NRB BEARINGS Announces Quarterly Results (2QFY19); Net Profit Up 37.7%

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NRB BEARINGS Announces Quarterly Results (2QFY19); Net Profit Up 37.7%
Mon, 12 Nov

NRB BEARINGS has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

NRB BEARINGS Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m2,0822,3392,5107.3%20.6%
Other incomeRs m362895240.3%164.2%
TurnoverRs m2,1182,3672,60510.1%23.0%
ExpensesRs m1,6991,8952,0498.2%20.6%
Gross profitRs m383610461-24.4%20.4%
DepreciationRs m768180-1.2%6.4%
InterestRs m363333-0.3%-10.5%
Profit before taxRs m307524443-15.4%44.3%
TaxRs m95176152-13.9%58.9%
Profit after taxRs m211348291-16.2%37.7%
Gross profit margin%18.426.118.4
Effective tax rate%31.133.634.2
Net profit margin%10.014.711.2
* 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 grew 20.6% on a year-on-year (YoY) basis. The expenses were up by 20.6% YoY during the same period.
  • The company's operating profit increased by 20.4% YoY during the quarter. Consequently, operating profit margins remained same and stood at 18.4% in 2QFY19.
  • Depreciation charges increased by 6.4% and finance costs declined by 10.5% YoY, respectively.
  • Other income increased by 164.2% YoY during the quarter.
  • Net profit for the quarter increased by 37.7% YoY. Net profit margins during the quarter increased from 10.0% in 2QFY18 to 11.2% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 7.3% on a quarter-on-quarter (QoQ) basis. The expenses were up by 8.2% QoQ during the same period.
  • The company's operating profit declined by 24.4% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 18.4% in 2QFY19 as against 26.1% in 1QFY18.
  • Net profit for the quarter declined by 16.2% QoQ, while net profit margins declined from 14.7% in 1QFY18 to 11.2% in 2QFY19.

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 up from Rs 144.1 to Rs 178.0, registering a Gain of Rs 33.9 or around 23.5%.

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 178.0, the price to earnings (P/E) ratio of NRB BEARINGS stands at 15.4 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.6 times.

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