WEBSITE BSE:512425 NSE: NIRAV COMMER Inc. Year: 1985 Industry: Aluminium & Aluminium Products My Bucket: Add Stock
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1. Business Overview
Nirav Commercials Ltd. operates in the Aluminium & Aluminium Products sector in India. Based on its sector classification, the company is primarily involved in the trading, distribution, or potentially light manufacturing/processing of aluminium and its related products. Its core business model likely revolves around sourcing aluminium products and supplying them to various industrial or commercial clients, generating revenue through sales margins.
2. Key Segments / Revenue Mix
Specific information regarding key business segments or a detailed revenue mix for Nirav Commercials Ltd. is not publicly available. The company is primarily categorized under a single industry segment: Aluminium & Aluminium Products.
3. Industry & Positioning
The Aluminium & Aluminium Products industry in India is a foundational sector, supporting various downstream industries like construction, automotive, packaging, electrical, and consumer durables. It is often cyclical and commodity-driven, sensitive to global aluminium prices, raw material costs, and overall economic growth. Without specific market share data or production capacity details, Nirav Commercials Ltd.'s precise positioning relative to larger integrated players or niche competitors is not discernible. It likely operates as a smaller player, potentially focused on specific regional markets or product types within the broader aluminium value chain.
4. Competitive Advantage (Moat)
Based solely on the provided information, Nirav Commercials Ltd. does not exhibit clear, durable competitive advantages typically associated with a "moat" (e.g., strong brand recognition, proprietary technology, vast economies of scale, or high switching costs). Companies in this commodity-oriented sector often compete on price, operational efficiency, supply chain management, customer relationships, and geographic reach. Any advantage it possesses would likely stem from efficient procurement, effective distribution networks, or established client relationships rather than a proprietary edge.
5. Growth Drivers
Infrastructure Development: Government initiatives and investments in infrastructure (roads, railways, smart cities) drive demand for aluminium in construction and related applications.
Automotive Sector Growth: Increasing vehicle production and the trend towards lightweighting in automobiles boost demand for aluminium components.
Urbanization and Industrialization: Growing urban populations and industrial expansion increase overall consumption of aluminium products for various uses.
Diversification of Product Offerings: Expanding into new aluminium product categories or value-added processing could open new markets.
Export Opportunities: Tapping into international markets for aluminium products could provide additional revenue streams.
6. Risks
Commodity Price Volatility: Fluctuations in global aluminium prices directly impact raw material costs and sales realizations, affecting profitability.
Economic Downturns: A slowdown in the Indian or global economy can reduce demand from end-user industries, impacting sales volumes.
Intense Competition: The sector is competitive with numerous domestic and international players, leading to pricing pressure.
Raw Material Availability & Cost: Dependence on a consistent supply of primary aluminium or scrap at competitive prices is crucial.
Regulatory Changes: Changes in environmental regulations, import/export duties, or trade policies could affect operations and profitability.
Supply Chain Disruptions: Issues in logistics, transportation, or raw material sourcing can impact operational efficiency.
7. Management & Ownership
Specific details regarding the promoters, management team's experience, or detailed ownership structure (e.g., breakdown between promoter holding, institutional, and public) are not provided. Without this information, a qualitative assessment of management quality or governance structure cannot be made.
8. Outlook
Nirav Commercials Ltd. operates within a critical industrial sector that is poised to benefit from India's long-term economic growth, infrastructure push, and rising industrialization. The growing demand from key end-user segments like automotive and construction provides a positive demand backdrop. However, the company faces inherent challenges associated with a commodity-driven business, including price volatility, intense competition, and sensitivity to economic cycles. Its future performance will largely depend on its ability to efficiently manage costs, navigate market fluctuations, maintain robust supply chains, and build strong customer relationships in a competitive landscape.
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Market Cap ₹35 Cr.
