Nitco

₹80.6 1.6 | 2%

WEBSITE BSE:532722 NSE : NITCO TILES 18 May, 12:50

Market Cap ₹579 Cr.

Stock P/E -3.9

P/B -1.3

Current Price ₹80.6

Book Value ₹ -63.9

Face Value 10

52W High ₹81.5

Dividend Yield 0%

52W Low ₹ 16.9

Edit Ratio

Nitco Research see more...

Overview Inc. Year: 1966Industry: Ceramics/Marble/Granite/Sanitaryware

Nitco Limited is a public company that manufactures and supplies tiles, marble, mosaic and metal craft products It was founded in 1953 by Pran Nath Talwar, who is the chairman emeritus of the company. They have an in-house design studio and two state-of-the-art manufacturing facilities in Alibaug and Silvassa. It offers a wide range of tiles and marble collections, inspired by nature, art and technology. The company is certified with ISO 9001:2015, ISO 14001:2015 and OHSAS 18001:2007 for maintaining highest quality, environmental and safety standards.Their vision is to improve the quality and design of products continuously and to increase customer focus.The company’s promoters hold 53.02% of the shareholding, with Vivek Prannath Talwar holding 8.8% and Aurella Estates and Investments Pvt Ltd holding 35.73%.

Nitco Share Price

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Price: NSE50 DMA200 DMAVolume

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Peer Comparison

Nitco Quarterly Results

#(Fig in Cr.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	90	120	121	91	74	113	106	92	81	80
Other Income	5	0	1	2	1	1	1	2	2	1
Total Income	95	121	121	93	76	113	107	94	82	81
Total Expenditure	99	127	135	98	86	115	122	97	83	95
Operating Profit	-3	-6	-13	-6	-10	-2	-15	-3	-0	-14
Interest	16	17	16	17	19	19	19	22	24	24
Depreciation	8	8	7	7	7	7	7	7	7	7
Exceptional Income / Expenses	0	0	0	-9	0	-6	-1	0	0	0
Profit Before Tax	-27	-31	-37	-39	-36	-34	-42	-32	-32	-45
Provision for Tax	0	0	0	0	0	0	0	0	0	0
Profit After Tax	-27	-31	-37	-39	-36	-34	-42	-33	-32	-45
Adjustments	0	0	-0	0	0	0	-0	0	0	2
Profit After Adjustments	-27	-31	-37	-39	-36	-34	-42	-33	-32	-44
Adjusted Earnings Per Share	-3.7	-4.2	-5.2	-5.4	-5	-4.8	-5.9	-4.6	-4.4	-6.1

Nitco Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	854	831	885	832	716	610	595	460	327	411	384	359
Other Income	2	2	2	2	2	5	2	9	3	7	5	6
Total Income	855	833	887	833	718	615	597	469	330	418	388	364
Total Expenditure	890	845	883	813	692	606	596	557	376	450	421	397
Operating Profit	-35	-12	4	20	26	9	0	-88	-46	-32	-33	-32
Interest	154	150	50	12	8	14	22	23	54	64	73	89
Depreciation	42	47	70	63	50	81	39	31	31	30	29	28
Exceptional Income / Expenses	0	0	0	-3	0	248	0	70	0	0	-16	-1
Profit Before Tax	-231	-209	-116	-57	-32	162	-61	-71	-130	-126	-151	-151
Provision for Tax	5	2	2	1	1	-23	-1	1	10	0	0	0
Profit After Tax	-236	-211	-118	-58	-34	185	-60	-72	-140	-126	-151	-152
Adjustments	0	-0	-1	-2	0	4	6	25	3	0	0	2
Profit After Adjustments	-236	-211	-119	-60	-33	189	-54	-47	-137	-126	-151	-151
Adjusted Earnings Per Share	-72.3	-38.6	-21.8	-11	-6.1	26.3	-7.5	-6.6	-19	-17.6	-21	-21

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-7%	-6%	-9%	-8%
Operating Profit CAGR	0%	0%	NAN%	0%
PAT CAGR	0%	0%	NAN%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	357%	56%	18%	18%
ROE Average	0%	0%	-28%	111%
ROCE Average	-14%	-11%	-9%	-4%

Nitco Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	272	90	-38	-98	-129	165	112	64	-73	-198	-349
Minority's Interest	16	16	17	19	21	17	11	-14	-17	-17	-17
Borrowings	1157	888	792	661	470	820	749	558	457	200	200
Other Non-Current Liabilities	78	72	31	31	26	3	2	2	3	2	3
Total Current Liabilities	178	589	747	917	1097	342	434	419	553	837	935
Total Liabilities	1701	1655	1550	1531	1485	1348	1308	1028	923	871	818
Fixed Assets	818	782	712	666	624	548	518	458	396	368	341
Other Non-Current Assets	60	57	63	59	58	56	76	58	54	54	54
Total Current Assets	823	816	775	806	804	743	713	513	473	419	391
Total Assets	1701	1655	1550	1531	1485	1348	1308	1028	923	871	818

Nitco Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	58	38	29	25	25	21	18	16	11	13	12
Cash Flow from Operating Activities	-279	51	11	9	31	370	25	35	12	5	3
Cash Flow from Investing Activities	-120	-14	-0	-11	-10	-6	-11	-4	-2	4	-0
Cash Flow from Financing Activities	396	-46	-15	4	-25	-367	-16	-36	-8	-9	-3
Net Cash Inflow / Outflow	-3	-9	-4	1	-4	-3	-2	-5	2	-0	-1
Closing Cash & Cash Equivalent	38	29	25	25	21	18	16	11	13	12	11

