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Swing Capital

Nitco Ltd

NSE: NITCO BSE: 532722

Nitco Ltd (NITCO) is a Diversified company listed on NSE: NITCO | BSE: 532722. With a market cap of ₹2,263 Cr and ROCE of 7.73%, ROE of 11.8%, it operates in the Indian Diversified sector.

₹98.8
52W: ₹64 — ₹164
PE 59.2 · Book ₹16.8 · +488% vs book
Market Cap₹2,263 Cr
Stock P/E59.2Price to Earnings
ROCE7.73%Return on Capital
ROE11.8%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company is expected to give good quarter
  • +Company has delivered good profit growth of 18.2% CAGR over last 5 years

Weaknesses

  • −Stock is trading at 5.65 times its book value
  • −The company has delivered a poor sales growth of 10.7% over past five years.
  • −Promoter holding is low: 20.2%
  • −Company might be capitalizing the interest cost
  • −Promoters have pledged 67.1% of their holding.
  • −Debtor days have increased from 77.1 to 114 days.
  • −Promoter holding has decreased over last 3 years: -32.8%
  • −Working capital days have increased from -69.6 days to 289 days

Shareholding Pattern

Promoters20.17%
FIIs2.3%
DIIs1.54%
Public75.98%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters47.81%46.78%▼1.046.78%16.23%▼30.616.23%16.21%▼0.016.21%20.17%▲4.0
FIIs0.21%0.85%▲0.61.97%▲1.10.41%▼1.62.05%▲1.62.3%▲0.32.18%▼0.12.3%▲0.1
DIIs14.04%8.39%▼5.65.98%▼2.41.88%▼4.12.35%▲0.52.24%▼0.11.68%▼0.61.54%▼0.1
Public37.92%43.96%▲6.045.26%▲1.381.48%▲36.279.35%▼2.179.25%▼0.179.93%▲0.775.98%▼4.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales79.4271.1969.3165.4784.0592.93149.68107.1131.18151.75
Expenses87.4392.7880.3776.0889.7599.3899.65120.56136.98156.33
Operating Profit-8.01-21.59-11.06-10.61-5.7-6.4550.03-13.46-5.8-4.58
OPM %-10.09%-30.33%-15.96%-16.21%-6.78%-6.94%33.42%-12.57%-4.42%-3.02%
Net Profit-39.02-53.15-43.52-32.02-658.73-1.9449.211.99-10.61-6.36
EPS ₹-5.43-7.4-6.06-4.46-91.67-0.082.150.09-0.46-0.28

AI Insights

Revenue Trend

Mar 2026 revenue at ₹540Cr, up 73.1% YoY. OPM at 5%.

Debt Position

Borrowings at ₹250Cr. Debt-to-equity ratio: 1.72x. High leverage — monitor closely.

Capex Cycle

CWIP at ₹10Cr (14% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 1.54% (-21.39pp change). FIIs: 2.3% (+2.30pp change). Promoters hold 20.17%.

Margin & Efficiency

ROCE improving from -6% (Mar 2015) to 8% (Mar 2026). Working capital days: 289.

Valuation

PE 59.2x with 7.73% ROCE. Price is 488% above book value of ₹16.8. Dividend yield: 0%.

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