NRB Bearings Ltd

About

NRB Bearings is engaged in the manufacture of ball and roller bearings.(Source : 201903 Annual Report Page No: 21)

  • Market Cap 662 Cr.
  • Current Price 68.3
  • High / Low 121 / 48.0
  • Stock P/E 84.1
  • Book Value 47.4
  • Dividend Yield 1.17 %
  • ROCE 8.21 %
  • ROE 6.31 %
  • Face Value 2.00

Pros

  • Company has been maintaining a healthy dividend payout of 27.53%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor growth of 2.82% over past five years.
  • Company might be capitalizing the interest cost
  • Earnings include an other income of Rs.21.39 Cr.
  • Promoter holding has decreased over last 3 years: -5.18%

Peer comparison

Sector: Auto Ancillaries Industry: Bearings

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
208 207 235 234 251 242 213 208 189 177 178 61
170 167 193 190 205 201 188 182 170 161 166 76
Operating Profit 38 40 42 44 46 41 26 25 19 16 12 -15
OPM % 18% 19% 18% 19% 18% 17% 12% 12% 10% 9% 7% -25%
Other Income 4 1 8 19 9 2 1 1 5 6 7 3
Interest 4 3 3 3 3 3 4 4 5 6 6 6
Depreciation 8 6 7 8 8 8 8 9 9 6 6 4
Profit before tax 31 32 39 52 44 32 14 14 10 11 7 -23
Tax % 31% 34% 32% 34% 34% 15% 18% 37% 27% 22% 29% 43%
Net Profit 21 21 27 35 29 27 12 9 7 8 5 -13
EPS in Rs 2.18 2.20 2.76 3.59 3.01 2.76 1.21 0.90 0.75 0.88 0.51 -1.33
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
288 346 471 548 578 593 654 657 707 831 940 752 605
255 289 366 441 484 492 539 557 604 679 775 679 573
Operating Profit 33 57 106 108 94 101 115 100 102 152 166 73 32
OPM % 11% 17% 22% 20% 16% 17% 18% 15% 14% 18% 18% 10% 5%
Other Income 6 9 3 3 9 5 5 10 11 12 23 19 21
Interest 10 10 6 14 18 18 18 18 17 15 15 21 23
Depreciation 19 20 23 28 30 33 28 29 29 28 32 29 25
Profit before tax 9 37 80 69 55 55 74 64 68 120 143 42 5
Tax % 53% 34% 32% 30% 15% 30% 30% 28% 27% 32% 31% 29%
Net Profit 4 24 54 48 47 38 52 46 49 82 99 29 8
EPS in Rs 0.09 0.50 5.56 4.98 4.85 3.94 5.37 4.75 5.09 8.45 10.19 3.04 0.81
Dividend Payout % 182% 40% 36% 40% 35% 28% 28% 30% 28% 31% 26% 26%
Compounded Sales Growth
10 Years:8%
5 Years:3%
3 Years:2%
TTM:-34%
Compounded Profit Growth
10 Years:2%
5 Years:-11%
3 Years:-16%
TTM:-90%
Stock Price CAGR
10 Years:4%
5 Years:-14%
3 Years:-20%
1 Year:-35%
Return on Equity
10 Years:18%
5 Years:16%
3 Years:16%
Last Year:6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
10 10 19 19 19 19 19 19 19 19 19 19
Reserves 165 178 200 225 191 217 252 282 304 371 455 440
Borrowings 130 83 97 233 247 293 309 298 264 204 259 331
59 86 133 134 124 132 148 136 133 176 178 151
Total Liabilities 363 356 449 612 581 662 729 735 720 770 911 941
160 152 169 207 191 203 221 224 212 224 285 321
CWIP 2 1 2 20 18 33 2 3 7 13 13 11
Investments 18 18 17 15 23 21 20 19 24 25 31 29
184 184 262 370 350 405 487 489 477 508 582 580
Total Assets 363 356 449 612 581 662 729 735 720 770 911 941

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
26 75 36 52 34 61 57 97 72 127 47 85
-14 -11 -31 -102 -124 -59 -17 -22 -14 -39 -65 -47
-14 -64 -3 99 39 -0 -18 -71 -68 -97 28 6
Net Cash Flow -2 1 1 49 -51 2 22 3 -10 -9 10 44

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 7% 16% 29% 21% 15% 15% 16% 14% 14% 23% 21% 8%
Debtor Days 91 79 82 88 99 118 121 132 108 104 86 100
Inventory Turnover 1.21 1.62 1.80 1.76 1.80 1.91 1.97 2.20 2.23 2.52 2.18 1.62

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
54.09 53.63 52.59 52.61 52.67 52.67 53.00 48.51 48.51 48.74 48.76 49.05
17.48 17.39 14.76 14.69 14.61 15.28 15.18 18.08 18.95 19.48 19.39 18.77
16.63 16.11 17.64 17.53 18.54 19.28 19.27 23.11 22.15 21.39 19.84 18.28
11.79 12.87 15.01 15.17 14.18 12.77 12.55 10.30 10.38 10.39 12.00 13.90

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