NIBE Ltd.
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ABOUT
AI Sector View
AI GENERATEDCapital Goods
Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.
PROS
- Promoters have been increasing their shareholding - up 2.3pp over 2 years
- Working capital cycle has improved - days down from 96 to 53
- Institutional investors have been accumulating - FII+DII up 2.7pp
- Company maintains a comfortable, low leverage position
CONS
- Receivables are growing faster than sales - a possible quality concern
- Recent results are weak - TTM profit is down 166.4% versus prior year
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.25x)
- Free cash flow has been persistently negative
- Stock is trading at 6.5x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| HAL | 4898.75 | 35.15 | 327616.15 | 0.92 | 1589.66 | 14.88 | 5515.17 | 14.45 | 31.99 | 27.89 |
| BEL | 405.50 | 48.23 | 296411.53 | 0.62 | 1054.53 | 8.82 | 5546.98 | 24.94 | 36.68 | 25.22 |
| BDL | 1190.50 | 83.80 | 43639.27 | 0.41 | 118.79 | 547.36 | 572.24 | 147.63 | 13.91 | 14.52 |
| DATAPATTNS | 4832.90 | 3517.81 | 27056.49 | 0.21 | 220.60 | 765.10 | 1160.30 | 1068.13 | 23.18 | 27.04 |
| ASTRAMICRO | 1677.95 | 84.27 | 15931.30 | 0.14 | 12.35 | -24.12 | 176.66 | -11.55 | 20.29 | 20.40 |
| APOLLO | 421.95 | 129.24 | 15679.64 | 0.06 | 25.22 | 42.58 | 251.29 | 88.12 | 14.52 | 21.38 |
| ZENTEC | 1722.85 | 86.35 | 15556.12 | 0.06 | 31.85 | -39.99 | 141.64 | -10.48 | 16.83 | 27.13 |
| AEQUS | 226.05 | 304.43 | 15160.40 | 0.00 | -532.28 | -6067.26 | 3955.45 | 1486.69 | 1.50 | 4.47 |
| PARAS | 1433.00 | 122.27 | 11548.16 | 0.07 | 20.74 | 45.34 | 127.91 | 37.26 | 18.68 | 24.95 |
| UNIMECH | 1609.30 | 113.74 | 8191.66 | 0.00 | 27.86 | 45.70 | 107.62 | 70.85 | 12.10 | 36.35 |
| AXISCADES | 1831.10 | 214.34 | 7788.31 | 0.00 | -14.76 | -170.76 | 183.35 | -24.77 | 14.56 | 4.73 |
| NIBE | 1282.10 | 468.64 | 1987.48 | 0.10 | -12.00 | -1250.24 | 63.01 | -23.62 | 17.98 | -15.12 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 26 | 41 | 63 | 152 | 110 | 136 | 149 | 113 | 82 | 73 | 59 | 260 | 63 | |
| 23 | 35 | 56 | 133 | 95 | 118 | 142 | 93 | 75 | 78 | 69 | 208 | 80 | |
| Operating Profit | 3 | 6 | 7 | 19 | 15 | 18 | 7 | 19 | 8 | -4 | -10 | 51 | -17 |
| OPM % | 12.21% | 14.13% | 11.05% | 12.64% | 13.97% | 13.30% | 4.80% | 16.99% | 9.09% | -6.09% | -16.22% | 19.77% | -27.42% |
| 0 | 0 | 2 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | |
| Interest | 1 | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 4 | 7 | 3 |
| Depreciation | 1 | 1 | 1 | 3 | 4 | 5 | 5 | 4 | 5 | 7 | 8 | 8 | 4 |
| Profit before Tax | 1 | 4 | 6 | 15 | 11 | 12 | 2 | 15 | 2 | -13 | -22 | 37 | -15 |
| Tax % | 43.45% | 27.08% | 21.39% | 30.51% | 27.97% | 26.32% | -1.05% | 40.56% | 41.34% | 26.31% | 13.48% | 25.68% | 21.24% |
| Net Profit | 0 | 0 | 0 | 0 | 8 | 9 | 2 | 9 | 1 | -10 | -19 | 28 | -12 |
| 0.70 | 2.36 | 3.48 | 7.94 | 6.00 | 6.34 | 1.35 | 6.11 | 0.72 | -6.69 | -11.76 | 20.11 | -7.34 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|
| 105 | 282 | 507 | 455 | |
| 93 | 246 | 447 | 435 | |
| Operating Profit | 12 | 36 | 60 | 20 |
| OPM % | 11.30% | 12.64% | 11.85% | 4.39% |
| -2 | 4 | 5 | 5 | |
| Interest | 3 | 7 | 8 | 17 |
| Depreciation | 4 | 6 | 17 | 29 |
| Profit before Tax | 3 | 26 | 40 | -13 |
| Tax % | 51.64% | 28.68% | 30.71% | 0.80% |
| Net Profit | 2 | 19 | 27 | -13 |
| EPS | 1.51 | 14.45 | 18.70 | — |
| Dividend Payout % | 7.57% | 6.92% | 6.69% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- 9%
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 12%
- Last Year:
- 15%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| Equity Capital | 12 | 13 | 14 |
| Minority Interest | 0 | 26 | 13 |
| 52 | 134 | 215 | |
| 46 | 65 | 72 | |
| Trade Payables | 4 | 24 | 86 |
| 39 | 54 | 41 | |
| Total Liabilities | 153 | 316 | 442 |
| 35 | 112 | 130 | |
| Capital Work in Progress | 10 | 22 | 33 |
| 1 | 17 | 10 | |
| 9 | 23 | 12 | |
| 0 | 42 | 151 | |
| Cash & Bank | 15 | 16 | 9 |
| 83 | 85 | 96 | |
| Total Assets | 153 | 316 | 442 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
| -30 | 18 | 25 | |
| Cash from Investing | -56 | -124 | -60 |
| Cash from Financing | 96 | 111 | 30 |
| 9 | 5 | -5 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - NIBE Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-07 - Letter to Shareholders pursuant to Regulation 36(1)(b) of SEBI (LODR) Regulation, 2015
2026-09-07 - NIBE Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 29, 2026
2026-09-05 - NIBE Limited has informed the Exchange about Copy of Newspaper Publication
2026-09-04 - NIBE Limited has informed the Exchange about Intimation for 21st Annual General Meeting (AGM) scheduled to be held on Tuesday, September 29, 2026.
2026-09-04 - NIBE Limited has informed the Exchange that Record date for the purpose of Dividend is 22-Sep-2026.
2026-08-18 - NIBE Limited has informed the Exchange that Nibe Space Private Limited (Subsidiary Company) has received Letter of Award.
2026-08-15 - NIBE Limited has informed the Exchange about Copy of Newspaper Publication regarding Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2026
2026-08-14 - Nibe Limited has informed about Monitoring Agency Report for June 30, 2026
News
Recent coverage and analyst commentary for NIBE
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NIBE Ltd.
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