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Swing Capital

NESCO Ltd

NSE: NESCO BSE: 505355

NESCO is engaged in the businesses of Licencing premises in IT park buildings and providing related services, licencing premises for exhibitions and providing services to the organisers, manufacturing of machines and capital equipment, and providing hospitality and catering services.(Source : 202003 Annual Report Page No:74)

₹1,238
52W: ₹912 — ₹1639
PE 21.4 · Book ₹397 · +212% vs book
Market Cap₹8,725 Cr
Stock P/E21.4Price to Earnings
ROCE21.1%Return on Capital
ROE15.8%Return on Equity
Div. Yield0.54%Face Value ₹2

Strengths

  • +Company is almost debt free.

Shareholding Pattern

Promoters68.54%
FIIs4.63%
DIIs3.84%
Public22.99%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters68.54%68.54%68.54%68.54%68.54%68.54%68.54%68.54%
FIIs3.87%3.95%▲0.14.91%▲1.04.9%▼0.04.89%▼0.04.89%4.65%▼0.24.63%▼0.0
DIIs3.89%4.06%▲0.23.36%▼0.73.19%▼0.23.06%▼0.13.97%▲0.93.78%▼0.23.84%▲0.1
Public23.7%23.45%▼0.323.18%▼0.323.38%▲0.223.52%▲0.122.6%▼0.923.02%▲0.422.99%▼0.0

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales175178189141192207192193239248
Expenses6664725573818583103122
Operating Profit10911411786120125107110136126
OPM %62%64%62%61%62%61%56%57%57%51%
Net Profit8894105701071108996119105
EPS ₹12.4613.3114.929.915.1715.612.5813.6516.8814.85

AI Insights

Revenue Trend

TTM revenue at ₹872Cr, up 19.1% YoY. OPM at 55%.

Debt Position

Borrowings at ₹110Cr. Debt-to-equity ratio: 0.04x. Healthy balance sheet.

Capex Cycle

CWIP at ₹761Cr (74% of fixed assets). Significant capex underway — growth runway building.

Institutional Flow

DIIs: 3.84% (+0.03pp change). FIIs: 4.63% (+2.54pp change). Promoters hold 68.54%.

Margin & Efficiency

ROCE declining from 25% (Mar 2014) to 21% (Mar 2025). Working capital days: -23.

Valuation

PE 21.4x with 21.1% ROCE. Price is 212% above book value of ₹397. Dividend yield: 0.54%.

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