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Consolidated Standalone

Nitin Castings

₹602.8 -16.2 | 2.6%

Market Cap ₹310 Cr.

Stock P/E 25.4

P/B 4.5

Current Price ₹602.8

Book Value ₹ 134.9

Face Value 5

52W High ₹697.8

Dividend Yield 0.12%

52W Low ₹ 441.8

Edit Ratio

Nitin Castings Research see more...

Overview Inc. Year: 1982Industry: Castings/Forgings

Nitin Castings Ltd, formerly known as Nitin Alloys Global Ltd, is a manufacturer of alloy heat and corrosion-resistant castings. The Company is engaged in fabrication of heat and corrosion-resistant additives for diverse business programs using forged and wrought components, which include reformer tubes, cracking coils, radiant tubes and retorts. Its products and services include Centrifugal Castings, Static Castings, Fabrication and Materials of Construction. It manufactures centrifugal castings each by means of the horizontal and vertical procedures. It focuses on the producing of high alloy metallic castings for heat and corrosion resistant programs. The manufacturer of reformer tubes, cracking coils and outlet manifolds includes specialised welding. It manufactures castings in diverse grades of heat and corrosion resistant alloy steels, as well as in various alloys developed for diverse programs, consisting of corrosion-resistant solid steels and unique heat-resisting alloys.

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Nitin Castings Share Price

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Nitin Castings Quarterly Results

#(Fig in Cr.) Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Jun 2023 Sep 2023 Dec 2023
Net Sales 19 23 27 28 31 38 35 36 40 34
Other Income 0 1 0 0 0 -0 1 1 1 1
Total Income 19 24 28 28 31 38 35 37 41 35
Total Expenditure 17 21 26 26 29 35 32 32 36 31
Operating Profit 2 2 2 3 2 3 4 5 5 4
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 0 1 1 0 1 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 1 2 1 2 1 2 3 5 4 4
Provision for Tax 0 0 0 0 1 1 1 1 1 1
Profit After Tax 1 1 1 2 0 1 2 4 3 3
Adjustments 0 0 0 0 0 0 0 0 0 -0
Profit After Adjustments 1 1 1 2 0 1 2 4 3 3
Adjusted Earnings Per Share 2.1 2.7 2.1 3.2 0.7 2.8 4.7 7 6.2 5.8

Nitin Castings 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 35 36 42 64 61 58 74 64 62 97 133 145
Other Income 0 0 0 0 1 1 2 1 2 2 1 4
Total Income 35 37 42 65 62 58 76 65 63 99 134 148
Total Expenditure 31 34 39 60 56 53 67 58 56 90 124 131
Operating Profit 4 2 3 5 6 6 9 8 7 9 11 18
Interest 1 0 0 1 1 1 1 1 1 0 0 0
Depreciation 1 1 1 4 4 4 4 4 2 2 2 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 2 1 2 0 2 1 3 2 4 7 9 16
Provision for Tax 1 1 1 0 1 0 1 0 1 1 4 4
Profit After Tax 1 1 1 0 1 1 2 1 3 5 5 12
Adjustments 0 0 0 0 0 0 -0 0 0 0 0 0
Profit After Adjustments 1 1 1 0 1 1 2 1 3 5 5 12
Adjusted Earnings Per Share 5.1 3.2 4 0.1 2.3 1.6 4.5 2.5 6.3 10 9.5 23.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 37% 28% 18% 14%
Operating Profit CAGR 22% 11% 13% 11%
PAT CAGR 0% 71% 38% 17%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 36% 106% 51% 39%
ROE Average 9% 8% 7% 5%
ROCE Average 14% 12% 10% 8%

Nitin Castings 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 21 22 22 42 43 44 46 47 50 55 60
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 0 0 0 0 2 7 8 5 0 0 0
Other Non-Current Liabilities 1 1 1 1 1 1 1 0 0 0 2
Total Current Liabilities 12 6 10 18 19 22 18 16 16 22 30
Total Liabilities 35 30 34 61 66 74 72 67 67 78 92
Fixed Assets 12 12 11 21 18 30 30 26 24 23 22
Other Non-Current Assets 2 2 2 6 12 3 3 2 1 1 1
Total Current Assets 20 16 21 34 37 41 39 39 41 54 69
Total Assets 35 30 34 61 66 74 72 67 67 78 92

Nitin Castings 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 1 4 0 1 1 1 2 4 2 0 2
Cash Flow from Operating Activities 2 2 1 1 3 6 10 10 15 1 1
Cash Flow from Investing Activities -0 -3 -3 -1 -3 -7 -4 -5 -12 -2 -8
Cash Flow from Financing Activities 2 -4 2 -1 1 2 -4 -7 -5 2 6
Net Cash Inflow / Outflow 4 -4 0 -0 0 1 2 -2 -1 2 -1
Closing Cash & Cash Equivalent 4 0 1 0 1 2 4 2 0 2 1

