SNL Bearings Ltd. — Earnings Release 2024

May 17, 2024

May 17, 2024

BSE Limited Corporate Relationship Department 1[st] Floor, P.J. Towers, Dalal Street Mumbai 400 001

Code No. 505827

Dear Sir/Madam,

Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 – Investor Release

Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith a copy of the statement scheduled to be released to the shareholders / investors pursuant to the Board Meeting for financial results of Q4 & FY 2023-24 held on May 15, 2024.

We request you to kindly take the above on record.

Thanking You,

Sincerely, For SNL Bearings Limited

POOJA KARAN Digitally signed by POOJA KARAN JESWANI JESWANI Date: 2024.05.17 16:10:27 +05'30'

Pooja Jeswani Company secretary

Investor Release:

Strong Growth in EBITDA Showcases Company's Robust Performance in Q4 FY24

• Revenue at Rs. 1,146 lakhs , growth of 1.1% y-o-y

• EBITDA at Rs. 337 lakhs , growth of 28.1% y-o-y

• PAT at Rs. 207 lakhs , growth of 35.3% y-o-y

Mumbai, May 17[th] , 2024: SNL Bearings Limited, manufacturer of anti-friction bearing products has announced its financial results for the quarter and financial year ended 31[st] March 2024 on 15[th] May 2024. The following are the key highlights from the results:

Quarterly/Annual Financial Highlights:

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Particulars (Rs. lakhs.) Q4 FY24 Q4 FY23 Y-o-Y FY24 FY23 Y-o-Y
Revenues (Sales) 1,146 1,133 1.1% 4,769 4,787 -0.4%
EBITDA 337 263 28.1% 1,231 1,266 -2.8%
EBITDA Margins (%) 28.1% 22.5% 24.8% 25.8%
Profit After Tax (PAT) 207 153 35.3% 782 818 -4.4%
PAT Margins (%) 17.3% 13.1% 15.8% 16.7%
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Key Performance Highlights:

• Revenue for Q4 FY24 stood at Rs. 1,146 lakhs as compared to Rs. 1,133 lakhs in Q4 FY23.

• In Q4FY24 EBITDA surged to Rs. 337 lakhs reflecting a remarkable growth of 28.1% compared to Rs. 263 lakhs in Q4 FY23. EBITDA Margin for Q4 FY24 soared by 559 bps to 28.1%. The growth in EBITDA was primarily driven by concerted efforts to streamline operations and optimize costs. Reduction in Raw Material Costs & Other Expenses played a pivotal role in bolstering EBITDA.

• PAT for Q4 FY24 stood at Rs. 207 lakhs as compared to Rs. 153 lakhs in Q4 FY23. PAT margin stood at 17.3% improving by 417 bps. The Company’s continued focus on cost-efficiency initiatives has strengthened its bottom line, contributing to enhanced profitability.

• Through value engineering and rigorous cost reduction measures, the Company has bolstered its competitive edge in the market.

• With a change in its product mix and focus on emerging segments and new markets, the Company, is poised to capitalize on growing market demand.

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About SNL Bearings Limited (SNL):

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SNL Bearings Ltd., formerly promoted by Shriram Group in technical collaboration with INA Germany and currently, a subsidiary of NRB Bearings Limited, specializes in the manufacturing of Needle Roller Bearings for the automotive industry, as well as industrial bearings utilized in textile machinery and household appliances. Approximately 90% of the company's products are supplied to Original Equipment Manufacturers (OEMs), with the remaining portion dedicated to the replacement market and exports.

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Safe Harbor

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Any forward-looking statements about expected future events, financial and operating results of the Company are based on certain assumptions which the Company does not guarantee the fulfilment of. These statements are subject to risks and uncertainties. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company’s operations include a downtrend in the industry, global or domestic or both, significant changes in political and economic environment in India or key markets abroad, tax laws, litigation, labour relations, exchange rate fluctuations, technological changes, investment and business income, cash flow projections, interest and other costs. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

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Company:

Investor Relations Advisors:

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SNL Bearings Ltd

CIN: L99999MH1979PLC134191 Mr. Satish Rangani – Non-Executive Director investorcare@snlbearings.in

Orient Capital (a division of Link Intime India Pvt Ltd) Ms. Payal Dave payal.dave@linkintime.co.in +91 98199 16314

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