Overview

Detailed Summary

SKP Bearing Industries Limited manufactures high‑precision rolling elements — needle rollers, cylindrical rollers, precision pins and steel balls — from integrated facilities in Surendranagar, Gujarat, with a newly commissioned Plant 3 dedicated to steel balls and an overseas manufacturing arm (acquired VGI) in France to serve developed market customers and enable dual‑sourcing.
Standalone profitability is unusually strong: nine‑month FY26 standalone EBITDA was ₹172.8 million (34.6% margin) with PAT margin 22.9%, showing resilient unit economics, while consolidated margins compressed materially to 13.2% EBITDA and 2.9% PAT because of France ramp‑up and one‑time costs, highlighting margin differentiation between India and consolidated results.
Operational scale‑up is visible and tangible: Plant 2 roller utilization has reached ~90% and is being expanded to 200 TPM by Q4 FY26 through debottlenecking and automation, while Plant 3 has 2,000 TPA installed capacity today and explicit Phase‑2 expansion potential, signaling a concrete import‑substitution and volume growth agenda.
The France acquisition creates strategic access to developed markets and is already generating commercial traction: exports rose from ~2% to 5% of revenue and management highlights a key French customer opportunity (~₹100 crore by FY30), using the dual footprint to manage tariffs and deliver just‑in‑time supply for global OEMs.
SKP combines advanced testing and process capabilities — in‑house UTS, roundness and contour testers, AI‑assisted manufacturing and renewable captive energy — positioning the company to target higher‑margin niche segments including aerospace, defense and specialized industrial applications while maintaining cost competitiveness versus Chinese imports.

Sector: Bearings
Industry: Bearings - Medium / Small
Market Cap: 258 Cr
Volatility: Moderate Risk
P/E Ratio: 86.7
Industry P/E: 22.6
PEG Ratio: 1.6
P/B Ratio: 5.0
52W High: 263.00
52W Low: 150.00

Sales CAGR

1Y: 36.14%
3Y: 75.83%
5Y: 10.52%
10Y: —

Profit CAGR

1Y: -72.19%
3Y: 52.90%
5Y: 9.90%
10Y: —

ROE

TTM: 17.02%
3Y: 25.08%
5Y: —
10Y: —

ROCE

TTM: 22.66%
3Y: 26.94%
5Y: —
10Y: —

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
SKP	155.25	258 Cr	86.73	5.04	0.71	17.02	22.66	5.04
BIMETAL	566.00	220 Cr	20.50	0.96	2.26	5.00	5.61	3.52
GALXBRG	475.00	151 Cr	23.71	1.41	0.00	5.70	7.64	4.41
SNL	365.00	132 Cr	11.88	1.87	2.19	16.07	20.96	13.98
NIBL	32.20	78 Cr	4.65	0.00	0.00	67.91	-13.62	12.36
VISHALBL	53.66	58 Cr	-37.79	1.73	0.00	-4.79	3.12	-1.35
AUSTENG	118.85	41 Cr	9.12	0.60	0.00	6.35	7.93	4.28

Financial Statements

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Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Jun 2025	Sep 2025	Dec 2025
Sales	22	18	25
Expenses	20	13	23
Operating Profit	2.62	4.53	1.40
OPM %	11.84	25.39	5.65
Other Income	0.24	2.41	0.42
Interest	0.80	0.76	0.83
Depreciation	0.88	1.55	1.06
Profit Before Tax	1.17	4.63	-0.07
Tax %	68.38	35.64	-2,014.29
Net Profit	0.38	2.98	-1.48
EPS in Rs	0.23	1.79	—

Consolidated Profit Loss (in ₹ Crores)

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Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Sales	52	70
Expenses	34	59
Operating Profit	17	11
OPM %	33.77	15.70
Other Income	0.26	0.71
Interest	1.12	1.96
Depreciation	1.31	2.45
Profit Before Tax	15	7.34
Tax %	30.13	59.49
Net Profit	11	2.97
EPS in Rs	—	—
Dividend Payout %	17.11	61.45

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Equity Capital	17	17
Reserves	34	35
Borrowings	25	29
Other Liabilities	15	17
Total Liabilities	90	97
Fixed Assets	32	60
CWIP	19	0.00
Investments	0.02	0.11
Other Assets	39	37
Total Assets	90	97

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2024	Mar 2025
Cash from Operating Activity	6.87	5.95
Cash from Investing Activity	-23	-8.23
Cash from Financing Activity	19	-0.09
Net Cash Flow	2.86	-2.37

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Mar 2022	Jul 2022	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	100.00%	73.49%	73.49%	73.49%	73.49%	73.49%	74.46%	74.51%	74.68%	74.68%	74.75%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	1.26%	1.34%	1.34%	1.54%	2.01%	2.84%	3.03%	3.03%
Public	0.00%	26.51%	26.51%	25.25%	25.17%	25.17%	23.99%	23.48%	22.48%	22.29%	22.22%
Total Shareholders	7	1,477	806	930	1,204	1,718	1,769	1,686	1,547	1,578	1,577

Market Transactions

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Investor Presentation

Q3 FY26

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Q2 FY26

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Q1 FY26

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