NRB Bearings Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹4,417 Cr
- P/E
- 29.55
- ROE
- 15.58%
- PEG
- 2.24
- Price to sales
- 3.15
- Debt to equity
- 0.16
- 52W high / low
- ₹543 / ₹216
- Sales growth (5Y)
- 11.86%
- EBITDA margin
- 17.55%
- Net profit margin
- 11.19%
- Promoter holding
- 44.73%
- Sales (last year)
- ₹1,395 Cr
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.
Guidance scorecard · Q1 FY27 call
What NRB Bearings Ltd's management guided
and where it ranks in Auto Components
Auto Components
RevenueQ1 FY27 call
10–20%- The company has demonstrated a 14.28% compound annual growth rate (CAGR) over the last 12 months.
- Using this growth rate as a baseline, revenue is expected to reach around INR 2,700 crores by FY31.
- The aspirational vision for FY31 is around INR 3,000 crores, considering ongoing new product introductions and market traction, especially in aerospace and other verticals.
- Growth momentum in FY27 started strong with 19% growth in Q1; management indicates potential to maintain 15%-20% growth for the full year.
- New business wins, such as the Make in USA Corvette program and aerospace orders, drive upward growth potential.
2 more points from NRB Bearings Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what NRB Bearings Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Total capex planned is INR270 crores.
- INR60 crores already invested; INR100 crores either ordered or in process.
- Capex utilized to generate approximately INR130 crores in sales per INR100 crores invested.
- Investment includes INR110 crores towards Unitec JV focusing on industrial cylindrical roller bearings.
- The Unitec JV plant has shifted location from Hyderabad to Aurangabad; partial facility already purchased.
- The Aurangabad plant is expected to be commissioned by April 2027.
- Acquisition of Mahant Tool Room to strengthen aerospace and defense business with operational scale-up.
2 more points from NRB Bearings Ltd's call on capex
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FundraisingQ1 FY27 call
See what NRB Bearings Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
Rising- Mahant Tool Room (MTR) current order book: Approximately INR 30 crores; total defense orders including non-aerospace defense ~INR 50 crores.
- MTR recent acquisition order book: INR 25 crores at acquisition plus additional spherical bearing orders.
- Lifetime nominated business has grown beyond INR 800 crores, including new US Make in USA business with a peak volume of USD 300,000 (Corvette program).
- Aerospace breakthrough order: Sukhoi-30 order for plain spherical bearings, a high-margin, specialized product.
2 more points from NRB Bearings Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Auto Components
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Auto Components companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Flat | ₹3,020 Cr | 47.8 | |
| 2 | 40%+ | Flat | ₹1,998 Cr | 63.5 | |
| 3 | 40%+ | Flat | ₹428 Cr | 17.5 | |
| 4 | 20–40% | Up 2%+ | ₹25,721 Cr | 73.8 | |
| 5 | 20–40% | Up 2%+ | ₹13,417 Cr | 40.5 | |
| 6 | 20–40% | Up 0–2% | ₹23,344 Cr | 37.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Auto Components rankingFinancials of NRB Bearings Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of NRB Bearings Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 312 | 272 | 279 | 258 | 285 | 289 | 302 | 279 | 329 | 310 | 325 | 328 | 372 |
| Expenses + | 248 | 227 | 233 | 223 | 237 | 247 | 250 | 234 | 269 | 259 | 272 | 267 | 305 |
| Operating Profit | 64 | 45 | 46 | 36 | 47 | 42 | 52 | 45 | 60 | 51 | 54 | 60 | 67 |
| OPM % | 21% | 17% | 16% | 14% | 17% | 15% | 17% | 16% | 18% | 17% | 16% | 18% | 18% |
| Other Income + | -5 | -1 | 5 | 192 | 12 | 5 | 10 | 2 | -45 | 9 | 14 | -3 | 7 |
| Interest | 7 | 6 | 6 | 6 | 4 | 3 | 3 | 3 | 2 | 3 | 2 | 2 | 2 |
| Depreciation | 10 | 11 | 11 | 11 | 11 | 11 | 12 | 12 | 12 | 13 | 13 | 14 | 16 |
| Profit before tax | 41 | 28 | 34 | 211 | 44 | 33 | 48 | 32 | 1 | 45 | 52 | 41 | 56 |
| Tax % | 15% | 31% | 27% | 21% | 28% | 23% | 25% | 31% | 284% | 27% | 21% | 29% | 25% |
