NRB Bearings Ltd

₹ 279 -1.85%

21 Nov 3:48 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

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 ₹ 2,702 Cr.
Current Price ₹ 279
High / Low ₹ 402 / 243
Stock P/E 31.8
Book Value ₹ 92.2
Dividend Yield 0.89 %
ROCE 13.3 %
ROE 11.4 %
Face Value ₹ 2.00

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Pros

Company has reduced debt.
Company has been maintaining a healthy dividend payout of 18.3%

Cons

Stock is trading at 3.02 times its book value
The company has delivered a poor sales growth of 1.69% over past five years.
Company has a low return on equity of 13.1% over last 3 years.
Earnings include an other income of Rs.222 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 BSE Allcap BSE Consumer Discretionary BSE SmallCap Nifty Microcap 250 Nifty Total Market

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	248	223	247	236	261	249	278	247	262	248	265	253	272
	206	198	207	196	235	218	224	212	223	221	225	225	233
Operating Profit	42	25	40	39	25	31	54	35	38	27	40	29	39
OPM %	17%	11%	16%	17%	10%	12%	19%	14%	15%	11%	15%	11%	14%
	0	6	-2	3	7	12	-4	22	7	192	13	6	10
Interest	3	5	4	3	4	5	7	6	6	5	3	3	2
Depreciation	8	8	8	8	9	9	9	9	9	10	10	10	10
Profit before tax	30	18	26	31	20	29	34	43	30	204	41	22	37
Tax %	26%	21%	26%	26%	26%	29%	19%	16%	24%	21%	28%	22%	24%
	23	14	19	23	15	21	27	36	23	162	30	18	28
EPS in Rs	2.33	1.48	2.01	2.38	1.52	2.14	2.81	3.68	2.39	16.71	3.07	1.81	2.89
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	578	593	654	657	707	831	940	752	736	912	1,023	1,023	1,039
	484	492	539	557	604	679	775	679	648	783	870	881	903
Operating Profit	94	101	115	100	102	152	166	73	88	130	153	142	136
OPM %	16%	17%	18%	15%	14%	18%	18%	10%	12%	14%	15%	14%	13%
	9	5	5	10	11	12	23	19	12	13	15	235	222
Interest	18	18	18	18	17	15	15	21	21	17	19	21	14
Depreciation	30	33	28	29	29	28	32	29	27	33	36	37	39
Profit before tax	55	55	74	64	68	120	143	42	52	93	114	318	305
Tax %	15%	30%	30%	28%	27%	32%	31%	29%	16%	25%	25%	21%
	47	38	52	46	49	82	99	29	44	70	86	250	237
EPS in Rs	4.85	3.94	5.37	4.75	5.09	8.45	10.19	3.04	4.51	7.24	8.85	25.85	24.48
Dividend Payout %	35%	28%	28%	30%	28%	31%	26%	26%	11%	28%	11%	16%

Compounded Sales Growth
10 Years:	6%
5 Years:	2%
3 Years:	12%
TTM:	0%

Compounded Profit Growth
10 Years:	8%
5 Years:	-1%
3 Years:	25%
TTM:	-13%

Stock Price CAGR
10 Years:	8%
5 Years:	24%
3 Years:	23%
1 Year:	9%

Return on Equity
10 Years:	14%
5 Years:	11%
3 Years:	13%
Last Year:	11%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	191	217	252	282	304	371	455	440	490	558	622	827	874
	247	293	309	298	264	204	259	331	229	279	304	132	94
	124	132	148	136	133	176	178	151	167	152	166	157	178
Total Liabilities	581	662	729	735	720	770	911	941	905	1,008	1,112	1,135	1,166
	191	203	221	224	212	224	285	321	313	310	298	281	288
CWIP	18	33	2	3	7	13	13	11	6	6	3	10	7
Investments	23	21	20	19	24	25	31	29	31	57	33	42	68
	350	405	487	489	477	508	582	580	554	635	778	802	802
Total Assets	581	662	729	735	720	770	911	941	905	1,008	1,112	1,135	1,166

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	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	61	57	97	72	127	47	84	148	8	37	108
	-124	-59	-17	-22	-14	-39	-65	-46	-24	-43	-35	137
	39	-0	-18	-71	-68	-97	28	6	-124	21	-13	-241
Net Cash Flow	-51	2	22	3	-10	-9	10	44	-1	-14	-11	3

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	99	118	121	132	108	104	86	100	104	88	93	81
Inventory Days	235	210	217	170	194	147	226	225	211	242	224	225
Days Payable	117	122	130	117	118	107	106	89	128	94	84	57
Cash Conversion Cycle	217	205	207	184	184	143	206	237	187	237	232	249
Working Capital Days	127	140	149	127	137	103	127	142	143	159	179	179
ROCE %	15%	15%	16%	14%	14%	23%	21%	8%	10%	14%	16%	13%

Shareholding Pattern

Numbers in percentages

38 Recently

	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 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	44,696	48,181	46,737	44,697	46,274	47,966	45,662	47,766	53,057	52,837	64,259	65,250

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
	54.66%	53.63%	52.67%	48.74%	49.62%	49.85%	50.11%	50.69%	51.16%
	19.12%	17.39%	15.28%	19.48%	20.14%	21.90%	21.29%	14.33%	13.74%
	14.68%	16.11%	19.28%	21.39%	13.72%	11.60%	11.49%	18.59%	17.08%
	11.54%	12.87%	12.77%	10.39%	16.51%	16.65%	17.11%	16.39%	18.01%
No. of Shareholders	11,273	22,141	25,264	23,343	45,403	48,181	47,966	52,837	65,250

* 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.

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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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