Order Book Or Contract Wins
Expected: ImmediateHIGH confidence
What: Aerospace Order Book: ₹25 Cr
“They come with an order book of more than INR25 crores, giving us instant scalability in this high-entry barrier sector.”
NRB Bearings Ltd: Why Is It Outperforming Nifty 500?
ActiveRS +17.1%Average4w Streak
In , NRB Bearings Ltd (Bearings) is outperforming Nifty 500 with +17.1% relative strength. Fundamentals: Average. On a 4-week streak.
NRB Bearings Ltd Key Facts
- PE Ratio
- 20.8x
- Market Cap
- ₹3,082 Cr
- PAT Growth YoY
- +4300%
- Revenue Growth YoY
- +13%
- OPM
- 18.0%
- RS vs Nifty 500
- +17.1%
PE: Near TroughStrong Opportunity
What's Happening
💎PE falling while earnings hold — value emerging
💪Debt reduced 14% YoY — balance sheet strengthening
🌐FII stake increased 0.5% this quarter
🏛️DII reducing — stake down 4.8%
💰Trading 55% above estimated fair value — significant premium
Earnings Acceleration Triggers
1. Order Book Or Contract Wins
ImmediateHIGH
2. Geographical Expansion
OngoingMEDIUM
3. Value Added Product Mix Shift
Next 12 monthsMEDIUM
Key Risks
1. Disruptions in shipping routes, specifically the Red Sea situation, affecting gl
MEDIUM2. Dependence on imported high-end specialty steels not available in India
LOWSector-Specific Signals
Export Revenue %25%0%
Inventory Days110 days-10 to -20 days
Two-Wheeler Segment % of Revenue30%
Commercial Vehicle Segment % of Revenue27-30%
Key Numbers
PAT Growth YoY
+4300%
Stable
Revenue YoY
+13%
Stable
Operating Margin
18.0%
0 bps YoY
PE Ratio
20.8
Current Price
₹318
Dividend Yield
1.79%
Fundamental Score
57/100
Average
3Y PAT CAGR
+15%
Market Cap
3.1K Cr
Valuation
Significantly Overvalued12-Week Performance
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
12 weeks agoThis week
Why Are NRB Bearings Ltd's Earnings Accelerating?
Based on Q3 FY26 earnings • Updated Apr 19, 2026
Geographical Expansion
Expected: OngoingMEDIUM confidence
What: Export Share: 25%
“Our automotive business, which is deeply entrenched with premium OEMs across India, Europe, Asia, and the Americas.”
Value Added Product Mix Shift
Expected: Next 12 monthsMEDIUM confidence
What: Industrial Segment Share: 11-12%
Impact: 30% EBITDA margin potential
“Industrial is growing faster but out of the total pie, it is roughly been 8% to 10% and now is starting to move faster to 11%, 12%.”
EBITDA Margin at 19%+
HIGH confidence
What: EBITDA Margin at 19%+
“our EBITDA margin improved by over 19%, compared with approximately 17% to 18%, the same period last year.”
Total Capex guidance raised
HIGH confidence
What: ₹200 Cr → ₹270 Cr
“Now you're talking about the total capex of INR270 crores that we have approached that our Board has sanctioned.”
What Are the Key Risks for NRB Bearings Ltd?
Earnings deceleration risks from management commentary
Disruptions in shipping routes, specifically the Red Sea situation, affecting gl
MEDIUMTrigger: Ongoing regional instability impacting logistics and customer inventory expectations.
Management view: Maintaining higher inventory levels (110 days) to ensure reliability for global customers.
Monitor: geopolitical
Dependence on imported high-end specialty steels not available in India
LOWTrigger: Lack of domestic producers for specific high-specification steels required for premium exports.
Management view: Focusing on being 'euro surplus' or 'dollar surplus' to hedge against currency fluctuations related to imports.
Monitor: commodity
What Is NRB Bearings Ltd's Management Saying?
