The Hindu Business Line : NRB Bearings expects growth in export, domestic markets to continue

NRB Bearings promoters have bought a 26 per cent stake from Timkens France at Rs 230 per share. The President of NRB Bearings, Ms Harshbeena Zaveri, said that the company has seen a great deal of growth in the Indian market, as well as in theexport market. It expects the growth in both these markets to continue. Excerpts from CNBC-TV18's exclusive interview with Ms Harshbeena Zaveri:

On the kind of business growth expected:

There has been a great deal of growth in the Indian market, as well as in our export market. We are one of the lowest cost producers of the quality needle bearing worldwide. We also have the largest market share in the domestic market on cylindrical roller bearing. So we expect both these markets to continue to grow.

On margins:

Our margins are one of the highest in the industry. We expect that trend to continue. I would not like to give a percentage for the future. But for the last quarter, our PBT was 20 per cent and PAT 14 per cent. We should close at an EPS of around Rs 36.

On the company's relation with Timkens:

Since the year 1999, when we chose not to re-sign our technology agreement with them; we have been completely independent. We felt that setting up an R&D facility would be very important for us in terms of building our black box design capabilities for Indian customers and future global customers. So we have not been taking any technical inputs from Timkens in the past. With this 26 per cent acquisition now, we will be completely free in terms of global market access as well.

On whether the company will be looking for other international tie-ups: We are open to tie-ups. But we are quite clear that we would like to keep our management independent. Whatever we do with this 26 per cent stake, it will be in line with SEBI norms and regulations.

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