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National Fittings Overview

Established in 1993 by Mr. S. Perichiappan, National Fittings Limited is a leading manufacturer of pipe fittings and valve components. The company offers a wide range of products including grooved fittings, threaded fittings, and valves, serving industries such as plumbing, fire protection, and industrial piping. National Fittings’ clientele includes contractors, distributors, and industrial users both in India and abroad. Promoted by Mr. Perichiappan and his family, the company has achieved significant milestones in production capacity ...Read More

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National Fittings Key Financials

Market Cap ₹132 Cr.

Stock P/E 5.6

P/B 1.5

Current Price ₹144.9

Book Value ₹ 96.3

Face Value 10

52W High ₹235

Dividend Yield 0.69%

52W Low ₹ 121.5

National Fittings Share Price

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Volume
Price

National Fittings Quarterly Price

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National Fittings Peer Comparison

National Fittings Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 21 17 22 15 19 21 23 21 24 24
Other Income 0 0 0 1 1 1 1 1 1 1
Total Income 21 17 22 16 19 21 25 21 25 25
Total Expenditure 17 14 18 14 17 19 20 17 21 21
Operating Profit 4 3 4 1 2 3 5 4 4 4
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 0 1 1 1
Exceptional Income / Expenses 0 0 0 7 0 0 12 0 0 0
Profit Before Tax 3 2 3 7 1 2 16 4 3 3
Provision for Tax 1 0 1 0 0 1 2 1 1 -0
Profit After Tax 2 1 2 7 1 1 14 3 2 3
Adjustments 0 -0 0 -0 0 0 -0 0 -0 -0
Profit After Adjustments 2 1 2 7 1 1 14 3 2 3
Adjusted Earnings Per Share 2.1 1.3 2.1 7.6 0.9 1.1 16 2.9 2 3.2

National Fittings Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 50 52 67 62 58 57 51 66 86 77 78 92
Other Income 1 2 2 3 2 1 1 1 1 1 3 4
Total Income 50 54 70 65 60 58 52 68 87 78 81 96
Total Expenditure 40 41 52 48 51 52 46 62 76 65 70 79
Operating Profit 11 13 18 17 9 6 6 6 11 13 11 17
Interest 1 1 1 2 2 2 1 1 1 1 1 0
Depreciation 1 1 1 3 3 2 3 3 3 3 3 3
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 19 12
Profit Before Tax 8 11 16 12 4 2 2 2 7 8 26 26
Provision for Tax 3 4 6 4 1 0 1 0 2 2 3 4
Profit After Tax 5 7 10 8 3 1 2 1 4 6 23 22
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 5 7 10 8 3 1 2 1 4 6 23 22
Adjusted Earnings Per Share 6.3 8.9 12.2 8.5 3.3 1.5 1.8 1.5 4.8 6.4 25.7 24.1

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 1% 6% 6% 5%
Operating Profit CAGR -15% 22% 13% 0%
PAT CAGR 283% 184% 87% 16%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 10% 15% 29% 7%
ROE Average 33% 17% 12% 19%
ROCE Average 34% 19% 13% 23%

National Fittings Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 18 20 28 47 50 50 51 52 55 59 81
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 9 10 6 5 4 3 1 1
Other Non-Current Liabilities 1 0 1 2 3 3 3 3 4 4 4
Total Current Liabilities 13 20 11 22 29 25 22 26 28 24 17
Total Liabilities 32 40 39 80 91 83 81 85 89 88 103
Fixed Assets 5 6 10 41 47 47 46 48 47 45 27
Other Non-Current Assets 0 0 1 4 3 4 3 3 5 8 1
Total Current Assets 27 34 28 36 41 33 32 35 37 36 74
Total Assets 32 40 39 80 91 83 81 85 89 88 103

National Fittings Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 6 7 10 12 16 16 9 11 10 11 11
Cash Flow from Operating Activities 4 10 13 9 6 2 9 4 6 10 8
Cash Flow from Investing Activities 0 -1 -5 -7 -7 -1 -1 -4 -5 -2 37
Cash Flow from Financing Activities -3 -5 -5 -1 2 -8 -5 -0 -0 -8 -12
Net Cash Inflow / Outflow 2 3 2 1 1 -8 2 -1 0 0 33
Closing Cash & Cash Equivalent 7 10 12 16 16 9 11 10 11 11 44

