NBC Bearings Clocks 10% Growth In Revenues To Rs 1,800 cr
Revenues of Jaipur-headquartered NBC Bearings grew by 10% to Rs 1800 crore in 2015-16 riding on the demand from two-wheelers and commercial vehicles, a top official of the company said. “Despite a 5% growth in Indian bearing industry, revenues of NBC expanded by 10% to reach Rs 1,800 crore. Our exports, which contribute about 20% to the total sales rose by 6.5%.
Currently, we are manufacturing bearings of 1,250 different sizes. But there is a plan to increase the range to 1500,” said Shailesh Patni, vice-president, marketing, NBC Bearings, while addressing leading stockists in Athens.
Patni said that even though the growth in the first quarter of the current financial year has been tepid, the industry is expected to do better than last year.
“The impact of 7th Pay Commission is expected give a fillip to demand. While the industry is likely to clock a growth of 8-9%, we are optimistic that NBC will better last year’s performance as we have done in the previous years. We expect our revenues to expand by 15% this fiscal,“ added Patni.
The C K Birla company has earmarked an investment up to Rs 200 crore this year. “In order to maintain the growth momentum, we have plans to invest up to Rs 200 crore this year,“ added Patni. On exports, he said over the years NBC has expanded its overseas markets and currently sends shipments to more than 30 countries including the US, UK and the Middle East Asia among others.
For NBC, customer comes first and it defines all behaviour and practices at NEI. “We are committed through every minute of the day to continuously improve service quality to customers, sharpening responses and flexibility to achieve the customer’s objectives. We constantly anticipate customer demand and look for opportunities to provide them with more products at one stop,” added Patni.
The company’s customer return is measured mainly on two aspects: Zero Km rejection and Warranty rejection. NEI has been at less than 100 ppm and the goal is to achieve 50 ppm in the next three years, and single digit ppm levels subsequently.
Flexibility of approach and action, a commitment to customer satisfaction and innovation, design and product development has ensured that NEI is one of the most preferred and trusted business partner for its customers.