WEBSITE BSE:0 NSE: Inc. Year: 1989 Industry: Paper & Paper Products My Bucket: Add Stock
Last updated: 15:23
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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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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
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) |
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| 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 |
| #(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 |
| # | 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% |
| #(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 |
| #(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 |
| # | 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 |
| # | 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 |
| # | Sep 2025 | Mar 2026 |
|---|---|---|
| Promoter | 1.45 | 1.45 |
| FII | 0.07 | 0.02 |
| DII | 0 | 0 |
| Public | 0.94 | 0.99 |
| Others | 0 | 0 |
| Total | 2.47 | 2.47 |
* The pros and cons are machine generated.
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