SKP Bearing Industries Ltd(SKP)

NSE: SKP

₹ 143.05-4.86%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 237 crUpdated: 24 Oct 2026

About

SKP Bearing Industries makes rolling elements (steel balls, needle rollers, cylindrical rollers and pins) used by bearing makers and OEMs in automobile, textile, electronics and other industries, from Wadhwan, Surendranagar, Gujarat and a subsidiary in France. Reported FY26 revenue was Rs 102.71 Cr. The company describes itself as a leading manufacturer of precision pins in India and a leading exporter of needle rollers.^[1][2]

Business segments

Mulchand plant: Rs 60.85 Cr revenue, 53.6% of the total, in FY26.^[3]
Zammar Plant (ball plant, Plant 3): Rs 26.04 Cr revenue, 22.9% of the total, in FY26.^[3]
France subsidiary (VGI): Rs 24.62 Cr revenue, 21.7% of the total, in FY26.^[3]
By product in FY24: rollers made up 75% of revenue, balls 11.76% and RE 14.%.^[1]
Balls made up 7.5 - 8% of standalone revenue in H1FY26.^[4]

Products

Makes steel balls, needle rollers, cylindrical rollers and pins (FY24 annual report).^[1]
With VGI, the range covers rollers of 2.00mm to 8.00mm diameter and 4.00mm to 60.00mm length, and balls of 0.6mm to 16.00mm diameter, in stainless steel, brass, aluminium and glass.^[1]
The ball plant achieved ISO certification in FY26; IATF 16949 automotive certification eligibility is targeted 12 months after March 2026.^[5][6]
Testing facilities include UTS testing machines, roundness and contour testers, digital image analysers and AI-based machines for precision profile checking (FY24).^[1]

Plants and capacity

Manufacturing is based in Wadhwan, Surendranagar, Gujarat, near Kandla Port and Mundra Sea Port.^[1]
Roller plant: 1,872 TPA annualised capacity at 78% utilisation in Q1 FY27, vs 1,700 MT capacity in FY26 and 1,320 MT in FY25.^[6][5]
Ball plant (Plant 3): 2,000 TPA capacity at 17% utilisation in Q1 FY27; capacity was 480 MT in FY25, when utilisation was 50%.^[6][5]
FY26 output: roller plant 1,326 MT; ball plant 340 MT.^[5]
Ball plant capacity was expanded to 2,000 MT in FY26 with Rs 18 Cr capex; commercial production started March 2025.^[5]

Customers and markets

In FY24, two-wheelers were 34% of revenue, commercial vehicles 23% and automotive and off-highway 16%.^[1]
Domestic aftermarket contributed 7% of revenue and export aftermarket another 4% in FY24.^[1]
Exports were 5% of revenue in Q1 FY27, vs 2% in FY25; the company targets 10% by FY28.^[6][7]
Has expanded into Central Europe, the Middle East, South America and North America (FY24).^[1]
A large global customer with about Rs 100 crore revenue potential by FY30 has issued letters of nomination from about three to four sites for the Indian entity, plus others for France; supplies have begun (Q1 FY27).^[6]
Under approval with a leading Indian aircraft and aerospace manufacturer to supply critical components (Q1 FY27).^[6]

France subsidiary

Valette & Gaurand Industries (VGI) was acquired through a newly set up company, SKP-bearing Industries Limited France.^[1]
France revenue fell to about 5-10% of its pre-acquisition level after the change of entity, and had recovered to about 40-50% by Q1 FY27.^[6]
Economic dismissals were carried out under French law to reduce employee costs (Q2 FY26).^[4]
Loans of the French subsidiary were restructured in Q1 FY27, with one-time financing costs.^[6]
Management targets France breakeven by Q4 FY27 exit.^[6]

Expansion plans

Roller plant expansion to 2,400 MT (200 TPM) is underway to commission, through debottlenecking, automation and new machinery (Q1 FY27).^[6][5]
The ball plant has space for a Phase 2 expansion to 4,800 TPA (FY26).^[5]
Ball plant utilisation targeted at 30-40% by FY27 year-end as customer validations complete.^[6]
Heat treatment debottlenecking from 250 TPM to 400 TPM was planned by Q4 FY26.^[4]
India standalone revenue target of Rs 110 crore for FY29 (Q1 FY27 call).^[6]

Recent developments

Delay in the government Quality Control Order for bearing components kept imports flowing and slowed the ball plant's ramp-up (Q3 FY26).^[7]
The India-Europe FTA and plants on two continents allow consignment stock in France for just-in-time supply to European customers (Q3 FY26).^[7]
The PM-KUSUM solar scheme began generating a substantial portion of revenue (Q2 FY26).^[4]
Listed through an IPO in July 2022.^[1]

Market Cap

₹237 Cr

High / Low

₹233 / 137

Stock P/E

309.4

Price / Book

5.8

Book Value

₹28

EPS

₹0.5

No. of Shares

1.66 Cr

ROCE

11.4%

ROE

1.8%

OPM

9.0%

Debt / Equity

0.88

Sales

₹103 Cr

Net Profit

₹1 Cr

Promoter holding

74.9%

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SKP Bearing Industries Ltd(SKP)

About

Business segments

Products

Plants and capacity

Customers and markets

France subsidiary

Expansion plans

Recent developments

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