Stock P/E 802.9
P/B 1.2
Current Price ₹891
Book Value ₹ 771.7
Face Value 10
52W High ₹953.3
Dividend Yield 0%
52W Low ₹ 0
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(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 | 3 | 2 | 3 | 2 | 2 | 3 | 4 | 3 | 2 | 2 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 3 | 2 | 3 | 2 | 2 | 4 | 4 | 3 | 2 | 2 |
| Total Expenditure | 3 | 2 | 4 | 2 | 2 | 4 | 4 | 3 | 2 | 2 |
| Operating Profit | 1 | -0 | -2 | 0 | 0 | 0 | 0 | 0 | 0 | -0 |
| 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 | -2 | 0 | -0 | -0 | 0 | -0 | -0 | -0 |
| Provision for Tax | -0 | 0 | -0 | 0 | 0 | -0 | 0 | -0 | -0 | -0 |
| Profit After Tax | 0 | -0 | -2 | 0 | -0 | -0 | 0 | -0 | 0 | -0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | -0 | -2 | 0 | -0 | -0 | 0 | -0 | 0 | -0 |
| Adjusted Earnings Per Share | 12.3 | -4.9 | -48.2 | 0.8 | -0.5 | -3.6 | 5.1 | -2.3 | 2.1 | -4.9 |
| #(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 | 9 | 7 | 12 | 6 | 5 | 4 | 5 | 11 | 10 | 11 | 10 | 11 |
| Other Income | 0 | 0 | 0 | 9 | 1 | 1 | 10 | 1 | 1 | 1 | 1 | 0 |
| Total Income | 9 | 7 | 12 | 15 | 6 | 5 | 15 | 12 | 11 | 11 | 11 | 11 |
| Total Expenditure | 9 | 7 | 11 | 6 | 6 | 5 | 6 | 11 | 10 | 11 | 10 | 11 |
| Operating Profit | 0 | 0 | 1 | 8 | 0 | 0 | 9 | 1 | 1 | 1 | 0 | 0 |
| 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 | 0 | 0 | 1 | 8 | 0 | 0 | 9 | 1 | 1 | 0 | 0 | 0 |
| Provision for Tax | 0 | 0 | 0 | 2 | -0 | 0 | 0 | -1 | 0 | 0 | -0 | 0 |
| Profit After Tax | 0 | 0 | 0 | 7 | 0 | 0 | 9 | 1 | 1 | 0 | 0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | 7 | 0 | 0 | 9 | 2 | 1 | 0 | 0 | 0 |
| Adjusted Earnings Per Share | 6.9 | 4.3 | 10.2 | 167.5 | 3.9 | 0.9 | 236.8 | 36.7 | 17.1 | 8.2 | 1.1 | 0 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -9% | -3% | 20% | 1% |
| Operating Profit CAGR | -100% | -100% | 0% | 0% |
| PAT CAGR | 0% | -100% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 10% | 23% | 27% | 24% |
| ROE Average | 0% | 1% | 10% | 10% |
| ROCE Average | 1% | 2% | 10% | 11% |
| #(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 | 10 | 10 | 11 | 17 | 18 | 17 | 27 | 29 | 29 | 30 | 30 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Other Non-Current Liabilities | 0 | -0 | -0 | -0 | -0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 1 | 1 | 2 | 2 | 2 | 1 | 1 | 1 | 2 | 2 | 2 |
| Total Liabilities | 11 | 11 | 13 | 19 | 19 | 19 | 28 | 30 | 31 | 32 | 34 |
| Fixed Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 |
| Other Non-Current Assets | 4 | 4 | 4 | 4 | 4 | 4 | 1 | 14 | 12 | 24 | 25 |
| Total Current Assets | 6 | 7 | 8 | 15 | 15 | 15 | 26 | 16 | 19 | 7 | 8 |
| Total Assets | 11 | 11 | 13 | 19 | 19 | 19 | 28 | 30 | 31 | 32 | 34 |
| #(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 | 2 | 0 |
| Cash Flow from Operating Activities | -0 | -0 | -0 | -0 | -0 | -10 | -11 | 14 | 4 | 4 | -0 |
| Cash Flow from Investing Activities | 0 | 0 | 0 | 0 | 0 | 9 | 11 | -14 | -3 | -6 | -1 |
| Cash Flow from Financing Activities | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 1 | 1 |
| Net Cash Inflow / Outflow | 0 | -0 | 0 | -0 | 0 | -0 | -0 | 0 | 1 | -2 | -0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 0 | 0 |
