NRB Bearings Ltd

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

NRB Bearings Ltd

₹ 299 -0.47%
12 Dec 11:07 a.m.
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

Market Leadership
The company is recognized as a leader in needle roller bearings, and conventional cylindrical roller bearings and has developed a new generation of lightweight drawn cup bearings. It was the first to manufacture needle roller bearings in India, with an estimated market share of 60% in this segment. Over 90% of Indian vehicles use parts manufactured by the company. [1] [2]

Website BSE NSE
  • Market Cap ₹ 2,898 Cr.
  • Current Price ₹ 299
  • High / Low ₹ 402 / 243
  • Stock P/E 27.3
  • Book Value ₹ 96.2
  • Dividend Yield 0.83 %
  • ROCE 14.6 %
  • ROE 12.7 %
  • Face Value ₹ 2.00
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Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 17.8%
  • Debtor days have improved from 72.7 to 57.4 days.

Cons

  • The company has delivered a poor sales growth of 2.54% over past five years.
  • Earnings include an other income of Rs.219 Cr.

* 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

Part of Nifty Microcap 250 BSE SmallCap Nifty Total Market BSE Allcap BSE Consumer Discretionary

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
257 231 255 236 258 251 312 272 279 258 285 289 302
209 201 213 193 227 217 248 227 233 223 237 247 250
Operating Profit 47 29 42 43 30 34 64 45 46 36 47 42 52
OPM % 18% 13% 17% 18% 12% 14% 21% 17% 16% 14% 17% 15% 17%
-1 7 -3 3 3 14 -5 -1 5 192 12 5 10
Interest 4 5 4 3 4 5 7 6 6 6 4 3 3
Depreciation 9 10 9 10 10 11 10 11 11 11 11 11 12
Profit before tax 33 22 25 33 20 33 41 28 34 211 44 33 48
Tax % 27% 21% 30% 27% 33% 29% 15% 31% 27% 21% 28% 23% 25%
24 17 17 24 13 23 35 19 25 166 32 26 36
EPS in Rs 2.43 1.70 1.75 2.47 1.30 2.36 3.57 1.91 2.48 17.09 3.22 2.57 3.64
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
590 606 669 673 726 855 965 776 762 943 1,057 1,094 1,134
490 502 545 562 608 686 779 689 658 796 881 918 957
Operating Profit 101 104 124 111 117 169 186 86 105 147 176 176 177
OPM % 17% 17% 19% 17% 16% 20% 19% 11% 14% 16% 17% 16% 16%
9 3 4 3 8 12 22 16 15 10 12 205 219
Interest 19 19 19 18 18 15 16 22 23 18 20 22 16
Depreciation 32 36 31 32 32 31 35 33 31 37 41 43 45
Profit before tax 58 52 78 64 75 135 157 47 66 102 128 316 335
Tax % 18% 35% 31% 32% 30% 31% 30% 29% 16% 26% 25% 24%
48 34 54 43 53 93 110 33 56 76 96 242 259
EPS in Rs 4.87 3.40 5.49 4.33 5.33 9.36 11.17 3.31 5.58 7.56 9.70 24.71 26.52
Dividend Payout % 35% 32% 27% 32% 26% 28% 23% 24% 9% 26% 10% 17%
Compounded Sales Growth
10 Years: 6%
5 Years: 3%
3 Years: 13%
TTM: 2%
Compounded Profit Growth
10 Years: 12%
5 Years: 0%
3 Years: 22%
TTM: -3%
Stock Price CAGR
10 Years: 9%
5 Years: 27%
3 Years: 22%
1 Year: -1%
Return on Equity
10 Years: 16%
5 Years: 12%
3 Years: 14%
Last Year: 13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 19 19 19 19 19 19 19 19 19 19 19 19 19
Reserves 179 200 235 260 285 359 451 438 498 569 648 841 912
272 316 327 311 275 216 280 359 253 302 329 178 150
127 142 153 142 144 195 197 167 186 183 215 201 235
Total Liabilities 597 677 735 732 723 789 948 983 956 1,074 1,212 1,239 1,316
219 233 258 259 247 260 322 364 359 358 351 337 383
CWIP 19 38 4 5 9 15 15 16 10 11 28 43 22
Investments 0 0 0 0 6 14 13 12 12 34 36 44 83
359 405 473 468 461 500 598 591 575 671 796 815 829
Total Assets 597 677 735 732 723 789 948 983 956 1,074 1,212 1,239 1,316

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
34 73 71 92 85 133 71 102 158 16 61 115
-124 -67 -24 -10 -25 -46 -89 -65 -32 -50 -44 100
38 -4 -25 -79 -69 -96 36 9 -129 22 -13 -222
Net Cash Flow -52 2 22 4 -10 -9 17 46 -3 -12 4 -7

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 94 111 109 123 97 100 81 94 100 83 77 57
Inventory Days 254 226 238 203 231 175 278 271 258 305 330 364
Days Payable 118 114 129 126 133 123 123 100 143 113 115 84
Cash Conversion Cycle 230 223 218 200 195 152 237 266 215 275 292 338
Working Capital Days 126 130 135 123 127 91 123 134 140 155 164 168
ROCE % 16% 14% 17% 14% 16% 25% 23% 9% 11% 15% 16% 15%

Shareholding Pattern

Numbers in percentages

31 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
49.82% 49.85% 49.86% 49.86% 49.90% 50.11% 50.24% 50.63% 50.67% 50.69% 50.69% 51.16%
23.00% 21.90% 21.50% 21.52% 21.32% 21.29% 21.85% 14.31% 14.31% 14.33% 13.69% 13.74%
11.81% 11.60% 11.61% 11.87% 11.76% 11.49% 11.18% 19.48% 19.69% 18.59% 17.58% 17.08%
15.37% 16.65% 17.04% 16.75% 17.02% 17.11% 16.73% 15.58% 15.32% 16.39% 18.05% 18.01%
No. of Shareholders 44,69648,18146,73744,69746,27447,96645,66247,76653,05752,83764,25965,250

* 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.

Click on the line-items to see the names of individual entities.

Documents

Announcements

Annual reports

Credit ratings

Concalls

  • Aug 2023
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  • Feb 2022
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  • Dec 2021
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  • Nov 2021
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