NRB Industrial Bearings Limited
Mumbai - 400 001
The Directors submit this 11th Annual Report of NRB IndustrialBearings Limited (the "Company" or "NIBL") along with the AuditedFinancial Statements for the Financial Year (FY) ended March 31 2022. Consolidatedperformance of the Company and its Associates has been referred to wherever required.
1. Financial Overview:
a. A summary of the Company?s Financial Performance during theFinancial Year:
(Rs. in lakhs
|Particulars ||For the Financial Year ended March 312022 ||For the Financial Year ended March 312021 |
|Revenue from Operations ||6944.31 ||5640.88 |
|EBITA ||695.07 ||812.67 |
|Profit/(Loss) before Exceptional items and Tax ||(982.31) ||(866.42) |
|Exceptional Items Gain/(Loss) ||- ||1288.45 |
|Profit/(Loss) Before Tax ||(982.31) ||422.03 |
|Tax Expenses ||- ||- |
|Profit/(Loss) after Tax ||(982.31) ||422.03 |
|Other Comprehensive Income ||17.07 ||(71.83) |
|Total Comprehensive Income ||(999.38) ||493.86 |
|Earnings Per Share ||(4.05) ||1.74 |
This report of the Board of Directors along with its AnnexuresManagement Discussion and Analysis Report Corporate Governance Report FinancialStatements along with their Notes are prepared for the period from April 12021 to March312022 (hereinafter referred as "financial year").
b. Transfer to Reserves:
During the year under review no amount has been transferred toreserves.
Your Directors do not recommend any dividend for the year under review.
d. Transfer of Unclaimed Dividend to Investor Education and ProtectionFund:
Not Applicable as Company has not declared any dividend in past neitherduring the year.
e. Public Deposits:
Your Company has not accepted or renewed any deposits under Chapter Vof the Companies Act 2013 read with Companies (Acceptance of Deposit) Rules 2014 duringthe Financial Year 2021-2022.
f. Loan from Directors
During the Financial Year 2021-22 the Company has accepted loans fromthe directors of the Company for which the Company has received the declaration that thesaid loan is not from the borrowed funds.
g. Disclosure of orders passed by Regulators or Courts or Tribunal:
There were no significant and material orders passed by any Regulatorsor Courts or Tribunals during the financial year ended March 31 2022 impacting the goingconcern status and Company's operations in future.
h. Material changes and commitment if any affecting the financialposition of the Company:
There has been no material change/commitment affecting the financialposition of the Company which have occurred between the end of the financial year of theCompany to which the financial statements relate and the date of this Report.
2. Operational Overview:
First quarter of FY 2021-22 started with another wave of Covid-19 withsome restriction and partial lockdown in some part of India. Although second and thirdwave's economic effect was significantly less than the full lockdown in 2020-21 but dueto health consequences there was economic uncertainty throughout the year.
In general business environment was cautious and uncertain in firsttwo quarters of the FY 2021-22. By end of Q2 market demand start increasing and alsorequirements has been stabilized with strong forecast. Your company has done well toachieve growth and continuity in the business under challenging time.
New infections have fallen significantly vaccination rates have risento surpass a billion doses and now with most of the restrictions being lifted the countryis on its way to normalcy. With normalcy demand expected to increase in FY 2022-23.
Your company has a world class manufacturing facility with fullyequipped Research and Development Centre for new development to meet the customers'expectations and new demand.
Your company has optimistic growth plan to excel in FY 2022-23. Yourcompany is working on strategy to expend the wings to reach the customers and provide costeffective Engineering & Bearing solutions.
In continuation of last year focus is to expand the distributionnetwork and addition of new OEM customers with expanding our product portfolio andincrease the share of business with existing customers.
The export business strategy is to expand geographical reach andproduct portfolio with specific focus on new product developments.
Growth strategy is to focus specific OEM segment like Textile MaterialHandling Agriculture Industrial Electrical Vibratory motors and Industrial Transmissionto take forward our solution offerings. Your company is expanding distribution network inorder to reach each potential customer in industrial market with focus on segments such asAgriculture Jute textile Metal Cement and mining.
