NRB Bearings (NRBBEARING) Q2 26/27 earnings summary

Executive summary

• Q2 consolidated revenue rose to ₹38,636 lakh from ₹32,520 lakh YoY; H1 revenue reached ₹75,589 lakh versus ₹63,525 lakh.

• Strategy prioritizes integrated engineering, premium products, customer co-development, and capacity and capability expansion; management sees potential to sustain and exceed 19% growth.

Financial highlights

• Consolidated Q2 PBT was ₹4,868 lakh versus ₹5,238 lakh YoY; PAT was ₹3,624 lakh versus ₹4,141 lakh. H1 PBT rose to ₹10,010 lakh from ₹9,738 lakh, while PAT was ₹7,400 lakh versus ₹7,422 lakh.

• Adjusted EBITDA was ₹71 crore, with an 18.2% margin; management urged investors to focus on operational EBITDA and margin as depreciation rises with capacity additions.

• Standalone Q2 revenue was ₹34,201 lakh versus ₹29,078 lakh YoY; PAT was ₹3,176 lakh versus ₹3,646 lakh.

• Other expenses rose 19% YoY and COGS increased ~1%; power, fuel, logistics, and input costs pressured expenses.

Outlook and guidance

• Management described 19% growth as sustainable, with scope to exceed it and a higher growth trajectory within six months as capacity comes on stream; H2 visibility was strong.

• Priorities include technology, innovation, capacity expansion, product development, and maintaining or expanding operating margins; no specific forward guidance was provided.

• Unitec JV remains on track for commissioning by April 2027; management did not provide a revenue breakup and ruled out full capacity utilization in FY28.

• Mahant Tool Room sales are expected to approach ₹1 crore per quarter in 9–12 months, with stronger growth in years four and five; its longer-term 2031 ambition was reiterated.