Key quotes from recent conference calls
“This will together propel our growth towards our aspirational goal of NRB at INR 2,500 crores by 2031. [Previous Revenue Target guidance]”
“And my second question is on return on equity, ROE... I think that we would be happy with 17% to 18%. [Previous Return on Equity (ROE) guidance]”
“Our JV is a total cluster of INR110 crores... it would be 15 to 18 months by which it would have significant production. [Initiative: Unitec Joint Venture]”
“They come with an order book of more than INR25 crores, giving us instant scalability in this high-entry barrier sector. [Initiative: Mahant Toolroom Acquisition]”
What Did NRB Bearings Ltd Report This Quarter?
Headline numbers from the latest earnings call
Revenue
₹328 Cr
YoY +18%
Why: Growth was driven by a deliberate focus on product mix and engineering-first partnerships with premium OEMs across global platforms.
Revenue momentum is supported by entrenched positions in new generation EV, ICE, and Hybrid platforms.
EBITDA
₹64 Cr
YoY +26%Margin 19%
Why: Margin expansion resulted from improved cost structures, stringent working capital discipline, and a shift toward high-margin precision applications.
EBITDA growth outpaced revenue growth, indicating operational efficiency gains.
PAT
₹38 Cr
YoY +44%
Why: Profitability was bolstered by the absence of exceptional items and improved operational performance across diversified segments.
The 44% jump in PAT reflects high incremental margins on the 18% revenue growth.
Other Highlights
• Nine-month FY 2026 revenue reached ₹963 crores, an 11% increase over the previous period.
• CRISIL maintained the company's credit rating at AA- citing strong financial discipline.
• Inventory levels reduced to 110 days from a historical range of 120 to 130 days.
What Sector Metrics Matter for NRB Bearings Ltd?
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Export Revenue %
25%
YoY 0%
Why: Maintained as a consistent percentage of total business despite global volatility.
Inventory Days
110 days
YoY -10 to -20 days
Why: Improved working capital discipline, though still above the 90-100 day optimal target.
Two-Wheeler Segment % of Revenue
30%
Why: Remains a core pillar of the domestic business.
Commercial Vehicle Segment % of Revenue
27-30%
Why: Stable contribution from global and domestic CV platforms.
Industrial Segment % of Revenue
11-12%
YoY +2-3%
Why: Faster growth driven by new applications in construction and machinery.
Passenger Vehicle Segment % of Revenue
20%
Why: Focused on Tier-1 suppliers for premium brands like Audi and Mercedes.
Aftermarket Segment % of Revenue
10-12%
Why: Intentionally kept lower as bearings have high reliability and low failure rates.
Total Product Variants
3,400+
Why: Reflects the company's 'mass customization' strategy.
Working Capital Limit
₹450 Cr
Why: Significant portion remains unutilized, indicating strong liquidity.
Aerospace Order Book
₹25 Cr
YoY New
Why: Acquired through the Mahant Toolroom transaction.
What Is NRB Bearings Ltd's Management Guidance?
Forward-looking targets from management for FY 2031
OPM Guidance
18–20%
Capex Plan
₹270 Cr
Revenue Outlook
₹2,500 Cr by 2031
Margin Outlook
REAFFIRMED
Capex Plan
₹270 Cr
Industrial cylindrical roller bearings and aerospace capacity expansion.
Management Tone: BULLISH
Guidance Changes
RAISED
Total Capex: ₹200 Cr → ₹270 Cr
How Fast Is NRB Bearings Ltd Growing?
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +13% | +8% | Stable |
| PAT (Net Profit) | +4300% | +15% | Stable |
| OPM | 18.0% | 0 bps | Stable |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 19, 2026.
Other Top Bearings Stocks Beating Nifty 500
Frequently Asked Questions: NRB Bearings Ltd
Based on publicly available financial data. This is educational research, not investment advice.
What were NRB Bearings Ltd's latest quarterly results?
NRB Bearings Ltd's latest quarterly results (Mar 2026) show
- PAT Growth YoY: +4300.0% (stable)
- Revenue Growth YoY: +13.1%
- Operating Margin: 18.0% (stable)
Is NRB Bearings Ltd's profit growing or declining?
NRB Bearings Ltd's profit is growing with an stable trend.
- PAT Growth YoY: +4300.0% (latest quarter)
- PAT Growth QoQ: +44.8% (sequential)
- 3-Year PAT CAGR: +15.0%
- Trend: Stable — consistent growth pattern
What is NRB Bearings Ltd's revenue growth trend?