This year your company specifically focused on "Positive attitudeand Knowledge sharing". We improved our brand acceptability with value addition andexpanding the reach to large extend.
Market dynamics are fluctuating with change in buying pattern of endcustomer. Your company is evaluating the new gradually evolving dynamics of the market andtake forward the growth strategy accordingly.
a) Financial Results:
Your Company's turnover stood at Rs. 6944.31 lakhs for the financialyear ended March 31 2022 as against Rs.5640.88 lakhs in the previous year. Companyregistered rise in growth of 23% over previous year.
Export turnover of your Company for the financial year 2022 wasRs.2175.30 lakhs as against previous year Rs. 1585.20 lakhs.
b) State of Company's Affairs and Business Review:
The details of the Company's affairs including its operations are morespecifically given in the Management Discussion and Analysis Report which forms part ofthis Annual Report.
c) Change in the nature of business:
The Company manufactures bearings for industrial applications. Therehas been no change in the main nature of business activities of the Company during thefinancial year under review.
d) Change in Share Capital:
During the year under review there was no change in the share capitalof the Company. The Company has neither issued any shares nor has granted stock options orsweat equity. During the year under review Company had passed the postal ballot dated 11thMarch 2022 for increased the Authorized Share Capital of the Company from 850000000/-to Rs. 990000000/- since the shareholder had not approved the increase in theAuthorized Capital the Authorized Capital remain the same.
3. Directors and Key Managerial personnel:
During the year under the review there were following changes in theComposition of Board of Directors ('Board').
Inductions to the Board:
During the year there was change in designation of Mr. Samrat Zaveri(DIN: 00374104) as an Additional Independent Director to Independent Director of theCompany at the ensuing 10th Annual General Meeting of the Company.
a) In accordance with the provisions of Section 152 of the CompaniesAct 2013 and the Articles of Association of the Company Mr. Devesh Singh Sahney (DIN:00003956) is liable to retire by rotation at the ensuing Annual General Meeting and beingeligible offers himself for re-appointment.
The present term of appointment of Mr. Devesh Singh Sahney as theManaging Director is valid up to 30th September 2022. The Board has subject to theapproval of the Members in the forthcoming AGM approved the re-appointment of Mr. DeveshSingh Sahney as Managing Director for another period of five years post completion of hispresent term.
b) During the period Mrs. Sushama Kadam the Company Secretary of theCompany resigned from the Company w.e.f. May 24 2022 and based on the recommendation ofthe Nomination and Remuneration Committee held on May 24 2022 the Board of Directors ofthe Company at its meeting held on May 24 2022 appointed Mrs. Vandana Yadav as theCompany Secretary of the Company w.e.f. May 242022.
c) Pursuant to Section 203 of Companies Act 2013 the Key managerialpersonnel's (KMPs) of the Company are:
Mr. Devesh Singh Sahney Chairman and Managing Director
Mrs. Gulestan Kolah Chief Financial Officer
Mrs. Sushama Kadam Company Secretary and Compliance Officerresigned w.e.f. May 24 2022
Mrs. Vandana Yadav Company Secretary and Compliance Officerappointed w.e.f. May 24 2022
d) All the Independent Directors have furnished declaration inaccordance with the provisions of Section 149 (7) of the Companies Act 2013 regardingmeeting the criteria of independence as provided under Section 149 (6) read withRegulation 16 (1) (b) of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015.
4. Familiarization Program for Independent Directors:
As required by the Securities and Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations 2015 and the provisions of theCompanies Act 2013 the Board has framed a Familiarization Program for the IndependentDirectors of the Company in order to update them with the nature of industry in which theCompany operates and business model of the Company in order to familiarize them with theirroles rights responsibilities etc. The details of the above mentioned FamiliarizationProgram is uploaded on the website of the Company www.nrbindustrialbearings.com.
Each newly appointed Independent Director is taken through a formalinduction program including the presentation from the Managing Director and Chieffinancial officer of Company's Manufacturing Marketing Finance and other importantaspects and structures of the Company and it's functioning.
