Nitin Castings Ltd Stock Analysis

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

BSE Share Price Jul 01, 18:01
126.00 -4.50 (-3.45%)

DeciZen - Make an Informed Decision on Nitin Castings

M-Cap below 100cr DeciZen not available

FAQs

1. Is Nitin Castings Ltd a good quality company?

Data is not available for this 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.

Value Creation

Value Creation Index Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
ROCE % 8%7%4.3%5.1%1.6%3.2%2.7%5.7%4.2%7.2%-
Value Creation Index -0.4-0.5-0.7-0.6-0.9-0.8-0.8-0.6-0.7-0.5-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 34.534.736.342.164.361.557.573.864.16297
YoY Gr. Rt. %-0.5%4.8%15.9%52.9%-4.4%-6.5%28.2%-13.1%-3.3%-
Adj EPS 55.23.54-0.121.64.62.66.210
YoY Gr. Rt. %-3%-32.2%13.9%-103.2%NA-20%188.8%-44.8%142%-
BVPS (₹) 71.476.579.679.278.884.585.889.291.397.8107.4
Adj Net Profit 1.41.511.1010.82.41.33.25
Cash Flow from Ops. 1.92.22.511.12.75.89.99.715.3-
Debt/CF from Ops. 2.93.315.48.73.62.41.30.80.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 6.7%-0.7%2.5%-3.3%
Adj EPS 2.3%NA56.8%142%
BVPS 3.64.44.57.2
Share Price 18.3% 16.6% 18.7% 39.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21TTM
Return on Equity % 7.374.55-0.12.41.95.32.86.59.8
Op. Profit Mgn % 11.110.166.379.38.59.810.19.16.8
Net Profit Mgn % 4.14.22.72.7-0.11.71.43.225.15.4
Debt to Equity 0.30.30.10.20.40.20.30.30.20.10
Working Cap Days 155161150130134196248197203178173
Cash Conv. Cycle 1049799848411814210911198100

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 9.80%

Net Profit is growing at healthy rate in last 3 years 56.82%

Sales growth is good in last 4 quarters at 76.29%

Sales growth has been subdued in last 3 years 2.52%

Latest Financials - Nitin Castings Ltd.

Standalone Consolidated
TTM EPS (₹) 10 -
TTM Sales (₹ Cr.) 96.5 -
BVPS (₹.) 107.4 -
Reserves (₹ Cr.) 53 -
P/BV 1.17 -
PE 12.55 -
From the Market
52 Week Low / High (₹) 82.00 / 169.95
All Time Low / High (₹) 1.25 / 169.95
Market Cap (₹ Cr.) 64.8
Equity (₹ Cr.) 2.6
Face Value (₹) 5
Industry PE 10.5

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

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News

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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