Nitco Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	-72.28	-38.59	-21.82	-11	-6.1	26.29	-7.47	-6.6	-19.05	-17.55	-21.05
CEPS(Rs)	-59.34	-29.88	-8.86	0.77	2.95	36.92	-2.9	-5.8	-15.2	-13.38	-16.98
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	74.8	16.49	-6.87	-17.92	-23.64	20.56	13.11	8.87	-10.1	-27.6	-48.6
Core EBITDA Margin(%)	-4.11	-1.58	0.24	2.14	3.19	0.58	-0.29	-20.98	-14.89	-9.57	-9.73
EBIT Margin(%)	-8.69	-6.85	-7.15	-5.21	-3.23	28.52	-6.55	-10.37	-23.33	-15.05	-20.3
Pre Tax Margin(%)	-26.15	-24.21	-12.64	-6.6	-4.35	26.23	-10.32	-15.41	-39.73	-30.72	-39.42
PAT Margin (%)	-26.7	-24.39	-12.89	-6.74	-4.5	29.94	-10.1	-15.68	-42.8	-30.72	-39.42
Cash Profit Margin (%)	-21.92	-18.91	-5.28	0.49	2.16	43	-3.5	-9.05	-33.4	-23.41	-31.79
ROA(%)	-13.58	-12.57	-7.38	-3.79	-2.22	13.04	-4.52	-6.18	-14.34	-14.06	-17.91
ROE(%)	-65.25	-126.26	-449.18	0	0	2007.78	-49.65	-91.41	0	0	0
ROCE(%)	-5.68	-4.11	-4.88	-3.53	-1.96	15.65	-3.82	-5.33	-10.32	-9.54	-13.63
Receivable days	39.49	47.52	50.62	59.37	75.21	104.35	126.59	140.57	136.52	87.26	81.15
Inventory Days	259.82	228.89	204.31	210.46	244.76	254.14	215.88	247.77	305.37	229.72	240.7
Payable days	218.66	99.67	121.37	143.14	159.27	197.21	196.18	195.9	211.78	150.04	179.34
PER(x)	0	0	0	0	0	3.52	0	0	0	0	0
Price/Book(x)	0.16	0.92	-2.48	-2.18	-2.47	4.5	2.96	1.42	-1.89	-0.83	-0.4
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	1.43	1.63	1.59	1.85	2.28	2.42	1.86	1.76	2.69	2.35	2.62
EV/Core EBITDA(x)	-35.39	-114.31	336.92	76.97	63.77	170.84	4014.76	-9.26	-19.31	-30.3	-30.73
Net Sales Growth(%)	-9.13	-2.63	6.48	-6.04	-13.93	-14.83	-2.47	-22.56	-28.99	25.59	-6.56
EBIT Growth(%)	-518.92	22.76	-10.71	31.33	46.6	831.46	-122.14	-22.59	-59.77	18.98	-26.01
PAT Growth(%)	-314.48	10.51	43.94	50.66	42.48	650.66	-132.51	-20.22	-93.82	9.86	-19.91
EPS Growth(%)	-314.48	46.62	43.46	49.57	44.56	530.97	-128.41	11.58	-188.49	7.84	-19.91
Debt/Equity(x)	5.01	14.39	-35.58	-13.78	-10.32	5.95	9.39	11.49	-10.41	-4.09	-2.52
Current Ratio(x)	4.61	1.39	1.04	0.88	0.73	2.17	1.64	1.22	0.86	0.5	0.42
Quick Ratio(x)	1.5	0.49	0.37	0.33	0.28	1.12	0.85	0.55	0.37	0.2	0.15
Interest Cover(x)	-0.5	-0.39	-1.3	-3.73	-2.9	12.45	-1.74	-2.06	-1.42	-0.96	-1.06
Total Debt/Mcap(x)	31.23	15.66	14.37	6.31	4.18	1.32	3.17	8.09	5.52	4.91	6.34

Nitco Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	53.02	53.02	53.02	53.02	53.02	53.02	53.02	53.02	50.18	47.93
FII	0.01	0	0	0	0	0	0	0.02	0.02	0.14
DII	23.88	23.88	23.88	23.88	23.88	23.67	22.93	16.07	15.89	15.2
Public	23.09	23.1	23.1	23.1	23.1	23.32	24.05	30.89	33.9	36.73
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	3.81	3.81	3.81	3.81	3.81	3.81	3.81	3.81	3.61	3.44
FII	0	0	0	0	0	0	0	0	0	0.01
DII	1.72	1.72	1.72	1.72	1.72	1.7	1.65	1.15	1.14	1.09
Public	1.66	1.66	1.66	1.66	1.66	1.68	1.73	2.22	2.44	2.64
Others	0	0	0	0	0	0	0	0	0	0
Total	7.19	7.19	7.19	7.19	7.19	7.19	7.19	7.19	7.19	7.19

Pros

Stock is trading at -1.3 times its book value
Company is almost debt free.

Cons

Promoter holding is low: 47.93%.
Company has a low return on equity of 0% over the last 3 years.
Debtor days have increased from 150.04 to 179.34days.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Nitco

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Nitco Research see more...

Overview Inc. Year: 1966Industry: Ceramics/Marble/Granite/Sanitaryware

Nitco Share Price

Alert Data

Quarterly Price

Peer Comparison

Nitco Quarterly Results

Nitco Profit & Loss

Growth Rates

Nitco Balance Sheet

Nitco Cash Flow

Nitco Ratios

Nitco Shareholding Pattern

Nitco News

Top Unlisted Companies & InstaBuy Companies

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