5. Board Evaluation:
As per requirement of section 134(3)(p) of the Companies Act 2013 readwith Rule 8 (4) of Companies (Accounts) Rules 2014 and other applicable rules andregulations the Board has a formal mechanism for evaluating its performance annuallybased on the criteria laid down by Nomination and Remuneration Committee which includedattendance contribution at the meetings and otherwise independent judgment safeguardingof minority shareholders interest adherence to Code of Conduct and Business ethicsmonitoring of regulatory compliance risk assessment and review of Internal ControlSystems etc.
The Board carried out annual performance evaluation of the Board ofDirectors its Committees and Individual Directors. The performance of the Board wasshared with Board members and suggestions were evaluated in detail. Further the reports onperformance evaluation of the Individual Directors were reviewed by the Chairman of theBoard and based on the evaluation necessary changes in processes and policies weresuggested for having an effective Board.
6. Conservation of Energy Technology Absorption Foreign ExchangeEarnings and Outgo:
The information pertaining to conservation of energy technologyabsorption foreign exchange earnings and outgo as required under Section 134 (3)(m) ofthe Companies Act 2013 read with Rule 8(3) of the Companies (Accounts) Rules 2014 isfurnished in Annexure I' to this Report.
7. Business Risk Management:
The Company has formulated and implemented a Risk Management policy inaccordance with the provisions of the Companies Act 2013 in order to address thebusiness risks associated with the Company. Further the Company has adopted the riskmanagement system at various levels which inter alia covers business risk statutorycompliances and environmental risk.
The Risk Management system is continuously reviewed at appropriatelevel and corrective measures were taken wherever required. The Company has taken adequateinsurance policies to mitigate different kinds of risk. The Company periodically reviewsthe risk management practices and actions deployed by the management with respect to theidentification impact assessment monitoring mitigation and reporting of key risks whiletrying to achieve its business objectives.
8. Corporate Social Responsibility (CSR):
The provisions of the Section 135 read with Schedule VII of CompaniesAct 2013 are not applicable to the Company and hence the Company has neither developedany CSR Policy and nor implemented any CSR activities during the year.
9. Particulars of Loans Guarantees or Investments:
Details of loans guarantees and investments covered under Section 186of the Companies Act 2013 are stated in the notes to accounts of Financial Statementsforming part of this Annual Report.
10. Related Party Transactions (RPTs):
The contracts or arrangements with related parties which fall underthe scope of Section 134 (3)(h) and section 188 (1) of the Companies Act 2013 read withrule 8(2) of the Companies (Accounts) Rules 2014 are given in Annexure II' inForm AOC -2 and the same forms part of this Annual Report.
All Related Party Transactions are presented to the Audit Committee andthe Board. Omnibus approval is obtained for the transactions which are foreseen andrepetitive in nature. A statement of all related party transactions is presented beforethe Audit Committee on a quarterly basis specifying the nature value and terms andconditions of the transactions. Further the details of the transactions with RelatedParty are provided in the Company's financial statements in accordance with the AccountingStandards.
The policy on RPTs is hosted on the Company's website at www.nrbindustrialbearings.com.
11. Performance of Joint Ventures / Associate Companies:
As on March 312022 the Company has two Associate Companies viz.NRB-IBC Bearings Private Limited and NIBL-Korta Engineering Private Limited (formerlyknown as Korta Engineering (India) Private Limited).
NRB-IBC Bearings Private Limited (NIBC): The Company holds 35% equityof NIBC which is a joint venture with IBC Industrial Bearings and Components AGSwitzerland.
During the FY 2021-22 sales turnover of the Company was 1319.48 lacs ascompared to previous FYs turnover of Rs. 1038.81 lacs. Domestic Sales Turnover increasedfrom 582.12 Lacs to Rs. 831.90 lacs. Domestic market grew healthy. Export Sales TurnoverIncreased to 487.58 lacs from Rs.456.69 lacs. New customers were added in this financialyear which would help the company with favourable results in coming years.
NIBL-Korta Engineering Private Limited (formerly known as KortaEngineering (India) Private Limited) (Korta Engineering): The Company holds 35% equity ofKorta Engineering which was part of Korta group Spain.
