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Swing Capital

Nahar Spinning Mills Ltd

NSE: NAHARSPING BSE: 500296Textile

Incorporated in 1980, Nahar Spinning Mills Ltd manufactures cotton yarn/blended yarn and hosiery knitwear[1]

₹252
52W: ₹149 — ₹311
PE 40.7 · Book ₹425 · -41% vs book
Market Cap₹909 Cr
Stock P/E40.7Price to Earnings
ROCE3.71%Return on Capital
ROE0.71%Return on Equity
Div. Yield0.39%Face Value ₹5

Strengths

  • +Company has reduced debt.
  • +Stock is trading at 0.60 times its book value

Weaknesses

  • −Company has low interest coverage ratio.
  • −The company has delivered a poor sales growth of 9.54% over past five years.
  • −Company has a low return on equity of 1.78% over last 3 years.
  • −Dividend payout has been low at 9.02% of profits over last 3 years
  • −Debtor days have increased from 53.7 to 68.7 days.

Shareholding Pattern

Promoters67.96%
FIIs0.08%
DIIs0.02%
Public31.93%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters67.07%67.07%67.07%67.42%▲0.467.42%67.42%67.42%67.96%▲0.5
FIIs0.11%0.11%0.12%▲0.00%▼0.10.08%▲0.10.09%▲0.00%▼0.10.08%▲0.1
DIIs0.59%0.74%▲0.20.74%0.59%▼0.20.59%0.59%0.59%0.02%▼0.6
Public32.24%32.09%▼0.132.06%▼0.031.96%▼0.131.9%▼0.131.89%▼0.031.98%▲0.131.93%▼0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales728758815821776812876819779703
Expenses715739775768771774809761753688
Operating Profit1318405353866582615
OPM %2%2%5%6%1%5%8%7%3%2%
Net Profit-18-1507-1712216-5-13
EPS ₹-4.99-4.21-0.11.84-4.840.216.214.42-1.29-3.58

AI Insights

Revenue Trend

TTM revenue at ₹3,177Cr, down 3.3% YoY. OPM at 5%.

Debt Position

Borrowings at ₹760Cr. Debt-to-equity ratio: 0.50x. Moderate leverage.

Capex Cycle

CWIP at ₹11Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 0.02% (-0.54pp change). FIIs: 0.08% (-0.19pp change). Promoters hold 67.96%.

Margin & Efficiency

ROCE declining from 15% (Mar 2014) to 4% (Mar 2025). Working capital days: 70.

Valuation

PE 40.7x with 3.71% ROCE. Price is -41% above book value of ₹425. Dividend yield: 0.39%.

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