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Swing Capital

Nandan Denim Ltd

NSE: NDL BSE: 532641Textile

Incorporated in 1994, Nandan Denim Ltd manufactures Denim, Shirting materials, Yarn and various types of fabrics[1]

₹2.61
52W: ₹1.8 — ₹4.42
PE 11 · Book ₹4.44 · -41% vs book
Market Cap₹376 Cr
Stock P/E11Price to Earnings
ROCE9.27%Return on Capital
ROE5.56%Return on Equity
Div. Yield0%Face Value ₹1

Strengths

  • +Company has reduced debt.
  • +Stock is trading at 0.57 times its book value

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has a low return on equity of 4.51% over last 3 years.
  • −Promoter holding has decreased over last 3 years: -13.9%

Shareholding Pattern

Promoters51.01%
FIIs0.68%
DIIs1.31%
Public46.99%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters58.46%51.01%▼7.551.01%51.01%51.01%51.01%51.01%51.01%
FIIs0.6%0.57%▼0.00.58%▲0.00.58%1.4%▲0.80.68%▼0.70.68%0.68%
DIIs0.07%1.48%▲1.41.48%1.25%▼0.21.25%1.31%▲0.11.31%1.31%
Public40.87%46.92%▲6.146.91%▼0.047.14%▲0.246.33%▼0.846.98%▲0.646.99%▲0.046.99%

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales414.42462.18579.12721.62850.25926.1510,48,.6510,47,.68784.69499.53
Expenses387.75429.85540.13689.38817.7897.1310,14,.2710,15,.27761.26478.49
Operating Profit26.6732.3338.9932.2432.5529.0234.3832.4123.4321.04
OPM %6.44%7%6.73%4.47%3.83%3.13%3.28%3.09%2.99%4.21%
Net Profit8.27.9627.117.498.786.5810.6111.29.452.97
EPS ₹0.060.060.190.050.060.050.070.080.070.02

AI Insights

Revenue Trend

TTM revenue at ₹3,381Cr, down 4.7% YoY. OPM at 3%.

Debt Position

Borrowings at ₹221Cr. Debt-to-equity ratio: 0.45x. Healthy balance sheet.

Capex Cycle

CWIP at ₹1Cr (0% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 1.31% (+1.31pp change). FIIs: 0.68% (+0.12pp change). Promoters hold 51.01%.

Margin & Efficiency

ROCE declining from 14% (Mar 2014) to 9% (Mar 2025). Working capital days: 24.

Valuation

PE 11x with 9.27% ROCE. Price is -41% above book value of ₹4.44. Dividend yield: 0%.

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