Board Meeting Details

The Board meeting was held on November 04, 2026, commencing at 4:00 p.m. and concluding at 7:30 p.m.

Financial Results (Standalone)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹34,201 lakhs (Q2 FY26: ₹29,078 lakhs)
  • Other income: ₹604 lakhs (Q2 FY26: ₹1,658 lakhs)
  • Total income: ₹34,805 lakhs (Q2 FY26: ₹30,736 lakhs)
  • Profit before tax: ₹4,122 lakhs (Q2 FY26: ₹4,541 lakhs)
  • Tax expense: ₹946 lakhs (Q2 FY26: ₹895 lakhs)
  • Profit after tax: ₹3,176 lakhs (Q2 FY26: ₹3,646 lakhs)
  • Basic EPS: ₹3.28 (before exceptional items), ₹3.28 (after exceptional items)

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹66,190 lakhs (H1 FY26: ₹56,934 lakhs)
  • Other income: ₹1,408 lakhs (H1 FY26: ₹2,584 lakhs)
  • Total income: ₹67,598 lakhs (H1 FY26: ₹59,518 lakhs)
  • Profit before tax: ₹8,713 lakhs (H1 FY26: ₹8,164 lakhs)
  • Tax expense: ₹2,060 lakhs (H1 FY26: ₹1,879 lakhs)
  • Profit after tax: ₹6,653 lakhs (H1 FY26: ₹6,285 lakhs)
  • Basic EPS: ₹6.66 (before exceptional items), ₹6.87 (after exceptional items)

Exceptional Items

  • Q2 FY27: Nil
  • H1 FY27: Gain of ₹265 lakhs (insurance claim for Waluj fire incident received in Q1 FY27)
  • FY26: Net loss of ₹703 lakhs (insurance gain of ₹621 lakhs offset by labour code impact of ₹1,324 lakhs)

Dividend Declaration

  • Interim dividend of ₹2.50 per equity share (125% on face value of ₹2 each)
  • Dividend to be paid within 30 days from declaration date (November 04, 2026)
  • Record date: November 11, 2026

Director Changes

  • Mr. Rustom Desai (DIN: 02448175) will complete his maximum permissible tenure as Independent Director on January 22, 2027
  • Cessation is solely due to completion of tenure with no other material reasons
  • The Board recorded appreciation for his contributions

Committee Reconstitution

Nomination and Remuneration Committee reconstituted effective November 04, 2026:

  • Chairperson: Bapsy Dastur (previously Member)
  • Members: Jayavardhan Dhar Diwan, Tashwinder Singh
  • Rustom Desai removed as Chairman

Policy Updates

Amended Policies:

  • Environmental Policy
  • Ethics Policy
  • Human Rights Policy
  • Whistle Blower Policy
  • Occupational Health and Safety (OHS) Policy
  • Non-Discrimination and Equal Opportunity Policy

New Policies Adopted:

  • Sustainability Policy
  • Biodiversity Policy
  • Labour Policy
  • Sustainable Procurement Policy

Subsidiary Activities

Mahant Tool Room Private Limited (MTRPL):

  • Wholly owned subsidiary incorporated December 30, 2025 for aerospace business
  • Business Transfer Agreement dated January 27, 2026 to acquire Mahant Tool Room, Bengaluru for ₹3,750 lakhs
  • Long-stop date extended to July 27, 2026
  • ICD of ₹700 lakhs converted to equity in Q1 FY27 (2,409 shares at ₹29,688 per share)
  • Additional equity investment of ₹3,050 lakhs in Q2 FY27 (10,273 shares at ₹29,689 per share)
  • Transaction completed on July 10, 2026

NRB Unitec Friction Solutions Private Limited:

  • Incorporated April 22, 2026 as wholly owned subsidiary
  • Joint venture with Unitec S.r.l. (Mondial Group, Italy) for cylindrical roller bearings
  • 25% stake (2,500 shares of ₹10 each) transferred to Mondial S.p.A. on July 21, 2026
  • Ceased to be wholly owned subsidiary

Amplus Ampere Private Limited (AAPL):

  • 8.50% stake held (48 lakh shares of ₹10 each, ₹480 lakhs investment)
  • Board approved transfer of 14.56 lakh shares for ₹145.60 lakhs on August 07, 2026
  • Share Purchase Agreement dated October 22, 2026 to sell 7.20 lakh shares to Apcotex Industries Limited for ₹72 lakhs
  • Considered non-adjusting event as approvals obtained after September 30, 2026

Capital Structure

  • Paid-up equity share capital: ₹1,938 lakhs (face value ₹2 per share)
  • Standalone other equity: ₹92,623 lakhs (March 31, 2026: ₹88,231 lakhs)
  • Consolidated other equity: ₹99,969 lakhs (including non-controlling interest of ₹2,069 lakhs)

Cash Flow Highlights (Standalone H1 FY27)

  • Net cash from operations: ₹6,390 lakhs
  • Net cash used in investing: ₹6,415 lakhs
  • Net cash from financing: ₹216 lakhs
  • Net increase in cash: ₹191 lakhs
  • Closing cash balance: ₹1,380 lakhs

Consolidated Financial Highlights

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹38,636 lakhs
  • Profit after tax: ₹3,624 lakhs
  • PAT attributable to owners: ₹3,544 lakhs
  • Basic EPS: ₹3.66

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹75,589 lakhs
  • Profit after tax: ₹7,400 lakhs
  • PAT attributable to owners: ₹7,228 lakhs
  • Basic EPS: ₹7.46

Subsidiaries Included in Consolidation

  • SNL Bearings Limited
  • NRB Holdings Limited, UAE
  • Mahant Tool Rooms Private Limited
  • NRB Unitec Friction Solutions Private Limited (from April 22, 2026)
  • NRB Bearings (Thailand) Limited*
  • NRB Bearings Europe GmbH*
  • NRB Bearings USA Inc*

(*Step-down subsidiaries)

Auditor's Review

  • Limited review conducted by Walker Chandiok & Co LLP
  • No material misstatements identified
  • Reliance on other auditors for subsidiary reviews (NRB Holdings UAE, Mahant Tool Rooms, NRB Unitec)