NRB BEARINGS Announces Quarterly Results (1QFY20); Net Profit Down 75.0%

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NRB BEARINGS Announces Quarterly Results (1QFY20); Net Profit Down 75.0%
Fri, 16 Aug

NRB BEARINGS has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

NRB BEARINGS Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m2,3392,1272,080-2.2%-11.1%
Other incomeRs m28312281.3%-56.1%
TurnoverRs m2,3672,1302,092-1.8%-11.6%
ExpensesRs m1,8951,8661,825-2.2%-3.7%
Gross profitRs m610261255-2.5%-58.2%
DepreciationRs m8178869.3%5.4%
InterestRs m3342433.6%33.1%
Profit before taxRs m524144138-4.3%-73.7%
TaxRs m176275191.4%-71.1%
Profit after taxRs m34811787-26.0%-75.0%
Gross profit margin%26.112.312.2
Effective tax rate%33.618.537.0
Net profit margin%14.75.54.1
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 11.1% on a year-on-year (YoY) basis. The expenses were down by 3.7% YoY during the same period.
  • The company's operating profit declined by 58.2% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.2% in 1QFY20 as against 26.1% in 1QFY19.
  • Depreciation charges increased by 5.4% and finance costs increased by 33.1% YoY, respectively.
  • Other income declined by 56.1% YoY during the quarter.
  • Net profit for the quarter declined by 75.0% YoY. Net profit margins during the quarter declined from 14.7% in 1QFY19 to 4.1% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.2% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.2% QoQ during the same period.
  • The company's operating profit declined by 2.5% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 12.2% in 1QFY20 as against 12.3% in 4QFY19.
  • Net profit for the quarter declined by 26.0% QoQ, while net profit margins declined from 5.5% in 4QFY19 to 4.1% in 1QFY20.

To see how NRB BEARINGS has performed over the last eight quarters,please visit here.

NRB BEARINGS Share Price Performance

Over the last one year,NRB BEARINGS share price has moved down from Rs 181.3 to Rs 90.0, registering a Loss of Rs 91.3 or around 50.4%.

Overall, the S&P BSE SENSEX is down 1.4% over the year.

Current Valuations

At the current price of Rs 90.0, the price to earnings (P/E) ratio of NRB BEARINGS stands at 11.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.3 times.

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