| # | 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) | 6.95 | 4.31 | 10.18 | 167.5 | 3.91 | 0.94 | 236.8 | 36.74 | 17.11 | 8.18 | 1.11 |
| CEPS(Rs) | 8.87 | 5.82 | 11.35 | 168.53 | 5.25 | 2.16 | 237.95 | 37.93 | 18.19 | 11.26 | 4.75 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 261.17 | 265.48 | 275.66 | 443.16 | 447.08 | 445.35 | 682.47 | 727.67 | 743.03 | 762.02 | 777.41 |
| Core EBITDA Margin(%) | 0.54 | -1.91 | 3.75 | -3.9 | -12.39 | -32.22 | -8.36 | -0.38 | 0.62 | -1.47 | -4.25 |
| EBIT Margin(%) | 4.1 | 2.99 | 5.95 | 133.76 | 3.11 | 1.37 | 177.63 | 6.43 | 9.51 | 5.02 | 2.84 |
| Pre Tax Margin(%) | 3.57 | 2.83 | 4.52 | 133.51 | 2.9 | 1.06 | 177.42 | 6.23 | 9.08 | 3.7 | 0.28 |
| PAT Margin (%) | 2.99 | 2.34 | 3.37 | 106.77 | 2.94 | 0.99 | 176.61 | 12.99 | 6.98 | 3.05 | 0.45 |
| Cash Profit Margin (%) | 3.82 | 3.16 | 3.76 | 107.42 | 3.95 | 2.27 | 177.47 | 13.41 | 7.41 | 4.2 | 1.92 |
| ROA(%) | 2.5 | 1.54 | 3.36 | 41.49 | 0.81 | 0.2 | 40.14 | 5.01 | 2.19 | 1.02 | 0.13 |
| ROE(%) | 2.69 | 1.64 | 3.76 | 46.6 | 0.88 | 0.21 | 41.99 | 5.21 | 2.33 | 1.09 | 0.14 |
| ROCE(%) | 3.65 | 2.07 | 6.62 | 58.39 | 0.93 | 0.29 | 42.24 | 2.58 | 3.17 | 1.79 | 0.9 |
| Receivable days | 53 | 59.47 | 66.76 | 131.38 | 77.75 | 83.14 | 77.68 | 42.06 | 64.89 | 58.13 | 50.13 |
| Inventory Days | 95.08 | 114.46 | 72.67 | 160.13 | 195.52 | 270.15 | 156.21 | 63.58 | 86.9 | 80.72 | 90.96 |
| Payable days | 13.57 | 17.9 | 30.13 | 109.87 | 98.5 | 77.89 | 16 | 6.12 | 37.59 | 33.57 | 18.09 |
| PER(x) | 32.83 | 25.92 | 22.97 | 1.37 | 60.62 | 0 | 1.49 | 10.67 | 27.6 | 79.21 | 773.59 |
| Price/Book(x) | 0.87 | 0.42 | 0.85 | 0.52 | 0.53 | 0 | 0.52 | 0.54 | 0.64 | 0.85 | 1.1 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.98 | 0.62 | 0.77 | 1.46 | 1.71 | 0.02 | 2.6 | 1.36 | 1.74 | 2.41 | 3.53 |
| EV/Core EBITDA(x) | 19.53 | 15.93 | 11.97 | 1.07 | 41.56 | 0.74 | 1.46 | 19.87 | 17.53 | 39.1 | 82.01 |
| Net Sales Growth(%) | 18.41 | -20.84 | 65.99 | -48.15 | -14.25 | -28.56 | 41.22 | 110.98 | -13.28 | 9.42 | -7.56 |
| EBIT Growth(%) | -30.42 | -42.18 | 226.53 | 1066.23 | -98.03 | -68.52 | 0 | -92.36 | 28.21 | -42.21 | -47.76 |
| PAT Growth(%) | -25.8 | -37.9 | 136.09 | 1544.84 | -97.66 | -75.96 | 0 | -84.48 | -53.43 | -52.21 | -86.43 |
| EPS Growth(%) | -25.8 | -37.9 | 136.09 | 1544.84 | -97.66 | -75.96 | 0 | -84.48 | -53.43 | -52.21 | -86.43 |
| Debt/Equity(x) | 0.01 | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.03 |
| Current Ratio(x) | 10.47 | 9.1 | 4.4 | 9.05 | 9.74 | 11.52 | 35.09 | 10.92 | 9 | 4.21 | 3.5 |
| Quick Ratio(x) | 6.5 | 6.16 | 3 | 7.34 | 7.96 | 9.38 | 32.7 | 9.5 | 7.8 | 2.86 | 2.84 |
| Interest Cover(x) | 7.79 | 17.69 | 4.15 | 526.32 | 14.96 | 4.35 | 826.22 | 31.84 | 22.2 | 3.79 | 1.11 |
| Total Debt/Mcap(x) | 0.01 | 0.02 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0.02 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 51.95 | 51.95 | 51.95 | 51.95 | 51.95 | 51.95 | 51.95 | 51.95 | 51.95 | 51.95 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 48.05 | 48.05 | 48.05 | 48.05 | 48.05 | 48.05 | 48.05 | 48.05 | 48.05 | 48.05 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
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