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Swing Capital

Nitiraj Engineers Ltd

NSE: NITIRAJ

Incorporated in 1989, Nitiraj Engineers Ltd manufactures and sells Electronic Weighing Scales, Currency Counting Machines, Taxi Fare Meters, etc.[1]

₹200
52W: ₹170 — ₹270
PE 125 · Book ₹82.1 · +144% vs book
Market Cap₹205 Cr
Stock P/E125Price to Earnings
ROCE7.96%Return on Capital
ROE5.63%Return on Equity
Div. Yield0.75%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Debtor days have improved from 43.5 to 32.2 days.
  • +Company's working capital requirements have reduced from 122 days to 92.7 days

Weaknesses

  • −Company has a low return on equity of 7.38% over last 3 years.

Shareholding Pattern

Promoters69.07%
FIIs0%
DIIs0%
Public30.93%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters69.07%69.07%69.07%69.07%69.07%69.07%69.07%69.07%
FIIs0%0%0%0.05%▲0.10%▼0.10%0%0%
DIIs0%0%0%0%0%0%0%0%
Public30.93%30.93%30.93%30.88%▼0.130.93%▲0.130.93%30.93%30.93%

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales15.9120.2552.584.2712.5637.0822.6110.5416.3911.31
Expenses13.1516.6842.325.8911.8627.4721.8610.5213.6810.2
Operating Profit2.763.5710.26-1.620.79.610.750.022.711.11
OPM %17.35%17.63%19.51%-37.94%5.57%25.92%3.32%0.19%16.53%9.81%
Net Profit1.612.147.42-1.650.026.51-0.06-0.321.630.39
EPS ₹1.572.097.24-1.610.026.35-0.06-0.311.590.38

AI Insights

Revenue Trend

TTM revenue at ₹60.85Cr, down 20.5% YoY. OPM at 7.54%.

Debt Position

Borrowings at ₹0.02Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 0% (+0.00pp change). FIIs: 0% (+0.00pp change). Promoters hold 69.07%.

Margin & Efficiency

ROCE declining from 23.3% (Mar 2014) to 7.96% (Mar 2025). Working capital days: 92.68.

Valuation

PE 125x with 7.96% ROCE. Price is 144% above book value of ₹82.1. Dividend yield: 0.75%.

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