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Nitin Spinners Ltd (NITINSPIN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532698 NSE: NITINSPIN Textile - Spinning | Small Cap | Nitin Spinners Share Price

₹639.30 -0.15 (-0.02%)

As on 04-Sep'26 16:59

Nitin Spinners Ltd (NITINSPIN)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532698 NSE: NITINSPIN Textile - Spinning | Small Cap | Nitin Spinners Share Price

₹639.30 -0.15 (-0.02%)

As on 04-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹3,595 Cr.
Current Price
₹639.3
52-Week Low / High
₹300 / 649
TTM EPS
₹37.7
TTM Sales
₹3,296 Cr.
Book Value per Share
₹275
P/E Ratio
16.97
Higher than its 5-year historical median
Industry PE
19.1
Price to Book (P/B)
2.33
Higher than its 5-year historical median
Price to Sales (P/S)
1.09
Higher than its 5-year historical median
EV/EBITDA
9.37
Higher than its 5-year historical median
Dividend Yield
0.47%
Profitability Efficiency
Return on Equity (ROE)
12.76%
Outperforms industry median
Return on Capital Employed (ROCE)
12.21%
Outperforms industry median
Return on Assets (ROA)
6.29%
Operating Profit Margin
14.1%
Net Profit Margin
5.52%
Gross Profit Margin
12%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-2.78%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-3.96%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
1.21%
Asset Quality
Promoter Holding
56.71%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹1,490 Cr.
Equity
₹56.2 Cr.
Face Value
₹10
All Time Low / High
₹3.12 / 646.80

Nitin Spinners stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Nitin Spinners Ltd a good quality company?
Nitin Spinners 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 Nitin Spinners Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Nitin Spinners Ltd vs industry peers?
Nitin Spinners Ltd revenue CAGR is 14.62%, compared to the industry median CAGR of 1.92%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Nitin Spinners Ltd?
Promoters hold 56.71% of the Nitin Spinners Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Nitin Spinners Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 24.3% 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 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 Spinners 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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 13.3%11.9%11.4%6.3%11%36.4%12%11.6%13.2%12.2%-
Value Creation
Index
-0.1-0.2-0.2-0.6-0.21.6-0.2-0.2-0.1-0.1-

Growth Parameters

Sales 9331,1451,2431,4381,6242,6922,4072,9063,3063,2143,296
Sales YoY Gr.-22.7%8.5%15.7%13%65.7%-10.6%20.7%13.8%-2.8%-
Adj EPS 12.59.411.44.212.258.629.223.431.231.637.7
YoY Gr.--24.7%21.3%-63.2%189.6%380.3%-50.1%-19.9%33.5%1.2%-
BVPS (₹) 57.77585.887.9100.2155.8183203.9233.2261.6275
Adj Net
Profit
57.352.364.323.668.6329164131175178212
Cash Flow from Ops. 53.666.310498.2155431194163307411-
Debt/CF from Ops. 10.66.88.310.66.21.65.18.23.82.7-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 14.7%14.6%10.1%-2.8%
Adj EPS 10.8%21%2.7%1.2%
BVPS18.3%21.2%12.7%12.2%
Share Price 24.1% 24.1% 26.5% 91.1%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
24.415.414.34.81345.817.212.114.312.814
Op. Profit
Mgn %
14.313.514.411.815.824.212.31314.314.115.1
Net Profit
Mgn %
6.14.65.21.64.212.26.84.55.35.56.4
Debt to
Equity
2.21.11.82.11.70.811.20.90.8-
Working Cap
Days
991001171201269712711811813857
Cash Conv.
Cycle
66748487936892929610623

Valuation of Nitin Spinners - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Management X-Ray

