NESCO Ltd

₹ 1,099 -0.05%

10 Jul - 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
1. IT Parks Division (41% in FY24 vs 45% in FY20): ^[1] The company’s flagship Nesco IT Park offers premium office spaces lincensed to multinational companies like HSBC, KPMG, PWC, MSCI, BlackRock, Here Solution, Framestore, etc. Its towers 3 and 4 span 62,315 sq. mt and 1,04,515 sq. mt, respectively, with 24 floors and 83 leasable units. It has an occupancy rate of over 98%. The segment revenue grew by 49% between FY20 and FY24. ^[2] ^[3] ^[4]

Website BSE NSE

Market Cap ₹ 7,744 Cr.
Current Price ₹ 1,099
High / Low ₹ 1,639 / 996
Stock P/E 18.6
Book Value ₹ 425
Dividend Yield 0.64 %
ROCE 18.5 %
ROE 14.8 %
Face Value ₹ 2.00

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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.

Peer comparison

Services Services Commercial Services & Supplies Diversified Commercial Services

Part of Nifty Microcap 250 Nifty Total Market BSE Services BSE 1000 Nifty Total Market Momentum Quality 50 Nifty Smallcap 500

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	157	137	175	178	189	141	192	207	192	193	239	248	252
	58	50	66	64	72	55	73	81	85	83	103	122	134
Operating Profit	99	86	109	114	117	86	120	125	107	110	136	126	118
OPM %	63%	63%	62%	64%	62%	61%	62%	61%	56%	57%	57%	51%	47%
	20	25	23	27	31	30	33	31	20	28	24	26	21
Interest	2	3	5	6	0	3	6	2	1	4	5	8	8
Depreciation	9	14	14	14	12	12	12	13	13	11	12	13	14
Profit before tax	109	94	112	121	136	100	135	142	112	124	143	132	116
Tax %	22%	19%	22%	23%	23%	31%	21%	22%	21%	22%	17%	21%	20%
	85	76	88	94	105	70	107	110	89	96	119	105	93
EPS in Rs	12.05	10.80	12.46	13.31	14.92	9.90	15.17	15.60	12.58	13.65	16.88	14.85	13.21
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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
	194	261	306	304	360	432	291	337	546	678	732	932
	56	73	92	88	128	153	105	117	178	252	294	442
Operating Profit	138	189	214	216	233	278	186	221	368	426	438	490
OPM %	71%	72%	70%	71%	65%	64%	64%	65%	67%	63%	60%	53%
	28	33	43	36	32	42	65	43	44	105	114	100
Interest	0	4	5	6	5	6	8	9	12	14	12	25
Depreciation	7	7	8	11	12	22	26	28	33	54	50	49
Profit before tax	160	211	244	235	248	292	216	227	367	463	489	516
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
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
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:	27%

Compounded Profit Growth
10 Years:	11%
5 Years:	19%
3 Years:	11%
TTM:	7%

Stock Price CAGR
10 Years:	13%
5 Years:	11%
3 Years:	21%
1 Year:	-8%

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
Equity Capital	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
	0	0	0	0	0	0	0	1	0	0	1	272
	137	159	181	170	178	252	293	273	298	354	385	421
Total Liabilities	676	840	1,032	1,179	1,346	1,607	1,819	1,969	2,263	2,650	3,016	3,689
	159	165	188	229	213	776	759	846	804	757	916	1,175
CWIP	100	143	262	357	509	2	51	82	86	162	753	763
Investments	384	442	482	499	531	672	810	847	1,161	1,494	1,136	1,520
	33	90	99	94	93	157	199	194	212	237	211	231
Total Assets	676	840	1,032	1,179	1,346	1,607	1,819	1,969	2,263	2,650	3,016	3,689

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/OP	109%	105%	103%	93%	106%	95%	93%	94%	102%	113%	107%	101%

Ratios

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
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

Bombay Exhibition Center Exhibitions Held
count

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

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Nesco Foods Central Kitchen Meal Capacity
meals/day

Bombay Exhibition Center Total Chargeable Area
sq. mtr.

IT Park Occupancy Rate
%

Indabrator Abrasive Plant Capacity
MT/annum

Nesco Events - Events Held
count

IT Park Total Leased Area
sq. mtr.

Nesco Foods Restaurants Operational
count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 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%
	2.09%	2.79%	3.02%	3.50%	3.87%	3.95%	4.91%	4.90%	4.89%	4.89%	4.65%	4.63%
	3.81%	4.07%	4.14%	3.99%	3.89%	4.06%	3.36%	3.19%	3.06%	3.97%	3.78%	3.84%
	25.55%	24.60%	24.29%	23.97%	23.70%	23.45%	23.18%	23.38%	23.52%	22.60%	23.02%	22.99%
No. of Shareholders	37,525	36,251	45,871	46,796	45,047	44,222	43,448	43,897	43,336	44,938	47,254	46,130

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	68.17%	68.18%	68.20%	68.32%	68.54%	68.54%	68.54%	68.54%	68.54%	68.54%
	3.76%	2.24%	2.45%	2.84%	2.14%	1.99%	2.30%	3.50%	4.90%	4.63%
	4.80%	5.35%	5.64%	5.46%	5.29%	4.83%	3.91%	3.99%	3.19%	3.84%
	23.27%	24.23%	23.72%	23.37%	24.04%	24.64%	25.24%	23.97%	23.38%	22.99%
No. of Shareholders	12,846	22,426	23,467	25,911	39,865	36,630	37,631	46,796	43,897	46,130

* 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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