Nitin Castings Ltd - Stock Valuation and Financial Performance

BSE: 508875 | NSE: | Castings/Forgings | Small Cap

Nitin Castings Share Price

615.10 -7.90 -1.27%
as on 28-Mar'24 16:01

DeciZen - make an informed investing decision on Nitin Castings

Overall Rating
M-Cap below 500cr. High Risk from low Liquidity Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Nitin Castings stock performance -

mw4me loader
P/E Ratio (SA):
30.48
Market Cap:
320.3 Cr.
52-wk low:
214.5
52-wk high:
697.8

Is Nitin Castings Ltd an attractive stock to invest in?

1. Is Nitin Castings Ltd a good quality company?

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Nitin Castings Ltd is a below average quality company.

2. Is Nitin Castings Ltd undervalued or overvalued?

The key valuation ratios of Nitin Castings Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

3. Is Nitin Castings Ltd a good buy now?

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.

10 Year X-Ray of Nitin Castings:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Nitin Castings Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 4.3%5.1%1.6%3.2%2.7%5.7%4.2%7.2%9.2%7.9%-
Value Creation
Index
-0.7-0.6-0.9-0.8-0.8-0.6-0.7-0.5-0.3-0.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 36.342.164.361.557.573.864.16296.5133140
Sales YoY Gr.-15.9%52.9%-4.4%-6.5%28.2%-13.1%-3.3%55.7%38.2%-
Adj EPS 3.54-0.121.64.62.66.29.79.620.4
YoY Gr.-13.9%-103.2%NA-20%188.8%-44.8%142%57.9%-1.1%-
BVPS (₹) 79.679.278.884.585.889.291.397.8107.4116.5134.9
Adj Net
Profit
11.1010.82.41.33.25511
Cash Flow from Ops. 2.511.12.75.89.99.715.31.10.9-
Debt/CF from Ops. 15.48.73.62.41.30.80.23.610.9-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 15.6%18.3%27.7%38.2%
Adj EPS 11.8%43.2%55.7%-1.1%
BVPS4.3%6.3%8.5%8.5%
Share Price 41.2% 51.9% 108.4% 166.2%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
4.55-0.12.41.95.32.86.59.58.616.3
Op. Profit
Mgn %
66.379.38.59.810.19.17.17.38.7
Net Profit
Mgn %
2.72.7-0.11.71.43.225.15.23.77.5
Debt to
Equity
0.10.20.40.20.30.30.20.10.10.2-
Working Cap
Days
15013013419624819720317811510896
Cash Conv.
Cycle
99848411814210911198595654

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 16.30%

Sales growth is growing at healthy rate in last 3 years 27.68%

Net Profit is growing at healthy rate in last 3 years 55.73%

Sales growth is not so good in last 4 quarters at 6.49%

Latest Financials - Nitin Castings Ltd.

Standalone Consolidated
TTM EPS (₹) 20.4 -
TTM Sales (₹ Cr.) 140 -
BVPS (₹.) 134.9 -
Reserves (₹ Cr.) 67 -
P/BV 4.62 -
PE 30.48 -
From the Market
52 Week Low / High (₹) 214.50 / 697.80
All Time Low / High (₹) 1.25 / 697.80
Market Cap (₹ Cr.) 320
Equity (₹ Cr.) 2.6
Face Value (₹) 5
Industry PE 33.6

Management X-Ray of Nitin Castings:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Nitin Castings

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales364264615874646297133
Operating Expenses 343960565367585690124
Manufacturing Costs44130000000
Material Costs273237454152434475104
Employee Cost 2266687667
Other Costs 22445675813
Operating Profit 23465766710
Operating Profit Margin (%) 5.6%6.2%7.0%9.3%8.5%9.7%10.1%9.1%6.9%7.2%
Other Income 0001121221
Interest 0011111100
Depreciation 1144444222
Exceptional Items 0000000000
Profit Before Tax 1202132479
Tax 1101010114
Profit After Tax 1101121355
PAT Margin (%) 2.4%2.6%0.0%1.9%1.5%3.2%2.0%5.3%5.3%3.7%
Adjusted EPS (₹)3.24.00.12.31.64.62.66.310.09.5
Dividend Payout Ratio (%)0%13%384%22%31%11%0%8%5%8%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 22222243444647505560
Share Capital 1113333333
Reserves 21212141424344485357
Minority Interest0000000000
Debt25910121051310
Long Term Debt0002785000
Short Term Debt2497520039
Trade Payables234477781313
Others Liabilities 332691099869
Total Liabilities 30346166747267677892