During the FY 2021-2022 the Sales Turnover of the Company was 595.02lacs as compared to previous FYs turnover of Rs. 528.26 lacs. Domestic Sales Turnoverincreased from 509.50 lacs to Rs. 587.82 lacs. The Export Sales turnover Decreased from18.76 lacs to Rs. 7.20 lacs. New customers were added in this financial year which wouldhelp the company with favorable results in coming years.
12. Explanation or comments on qualifications reservations or adverseremarks or disclaimers made by the auditors and the practicing company secretary in theirreports and managements reply for the same:
There are no qualifications reservations or adverse remarks made bythe Statutory Auditors in their report on the Financial Statements of the Company for yearended March 31 2022. The notes to the accounts are self-explanatory tocomments/observations made by the Auditors in their report and do not require furtherexplanation.
There are no qualifications reservations or adverse remarks in theSecretarial Audit Report of the Company during the period of review.
13. Remuneration Policy:
In compliance with Section 178(3) of the Companies Act 2013 and on therecommendation of Nomination and Remuneration Committee the Board framed a Nomination andRemuneration policy which is generally in line with the existing industry practice andapplicable laws. The main object of the said policy is to select and appoint DirectorsKey Managerial Personnel and Senior Management and to ensure that the level andcomposition of remuneration is reasonable and sufficient to attract motivate and retainthe talent within the organization. Details of remuneration paid to Directors and KMP'sforms part of Corporate Governance Report which is annexed to this Annual Report.
The Nomination and Remuneration Policy is available on Company'swebsite at www.nrbindustrialbearings.com.
14. Meetings of the Board
Six meetings of the Board of Directors were held during the financialyear 2021-22 and the gap between two consecutive board meetings was within the limitsprescribed under the Companies Act 2013 and the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015. The details of the number of meetings held and attendedby each Director are provided in the Corporate Governance Report which forms part of thisAnnual Report.
15. Disclosure of composition of Audit committee and Vigil mechanism:
In accordance with Section 177 of the Companies Act 2013 the Companyhave constituted the Audit Committee. The Company Secretary acts as the secretary to thecommittee. The Audit Committee acts as a link between the statutory auditors internalauditors and the Board of Directors. The Audit Committee consists of four Directors; Mr.Ashish Chhugani as the Chairman Mr. Devesh Sahney Mr. Nikhilesh Panchal and Mr. SamratZaveri as the members of the Committee.
The details of all the Committees of the Board along with their termsof reference composition and meetings held during the year are provided in the Report onCorporate Governance which forms part of this Annual Report.
The Company has adopted a Vigil Mechanism / Whistle Blower Policy forDirectors and employees to report genuine concerns about unethical behavior actual orsuspected fraud or violation of the Company's Code of Conduct and to provide for adequatesafeguards against victimization of persons who may use such mechanism. The said policy ishosted on the website of the Company www.nrbindustrialbearinas.com.
The mechanism provides for addressing the complaints to Audit Committeeand direct access to the Chairperson of the Audit Committee in exceptional circumstances.
16. Credit Rating of Securities:
The Company has obtained following credit ratings for availing variousbank facilities:
1) Long term Bank Facilities- Cash Credit is CARE BBB- Stable and
2) Long term Bank Facilities- Working Capital Loan is CARE BBB- Stable.
17. Internal Control System and their adequacy:
The Company has an internal control system commensurate with the sizescale and complexity of its operations and well-documented procedures for variousprocesses which are periodically reviewed for changes warranted due to business needs.Internal Audit is conducted at regular time interval in the Company. The scope andauthority of the Internal Audit is defined by Audit committee. This system of internalcontrol facilitates effective compliance of Section 138 of the Act and the ListingRegulations.
To maintain its objectivity and independence the Internal Auditorreports to the Chairman of the Audit Committee of the Board. The Internal Auditor monitorsand evaluates the efficiency and adequacy of the internal control system with reference tothe Financial Statement. Audit committee evaluates the efficiency and adequacy of internalcontrol systems in the Company its compliance with operating systems accountingprocedures and policies. Based on the report of internal auditor process owners undertakecorrective actions in their respective areas and thereby strengthen the controls.Significant audit observations and corrective actions thereon are presented to the AuditCommittee. During the year under review no reportable material weakness in the operationwas observed. Regular audit and review processes ensure that such systems are reinforcedon an ongoing basis.
a) Statutory Auditors
The members of the Company at its 7th Annual General Meeting (AGM) heldon August 2 2018 have appointed M/s. Deloitte Haskins & Sells CharteredAccountants (Firm Registration No. ICAI 117365W) as the Statutory Auditors of the Companyfor a period of 5 (five) consecutive years commencing from the conclusion of 7th AGM uptothe conclusion of 12th AGM of the Company.
