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NRB Bearings

NSEI:NRBBEARING
Snowflake Description

Excellent balance sheet with proven track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NRBBEARING
NSEI
₹16B
Market Cap
  1. Home
  2. IN
  3. Capital Goods
Company description

NRB Bearings Limited manufactures, sells, and exports ball and roller bearings to original equipment manufacturers in the automotive sector. The last earnings update was 19 days ago. More info.


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  • NRB Bearings has significant price volatility in the past 3 months.
NRBBEARING Share Price and Events
7 Day Returns
-4%
NSEI:NRBBEARING
-2.3%
IN Machinery
-0.7%
IN Market
1 Year Returns
-11.8%
NSEI:NRBBEARING
-15.6%
IN Machinery
-1.6%
IN Market
NRBBEARING Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
NRB Bearings (NRBBEARING) -4% -6.7% -16.6% -11.8% 41.3% 97.8%
IN Machinery -2.3% 3.6% -4.5% -15.6% 17.1% 63.3%
IN Market -0.7% 3.6% 0.5% -1.6% 32.8% 41.7%
1 Year Return vs Industry and Market
  • NRBBEARING outperformed the Machinery industry which returned -15.6% over the past year.
  • NRBBEARING underperformed the Market in India which returned -1.6% over the past year.
Price Volatility
NRBBEARING
Industry
5yr Volatility vs Market

Value

 Is NRB Bearings undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of NRB Bearings to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for NRB Bearings.

NSEI:NRBBEARING Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Extrapolated from most recent financials. See below
Discount Rate (Cost of Equity) See below 17.2%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:NRBBEARING
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Machinery Unlevered Beta Simply Wall St/ S&P Global 1.06
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.063 (1 + (1- 35%) (16.58%))
1.119
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.12
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.119 * 8.6%)
17.17%

Discounted Cash Flow Calculation for NSEI:NRBBEARING using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for NRB Bearings is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:NRBBEARING DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 17.17%)
2019 1,155.05 Est @ 10.52% 985.77
2020 1,266.27 Est @ 9.63% 922.30
2021 1,380.31 Est @ 9.01% 858.02
2022 1,498.58 Est @ 8.57% 795.01
2023 1,622.41 Est @ 8.26% 734.56
2024 1,753.00 Est @ 8.05% 677.37
2025 1,891.48 Est @ 7.9% 623.76
2026 2,038.92 Est @ 7.79% 573.83
2027 2,196.34 Est @ 7.72% 527.55
2028 2,364.80 Est @ 7.67% 484.76
Present value of next 10 years cash flows ₹7,182.92
NSEI:NRBBEARING DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹2,364.80 × (1 + 7.55%) ÷ (17.17% – 7.55%)
₹26,430.51
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹26,430.51 ÷ (1 + 17.17%)10
₹5,418.00
NSEI:NRBBEARING Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹7,182.92 + ₹5,418.00
₹12,600.93
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹12,600.93 / 96.92
₹130.01
NSEI:NRBBEARING Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in NSEI:NRBBEARING represents 0.99475x of BSE:530367
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.99475x
Value per Share
(Listing Adjusted, INR)
= Value per Share (INR) x Listing Adjustment Factor
= ₹ 130.01 x 0.99475
₹129.33
Value per share (INR) From above. ₹129.33
Current discount Discount to share price of ₹160.85
= -1 x (₹160.85 - ₹129.33) / ₹129.33
-24.4%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of NRB Bearings is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for NRB Bearings's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are NRB Bearings's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:NRBBEARING PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in INR ₹11.17
BSE:530367 Share Price ** BSE (2019-06-14) in INR ₹161.7
India Machinery Industry PE Ratio Median Figure of 146 Publicly-Listed Machinery Companies 15.04x
India Market PE Ratio Median Figure of 2,826 Publicly-Listed Companies 15.85x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of NRB Bearings.

