Nitco Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Tiles and Others Related Products: 88.8% • Real Estate: 11.2%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Operating margins have improved to 7.6% from -8.5%
- Working capital cycle has improved - days down from 380 to 299
CONS
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 132.7% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of -48.2%
- Promoter holding has decreased over last 2 years: -27.6pp
- A large part of profit comes from other income (42.8% of PBT)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| KAJARIACER | 1225.80 | 35.29 | 19262.60 | 1.14 | 171.03 | 55.04 | 1328.08 | 20.43 | 23.07 | 19.69 |
| CERA | 5571.05 | 29.21 | 7185.28 | 1.35 | 47.05 | -0.86 | 422.19 | 5.36 | 19.41 | 13.05 |
| MIDWESTLTD | 1015.80 | 33.08 | 3673.22 | 0.00 | 310.39 | 1173.13 | 1918.39 | 1248.46 | 27.81 | 25.47 |
| POKARNA | 807.75 | 26.39 | 2504.35 | 0.07 | 42.60 | 50.56 | 189.42 | 10.79 | 11.85 | 35.89 |
| NITCO | 93.59 | 0.00 | 2363.86 | 0.00 | -10.33 | -121.77 | 116.02 | -22.48 | 6.58 | -7.07 |
| SOMANYCERA | 564.05 | 21.75 | 2313.33 | 1.06 | 34.23 | 365.71 | 749.56 | 24.62 | 14.43 | 11.50 |
| ASIANTILES | 50.40 | 118.57 | 1494.24 | 0.00 | 8.07 | 11.48 | 530.95 | 36.76 | 2.97 | 6.19 |
| ORIENTBELL | 401.90 | 28.00 | 591.41 | 0.25 | 8.32 | 2318.40 | 203.82 | 43.44 | 5.56 | 8.02 |
| EXXARO | 6.36 | 69.49 | 284.55 | 0.00 | 2.07 | 156.24 | 85.22 | 31.25 | 3.69 | 8.18 |
| MURUDCERA | 29.76 | 18.61 | 180.18 | 0.00 | 0.81 | -58.06 | 50.09 | 8.54 | 5.23 | 19.10 |
| GSLSU | 28.45 | 13.18 | 120.58 | 0.00 | 0.06 | 111.19 | 65.42 | -12.19 | -2.15 | 12.74 |
| PACIFICI | 140.00 | 35.05 | 96.50 | 0.00 | 1.69 | 82.31 | 63.92 | 28.72 | 1.09 | 4.45 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 92 | 80 | 80 | 71 | 70 | 66 | 84 | 93 | 150 | 107 | 130 | 151 | 1,160 | |
| 97 | 83 | 95 | 93 | 81 | 79 | 90 | 100 | 101 | 121 | 138 | 157 | 1,288 | |
| Operating Profit | -6 | -3 | -15 | -22 | -11 | -13 | -5 | -6 | 49 | -15 | -7 | -6 | -128 |
| OPM % | -6.17% | -3.39% | -18.62% | -30.64% | -16.31% | -19.67% | -6.41% | -6.96% | 32.78% | -13.69% | -5.73% | -4.08% | -11.05% |
| 2 | 2 | 1 | 1 | 1 | 13 | -473 | 10 | 3 | 4 | -1 | 2 | 25 | |
| Interest | 22 | 24 | 24 | 25 | 27 | 27 | 13 | 3 | 3 | 2 | 2 | 3 | 25 |
| Depreciation | 7 | 7 | 7 | 7 | 7 | 7 | 170 | 4 | 3 | -14 | 2 | 2 | 21 |
| Profit before Tax | -32 | -32 | -45 | -53 | -44 | -35 | -660 | -3 | 47 | 1 | -12 | -8 | -103 |
| Tax % | -1.02% | -0.00% | -0.00% | 0.11% | -0.00% | -0.00% | -0.00% | -0.34% | 0.00% | 0.00% | -0.00% | -0.39% | -0.02% |
| Net Profit | 0 | 0 | 0 | 0 | -44 | -35 | -660 | -3 | 47 | 1 | -12 | -8 | -103 |
| -4.56 | -4.40 | -6.28 | -6.28 | -6.06 | -4.82 | -91.87 | -0.16 | 2.07 | 0.04 | -0.52 | -0.34 | -0.43 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 716 | 610 | 595 | 460 | 327 | 411 | 384 | 325 | 314 | 542 | 504 | |
| 692 | 606 | 596 | 557 | 376 | 450 | 421 | 368 | 512 | 501 | 545 | |
| Operating Profit | 24 | 4 | -2 | -97 | -49 | -39 | -37 | -43 | -198 | 41 | -41 |
| OPM % | 3.32% | 0.59% | -0.29% | -20.98% | -14.89% | -9.57% | -9.73% | -13.18% | -62.92% | 7.58% | -8.15% |
| 2 | 253 | 2 | 79 | 3 | 7 | -11 | 5 | -448 | 8 | 7 | |
| Interest | 8 | 14 | 22 | 23 | 54 | 64 | 73 | 96 | 70 | 10 | 10 |
| Depreciation | 50 | 81 | 39 | 31 | 31 | 30 | 29 | 29 | 25 | 10 | -7 |
| Profit before Tax | -32 | 162 | -61 | -71 | -130 | -126 | -151 | -163 | -741 | 29 | -29 |
