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Last Updated on: 21 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Fundamental Analysis of Nitin Spinners Ltd

About the Company - Nitin Spinners Ltd

Nitin Spinners Ltd. is a Public Limited Listed company incorporated on 15/10/1992 and has its registered office in the State of Rajasthan, India. Company’s Corporate Identification Number(CIN) is L17111RJ1992PLC006987 and registration number is 006987. Currently Company is involved in the business activities of Preparation and spinning of cotton fiber including blended* cotton. Company’s Total Operating Revenue is Rs. 2692.32 Cr. and Equity Capital is Rs. 56.22 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Textiles - Spinning - Cotton Blended16-17 Km. Stone, Chittor Road, Bhilwara Rajasthan 311025nsl@nitinspinners.com
http://www.nitinspinners.com
Management
NamePosition Held
Mr. R L NolkhaChairman
Mr. Dinesh NolkhaManaging Director
Mr. Nitin NolakhaJoint Managing Director
Mr. Rohit Swadheen MehtaIndependent Director
Dr. R ChattopadhyayIndependent Director
Mrs. Aditi MehtaIndependent Director

Basic Stock Data of Nitin Spinners Ltd

Last Updated: July 20, 2024, 10:47 pm

Market Cap 2,176 Cr.
Current Price 387
High / Low418/225
Stock P/E16.5
Book Value 204
Dividend Yield0.65 %
ROCE11.6 %
ROE12.1 %
Face Value 10.0
PEG Ratio0.41

Data Source: screener.in

Competitors of Nitin Spinners Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Maral Overseas Ltd 286 Cr. 68.8102/44.8 31.70.00 %4.55 %7.17 % 10.0
Super Spinning Mills Ltd 45.6 Cr. 8.3011.7/6.00 13.00.00 %1.63 %8.38 % 1.00
Salona Cotspin Ltd 152 Cr. 289383/24824.8 1520.00 %8.31 %7.96 % 10.0
Lambodhara Textiles Ltd 163 Cr. 157210/12835.4 1070.48 %6.72 %4.24 % 5.00
Lagnam Spintex Ltd 259 Cr. 146163/60.817.8 61.70.34 %9.43 %14.3 % 10.0
Industry Average2,788.12 Cr173.1286.1298.050.27%12.71%8.38%6.79

Nitin Spinners Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales467512554665705769709506537655617737750
Expenses393407425487527602600449477584541655648
Operating Profit741041291771781671095760717682103
OPM %16%20%23%27%25%22%15%11%11%11%12%11%14%
Other Income100-4011101100
Interest161614141314119710151525
Depreciation23222222222222222221232435
Profit before tax36669313814313277273141394343
Tax %35%36%35%36%35%35%14%-6%-1%5%26%26%26%
Net Profit23436087938566293239293232
EPS in Rs4.147.6210.6715.5416.5915.2011.665.185.626.865.145.645.65

Last Updated: July 10, 2024, 8:11 pm

Nitin Spinners Ltd Quarterly Chart

Nitin Spinners Ltd Profit & Loss

Last Updated: July 10, 2024, 8:11 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales4284464886167669331,1451,2411,4361,6222,6902,4042,760
Expenses3833583945166297999901,0621,2661,3652,0392,1072,428
Operating Profit458894100137133155178170257652297332
OPM %11%20%19%16%18%14%14%14%12%16%24%12%12%
Other Income0-1504112322-333
Interest21271723332230295662553866
Depreciation242425284042565581918787104
Profit before tax02152546570719736107506176165
Tax %0%33%33%24%32%18%27%34%33%35%36%6%
Net Profit0143541445752642469326165131
EPS in Rs0.073.097.598.949.6312.519.4311.404.2412.2558.0129.3223.29
Dividend Payout %0%0%10%11%10%10%13%11%14%12%4%9%

Nitin Spinners Ltd Profit & Loss Yearly Chart

Nitin Spinners Ltd Growth

Compounded Sales Growth
10 Years:20%
5 Years:19%
3 Years:21%
TTM:21%
Compounded Profit Growth
10 Years:14%
5 Years:15%
3 Years:24%
TTM:-20%
Stock Price CAGR
10 Years:34%
5 Years:44%
3 Years:30%
1 Year:56%
Return on Equity
10 Years:19%
5 Years:19%
3 Years:23%
Last Year:12%

Last Updated: July 17, 2024, 5:22 pm

Nitin Spinners Ltd Balance Sheet

Last Updated: July 10, 2024, 8:11 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital46464646464656565656565656
Reserves4155861211602183614264385078209731,018
Borrowings2492071763783525684498601,0409626899801,216
Other Liabilities1238466577536393111151260209250
Total Liabilities3473463546106358859291,4361,6451,6761,8242,2182,541
Fixed Assets2282131914173826135705241,1401,0601,0121,0111,588
CWIP302101704468020340156
Investments0000000000000
Other Assets116133142193236272355445506615812867797
Total Assets3473463546106358859291,4361,6451,6761,8242,2182,541