NSEI:NRBBEARING PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= BSE:530367 Share Price ÷ EPS (both in INR)

= 161.7 ÷ 11.17

14.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NRB Bearings is good value based on earnings compared to the IN Machinery industry average.
  • NRB Bearings is good value based on earnings compared to the India market.
Price based on expected Growth
Does NRB Bearings's expected growth come at a high price?
Raw Data
NSEI:NRBBEARING PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
India Machinery Industry PEG Ratio Median Figure of 25 Publicly-Listed Machinery Companies 1.63x
India Market PEG Ratio Median Figure of 522 Publicly-Listed Companies 1.33x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for NRB Bearings, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on NRB Bearings's assets?
Raw Data
NSEI:NRBBEARING PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in INR ₹48.57
BSE:530367 Share Price * BSE (2019-06-14) in INR ₹161.7
India Machinery Industry PB Ratio Median Figure of 168 Publicly-Listed Machinery Companies 1.36x
India Market PB Ratio Median Figure of 3,653 Publicly-Listed Companies 1x
NSEI:NRBBEARING PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= BSE:530367 Share Price ÷ Book Value per Share (both in INR)

= 161.7 ÷ 48.57

3.33x

* Primary Listing of NRB Bearings.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NRB Bearings is overvalued based on assets compared to the IN Machinery industry average.
X
Value checks
We assess NRB Bearings's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Machinery industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Machinery industry average (and greater than 0)? (1 check)
  5. NRB Bearings has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is NRB Bearings expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.2%
Expected Machinery industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is NRB Bearings expected to grow at an attractive rate?
  • Unable to compare NRB Bearings's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare NRB Bearings's earnings growth to the India market average as no estimate data is available.
  • Unable to compare NRB Bearings's revenue growth to the India market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NSEI:NRBBEARING Future Growth Rates Data Sources
Data Point Source Value (per year)
India Machinery Industry Earnings Growth Rate Market Cap Weighted Average 12.2%
India Machinery Industry Revenue Growth Rate Market Cap Weighted Average 11.8%
India Market Earnings Growth Rate Market Cap Weighted Average 16.6%
India Market Revenue Growth Rate Market Cap Weighted Average 9.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:NRBBEARING Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:NRBBEARING Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-03-31 1,288
NSEI:NRBBEARING Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2019-03-31 9,649 1,082
2018-03-31 8,551 1,335 907
2017-03-31 7,255 851 517

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if NRB Bearings is high growth as no earnings estimate data is available.
  • Unable to determine if NRB Bearings is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:NRBBEARING Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from NRB Bearings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:NRBBEARING Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-03-31 13.29 13.29 13.29 1.00
NSEI:NRBBEARING Past Financials Data
Date (Data in INR Millions) EPS *
2019-03-31 11.17
2018-03-31 9.36
2017-03-31 5.33

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if NRB Bearings will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess NRB Bearings's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
NRB Bearings has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has NRB Bearings performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare NRB Bearings's growth in the last year to its industry (Machinery).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • NRB Bearings has delivered over 20% year on year earnings growth in the past 5 years.
  • NRB Bearings's 1-year earnings growth is less than its 5-year average (19.3% vs 22.5%)
  • NRB Bearings's earnings growth has not exceeded the IN Machinery industry average in the past year (19.3% vs 20.7%).
Earnings and Revenue History
NRB Bearings's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from NRB Bearings Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:NRBBEARING Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 9,648.50 1,082.20 1,433.10
2018-03-31 8,550.70 907.10 1,509.30
2017-03-31 7,255.40 516.50 1,351.30
2016-03-31 6,749.37 419.98 1,296.60
2015-03-31 6,703.09 532.31 1,160.49
2014-03-31 6,074.80 329.84 1,565.55
2013-03-31 5,925.56 471.83 1,550.04

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • NRB Bearings has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • NRB Bearings used its assets more efficiently than the IN Machinery industry average last year based on Return on Assets.
  • NRB Bearings has improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess NRB Bearings's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Machinery industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
NRB Bearings has a total score of 4/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is NRB Bearings's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up NRB Bearings's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • NRB Bearings is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • NRB Bearings's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of NRB Bearings's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from NRB Bearings Company Filings, last reported 2 months ago.

