NRB Bearings Ltd

NRB Bearings Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

NRB Bearings Ltd

₹ 174 0.29%
02 Jun - close price
nrbbearings.com BSE: 530367 NSE : NRBBEARING
About

NRB Bearings have pioneered in the manufacturing of needle roller bearings in India since 1965. More than 90% of the vehicles running on Indian roads are running on bearings manufactured by NRB.

The Company is engaged in the business of manufacturing ball and roller bearings having its applications in automotive sector as well as across all mobility applications.

Key Points

Pioneer to produce Needle roller bearings
NRB is the first company in India to produce Needle roller bearings. The company has for more than 6 decades been into evolving bearing technology and has offered a wide range of high precision friction solutions for automotive sectors and other mobility applications. [1]

Website BSE NSE
  • Market Cap ₹ 1,682 Cr.
  • Current Price ₹ 174
  • High / Low ₹ 186 / 115
  • Stock P/E 16.8
  • Book Value ₹ 68.9
  • Dividend Yield 2.36 %
  • ROCE 16.7 %
  • ROE 15.9 %
  • Face Value ₹ 2.00
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Pros

  • Company has been maintaining a healthy dividend payout of 29.6%

Cons

  • Stock is trading at 2.52 times its book value
  • The company has delivered a poor sales growth of 4.33% over past five years.
  • Company has a low return on equity of 13.8% over last 3 years.
  • Company might be capitalizing the interest cost

* 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: Auto Ancillaries Industry: Bearings

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
188 63 198 245 257 201 257 231 255 236 258 251 312
172 79 167 202 210 175 209 201 213 193 227 217 248
Operating Profit 15 -16 30 43 47 27 47 29 42 43 30 34 64
OPM % 8% -26% 15% 18% 18% 13% 18% 13% 17% 18% 12% 14% 20%
5 4 1 4 6 8 -1 7 -3 3 3 14 -5
Interest 6 7 6 5 4 4 4 5 4 3 4 5 7
Depreciation 7 5 7 9 9 9 9 10 9 10 10 11 10
Profit before tax 7 -24 17 33 40 22 33 22 25 33 20 33 41
Tax % 36% 41% 35% 30% 12% 24% 27% 21% 30% 27% 33% 29% 18%
Net Profit 4 -14 11 23 35 17 24 17 17 24 13 23 34
EPS in Rs 0.43 -1.45 1.13 2.33 3.57 1.68 2.43 1.70 1.75 2.47 1.30 2.36 3.44
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
559 590 606 669 673 726 855 965 776 762 944 1,057
444 490 502 545 562 608 686 779 689 658 796 882
Operating Profit 114 101 104 124 111 117 169 186 86 105 148 175
OPM % 20% 17% 17% 19% 17% 16% 20% 19% 11% 14% 16% 17%
4 9 3 4 3 8 12 22 16 15 9 13
Interest 15 19 19 19 18 18 15 16 22 23 18 20
Depreciation 29 32 36 31 32 32 31 35 33 31 37 41
Profit before tax 73 58 52 78 64 75 135 157 47 66 102 128
Tax % 31% 18% 35% 31% 32% 30% 31% 30% 29% 16% 26% 26%
Net Profit 51 48 34 54 43 53 93 110 33 56 76 95
EPS in Rs 5.15 4.87 3.40 5.49 4.33 5.33 9.36 11.17 3.31 5.58 7.56 9.57
Dividend Payout % 39% 35% 32% 27% 32% 26% 28% 23% 24% 9% 26% 53%
Compounded Sales Growth
10 Years: 6%
5 Years: 4%
3 Years: 11%
TTM: 12%
Compounded Profit Growth
10 Years: 8%
5 Years: 2%
3 Years: 46%
TTM: 32%
Stock Price CAGR
10 Years: 16%
5 Years: 2%
3 Years: 38%
1 Year: 43%
Return on Equity
10 Years: 16%
5 Years: 14%
3 Years: 14%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
19 19 19 19 19 19 19 19 19 19 19 19
Reserves 214 179 200 235 260 285 359 451 438 498 569 649
258 272 316 327 311 275 216 280 359 253 302 329
139 127 142 153 142 144 195 197 167 186 183 215
Total Liabilities 630 597 677 735 732 723 789 948 983 956 1,074 1,212
231 219 233 258 259 247 260 322 364 359 358 351
CWIP 20 19 38 4 5 9 15 15 16 10 11 28
Investments 0 0 0 0 0 6 14 13 12 12 34 36
378 359 405 473 468 461 500 598 591 575 672 796
Total Assets 630 597 677 735 732 723 789 948 983 956 1,074 1,212

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
55 34 73 71 92 85 133 71 102 158 16
-113 -124 -67 -24 -10 -25 -46 -89 -65 -32 -50
105 38 -4 -25 -79 -69 -96 36 9 -129 22
Net Cash Flow 47 -52 2 22 4 -10 -9 17 46 -3 -12

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 82 94 111 109 123 97 100 81 94 100 83 77
Inventory Days 266 254 226 238 203 231 175 278 271 258 305 330
Days Payable 127 118 114 129 126 133 123 123 100 143 112 115
Cash Conversion Cycle 221 230 223 218 200 195 152 237 266 215 277 291
Working Capital Days 98 126 130 135 123 127 91 123 134 140 155 169
ROCE % 22% 16% 14% 17% 14% 16% 26% 23% 9% 11% 15% 17%

Shareholding Pattern

Numbers in percentages

20 Recently
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
48.76 49.05 49.52 49.62 49.62 49.82 49.82 49.85 49.86 49.86 49.90 50.11
19.39 18.77 19.05 20.14 22.67 22.58 23.00 21.90 21.50 21.52 21.32 21.29
19.84 18.28 14.84 13.72 11.89 11.90 11.81 11.60 11.61 11.87 11.76 11.49
12.00 13.90 16.59 16.51 15.81 15.70 15.37 16.65 17.04 16.75 17.02 17.11

* 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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Documents

Announcements

Annual reports

Credit ratings

Concalls

  • Feb 2022
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    PPT
  • Dec 2021
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  • Nov 2021
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