NRB Bearings Ltd

₹ 279 -1.81%

21 Nov - 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

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 ₹ 2,697 Cr.
Current Price ₹ 279
High / Low ₹ 402 / 243
Stock P/E 25.4
Book Value ₹ 96.2
Dividend Yield 0.90 %
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 BSE Allcap BSE Consumer Discretionary BSE SmallCap Nifty Microcap 250 Nifty Total Market

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Detailed Comparison with:

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:	8%
5 Years:	23%
3 Years:	22%
1 Year:	7%

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

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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