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Niraj Ispat Inds. Overview

1. Business Overview

Niraj Ispat Industries Ltd. is an Indian company operating within the Plastic Products sector and industry. While specific product details are not provided, it is engaged in the manufacturing, processing, or trading of various plastic-based goods. The core business model likely revolves around producing plastic components or finished goods for industrial applications, consumer markets, or packaging solutions. Revenue is generated through the sale of these plastic products to its customer base.

2. Key Segments / Revenue Mix

Information regarding specific business segments or a detailed revenue mix for Niraj Ispat Industries Ltd. is not publicly available. Based on the provided industry classification, it is inferred that the company primarily operates within a single business segment, focusing on plastic products.

3. Industry & Positioning

The plastic products industry in India is characterized by its significant contribution to the manufacturing sector, driven by robust demand from packaging, automotive, construction, and consumer goods industries. It is a diverse and often fragmented market with a mix of large integrated players and numerous smaller, regional manufacturers. Without specific product lines, Niraj Ispat's exact positioning is unclear, but it likely competes on factors such as cost-efficiency, product quality, customization capabilities, and regional market reach against a range of domestic and potentially international competitors.

4. Competitive Advantage (Moat)

Based solely on the provided information, a strong, clear competitive advantage or "moat" for Niraj Ispat Industries Ltd. is not immediately apparent. In the general plastic products industry, potential advantages could stem from cost leadership through efficient operations and procurement, niche product specialization, strong customer relationships, or geographical proximity to key markets. However, without specific details, it is difficult to determine if the company possesses any durable advantages like brand equity, significant scale, proprietary technology, or high switching costs for its customers.

5. Growth Drivers

Key factors that could drive growth for Niraj Ispat Industries Ltd. over the next 3-5 years include:

Economic Growth & Urbanization: Increasing disposable incomes and evolving consumption patterns in India fuel demand for packaged goods and various plastic products.

Growth in End-User Industries: Continued expansion in sectors like packaging, automotive, consumer durables, and construction will increase demand for plastic components and products.

Technological Advancements: Adoption of new manufacturing technologies or material innovations could enhance product quality, reduce costs, or open new market opportunities.

Product Diversification/Expansion: Entry into new product categories or geographic markets could expand revenue streams.

6. Risks

Key business risks for Niraj Ispat Industries Ltd. include:

Raw Material Price Volatility: Plastic manufacturing heavily relies on crude oil derivatives (polymers, resins), making the company susceptible to fluctuations in global oil prices.

Environmental Regulations & Public Perception: Increasing regulatory scrutiny on plastic usage, waste management, and single-use plastics, along with changing consumer preferences, could impact demand and operational costs.

Intense Competition: The fragmented nature of the plastic products industry leads to intense competition, potentially pressuring pricing and profit margins.

Economic Slowdown: A general downturn in the Indian economy could reduce demand from end-user industries.

Supply Chain Disruptions: Dependency on specific suppliers for raw materials or distribution networks can pose risks.

7. Management & Ownership

Niraj Ispat Industries Ltd., like many Indian companies, is likely promoter-led. Specific details regarding the promoters, management team's experience, or specific corporate governance practices are not provided. The ownership structure typically involves the founding family or group holding a significant stake, with the remaining shares held by public shareholders.

8. Outlook

Niraj Ispat Industries Ltd. operates in a growing but challenging Indian plastic products market. The bull case hinges on the continued robust growth of India's economy and its major end-use industries, which will drive demand for plastic products. Operational efficiencies, potential product innovation, or strategic market positioning could enable the company to capture a larger share and improve profitability. The bear case involves significant exposure to raw material price volatility, increasing environmental regulations and potential shifts away from certain plastic applications, and intense competition from both organized and unorganized players. The company's future performance will largely depend on its ability to navigate these industry-specific challenges while capitalizing on the broader economic growth trends.

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Niraj Ispat Inds. Key Financials

Market Cap ₹13 Cr.

Stock P/E 9.9

P/B 0.8

Current Price ₹219.7

Book Value ₹ 259

Face Value 10

52W High ₹612.5

Dividend Yield 0%

52W Low ₹ 155

Niraj Ispat Inds. Share Price

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Volume
Price

Niraj Ispat Inds. Quarterly Price

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Niraj Ispat Inds. Peer Comparison

Niraj Ispat Inds. 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 1 1 1 1 1 1 1 1 1 1
Other Income 0 0 0 0 0 0 0 0 0 0
Total Income 1 1 1 1 1 1 1 1 1 1
Total Expenditure 1 1 1 1 1 1 1 1 1 1
Operating Profit 0 0 0 0 1 0 1 1 1 1
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 0 0 0 0 0 1 1 1 1
Provision for Tax 0 0 0 0 0 0 0 0 0 0
Profit After Tax 0 0 0 0 0 0 0 0 0 0
Adjustments 0 -0 0 -0 -0 -0 0 -0 0 -0
Profit After Adjustments 0 0 0 0 0 0 0 0 0 0
Adjusted Earnings Per Share 3.9 3.6 2.7 4.6 5.9 6.8 5 6.7 7.2 6.7

Niraj Ispat Inds. 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 7 7 7 7 6 5 4 5 6 3 4 4
Other Income 0 1 1 1 0 1 0 0 1 1 1 0
Total Income 7 7 8 7 6 6 4 5 6 4 5 4
Total Expenditure 5 5 6 5 5 4 3 4 4 3 3 4
Operating Profit 2 2 2 2 1 1 1 1 2 1 2 4
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses -0 -0 -0 0 0 0 0 0 0 0 0 0
Profit Before Tax 1 1 1 1 1 1 0 1 2 1 2 4
Provision for Tax 0 0 0 0 0 0 0 0 1 0 0 0
Profit After Tax 1 1 1 1 1 1 0 1 2 1 1 0
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments 1 1 1 1 1 1 0 1 2 1 1 0
Adjusted Earnings Per Share 12.1 16.1 15.2 16 10.9 8.7 5.8 12.5 27.8 13.5 22.3 25.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 33% -7% -4% -5%
Operating Profit CAGR 100% 26% 15% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -18% NA% NA% NA%
ROE Average 10% 10% 8% 10%
ROCE Average 11% 12% 10% 10%