| Net Profit + | 35 | 19 | 25 | 166 | 32 | 26 | 36 | 22 | -1 | 33 | 41 | 29 | 42 |
| EPS in Rs | 3.57 | 1.91 | 2.48 | 17.09 | 3.22 | 2.57 | 3.64 | 2.20 | -0.21 | 3.31 | 4.19 | 2.95 | 4.27 |
Financials of NRB Bearings Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 669 | 673 | 726 | 855 | 965 | 776 | 762 | 943 | 1,057 | 1,094 | 1,199 | 1,335 |
| Expenses + | 545 | 562 | 608 | 686 | 779 | 689 | 658 | 796 | 881 | 918 | 999 | 1,103 |
| Operating Profit | 124 | 111 | 117 | 169 | 186 | 86 | 105 | 147 | 176 | 176 | 199 | 232 |
| OPM % | 19% | 17% | 16% | 20% | 19% | 11% | 14% | 16% | 17% | 16% | 17% | 17% |
| Other Income + | 4 | 3 | 8 | 12 | 22 | 16 | 15 | 10 | 12 | 205 | -27 | 27 |
| Interest | 19 | 18 | 18 | 15 | 16 | 22 | 23 | 18 | 20 | 22 | 11 | 9 |
| Depreciation | 31 | 32 | 32 | 31 | 35 | 33 | 31 | 37 | 41 | 43 | 48 | 57 |
| Profit before tax | 78 | 64 | 75 | 135 | 157 | 47 | 66 | 102 | 128 | 316 | 113 | 194 |
| Tax % | 31% | 32% | 30% | 31% | 30% | 29% | 16% | 26% | 25% | 24% | 27% | 25% |
| Net Profit + | 54 | 43 | 53 | 93 | 110 | 33 | 56 | 76 | 96 | 242 | 82 | 146 |
| EPS in Rs | 5.49 | 4.33 | 5.33 | 9.36 | 11.17 | 3.31 | 5.58 | 7.56 | 9.70 | 24.71 | 8.20 | 14.73 |
| Dividend Payout % | 27% | 32% | 26% | 28% | 23% | 24% | 9% | 26% | 10% | 17% | 83% | 54% |
Financials of NRB Bearings Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 | 19 |
| Reserves | 235 | 260 | 285 | 359 | 451 | 438 | 498 | 569 | 648 | 841 | 899 | 943 |
| Borrowings + | 327 | 311 | 275 | 216 | 280 | 359 | 253 | 302 | 329 | 178 | 187 | 154 |
| Other Liabilities + | 153 | 142 | 144 | 195 | 197 | 167 | 186 | 183 | 215 | 201 | 201 | 239 |
| Total Liabilities | 735 | 732 | 723 | 789 | 948 | 983 | 956 | 1,074 | 1,212 | 1,239 | 1,306 | 1,356 |
| Fixed Assets + | 258 | 259 | 247 | 260 | 322 | 364 | 359 | 358 | 351 | 337 | 377 | 422 |
| CWIP | 4 | 5 | 9 | 15 | 15 | 16 | 10 | 11 | 28 | 43 | 40 | 43 |
| Investments | 0 | 0 | 6 | 14 | 13 | 12 | 12 | 34 | 36 | 44 | 58 | 74 |
| Other Assets + | 473 | 468 | 461 | 500 | 598 | 591 | 575 | 671 | 796 | 815 | 832 | 818 |
| Total Assets | 735 | 732 | 723 | 789 | 948 | 983 | 956 | 1,074 | 1,212 | 1,239 | 1,306 | 1,356 |
Financials of NRB Bearings Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 71 | 92 | 85 | 133 | 71 | 102 | 158 | 16 | 61 | 115 | 84 | 241 |
| Cash from Investing Activity + | -24 | -10 | -25 | -46 | -89 | -65 | -32 | -50 | -44 | 100 | -60 | -120 |
| Cash from Financing Activity + | -25 | -79 | -69 | -96 | 36 | 9 | -129 | 22 | -13 | -222 | -29 | -140 |
| Net Cash Flow | 22 | 4 | -10 | -9 | 17 | 46 | -3 | -12 | 4 | -7 | -5 | -18 |
| Free Cash Flow | 53 | 73 | 58 | 94 | -21 | 37 | 122 | -14 | 21 | 66 | 2 | 136 |
| CFO/OP | 80% | 102% | 95% | 100% | 66% | 133% | 164% | 28% | 56% | 86% | 61% | 126% |
Financials of NRB Bearings Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 109 | 123 | 97 | 100 | 81 | 94 | 100 | 83 | 77 | 57 | 66 | 67 |
| Inventory Days | 238 | 203 | 231 | 175 | 278 | 271 | 258 | 305 | 330 | 364 | 349 | 302 |
| Days Payable | 129 | 126 | 133 | 123 | 123 | 100 | 143 | 113 | 115 | 84 | 83 | 88 |
| Cash Conversion Cycle | 218 | 200 | 195 | 152 | 237 | 266 | 215 | 275 | 292 | 338 | 332 | 281 |
| Working Capital Days | 34 | 28 | 48 | 47 | 56 | 19 | 61 | 64 | 75 | 119 | 118 | 113 |
| ROCE % | 17% | 14% | 16% | 25% | 23% | 9% | 11% | 15% | 16% | 15% | 16% | 19% |
Guidance history
How NRB Bearings Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 10–20% | Flat | Planned | — | Rising |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 10–20% | Flat | Planned | Planned | — |
| Q2 FY26 call → | 10–20% | Flat | Planned | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
88 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +70.9% | 90% |
| Last 6 months | +60.4% | 91% |
| Last 3 months | +9.5% | 78% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For NRB Bearings Ltd: 0.4 × 90 + 0.4 × 91 + 0.2 × 78 = 88.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What NRB Bearings Ltd's management said in earlier quarters
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