NRBBEARING - NRB Bearings
π’ Recent Corporate Announcements
NRB Bearing reported a robust Q3 FY26 with revenue growing 18% YoY to βΉ328 crores and PAT (before exceptional items) jumping 44% to βΉ38 crores. The company is strategically diversifying into high-margin segments, including a 75% JV with Italy's Unitec for industrial bearings and the acquisition of Mahant Toolroom to enter the aerospace sector. EBITDA margins improved to 19.5%, reflecting a superior product mix and operational efficiency. Management is actively optimizing working capital, having reduced inventory from 130 days to 110 days with a target of 90-100 days.
- Q3 FY26 Revenue increased 18% YoY to βΉ328 crores; 9M FY26 PAT rose 27% to βΉ112 crores.
- EBITDA margins expanded to 19.5% from approximately 17-18% in the previous year.
- Acquired Mahant Toolroom to fast-track entry into Aerospace with an initial βΉ25 crore order book.
- Established a 75% JV with Unitec (Italy) for industrial bearings with assured off-take commitments.
- Maintained CRISIL AA- credit rating, reflecting strong financial discipline and low leverage.
NRB Bearings Limited has officially released the audio recording of its Q3FY2025-26 earnings conference call held on February 13, 2026. The recording provides management's detailed commentary on the company's financial performance and operational updates for the quarter. Investors can access the audio via the company's investor relations website. A written transcript of the proceedings is expected to be filed with the stock exchanges shortly.
- Audio recording for Q3FY2025-26 earnings call made available on February 13, 2026
- Recording accessible via the company's official investor update portal
- Compliance filing under Regulation 30 of SEBI (LODR) Regulations, 2015
- Written transcript to be uploaded and shared with exchanges in due course
NRB Bearing Limited has announced a second interim dividend of Rs 3.20 per equity share (160% of face value) for the financial year 2025-26. The record date to determine eligible shareholders is February 13, 2026. The company has issued detailed guidelines regarding Tax Deducted at Source (TDS), which will be applied at 10% for residents with a valid PAN and 20% for those without. Shareholders must submit relevant tax exemption documents by February 13, 2026, to ensure correct tax treatment.
- Second interim dividend of Rs 3.20 per share (160% of face value Rs 2.00) declared for FY 2025-26.
- Record date for determining dividend eligibility is fixed as February 13, 2026.
- TDS of 10% applicable for resident shareholders with valid PAN; 20% for those without or with invalid PAN.
- No TDS for resident individual shareholders if the total dividend for FY 2025-26 does not exceed Rs 10,000.
- Deadline for submitting tax-related declarations (Form 15G/15H/TRC) is February 13, 2026, by 5:00 PM.
NRB Bearings reported a strong Q3 FY26 with consolidated revenue growing 18% YoY to βΉ328 crore and PAT (before exceptional items) rising 44% to βΉ38 crore. The company announced an interim dividend of βΉ3.20 per share and a strategic entry into the aerospace segment via the acquisition of Mahant Tool Room. Additionally, a JV with Unitec Group for industrial bearings and a 17-25% capacity expansion plan were unveiled to support a long-term organic revenue target of βΉ2,500 crore over five years.
- Consolidated Revenue grew 18% YoY to βΉ328 crore; EBITDA margins expanded 140 bps to 19.3%
- PAT (before exceptional items) increased 44% YoY to βΉ38 crore; Interim dividend of βΉ3.20 per share declared
- Strategic entry into aerospace through the acquisition of Mahant Tool Room and a JV with Unitec Group for industrial bearings
- Planned capacity expansion of 17-25% across all plants to support a βΉ2,500 crore 5-year revenue target
- Appointment of Vineet Goel as the new CFO effective February 11, 2026
NRB Bearing reported a strong performance for Q3 FY26, with standalone revenue growing 15.3% YoY to βΉ296.32 crore. Net profit increased significantly by 31.6% YoY to βΉ23.97 crore, even after accounting for exceptional items related to statutory labor codes and tax reversals. The board declared a second interim dividend of βΉ3.20 per share (160%) and announced major leadership transitions, including a new Chairman and CFO. Furthermore, the company is expanding through capacity enhancement and the formation of a new Joint Venture.