NSEI:NRBBEARING Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 4,798.90 2,599.00 447.80
2018-03-31 3,856.50 2,191.80 225.20
2017-03-31 3,094.60 2,780.90 226.50
2016-03-31 2,832.38 3,106.67 320.32
2015-03-31 2,570.96 3,273.12 280.04
2014-03-31 2,214.71 3,162.42 57.62
2013-03-31 1,996.50 2,723.35 33.06
  • NRB Bearings's level of debt (54.2%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (142.7% vs 54.2% today).
  • Debt is well covered by operating cash flow (51.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 10.1x coverage).
X
Financial health checks
We assess NRB Bearings's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. NRB Bearings has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is NRB Bearings's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.61%
Current annual income from NRB Bearings dividends.
If you bought ₹2,000 of NRB Bearings shares you are expected to receive ₹32 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • NRB Bearings's pays a higher dividend yield than the bottom 25% of dividend payers in India (0.53%).
  • NRB Bearings's dividend is below the markets top 25% of dividend payers in India (2.04%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:NRBBEARING Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
India Machinery Industry Average Dividend Yield Market Cap Weighted Average of 99 Stocks 1.5%
India Market Average Dividend Yield Market Cap Weighted Average of 1449 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.5%
India Top 25% Dividend Yield 75th Percentile 2%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:NRBBEARING Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2020-03-31
NSEI:NRBBEARING Past Annualized Dividends Data
Date (Data in ₹) Dividend per share (annual) Avg. Yield (%)
2019-05-29 2.600 1.545
2018-05-21 2.400 1.338
2018-03-20 2.800 1.705
2017-02-13 1.400 1.072
2016-03-10 1.400 1.201
2015-05-18 1.500 1.245
2014-08-13 1.100 0.861
2013-05-29 1.700 3.954
2012-08-03 2.000 5.532
2011-06-07 2.000 4.823
2011-05-30 2.000 3.856
2010-05-24 1.000 1.975

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • NRB Bearings has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but NRB Bearings only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of NRB Bearings's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (4.3x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess NRB Bearings's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can NRB Bearings afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. NRB Bearings has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of NRB Bearings's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Harshbeena Zaveri
COMPENSATION ₹38,565,022
AGE 58
TENURE AS CEO 8.7 years
CEO Bio

Mrs. Harshbeena Sahney Zaveri, B.Com, CA, CPA, A.B(USA), has been Vice Chairman of NRB Bearings Ltd. since May 24, 2016 and as its Managing Director since October 1, 2010 and also serves as the President. Mrs. Zaveri has 26 years of experience in the industry at NRB Bearings Ltd where she has held positions in the areas of Corporate Planning, Purchase and Imports, Marketing. Mrs. Zaveri serves as the Chairman at SNL Bearings Ltd. She served as an Executive & Non Independent Director of NRB Bearings Ltd. She serves as a Director of NRB Bearings (Thailand) Ltd. She has been Non-Executive Director of NRB Industrial Bearings Limited since October 12, 2011. In December 2005, she was awarded the best CEO by the Quality circle Forum of India for her contribution for TPM and the Quality movement. In 2009 she received from Women Leaders in India (WIL) award as Leader in Manufacturing Sector. She has also been ranked amongst most powerful women in Indian business by various magazines during 2011 and 2013. She also holds the respected position of president and member of various organizations across the Globe. In addition to her organizational responsibilities she is actively engaged with the Ball and Roller Bearing Manufacturers Association (BRBMA) as Past President and Executive Committee Member, Automotive Component Manufacturer's Association of India (ACMA) as Executive Committee Member, CII as Executive Member of Western Region Council and Maharashtra State Council, TPM Club in India as Board Member, Indo American Chamber of Commerce (IACC)as Member of Western India Council and Wellesley College, USA, Business Leadership Council as Member of President's International Committee. She has graduated from Wellesley College, USA and holds a degree in Education from Bombay University.

