NRB Industrial Bearings is a pure-play industrial bearings manufacturer that was carved out of the NRB Bearings group in 2012 to focus exclusively on the heavy-engineering side of the friction-management business. It designs and makes high-precision ball and roller bearings for factories, construction sites, farms and power plants - not for cars - and sells them directly to equipment makers and through distributors. The recurring idea is being a “Complete Solution Provider” that wins not by making the cheapest standard bearing but by developing customised, non-standard products for specific OEM applications, then pushing those products deeper into underserved industrial clusters. # Business segments A single engine - the design, manufacture and sale of industrial bearings - run through one factory and one R&D centre, serving OEMs, the aftermarket and export customers from the same product portfolio. ## 1. Industrial bearings: a custom-engineered answer to friction **The company makes ball and roller bearings for heavy machinery, but its real product is a tailored solution - it designs bearings that standard catalogues do not cover, then sells them into sectors where equipment uptime is the customer’s only currency.** - **Customised, not commoditised** - the portfolio spans groove ball bearings, cylindrical roller bearings, spherical roller bearings, taper roller bearings, needle bushes, cam followers and more, but the emphasis is on developing non-standard variants for specific OEM needs, because that is where multinational competitors are slowest to respond. - **Sixty percent of demand is OEM** - in the overall Indian bearing market, roughly three-fifths of demand comes from original equipment manufacturers, with the aftermarket and exports making up the rest; this means the company’s fortunes are tied to the capital-goods cycle in its chosen sectors. - **Six sectors, one playbook** - the growth strategy targets textiles, material handling, agriculture, industrial electrical, vibratory motors and industrial transmission; in a good year, gearboxes, construction machinery and material handling lift performance, while a slowdown in textile or pump OEMs can leave the company with excess raw-material inventory. - **Chinese imports are the headwind** - about 40% of India’s bearing consumption is imported, and Chinese bearings are gaining acceptance among end-users, putting pressure on both domestic players and established European and Japanese multinationals; the company’s countermove is to use industry slowdowns to get its own new products approved as replacements. - **One plant, one R&D centre** - all manufacturing happens at a single facility in Aurangabad, Maharashtra, which houses a government-recognised R&D unit; in a typical year the team develops 35 to 54 new products, from combined axial-and-radial thrust bearings to low-friction ball bearings for motor applications. # Group structure and partners **The company is now solely controlled by one branch of the founding family, with two associate investments that extend its product range and market reach.** - **A clean split from the NRB group** - a family settlement in early 2025 vested exclusive ownership, control and management of NIBL with the Devesh Singh Sahney family, with the other family branches relinquishing all rights in the assets and properties of TSS Trust 2 and the HSZ Family transferring all their shares in NIBL to DSS. - **The name is leased** - as part of the separation, NIBL entered into an Inter-Company Agreement with NRB Bearings Limited involving INR 55.12 crore and intellectual property provisions, and the ‘NRB Industrial’ and ‘NRB Industrial Bearings’ trademarks will revert to NRB Bearings Limited if control of NIBL ever changes hands. - **Two 35%-owned associates** - NRB-IBC Bearings is a joint venture with IBC Industrial Bearings of Switzerland, while NIBL-Korta Engineering (formerly part of Spain’s Korta group) diversifies the product catalogue; together they give NIBL a wider offering without the full cost of building it in-house. - **Promoter support is structural** - the company has a history of negative net worth, and the promoter director has provided a letter of support to ensure it can meet its operational and financial obligations as they fall due.