Nitin Castings 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) 5.1 3.16 3.96 0.1 2.29 1.64 4.55 2.55 6.34 10.04 9.51
CEPS(Rs) 8.12 6.13 7.49 13.88 9.63 9.15 12.93 11.3 10.64 13.93 13.02
DPS(Rs) 0 0 0.5 0.38 0.5 0.5 0.5 0 0.5 0.5 0.75
Book NAV/Share(Rs) 76.49 79.64 79.16 78.81 84.48 85.79 89.2 91.27 97.81 107.41 116.54
Core EBITDA Margin(%) 8.95 4.98 5.56 6.27 8.31 8.23 9.66 9.97 8.97 6.8 7.12
EBIT Margin(%) 7.05 4.02 4.1 1.41 3.86 3.07 6.28 4.84 7.85 6.96 6.45
Pre Tax Margin(%) 5.46 3.46 3.5 0.12 2.52 1.5 4.5 2.55 6.22 6.7 6.32
PAT Margin (%) 3.69 2.17 2.35 0.04 1.72 1.42 3.17 2.01 5.18 5.3 3.63
Cash Profit Margin (%) 5.86 4.23 4.45 5.46 7.22 7.91 9.01 8.92 8.7 7.35 4.97
ROA(%) 4.42 2.76 3.51 0.06 1.85 1.2 3.21 1.89 4.86 7.12 5.75
ROE(%) 6.9 4.04 4.98 0.12 3.59 1.92 5.2 2.82 6.7 9.78 8.5
ROCE(%) 10.11 6.13 7.44 2.56 5.05 3.28 7.97 5.58 9.1 11.99 13.5
Receivable days 63.41 66.76 53.83 50.98 64.8 69.24 57.84 59.32 55.11 41.89 33.89
Inventory Days 62.28 55.5 53.6 57.19 79.92 111.98 90.56 97.04 92.33 60.96 62.12
Payable days 37.04 29.22 29.24 38.55 33.43 50.7 50.62 59.6 61.22 50.71 46.01
PER(x) 3.43 6.18 7.58 281.99 22.9 32.65 16.71 27.28 9.71 12.64 25.81
Price/Book(x) 0.23 0.24 0.38 0.35 0.62 0.62 0.85 0.76 0.63 1.18 2.11
Dividend Yield(%) 0 0 1.67 1.36 0.95 0.93 0.66 0 0.81 0.39 0.31
EV/Net Sales(x) 0.23 0.21 0.31 0.25 0.58 0.68 0.65 0.65 0.56 0.69 1.01
EV/Core EBITDA(x) 2.19 3.14 4.44 3.25 5.52 6.89 5.35 5.44 4.87 7.58 12.85
Net Sales Growth(%) 0.47 4.8 15.85 52.9 -4.4 -6.46 28.23 -13.12 -3.3 55.75 38.2
EBIT Growth(%) -8.98 -40.2 18.33 -48.05 162.75 -31.16 154.3 -32.01 56.5 37.41 28.35
PAT Growth(%) 1.17 -38.16 25.39 -97.53 4192.27 -28.39 177.38 -43.95 148.65 58.4 -5.2
EPS Growth(%) 1.17 -38.16 25.39 -97.53 2242.58 -28.4 177.39 -43.95 148.65 58.4 -5.2
Debt/Equity(x) 0.34 0.11 0.23 0.42 0.23 0.31 0.28 0.16 0.07 0.07 0.16
Current Ratio(x) 1.62 2.61 2.08 1.89 1.9 1.88 2.19 2.49 2.58 2.39 2.28
Quick Ratio(x) 1.08 1.68 1.26 1.1 1.09 0.94 1.29 1.29 1.76 1.52 1.4
Interest Cover(x) 4.42 7.16 6.83 1.09 2.89 1.95 3.51 2.12 4.84 26.83 47.17
Total Debt/Mcap(x) 1.47 0.44 0.61 1.21 0.37 0.5 0.32 0.21 0.12 0.06 0.08

Nitin Castings Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 71.39 71.39 71.39 64.48 71.39 71.39 71.39 71.39 71.39 71.39
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 28.61 28.61 28.61 35.52 28.61 28.61 28.61 28.61 28.61 28.61
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 37% CAGR over last 5 years
  • Debtor days have improved from 50.71 to 46.01days.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of 8% over the last 3 years.
  • Stock is trading at 4.5 times its book value.

* 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.

Nitin Castings News

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