- Standalone Revenue from operations increased 15.3% YoY to βΉ296.32 crore in Q3 FY26.
- Net Profit (PAT) rose 31.6% YoY to βΉ23.97 crore compared to βΉ18.21 crore in the previous year.
- Declared a second interim dividend of βΉ3.20 per equity share with a Record Date of February 13, 2026.
- Appointed Vineet Goel as CFO and Tashwinder Singh as the new Chairman effective March 30, 2026.
- Approved capital expenditure for capacity enhancement and the incorporation of a new Joint Venture company.
NRB Bearing reported a robust performance for Q3 FY26, with revenue from operations increasing 15.3% YoY to βΉ29,632 lakhs. Net profit grew significantly by 31.6% YoY to βΉ2,397 lakhs, supported by operational efficiencies despite a βΉ703 lakh exceptional loss related to labor codes and GST reversals. The company rewarded shareholders with a second interim dividend of βΉ3.20 per share (160%). Additionally, the board approved significant management changes, capacity expansion plans, and the formation of a new joint venture.
- Revenue from operations grew 15.3% YoY to βΉ29,632 lakhs in Q3 FY26 compared to βΉ25,708 lakhs in Q3 FY25.
- Net Profit (PAT) increased to βΉ2,397 lakhs, up 31.6% from βΉ1,821 lakhs in the corresponding quarter of the previous year.
- Declared a second interim dividend of βΉ3.20 per equity share (160% of face value) with a record date of February 13, 2026.
- Tashwinder Singh appointed as Chairman effective March 30, 2026, following the retirement of Ashank Desai.
- Board approved capital investment for capacity enhancement and the incorporation of a new Joint Venture company.
NRB Bearing reported a strong performance for Q3 FY26, with standalone revenue increasing 15.3% YoY to βΉ296.32 crore. Net profit grew significantly by 31.6% YoY to βΉ23.97 crore, even after accounting for an exceptional loss of βΉ7.03 crore. The company rewarded shareholders with a second interim dividend of βΉ3.20 per share (160%). Major leadership transitions were also announced, including a new CFO and a Chairman-elect, alongside plans for capacity expansion and a new joint venture.
- Standalone Revenue from operations grew 15.3% YoY to βΉ29,632 lakhs for the quarter ended Dec 31, 2025.
- Net Profit (PAT) increased 31.6% YoY to βΉ2,397 lakhs compared to βΉ1,821 lakhs in the previous year's quarter.
- Declared a second interim dividend of βΉ3.20 per equity share (160%) with a record date of Feb 13, 2026.
- Appointed Vineet Goel as CFO effective Feb 11, 2026, and Tashwinder Singh as Chairman effective March 30, 2026.
- Board approved capital investment for capacity enhancement and the incorporation of a new Joint Venture company.
NRB Bearing reported a strong Q3 FY26 performance with revenue growing 15.3% YoY to βΉ296.32 crore and PAT increasing 31.6% to βΉ23.97 crore. The board declared a second interim dividend of βΉ3.20 per share (160% of face value) with a record date of February 13, 2026. Significant leadership changes were announced, including the appointment of Tashwinder Singh as the new Chairman effective March 30, 2026, and Vineet Goel as the new CFO. Additionally, the company is pursuing growth through capital investments for capacity expansion and the formation of a new Joint Venture.