The Auditor's Report on the Standalone and Consolidated FinancialStatement of the Company for the Financial Year 2021-22 does not contain anyqualification reservation or adverse remark.
The Directors of your Company confirm that no instances of frauds ormis-management were reported by the Statutory Auditor under Section 143 (12) of theCompanies Act 2013.
b) Secretarial Auditor:
Pursuant to the provisions of section 204 of the Companies Act 2013read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules2014 the Company has appointed M/s. AJS & Associates Practicing Company Secretary toundertake the Secretarial Audit of the Company for the financial year 202122. The reporton Secretarial Audit is annexed as Annexure IV to this Report. TheSecretarial Audit Report does not contain any qualification reservations or adverseremarks.
19. Maintenance of Cost Records
The provisions of sub-section (1) of Section 148 of the Companies Act2013 pertaining to the maintenance of cost records are applicable to the Company andaccordingly such accounts and records are made and maintained by the Company.
20. Secretarial Standards
The Company has complied with the applicable Secretarial Standardsduring the Financial Year 2021-22.
21. Particulars of employees:
The statement under Section 134(3) (q) and Section 197 (12) ofCompanies Act 2013 read with Rule 5(1)of The Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014 forms part of this Report as Annexure V'.
22. Prevention of Sexual Harassment of women at workplace:
The Company is committed to provide healthy environment to allemployees and thus does not tolerate any discrimination or harassment in any form.
In line with the requirements of The Sexual Harassment of Women atWorkplace (Prevention Prohibition and Redressal) Act 2013 the Company has adopted theAnti-Harassment and Grievance Redressal Policy. The Company has Internal ComplaintsCommittee (ICC) at Group level to redress the complaints of sexual harassment. During theyear Company has not received any complaint of sexual harassment.
23. Listing with Stock Exchange
The Equity Shares of the Company are continue to be listed on the BSELimited ("BSE") and National Stock Exchange of India Limited ("NSE").The Company has paid Annual Listing Fees for the Financial Year 202122 to both the StockExchanges well within the specified time.
24. Extract of Annual Return:
The extract of Annual Return of the Company as on March 31 2022 isavailable on the Company's website and can be accessed at www.nrbindustrialbearings.com.
25. Corporate Governance Report:
As per the Regulation 15 of SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 (SEBI Regulations) based on the paid up equity sharecapital and net worth of the Company the corporate governance provisions mentioned inSEBI Regulations are not applicable to the Company. However the Company for stakeholders'information and as a good secretarial practice is providing certain information onvoluntary basis in Corporate Governance report which forms an integral part of thisreport.
26. Corporate Governance details as required under Schedule V of theCompanies Act 2013
The disclosures to be mentioned in pursuance of Section II of Part IIof Schedule V of the Act have been mentioned in the Corporate Governance Report.
27. Management Discussion and Analysis:
The Management Discussion and Analysis Report as required by ScheduleV of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 arealready dealt with in various sections of this Report.
The Management Discussion and Analysis Report is separately annexed andforms part of this report.
28. Annexures forming part of this Annual Report:
|Annexure No. Particulars |
|I Particulars of Conservation of Energy Technology Absorption and Foreign Exchange Earnings and Outgo |
|II Form no. AOC-2 -Related party transactions |
|III Form no. AOC-1 - Joint Ventures/ Associate company details |
|IV Secretarial Audit Report for the period under Review |
|V Particulars of Employees under Section 134(3) (q) and Section 197(12) of the Companies Act 2013. |
29. Cautionary Statement:
Statements in this Report Management Discussion and AnalysisCorporate Governance Notice to the Shareholders or elsewhere in this Annual Reportdescribing the Company's objectives projections estimates and expectations mayconstitute 'forward looking statement' within the meaning of applicable laws andregulations. Actual results might differ materially from those either expressed or impliedin the statement depending on the market conditions and circumstances.
