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Nitco Ltd (NITCO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532722 NSE: NITCO Ceramics/Marble/Granite/Sanitaryware | Small Cap | Nitco Share Price
₹88.05 -2.32 (-2.57%)
As on 25-Sep'26 16:59
Nitco Ltd (NITCO)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532722 NSE: NITCO Ceramics/Marble/Granite/Sanitaryware | Small Cap | Nitco Share Price
₹88.05 -2.32 (-2.57%)
As on 25-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹2,224 Cr.
Current Price
₹88.1
52-Week Low / High
₹64 / 120
TTM EPS
₹-1.1
TTM Sales
₹503 Cr.
Book Value per Share
₹17.1
P/E Ratio
0.00
Industry PE
39.1
Price to Book (P/B)
5.15
Higher than its 5-year historical median
Price to Sales (P/S)
4.42
Higher than its 5-year historical median
EV/EBITDA
-113.83
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
10.94%
Outperforms industry median
Return on Capital Employed (ROCE)
6.58%
Outperforms industry median
Return on Assets (ROA)
2.85%
Operating Profit Margin
7.7%
Net Profit Margin
5.29%
Gross Profit Margin
7.9%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
73.11%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
20.17%
Pledged shares (%) of Promoter's holding (%)
67.13%
Reserves
₹179 Cr.
Equity
₹252.6 Cr.
Face Value
₹10
All Time Low / High
₹10.80 / 336.85
Check Before You Invest
Quality
Somewhat GoodValuation
FairCheck Valuation charts
Price Trend
Weak
Is Nitco Ltd a good quality company?
Nitco Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Nitco Ltd performance compare with that of its Peers?
Revenue growth of Nitco Ltd vs industry peers?
Nitco Ltd revenue CAGR is 10.64%, compared to the industry median CAGR of 0.00%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Nitco Ltd?
Promoters hold 20.17% of the Nitco Ltd, with 67.13% of their stake pledged, indicating high pledge risk.
Stock return of Nitco Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 1.1% based on the current price.
10 Year X-Ray :
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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Nitco Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | -2.5% | 16.7% | -2.8% | -4.3% | -9.3% | -9.5% | -13.6% | -12.3% | -143.5% | 7.1% | - |
| Value Creation Index ⓘ | NA | 0.2 | -1.2 | -1.3 | NA | NA | NA | NA | -11.3 | -0.5 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 696 | 599 | 588 | 458 | 325 | 409 | 382 | 323 | 312 | 540 | 501 |
| Sales YoY Gr. | - | -13.9% | -1.7% | -22.1% | -29.1% | 25.7% | -6.6% | -15.4% | -3.5% | 73.1% | - |
| Adj EPS ⓘ | -5.9 | 2.7 | -6.5 | -11.6 | -17.3 | -18 | -19.5 | -21.8 | -18.1 | 1.6 | -1 |
| YoY Gr. | - | NA | -343.8% | NA | NA | NA | NA | NA | NA | NA | - |
| BVPS (₹) ⓘ | -24.5 | 20.4 | 13.9 | 7.7 | -9.6 | -27.1 | -48.1 | -69.9 | 9.1 | 14.6 | 17.9 |
| Adj Net Profit ⓘ | -32.2 | 19.1 | -46.5 | -83.1 | -124 | -129 | -140 | -157 | -414 | 37.3 | -24 |
| Cash Flow from Ops. ⓘ | 15.8 | 430 | 17 | 22.9 | 11.1 | 4.6 | 2.8 | -1 | -139 | -154 | - |
| Debt/CF from Ops. ⓘ | 81.8 | 2 | 51 | 31 | 68.3 | 178.2 | 318.6 | -975.3 | -1.5 | -1.6 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | -2.8% | 10.7% | 12.2% | 73.1% | ||||
| Adj EPS ⓘ | NA | NA | NA | NA | ||||
| BVPSⓘ | NA | NA | NA | 61.1% | ||||
| Share Price | 0.9% | 30.6% | 67.3% | -21% | ||||
Key Financial Parameters ⓘ
| Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 27.2 | 128 | -33 | -96.3 | 1780.6 | 97.9 | 51.9 | 37 | 343.8 | 11.5 | -5.9 |
| Op. Profit Mgn % ⓘ | 1 | 0.7 | 0.4 | -10.1 | -11.7 | -9.5 | -9.8 | -11.5 | -63.2 | 7.9 | -6.4 |
