NESCO Ltd

AI

NESCO Ltd

₹ 983 -2.36%
23 Oct - close price
About

NESCO is engaged in the businesses of Licencing premises in IT park buildings and providing related services, licencing premises for exhibitions and providing services to the organisers, manufacturing of machines and capital equipment, and providing hospitality and catering services.(Source : 202003 Annual Report Page No:74)

Key Points

Business Segments:
a) IT Parks Division: [1]
The company leases grade A office spaces across IT Park Towers 3 and 4, with 17.50+ lakh sq ft chargeable, 100% occupancy, an average realisation of ₹179 psf/pm, 26 global clients and an NPS of 94.80. Both towers are LEED Platinum and run on 100% renewable power. More than six clients renewed for a further five-year term during FY26
b) Bombay Exhibition Center:l[2]
The company's exhibition center in Goregaon, Mumbai, is India’s largest exhibition venue in the private sector spread over 60,000 sq. mt featuring five halls. It is used for exhibitions, trade shows, and entertainment and annually attracts over 2 million visitors. It hosted 135+ exhibitions and events in FY26 with 2 mn+ footfall. Hall 6, an 18,000+ visitors capacity hall, is now fully operational[3] [4]
c) Nesco Foods:
Nesco Foods caters to all levels of social, business, and luxury events. It operates
over 8 owned brands and 50 partnered
brands, offering over 80,000 meals daily.
The division operates the largest non-flight kitchen in Mumbai spanning 24,000 sq. ft. It has expanded into newer geographies by introducing new food options, including three restaurants namely Social, Smoke House Deli, and FOO, and leasing out food court spaces to renowned brands. [4] [5]
d) Nesco Events:[6]
This is moving from venue host to promoter
of its own IPs, including Rangilo Re (Navratri) and its first off-campus multi-city concert (Himesh Reshammiya, Pune)
e) Indabrator:[7]
The company manufactures machines
and capital equipment according to the
industrial demand for Railways, Defence,
Spare, Research, etc. It operates manufacturing
plants in Karamsad and Vishnoli, Gujarat,
and branch offices in Kolkata, New Delhi,
and Chennai. In FY24, it commissioned a
high-value 28 CFT Tumble Shot Blasting Machine for NALCO at Orissa. Its key clients include ISRO, Integral Coach Factory, Rail
Coach Factory, SAIL
f) Wayside Amenities (Nesco Retail brand):
It builds highway stops on long-term leased NHLML land. Planned facilities are fuel, EV charging, food courts and QSRs, dormitories, retail and repair services.[8]

  • Market Cap ₹ 6,928 Cr.
  • Current Price ₹ 983
  • High / Low ₹ 1,408 / 975
  • Stock P/E 17.2
  • Book Value ₹ 447
  • Dividend Yield 0.71 %
  • ROCE 18.5 %
  • ROE 14.8 %
  • Face Value ₹ 2.00

Pros

  • Company is almost debt free.