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 (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales9331,1451,2431,4381,6242,6922,4072,9063,3063,214
Operating Expenses + 8009901,0641,2681,3672,0412,1102,5292,8342,761
Manufacturing Costs126165175218251312296389433452
Material Costs5897287819149291,4491,5991,8712,0631,976
Employee Cost 52616894112133133177201209
Other Costs 33374042751468192137124
Operating Profit 133155178170257652297377471453
Operating Profit Margin (%) 14.3%13.5%14.3%11.8%15.8%24.2%12.3%13.0%14.3%14.1%
Other Income + 1232223245
Exceptional Items 00000-50000
Interest 22302956625538839071
Depreciation 42565581918787118148148
Profit Before Tax 70719736107506176178237239
Tax 131933123818011466261
Profit After Tax 5752642469326165132175178
PAT Margin (%) 6.1%4.6%5.2%1.7%4.2%12.1%6.9%4.5%5.3%5.5%
Adjusted EPS (₹)12.59.411.44.212.358.029.323.431.231.6
Dividend Payout Ratio (%)9.60%12.70%11%14.20%12.20%6.90%8.50%10.70%9.60%9.50%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 2644174834945638761,0291,1461,3111,471
Share Capital 46565656565656565656
Reserves 2183614264385078209731,0901,2551,415
Debt +5023988049638475978741,194991945
Long Term Debt389311619676564407561811637545
Short Term Debt11288185287283190313383354400
Minority Interest0000000000
Trade Payables182635415582527489102
Others Liabilities 10188114147211269263303341397
Total Liabilities 8859291,4361,6451,6761,8242,2182,7172,7322,915

Fixed Assets

Net Fixed Assets +6135705241,1401,0601,0121,0111,7091,5771,489
Gross Block6546666751,3711,3801,3951,4802,2962,3112,370
Accumulated Depreciation4197151231321383469587733880
CWIP 0446802034027102
Investments 00000000017
Inventories170205228265355406492564607608
Trade Receivables4888121153166241223321430432
Cash Equivalents 10301100109
Others Assets 5261938894165151120102258
Total Assets 8859291,4361,6451,6761,8242,2182,7172,7322,915
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 546610498155431194163307411
PBT 70719736107511176178237239
Adjustment 648684136153146127203240223
Changes in Working Capital -65-76-59-64-89-123-56-192-1175
Tax Paid -16-15-19-10-16-102-53-25-53-57
Cash Flow From Investing Activity + -241-20-483-217-11-86-433-426-22-287
Capex -273-13-9-697-11-44-86-816-16-60
Net Investments 000000000-17
Others 32-8-475480-0-42-348391-5-209
Cash Flow From Financing Activity + 188-47382116-144-345239262-279-128
Net Proceeds from Shares 011280000000
Net Proceeds from Borrowing 162-9431379-75-180168289-145-86
Interest Paid -22-30-29-56-62-55-38-83-90-71
Dividend Paid -5-6-7-7-3-17-14-14-14-17
Others 54-3097100-3-9312370-2946
Net Cash Flow 1-13-3-00-0-07-4
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)24.4115.3814.264.8813.0345.3217.3112.0914.2812.76
ROCE (%)13.3211.8911.436.3410.9936.3511.9511.6113.1912.21
Asset Turnover Ratio1.231.261.050.930.981.541.191.181.211.14
PAT to CFO Conversion(x)0.951.271.634.082.251.321.181.231.752.31
Working Capital Days
Receivable Days17.1021.7030.7034.7035.8027.6035.1034.2041.5048.90
Inventory Days55.7059.8063.7062.5069.6051.6068.1066.3064.7069
Payable Days9.701114.3015.4018.9017.2015.3012.3014.4017.60

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Nitin Spinners Ltd FAQs

The current trading price of Nitin Spinners on 04-Sep-2026 16:59 is ₹639.3.

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 03-Sep-2026 the market cap of Nitin Spinners stood at ₹3,595 Cr

The latest P/E ratio of Nitin Spinners as of 03-Sep-2026 is 16.97.

