Nitin Spinners Ltd

Nitin Spinners Ltd

₹ 263 1.39%
30 May - close price
About

Nitin Spinners is engaged in the business of Yarn and Cotton Knitted Fabric.

Key Points

Product Portfolio
Nitin Spinners was incorporated in 1993 in Bhilwara as a small-scale unit with a capacity of only 384 rotors. Over the years, Nitin Spinners has expanded its operations to include open-end yarns, ring-spun yarns, blended yarns, knitted fabrics, and finished woven fabrics. [1]

  • Market Cap 1,479 Cr.
  • Current Price 263
  • High / Low 278 / 182
  • Stock P/E 8.97
  • Book Value 183
  • Dividend Yield 1.52 %
  • ROCE 12.0 %
  • ROE 17.3 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 25.8% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 25.6%
  • Company's median sales growth is 15.8% of last 10 years

Cons

  • Tax rate seems low
  • Company might be capitalizing the interest cost

* 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

Figures in Rs. Crores

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
380 219 427 467 512 554 665 705 769 709 506 537 655
326 196 371 393 407 425 487 527 602 600 449 477 584
Operating Profit 54 24 55 74 104 129 177 178 167 109 57 60 71
OPM % 14% 11% 13% 16% 20% 23% 27% 25% 22% 15% 11% 11% 11%
1 1 0 1 0 0 -4 0 1 1 1 0 1
Interest 21 15 15 16 16 14 14 13 14 11 9 7 10
Depreciation 24 23 23 23 22 22 22 22 22 22 22 22 21
Profit before tax 10 -14 18 36 66 93 138 143 132 77 27 31 41
Tax % 34% 34% 34% 35% 36% 35% 36% 35% 35% 14% -6% -1% 5%
Net Profit 7 -9 12 23 43 60 87 93 85 66 29 32 39
EPS in Rs 1.16 -1.63 2.12 4.14 7.62 10.67 15.54 16.59 15.20 11.66 5.18 5.62 6.86
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
428 446 488 616 766 933 1,145 1,241 1,436 1,622 2,690 2,407
383 358 394 516 629 799 990 1,062 1,266 1,365 2,039 2,110
Operating Profit 45 88 94 100 137 133 155 178 170 257 652 297
OPM % 11% 20% 19% 16% 18% 14% 14% 14% 12% 16% 24% 12%
0 -15 0 4 1 1 2 3 2 2 -3 3
Interest 21 27 17 23 33 22 30 29 56 62 55 38
Depreciation 24 24 25 28 40 42 56 55 81 91 87 87
Profit before tax 0 21 52 54 65 70 71 97 36 107 506 176
Tax % 0% 33% 33% 24% 32% 18% 27% 34% 33% 35% 36% 6%
Net Profit 0 14 35 41 44 57 52 64 24 69 326 165
EPS in Rs 0.07 3.09 7.59 8.94 9.63 12.51 9.43 11.40 4.24 12.25 58.01 29.32
Dividend Payout % 0% 0% 10% 11% 10% 10% 13% 11% 14% 12% 4% 9%
Compounded Sales Growth
10 Years: 18%
5 Years: 16%
3 Years: 19%
TTM: -11%
Compounded Profit Growth
10 Years: 21%
5 Years: 26%
3 Years: 91%
TTM: -50%
Stock Price CAGR
10 Years: 40%
5 Years: 24%
3 Years: 107%
1 Year: 19%
Return on Equity
10 Years: 21%
5 Years: 21%
3 Years: 26%
Last Year: 17%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
46 46 46 46 46 46 56 56 56 56 56 56
Reserves 41 55 86 121 160 218 361 426 438 507 820 973
249 207 176 378 352 568 449 860 1,040 962 689 980
12 38 46 65 77 53 63 93 111 151 260 209
Total Liabilities 347 346 354 610 635 885 929 1,436 1,645 1,676 1,824 2,218
228 213 191 417 382 613 570 524 1,140 1,060 1,012 1,011
CWIP 3 0 21 0 17 0 4 468 0 2 0 340
Investments 0 0 0 0 0 0 0 0 0 0 0 0
116 133 142 193 236 272 355 445 506 615 812 867
Total Assets 347 346 354 610 635 885 929 1,436 1,645 1,676 1,824 2,218

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
64 89 87 45 100 54 66 104 98 155 431 194
-8 -4 -39 -219 -36 -241 -20 -483 -217 -11 -86 -433
-56 -84 -48 176 -65 188 -47 382 116 -144 -345 239
Net Cash Flow -0 0 -0 1 -0 1 -1 3 -3 -0 0 -0

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 16 23 19 24 19 19 28 36 39 37 33 34
Inventory Days 95 113 87 90 90 105 103 99 105 137 100 110
Days Payable 5 7 13 9 10 11 13 15 16 21 20 12
Cash Conversion Cycle 106 129 92 105 99 113 118 119 127 153 113 132
Working Capital Days 64 56 53 64 58 66 82 91 89 92 72 104
ROCE % 6% 20% 23% 18% 18% 13% 12% 11% 6% 11% 37% 12%

Shareholding Pattern

Numbers in percentages

Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
55.92 56.04 56.10 56.17 56.17 56.17 56.25 56.25 56.36 56.36 56.40 56.41
0.03 0.00 0.00 0.00 1.23 2.70 4.02 4.84 4.26 3.81 3.80 2.40
15.31 14.66 13.77 10.53 6.80 4.11 4.26 4.62 5.03 5.57 5.37 6.30
28.74 29.30 30.14 33.30 35.79 37.02 35.47 34.29 34.35 34.26 34.41 34.88

* 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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