• APRIL 12, 2001

FAG Bearings net up 69.6% in 1QFY01

FAG Bearings, a manufacturer of ball and roller bearings has reported a net profit of Rs 52 m for the 1QFY01, a growth of 69.6% YoY. The company's revenues have grown by 18.4% YoY to Rs 581m during this period.

(Rs m) 1QFY00 1QFY01 Change
Sales 491 581 18.4%
Profit after Tax/(Loss) 31 52 69.6%
Net profit margin (%) 6.2% 8.9%  
No. of Shares (eoy) (m) 13.8 16.8  
Diluted number of shares 16.8 16.8  
Diluted Earnings per share* 8.9 12.3  

FAG Bearings manufactures ball and roller bearings, and components thereof in technical collaboration with FAG AG of Germany. The company also trades in bearings and components for railway bearings and equipment. The company`s factory is located at Maneja in Baroda (Gujarat).

On the current price of Rs 32.5, FAG Bearings is trading at a price to earnings multiple of 7.2x FY00 EPS of Rs 4.5.

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