The latest P/B ratio of Nitin Spinners as of 03-Sep-2026 is 2.33.

The 52-week high of Nitin Spinners is ₹649.2 and the 52-week low is ₹300.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Nitin Spinners is ₹3,296 ( Cr.) .

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

The key valuation ratios of Nitin Spinners 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 Strong which suggest that the price of Nitin Spinners Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Nitin Spinners Ltd

Nitin Spinners Ltd was incorporated as a private limited company on October 15, 1992 under the Companies Act 1956 in the state of Rajasthan having the name ‘Nitin Spinners Private Limited’. Subsequently the company was converted into a public limited company on November 15, 1994 and the name was changed to Nitin Spinners Limited. The company was promoted by R. L. Nolkha Dinesh Nolkha and Nitin Nolakha.

Starting with one open-end facility, the company has grown into one of the largest producers of 100% cotton yarn and fabrics in India. It possesses one of the best pool of skilled workforce in the textile Industry.

Nitin at present has an installed capacity of 27216 spindles, 1872 rotors and 15 knitting machines. Nitin is situated on N.H.No.79, Hamirgarh, 16 KM away from Bhilwara the textile city of Rajasthan in India. Its products are meant for apparel & garment industry, terry towels, knitted fabrics, denims, woven fabrics, furnishings, carpets, industrial fabrics, medical fabric etc. The company has tied up for long term yarn supplies with denim, terry towel, knitting and other Industrial fabrics manufacturers in India & abroad.

Its diverse competencies enable it to address the most challenging business realities effectively. This rich people capital has been manifested in its unmatched reputation, its wide product variety, its export exposure and above-the-market realizations.

The company has been an innovator in textile field and conducted its business with the purpose of growing into a notable organization. Today, despite in the midst of highly fierce and competitive textile markets, Nitin Spinners Ltd. is still poised to serve both local and international markets with a pledge of providing great satisfaction to its  customers. In an effort to finalize this vertical plan, there are plans underway to enter the apparels sector to complete the production chain from yarn to ready-to-wear garments.

Today, with the combined installed capacity of nearly 80000 spindles & 4000 rotors, manufacturing 25000 tons of yarn and threads per annum, the company has carved a niche for itself on the textile map of the country.

Its Fabric Unit has also shown an upward growth trend since its inception. Today, with the production & supply of 4000 tons of fabric per annum, its top quality fabric is already making its presence felt in the global textile industry.

The company is exporting cotton yarns and knitted fabrics to countries like Australia, Bahrain, China, Colombia, Egypt, Israel, Italy, Korea, Mauritius, Russia, Poland, U.K., U.S.A. and others. It supply to customers, who are in fields like apparel and garment industry, industrial fabrics, furnishing fabrics, towels, denims etc. At present, its exports are restricted to around 18-20 countries only, which leaves more scope for the company to develop new markets and to increase its presence accordingly. Further, with the phasing out of quota restrictions, the company is expecting to achieve high growth rate in the global markets in the coming years.

Product range of the company includes:

Yarns

  • Open End yarns from Ne 5/1 to Ne 30/1 ( Nm 8/1 to Nm 50/1 ) 
  • Multifold Open End Yarns
  • Ring Spun Combed Yarns from Ne 20/1 to Ne 50/1 ( Nm 34/1 to Nm 85/1) 
  • Multifold Ring Spun Yarns
  • 'S' & 'Z' Twist Yarns
  • Dyeable cheese cones - Soft package
  • 100% Organic Cotton Yarns and Blends

Knitted Fabrics

  • Single Jersey 
  •  Pique structures 
  •  Interlock structures
  •  Rib structures
  •  Three Thread Fleece 

Woven Fabrics

Achievements/ recognition:

ISO 9001: 2000 accreted

Certificates from:

  • Organic Exchange
  • Export House
  • Bureau of Indian Standards
  • Oeko-Tex Standard
  • GOTS/Sustainable
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