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Tuesday, February 23, 2010

SNL Bearings Ltd:Buy/sell/hold,growth prospects and recomendation,news and results,target price and analysis,views and outlook

Scripscan:SNL Bearings Ltd

Story:SNL Bearings Ltd operates in the Antifriction bearing industry which is segmented into ball bearings and roller bearings (Tapered,Cylindrical, Needle, Spherical,Thrust and other special application bearings).The major user industries of antifriction bearings are automobiles, general engineering,railways, electrical equipment etc. The market segmentation of demand is approximately 60% from original equipment manufacturers (OEM) and the balance coming from the replacement market/exports.Last fiscal the organised bearing industry in India produced bearings valued at Rs. 2500 crores registering a growth of 3%.Snl suffered a decline in sales and accordingly the market share of the company in the overall industry has marginally declined from the previous years level of 0.6% In the needle bearing segment its market share is estimated at about 8%.With a revival in automobile industry its expected to perform much better in the coming quarters.It is still in very nascent stage but what I like is , it is owned by NRB Bearing.SNL Bearing was previously Shriram Needles Bearing Ltd and NRB Bearing (MNC) took over in 2000.With such a great management SNL Bearing is bound to do good in future.At present price of 25 bucks I put a hold on to it.Scrip can be accumulated at levels of around 18-20.

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