NRB Industrial Bearings Ltd

About

NRB Industrial Bearings is engaged in the Business of Ball and Roller bearings.
(Source : 202003 Annual Report Page No:28)

  • Market Cap 45.6 Cr.
  • Current Price 18.8
  • High / Low 27.0 / 4.80
  • Stock P/E
  • Book Value 18.7
  • Dividend Yield 0.00 %
  • ROCE -1.35 %
  • ROE -21.4 %
  • Face Value 2.00

Pros

  • Stock is trading at 1.01 times its book value
  • Company is expected to give good quarter

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 7.56% over past five years.
  • Company has a low return on equity of -43.34% for last 3 years.
  • Earnings include an other income of Rs.14.33 Cr.
  • Debtor days have increased from 77.39 to 97.12 days.

Peer comparison

Sector: Bearings Industry: Bearings

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
13.96 13.71 14.78 10.51 10.87 11.46 8.85 5.52 14.64 16.76 19.49 14.41
13.50 13.47 14.76 11.06 13.49 12.55 8.26 5.72 12.87 14.45 17.29 12.92
Operating Profit 0.46 0.24 0.02 -0.55 -2.62 -1.09 0.59 -0.20 1.77 2.31 2.20 1.49
OPM % 3.30% 1.75% 0.14% -5.23% -24.10% -9.51% 6.67% -3.62% 12.09% 13.78% 11.29% 10.34%
Other Income 0.26 0.63 0.59 0.38 0.15 0.59 0.40 0.35 0.39 13.34 0.14 0.46
Interest 2.42 1.64 2.00 2.51 2.31 1.44 1.60 1.68 1.75 1.86 1.86 1.84
Depreciation 2.24 2.24 2.13 2.21 2.23 2.22 2.24 2.23 2.24 2.25 2.20 2.23
Profit before tax -3.94 -3.01 -3.52 -4.89 -7.01 -4.16 -2.85 -3.76 -1.83 11.54 -1.72 -2.12
Tax % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Profit -3.94 -3.01 -3.52 -4.90 -7.01 -4.15 -2.85 -3.76 -1.84 11.54 -1.72 -2.13
EPS in Rs -1.63 -1.24 -1.45 -2.02 -2.89 -1.71 -1.18 -1.55 -0.76 4.76 -0.71 -0.88

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Sep 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
0.00 0.00 30.02 37.14 39.19 39.15 43.43 56.09 41.69 56.41 65.30
0.01 0.00 43.82 43.23 43.63 43.96 47.76 55.13 45.05 50.30 57.53
Operating Profit -0.01 0.00 -13.80 -6.09 -4.44 -4.81 -4.33 0.96 -3.36 6.11 7.77
OPM % -45.97% -16.40% -11.33% -12.29% -9.97% 1.71% -8.06% 10.83% 11.90%
Other Income 0.00 0.00 3.46 5.95 0.93 1.17 1.43 1.97 1.30 14.23 14.33
Interest 0.00 0.00 6.96 10.74 8.00 7.10 8.63 8.10 7.94 7.20 7.31
Depreciation 0.00 0.00 6.93 8.74 7.69 8.92 8.92 8.82 8.91 8.92 8.92
Profit before tax -0.01 0.00 -24.23 -19.62 -19.20 -19.66 -20.45 -13.99 -18.91 4.22 5.87
Tax % 0.00% 4.37% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Profit -0.01 0.00 -23.17 -19.62 -19.20 -19.66 -20.46 -13.98 -18.91 4.22 5.85
EPS in Rs -9.56 -8.10 -7.92 -8.11 -8.44 -5.77 -7.80 1.74 2.41
Dividend Payout % 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Compounded Sales Growth
10 Years:%
5 Years:8%
3 Years:9%
TTM:78%
Compounded Profit Growth
10 Years:%
5 Years:9%
3 Years:16%
TTM:60%
Stock Price CAGR
10 Years:%
5 Years:-15%
3 Years:-12%
1 Year:203%
Return on Equity
10 Years:%
5 Years:-69%
3 Years:-43%
Last Year:-21%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Sep 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
0.05 0.05 4.85 4.85 14.85 4.85 20.78 27.53 39.70 44.46
Reserves -0.01 -0.02 33.82 14.20 -5.00 1.70 2.88 -2.28 -4.08 0.86
Borrowings 0.00 0.00 110.16 124.04 126.75 131.60 106.42 96.48 73.29 62.14
0.00 0.03 37.95 16.86 29.16 15.14 32.92 45.89 54.11 65.10
Total Liabilities 0.04 0.06 186.78 159.95 155.76 153.29 147.07 144.94 128.17 132.95
0.00 0.00 109.83 110.48 103.22 105.47 97.31 89.74 88.86 80.32
CWIP 0.00 0.06 0.00 0.10 0.00 0.15 1.70 2.72 2.79 2.65
Investments 0.00 0.00 4.20 4.20 4.20 4.20 4.20 5.25 5.25 5.25
0.04 0.00 72.75 45.17 48.34 43.47 43.86 47.23 31.27 44.73
Total Assets 0.04 0.06 186.78 159.95 155.76 153.29 147.07 144.94 128.17 132.95

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Sep 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-0.01 0.02 -10.77 -15.26 -3.96 3.85 -0.58 5.26 2.97 3.45
0.00 -0.05 -10.40 7.15 -2.46 -0.79 -2.51 -3.23 -0.50 -0.35
0.05 0.00 21.63 7.77 6.51 -3.18 3.66 -1.99 -2.82 0.73
Net Cash Flow 0.04 -0.03 0.46 -0.34 0.10 -0.12 0.57 0.04 -0.35 3.83

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Sep 2012 Dec 2013 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 93.74 75.38 113.53 97.80 84.97 72.62 62.42 97.12
Inventory Days 707.26 504.25 530.20 439.82 369.01 353.52 513.02 340.93
Days Payable 804.10 331.26 378.15 298.62 255.02 321.23 404.14 328.58
Cash Conversion Cycle -3.10 248.37 265.58 239.00 198.96 104.91 171.30 109.47
Working Capital Days 303.84 244.32 267.21 189.07 159.43 96.24 92.98 89.03
ROCE % -25.80% -9.19% -8.01% -9.14% -8.81% -4.68% -9.32% -1.35%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
70.26 70.29 70.38 70.38 70.70 70.70 72.97 72.97 73.32 73.72 73.93 73.95
0.01 0.01 0.01 0.01 4.22 4.22 1.66 1.32 0.36 0.01 0.01 0.01
29.73 29.70 29.61 29.61 25.08 25.08 25.37 25.71 26.32 26.27 26.06 26.04

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