Fixed Assets

Gross Block19204646626666676767
Accumulated Depreciation792529323640424445
Net Fixed Assets12112118303026242322
CWIP 0028000000
Investments 2420005161725
Inventories681416211619131926
Trade Receivables77131111129101312
Cash Equivalents 0111242031
Others Assets3371210107335
Total Assets 30346166747267677892

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 2113610101511
PBT 1212132479
Adjustment 1114556322
Changes in Working Capital 1-1-1-20329-6-7
Tax Paid -1-10-10-10-1-1-2
Cash Flow From Investing Activity -3-3-1-3-7-4-5-12-2-8
Capex 0-1-2-6-9-4-1-1-10
Net Investments -2-22200-5-110-7
Others 0000200000
Cash Flow From Financing Activity -42-112-4-7-526
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 0000500000
Interest Paid 0000-1-1-1-100
Dividend Paid 0000000000
Others -4201-2-3-5-436
Net Cash Flow -400012-2-12-1
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)4.044.980.123.591.925.22.826.79.788.5
ROCE (%)6.137.442.565.053.287.975.589.111.9913.5
Asset Turnover Ratio1.271.491.511.080.851.010.940.941.341.59
PAT to CFO Conversion(x)21INF3651050.20.2
Working Capital Days
Receivable Days67545165695859554234
Inventory Days565457801129197926162
Payable Days29293933515160615146

Nitin Castings Ltd Stock News

Nitin Castings Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Nitin Castings on 28-Mar-2024 16:01 is ₹615.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 28-Mar-2024 16:01 the market cap of Nitin Castings stood at ₹320.3.
The latest P/E ratio of Nitin Castings as of 28-Mar-2024 16:01 is 30.48.
The latest P/B ratio of Nitin Castings as of 28-Mar-2024 16:01 is 4.62.
The 52-week high of Nitin Castings is ₹697.8 and the 52-week low is ₹214.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Nitin Castings is ₹139.5 ( Cr.) .

About Nitin Castings Ltd

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:

  • Decanter Centrifugs
  • Bowl Extensions
  • Front Hubs
  • Rear Hubs
  • Filtration Wheels
  • Hub Conveyors
  • Solid Head Walls
  • Liquid Head Walls

Vavles :

  • Balls For Ball Valves
  • Seat Rings
  • Cages
  • Valve Bodies, Bonnets, Yokes For Gate Valve, Globe Valve
  • Valve Bodies & Discs For Butterfly Valves

Pump Industry

  • Casings
  • Impellers
  • Sleeves
  • Bushes etc.

Cement Plants

  • Grate Plates
  • Nose Ring Segments
  • Immersion Tubes
  • Tip Castings

Steel Plants

  • Radiant Tubes
  • Hearth Rolls
  • Sink Rolls
  • Retort Tubes
  • Grate Bars
  • Normalizing Furnace Rolls
  • Air injection Tubes
  • Briquette Deflector Rolls

Others

  • Parts of Earth Moving Equipments in low alloy steels
  • Rings for Metallic Ring Joint Gaskets
  • Lift Cylinders for Tyre Machinery
  • Liners for Compressors
  • Suction Rolls for Paper Industry 

Services offered by the company includes:

  • Fabricatio
  • Centrifugal casting
  • Static casting

Clientele:

  • Zuari Agro Chemicals Ltd.
  • Southern Petro Chemical Industries Corporation Ltd.
  • Hindusthan Organic Chemicals Ltd.
  • Andhra Petrochemicals Ltd.
  • Indian Oil Corporation Ltd.
  • Steel Authority of India Ltd.
  • Tata Steel 
  • Jindal Iron & Steel
  • Bharat Earth Movers Ltd.
  • Vulcan Engrs.Ltd.
  • Orient Cement
  • Vasavadatta Cement
  • L & T Cement and  many more

Achievements/ recognition:

  • ISO 9001:2000 certification from BVQI, London.
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