CEO Compensation
  • Harshbeena's compensation has increased by more than 20% in the past year whilst earnings grew less than 20%.
  • Harshbeena's remuneration is higher than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the NRB Bearings management team in years:

7.3
Average Tenure
62
Average Age
  • The average tenure for the NRB Bearings management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Harshbeena Zaveri

TITLE
Vice Chairman
COMPENSATION
₹39M
AGE
58
TENURE
8.7 yrs

Tanushree Bagrodia

TITLE
CFO & VP of IT
COMPENSATION
₹13M
TENURE
5.8 yrs

Satish Rangani

TITLE
Senior VP & Executive Director
COMPENSATION
₹8M
AGE
70

Manoj Solanki

TITLE
Chief Operating Officer
AGE
50
TENURE
1.8 yrs

Arvinder Kohli

TITLE
Vice President of Technology
COMPENSATION
₹1M
AGE
62

Shruti Joshi

TITLE
Compliance Officer
AGE
39
TENURE
0.8 yrs

Herman Kamping

TITLE
Vice President of International Business Development
COMPENSATION
₹10M
AGE
62
TENURE
12 yrs

Sanjeev Parida

TITLE
Senior Vice President of HR

Prakash Banait

TITLE
Head of Application Engineering

S. Singhi

TITLE
Vice President of Personnel
COMPENSATION
₹4M
AGE
65
TENURE
27.9 yrs
Board of Directors Tenure

Average tenure and age of the NRB Bearings board of directors in years:

3.3
Average Tenure
54
Average Age
  • The tenure for the NRB Bearings board of directors is about average.
Board of Directors

Harshbeena Zaveri

TITLE
Vice Chairman
COMPENSATION
₹39M
AGE
58
TENURE
3.1 yrs

Satish Rangani

TITLE
Senior VP & Executive Director
COMPENSATION
₹8M
AGE
70
TENURE
6.7 yrs

Tashwinder Singh

TITLE
Non Executive & Independent Director
COMPENSATION
₹1M
AGE
48
TENURE
6.1 yrs

Devesh Sahney

TITLE
Non-Executive & Non Independent Director
COMPENSATION
₹617K
AGE
50
TENURE
18.1 yrs

Ashank Desai

TITLE
Non-Executive & Independent Director
COMPENSATION
₹970K
AGE
67
TENURE
3.3 yrs

