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ICICI Direct Report
NRB Bearings Ltd. registered a rebound in its Q2 performance led by improved production levels at domestic original equipment manufacturers on account of the festive stocking.
The performance was further aided by higher exports and strong traction in tractors.
Revenue for Q2 came in at Rs 197.7 crore, down 4.6% YoY (versus our estimate of Rs 195.8 crore).
Gross margins expanded sharply by approximately 610 basis points. Consequently, Ebitda margins improved ~530 basis points to 15.4%.
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