Overview

Detailed Summary

NRB Bearings Limited is an established Indian bearing manufacturer, historically an Indo-French joint venture, producing needle roller, cylindrical roller and ball bearings for automotive and industrial customers across 43 countries, with strong OEM relationships and in-house engineering capabilities.
Q3 FY26 results showed revenue of INR328 crores, up 18% year-on-year, EBITDA of INR64 crores up 26% year-on-year and PAT before exceptional items of INR38 crores, reflecting margin expansion and disciplined working capital improvements within the quarter.
NRB Bearings is actively diversifying beyond automotive through a 75% JV with Unitec for industrial cylindrical roller bearings and the acquisition of Mahant Toolroom to fast-track aerospace capability, signaling an intentional strategic pivot into higher-margin, high-technology segments.
Operational discipline is emphasized: inventory days have fallen from 120–130 to 110 with working capital limits of roughly INR450 crores underutilized, while management maintains a conservative but pragmatic capex rollout totaling approximately INR270 crores to expand capacity and new product initiatives.
The company retains a CRISIL AA- credit rating and has added a new CFO with international and M&A experience, underlining a focus on governance, structured capital allocation and disciplined growth execution as NRB Bearings pursues a diversified industrial roadmap.

Sector: Auto Components
Industry: Auto Components & Equipments
Market Cap: 2,840 Cr
Volatility: High Risk
P/E Ratio: 23.0
Industry P/E: 37.0
PEG Ratio: 0.7
P/B Ratio: 3.0
52W High: 312.75
52W Low: 208.15

Sales CAGR

1Y: 9.56%
3Y: 5.70%
5Y: 7.46%
10Y: 4.56%

Profit CAGR

1Y: -65.91%
3Y: -5.77%
5Y: 14.78%
10Y: 2.75%

ROE

TTM: 14.72%
3Y: 16.55%
5Y: 14.90%
10Y: 15.58%

ROCE

TTM: 17.64%
3Y: 22.99%
5Y: 20.53%
10Y: 21.70%

Technicals

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Peers

Consumer Discretionary Auto Components Auto Components & Equipments

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
CARRARO		464.00	3,284 Cr	23.42	6.67	0.79	20.14	22.75	9.54
SUNCLAY		1232.50	3,223 Cr	-112.97	3.69	0.32	-21.23	-2.65	-0.99
SANDHAR		470.40	2,988 Cr	15.96	2.43	0.71	14.15	12.89	5.54
NRBBEARING		255.65	2,840 Cr	22.97	2.98	2.32	14.72	17.64	7.68
AUTOAXLES		1706.70	2,711 Cr	20.79	2.69	1.70	15.62	20.97	11.77
WHEELS		973.20	2,624 Cr	17.55	2.72	1.07	12.89	17.05	4.17
FMGOETZE		419.95	2,483 Cr	12.91	1.83	0.00	13.29	19.36	10.18
Median: 7 Co.	—	470.40	2,840 Cr	17.55	2.72	0.79	14.15	17.64	7.68

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

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Total Figures

QoQ Changes

Total Figures

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	279	258	285	289	302	279	329	310	325	328
Expenses	233	223	237	247	250	234	269	259	272	267
Operating Profit	46	36	47	42	52	45	60	51	54	60
OPM %	16.31	13.83	16.59	14.63	17.19	16.09	18.30	16.58	16.47	18.44
Other Income	5.08	192	12	5.07	10	1.99	-45	9.41	14	-3.39
Interest	6.24	5.68	3.93	3.14	3.01	2.51	2.42	2.85	2.22	1.63
Depreciation	11	11	11	11	12	12	12	13	13	14
Profit Before Tax	34	211	44	33	48	32	0.73	45	52	41
Tax %	26.76	21.12	27.76	22.57	24.54	30.68	283.56	27.09	20.94	28.54
Net Profit	25	166	32	26	36	22	-1.34	33	41	29
EPS in Rs	2.48	17.09	3.22	2.57	3.64	2.20	-0.21	3.31	4.19	3.84

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	795	874	965	776	762	943	1,057	1,094	1,199	1,219
Expenses	609	687	780	690	659	798	881	918	999	1,011
Operating Profit	186	187	185	86	104	145	176	176	199	208
OPM %	23.40	21.41	19.20	11.06	13.63	15.39	16.62	16.11	16.62	17.09
Other Income	7.95	12	22	16	15	10	12	205	-27	-23
Interest	17	14	15	22	22	17	20	22	11	11
Depreciation	32	31	35	33	31	37	41	43	48	49
Profit Before Tax	75	135	157	47	66	102	128	316	113	125
Tax %	29.56	31.34	30.04	29.13	16.15	25.54	24.66	23.54	27.36	28.53
Net Profit	53	93	110	33	56	76	96	242	82	90
EPS in Rs	—	—	11.17	3.31	5.58	7.56	9.57	24.70	8.20	11.13
Dividend Payout %	26.27	27.78	23.28	24.17	8.96	26.46	10.31	16.59	82.93	—

Consolidated Balance Sheet (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	19	19	19	19	19	19	19	19	19	19
Reserves	260	285	359	451	438	498	569	648	841	899
Borrowings	237	265	174	260	318	253	302	329	178	187
Other Liabilities	216	155	237	217	208	186	183	215	201	201
Total Liabilities	732	723	789	948	983	957	1,074	1,212	1,239	1,306
Fixed Assets	259	247	260	322	364	359	358	351	337	377
CWIP	4.84	8.82	15	15	16	10	11	28	43	40
Investments	0.06	6.12	14	13	12	12	34	36	44	58
Other Assets	468	461	500	598	591	575	671	796	815	832
Total Assets	732	723	789	948	983	957	1,074	1,212	1,239	1,306

Consolidated Cash Flows (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	92	85	133	71	102	158	16	61	115	84
Cash from Investing Activity	-9.56	-25	-46	-89	-65	-32	-50	-44	102	-60
Cash from Financing Activity	-79	-69	-96	36	9.15	-129	22	-13	-222	-29
Net Cash Flow	3.61	-9.71	-8.93	17	46	-2.87	-13	3.48	-4.28	-4.68

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	50.24%	50.63%	50.67%	50.69%	50.69%	51.16%	51.13%	51.20%	51.20%	51.20%	51.20%	51.20%
FIIs	21.85%	14.32%	14.31%	14.33%	13.69%	13.74%	13.45%	13.65%	14.06%	14.28%	14.12%	14.69%
DIIs	11.18%	19.48%	19.69%	18.59%	17.58%	17.08%	15.34%	14.56%	13.33%	12.27%	10.31%	10.06%
Public	16.72%	15.58%	15.33%	16.39%	18.05%	18.02%	20.07%	20.60%	21.42%	22.25%	24.37%	24.05%
Total Shareholders	45,662	47,766	53,057	52,837	64,259	65,250	73,836	75,444	73,187	70,852	71,692	70,810

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Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q2 FY26

Investor Presentation

Q4 FY25

Investor Presentation

Q3 FY25

Available on Pro Plan