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NRB Industrial Bearings Ltd.

BSE: 535458 Sector: Engineering
NSE: NIBL ISIN Code: INE047O01014
BSE LIVE 15:40 | 17 Oct 28.80 -1.15
(-3.84%)
OPEN

28.90

HIGH

29.50

LOW

28.50

NSE 15:31 | 17 Oct 28.95 0.15
(0.52%)
OPEN

29.00

HIGH

29.50

LOW

28.65

OPEN 28.90
PREVIOUS CLOSE 29.95
VOLUME 1011
52-Week high 51.00
52-Week low 28.20
P/E
Mkt Cap.(Rs cr) 70
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 28.90
CLOSE 29.95
VOLUME 1011
52-Week high 51.00
52-Week low 28.20
P/E
Mkt Cap.(Rs cr) 70
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

NRB Industrial Bearings Ltd. (NIBL) - Chairman Speech

Company chairman speech

Dear Shareholder

It gives me immense pleasure to introduce NRB Industrial Bearings’ 5th AnnualReport.

India clocked in 7.6% growth during the 2015-16 and continued to be the ‘starperformer’ outpacing China as the world’s fastest growing major economy. Theglobal economy however continued to be volatile during this period with three of theBRICS economies; China Brazil and Russia facing a slowdown. The US Federal Reserveincreased interest rates owing to growth in employment for forty one straight weeks (andtherefore a drop in unemployment claims) and low inflation. This depreciated the rupee andeven though this made India more competitive in exports; India could not take advantageowing to the weak global economic scenario. In a more local context the government’s"Make-In-India" initiative is starting to show results with many investmentsbeing made and in the pipeline.

During the course of the year NRB Industrial Bearings continued to focus towardsbuilding a stronger organization.

This ranges from a series of initiatives like hiring highly qualified personnel andexpanding its dealer network to introducing new products and working towards leanmanufacturing which are further highlighted in this report. These activities will help usachieve our goals and take on the opportunities that lie ahead in both; Indian and globalmarkets. In addition to our own product range we have also continued to strengthen ouralliances with our European partners leading us to have to a wider gamut of products forthe Indian manufacturing sector. This will give us a sustained competitive advantage overIndian bearing manufacturers.

Looking ahead we appear to have a promising year in the next fiscal. With newdevelopments we hope to penetrate new segments using "Make-In-India" to ouradvantage. While the bearing industry is poised to get further competitive I am confidantthat NRB Industrial Bearings will emerge as a promising player in this market.

We thank you for your support and look forward to the same in 2016-17.

Best Regards

Sd/-

Devesh Singh Sahney

Managing Director