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The eBearing News
July 23, 2004
NRB Reports
Fiscal Year 2004 Results
copyright © 2004 eBearing Inc.
NRB Bearings Ltd. (India) reported operating results for its fiscal year ended March 31, 2004.
NOTE: all Rupee numbers converted from lakh, lacs and crore to decimal
• click here for an explanation
Sales for the year were Rs 17.49 billion (USD $378.0 million), up 20% from
2003's Rs 14.55 billion ($314.6 million).
Net profit was Rs 2.04 billion ($44.1 million), up 57% from Rs 1.30 billion ($28.1 million) in 2003.
On the income side, VRS (Voluntary Retirement Scheme) compensation accounted for Rs 200 million.
In October 2003, NRB raised its level of investment in bearing manufacturer SNL, now reported at
Rs 1.16 billion in common and preferred shares of SNL. NRB has also loaned SNL as much as
Rs. 1.25 billion.
NRB, now with five facilities in India, was founded in 1965 as a joint venture with French needle
bearing manufacturer Nadella. Nadella
was later acquired by Torrington, and Torrington by Timken in early 2003 -- making NRB now a
publicly-traded Indian subsidiary of Timken.
NRB manufactures needle roller, thrust and cylindrical roller bearings; the majority of its output -- 85% --
goes to automobile and light truck manufacturers. Most of that production is exported to
European customers such as Renault, but the company also sells to India's growing automaker population.
NRB is also seeking type approval by GM, Volvo and others.
In the Indian market, NRB sales include key positions in textile machinery bearings
and rail bearings.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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