Niraj Ispat Inds. 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 5 6 7 8 9 9 10 10 12 13 14
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 5 7 6 6 6 3 3 1 1 1 4
Other Non-Current Liabilities 0 0 0 0 0 0 0 0 0 0 0
Total Current Liabilities 3 3 3 2 1 1 1 2 1 1 2
Total Liabilities 13 16 16 16 16 14 14 14 15 15 20
Fixed Assets 2 3 3 3 2 2 2 2 1 1 1
Other Non-Current Assets 0 0 0 0 0 0 0 0 0 0 0
Total Current Assets 11 13 13 14 14 12 12 12 13 14 19
Total Assets 13 16 16 16 16 14 14 14 15 15 20

Niraj Ispat Inds. 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 0 0 0 0 0 0 0 0 0 0 0
Cash Flow from Operating Activities -0 -0 1 -1 0 2 0 1 -1 -1 -4
Cash Flow from Investing Activities -0 -0 -0 0 0 1 0 0 1 1 1
Cash Flow from Financing Activities 1 1 -1 0 -0 -3 -0 -2 -0 0 3
Net Cash Inflow / Outflow 0 -0 -0 0 0 -0 0 -0 -0 -0 0
Closing Cash & Cash Equivalent 0 0 0 0 0 0 0 0 0 0 0

Niraj Ispat Inds. 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) 12.05 16.05 15.21 15.99 10.92 8.71 5.78 12.55 27.8 13.5 22.26
CEPS(Rs) 17.3 20.13 20.15 21.17 15.98 13.78 10.54 15.37 30.6 16.29 25.07
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 86.33 102.38 117.59 136.9 147.82 156.54 162.32 174.86 202.66 216.16 238.43
Core EBITDA Margin(%) 18.74 20.13 21.54 18.46 15.47 12.41 8.65 15.95 30.59 14.05 24.19
EBIT Margin(%) 19.9 24.06 24.41 23.1 18.49 18.23 14.25 21.93 40.22 34.11 48.26
Pre Tax Margin(%) 15.03 19.66 19.41 19.4 14.22 15.44 12.78 20.68 40 33.78 48
PAT Margin (%) 10.51 13.84 12.69 14.62 11 10.46 9.73 15.44 29.95 24.84 35.94
Cash Profit Margin (%) 15.08 17.34 16.81 19.36 16.1 16.54 17.75 18.92 32.97 29.96 40.48
ROA(%) 6.11 6.73 5.82 5.96 4 3.44 2.45 5.33 11.53 5.35 7.52
ROE(%) 14.96 17.02 13.83 12.56 7.67 5.73 3.63 7.44 14.73 6.45 9.79
ROCE(%) 13.16 13.68 13.32 10.89 7.37 6.5 3.96 8.66 17.63 7.96 10.78
Receivable days 34.8 47.6 42.48 38.71 55.05 58.03 65.91 56.52 51.69 63.45 47.93
Inventory Days 26.68 18.5 22.04 17.14 10.45 12.43 24.63 18.42 15.56 28.52 27.32
Payable days 84.54 156.48 161.01 127.07 83.38 84.51 141.7 155.59 170.01 182.35 161.45
PER(x) 0 0 0 0 0 0 0 0 0 14.17 0
Price/Book(x) 0 0 0 0 0 0 0 0 0 0.89 0
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.93 1.07 0.94 1.07 1.13 0.79 0.99 0.39 0.35 3.96 1.38
EV/Core EBITDA(x) 3.7 3.75 3.2 3.81 4.81 3.27 4.43 1.54 0.82 10.09 2.62
Net Sales Growth(%) 16.95 1.26 3.34 -7.62 -8.6 -16.12 -28.66 36.72 14.28 -41.43 13.91
EBIT Growth(%) 63.07 22.33 4.77 -13.67 -27.31 -17.29 -44.26 110.42 109.62 -50.34 61.19
PAT Growth(%) 119.26 33.23 -5.28 5.12 -31.66 -20.25 -33.66 117.04 121.6 -51.43 64.86
EPS Growth(%) 119.26 33.23 -5.28 5.12 -31.66 -20.25 -33.66 117.04 121.6 -51.43 64.86
Debt/Equity(x) 1.17 1.15 0.86 0.79 0.71 0.37 0.32 0.13 0.11 0.11 0.32
Current Ratio(x) 4.21 5.08 4.8 9.03 15.29 11.44 10.2 6 10.63 14.09 12.35
Quick Ratio(x) 4.13 4.89 4.66 8.87 15.18 11.21 9.99 5.88 10.44 13.8 12.17
Interest Cover(x) 4.08 5.46 4.88 6.25 4.33 6.53 9.69 17.58 179.22 105.59 183.08
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0 0.13 0

Niraj Ispat Inds. Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 74.58 74.58 74.58 74.43 74.43 74.42 74.42 74.44 74.44 74.44
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 25.42 25.42 25.42 25.57 25.57 25.58 25.58 25.56 25.56 25.56
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Niraj Ispat Inds. News

Niraj Ispat Inds. Pros & Cons

Pros

  • Stock is trading at 0.8 times its book value
  • Debtor days have improved from 182.35 to 161.45days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 10% over the last 3 years.
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