National Fittings Ltd
Incorporated in 1993, National Fittings Ltd manufactures spheroidal graphite pipe fittings, stainless steel fittings and stainless steel ball valves
- Market Cap ₹ 138 Cr.
- Current Price ₹ 152
- High / Low ₹ 235 / 120
- Stock P/E 12.6
- Book Value ₹ 93.1
- Dividend Yield 0.66 %
- 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.16.7 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 | 91 | |
| 30 | 40 | 41 | 52 | 48 | 51 | 52 | 46 | 62 | 76 | 65 | 70 | 79 | |
| 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 | 17 | |
| 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 | 26 |
| 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 | 22 | |
| 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 | 24.09 |
| 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: | 20% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 2% |
| 5 Years: | 37% |
| 3 Years: | 82% |
| TTM: | 160% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 33% |
| 3 Years: | 20% |
| 1 Year: | 21% |
| 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 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 8 | 8 | 8 | 8 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 | 9 |
| Reserves | 3 | 7 | 11 | 19 | 38 | 41 | 41 | 42 | 43 | 46 | 50 | 72 | 75 |
| 8 | 8 | 6 | 5 | 22 | 26 | 21 | 17 | 18 | 20 | 15 | 5 | 4 | |
| 5 | 4 | 6 | 7 | 11 | 16 | 13 | 13 | 15 | 14 | 14 | 16 | 17 | |
| Total Liabilities | 24 | 27 | 32 | 39 | 80 | 91 | 83 | 81 | 85 | 89 | 88 | 103 | 105 |
| 6 | 5 | 6 | 10 | 41 | 47 | 47 | 46 | 48 | 47 | 45 | 27 | 26 | |
| CWIP | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 5 | 0 | 0 |
| Investments | 0 | 0 | 0 | 1 | 2 | 2 | 1 | 1 | 2 | 2 | 2 | 6 | 6 |
| 18 | 22 | 26 | 27 | 37 | 42 | 34 | 33 | 35 | 36 | 36 | 69 | 73 | |
| Total Assets | 24 | 27 | 32 | 39 | 80 | 91 | 83 | 81 | 85 | 89 | 88 | 103 | 105 |
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 |
| Free Cash Flow | 5 | 4 | 8 | 6 | 1 | -2 | -0 | 7 | -0 | -0 | 7 | 47 |
| CFO/OP | 100% | 67% | 113% | 119% | 103% | 116% | 29% | 182% | 76% | 70% | 103% | 114% |
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% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Geographical Revenue Mix - Export Share % |
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| Actual Production Volume - SG Iron Fittings MT |
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| Installed Capacity - SG Iron (Grooved & Screwed Fittings) MT per Annum |
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| Installed Capacity - Stainless Steel (Fittings & Valves) MT per Annum |
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| Sales Quantity - SG Iron Fittings MT |
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| Product Contribution to Turnover - SG Iron % |
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| Actual Production Volume - Stainless Steel Fittings MT |
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| Sales Quantity - Stainless Steel Fittings MT |
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Extracted by Screener AI
Documents
Announcements
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Disclosures By Listed Entities Of Defaults On Payment Of Interest/ Repayment Of Principal Amount For Loans
Including Revolving Facilities Like Cash Credit From Banks / Financial Institutions
28 Apr - National Fittings reports NIL default on Bank of India facilities; total outstanding is 9.32 crore.
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Not A Large Corporate
28 Apr - National Fittings Limited declares it is not a large corporate under SEBI debt-raising framework.
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Announcement under Regulation 30 (LODR)-Change in Registered Office Address
18 Apr - MCA approved National Fittings' registered office shift from Tamil Nadu to Gujarat, effective 02-Apr-2026.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
9 Apr - Certificate under 74(5) of SEBI (DP) Regulations, 2018 regarding the Demating of shares S Aravinthan Company Secretary
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Change Of Registered Office From One State To Another
20 Feb - Change of registered office from Tamil Nadu to Gujarat; notices published 14–16 Feb 2026; application under Section 13.
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