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NRB BEARINGS Announces Quarterly Results (3QFY19); Net Profit Up 25.7%

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Markets will remain closed on 19th April, 2019 on account of Good Friday.

NRB BEARINGS Announces Quarterly Results (3QFY19); Net Profit Up 25.7%
Wed, 13 Feb

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

NRB BEARINGS Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m2,0792,5102,426-3.4%16.7%
Other incomeRs m8959-90.3%12.2%
TurnoverRs m2,0872,6052,435-6.5%16.7%
ExpensesRs m1,6732,0492,006-2.1%19.9%
Gross profitRs m405461420-8.9%3.7%
DepreciationRs m598079-2.2%33.3%
InterestRs m3433345.8%0.3%
Profit before taxRs m320443316-28.5%-1.2%
TaxRs m10815249-67.7%-54.5%
Profit after taxRs m213291268-8.1%25.7%
Gross profit margin%19.518.417.3
Effective tax rate%33.634.215.5
Net profit margin%10.211.211.0
* 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 16.7% on a year-on-year (YoY) basis. The expenses were up by 19.9% YoY during the same period.
  • The company's operating profit increased by 3.7% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.3% in 3QFY19 as against 19.5% in 3QFY18.
  • Depreciation charges increased by 33.3% and finance costs increased by 0.3% YoY, respectively.
  • Other income increased by 12.2% YoY during the quarter.
  • Net profit for the quarter increased by 25.7% YoY. Net profit margins during the quarter increased from 10.2% in 3QFY18 to 11.0% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 3.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 2.1% QoQ during the same period.
  • The company's operating profit declined by 8.9% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.3% in 3QFY19 as against 18.4% in 2QFY18.
  • Net profit for the quarter declined by 8.1% QoQ, while net profit margins declined from 11.2% in 2QFY18 to 11.0% in 3QFY19.

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 166.3 to Rs 189.5, registering a Gain of Rs 23.3 or around 14.0%.

Overall, the S&P BSE SENSEX is up 5.8% over the year.

Current Valuations

At the current price of Rs 189.5, the price to earnings (P/E) ratio of NRB BEARINGS stands at 15.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.9 times.

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

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