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Bimetal Bearings Ltd share price today (on 1 October 2023).

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BSE: 505681 | NSE: BIMETAL | ISIN: INE469A01019 Market Cap: [Rs.Cr.] 94 | Face Value: [Rs.] 10 Industry: Bearings

"Bimetal Bearings Limited was established in the year 1961 in collaboration with Clevite Inc., USA and Repco Limited, Australia. BBL currently has a Technology Agreement with Daido Metal Co., Japan covering new range of high performance material including lead free alloys, manufacturing up-gradation, high performance / lead free plating and quality systems across all facilities.
BBL has fully integrated manufacturing facilities right from raw material to fully value added Bimetal Bearings Ltd is a major engine bearings producer in India. The company is engaged in manufacturing and selling of bearings, bushings and thrust washers. Their products include thin-walled bearings, bushings and thrust washers, bimetallic strips and alloy powder. The company plants are located at Chennai, Coimbatore and Hosur. The manufacturing infrastructure consists of a strip mill plant in Chennai with an installed capacity of 1,200 TPA, bearing plant at Coimbatore and Hosur producing 1.2 million half shells per month, and a thrust washer and bushing plant at Chennai with a capacity of 1 million pieces per month. Bimetal Bearings Ltd was incorporated on April 19, 1961 and was converted into a public limited company on September 5, 1961.
The company was established in collaboration with Clevite Corporation, USA and Repco Ltd, Australia. In the year 1969, Clevite Corporation, USA merged with Gould Inc USA and hence the shares held by Clevite in the company were transferred to Gould. In the year 1975, the company entered into a patent and technical service agreement with Gould Inc. USA, in which the company was permitted to manufacture such items after the expiry of collaboration without any additional payments. In the year 1983, the company signed an export contract with Auto Exports of Russia for the supply of thin walled engine bearings. In June 1985, the company implemented the second phase of expansion at their bearings plants and stared their commercial production. In the year 1991, the company partially developed infrastructure facilities for manufacture of heavy and large diameter bearings to cater to the requirements of railways. During the year 1995-96, the aluminium tin cladding facility in the strip mill plant at Chennai commenced its production.
In the year 2000, the company undertook upgrading their alloy plating facilities at Hosur and the alloy power strip mill facilities were fully geared to meet the export requirements. During the year 2000-01, the company, with a view to reduce dependence on import of materials and increasing the access to emerging markets, has entered into a Technology Transfer Agreement with Daido Metal Company Ltd, Japan. In addition, the company attained the coveted QS 9000:1998 certification for all its plants from Lloyd?s Register Quality Assurance - LRQA, a status, which is bound to enhance the confidence level of domestic and international customers in the company's products. During the year 2001-02, the company in association with Daido Metal Co Ltd, Japan promoted a joint venture company BBL Daido (P) Ltd for the manufacture of polymer bearing products. They commenced their operations in the end of the financial year 2002-03.
According to the Individual - Audited financial statement for the Year of 2012, total net operating revenues increased with 17.67%, from INR 153.76 tens of millions to INR 180.93 tens of millions. Operating result increased from INR 14.27 tens of millions to INR 23.68 tens of millions which means 65.94% change. The results of the period increased 43.10% reaching INR 12.85 tens of millions at the end of the period against INR 8.98 tens of millions last year. Return on equity (Net income/Total equity) went from 7.13% to 9.59%, the Return On Asset (Net income / Total Asset) went from 6.84% to 9.54% and the Net Profit Margin (Net Income/Net Sales) went from 5.84% to 7.10% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 0.51% compared to 104.18% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 4.28 to 3.84 when compared to the previous year.

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