The Company assumes no responsibility in respect of the forward lookingstatements which may undergo changes in future on the basis of subsequent developmentsinformation or events.
30. Directors Responsibility Statement:
Your Directors wish to inform Members that the Audited Accountscontaining Financial Statements for the Financial Year 2021-22 are in conformity with therequirements of the Companies Act 2013. Your Company's financial statements reflectfairly the form and substance of transactions carried out during the year and reasonablypresent the financial condition and results of operations.
In terms of provisions of Section 134(3) (c) of the Companies Act2013 your Directors further hereby confirms as under:
a) in the preparation of the annual accounts the applicable accountingstandards had been followed along with proper explanation relating to material departures;
b) the directors had selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the company at the end of thefinancial year and of the profit and loss of the company for that period;
c) the directors had taken proper and sufficient care for themaintenance of adequate accounting records in accordance with the provisions of this Actfor safeguarding the assets of the company and for preventing and detecting fraud andother irregularities;
d) the directors had prepared the annual accounts on a going concernbasis;
e) the directors have laid down internal financial controls to befollowed by the company and that such internal financial controls are adequate and wereoperating effectively and
f) Internal financial controls and compliance systems established andmaintained by the Company work performed by the internal statutory and secretarialauditors and external consultants including audit of internal financial controls overfinancial reporting by the statutory auditors and the reviews performed by management andthe relevant board committees including the audit committee the Board is of the opinionthat the Company's internal financial controls were adequate and effective during FY2021-22.
g) Company has adopted policies and procedures for ensuring the orderlyand efficient conduct of its business including adherence to Company's policies thesafeguarding of its assets the prevention and detection of frauds and errors theaccuracy and completeness of the accounting records and the timely preparation ofreliable financial information;
h) The directors had devised proper systems to ensure compliance withthe provisions of all applicable laws and that such systems were adequate and operatingeffectively.
Your Directors wish to place on records their sincere appreciation toall the Employees of the Company for the efforts efficient work management loyalservices commitment and dedication that developed the culture of professionalism. YourDirectors also thank and express gratitude to the Company's Customers Vendors andInstitutions. Your Directors also wish to express deep sense of gratitude to all ourBankers Central and State Governments and their departments and the local authorities forthe continued support.
Your Directors register their sincere appreciation to the Shareholdersof the Company for unstinted support and confidence reposed in the management of theCompany.
|On behalf of the Board || |
|For NRB Industrial Bearings Limited ||Devesh Singh Sahney |
|Place: Mumbai ||Chairman and Managing Director |
|Date : 24th May 2022 ||DIN : 00003956 |
Information as required under Section 134(3) (m) of the Companies Act2013 read with Rule 8 of the Companies (Accounts) Rules 2014 forming part of Directors'Report for the year ended March 31 2022:
a) Conservation of Energy:
i. Steps taken or impact on conservation of energy:
1. For all machines the air pressure setting of compressor was reducedfrom 6.1 to 5.8 bar thus saving about 1600 KWh/Month i.e. 19200 KWh/Year. The savingamounts to about Rs 1.56 Lakhs per year.
