Nitco Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Tiles and Others Related Products: 89.2% • Real Estate: 10.8%
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 7.8% from -8.6%
- Working capital cycle has improved - days down from 371 to 289
- Company comfortably covers its interest (8.3x coverage)
CONS
- Operating cash flow has been negative in recent years
- Recent results are weak - TTM profit is down 125.9% versus prior year
- Receivables are growing faster than sales - a possible quality concern
- Company has a low return on capital employed of -49.6%
- Promoter holding has decreased over last 2 years: -27.6pp
- Company has a low return on equity of 4.1% over last 3 years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| KAJARIACER | 1240.35 | 35.71 | 19491.24 | 1.13 | 171.03 | 55.04 | 1328.08 | 20.43 | 23.07 | 19.69 |
| CERA | 5690.40 | 29.84 | 7339.22 | 1.32 | 47.05 | -0.86 | 422.19 | 5.36 | 19.41 | 13.05 |
| MIDWESTLTD | 1061.80 | 34.58 | 3839.56 | 0.00 | 310.39 | 1173.13 | 1918.39 | 1248.46 | 27.81 | 25.47 |
| POKARNA | 778.80 | 25.44 | 2414.59 | 0.08 | 42.60 | 50.56 | 189.42 | 10.79 | 11.85 | 35.89 |
| NITCO | 92.50 | 0.00 | 2336.33 | 0.00 | -10.33 | -121.77 | 116.02 | -22.48 | 6.58 | -7.07 |
| SOMANYCERA | 555.05 | 21.40 | 2276.42 | 1.08 | 34.23 | 365.71 | 749.56 | 24.62 | 14.43 | 11.50 |
| ASIANTILES | 50.46 | 118.71 | 1496.01 | 0.00 | 8.07 | 11.48 | 530.95 | 36.76 | 2.97 | 6.19 |
| ORIENTBELL | 418.90 | 29.19 | 616.43 | 0.24 | 8.32 | 2318.40 | 203.82 | 43.44 | 5.56 | 8.02 |
| EXXARO | 6.45 | 70.47 | 288.58 | 0.00 | 2.07 | 156.24 | 85.22 | 31.25 | 3.69 | 8.18 |
| MURUDCERA | 31.76 | 19.86 | 192.29 | 0.00 | 0.81 | -58.06 | 50.09 | 8.54 | 5.23 | 19.10 |
| GSLSU | 27.97 | 12.96 | 118.54 | 0.00 | 0.06 | 111.19 | 65.42 | -12.19 | -2.15 | 12.74 |
| PACIFICI | 141.79 | 35.50 | 97.73 | 0.00 | 1.69 | 82.31 | 63.92 | 28.72 | 1.09 | 4.45 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 91 | 80 | 79 | 71 | 69 | 65 | 84 | 93 | 149 | 106 | 130 | 151 | 1,155 | |
| 97 | 83 | 87 | 93 | 80 | 76 | 90 | 99 | 100 | 121 | 137 | 156 | 1,264 | |
| Operating Profit | -6 | -3 | -9 | -22 | -11 | -11 | -6 | -7 | 49 | -14 | -7 | -6 | -109 |
| OPM % | -6.21% | -3.39% | -11.09% | -30.88% | -16.31% | -16.54% | -7.25% | -7.34% | 33.17% | -13.54% | -5.59% | -3.87% | -9.40% |
| 2 | 2 | 1 | 1 | 1 | 13 | -473 | 10 | 3 | 2 | -2 | 1 | 16 | |
| Interest | 22 | 24 | 24 | 25 | 26 | 27 | 11 | 2 | 1 | 1 | 1 | 2 | 11 |
| Depreciation | 7 | 7 | 7 | 7 | 7 | 7 | 170 | 3 | 3 | -14 | 2 | 2 | 16 |
| Profit before Tax | -32 | -32 | -39 | -53 | -44 | -32 | -659 | -2 | 49 | 2 | -11 | -6 | -93 |
| Tax % | -1.02% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | 0.00% | 0.00% | -0.00% | -0.00% | -0.00% |