Cons

  • Dividend payout has been low at 11.9% of profits over last 3 years

* 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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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
175 178 189 141 192 207 192 193 239 248 252 212 228
66 64 72 55 73 81 85 83 103 122 134 109 101
Operating Profit 109 114 117 86 120 125 107 110 136 126 118 102 128
OPM % 62% 64% 62% 61% 62% 61% 56% 57% 57% 51% 47% 48% 56%
23 27 31 30 33 31 20 28 24 26 21 44 24
Interest 5 6 0 3 6 2 1 4 5 8 8 7 6
Depreciation 14 14 12 12 12 13 13 11 12 13 14 12 11
Profit before tax 112 121 136 100 135 142 112 124 143 132 116 127 136
Tax % 22% 23% 23% 31% 21% 22% 21% 22% 17% 21% 20% 21% 23%
88 94 105 70 107 110 89 96 119 105 93 100 105
EPS in Rs 12.46 13.31 14.92 9.90 15.17 15.60 12.58 13.65 16.88 14.85 13.21 14.19 14.93
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
194 261 306 304 360 432 291 337 546 678 732 932 940
56 73 92 88 128 153 105 117 178 252 294 442 466
Operating Profit 138 189 214 216 233 278 186 221 368 426 438 490 474
OPM % 71% 72% 70% 71% 65% 64% 64% 65% 67% 63% 60% 53% 50%
28 33 43 36 32 42 65 43 44 105 114 100 115
Interest 0 4 5 6 5 6 8 9 12 14 12 25 29
Depreciation 7 7 8 11 12 22 26 28 33 54 50 49 49
Profit before tax 160 211 244 235 248 292 216 227 367 463 489 516 511
Tax % 30% 32% 30% 25% 27% 20% 20% 16% 21% 22% 23% 20%
112 144 169 177 180 234 172 189 291 363 375 413 403
EPS in Rs 15.83 20.45 24.03 25.08 25.57 33.18 24.48 26.85 41.25 51.49 53.25 58.59 57.18
Dividend Payout % 8% 8% 9% 9% 10% 9% 12% 11% 11% 12% 12% 12%
Compounded Sales Growth
10 Years: 14%
5 Years: 26%
3 Years: 20%
TTM: 13%
Compounded Profit Growth
10 Years: 11%
5 Years: 19%
3 Years: 11%
TTM: -3%
Stock Price CAGR
10 Years: 10%
5 Years: 10%
3 Years: 16%
1 Year: -26%
Return on Equity
10 Years: 16%
5 Years: 15%
3 Years: 16%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 Sep 2026
Equity Capital 14 14 14 14 14 14 14 14 14 14 14 14 14
Reserves 526 667 837 995 1,154 1,341 1,512 1,681 1,950 2,282 2,615 2,982 3,138
0 0 0 0 0 0 0 1 0 0 1 272 93
137 159 181 170 178 252 293 273 298 354 385 421 466
Total Liabilities 676 840 1,032 1,179 1,346 1,607 1,819 1,969 2,263 2,650 3,016 3,689 3,711
159 165 188 229 213 776 759 846 804 757 916 1,175 978
CWIP 100 143 262 357 509 2 51 82 86 162 753 763 814
Investments 384 442 482 499 531 672 810 847 1,161 1,494 1,136 1,520 1,654
33 90 99 94 93 157 199 194 212 237 211 231 265
Total Assets 676 840 1,032 1,179 1,346 1,607 1,819 1,969 2,263 2,650 3,016 3,689 3,711

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
103 137 152 143 171 208 139 164 297 377 349 388
-91 -110 -153 -123 -155 -157 -142 -142 -266 -334 -315 -610
-11 -25 -0 -19 -20 -47 -0 -21 -24 -33 -42 222
Net Cash Flow 0 1 -1 2 -3 4 -3 1 8 10 -8 0
Free Cash Flow 2 37 -3 6 21 151 72 15 284 272 -435 66
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit 109% 105% 103% 93% 106% 95% 93% 94% 102% 113% 107% 101%

Ratios

Standalone / View Consolidated

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 20 20 13 16 18 14 37 20 15 7 8 8
Inventory Days 313 139 158 107 119 83 56 36
Days Payable 519 166 227 125 147 93 63 43
Cash Conversion Cycle 20 20 -193 16 -8 14 -32 2 -12 -4 0 1
Working Capital Days -39 -18 -23 -112 -53 -37 -55 2 2 -21 -23 -23
ROCE % 29% 35% 32% 26% 23% 24% 16% 15% 22% 22% 21% 19%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Bombay Exhibition Center Exhibitions Held
count

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Nesco Foods Central Kitchen Meal Capacity
meals/day
IT Park Occupancy Rate
%
Bombay Exhibition Center Total Chargeable Area
sq. mtr.
Nesco Events - Events Held
count
Indabrator Abrasive Plant Capacity
MT/annum
IT Park Total Leased Area
sq. mtr.
Nesco Foods Restaurants Operational
count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54% 68.54%
3.02% 3.50% 3.87% 3.95% 4.91% 4.90% 4.89% 4.89% 4.65% 4.63% 4.32% 4.19%
4.14% 3.99% 3.89% 4.06% 3.36% 3.19% 3.06% 3.97% 3.78% 3.84% 4.12% 4.26%
24.29% 23.97% 23.70% 23.45% 23.18% 23.38% 23.52% 22.60% 23.02% 22.99% 23.03% 23.00%
No. of Shareholders 45,87146,79645,04744,22243,44843,89743,33644,93847,25446,13046,38145,747

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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