ii. Steps taken by the company for utilizing alternate sources ofenergy: NIL
iii. The capital investment on energy conservation equipment's: NIL
b) Additional Investments and proposals if any being implemented forreduction of consumption of energy: NIL
c) Impact of the measures at (a) and (b) above for reduction of energyconsumption and consequent impact on the cost of production of goods:
Power saving of Rs 1.56 lakhs per year
d) Total Energy Consumption and Energy Consumption per unit ofproduction as per Form A of the Annexure in respect of industries specified in theSchedule thereto:
|Sr. No. Parameter ||2021-22 ||Previous Year (2020-21) |
|Purchased || || |
|1 Purchased power units (in KWh) ||4419604 ||3832608 |
|2 Purchased power amount (Rs in lakhs) ||358.29 ||311.75 |
|3 Purchased power rate (in Rs per KWh) ||8.11 ||8.13 |
|4 Own power generation (in KWh) ||23100 ||14262 |
|Through Diesel Generator || || |
|5 Units generated (in KWh ) ||23100 ||14262 |
|6 Diesel oil consumed (in liters) ||6780 ||3207 |
|7 Power generation (KWh per liter) ||3.41 ||4.45 |
|Through Steam Turbine / Gener ||ator || |
|8 Propane gas consumption (in tons) ||14.59 ||12.76 |
|9 Tons of steel heat treated per ton of propane gas consumed. ||29.27 ||23.60 |
|10 Propane gas cost in Rs per ton ||88850 ||48290 |
|Consumption per unit production || || |
|11 Production value of bearings (in Rs Lakhs) ||6828 ||5646 |
|12 Electricity (purchased and own generation) consumed in KWh per Rs lakh value of bearings produced ||661 ||681.34 |
|13 HT furnace production (in ton) ||427.12 ||301.13 |
Form A: Power and Fuel Consumption:
1. Electricity: 4419604 KWh Units in FY 2021-22 as compared 3846870KWh Units in FY 2020-21.
a) Specific areas in which R&D is carried out by the Company:
1. New Product development - 54 no's of new products developed.
2. Development for special applications - Combined Axial & RadialThrust Bearings Thrust bearing and Needle bearing with 300 mm and 315 mm outside diameterrespectively. Range extension of cylindrical roller bearing with outside diameter of 180mm. Low friction ball bearings for motor applications and long life spherical bearing.
3. Development of new product lines - Needle bush bearings (16 sizes).
4. Equipment development - Single line shell manufacturing for bushbearings and a special design of hammering barrel for needle manufacturing to save timeand energy consumption.
b) Benefits derived as a result of the above R&D:
1. Developed 54 new products to enhance business in existing and newmarket segments existing and new customers in the domestic and export market.
2. Improved process product quality and performance.
c) Future Plan of action:
1. Extension of product range of full complement needle bush bearings.
2. Extension of product range of needle roller and roller thrustbearings.
3. Development of linear guides
4. Development of slewing ring bearings.
5. WIR housed units for food industry
6. Development of sensor bearings
7. Patent filing
d) Expenditure on R & D:
|1. Capital ||FY : 2021-22 ||NIL ||PY: 2020-21 : NIL |
|2. Recurring ||FY : 2021-22 ||Rs. 101.48 Lakhs ||PY: 2020-21 : Rs. 95.35 Lakhs |
|3. Total ||FY : 2021-22 ||Rs. 101.48 Lakhs ||PY: 2020-21 : Rs. 95.35 Lakhs |
| ||FY 2021-22- 1.46 % || || |
| ||PY 2020-21 - 1.69% || || |
Form B: Technology Absorption and Research & Development (R&D)
e) Technology absorption adaption and innovation:
a) Efforts in brief made towards technology absorption adaption andinnovation:
1. We absorbed the new technology in above mentioned "Form A:point 'a'.
2. Adopted technology in process automation assembly of cylindricalbearing needle bush and thrust bearing.
3. Technology adoption to design and develop needle bush bearings.
b) Benefits derived as a result of the above efforts e.g. Productimprovements cost reduction product Development import substitution etc.:
1. Process and product quality improvement through low cost automation.
2. New products like bush bearings for new / existing markets &customers
3. New design of thrust bearing cages to improve bearing performance.
4. Product validation through life testing rig.
5. Import substitution for a customer by cam follower ring.
c) in case of imported technology (imported during the last three yearsreckoned from the beginning of the financial year): NIL
Exchange earnings and outgo: -
Total Foreign Exchange earnings: FY 2021-22 Rs. 2175.30 Lakhs PY : Rs.1585.20 Lakhs Total Foreign Exchange outgo: FY 2021-22 Rs. 202.42 Lakhs PY : Rs. 112.26Lakhs
|l ||On behalf of the Board |
| ||For NRB Industrial Bearings Limited |
|Place: Mumbai ||Devesh Singh Sahney Chairman and Managing Director |
|Date : 24th May 2022 ||(DIN:00003956) |