| Net Profit | -33 | -32 | -39 | -53 | -44 | -32 | -659 | -2 | 49 | 2 | -11 | -6 | -93 |
| -4.56 | -4.40 | -5.43 | -7.40 | -6.06 | -4.46 | -91.67 | -0.11 | 2.15 | 0.09 | -0.46 | -0.28 | -0.38 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 696 | 599 | 588 | 458 | 325 | 409 | 382 | 323 | 312 | 540 | 502 | |
| 689 | 595 | 587 | 506 | 365 | 448 | 419 | 360 | 509 | 497 | 540 | |
| Operating Profit | 7 | 4 | 2 | -47 | -40 | -39 | -37 | -37 | -197 | 42 | -38 |
| OPM % | 1.02% | 0.67% | 0.30% | -10.28% | -12.18% | -9.54% | -9.77% | -11.53% | -63.16% | 7.84% | -7.63% |
| 1 | 249 | 2 | 41 | 3 | 7 | -11 | 5 | -448 | 5 | 3 | |
| Interest | 3 | 9 | 19 | 23 | 54 | 64 | 73 | 95 | 66 | 5 | 5 |
| Depreciation | 38 | 72 | 31 | 31 | 31 | 30 | 29 | 29 | 25 | 8 | -9 |
| Profit before Tax | -32 | 172 | -47 | -60 | -121 | -126 | -151 | -156 | -736 | 34 | -24 |
| Tax % | -0.00% | -11.82% | -0.00% | -1.36% | -3.10% | -0.00% | -0.00% | -0.21% | -0.00% | 0.00% | -0.00% |
| Net Profit | -32 | 193 | -47 | -61 | -125 | -126 | -151 | -157 | -736 | 34 | -24 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | -17.34 | -17.52 | -21.05 | -21.79 | -32.19 | 1.42 | — |
| 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:
- 33%
- 3 Years:
- 69%
- 1 Year:
- -17%
RETURN ON EQUITY
- 10 Years:
- 303%
- 5 Years:
- 2%
- 3 Years:
- 4%
- Last Year:
- 12%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| 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 |
| -189 | 75 | 28 | -17 | -141 | -267 | -418 | -574 | -21 | 111 | |
| 571 | 814 | 743 | 552 | 458 | 811 | 881 | 201 | 201 | 205 | |
| Trade Payables | 157 | 151 | 189 | 146 | 126 | 142 | 159 | 157 | 93 | 112 |
| 790 | 139 | 222 | 232 | 379 | 82 | 94 | 843 | 282 | 279 | |
| Total Liabilities | 1,384 | 1,251 | 1,253 | 985 | 893 | 841 | 788 | 698 | 783 | 948 |
| 533 | 464 | 443 | 417 | 392 | 363 | 337 | 309 | 84 | 70 | |
| Capital Work in Progress | 2 | 3 | 5 | 4 | 3 | 3 | 2 | 2 | 2 | 10 |
| 27 | 27 | 27 | 7 | 7 | 7 | 7 | 7 | 9 | 9 | |
| 355 | 300 | 299 | 243 | 228 | 214 | 218 | 206 | 327 | 379 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 37 | 64 | 168 | |
| Cash & Bank | 16 | 61 | 58 | 8 | 12 | 12 | 11 | 6 | 90 | 26 |
| 450 | 394 | 421 | 305 | 251 | 243 | 213 | 130 | 206 | 286 | |
| Total Assets | 1,384 | 1,251 | 1,253 | 985 | 893 | 841 | 788 | 698 | 783 | 948 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 16 | 430 | 19 | 10 | 11 | 5 | 3 | -1 | -139 | -154 | |
| Cash from Investing | -9 | -5 | -10 | -4 | -1 | 4 | -0 | -1 | 3 | -15 |
| Cash from Financing | -10 | -428 | -6 | -25 | -6 | -9 | -3 | -3 | 220 | 104 |
| -3 | -3 | 1 | -6 | 4 | -0 | -1 | -4 | 84 | -65 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| 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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