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Nikita Greentech Overview

1. Business Overview

Nikita Greentech Recycling Ltd. (NIKITA) is an Indian company operating within the Paper & Paper Products sector, specifically focusing on recycling. The company's name "Greentech Recycling" strongly indicates its core business revolves around environmentally friendly waste management, likely specializing in paper and paper product recycling. Its primary activities would involve the collection, sorting, processing, and potentially conversion of waste paper into usable raw materials (e.g., recycled pulp) or finished recycled paper products. The core business model likely involves sourcing waste paper, processing it to meet specific quality standards, and then selling the recycled material to paper mills or other manufacturers, or potentially manufacturing its own recycled paper products. Revenue is generated from the sale of these recycled materials or products.

2. Key Segments / Revenue Mix

Specific key segments or detailed revenue mix are not publicly available. Based on the business model, potential internal operational segments could include waste paper collection, sorting and baling, de-inking/pulping processes, and sales & distribution. Without detailed financial reports, it's not possible to quantify their contribution.

3. Industry & Positioning

Nikita Greentech Recycling operates within the Indian paper recycling industry. This industry is characterized by increasing demand for recycled paper driven by environmental concerns, government mandates for waste management, and the cost-effectiveness of recycled fiber compared to virgin pulp. The Indian paper industry itself is a significant consumer of recycled fiber. The recycling sector is often fragmented, with numerous small and medium-sized players involved in collection and initial processing. Larger players often have integrated facilities. Without specific market share or operational scale, NIKITA's precise positioning relative to peers is unknown, but it likely competes in a market with both organized and unorganized players.

4. Competitive Advantage (Moat)

Based solely on the name and industry, it's difficult to ascertain a strong, durable competitive advantage (moat) for Nikita Greentech Recycling Ltd. Potential sources of competitive advantage in this industry, which the company may or may not possess, include:

Efficient Collection Network: A robust and cost-effective network for sourcing waste paper.

Proprietary Processing Technology: Advanced or highly efficient recycling technologies.

Scale & Cost Leadership: Large-scale operations leading to lower per-unit processing costs.

Long-term Contracts: Secure supply agreements with waste generators or off-take agreements with paper mills.

Brand Reputation: A strong reputation for quality recycled products or ethical practices (less common for intermediate recycling firms).

Without further information, any specific moat remains speculative.

5. Growth Drivers

Increasing Demand for Recycled Paper: Growing awareness and demand for sustainable products from consumers and industries.

Government Policies & Regulations: Favorable environmental policies promoting waste management, recycling, and the use of recycled content in products.

Raw Material Scarcity & Cost: Rising costs and limited availability of virgin pulp, making recycled fiber a more attractive and stable alternative.

Urbanization & Waste Generation: Increasing waste generation in urban centers provides a larger raw material pool for recycling.

Technological Advancements: Innovations in recycling technology can improve efficiency and product quality.

6. Risks

Raw Material Availability & Quality: Fluctuations in the supply and quality of waste paper can impact operations and costs.

Price Volatility: Recycled paper and pulp prices can be volatile, impacting profitability.

Intense Competition: The industry can be competitive with both organized and unorganized players.

Logistical Challenges: Managing the collection, transportation, and storage of waste paper across a wide geographical area.

Regulatory Changes: Changes in environmental norms, waste management policies, or trade regulations could affect the business.

Energy Costs: Recycling processes can be energy-intensive, making the company susceptible to energy price fluctuations.

Capital Intensity: Setting up and maintaining recycling facilities often requires significant capital expenditure.

7. Management & Ownership

Specific details regarding promoters, management quality, or precise ownership structure are not publicly available without access to regulatory filings or company reports. Given the typical structure of Indian companies, it is likely promoter-driven, with key decisions influenced by the founding family or individuals.

8. Outlook

Nikita Greentech Recycling Ltd. operates in an industry with strong tailwinds driven by global sustainability trends and increasing demand for circular economy solutions. The long-term outlook for paper recycling in India is generally positive, supported by environmental regulations and economic incentives for using recycled content.

The bull case would hinge on the company's ability to establish efficient sourcing networks, optimize processing technologies, manage costs effectively, and potentially secure long-term contracts. A growing demand for recycled paper and supportive government policies could significantly aid its expansion.

The bear case, however, highlights risks associated with raw material availability and quality, price volatility in recycled materials, and potentially intense competition within a fragmented market. Without clear competitive advantages or scale, the company might face challenges in achieving consistent profitability and significant market share.

In summary, while the industry offers structural growth opportunities, the company's success will largely depend on its operational efficiency, ability to navigate market volatility, and strategic differentiation within a competitive landscape.

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Nikita Greentech Key Financials

Market Cap ₹205 Cr.

Stock P/E 8.9

P/B 1.9

Current Price ₹83

Book Value ₹ 44.8

Face Value 10

52W High ₹156

Dividend Yield 0%

52W Low ₹ 77.2

Nikita Greentech Share Price

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Volume
Price

Nikita Greentech Quarterly Price

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Nikita Greentech Peer Comparison

Nikita Greentech Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Nikita Greentech 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 62 81 92 106 109 100 118 356 398 339 364
Other Income 0 0 0 0 0 0 0 0 0 8 15
Total Income 62 81 92 107 109 100 118 357 399 347 379
Total Expenditure 57 76 85 99 101 92 106 329 371 298 320
Operating Profit 5 5 7 8 8 8 12 28 28 48 60
Interest 2 2 3 4 4 4 5 11 11 14 17
Depreciation 2 2 3 3 3 3 4 11 10 10 10
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 4 0
Profit Before Tax 1 1 1 1 2 2 3 6 7 29 33
Provision for Tax 0 0 0 0 0 1 0 2 2 8 10
Profit After Tax 1 0 1 1 1 1 3 5 5 21 23
Adjustments 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 1 0 1 1 1 1 3 5 5 21 23
Adjusted Earnings Per Share 0.7 0.4 0.7 0.9 1.4 0.8 3.2 2.8 3.3 11.4 12.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 7% 1% 29% 19%
Operating Profit CAGR 25% 29% 50% 28%
PAT CAGR 10% 66% 87% 37%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% NA%
ROE Average 25% 23% 20% 13%
ROCE Average 17% 14% 12% 10%

