Nitin Spinners Ltd - Stock Valuation and Financial Performance

BSE: 532698 | NSE: NITINSPIN | Textile - Spinning | Small Cap

Nitin Spinners Share Price

406.50 16.85 4.32%
as on 11-Oct'24 16:01

DeciZen - make an informed investing decision on Nitin Spinners

Overall Rating
Bole Toh

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Nitin Spinners stock performance -

mw4me loader
P/E Ratio (SA):
15.75
Market Cap:
2,280.3 Cr.
52-wk low:
260.8
52-wk high:
473

Is Nitin Spinners Ltd an attractive stock to invest in?

1. Is Nitin Spinners Ltd a good quality company?

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

2. Is Nitin Spinners Ltd undervalued or overvalued?

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

3. Is Nitin Spinners Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Nitin Spinners Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Nitin Spinners:

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

Value Creation Index Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
ROCE % 17.9%17.8%13.3%11.9%11.4%6.3%11%36.4%12%11.6%-
Value Creation
Index
0.30.3-0.1-0.2-0.2-0.6-0.21.6-0.2-0.2-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6167679331,1451,2431,4381,6242,6922,4072,9063,092
Sales YoY Gr.-24.4%21.7%22.7%8.5%15.7%13%65.7%-10.6%20.7%-
Adj EPS 9.19.612.59.411.44.212.258.629.223.425.7
YoY Gr.-6.1%30%-24.7%21.3%-63.2%189.6%380.3%-50.1%-19.9%-
BVPS (₹) 36.444.957.77585.887.9100.2155.8183203.9211.4
Adj Net
Profit
41.644.157.352.364.323.668.6329164131145
Cash Flow from Ops. 44.510053.666.310498.2155431194163-
Debt/CF from Ops. 8.53.510.66.88.310.66.21.65.18.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 18.8%18.5%21.4%20.7%
Adj EPS 11.1%15.4%24.3%-19.9%
BVPS21.1%18.9%26.7%11.4%
Share Price 31.3% 53.2% 22.5% 37.7%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24TTM
Return on
Equity %
27.823.724.415.414.34.81345.817.212.112.4
Op. Profit
Mgn %
16.217.914.313.514.411.815.824.212.31313.6
Net Profit
Mgn %
6.75.86.14.65.21.64.212.26.84.54.7
Debt to
Equity
2.31.72.21.11.82.11.70.811.2-
Working Cap
Days
99102991001171201269712711851
Cash Conv.
Cycle
6163667484879368929218

Recent Performance Summary

Sales growth is growing at healthy rate in last 3 years 21.39%

Net Profit is growing at healthy rate in last 3 years 24.25%

Sales growth is good in last 4 quarters at 34.47%

Return on Equity has declined versus last 3 years average to 12.40%

Debt to equity has increased versus last 3 years average to 1.17

Latest Financials - Nitin Spinners Ltd.

Standalone Consolidated
TTM EPS (₹) 25.7 -
TTM Sales (₹ Cr.) 3,092 -
BVPS (₹.) 211.4 -
Reserves (₹ Cr.) 1,132 -
P/BV 1.92 -
PE 15.75 -
From the Market
52 Week Low / High (₹) 260.80 / 473.00
All Time Low / High (₹) 3.12 / 473.00
Market Cap (₹ Cr.) 2,280
Equity (₹ Cr.) 56.2
Face Value (₹) 10
Industry PE 27.4

Management X-Ray of Nitin Spinners:

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 Spinners

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Sales6167679331,1451,2431,4381,6242,6922,4072,906
Operating Expenses 5176308009901,0641,2681,3672,0412,1102,529
Manufacturing Costs7696126165159218251312296389
Material Costs3844635897287819149291,4491,5991,871
Employee Cost 344352616894112133133177
Other Costs 232833375542751468192
Operating Profit 99137133155178170257652297377
Operating Profit Margin (%) 16.1%17.9%14.3%13.5%14.3%11.8%15.8%24.2%12.3%13.0%
Other Income 5112322232
Interest 23332230295662553883
Depreciation 284042565581918787118
Exceptional Items 0000000-500
Profit Before Tax 546570719736107506176178
Tax 132113193312381801146
Profit After Tax 41445752642469326165132
PAT Margin (%) 6.6%5.8%6.1%4.6%5.2%1.7%4.2%12.1%6.8%4.5%
Adjusted EPS (₹)8.99.612.59.411.44.212.358.029.323.4
Dividend Payout Ratio (%)11%10%10%13%11%14%12%7%9%11%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24

Equity and Liabilities

Shareholders Fund 1672062644174834945638761,0291,146
Share Capital 46464656565656565656
Reserves 1211602183614264385078209731,090
Minority Interest0000000000
Debt3482995023988049638475978741,194
Long Term Debt294241389311619676564407561811
Short Term Debt535811288185287283190313383
Trade Payables9131826354155825274
Others Liabilities 8611810188114147211269263303
Total Liabilities 6106358859291,4361,6451,6761,8242,2182,717

Fixed Assets

Gross Block6216256546666751,3711,3801,3951,4802,296
Accumulated Depreciation2042434197151231321383469587
Net Fixed Assets4173826135705241,1401,0601,0121,0111,709
CWIP 017044680203402
Investments 0000000000
Inventories94115170205228265355406492564
Trade Receivables40394888121153166241223321
Cash Equivalents 1110301100
Others Assets58815261938894165151120
Total Assets 6106358859291,4361,6451,6761,8242,2182,717

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Cash Flow From Operating Activity 45100546610498155431194163
PBT 546570719736107511176178
Adjustment 5173648684136153146127203
Changes in Working Capital -50-24-65-76-59-64-89-123-56-192
Tax Paid -11-13-16-15-19-10-16-102-53-25
Cash Flow From Investing Activity -219-36-241-20-483-217-11-86-433-426
Capex -254-5-273-13-9-697-11-44-86-816
Net Investments 0000000000
Others 35-3132-8-4754800-42-348391
Cash Flow From Financing Activity 176-65188-47382116-144-345239262
Net Proceeds from Shares 000112800000
Net Proceeds from Borrowing 162-31162-9431379-75-180168289
Interest Paid -23-33-22-30-29-56-62-55-38-83
Dividend Paid -3-5-5-6-7-7-3-17-14-14
Others 39354-3097100-3-9312370
Net Cash Flow 101-13-30000
PARTICULARSMar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24
Ratios
ROE (%)27.4423.724.4115.3814.264.8813.0345.3217.3112.09
ROCE (%)17.9117.8113.3211.8911.436.3410.9936.3511.9511.61
Asset Turnover Ratio1.281.231.231.261.050.930.981.541.191.18
PAT to CFO Conversion(x)1.12.270.951.271.634.082.251.321.181.23
Working Capital Days
Receivable Days19191722313536283534
Inventory Days49505660646370526866
Payable Days1091011141519171512

Nitin Spinners Ltd Stock News

Nitin Spinners Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Nitin Spinners on 11-Oct-2024 16:01 is ₹406.5.
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 11-Oct-2024 16:01 the market cap of Nitin Spinners stood at ₹2,280.3.
The latest P/E ratio of Nitin Spinners as of 11-Oct-2024 16:01 is 15.75.
The latest P/B ratio of Nitin Spinners as of 11-Oct-2024 16:01 is 1.92.
The 52-week high of Nitin Spinners is ₹473.0 and the 52-week low is ₹260.8.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Nitin Spinners is ₹3,092 ( Cr.) .

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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