BSE: 508875 | NSE: | Castings/Forgings | Small Cap
Past 10 year’s financial track record analysis by Moneyworks4me indicates that Nitin Castings Ltd is a below average quality company.
The key valuation ratios of Nitin Castings Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Nitin Castings Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 7.4% | 2.6% | 5.1% | 3.3% | 8% | 5.6% | 9.1% | 12% | 13.5% | 21.4% | - |
| Value Creation Index ⓘ | -0.5 | -0.8 | -0.6 | -0.8 | -0.4 | -0.6 | -0.4 | -0.1 | 0.0 | 0.5 | - |
Growth Parameters ⓘGrowth Parameters Colour Code Guide ⓘ | |||||||||||
| Sales ⓘ | 42.1 | 64.3 | 61.5 | 57.5 | 73.8 | 64.1 | 62 | 96.5 | 133 | 149 | 151 |
| Sales YoY Gr. | - | 52.9% | -4.4% | -6.5% | 28.2% | -13.1% | -3.3% | 55.7% | 38.2% | 11.5% | - |
| Adj EPS ⓘ | 4 | -0.1 | 2 | 1.6 | 4.6 | 2.6 | 6.2 | 9.7 | 9.6 | 26.4 | 26.2 |
| YoY Gr. | - | -103.2% | NA | -20% | 188.8% | -44.8% | 142% | 57.9% | -1.1% | 174.1% | - |
| BVPS (₹) ⓘ | 79.2 | 78.8 | 84.5 | 85.8 | 89.2 | 91.3 | 97.8 | 107.4 | 116.5 | 139.5 | 152.3 |
| Adj Net Profit ⓘ | 1.1 | 0 | 1 | 0.8 | 2.4 | 1.3 | 3.2 | 5 | 5 | 13.6 | 13 |
| Cash Flow from Ops. ⓘ | 1 | 1.1 | 2.7 | 5.8 | 9.9 | 9.7 | 15.3 | 1.1 | 0.9 | 17.4 | - |
| Debt/CF from Ops. ⓘ | 5.4 | 8.7 | 3.6 | 2.4 | 1.3 | 0.8 | 0.2 | 3.6 | 10.9 | 0.3 | - |
CAGR Colour Code Guide ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 15.1% | 15.1% | 33.9% | 11.5% | ||||
| Adj EPS ⓘ | 23.3% | 41.7% | 62.4% | 174.1% | ||||
| BVPSⓘ | 6.5% | 9.4% | 12.6% | 19.7% | ||||
| Share Price | 35.5% | 56.7% | 90.7% | 34.9% | ||||
Performance Ratio Colour Code Guide ⓘ
| Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 5 | -0.1 | 2.4 | 1.9 | 5.3 | 2.8 | 6.5 | 9.5 | 8.6 | 20.6 | 18 |
| Op. Profit Mgn % ⓘ | 6.3 | 7 | 9.3 | 8.5 | 9.8 | 10.1 | 9.1 | 7.1 | 7.3 | 9.9 | 11 |
| Net Profit Mgn % ⓘ | 2.7 | -0.1 | 1.7 | 1.4 | 3.2 | 2 | 5.1 | 5.2 | 3.7 | 9.1 | 8.9 |
| Debt to Equity ⓘ | 0.2 | 0.4 | 0.2 | 0.3 | 0.3 | 0.2 | 0.1 | 0.1 | 0.2 | 0.1 | 0 |
| Working Cap Days ⓘ | 130 | 134 | 196 | 248 | 197 | 203 | 178 | 115 | 108 | 110 | 99 |
| Cash Conv. Cycle ⓘ | 84 | 84 | 118 | 142 | 109 | 111 | 98 | 59 | 56 | 54 | 58 |
Return on Equity has increased versus last 3 years average to 18.00%
Sales growth is growing at healthy rate in last 3 years 33.89%
Net Profit is growing at healthy rate in last 3 years 62.35%
Sales growth is not so good in last 4 quarters at 8.60%
| Standalone | Consolidated | |
|---|---|---|
| TTM EPS (₹) | 26.2 | - |
| TTM Sales (₹ Cr.) | 151 | - |
| BVPS (₹.) ⓘ | 152.3 | - |
| Reserves (₹ Cr.) ⓘ | 76 | - |
| P/BV ⓘ | 4.53 | - |
| PE ⓘ | 26.33 | - |
| From the Market | |
|---|---|
| 52 Week Low / High (₹) | 472.00 / 885.00 |
| All Time Low / High (₹) | 1.25 / 885.00 |
| Market Cap (₹ Cr.) | 355 |
| Equity (₹ Cr.) | 2.6 |
| Face Value (₹) | 5 |
| Industry PE ⓘ | 31.2 |
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 42 | 64 | 61 | 58 | 74 | 64 | 62 | 97 | 133 | 149 |
| Operating Expenses ⓘ | 39 | 60 | 56 | 53 | 67 | 58 | 56 | 90 | 124 | 134 |
| Manufacturing Costs | 4 | 13 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Material Costs | 32 | 37 | 45 | 41 | 52 | 43 | 44 | 75 | 104 | 115 |
