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Nitco Ltd. Stock Analysis

Small Cap
Evaluated by 637 users | BSE: 532722 | NSE: NITCO |
Ceramics/Marble/Granite/Sanitaryware
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...

Analysis of Financial Track Record

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.
Nitco Ltd. has not performed well majority of the past ten years indicating its past ten year financial track record is not good
Value Creation
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Capital Employed 0.25%4.44%1.84%-9.42%-7.9%-7.19%-4.71%-2.57%2.32%-3.31%
Growth Parameters
Growth Parameters Colour Code Guide
Net Sales (Rs. Cr.) 449712938850813874823696599590
Y-o-Y Gr. Rt.-58.6%31.6%-9.3%-4.4%7.5%-5.9%-15.5%-13.9%-1.4%
Adjusted EPS (Rs.) -2.718.19-9.61-70.96-38.62-22.37-11.15-5.882.65-6.53
Y-o-Y Gr. Rt.-NA-217.3%NANANANANANA-346.4%
Book Value per Share (Rs.) 158.57166.56147.2676.317.04-7.15-18.63-24.5420.3913.88
Adjusted Net Profit -8.726.3-31.3-231-211-122-61-32.219.1-46.9
Net Op. Cash Flow (Rs. Cr.) -42.542164-32745.422.5-13.715.843017.6
Debt to Cash Flow from Ops -10.7113.644.4-3.627.5756.76-94.9881.841.9849.14
Standalone financials take only the parent company into account while consolidated financials take into account financials of the parent company as well as of all its subsidiaries. In most companies consolidated financials should be used for analysis.
Nitco Ltd. should be analysed on a Standalone basis
CAGR
CAGR Colour Code Guide
  9 yrs 5 yrs 3 yrs 1 yr
Net Sales 3.1%-6.2%-10.5%-1.4%
Adjusted EPS NANANA-346.4%
Book Value per Share -23.7-40-31.9
Share Price -10.5% -9.1% -42.2% -36.8%
Key Financial Parameter
Performance Ratio Colour Code Guide
 Mar'10Mar'11Mar'12Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19
Return on Equity (%) -1.695.03-6.17-61.14-114.2-452.5786.5127.24128-33.35
Operating Profit Margin (%) 6.1810.969.22-4.74-3.2-1.91-0.561.020.670.41
Net Profit Margin (%) -1.943.69-3.34-27.2-25.97-14-7.41-4.623.18-7.95
Debt to Equity 0.891.071.54.7413.43-32.61-12.77-9.645.88.66
Working Capital Days 477368329366352324344410452438
Cash Conversion Cycle 157137106100170136139168203201
Entity Percentage Holding
Promoters 53.00%
Institutions 23.88%
Non-Institutions 22.98%
Pledged *91.4591.4491.4491.5091.4191.4191.4191.4191.4191.41
* Pledged shares as % of Promoter's holding (%)

MoneyWorks4Me analysed the past 10-year performance of Nitco and arrived at the following conclusion:

Past 10 year's financial track record indicates that Nitco is a below average quality company. However, for specific investment actions please connect with your investment advisor.

The 5-year analysis of Nitco's performance infers:

Nitco earnings have grown by 0%, whereas share price has depreciated -9.1% CAGR over the past five years, indicating the company's share price is likely undervalued. However, for specific investment actions please connect with your investment advisor.

We analysed the performance of Nitco share prices over the last 10 years. Here is what we found out:

Nitco share price has depreciated -12.9% annually over the past ten years.

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

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.

 

Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
Research Analyst - INH000000719

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