Nitta Gelatin India Ltd

₹ 1,283 -0.35%

12 May - close price

About

Incorporated in 1975, Nitta Gelatin India Ltd manufactures and sells ossein, gelatin, and collagen peptide^[1]

Key Points

Business Overview:^[1]
NGIL, a joint venture between the Kerala State Industrial Development Corporation (32% shareholding) and Osaka-based NGI (43% stake), manufactures gelatin, ossein, limed ossein, and DCP from processed animal bones. It also produces collagen peptide-based consumer products for the pharmaceutical and healthcare industries.

Website BSE NSE

Market Cap ₹ 1,159 Cr.
Current Price ₹ 1,283
High / Low ₹ 1,351 / 742
Stock P/E 10.5
Book Value ₹ 545
Dividend Yield 0.47 %
ROCE 31.3 %
ROE 24.9 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.
Company has delivered good profit growth of 43.9% CAGR over last 5 years

Cons

The company has delivered a poor sales growth of 10.7% over past five 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

Commodities Chemicals Chemicals & Petrochemicals Specialty Chemicals

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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
	130	116	123	118	115	131	132	135	129	139	138	150	162
	107	82	97	91	93	104	107	108	106	111	112	112	116
Operating Profit	23	34	27	27	22	28	25	27	23	27	26	38	45
OPM %	17%	29%	22%	23%	19%	21%	19%	20%	18%	20%	19%	25%	28%
	0	2	9	0	5	2	4	9	6	2	11	7	5
Interest	0	0	0	0	2	0	0	1	1	1	1	0	0
Depreciation	3	3	4	4	4	3	3	3	3	3	4	4	4
Profit before tax	19	33	32	23	22	26	26	32	26	26	33	41	46
Tax %	28%	25%	21%	29%	26%	26%	25%	25%	25%	25%	20%	23%	26%
	14	24	25	17	16	19	20	24	19	19	26	31	34
EPS in Rs	15.23	26.97	27.63	18.29	17.94	21.19	21.51	26.73	21.11	21.35	28.79	34.21	37.46
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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
	355	357	341	343	261	294	354	429	487	473	527	588
	329	318	304	316	243	268	314	378	397	363	424	452
Operating Profit	27	39	37	27	18	27	40	51	90	110	104	136
OPM %	8%	11%	11%	8%	7%	9%	11%	12%	18%	23%	20%	23%
	2	2	9	5	1	3	5	6	5	17	22	26
Interest	8	6	4	7	8	8	5	5	4	3	3	2
Depreciation	10	9	10	14	14	15	15	14	13	14	13	15
Profit before tax	10	26	32	11	-4	7	24	38	78	110	110	146
Tax %	49%	37%	36%	65%	-28%	-15%	26%	29%	25%	25%	25%	24%
	5	17	20	4	-3	8	18	27	59	82	82	111
EPS in Rs	5.62	18.38	22.57	4.16	-2.91	8.70	19.72	29.30	64.72	90.86	90.55	121.81
Dividend Payout %	18%	14%	11%	60%	-52%	29%	15%	14%	12%	7%	9%	6%

Compounded Sales Growth
10 Years:	5%
5 Years:	11%
3 Years:	7%
TTM:	12%

Compounded Profit Growth
10 Years:	21%
5 Years:	44%
3 Years:	23%
TTM:	51%

Stock Price CAGR
10 Years:	21%
5 Years:	48%
3 Years:	16%
1 Year:	68%

Return on Equity
10 Years:	18%
5 Years:	24%
3 Years:	25%
Last Year:	25%

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	9	9	9	9	9	9	9	9	9	9	9	9
Reserves	113	125	130	138	133	134	154	176	231	307	383	486
	53	70	84	104	101	79	75	80	33	27	45	9
	40	45	48	55	51	53	49	51	53	57	54	66
Total Liabilities	214	249	271	305	295	276	287	316	326	400	492	570
	77	80	77	110	126	116	108	102	109	106	111	149
CWIP	8	7	11	10	3	4	2	7	7	8	19	14
Investments	32	45	27	4	4	4	4	4	5	5	5	5
	96	117	157	181	161	151	172	202	206	281	357	403
Total Assets	214	249	271	305	295	276	287	316	326	400	492	570

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
	17	29	11	26	28	33	15	13	78	79	61	125
	-8	-22	-3	-7	-13	-7	-3	-11	-15	-44	2	-176
	-8	11	-6	-20	-14	-29	-12	-2	-53	-15	11	-45
Net Cash Flow	1	18	2	-0	1	-3	-0	-1	10	20	74	-96
Free Cash Flow	8	18	-4	12	12	24	8	-1	58	67	37	73
CFO/OP	73%	88%	51%	138%	165%	133%	49%	26%	109%	97%	83%	116%

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	23	21	56	65	74	34	57	65	59	60	66	61
Inventory Days	99	112	127	151	202	220	161	148	133	164	138	120
Days Payable	50	43	37	56	67	58	46	30	45	53	38	54
Cash Conversion Cycle	72	90	147	160	210	196	172	182	148	171	165	127
Working Capital Days	17	18	35	29	18	18	50	52	72	82	75	84
ROCE %	11%	17%	17%	7%	2%	6%	13%	17%	31%	37%	26%	31%

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

Export Share of Gelatin Sales
%

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

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Production Volume - Di-Calcium Phosphate (DCP) (Subsidiaries)
MT

Production Volume - Ossein (Subsidiaries)
MT

Export Share of Collagen Peptide Sales
%

Installed Capacity - Gelatin
MT per year

Gelatin Capacity Expansion Announced
MT

R&D Expenditure (Percentage of Turnover)
%

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
	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%	74.49%
	0.00%	0.00%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.26%	0.12%	0.12%	0.12%	0.12%	0.12%	0.08%	0.09%	0.35%	0.64%	0.75%	0.93%
	25.26%	25.41%	25.40%	25.40%	25.39%	25.40%	25.45%	25.43%	25.17%	24.89%	24.76%	24.59%
No. of Shareholders	8,466	10,183	11,028	11,573	11,783	12,229	12,239	12,078	11,574	11,248	10,881	10,551

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	74.48%	74.48%	74.48%	74.48%	74.48%	74.48%	74.49%	74.49%	74.49%	74.49%
	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.26%	0.12%	0.09%	0.93%
	25.40%	25.40%	25.40%	25.40%	25.40%	25.40%	25.26%	25.40%	25.43%	24.59%
No. of Shareholders	6,420	6,037	5,887	5,774	5,898	6,375	8,332	11,573	12,078	10,551

* 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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Nitta Gelatin India Ltd

Nitta Gelatin India Ltd

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Quarterly Results

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Shareholding Pattern

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