© ABC Bearings is one of the largest Indian players in Roller Bearings in technical collaboration with NSK of Japan – No. 1 in Japan & 3rd in world in bearings.
© Company is entering in new markets like railway bearings with wheel bearings for freight wagons (Rs 100 crore market), slewing bearings (mainly goes for windmill gears) and hub bearing market. These new markets are expected to be major growth drivers going forward.
© It has set up a JV with NSK – Japan (ABC – 25%: NSK – 75%) to cater to Japanese customers of passenger cars in India. JV, (with project size of Rs 60 crore) will start production by Q1 FY 2009. Thus, company is expected to grow top-line @ ~ 20% and bottom-line @ ~ 30% with improved profitability.
For FY 2008, Sales declined by 8.9% to Rs 165.9 crore (Rs 182.1 crore). OPM% fell to 21.7% (24.6%). Consequently, Net Profit decreased by 21% to Rs 15.92 crore.
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