Nikita Greentech 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 17 17 18 19 20 21 24 49 55 81 104
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 14 22 19 19 17 55 105 78 69 48 77
Other Non-Current Liabilities 1 1 1 2 2 4 3 9 10 9 8
Total Current Liabilities 18 20 29 29 32 32 60 104 124 166 193
Total Liabilities 50 61 67 69 71 111 192 239 257 304 383
Fixed Assets 23 28 27 27 26 24 99 93 84 96 86
Other Non-Current Assets 2 3 1 1 1 40 3 10 21 6 37
Total Current Assets 25 30 39 41 43 48 91 136 152 203 260
Total Assets 50 61 67 69 71 111 192 239 257 304 383

Nikita Greentech 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 1 1 1 1 2 1 3 4 5 5 8
Cash Flow from Operating Activities -0 -4 3 6 3 -1 -10 9 10 -12 -20
Cash Flow from Investing Activities -4 -8 -0 -2 -2 -32 -48 -11 -14 -3 -2
Cash Flow from Financing Activities 4 11 -2 -4 -2 34 59 3 5 18 17
Net Cash Inflow / Outflow 0 -0 1 1 -1 2 1 1 0 3 -5
Closing Cash & Cash Equivalent 1 1 1 2 1 3 4 5 5 8 3

Nikita Greentech 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) 0.67 0.35 0.72 0.94 1.38 0.78 3.16 2.75 3.32 11.4 12.67
CEPS(Rs) 2.84 2.32 3.75 3.99 4.13 3.4 7.38 9.31 9.38 17.03 18.24
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 11.55 11.87 12.57 13.51 14.88 15.62 18.78 26.67 29.99 44.63 57.29
Core EBITDA Margin(%) 7.41 5.6 7.38 7.14 7.5 8.11 10.44 7.77 6.95 11.88 12.3
EBIT Margin(%) 4.33 3.46 4.54 4.7 5.18 5.63 7.08 4.83 4.54 12.6 13.57
Pre Tax Margin(%) 1.31 0.59 1.01 1.21 1.5 1.72 2.75 1.82 1.82 8.47 8.96
PAT Margin (%) 0.99 0.4 0.72 0.85 1.23 0.76 2.6 1.26 1.37 6.12 6.32
Cash Profit Margin (%) 4.16 2.61 3.73 3.59 3.67 3.31 6.08 4.27 3.86 9.14 9.09
ROA(%) 1.54 0.62 1.1 1.34 1.92 0.83 2.02 2.09 2.19 7.38 6.7
ROE(%) 6.33 3.03 5.93 7.21 9.72 5.1 18.36 14.56 11.73 31.84 24.86
ROCE(%) 8.89 6.96 8.67 9.62 10.13 7.24 6.23 9.6 9.05 17.69 16.57
Receivable days 76.47 79.9 98.13 102.92 94.57 103.1 122.65 69.73 82.26 117.16 117.27
Inventory Days 28.45 27.2 20.76 22.5 37.31 42.09 57.9 35.51 38.11 45.18 50.43
Payable days 35.59 27.64 23.32 29.91 26.38 25.73 35.81 30.18 34.01 32.72 38.6
PER(x) 0 0 0 0 0 0 0 0 0 0 0
Price/Book(x) 0 0 0 0 0 0 0 0 0 0 0
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.45 0.53 0.48 0.41 0.44 0.84 1.31 0.41 0.42 0.59 0.65
EV/Core EBITDA(x) 5.69 8.73 5.94 5.39 5.74 10.28 12.38 5.28 5.95 4.12 4
Net Sales Growth(%) 22.23 30.09 13.29 15.7 2.78 -8.71 18.27 201.91 11.76 -15 7.63
EBIT Growth(%) 22.04 3.51 48.83 14.74 11.4 -0.77 48.88 106.03 4.99 135.88 15.94
PAT Growth(%) -3.51 -47.41 104.47 29.79 46.65 -43.64 306.22 46.89 20.71 281.01 11.07
EPS Growth(%) -12.94 -47.41 104.47 29.79 46.65 -43.64 306.22 -12.8 20.71 243.11 11.07
Debt/Equity(x) 2.18 3.32 3.28 3.07 3.03 5.37 8.41 3.29 3.32 2.33 2.14
Current Ratio(x) 1.39 1.48 1.36 1.41 1.35 1.49 1.51 1.31 1.23 1.22 1.35
Quick Ratio(x) 1.04 1.16 1.2 1.11 0.93 1.19 1.04 0.92 0.89 0.97 1.04
Interest Cover(x) 1.43 1.21 1.29 1.35 1.41 1.44 1.64 1.6 1.67 3.05 2.94
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0 0

Nikita Greentech Shareholding Pattern

# Sep 2025 Mar 2026
Promoter 58.95 58.95
FII 3.01 0.9
DII 0.07 0
Public 37.97 40.15
Others 0 0
Total 100 100

Nikita Greentech News

Nikita Greentech Pros & Cons

Pros

  • Company has delivered good profit growth of 87% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 23%

Cons

  • Debtor days have increased from 32.72 to 38.6days.
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