NRB Bearings Stock Surges on Q4 Performance & Announced 205% Dividend

NRB Bearing Ltd on a consolidated basis has reported robust growth in Q4FY23. The net profit increased by 93.24% to Rs 33.74 crore as compared to Rs 17.46 crore in the same quarter last year and increased by 23.44% sequentially. The net sales of the company increased by 22.75% to Rs 3112.44 crore as compared to Rs 254.54 crore in the same quarter last year and sequentially increased by 24.43%. 

The company reported a 52.24% increase in PBIDT excluding other income to Rs 63.97 crore as compared to Rs 42.02 crore in the same quarter last year and on a sequential basis increased by 34.46%. The Board of Directors approved the declaration of an interim dividend of Rs 4.10 per equity share of the face value of Rs 2 each, i.e., 205%. The interim dividend shall be paid to all members whose names appear on the Register of Members as of the Record Date, i.e., June 9, 2023. 

NRB Bearing is an Indian company that manufactures ball and roller bearings for the industrial market. It was founded in 1965 as an Indo-French venture with Nadella and pioneered the production of needle roller bearings in India. Its eight manufacturing facilities in India and Thailand produce needle roller bearings, cylindrical roller bearings, tapered roller bearings, special ball bearings, thrust bearings, and other anti-friction solutions such as planetary shafts and pins. 

Today, the share of NRB Bearing Ltd opened at Rs 161.15 and has touched a high and low of Rs 173.65 and Rs 161.15, respectively. So far 1,18,651 shares have been traded on the bourses.        

At the time of writing, the shares of NRB Bearing Ltd were trading at Rs 171.60, an increase of 6.52% from the previous day’s closing price of Rs 161.10 on BSE. The stock has a 52-week high and low of Rs 186 and Rs 115, respectively on BSE.