NRB Bearings Ltd's revenue growth trend is stable.
- Revenue Growth YoY: +13.1%
- Revenue Growth QoQ: +13.4% (sequential)
- 3-Year Revenue CAGR: +8.1%
How is NRB Bearings Ltd's operating margin trending?
NRB Bearings Ltd's operating margin is stable.
- Current OPM: 18.0%
- OPM Change YoY: 0.0% basis points
- OPM Change QoQ: 0.0% basis points
What is NRB Bearings Ltd's 3-year profit and revenue CAGR?
NRB Bearings Ltd's long-term compounding rates
- 3-Year Profit CAGR: +15.0%
- 3-Year Revenue CAGR: +8.1%
Is NRB Bearings Ltd's growth accelerating or decelerating?
NRB Bearings Ltd's earnings growth is stable with mixed signals on a sequential basis.
- YoY Acceleration: +68.2% bps
- Sequential Acceleration: +74.1% bps
What is NRB Bearings Ltd's trailing twelve month (TTM) performance?
NRB Bearings Ltd's trailing twelve month (TTM) performance
- TTM PAT: ₹145 Cr
- TTM PAT Growth: +74.7% YoY
- TTM Revenue: ₹1,000 Cr
- TTM Revenue Growth: +11.3% YoY
- TTM Operating Margin: 17.3%
Is NRB Bearings Ltd overvalued or undervalued?
NRB Bearings Ltd appears significantly overvalued based on our fair value analysis.
- Valuation Signal: Significantly Overvalued
- Current PE: 20.8x
- Price-to-Book: 3.2x
What is NRB Bearings Ltd's current PE ratio?
NRB Bearings Ltd's current PE ratio is 20.8x.
- Current PE: 20.8x
- Market Cap: 3.1K Cr
- Dividend Yield: 1.79%
How does NRB Bearings Ltd's valuation compare to its history?
NRB Bearings Ltd's current PE is 20.8x.
- Current PE: 20.8x
- Valuation Assessment: Significantly Overvalued
What is NRB Bearings Ltd's price-to-book ratio?
NRB Bearings Ltd's price-to-book ratio is 3.2x.
- Price-to-Book (P/B): 3.2x
- Book Value per Share: ₹99
- Current Price: ₹318
Is NRB Bearings Ltd a fundamentally strong company?
NRB Bearings Ltd is rated Average with a fundamental score of 57.36/100. This score is calculated from objective financial metrics
- Revenue Growth YoY: +13.1% (10% weight)
- PAT Growth YoY: +4300.0% (10% weight)
- PAT Growth QoQ: +44.8% (10% weight)
- Margins stable (10% weight)
Is NRB Bearings Ltd debt free?
NRB Bearings Ltd has a debt-to-equity ratio of N/A.
- Total Debt: ₹154 Cr
What is NRB Bearings Ltd's return on equity (ROE) and ROCE?
NRB Bearings Ltd's return ratios over recent years
- FY2024: ROCE 15.0%
- FY2025: ROCE 16.0%
- FY2026: ROCE 19.0%
Is NRB Bearings Ltd's cash flow positive?
NRB Bearings Ltd's operating cash flow is positive (FY2026).
- Cash from Operations (CFO): ₹241 Cr
- Free Cash Flow (FCF): ₹121 Cr
- CFO/PAT Ratio: 165% (strong cash conversion)
What is NRB Bearings Ltd's dividend yield?
NRB Bearings Ltd's current dividend yield is 1.79%.
- Dividend Yield: 1.79%
- Current Price: ₹318
Who holds NRB Bearings Ltd shares — promoters, FII, DII?
NRB Bearings Ltd's shareholding pattern (Mar 2026)
- Promoters: 51.2%
- FII (Foreign): 14.7%
- DII (Domestic): 10.1%
- Public: 24.1%
Is promoter holding increasing or decreasing in NRB Bearings Ltd?
NRB Bearings Ltd's promoter holding has remained stable recently.
- Current Promoter Holding: 51.2% (Mar 2026)
- Previous Quarter: 51.2% (Dec 2025)
- Change: 0.00% (stable)
How long has NRB Bearings Ltd been outperforming Nifty 500?
