0.03	0.23	0.35	-0.65	-0.01	0.08	2.48	4.84	-4.92	-1.66

Ratios

Figures in Rs. Crores

	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Debtor Days	54.43	68.18	91.21	70.63	78.49	74.68	68.88	56.22	69.60	81.77	57.30	49.64
Inventory Days	440.64	402.86	348.19	369.21	286.12	327.90	215.33	463.30	278.95	206.55	340.69	282.80
Days Payable	35.39	91.69	78.64	110.97	98.95	48.09	96.02	64.69	38.17	68.22	79.54	98.55
Cash Conversion Cycle	459.68	379.34	360.76	328.86	265.66	354.50	188.20	454.83	310.39	220.10	318.44	233.89
Working Capital Days	118.64	139.87	151.65	87.18	93.56	118.94	96.32	143.43	134.28	110.59	119.54	99.12
ROCE %	65.75%	52.54%	35.55%	44.10%	55.34%	54.78%	46.54%	35.32%	14.93%	20.68%	26.28%	21.70%

Shareholding Pattern

Numbers in percentages

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023
	74.39%	74.39%	74.39%	74.39%	74.39%	74.39%	74.39%	74.39%	74.39%	74.39%	74.39%	74.39%
	0.63%	0.63%	0.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	24.97%	24.97%	25.04%	25.60%	25.60%	25.60%	25.60%	25.60%	25.61%	25.60%	25.60%	25.60%
No. of Shareholders	4,400	4,479	4,549	5,112	5,221	5,624	5,571	5,547	5,521	5,564	5,475	5,935

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Sep 2023
	74.39%	74.39%	74.39%	74.39%	74.39%	74.39%	74.39%	74.39%
	0.00%	0.62%	0.69%	0.63%	0.63%	0.00%	0.00%	0.00%
	25.61%	24.98%	24.92%	24.97%	24.97%	25.60%	25.60%	25.60%
No. of Shareholders	4,516	4,700	4,668	4,487	4,479	5,624	5,564	5,935

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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SNL Bearings Ltd

SNL Bearings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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