| Employee Cost | 2 | 6 | 6 | 6 | 8 | 7 | 6 | 6 | 7 | 8 |
| Other Costs ⓘ | 2 | 4 | 4 | 5 | 6 | 7 | 5 | 8 | 13 | 12 |
| Operating Profit ⓘ | 3 | 4 | 6 | 5 | 7 | 6 | 6 | 7 | 10 | 15 |
| Operating Profit Margin (%) | 6.2% | 7.0% | 9.3% | 8.5% | 9.7% | 10.1% | 9.1% | 6.9% | 7.2% | 9.9% |
| Other Income ⓘ | 0 | 0 | 1 | 1 | 2 | 1 | 2 | 2 | 1 | 5 |
| Interest ⓘ | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 |
| Depreciation ⓘ | 1 | 4 | 4 | 4 | 4 | 4 | 2 | 2 | 2 | 2 |
| Exceptional Items ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2 |
| Profit Before Tax ⓘ | 2 | 0 | 2 | 1 | 3 | 2 | 4 | 7 | 9 | 15 |
| Tax ⓘ | 1 | 0 | 1 | 0 | 1 | 0 | 1 | 1 | 4 | 3 |
| Profit After Tax | 1 | 0 | 1 | 1 | 2 | 1 | 3 | 5 | 5 | 12 |
| PAT Margin (%) | 2.6% | 0.0% | 1.9% | 1.5% | 3.2% | 2.0% | 5.3% | 5.3% | 3.7% | 8.2% |
| Adjusted EPS (₹) | 4.0 | 0.1 | 2.3 | 1.6 | 4.6 | 2.6 | 6.3 | 10.0 | 9.5 | 23.6 |
| Dividend Payout Ratio (%) | 13% | 384% | 22% | 31% | 11% | 0% | 8% | 5% | 8% | 13% |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | ||||||||||
| Shareholders Fund | 22 | 22 | 43 | 44 | 46 | 47 | 50 | 55 | 60 | 72 |
| Share Capital ⓘ | 1 | 1 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Reserves ⓘ | 21 | 21 | 41 | 42 | 43 | 44 | 48 | 53 | 57 | 69 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt | 5 | 9 | 10 | 12 | 10 | 5 | 1 | 3 | 10 | 4 |
| Long Term Debt | 0 | 0 | 2 | 7 | 8 | 5 | 0 | 0 | 0 | 3 |
| Short Term Debt | 4 | 9 | 7 | 5 | 2 | 0 | 0 | 3 | 9 | 1 |
| Trade Payables | 3 | 4 | 4 | 7 | 7 | 7 | 8 | 13 | 13 | 18 |
| Others Liabilities ⓘ | 3 | 26 | 9 | 10 | 9 | 9 | 8 | 6 | 9 | 15 |
| Total Liabilities ⓘ | 34 | 61 | 66 | 74 | 72 | 67 | 67 | 78 | 92 | 109 |
Fixed Assets | ||||||||||
| Gross Block | 20 | 46 | 46 | 62 | 66 | 66 | 67 | 67 | 67 | 71 |
| Accumulated Depreciation | 9 | 25 | 29 | 32 | 36 | 40 | 42 | 44 | 45 | 46 |
| Net Fixed Assetsⓘ | 11 | 21 | 18 | 30 | 30 | 26 | 24 | 23 | 22 | 25 |
| CWIP ⓘ | 0 | 2 | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investmentsⓘ | 4 | 2 | 0 | 0 | 0 | 5 | 16 | 17 | 25 | 36 |
| Inventories | 8 | 14 | 16 | 21 | 16 | 19 | 13 | 19 | 26 | 28 |
| Trade Receivables | 7 | 13 | 11 | 11 | 12 | 9 | 10 | 13 | 12 | 15 |
| Cash Equivalents | 1 | 1 | 1 | 2 | 4 | 2 | 0 | 3 | 1 | 0 |
| Others Assetsⓘ | 3 | 7 | 12 | 10 | 10 | 7 | 3 | 3 | 5 | 5 |
| Total Assets ⓘ | 34 | 61 | 66 | 74 | 72 | 67 | 67 | 78 | 92 | 109 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ | 1 | 1 | 3 | 6 | 10 | 10 | 15 | 1 | 1 | 17 |
| PBT ⓘ | 2 | 1 | 2 | 1 | 3 | 2 | 4 | 7 | 9 | 15 |
| Adjustment ⓘ | 1 | 1 | 4 | 5 | 5 | 6 | 3 | 2 | 2 | -1 |
| Changes in Working Capital ⓘ | -1 | -1 | -2 | 0 | 3 | 2 | 9 | -6 | -7 | 7 |
| Tax Paid ⓘ | -1 | 0 | -1 | 0 | -1 | 0 | -1 | -1 | -2 | -3 |
| Cash Flow From Investing Activity ⓘ | -3 | -1 | -3 | -7 | -4 | -5 | -12 | -2 | -8 | -13 |
| Capex | -1 | -2 | -6 | -9 | -4 | -1 | -1 | -1 | 0 | -5 |
| Net Investments | -2 | 2 | 2 | 0 | 0 | -5 | -11 | 0 | -7 | -8 |
| Others ⓘ | 0 | 0 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow From Financing Activityⓘ | 2 | -1 | 1 | 2 | -4 | -7 | -5 | 2 | 6 | -6 |
