Nitta Gelatin India Ltd

₹ 1,649 1.36%

01 Jun - 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 ₹ 1,503 Cr.
Current Price ₹ 1,649
High / Low ₹ 1,690 / 753
Stock P/E 15.3
Book Value ₹ 563
Dividend Yield 0.36 %
ROCE 27.4 %
ROE 21.1 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company is almost debt free.

Cons

The company has delivered a poor sales growth of 8.22% 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

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	146	128	140	134	130	130	132	135	129	139	138	150	162
	119	90	108	102	110	102	107	107	106	111	112	112	116
Operating Profit	27	39	31	32	20	29	26	27	23	27	26	38	45
OPM %	18%	30%	22%	24%	15%	22%	20%	20%	18%	20%	19%	25%	28%
	0	3	3	0	5	1	4	9	6	2	3	1	5
Interest	0	0	0	0	2	0	0	0	0	0	0	0	0
Depreciation	4	4	4	4	4	3	3	3	3	3	4	4	4
Profit before tax	23	38	30	29	20	27	27	33	26	26	25	35	46
Tax %	27%	25%	27%	28%	33%	26%	24%	25%	24%	26%	27%	27%	26%
	17	28	22	21	13	20	20	24	20	19	18	26	34
EPS in Rs	17.82	30.32	23.45	21.90	15.36	21.65	22.26	26.92	21.62	21.11	20.30	28.16	37.54
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	354	357	356	342	303	342	396	506	565	533	533	588
	330	321	320	313	273	306	351	442	452	409	428	452
Operating Profit	24	36	36	29	30	36	45	64	114	124	105	136
OPM %	7%	10%	10%	8%	10%	10%	11%	13%	20%	23%	20%	23%
	2	2	9	5	1	2	1	5	4	11	23	12
Interest	10	8	7	7	9	8	6	5	4	3	2	1
Depreciation	14	13	14	15	15	16	16	14	14	15	14	15
Profit before tax	1	18	24	12	7	13	25	49	99	116	112	132
Tax %	358%	53%	49%	61%	33%	8%	29%	29%	25%	28%	25%	26%
	-4	9	12	5	5	12	18	35	74	84	84	97
EPS in Rs	-1.56	11.82	15.61	4.90	3.82	12.38	19.15	36.26	77.44	91.02	92.45	107.10
Dividend Payout %	-64%	21%	16%	51%	39%	20%	16%	11%	10%	7%	9%	7%

Compounded Sales Growth
10 Years:	5%
5 Years:	8%
3 Years:	1%
TTM:	10%

Compounded Profit Growth
10 Years:	25%
5 Years:	41%
3 Years:	13%
TTM:	31%

Stock Price CAGR
10 Years:	26%
5 Years:	54%
3 Years:	25%
1 Year:	114%

Return on Equity
10 Years:	18%
5 Years:	23%
3 Years:	22%
Last Year:	21%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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	99	105	124	139	141	144	164	192	259	334	413	502
	66	92	109	104	108	84	80	86	39	14	31	4
	49	50	59	54	55	57	53	58	60	65	62	71
Total Liabilities	223	256	301	306	313	294	306	345	367	423	515	586
	118	120	110	113	130	121	113	107	114	114	117	149
CWIP	9	9	13	10	4	4	2	7	7	8	19	14
Investments	1	1	1	1	1	1	1	1	1	1	7	8
	96	127	177	182	179	169	191	230	246	300	372	415
Total Assets	223	256	301	306	313	294	306	345	367	423	515	586

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	20	20	11	27	22	40	19	17	101	94	75	122
	-8	-14	-3	-7	-14	-10	-7	-14	-18	-54	-9	-182
	-12	18	-5	-20	-7	-33	-12	-2	-55	-36	11	-37
Net Cash Flow	0	25	3	-0	1	-3	-0	1	28	4	77	-97
Free Cash Flow	12	6	-7	12	5	30	11	2	82	78	52	72
CFO/OP	99%	73%	54%	133%	93%	124%	54%	33%	112%	102%	96%	114%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	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	54	66	76	37	58	64	57	58	65	61
Inventory Days	100	114	144	153	191	205	161	136	126	156	136	120
Days Payable	51	42	48	53	59	49	43	28	39	44	39	54
Cash Conversion Cycle	72	93	150	165	209	193	176	172	144	170	162	127
Working Capital Days	10	17	31	31	26	27	55	55	70	90	83	94
ROCE %	6%	13%	14%	7%	6%	9%	12%	20%	33%	35%	25%	27%

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
% ・Standalone data

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
% ・Standalone data

Installed Capacity - Gelatin
MT per year ・Standalone data

Gelatin Capacity Expansion Announced
MT ・Standalone data

R&D Expenditure (Percentage of Turnover)
% ・Standalone data

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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