NSE: NRBBEARING · BSE: 530367
NRB BEARING LIMITED
Manufactures bearings for automotive and industrial applications, with customers in India and abroad. Automotive is the largest end-market, with bearing content per vehicle described as value-neutral across ICE, hybrid, and EV platforms; international auto customers include Daimler, Audi, and ZF. The industrial segment (tractors, farm equipment, construction, off-highway) is about 14-15% of revenue, with a stated target of 20-25% over approximately three years and 25% by 2031. Aerospace and defence entry was made via the Mahant Tool acquisition, with the Mahant Tool order book around ₹50 crore and HAL as 100% of the current order book; AS9100D aerospace certification has been secured. FY26 consolidated revenue was ₹1,335.15 crore, with EBITDA margin of 19.5% and PAT of ₹145.63 crore (up 77% YoY); margin improvement is described as structural, driven by solar energy adoption, automation, yield gains, and renegotiated vendor costs. Raw materials at 39.2% of revenue are the largest cost line, followed by other operating expenses at 27.8% and employee cost at 15.5%. Capex of ₹120 crore is guided for FY27, with major machine commissioning from June-July 2026, supporting a stated 5-year revenue goal of ₹2,500 crore. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Automotive bearings, Industrial bearings, Aerospace and defence. Mass-customisation bearings manufacturer with EV-agnostic product mix and growing industrial and aerospace diversification
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 944 | 1,057 | 1,094 | 1,199 | 1,335 |
| EBITDA (ex other income) | 143 | 164 | 361 | 147 | 225 |
| margin % | 15.1 | 15.5 | 33.0 | 12.3 | 16.9 |
| Owners' profit | 76 | 93 | 239 | 79 | 143 |
| EPS, as reported (₹) | 7.56 | 9.57 | 24.71 | 8.20 | 15.61 |
| ROE % · ROCE % | 12.6 · 17.2 | 13.9 · 19.2 | 27.6 · 36.4 | 8.8 · 13.0 | 14.8 · 20.3 |
| Debt / equity (x) | 0.49 | 0.47 | 0.20 | 0.20 | 0.15 |
| Cash from operations | 16 | 62 | 116 | 84 | 241 |
| Capex | (30) | (41) | (49) | (82) | (105) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 302 | 279 | 329 | 310 | 325 | 328 | 372 | 370 |
| Profit before tax | 48 | 32 | 1 | 45 | 52 | 41 | 56 | 51 |
| Net profit | 36 | 22 | (1) | 33 | 41 | 29 | 42 | 38 |
| EPS (₹) | 3.64 | 2.20 | (0.21) | 3.31 | 4.19 | 2.95 | 4.27 | 3.80 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| SAMVRDHNA MTHRSN INTL LTD | 1,69,176 | 38.6 | 3.87 | 15.1 | 9.4 | 8.2 | 17.1 | 9.0 |
| BOSCH LIMITED | 1,39,756 | 59.1 | 9.41 | 34.3 | 18.7 | 24.1 | 15.6 | 17.9 |
| BHARAT FORGE LTD | 83,937 | 118.9 | 8.78 | 30.3 | 11.4 | 13.2 | 21.6 | 8.8 |
| UNO MINDA LIMITED | 63,520 | 52.8 | 8.75 | 29.1 | 17.7 | 15.7 | 25.3 | 10.4 |
| SCHAEFFLER INDIA LIMITED | 56,735 | 45.3 | 9.23 | — | 10.4 | 14.1 | — | 19.4 |
| SONA BLW PRECISION FRGS L | 54,705 | 78.5 | 8.92 | 47.5 | 10.3 | 12.9 | — | 25.1 |
| TUBE INVEST OF INDIA LTD | 41,237 | 67.9 | 2.90 | 15.9 | 7.9 | 12.4 | 30.3 | 10.6 |
| ENDURANCE TECHNO. LTD. | 32,484 | 33.5 | 4.75 | 15.9 | 13.9 | 15.6 | 17.4 | 13.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 29.9 | 25.3 | 69 of 119 | 42% |
| P/B | 4.5 | 3.2 | 77 of 117 | 35% |
| ROCE | 19.4 | 12.6 | 29 of 125 | 77% |
| ROE | 14.8 | 11.7 | 39 of 117 | 67% |
| Debt / Equity | 0.1 | 0.3 | 48 of 117 | 60% |
| EBITDA margin | 19.4 | 12.2 | 16 of 118 | 87% |
| Revenue growth | 19.2 | 20.2 | 61 of 113 | 46% |
| Profit growth | 15.1 | 24.4 | 65 of 115 | 44% |
| Market cap | 4403 | 1460 | 41 of 126 | 68% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 22 Oct 2026 · NRB Bearing to sell 2.57% stake in Amplus Ampere for about Rs 1.46 crore | strategic transactions | medium | — | — |
| 6 Oct 2026 · RTA certifies share dematerialisation compliance for Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · NRB Bearings promoter sells shares and releases 9 lakh pledged shares | ownership changes | medium | — | — |
| 30 Sept 2026 · NRB Bearings promoter Harshbeena Zaveri releases 9 lakh pledged shares | ownership changes | high | — | — |
| 28 Sept 2026 · Trading Window closed from Oct 1, 2026 for Q2 FY26 results | compliance | minimal | — | — |
| 25 Sept 2026 · Promoter Harshbeena Zaveri releases pledged shares in NRB Bearings | ownership changes | high | — | — |
| 25 Sept 2026 · Promoter sells 18,450 shares, releases 7 lakh pledged shares | ownership changes | high | — | — |
| 22 Sept 2026 · NRB Bearing clarifies on recent volume spike - no undisclosed event | compliance | low | — | — |
| 21 Sept 2026 · Clarification on recent increase in share trading volume | regulatory legal | low | — | — |
| 21 Sept 2026 · BSE seeks clarification from NRB Bearings on unusual volume movement | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.