Rustom Desai

TITLE
Additional Director
COMPENSATION
₹763K
AGE
47
TENURE
2.4 yrs

R. Vishakha

TITLE
Non Executive & Independent Director
AGE
54
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by NRB Bearings insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
14. Jun 19 Buy Harshbeena Zaveri Individual 10. Jun 19 13. Jun 19 105,005 ₹168.12 ₹17,585,346
10. Jun 19 Buy Harshbeena Zaveri Individual 06. Jun 19 07. Jun 19 67,136 ₹171.28 ₹11,457,673
07. Jun 19 Buy Aziz Zaveri Individual 03. Jun 19 06. Jun 19 13,379 ₹170.90 ₹2,276,679
06. Jun 19 Buy Harshbeena Zaveri Individual 03. Jun 19 04. Jun 19 80,930 ₹171.92 ₹13,862,471
15. Jan 19 Buy Bhupinder Sahney Individual 16. Nov 17 25. Oct 18 14,930 ₹163.20 ₹2,391,450
30. Oct 18 Buy Aziz Zaveri Individual 23. Oct 18 25. Oct 18 3,526 ₹153.21 ₹539,735
30. Oct 18 Buy Harshbeena Zaveri Individual 25. Oct 18 25. Oct 18 8,664 ₹155.70 ₹1,348,972
25. Oct 18 Buy Harshbeena Zaveri Individual 24. Oct 18 24. Oct 18 10,034 ₹152.92 ₹1,534,411
24. Oct 18 Buy Harshbeena Zaveri Individual 22. Oct 18 23. Oct 18 14,470 ₹156.34 ₹2,230,933
22. Oct 18 Buy Harshbeena Zaveri Individual 19. Oct 18 19. Oct 18 2,192 ₹157.03 ₹344,203
17. Oct 18 Buy Harshbeena Zaveri Individual 15. Oct 18 15. Oct 18 1,862 ₹156.56 ₹291,519
10. Oct 18 Buy Harshbeena Zaveri Individual 09. Oct 18 09. Oct 18 4,725 ₹156.04 ₹737,295
05. Oct 18 Buy Harshbeena Zaveri Individual 05. Sep 18 28. Sep 18 5,193 ₹170.15 ₹822,820
31. Jul 18 Buy Aziz Zaveri Individual 17. Jul 18 23. Jul 18 6,000 ₹157.55 ₹945,311
31. Jul 18 Buy Harshbeena Zaveri Individual 20. Jul 18 23. Jul 18 2,930 ₹154.55 ₹452,830
X
Management checks
We assess NRB Bearings's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. NRB Bearings has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

What Kind Of Investor Owns Most Of NRB Bearings Limited (NSE:NRBBEARING)?

As Nassim Nicholas Taleb said, 'Don’t tell me what you think, tell me what you have in your portfolio.' NRB Bearings is a smaller company with a market capitalization of ₹16b, so it may still be flying under the radar of many institutional investors. … See our latest analysis for NRB Bearings NSEI:NRBBEARING Ownership Summary, June 10th 2019 What Does The Institutional Ownership Tell Us About NRB Bearings? … Private Company Ownership We can see that Private Companies own 35%, of the shares on issue.

Simply Wall St -

Why I Like NRB Bearings Limited (NSE:NRBBEARING)

In the case of NRBBEARING, it is a financially-sound , dividend-paying company with a an impressive track record of performance. … Excellent balance sheet with proven track record and pays a dividend NRBBEARING has a strong track record of performance. … The intrinsic value infographic in our free research report helps visualize whether NRBBEARING is currently mispriced by the market.

Simply Wall St -

A Look At The Intrinsic Value Of NRB Bearings Limited (NSE:NRBBEARING)

In this article we are going to estimate the intrinsic value of NRB Bearings Limited (NSE:NRBBEARING) by taking the expected future cash flows and discounting them to their present value. … A DCF is all about the idea that a dollar in the future is less valuable than a dollar today, so we need to discount the sum of these future cash flows to arrive at a present value estimate: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (₹, Millions) ₹1.19k ₹1.38k ₹1.55k ₹1.73k ₹1.91k ₹2.09k ₹2.27k ₹2.46k ₹2.66k ₹2.88k Growth Rate Estimate Source Est @ 18.53% Est @ 15.23% Est @ 12.93% Est @ 11.32% Est @ 10.19% Est @ 9.4% Est @ 8.84% Est @ 8.45% Est @ 8.18% Est @ 7.99% Present Value (₹, Millions) Discounted @ 16.97% ₹1.02k ₹1.01k ₹971.49 ₹924.55 ₹870.94 ₹814.56 ₹757.97 ₹702.81 ₹650.02 ₹600.15 Present Value of 10-year Cash Flow (PVCF)= ₹8.32b "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … Terminal Value (TV) = FCF2029 × (1 + g) ÷ (r – g) = ₹2.9b × (1 + 7.6%) ÷ (17% – 7.6%) = ₹33b Present Value of Terminal Value (PVTV) = TV / (1 + r)10 = ₹₹33b ÷ ( 1 + 17%)10 = ₹6.85b The total value, or equity value, is then the sum of the present value of the future cash flows, which in this case is ₹15.17b.