| Net Profit Mgn % ⓘ | -4.6 | 3.2 | -7.9 | -18.1 | -38.2 | -31.6 | -36.8 | -48.5 | -132.7 | 6.9 | -4.8 |
| Debt to Equity ⓘ | -9.6 | 5.8 | 8.7 | 12.8 | -10.9 | -4.2 | -2.5 | -1.9 | 1 | 0.7 | - |
| Working Cap Days ⓘ | 410 | 452 | 439 | 505 | 577 | 418 | 424 | 454 | 568 | 475 | 270 |
| Cash Conv. Cycle ⓘ | 168 | 203 | 201 | 226 | 261 | 173 | 156 | 141 | 240 | 242 | 154 |
Valuation of Nitco - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 96.74 | 94.80 | 96.88 | 96.88 | 87.75 | 87.75 | 87.75 | 87.75 | 67.13 | 67.13 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 716 | 610 | 595 | 460 | 327 | 411 | 384 | 325 | 314 | 542 |
| Operating Expenses ⓘ + | 692 | 606 | 596 | 557 | 376 | 450 | 421 | 368 | 512 | 501 |
| Operating Profit ⓘ | 24 | 4 | -2 | -97 | -49 | -39 | -37 | -43 | -198 | 41 |
| Operating Profit Margin (%) | 3.3% | 0.6% | -0.3% | -21.0% | -14.9% | -9.6% | -9.7% | -13.2% | -62.9% | 7.6% |
| Other Income ⓘ + | 2 | 5 | 2 | 9 | 3 | 7 | 5 | 5 | 14 | 12 |
| Interest ⓘ | 8 | 14 | 22 | 23 | 54 | 64 | 73 | 96 | 70 | 10 |
| Depreciation ⓘ | 50 | 81 | 39 | 31 | 31 | 30 | 29 | 29 | 25 | 10 |
| Profit Before Tax ⓘ | -32 | 162 | -61 | -71 | -130 | -126 | -151 | -163 | -741 | 29 |
| Tax ⓘ | 1 | -23 | -1 | 1 | 10 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -34 | 185 | -60 | -72 | -140 | -126 | -151 | -163 | -741 | 29 |
| PAT Margin (%) | -4.7% | 30.3% | -10.1% | -15.7% | -42.8% | -30.7% | -39.4% | -50.1% | -235.0% | 5.3% |
| Adjusted EPS (₹) | -6.1 | 26.3 | -7.5 | -6.6 | -19.1 | -17.6 | -21.1 | -22.7 | -32.4 | 1.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | -129 | 148 | 94 | 64 | -73 | -198 | -349 | -512 | 193 | 331 | |
| Debt + | 600 | 835 | 764 | 574 | 457 | 200 | 200 | 200 | 257 | 260 | |
| Minority Interest | 21 | 17 | 11 | -14 | -17 | -17 | -17 | -17 | -0 | -0 | |
| Trade Payables | 166 | 166 | 207 | 166 | 126 | 143 | 159 | 158 | 93 | 113 | |
| Others Liabilities ⓘ | 828 | 182 | 231 | 239 | 429 | 744 | 825 | 902 | 379 | 386 | |
| Total Liabilities ⓘ | 1,485 | 1,348 | 1,308 | 1,028 | 923 | 871 | 818 | 730 | 921 | 1,090 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 624 | 548 | 518 | 458 | 396 | 368 | 341 | 314 | 299 | 137 | |
| CWIP ⓘ | 3 | 4 | 6 | 5 | 5 | 4 | 4 | 4 | 4 | 11 | |
| Investments ⓘ | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | |
| Inventories | 500 | 359 | 344 | 281 | 266 | 251 | 255 | 243 | 373 | 429 | |
| Trade Receivables | 150 | 203 | 210 | 145 | 100 | 97 | 74 | 37 | 64 | 168 | |
| Cash Equivalents | 21 | 67 | 60 | 11 | 13 | 12 | 11 | 7 | 91 | 31 | |
| Others Assets ⓘ | 187 | 167 | 169 | 129 | 144 | 139 | 132 | 125 | 88 | 313 | |
| Total Assets ⓘ | 1,485 | 1,348 | 1,308 | 1,028 | 923 | 871 | 818 | 730 | 921 | 1,090 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 31 | 370 | 25 | 35 | 12 | 5 | 3 | -9 | -148 | -153 |
| Cash Flow From Investing Activity ⓘ + | -10 | -6 | -11 | -4 | -2 | 4 | -0 | -0 | 4 | -10 |
| Cash Flow From Financing Activity ⓘ + | -25 | -367 | -16 | -36 | -8 | -9 | -3 | 5 | 228 | 102 |
| Net Cash Flow ⓘ | -4 | -3 | -2 | -5 | 2 | -0 | -1 | -4 | 84 | -60 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | N/A | 2007.78 | -49.65 | -91.41 | N/A | N/A | N/A | N/A | 0 | 10.94 |
| ROCE (%) | N/A | 15.65 | -3.82 | -5.33 | N/A | N/A | N/A | N/A | -137.68 | 6.58 |
| Asset Turnover Ratio | 0.49 | 0.44 | 0.45 | 0.39 | 0.34 | 0.46 | 0.45 | 0.42 | 0.38 | 0.54 |
| PAT to CFO Conversion(x) | N/A | 2 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -5.28 |
| Working Capital Days | ||||||||||
| Receivable Days | 75.20 | 104.40 | 126.60 | 140.60 | 136.50 | 87.30 | 81.20 | 62.40 | 59 | 78.40 |
