Afs Presentation

Analysis of Financial Statement

Presented by,Jay Lodaya P-19

Rohit Mundhara P-21Saurabh Shinde P-35

Bearing Industry in

India

FAG Bearings India Limited, a member company of FAG

group of Germany - is a leading player in the Indian

Bearing industry.

NRB was established in 1965 as an Indo French Joint Venture with financial and technical

collaboration with Nadella.

NRB Bearings Ltd

Financial Performance

in (cr) SKF Ltd FAG Bgs Ltd NRB Bgs LtdEquity 53.00 17.00 10.00Net worth 347.00 179.00 117.00Enterprise Value 1406.00 669.00 245.00Capital Employed 348.00 190.00 145.00Gross Block 553.00 276.00 178.00Reserves 294.62 162.42 127.47

RevenueIn (cr) SKF Ltd FAG Bearing Ltd NRB Bearings LtdSales 897.00 463.00 246.00Other Income 40.00 8.00 7.00PBIDT 130.00 87.00 55.00PBDT 129.00 86.00 54.00PBIT 104.00 70.00 44.00PBT 103.00 69.00 43.00PAT 64.00 48.00 27.00

ValuationsSKF Ltd FAG Bgs Ltd NRB Bgs Ltd

Book Value (Rs) 65.88 CR 107.73 CR 141.55 CREPS (Rs) 11.66 28.29 33.35Dividend (%) 35.00 35.00 100.00Market Cap (Rs) 1449.00 CR 816.00 CR 473.00 CRP/E (times) 17 16 14

Valuations

Book Value (Cr)

EPS (Rs) Dividend (%)

Market Cap (Cr)

P/E (times)0

200400600800

1000120014001600

SKF LtdFAG Bearings LtdNRB Bearings Ltd

Solvency RatioSKF Ltd FAG Bgs Ltd NRB Bgs Ltd

Current Ratio 1.78 :1 1.66 :1 1.71 :1

Capital StructureSKF Ltd FAG Bgs Ltd NRB Bgs Ltd

Debt –Equity 0.01 :1 0.04 :1 0.28 :1

Management Ratio

SKF Ltd FAG Bgs Ltd NRB Bgs LtdInventory Turnover ratio 6.79 times 7.19 times 5.48 timesDebtors Turnover ratio 10.07 times 8.03 times 5.41 times

Management Ratio

Inventory Turnover Ratio (days)

Debtors Turnover Ratio (days)

01020304050607080

SKF LtdFAG Bearings LtdNRB Bearings Ltd

Profitability Ratio

SKF Ltd FAG Bgs Ltd NRB Bgs Ltd

ROCE 33.93% 42.54% 31.72%

RONW 21.22% 30.23% 25.07%

G.P Ratio 14.49% 18.79% 23.54%

Additional Ratio

SKF Ltd FAG Bgs Ltd NRB Bgs Ltd

Interest Coverage 188.36 times 67.11 times 18.38 times

Dividend Payout ratio 30.03% 12.38% 37.50%

Growth Rate

SALES SKF Ltd FAG Bgs Ltd NRB Bgs Ltd2004 23.33% 20.59% 20.00%2005 32.45% 25.46% 22.33%

M Cap SKF Ltd FAG Bgs Ltd NRB Bgs Ltd2004 39.44% 26.97% 170.95%2005 114.90% 147.68% 40.62%

ReturnsSKF Ltd FAG Bgs Ltd NRB Bgs Ltd

29/12/06 Rs 272.05 Rs 644.10 Rs 501.9029/12/05 Rs 283.34 Rs 386.46 Rs 354.04Return -4.17% 60.56% 29.46%

• Sensex on the day 29/12/06 was 13786.91 • Return of 47.88% from previous year

• Nifty on the day 29/12/06 was 3966.40• Return of 40.56% from previous year

Thank You