NRB Bearings Q2FY11 Net Profit at Rs 14 cr, jumps 269%,

Q2FY11 Performance:

• Net Sales at Rs. 115.5 crore; up 46.3%
• Net profit at Rs. 14 crore; increase by 268.9%
• EPS for the Period at Rs. 1.44 compared to Rs. 0.39
• EBIDTA at Rs. 27.5 crore; up 121%

NRB Bearings Limited, manufacturers of needle, ball and roller bearings, has reported Net Profit of Rs 14 crore in the quarter ending September 30th, 2010. The company witnessed a 268.9% growth in its Net Profit compared to the same quarter last year.

The company’s Net Sales during the quarter, at Rs. 115.5 crore, grew by 46.3% compared with Rs. 78.9 crore in the corresponding quarter of last year.

Commenting on the results Ms. Harshbeena Zaveri, Managing Director, NRB Bearings Ltd said: “Our excellent performance in the last quarters is continuing in this quarter as well. Our plan is to become an Rs 1000 crore company by 2015”. The company which has auto majors such as Volvo, Daimler, ZF, Maruti, Tata Motors etc. on its client list, plans to work at having a presence in every auto in the world by 2020.

About NRB Bearings:

Established in 1965, NRB was incorporated as an Indo-French joint venture with Nadella, pioneering the production of needle roller bearings in India. Headquartered in Mumbai with a Research and Development center in Thane, NRB is a valued partner and a solution provider to original equipment manufacturers and a major supplier to the automotive Sector, both to the primary vehicle manufacturers as well as Tier I and the Tier II ancillaries internationally.

NRB Bearings manufactures the widest range of rolling bearings in India. The product range includes Needle Roller Bearings of all types, Cylindrical Roller Bearing, Tapered Roller Bearings and standard and non-standard Ball Bearings for the automotive industry and Spherical Roller Bearings, bottom roller bearings and Wide Inner Ring Bearings for other industrial applications. Apart from bearings, NRB also specializes in components like the Crank pin for 2 and 4 stroke engines, cam follower (rocker arm) bearings and hub pin kits.

NRB Bearings Ltd has six strategic manufacturing units in India, situated at Thane, Aurangabad, Jalna, Waluj, Hyderabad and Uttarakhand. And NRB Bearings has even opened a 100% subsidiary unit at Thailand after acquiring SNL Bearings Ltd.