| Inventory Days | 244.80 | 254.10 | 215.90 | 247.80 | 305.40 | 229.70 | 240.70 | 279.60 | 357.80 | 270 |
| Payable Days | 159.30 | 197.20 | 196.20 | 195.90 | 211.80 | 150 | 179.30 | 225 | 192.20 | 108.60 |
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Announcements
Nitco Ltd FAQs
The current trading price of Nitco on 25-Sep-2026 16:59 is ₹88.05.
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 24-Sep-2026 the market cap of Nitco stood at ₹2,223.9 Cr
The latest P/E ratio of Nitco as of 24-Sep-2026 is 0.00.
The latest P/B ratio of Nitco as of 24-Sep-2026 is 4.91.
The 52-week high of Nitco is ₹120.0 and the 52-week low is ₹64.20.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Nitco is ₹501 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Nitco Ltd is a average quality company.
The key valuation ratios of Nitco Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Nitco Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Nitco Ltd
Nitco is engaged in the manufacture of flooring tiles in India. Previously known as Nitco Tiles, the company is one of the largest manufacturers of flooring tiles in India.
Headquartered in Mumbai, the Nitco Group owns 4 factories and various offices in major cities. The company has a distribution network of 18 depots, 750 direct dealers and over 5000 retail outlets spread across the country.
Nitco exports 20% of its production to various countries. It has global presence across 24 countries, including the United States, Canada, Europe, Africa, Oman, UAE and the Indian Ocean countries, and this network is fast growing. The company has installed 6 wind turbine generators. The company has created brands like INTARSIA, MOSAICO
Products
The company is engaged in the manufacture of ceramic tiles, vitrified tiles, mosaico, marble, cement terrazzo tiles and cement.
It manufactures OPC 43 Grade cement and has presence in Mumbai, Pune, Tamil Nadu, Karnataka and Kerala. Under cement, it has created brands like Lucky Cement, DG Khan Cement and Maple Leaf Cement.
Milestones
1966-Nitco was incorporated.
1984-The company started processing and distribution of imported marble.
1997-The company commenced manufacturing of ceramic tiles at Alibag.
2001- Import of vitrified tiles.
2002-Company’s processing unit in Silvassa was awarded with ‘Quality Excellence Award’.
2004- Nitco commenced upgradation of its ceramic tiles plant.
2006- The company expanded manufacturing capacity of ceramic tiles that is located at Alibag.
Company got listed on Bombay Stock Exchange and National Stock Exchange.
Nitco forayed into real estate development business through Nitco Realties
2007-Nitco opened 10 exclusive showrooms-'Lee Studio' across India.
The company received Best SAP Project Implementation Award from SAP India.
Company plans for expansion of manufacturing capacity for vitrified tiles at Gujrat and ceramic tiles at Alibag
Recognition
Nitco has received the status of 'Export House' by the Government of India in the year 2002.
Nitco has also received Capexil award for exports excellence, for the 13th consecutive year.
2009 - Construction World Award Winner.
Nitco becomes a one stop shop solution, providing all premium flooring solutions, by including wall tiles to its product portfolio.
2010 - Setup of world class marble processing facility from Breton (Italy) at Silvassa
2012 - Approval of CDR Package and Issuance of LOA.
2013 - NITCO bags 20th rank in dream company to work for category by The World HRD Congress Award.
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