| Tax % | -3.66% | -14.16% | 2.14% | -1.74% | -7.72% | -0.00% | -0.01% | -0.17% | -0.00% | 0.09% | -0.11% |
| Net Profit | -34 | 185 | -60 | -72 | -140 | -126 | -151 | -163 | -741 | 29 | -29 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -18.97 | -17.55 | -21.05 | -22.68 | -32.40 | 1.20 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- -4%
- 5 Years:
- 11%
- 3 Years:
- 12%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- 5%
- 5 Years:
- 32%
- 3 Years:
- 73%
- 1 Year:
- -18%
RETURN ON EQUITY
- 10 Years:
- 188%
- 5 Years:
- 2%
- 3 Years:
- 4%
- Last Year:
- 11%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 55 | 72 | 72 | 72 | 72 | 72 | 72 | 72 | 229 | 241 |
| Minority Interest | 21 | 17 | 11 | -14 | -17 | -17 | -17 | -17 | -0 | -0 |
| -184 | 76 | 22 | -8 | -144 | -270 | -421 | -584 | -36 | 91 | |
| 600 | 835 | 764 | 574 | 458 | 811 | 881 | 201 | 277 | 286 | |
| Trade Payables | 166 | 166 | 207 | 166 | 126 | 143 | 159 | 158 | 93 | 113 |
| 828 | 182 | 231 | 239 | 429 | 132 | 144 | 901 | 358 | 361 | |
| Total Liabilities | 1,485 | 1,348 | 1,308 | 1,028 | 923 | 871 | 818 | 730 | 921 | 1,090 |
| 624 | 548 | 518 | 458 | 396 | 368 | 341 | 314 | 137 | 120 | |
| Capital Work in Progress | 3 | 4 | 6 | 5 | 5 | 4 | 4 | 4 | 4 | 11 |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | |
| 500 | 359 | 344 | 281 | 266 | 251 | 255 | 243 | 373 | 429 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 37 | 64 | 168 | |
| Cash & Bank | 21 | 67 | 60 | 11 | 13 | 12 | 11 | 7 | 91 | 31 |
| 338 | 369 | 379 | 274 | 243 | 236 | 206 | 125 | 250 | 329 | |
| Total Assets | 1,485 | 1,348 | 1,308 | 1,028 | 923 | 871 | 818 | 730 | 921 | 1,090 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 30 | 393 | 24 | 23 | 12 | 5 | 3 | -9 | -148 | -153 | |
| Cash from Investing | -10 | -6 | -11 | -4 | -2 | 4 | -0 | -0 | 4 | -10 |
| Cash from Financing | -25 | -367 | -16 | -36 | -8 | -9 | -3 | 5 | 228 | 102 |
| -4 | -3 | -2 | -5 | 2 | -0 | -1 | -4 | 84 | -60 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-02 - Nitco Limited has informed the Exchange about Credit Rating
2026-08-26 - Nitco Limited has informed the Exchange regarding a press release dated August 26, 2026, titled "NITCO forms JV with House of Abhinandan Lodha for Rs 4,500-crore Alibaug project".
2026-08-25 - Nitco Limited has informed the Exchange about Newspaper advertisement regarding notice of 60th Annual General Meeting and e-Voting information
2026-08-25 - Nitco Limited has informed the Exchange regarding a press release dated August 25, 2026, made by The House of Abhinandan Lodha Estate Holdings Pvt Ltd.".
2026-08-24 - Nitco Limited has informed the Exchange about Execution of Memorandum of Understanding ( MOU ) with M/s HOABL Impactum Land Private Limited
2026-08-24 - Nitco Limited has informed the Exchange regarding 'Intimation of receipt of capital advance from M/s. Soumya Buildcon Private Limited'.
2026-08-24 - Nitco Limited has informed the Exchange about General Updates
2026-08-24 - Nitco Limited has informed the Exchange about Dispatch of Letter to Shareholders Whose E-Mail Addresses Are Not Registered with The Company/RTA/ Depository Participants
2026-08-24 - Nitco Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 17, 2026
News
Recent coverage and analyst commentary for NITCO
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