- Revenue from operations grew 15.3% YoY to βΉ296.32 crore for the quarter ended December 31, 2025
- Net Profit (PAT) increased by 31.6% YoY to βΉ23.97 crore, despite an exceptional loss of βΉ7.03 crore
- Declared a second interim dividend of βΉ3.20 per equity share (160% on face value of βΉ2)
- Management transition: Tashwinder Singh to succeed Ashank Desai as Chairman on March 30, 2026
- Board approved capital investment for capacity enhancement and incorporation of a new Joint Venture
NRB Bearing reported a strong financial performance for the quarter ended December 31, 2025, with standalone revenue rising 15.3% YoY to βΉ29,632 lakhs. Net profit increased significantly by 31.6% YoY to βΉ2,397 lakhs, even after accounting for a net exceptional loss of βΉ703 lakhs related to statutory impacts and insurance claims. The company rewarded shareholders with a second interim dividend of βΉ3.20 per share (160%). Major leadership changes were also announced, including a new Chairman and CFO, alongside plans for capacity expansion and a new joint venture.
- Standalone Revenue from operations grew 15.3% YoY to βΉ29,632 lakhs for Q3 FY26.
- Net Profit (PAT) increased 31.6% YoY to βΉ2,397 lakhs, with EPS rising to βΉ2.47 from βΉ1.88.
- Declared a second interim dividend of βΉ3.20 per equity share (160%) with a record date of February 13, 2026.
- Appointed Mr. Vineet Goel as CFO and Mr. Tashwinder Singh as the incoming Chairman effective March 30, 2026.
- Board approved capital investment for capacity enhancement and the incorporation of a new Joint Venture Company.
NRB Bearing reported a strong performance for Q3 FY26, with standalone revenue growing 15.3% YoY to βΉ296.32 crore. Net profit increased by 31.6% YoY to βΉ23.97 crore, despite a net exceptional loss of βΉ7.03 crore primarily due to the statutory impact of new labour codes. The company declared a second interim dividend of βΉ3.20 per share (160% of face value) with a record date of February 13, 2026. Significant management changes were announced, including a new Chairman and CFO, alongside plans for capacity expansion and a new joint venture.
- Standalone Revenue from operations grew 15.3% YoY to βΉ296.32 crore in Q3 FY26.
- Net Profit (PAT) increased 31.6% YoY to βΉ23.97 crore, up from βΉ18.21 crore in the previous year's quarter.
- Declared a 2nd interim dividend of βΉ3.20 per equity share (160%) for FY 2025-26 with a record date of Feb 13, 2026.
- Board approved capital investment for capacity enhancement and the incorporation of a new Joint Venture Company.
- Management transition: Tashwinder Singh appointed as Chairman (eff. March 30, 2026) and Vineet Goel as CFO (eff. Feb 11, 2026).
NRB Bearing has declared a second interim dividend of βΉ3.20 per equity share (160%) for FY26, with a record date of February 13, 2026. The company reported a standalone revenue of βΉ29,632 lakhs for Q3 FY26, a 15.2% increase year-on-year. Net profit for the quarter stood at βΉ2,397 lakhs, up 31.6% from βΉ1,821 lakhs in the previous year. Additionally, the board approved significant management changes, capital investments for capacity enhancement, and the incorporation of a new Joint Venture.
- Declared 2nd interim dividend of βΉ3.20 per share (160% of FV βΉ2) with record date Feb 13, 2026.
- Standalone Revenue from operations grew 15.2% YoY to βΉ29,632 lakhs in Q3 FY26.
- Standalone Profit After Tax (PAT) increased 31.6% YoY to βΉ2,397 lakhs.
- Appointed Mr. Tashwinder Singh as Chairman (eff. March 30, 2026) and Mr. Vineet Goel as CFO (eff. Feb 11, 2026).
- Approved capital investment for capacity enhancement and incorporation of a new Joint Venture company.
NRB Bearing has declared a second interim dividend of βΉ3.20 per share (160%) for FY26, with the record date set for February 13, 2026. The company reported a strong Q3 FY26 performance with standalone revenue growing 15.3% YoY to βΉ296.32 crore. Net profit for the quarter rose 31.6% YoY to βΉ23.97 crore, even after accounting for a net exceptional loss of βΉ7.03 crore related to insurance claims and statutory impacts. Alongside results, the board approved capacity expansion plans, a new joint venture, and appointed a new Chairman and CFO.