NRB Bearings Ltd has been outperforming Nifty 500 for 4 consecutive weeks, indicating building momentum.
Is NRB Bearings Ltd a new momentum entry or an established outperformer?
NRB Bearings Ltd is an established outperformer with 4 weeks of consecutive Nifty 500 outperformance.
What are the growth catalysts for NRB Bearings Ltd?
NRB Bearings Ltd has 5 key growth catalysts identified from recent earnings analysis
- Order Book Or Contract Wins — The Mahant acquisition provides an immediate, high-quality order book from HAL and other aerospace customers.
- Geographical Expansion — Deep entrenchment with premium global OEMs in Europe, Asia, and the Americas provides long-term visibility.
- Value Added Product Mix Shift — Transitioning from commodity bearings to high-end engineering solutions in industrial and aerospace sectors.
- EBITDA Margin at 19%+ — Driven by a shift toward high-margin precision products and improved cost structures.
What are the key risks in NRB Bearings Ltd?
NRB Bearings Ltd has 2 key risks worth monitoring
- [MEDIUM] Disruptions in shipping routes, specifically the Red Sea situation, affecting gl — Ongoing regional instability impacting logistics and customer inventory expectations.
- [LOW] Dependence on imported high-end specialty steels not available in India — Lack of domestic producers for specific high-specification steels required for premium exports.
What did NRB Bearings Ltd's management say in the latest earnings call?
In Q3 FY26, NRB Bearings Ltd's management highlighted
- "This will together propel our growth towards our aspirational goal of NRB at INR 2,500 crores by 2031. [Previous Revenue Target guidance]"
- "And my second question is on return on equity, ROE... I think that we would be happy with 17% to 18%. [Previous Return on Equity (ROE) guidance]"
- "Our JV is a total cluster of INR110 crores... it would be 15 to 18 months by which it would have significant production. [Initiative: Unitec Joint Ve..."
What is NRB Bearings Ltd's management guidance for growth?
NRB Bearings Ltd's management has provided the following forward guidance for FY 2031
- Revenue outlook: ₹2,500 Cr by 2031
- OPM guidance: 18–20%
- Capex plan: ₹270 Cr for Industrial cylindrical roller bearings and aerospace capacity expansion.
- Management tone: bullish
- Milestone: [RAISED] Total Capex: ₹200 Cr → ₹270 Cr
What sector-specific metrics matter most for NRB Bearings Ltd?
NRB Bearings Ltd's most important sub-sector-specific KPIs from the latest concall
- Export Revenue %: 25% (YoY 0%) — Maintained as a consistent percentage of total business despite global volatility.
- Inventory Days: 110 days (YoY -10 to -20 days) — Improved working capital discipline, though still above the 90-100 day optimal target.
- Two-Wheeler Segment % of Revenue: 30% — Remains a core pillar of the domestic business.
- Commercial Vehicle Segment % of Revenue: 27-30% — Stable contribution from global and domestic CV platforms.
- Industrial Segment % of Revenue: 11-12% (YoY +2-3%) — Faster growth driven by new applications in construction and machinery.
- Passenger Vehicle Segment % of Revenue: 20% — Focused on Tier-1 suppliers for premium brands like Audi and Mercedes.
Is NRB Bearings Ltd worth studying for long term investment?
Based on quantitative research signals, here is why NRB Bearings Ltd may be worth studying
- Earnings growing at +4300.0% YoY
- Cash flow is positive — CFO ₹241 Cr
What is the investment thesis for NRB Bearings Ltd?
NRB Bearings Ltd investment thesis summary:
Research Signals (Bull Case)
- Revenue growing at +13.1% YoY
- Growth catalyst: Order Book Or Contract Wins
Risk Factors (Bear Case)
- Appears significantly overvalued
- Key risk: Disruptions in shipping routes, specifically the Red Sea situation, affecting gl
What is the future outlook for NRB Bearings Ltd?
NRB Bearings Ltd's forward outlook based on current data signals
- Earnings Trend: stable
- Revenue Trend: stable
- Margin Trend: stable
- Valuation: Significantly Overvalued
- Key Catalyst: Order Book Or Contract Wins
- Key Risk: Disruptions in shipping routes, specifically the Red Sea situation, affecting gl
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.