125% Interim Dividend: October 16 Record Date; Pick Shares For Eligibility?

More than 90% of the vehicles on Indian roads now use NRB components, making NRB Bearings the top bearing manufacturer in India with an ISO 9001 certification. The corporation has operations in over 25 nations worldwide. The leading supplier of traditional cylindrical roller bearings and needle roller bearings is NRB Bearings.

NRB Bearings Dividend

"Pursuant to the provisions of Regulation 30 (read with Part A of Schedule III) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors of the Company at its meeting held on today, i.e., on Friday, October 4, 2024, inter-alia considered and approved declaration of interim dividend of Rs. 2.50/- (Rupees Two and Fifty Paise Only) per equity share of Rs. 2/- each, i.e., 125% (One Hundred and Twenty Five percent). The interim dividend shall be paid to all members whose names appear on the Register of Members as on the Record Date, i.e., October 16, 2024. The interim dividend shall be paid within a period of 30 days of the declaration thereof as per the statutory timelines," said the company in a stock exchange filing.

NRB Bearings Financials

In the June 2024 quarter, the company's net sales were recorded at Rs 253.35 crore, a 2.41% growth over the June 2023 quarter's Rs 247.40 crore. In Q1FY25, the company's net profit was Rs. 17.55 crore, a 50.8% decrease from Rs. 35.67 crore in Q1FY24. EBITDA decreased 13.65% from Rs. 40.15 crore in June 2023 to Rs. 34.67 crore in June 2024.

NRB Bearings Share Price Target

"NRB Bearing stock price is bearish yet oversold on the Daily charts with strong resistance at 296. Investors should buy only if the Daily close is above the mentioned resistance for a target of 320 in the near term. Support will be at 276," recommended A R Ramachandran, Independent Research Analyst.

Disclaimer

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