- Declared 2nd interim dividend of βΉ3.20 per equity share (160% of face value βΉ2)
- Standalone Revenue from operations increased 15.3% YoY to βΉ296.32 crore in Q3 FY26
- Net Profit (PAT) grew 31.6% YoY to βΉ23.97 crore compared to βΉ18.21 crore in the previous year
- Board approved capital investment for capacity enhancement and the incorporation of a new Joint Venture
- Management transition announced with Vineet Goel as new CFO and Tashwinder Singh as incoming Chairman
NRB Bearing reported a strong performance for Q3 FY26, with revenue growing 15% YoY to βΉ296.3 crore and PAT increasing 31.6% to βΉ23.97 crore despite exceptional losses. The company declared a second interim dividend of βΉ3.20 per share, representing a 160% payout on face value. Significant management changes are underway, including the appointment of a new Chairman and CFO. Additionally, the board approved capital investments for capacity expansion and the formation of a new joint venture.
- Revenue from operations grew 15.3% YoY to βΉ296.32 crore in Q3 FY26.
- Net Profit (PAT) jumped 31.6% YoY to βΉ23.97 crore, up from βΉ18.21 crore in the previous year's quarter.
- Declared a second interim dividend of βΉ3.20 per equity share (160%) with a record date of February 13, 2026.
- Exceptional loss of βΉ7.03 crore recorded in Q3 due to statutory impact of new labor codes and GST reversals.
- Board approved capacity expansion and the incorporation of a new Joint Venture company.
NRB Bearings Limited will announce its financial results for the third quarter and nine months ended December 31, 2025, on February 9, 2026. Following this, the company has scheduled an earnings conference call on February 13, 2026, at 15:00 hrs IST. The management team, including the Vice Chairman and Managing Director, will discuss the company's operational and financial performance.
- Earnings call scheduled for February 13, 2026, at 15:00 hrs IST.
- Financial results for Q3 and 9M FY26 to be declared on February 9, 2026.
- Management representation includes Vice Chairman & MD Harshbeena Zaveri and Interim CFO Dhara Dhedhi.
- The call will address performance across automotive and industrial segments in over 40 countries.
NRB Bearings has acquired Bengaluru-based Mahant Tool Room (MTR) for an upfront cash consideration of βΉ27.5 crore through its subsidiary. This acquisition marks NRB's strategic entry into the high-barrier aerospace sector, diversifying its revenue streams beyond the automotive and industrial segments. MTR brings an immediate order book of over βΉ25 crore and specialized expertise in mission-critical engine and fuel systems. The move is a key step toward NRB's aspirational goal of achieving a βΉ2,500 crore turnover within the next five years.
- Acquisition of Mahant Tool Room for an upfront cash consideration of βΉ27.5 crore
- Immediate entry into the aerospace sector with an existing order book exceeding βΉ25 crore
- Target company is a recognized supplier with HALβs Best Performance Award for technical excellence
- Reduces market entry time by approximately 3 years compared to organic entry in the aerospace industry
- Strategic alignment with the company's 5-year goal to reach a βΉ2,500 crore turnover
Financial Performance
Revenue Growth by Segment
Revenue for FY25 grew 5.36% to INR 1,077.52 Cr. Segment split: Two/Three-wheelers (31%), Commercial Vehicles (26-29%), Passenger Vehicles (17%), Industrial (15%), and Aftermarket (12%). H1FY26 revenue reached INR 635.3 Cr, up 7.5% YoY.
Geographic Revenue Split
Domestic sales contributed 76.4% (INR 823.62 Cr, up 6.19% YoY) and Exports contributed 23.6% (INR 253.90 Cr, up 2.74% YoY) in FY25.
Profitability Margins
Gross margins sustained at 54-55%. Operating margin for FY25 was 16.73% (vs 16.23% in FY24). PAT margin for H1FY26 improved to 11.3% from 10.2% YoY.
EBITDA Margin
EBITDA margin for H1FY26 was 20.3%, up from 18.6% YoY. EBITDA for H1FY26 stood at INR 128.7 Cr, representing a 17.4% YoY increase.
