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Below are Quote on NRB Bearings Result by Milan Desai, Lead Equity Analyst, Angel Broking

NRB Bearings’ Q4FY21 operational numbers have come in better than our expectations with PAT beat being aided by lower ETR. The consolidated top-line for the quarter grew by 37.2%/5.1% YoY/QoQ to Rs. 257 crores, against our estimate of Rs. 240 crores. EBITDA came in at Rs. 47 crores, up 203%/8.4% YoY/QoQ, vs. our estimate of Rs. 40 crores on account of lower material and employee expenses. PAT was ahead of our expectations on account of better operational performance and owing to lower ETR of ~12%.  PAT came in at Rs. 35 crores, up 728.2%/53.7% YoY/QoQ, as against our expectation of Rs. 25 crores. NRB has a diversified presence, is focusing on improving its exports and we believe that it would benefit from improvement in the underlying Auto demand over the medium term. We maintain our positive view on the stock.

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