Simply Wall St -

Do NRB Bearings's (NSE:NRBBEARING) Earnings Warrant Your Attention?

How Quickly Is NRB Bearings Increasing Earnings Per Share. … If you believe that markets are even vaguely efficient, then over the long term you'd expect a company's share price to follow its earnings per share (EPS). … I like to take a look at earnings before interest and (EBIT) tax margins, as well as revenue growth, to get another take on the quality of the company's growth.

Simply Wall St -

Have Insiders Been Selling NRB Bearings Limited (NSE:NRBBEARING) Shares This Year?

As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. … But insiders sold 1.0m shares worth ₹166m

Simply Wall St -

Is NRB Bearings Limited's (NSE:NRBBEARING) Balance Sheet A Threat To Its Future?

However, an important fact which most ignore is: how financially healthy is the business? … Evaluating financial health as part of your investment thesis is. … We'll look at some basic checks that can form a snapshot the company’s financial strength.

Simply Wall St -

NRB Bearings Limited (NSE:NRBBEARING): A Fundamentally Attractive Investment

Help shape the future of investing tools and you could win a $250 gift card! … As an investor, I look for investments which does not compromise one fundamental factor for another. … By this I mean, I look at stocks holistically, from their financial health to their future outlook.

Simply Wall St -

A Close Look At NRB Bearings Limited’s (NSE:NRBBEARING) 30% ROCE

Specifically, we're going to calculate its Return On Capital Employed (ROCE), in the hopes of getting some insight into the business. … What is Return On Capital Employed (ROCE)? … Analysts use this formula to calculate return on capital employed:

Simply Wall St -

What Kind Of Investor Owns Most Of NRB Bearings Limited (NSE:NRBBEARING)?

NRB Bearings is not a large company by global standards. … Our analysis of the ownership of the company, below, shows that. … Check out our latest analysis for NRB Bearings

Simply Wall St -

Have Insiders Been Selling NRB Bearings Limited (NSE:NRBBEARING) Shares?

We often see insiders buying up shares in companies that perform well over the long term. … So before you buy or sell NRB Bearings Limited (NSE:NRBBEARING), you may well want to know whether insiders have been buying or selling. … All up, insiders sold more shares in NRB Bearings than they bought, over the last year.

Simply Wall St -

Company Info

Description

NRB Bearings Limited manufactures, sells, and exports ball and roller bearings to original equipment manufacturers in the automotive sector. It offers drawn cup needle and cylindrical roller bearings, polyamide and steel needle bearing cages, full-complement needle bearings, formed strip cages for heavy gear boxes, special ball bearings, tapered and spherical roller bearings, planetary shafts and other special pins, crank pins, thrust bearings, and rocker arm bearings, as well as other automobile components. The company was formerly known as Needle Roller Bearing Company Limited and changed its name to NRB Bearings Limited in 1990. NRB Bearings Limited was founded in 1965 and is based in Mumbai, India.

Details
Name: NRB Bearings Limited
NRBBEARING
Exchange: NSEI
Founded: 1965
₹15,672,384,420
96,922,600
Website: http://www.nrbbearings.com
Address: NRB Bearings Limited
Dhannur, 15,
Sir P.M Road,
Mumbai,
Maharashtra, 400001,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
BSE 530367 Equity Shares Mumbai Stock Exchange IN INR 08. Mar 2000
NSEI NRBBEARING Equity Shares National Stock Exchange of India IN INR 08. Mar 2000
Number of employees
Current staff
Staff numbers
0
NRB Bearings employees.
Industry
Industrial Machinery
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/17 12:52
End of day share price update: 2019/06/14 00:00
Last estimates confirmation: 2019/06/04
Last earnings filing: 2019/05/29
Last earnings reported: 2019/03/31
Last annual earnings reported: 2019/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.