Nitin Castings Ltd

₹ 432 -9.99%

10 Aug 4:01 p.m.

About

Incorporated in 1982, Nitin Castings Ltd is in the business of manufacturing
Alloy Steel Casting in the range of static centrifugal and investment castings^[1]

Key Points

Business Overview:^[1]^[2]
NCL is a part of the Nitin group promoted by the Kedia family. Company manufactures Alloys Steel Castings (static and centrifugal)

Website BSE

Market Cap ₹ 222 Cr.
Current Price ₹ 432
High / Low ₹ 690 / 432
Stock P/E 20.0
Book Value ₹ 178
Dividend Yield 0.70 %
ROCE 15.5 %
ROE 12.7 %
Face Value ₹ 5.00

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Pros

Company has delivered good profit growth of 27.7% CAGR over last 5 years

Cons

Debtor days have increased from 40.1 to 49.3 days.
Working capital days have increased from 65.5 days to 143 days

* 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.

Peer comparison

Industrials Capital Goods Industrial Products Castings & Forgings

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Detailed Comparison with:

Quarterly Results

Figures in Rs. Crores

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	29.90	35.77	40.12	33.71	39.15	39.87	38.32	33.80	38.58	35.75	36.45	40.26	34.63
	28.04	32.13	36.43	30.76	34.07	35.27	34.31	31.22	35.18	30.24	34.08	38.54	30.87
Operating Profit	1.86	3.64	3.69	2.95	5.08	4.60	4.01	2.58	3.40	5.51	2.37	1.72	3.76
OPM %	6.22%	10.18%	9.20%	8.75%	12.98%	11.54%	10.46%	7.63%	8.81%	15.41%	6.50%	4.27%	10.86%
	0.22	1.39	0.83	1.38	-1.63	1.50	1.89	0.72	0.57	2.63	0.39	0.91	-0.37
Interest	0.04	0.03	0.03	0.04	0.09	0.10	0.08	0.13	0.12	0.15	0.15	0.26	0.23
Depreciation	0.40	0.40	0.40	0.43	0.47	0.48	0.52	0.55	0.52	0.55	0.58	0.59	0.60
Profit before tax	1.64	4.60	4.09	3.86	2.89	5.52	5.30	2.62	3.33	7.44	2.03	1.78	2.56
Tax %	57.93%	21.30%	22.00%	22.28%	19.72%	28.26%	20.57%	31.30%	26.43%	23.39%	27.09%	5.06%	31.64%
	0.69	3.63	3.19	3.00	2.31	3.96	4.20	1.80	2.45	5.71	1.48	1.69	1.75
EPS in Rs	1.34	7.06	6.20	5.84	4.49	7.70	8.17	3.50	4.77	11.11	2.88	3.29	3.40
Raw PDF

Profit & Loss

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	42	64	61	58	74	64	62	97	133	149	151	147
	39	60	56	53	66	58	56	90	124	133	135	134
Operating Profit	3	5	6	5	7	6	6	7	10	15	15	13
OPM %	7%	7%	9%	8%	10%	10%	9%	7%	7%	10%	10%	9%
	0	0	1	1	2	1	2	2	1	2	4	4
Interest	0	1	1	1	1	1	1	0	0	0	0	1
Depreciation	1	4	4	4	4	4	2	2	2	2	2	2
Profit before tax	2	0	2	1	3	2	4	7	9	15	17	14
Tax %	33%	75%	32%	4%	29%	22%	17%	21%	42%	21%	26%	23%
	1	0	1	1	2	1	3	5	5	12	12	11
EPS in Rs	3.96	0.11	2.31	1.65	4.55	2.55	6.34	10.04	9.51	23.59	24.14	20.68
Dividend Payout %	13%	350%	22%	31%	11%	0%	8%	5%	8%	13%	12%	0%

Compounded Sales Growth
10 Years:	9%
5 Years:	19%
3 Years:	3%
TTM:	-2%

Compounded Profit Growth
10 Years:	%
5 Years:	28%
3 Years:	31%
TTM:	7%

Stock Price CAGR
10 Years:	28%
5 Years:	35%
3 Years:	-5%
1 Year:	-34%

Return on Equity
10 Years:	10%
5 Years:	13%
3 Years:	15%
Last Year:	13%

Balance Sheet

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	1	1	3	3	3	3	3	3	3	3	3	3
Reserves	21	41	41	42	43	44	48	53	57	69	80	89
	5	9	10	14	13	7	4	4	10	5	8	14
	6	10	8	12	13	13	13	19	22	33	39	35
Total Liabilities	34	61	62	70	71	67	67	78	92	109	129	140
	11	21	18	30	30	26	24	23	22	25	30	33
CWIP	0	2	8	0	0	0	0	0	0	0	0	5
Investments	4	2	0	0	0	5	16	17	25	36	47	51
	19	36	36	40	41	36	27	38	45	48	52	51
Total Assets	34	61	62	70	71	67	67	78	92	109	129	140

Cash Flows

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1	1	3	6	10	10	15	1	1	17	18	9
	-3	-1	-3	-7	-4	-5	-12	-2	-8	-13	-19	-13
	2	-1	1	2	-4	-7	-5	2	6	-6	1	4
Net Cash Flow	0	-0	0	1	2	-2	-1	2	-1	-1	-0	0
Free Cash Flow	-0	-1	-3	-3	6	9	15	-0	1	13	11	-1
CFO/OP	55%	34%	58%	119%	150%	155%	282%	36%	34%	134%	142%	91%

Ratios

Figures in Rs. Crores

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	58	75	66	73	59	53	57	48	34	36	35	49
Inventory Days	84	105	128	187	111	158	107	94	93	90	106	95
Days Payable	36	33	31	67	49	60	64	64	46	58	80	78
Cash Conversion Cycle	106	147	162	192	121	151	100	78	81	68	60	67
Working Capital Days	53	71	95	110	86	98	55	46	36	34	19	143
ROCE %	8%	2%	5%	3%	8%	6%	9%	12%	14%	24%	17%	16%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Export Share of Revenue
%

x.xx	x.xx	x.xx	x.xx	x.xx	xx.xx	x.xx	x.xx	x.xx	xx.xx
			xxx	xxx	xxx	xxx	xxx	xxx	xxx
	x,xxx							x,xxx

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Permanent Employees
count

Installed Capacity
MTA

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Shareholding Pattern

Numbers in percentages

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.39%	71.39%	71.39%	71.39%	71.39%	71.39%	71.39%	71.39%	71.39%	71.39%	71.39%	71.39%
	28.60%	28.61%	28.61%	28.61%	28.61%	28.62%	28.61%	28.62%	28.62%	28.61%	28.59%	28.60%
No. of Shareholders	1,559	996	1,383	1,393	1,532	1,553	1,567	1,549	1,593	1,621	1,602	1,518

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	71.25%	71.34%	71.37%	71.39%	71.39%	71.39%	71.39%	71.39%	71.39%	71.39%	71.39%
	28.75%	28.66%	28.63%	28.61%	28.61%	28.61%	28.61%	28.61%	28.61%	28.59%	28.60%
No. of Shareholders	518	540	585	577	600	899	997	1,383	1,567	1,602	1,518

Nitin Castings Ltd

Nitin Castings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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