| Net Proceeds from Shares ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Proceeds from Borrowing ⓘ | 0 | 0 | 0 | 5 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Paid ⓘ | 0 | 0 | 0 | -1 | -1 | -1 | -1 | 0 | 0 | 0 |
| Dividend Paid ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Others ⓘ | 2 | 0 | 1 | -2 | -3 | -5 | -4 | 3 | 6 | -5 |
| Net Cash Flow ⓘ | 0 | 0 | 0 | 1 | 2 | -2 | -1 | 2 | -1 | -1 |
| PARTICULARS | Mar'15 | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 4.98 | 0.12 | 3.59 | 1.92 | 5.2 | 2.82 | 6.7 | 9.78 | 8.5 | 18.43 |
| ROCE (%) | 7.44 | 2.56 | 5.05 | 3.28 | 7.97 | 5.58 | 9.1 | 11.99 | 13.5 | 21.42 |
| Asset Turnover Ratio | 1.49 | 1.51 | 1.08 | 0.85 | 1.01 | 0.94 | 0.94 | 1.34 | 1.59 | 1.52 |
| PAT to CFO Conversion(x) | 1 | N/A | 3 | 6 | 5 | 10 | 5 | 0.2 | 0.2 | 1.42 | Working Capital Days |
| Receivable Days | 54 | 51 | 65 | 69 | 58 | 59 | 55 | 42 | 34 | 32 |
| Inventory Days | 54 | 57 | 80 | 112 | 91 | 97 | 92 | 61 | 62 | 65 |
| Payable Days | 29 | 39 | 33 | 51 | 51 | 60 | 61 | 51 | 46 | 50 |
Kedia Group entered the arena of the foundry industry in the year 1964, with the formation of Nitin Castings a group company, with centralized facilities located at Thane, an eastern suburb barely 32 kms away from the industrial metro of India, Mumbai.
Nitin Alloys Global made rapid strides to achieve full recognition in manufacturing high quality alloy steel castings, comparable very favorably with those which were being imported from various developed countries and gained acknowledgement and acceptance for import substitution in several core sector industries of national importance. 1974 was to be another landmark year in the brief history of Nitin.
The company entered into technical collaboration with Schmidt + Clemens of Germany, and imported advanced technology for the manufacturer of reformer tubes and other horizontal centrifugal castings. The technology absorption & update went on till 1989, when the technical collaboration ended making Nitin a fully independent company to expand its horizons.
To meet the increased demand of static castings and to make those castings at competitive prices, a sister concern in the name of Nitin Alloy Steels was started in Februrary, 1998, near Silvassa, Union Territory of Dadra-Nagar Haveli about 150kms away from Mumbai. The Foundry manufactures all grades of steel, stainless steel and heat resistant steel castings and is certified as per ISO 9001:2000 by BVQI, London.
During the year 2006-07, Nitin further expanded its manufacturing activities. The Silvassa facility of Nitin Alloys Global Ltd. was expanded to accommodate to handle Manganese Steel, Low Alloy Steel etc. besides the existing grades of Heat Resistance, Corrosion Resistance, and Wear Resistance Alloys. The manufacturing capacity, after this expansion, is to be 4,000 Tones Per Annum.
Products manufactured by the company include:
Vavles :
Pump Industry
Cement Plants
Steel Plants
Others
Services offered by the company includes:
Clientele:
Achievements/ recognition:
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