NRB Bearings Share Price

NRB Bearings, an IndoFrench JV venture between Nadella, France and Trilochan Sahney is into manufacture of Needle roller bearings, Cylindrical roller bearings and Ball bearings. It pioneered the manufacture of needle roller bearings in India. The French partner holds 26% stake in the company. The Timken Co. USA in Oct 2002 which has acquired Engineered Solutions Business segment of IngersollRand Ltd as part of world wide acquisition. By this worldwide acquisition Timken got the voting rights of Nadella S.A. the JV partner thus resulting in Timken picking up a default acquisition of 26% equity stke in NRB Bearings.The companys activities are organised into three divisions general bearings, needle bearings and agency. The general bearings division set up in 1982 manufactures cylindrical roller bearings. It later diversified into spherical roller bearings and ball bearings in technical collaboration with Ransome Hoffman Pollard International (RHP), UK. In 1995, its product range was diversified again by including taper roller bearings with technical knowhow from SNR Roulements, France. In Apr.91, Sahney Steel and Press Works was merged with it. NRBs list of customers include Maruti Udyog, Mahindra Mahindra, Telco, Ashok Leyland, Bajaj Tempo, Bajaj Auto, LML, TAFE, Siemens, ABB, HMT, Kelvinator, Lucas TVS and LMW. The companys agency division, set up in 1980, acts as an intermediary for a number of foreign companies in UK, France, Germany and Switzerland such as RHP, Gamet, Nadella, Rollix, IBC, Rohm, Schneeberger, Kugler SA and Forsheda.NRB Bearings came out with a public issue in Mar.95 to finance the installation of balancing equipment at its Jalna unit to increase productivity. The company has set up an engineering center at Thane to foster technological innovation and to move towards becoming a bearings solution provider. To further develop knowledge on bearing applications, the full fledged testing facilities and computer aided design center has been setup. The company has implemented expansion for enhanced capacity in the general bearings division, which has resulted in additional capacity of 2.1 million nos. for various type of ball and roller bearings in the year 19992000.The Company have a joint vernture comany and two subsidiary companies. The jointventure company NRB Torrington is set up in collaboration with the Torrington Company, US. to manufacture wide inner ring ball bearings and housed units. Commercial production of this company started during the year 199495. Essen Marketing Services Ltd., one of the subsidiary of the company is into agency business. While the other SNL Bearings(SNL) formerly Shriram Needle Bearing Industries Ltd., is into manufacture of Needle Roller Bearings. SNL became the subsidiary of NRB Bearings with effective from June 1, 2001 by the acquisition of 63.98% of the equity capital of SNL partly from SRF Ltd. and their associates (45.78%) and under the public offer made under SEBI guidelines. Currently the parent company is taking various measures for SNLs turnaround. This acquisition will enable the company to become significantly stronger player in the needle bearing segment in the country.On quality front all the plants of the company and its corporate office is accredited with QS9000 certificate by TUV, the internationally acclaimed registrars. Earlier the company and all its plants have been certified for ISO9002.The Pantnagar plant of the company in the state of Uttarakhand was inaugaurated on 7th May, 2008. During FY 201213, the Scheme of arrangement for the demerger of industrial bearings undertaking of the Company into NRB Industrial Bearings Limited (NIBL) became effective from 1st October, 2012. Consequent to the said Scheme of amalgamation, all the assets and liabilities relating to industrial bearings business of the Company on the appointed date got transferred to NIBL on a going concern basis. Upon the Scheme of Arrangement becoming effective from 1st October, 2012, NRB Industrial Bearings Ltd (NIBL) and Scheneeberger India Pvt. Ltd. have ceased to be a subsidiary and joint venture company respectively.NRB Bearings Europe GmbH, a wholly owned subsidiary was set up during the year 201415.