NRB Bearings Ltd

₹ 315 -2.76%

25 Apr 4:01 p.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

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 ₹ 3,055 Cr.
Current Price ₹ 315
High / Low ₹ 402 / 130
Stock P/E 28.1
Book Value ₹ 69.2
Dividend Yield 1.62 %
ROCE 16.6 %
ROE 16.1 %
Face Value ₹ 2.00

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Pros

Cons

Stock is trading at 4.56 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.
Earnings include an other income of Rs.191 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
	245	257	201	257	231	255	236	258	251	312	272	279	258
	202	210	175	209	201	213	193	227	217	248	227	233	223
Operating Profit	43	47	27	47	29	42	43	30	34	64	45	46	36
OPM %	18%	18%	13%	18%	13%	17%	18%	12%	14%	21%	17%	16%	14%
	4	6	8	-1	7	-3	3	3	14	-5	-1	5	192
Interest	5	4	4	4	5	4	3	4	5	7	6	6	6
Depreciation	9	9	9	9	10	9	10	10	11	10	11	11	11
Profit before tax	33	40	22	33	22	25	33	20	33	41	28	34	211
Tax %	30%	12%	24%	27%	21%	30%	27%	33%	29%	15%	31%	27%	21%
	23	35	17	24	17	17	24	13	23	35	19	25	166
EPS in Rs	2.33	3.57	1.68	2.43	1.70	1.75	2.47	1.30	2.36	3.57	1.91	2.48	17.09
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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	TTM
	559	590	606	669	673	726	855	965	776	762	943	1,057	1,122
	444	490	502	545	562	608	686	779	689	658	796	880	931
Operating Profit	114	101	104	124	111	117	169	186	86	105	147	177	191
OPM %	20%	17%	17%	19%	17%	16%	20%	19%	11%	14%	16%	17%	17%
	4	9	3	4	3	8	12	22	16	15	10	12	191
Interest	15	19	19	19	18	18	15	16	22	23	18	21	26
Depreciation	29	32	36	31	32	32	31	35	33	31	37	41	43
Profit before tax	73	58	52	78	64	75	135	157	47	66	102	128	313
Tax %	31%	18%	35%	31%	32%	30%	31%	30%	29%	16%	26%	25%
	51	48	34	54	43	53	93	110	33	56	76	96	245
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	9.70	25.05
Dividend Payout %	39%	35%	32%	27%	32%	26%	28%	23%	24%	9%	26%	10%

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:	47%
TTM:	31%

Stock Price CAGR
10 Years:	17%
5 Years:	10%
3 Years:	44%
1 Year:	109%

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	Sep 2023
Equity Capital	19	19	19	19	19	19	19	19	19	19	19	19	19
Reserves	214	179	200	235	260	285	359	451	438	498	569	648	651
	258	272	316	327	311	275	216	280	359	253	302	329	306
	139	127	142	153	142	144	195	197	167	186	183	214	275
Total Liabilities	630	597	677	735	732	723	789	948	983	956	1,074	1,210	1,251
	231	219	233	258	259	247	260	322	364	359	358	351	336
CWIP	20	19	38	4	5	9	15	15	16	10	11	28	35
Investments	0	0	0	0	0	6	14	13	12	12	34	36	47
	378	359	405	473	468	461	500	598	591	575	671	795	833
Total Assets	630	597	677	735	732	723	789	948	983	956	1,074	1,210	1,251

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	61
	-113	-124	-67	-24	-10	-25	-46	-89	-65	-32	-50	-44
	105	38	-4	-25	-79	-69	-96	36	9	-129	22	-13
Net Cash Flow	47	-52	2	22	4	-10	-9	17	46	-3	-12	4

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	113	115
Cash Conversion Cycle	221	230	223	218	200	195	152	237	266	215	275	292
Working Capital Days	98	126	130	135	123	127	91	123	134	140	155	164
ROCE %	22%	16%	14%	17%	14%	16%	25%	23%	9%	11%	15%	17%

Shareholding Pattern

Numbers in percentages

3 Recently

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	49.62%	49.82%	49.82%	49.85%	49.86%	49.86%	49.90%	50.11%	50.24%	50.63%	50.67%	50.69%
	22.67%	22.58%	23.00%	21.90%	21.50%	21.52%	21.32%	21.29%	21.85%	14.31%	14.31%	14.33%
	11.89%	11.90%	11.81%	11.60%	11.61%	11.87%	11.76%	11.49%	11.18%	19.48%	19.69%	18.59%
	15.81%	15.70%	15.37%	16.65%	17.04%	16.75%	17.02%	17.11%	16.73%	15.58%	15.32%	16.39%
No. of Shareholders	47,650	45,274	44,696	48,181	46,737	44,697	46,274	47,966	45,662	47,766	53,057	52,837

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	54.66%	53.63%	52.67%	48.74%	49.62%	49.85%	50.11%	50.69%
	19.12%	17.39%	15.28%	19.48%	20.14%	21.90%	21.29%	14.33%
	14.68%	16.11%	19.28%	21.39%	13.72%	11.60%	11.49%	18.59%
	11.54%	12.87%	12.77%	10.39%	16.51%	16.65%	17.11%	16.39%
No. of Shareholders	11,273	22,141	25,264	23,343	45,403	48,181	47,966	52,837

* 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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NRB Bearings Ltd

NRB Bearings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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