Capital Expenditure
Planned total capex of INR 300-325 Cr over the medium term, including INR 200 Cr for new capacities expected to drive growth by FY28.
Credit Rating & Borrowing
CRISIL A1+ rating for commercial paper. Borrowing costs are supported by a healthy interest cover expected to remain above 10 times over the medium term.
Operational Drivers
Raw Materials
Steel and bearing components represent the primary material cost, which accounted for 45.82% of turnover in FY25 (INR 493.77 Cr).
Import Sources
Forex exposure indicates imports from Europe (Euro) and USA (USD). Specific state/country sourcing not explicitly detailed.
Capacity Expansion
Waluj plant returned to full capacity in Q4FY25 following a fire. New capacity expansion of INR 200 Cr is underway for completion by FY28.
Raw Material Costs
Material costs were 45.82% of revenue in FY25, a slight decrease from 46.92% in FY24, reflecting cost-optimization and price pass-through abilities.
Manufacturing Efficiency
Utilizes automated production and assembly machinery designed in-house. Waluj plant fire recovery restored full capacity by Q4FY25.
Logistics & Distribution
Not disclosed as a specific percentage of revenue, but identified as a focus area for cost optimization.
Strategic Growth
Expected Growth Rate
10-15%
Growth Strategy
Achieving growth through a shift from bearing products to friction solutions, expansion into aerospace (spherical bearings), defense, and EV segments, and a INR 200 Cr capacity expansion for FY28.
Products & Services
Ball and roller bearings, needle bearings, cylindrical roller bearings, spherical bearings, and friction solutions.
Brand Portfolio
NRB Bearings.
New Products/Services
New products in the electric vehicle (EV) segment and spherical bearings for the aerospace industry designed in the engineering center.
Market Expansion
Expanding global footprint and increasing penetration in unaddressed industrial segments, aftermarket, and defense.
Market Share & Ranking
Market leader in needle and cylindrical roller bearing segments in India.
Strategic Alliances
Collaboration with Europeβs largest application-oriented research organization for laser and additive technologies.
External Factors
Industry Trends
The industry is shifting toward EV-agnostic products and industrial mobility. NRB is positioning itself as a friction solutions provider to adapt to these shifts.
Competitive Landscape
Faces pricing pressure from automotive OEMs and competition from other bearing manufacturers.
Competitive Moat
Moat is built on market leadership in needle bearings, in-house machine design capabilities, and 70-100% supplier share with key OEMs.
Macro Economic Sensitivity
Sensitive to global growth deceleration (3.2% to 2.9%) and domestic auto sector cyclicality.
Consumer Behavior
Shift toward electric vehicles is driving demand for new technology-agnostic bearing products.
Geopolitical Risks
Ongoing conflicts in Europe and the Middle East create headwinds for global trade and supply chain stability.
Regulatory & Governance
Industry Regulations
Compliance with IND AS 108 for segment reporting and Enterprise Wide Risk Management frameworks.
Environmental Compliance
Total CSR obligation for the financial year was INR 2.24 Cr.
Taxation Policy Impact
Effective tax rate of approximately 23.8% based on H1FY26 PBT of INR 97.38 Cr and Tax of INR 23.16 Cr.
Legal Contingencies
Promoter Harshbeena Zaveri pledged 22.61% of total share capital (2,19,14,877 shares) as of December 4, 2025.
Risk Analysis
Key Uncertainties
Fire accidents (like the Waluj incident) and global trade policy uncertainties could impact revenue by over 5% annually.
Geographic Concentration Risk
76.4% of revenue is concentrated in the domestic Indian market.
Third Party Dependencies
Dependency on automotive OEMs for 60-65% of revenue.
Technology Obsolescence Risk
Risk of EV transition is being mitigated by developing technology-agnostic products and friction solutions.
Credit & Counterparty Risk
Debtors turnover ratio improved to 4.07 in FY25, indicating healthy receivables management.