National Fittings Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 6.28 8.88 12.19 8.53 3.29 1.47 1.81 1.48 4.83 6.43 25.66
CEPS(Rs) 8 10.34 13.45 11.49 6.21 4.15 4.69 4.66 8.61 10.24 28.9
DPS(Rs) 1 3 4 0 1.5 0 1 1 1.5 1.5 1
Book NAV/Share(Rs) 18.27 23.54 33.32 51.89 55.38 54.72 56.53 56.81 60.49 65.34 89.15
Core EBITDA Margin(%) 18.98 21.29 23.15 22.35 11.98 8.09 9.26 6.57 11.15 14.71 10.08
EBIT Margin(%) 18.56 22.4 25.21 22.45 10.65 5.68 6.52 4.21 8.86 12.14 34.7
Pre Tax Margin(%) 16.44 20.97 23.76 19.73 7.7 2.64 4.59 2.52 7.63 10.49 33.58
PAT Margin (%) 10.89 13.96 15.1 12.52 5.15 2.35 3.21 2.03 5.1 7.63 29.83
Cash Profit Margin (%) 13.19 16.25 16.66 16.85 9.71 6.63 8.32 6.38 9.09 12.15 33.6
ROA(%) 18.83 20.53 25.59 12.95 3.49 1.53 2 1.62 5.04 6.58 24.4
ROE(%) 41.91 42.48 42.88 20.71 6.14 2.67 3.25 2.61 8.24 10.22 33.21
ROCE(%) 44.45 48.67 57.84 27.31 8.53 4.41 4.81 4.04 10.51 12.39 33.65
Receivable days 15.28 17.13 14.18 16.65 24.05 25.86 27 24.64 22.24 27.43 30.21
Inventory Days 37.72 40.02 39.28 56.24 76.35 91.01 98.02 76.05 65.86 71.85 69
Payable days 21.7 21.89 29.17 98.91 120.74 149.18 127.96 109.08 86.6 85.51 64.82
PER(x) 11.92 8.16 19.57 23.65 34.34 14.9 19.95 38.72 12.24 15.35 4.66
Price/Book(x) 4.1 3.08 7.16 3.89 2.04 0.4 0.64 1.01 0.98 1.51 1.34
Dividend Yield(%) 1.34 4.14 1.68 0 1.33 0 2.77 1.75 2.54 1.52 0.84
EV/Net Sales(x) 1.27 1.08 2.85 3.06 1.92 0.57 0.75 0.9 0.74 1.23 0.89
EV/Core EBITDA(x) 5.96 4.3 10.63 11.42 12.66 5.7 6.43 10.56 5.73 7.39 6.44
Net Sales Growth(%) 34.84 5.36 28.72 -7.81 -6.28 -2.04 -10.04 29.63 29.75 -11.04 2.1
EBIT Growth(%) 50.52 26.6 42.79 -17.92 -55.55 -47.71 3.16 -16.35 173.53 21.82 191.83
PAT Growth(%) 63.65 34.39 37.31 -23.6 -61.41 -55.35 22.92 -18.19 226.93 33.06 298.9
EPS Growth(%) 79.69 41.34 37.31 -30.02 -61.41 -55.35 22.92 -18.19 226.93 33.06 298.9
Debt/Equity(x) 0.26 0.31 0.18 0.46 0.51 0.42 0.32 0.36 0.37 0.26 0.07
Current Ratio(x) 2.02 1.71 2.53 1.65 1.44 1.32 1.49 1.31 1.33 1.51 4.44
Quick Ratio(x) 1.64 1.37 1.83 1.13 0.98 0.71 0.93 0.73 0.76 0.89 3.55
Interest Cover(x) 8.75 15.67 17.39 8.27 3.61 1.87 3.39 2.5 7.2 7.34 31
Total Debt/Mcap(x) 0.08 0.1 0.03 0.13 0.27 1.06 0.51 0.35 0.38 0.17 0.05

National Fittings Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 34.04 34.04 34.04 34.04 34.04 34.04 34.04 34.04 34.04 34.04
FII 0 0 0 0 0 0 0 0 0 0
DII 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Public 65.95 65.95 65.95 65.95 65.95 65.95 65.95 65.95 65.95 65.95
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

National Fittings News

National Fittings Pros & Cons

Pros

  • Company has delivered good profit growth of 87% CAGR over last 5 years
  • Debtor days have improved from 85.51 to 64.82days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 34.04%.
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