SNL Bearings Ltd Share Price

Summary

SNL Bearings Limited (Earlier known Shriram Needle Bearing Industries Limited) established in 1983, is engaged in the manufacture and marketing of antifriction bearing products. SNL was promoted by then the Shriram Group of Industries in technical collaboration with INA Germany. By virtue of being associated with INA, SNL got the opportunity to have one of the finest Technologies in the world in Needle Bearing manufacturing. It became associated with Indias most progressive business group in the field in June 2000 when the Holding Company, NRB Bearings Limited took over the management of the unit. SNL is only manufacturer of needle roller bearings in Eastern India, at Ranchi. The Company operates in the anti-friction bearing industry and major user industrial of anti-friction bearings are automobiles, general engineering, railways, electrical equipment manufactures etc. It manufactures mostly needle bearing products and operates in markets such as Automotive OEMs, After Market and Exports.Stabilisation of production system, de-bottleneck in some of the existing product lines and development of new products have resulted in a remarkable uptrend in the performance of the Company in 1994-95.According to a BIFR order, interest due to financial institutions was converted into equity at par with effect from 1 Apr.93. The company again became a subsidiary of SRF in 1994-95. Upon further conversion of loan into equity shares by financial institutions, the percentage of shareholding o
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