National Fittings Ltd
Incorporated in 1993, National Fittings Ltd manufactures spheroidal graphite pipe fittings, stainless steel fittings and stainless steel ball valves
- Market Cap ₹ 188 Cr.
- Current Price ₹ 206
- High / Low ₹ 235 / 110
- Stock P/E 20.7
- Book Value ₹ 89.1
- Dividend Yield 0.48 %
- ROCE 10.0 %
- ROE 9.12 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 36.7% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.4%
Cons
- The company has delivered a poor sales growth of 6.57% over past five years.
- Promoter holding is low: 34.0%
- Company has a low return on equity of 9.28% over last 3 years.
- Earnings include an other income of Rs.16.2 Cr.
* 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 Iron & Steel Products
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
37 | 50 | 52 | 67 | 62 | 58 | 57 | 51 | 66 | 86 | 77 | 78 | 89 | |
30 | 40 | 41 | 52 | 48 | 51 | 52 | 46 | 62 | 76 | 65 | 70 | 77 | |
Operating Profit | 6 | 10 | 11 | 16 | 14 | 7 | 5 | 5 | 4 | 10 | 12 | 8 | 12 |
OPM % | 17% | 19% | 22% | 23% | 22% | 12% | 8% | 9% | 7% | 11% | 15% | 10% | 13% |
1 | 1 | 2 | 2 | 3 | 2 | 1 | 1 | 1 | 1 | 1 | 22 | 16 | |
Interest | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 1 |
Depreciation | 1 | 1 | 1 | 1 | 3 | 3 | 2 | 3 | 3 | 3 | 3 | 3 | 3 |
Profit before tax | 6 | 8 | 11 | 16 | 12 | 4 | 2 | 2 | 2 | 7 | 8 | 26 | 24 |
Tax % | 40% | 34% | 33% | 36% | 37% | 33% | 11% | 30% | 20% | 33% | 27% | 11% | |
3 | 6 | 7 | 10 | 8 | 3 | 1 | 2 | 1 | 4 | 6 | 23 | 20 | |
EPS in Rs | 4.04 | 6.61 | 8.88 | 12.19 | 9.31 | 3.29 | 1.48 | 1.81 | 1.48 | 4.83 | 6.43 | 25.65 | 22.00 |
Dividend Payout % | 25% | 15% | 34% | 33% | 0% | 46% | 0% | 55% | 68% | 31% | 23% | 4% |
Compounded Sales Growth | |
---|---|
10 Years: | 5% |
5 Years: | 7% |
3 Years: | 6% |
TTM: | 23% |
Compounded Profit Growth | |
---|---|
10 Years: | 2% |
5 Years: | 37% |
3 Years: | 82% |
TTM: | 108% |
Stock Price CAGR | |
---|---|
10 Years: | 10% |
5 Years: | 54% |
3 Years: | 54% |
1 Year: | 50% |
Return on Equity | |
---|---|
10 Years: | 11% |
5 Years: | 7% |
3 Years: | 9% |
Last Year: | 9% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
Reserves | 3 | 7 | 11 | 19 | 38 | 41 | 41 | 42 | 43 | 46 | 50 | 72 |
8 | 8 | 6 | 5 | 22 | 26 | 21 | 17 | 18 | 20 | 15 | 5 | |
5 | 4 | 6 | 7 | 11 | 16 | 13 | 13 | 15 | 14 | 14 | 16 | |
Total Liabilities | 24 | 27 | 32 | 39 | 80 | 91 | 83 | 81 | 85 | 89 | 88 | 103 |
6 | 5 | 6 | 10 | 41 | 47 | 47 | 46 | 48 | 47 | 45 | 27 | |
CWIP | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 5 | 0 |
Investments | 0 | 0 | 0 | 1 | 2 | 2 | 1 | 1 | 2 | 2 | 2 | 6 |
18 | 22 | 26 | 27 | 37 | 42 | 34 | 33 | 35 | 36 | 36 | 69 | |
Total Assets | 24 | 27 | 32 | 39 | 80 | 91 | 83 | 81 | 85 | 89 | 88 | 103 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
5 | 4 | 10 | 13 | 9 | 6 | 2 | 9 | 4 | 6 | 10 | 8 | |
-0 | 0 | -1 | -5 | -7 | -7 | -1 | -1 | -4 | -5 | -2 | 37 | |
-2 | -3 | -5 | -5 | -1 | 2 | -8 | -5 | -0 | -0 | -8 | -12 | |
Net Cash Flow | 3 | 2 | 3 | 2 | 1 | 1 | -8 | 2 | -1 | 0 | 0 | 33 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 18 | 18 | 18 | 14 | 18 | 29 | 22 | 30 | 26 | 24 | 28 | 33 |
Inventory Days | 98 | 65 | 84 | 79 | 263 | 254 | 327 | 242 | 222 | 173 | 214 | 148 |
Days Payable | 37 | 17 | 27 | 37 | 112 | 148 | 136 | 129 | 125 | 76 | 70 | 82 |
Cash Conversion Cycle | 79 | 65 | 75 | 57 | 168 | 136 | 213 | 142 | 124 | 121 | 172 | 99 |
Working Capital Days | 43 | 45 | 26 | 20 | -15 | -31 | -9 | -10 | -19 | -13 | -2 | 35 |
ROCE % | 34% | 44% | 49% | 58% | 27% | 8% | 4% | 5% | 4% | 10% | 13% | 10% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Management
2d - Arpit Agarwal appointed MD (5-year) and Jayaram Govindarajan JMD (3-year) effective 18.10.2025, subject to shareholder approval.
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Announcement under Regulation 30 (LODR)-Change in Directorate
2d - Appointed Anil Kumar Agarwal and Arpit Agarwal as additional directors effective 18-Oct-2025, subject to shareholder approval
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Announcement under Regulation 30 (LODR)-Resignation of Director
2d - Director A V Palaniswamy resigned effective 18.10.2025; resignation letter enclosed.
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Announcement under Regulation 30 (LODR)-Resignation of Director
2d - Panath Anitha resigned as director effective 18 Oct 2025; no material reasons stated.
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Announcement under Regulation 30 (LODR)-Open Offer - Updates
15 Oct - Open Offer by Himgiri Castings Pvt Ltd and PACs completed on 13 Oct 2025 per Keynote certificate.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Business Overview:[1]
Company is an export oriented ISO 9001 certified manufacturer of quality Piping components and Pumps for industrial and non-industrial applications. It operates multiple foundries including an investment casting foundry utilizing lost wax process and an exclusive supply source for its entire casting requirements. Company exports these products mainly to Middle East and also to United States of America, Europe, South America and Australia