Nitin Spinners Ltd Reserves and Borrowings Chart

Nitin Spinners Ltd Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 898745100546610498155431194163
Cash from Investing Activity -4-39-219-36-241-20-483-217-11-86-433-426
Cash from Financing Activity -84-48176-65188-47382116-144-345239262
Net Cash Flow0-01-01-13-3-00-00

Nitin Spinners Ltd Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days231924191928363937333440
Inventory Days11387909010510399105137100110108
Days Payable7139101113151621201214
Cash Conversion Cycle1299210599113118119127153113132134
Working Capital Days56536458668291899285104110
ROCE %20%23%18%18%13%12%11%6%11%37%12%

Nitin Spinners Ltd Financial Efficiency Indicators Chart

Nitin Spinners Ltd Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters56.17%56.17%56.25%56.25%56.36%56.36%56.40%56.41%56.41%56.41%56.41%56.46%
FIIs1.23%2.70%4.02%4.84%4.26%3.81%3.80%2.40%2.21%1.32%1.09%0.70%
DIIs6.80%4.11%4.26%4.62%5.03%5.57%5.37%6.30%8.47%11.24%13.32%13.74%
Public35.79%37.02%35.47%34.29%34.35%34.26%34.41%34.88%32.92%31.02%29.18%29.11%
No. of Shareholders23,53535,92832,96937,79142,15443,67343,07840,54637,04533,77432,33430,716

Nitin Spinners Ltd Shareholding Pattern Chart

No. of Nitin Spinners Ltd Shareholders

Nitin Spinners Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Quant Small Cap Fund2,730,4990.8797.781,305,1022024-07-20109.22%
Bandhan Small Cap Fund1,384,2051.5449.571,305,1022024-07-206.06%
HSBC Small Cap Fund - Regular Plan1,305,1020.3746.741,305,1022024-07-200%
Mahindra Manulife Small Cap Fund822,4561.1529.451,305,1022024-07-20-36.98%
Mahindra Manulife Multi Cap Fund633,5320.9222.691,305,1022024-07-20-51.46%
Mahindra Manulife Equity Savings Fund97,2150.853.481,305,1022024-07-20-92.55%
Bandhan Core Equity Fund80,8870.092.91,305,1022024-07-20-93.8%
ITI ELSS Tax Saver Fund34,0000.531.221,305,1022024-07-20-97.39%

Nitin Spinners Ltd ROCE Trend

Nitin Spinners Ltd EPS Trend

Nitin Spinners Ltd Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)23.3929.3258.0112.254.24
Diluted EPS (Rs.)23.3929.3258.0112.254.24
Cash EPS (Rs.)44.4744.7673.5628.4418.59
Book Value[Excl.RevalReserv]/Share (Rs.)203.90183.01155.78100.2087.87
Book Value[Incl.RevalReserv]/Share (Rs.)203.90183.01155.78100.2087.87
Dividend / Share (Rs.)2.502.504.001.500.60
Revenue From Operations / Share (Rs.)516.84428.09478.89288.94255.79
PBDIT / Share (Rs.)67.4753.43116.2346.1030.57
PBIT / Share (Rs.)46.4037.99100.6929.9016.22
PBT / Share (Rs.)31.5831.2890.0318.956.34
Net Profit / Share (Rs.)23.3929.3258.0112.254.24
PBDIT Margin (%)13.0512.4824.2715.9511.95
PBIT Margin (%)8.978.8721.0210.346.34
PBT Margin (%)6.107.3018.806.552.47
Net Profit Margin (%)4.526.8412.114.231.65
Return on Networth / Equity (%)11.4716.0137.2312.224.82
Return on Capital Employeed (%)12.5712.6540.0514.007.47
Return On Assets (%)4.847.4317.874.101.44
Long Term Debt / Equity (X)0.700.540.461.001.37
Total Debt / Equity (X)1.170.950.781.501.95
Asset Turnover Ratio (%)1.181.191.540.970.93
Current Ratio (X)1.541.501.831.271.15
Quick Ratio (X)0.650.570.840.520.52
Inventory Turnover Ratio (X)3.573.654.133.143.72
Dividend Payout Ratio (NP) (%)0.008.525.174.8935.57
Dividend Payout Ratio (CP) (%)0.005.584.072.108.10
Earning Retention Ratio (%)0.0091.4894.8395.1164.43
Cash Earning Retention Ratio (%)0.0094.4295.9397.9091.90
Interest Coverage Ratio (X)4.557.9711.814.213.09
Interest Coverage Ratio (Post Tax) (X)2.585.376.982.121.43
Enterprise Value (Cr.)3159.672248.471963.571301.991119.92
EV / Net Operating Revenue (X)1.090.930.720.800.77
EV / EBITDA (X)8.337.493.005.026.51
MarketCap / Net Operating Revenue (X)0.620.520.470.280.10
Retention Ratios (%)0.0091.4794.8295.1064.42
Price / BV (X)1.591.231.460.800.31
Price / Net Operating Revenue (X)0.620.520.470.280.10
EarningsYield0.070.120.250.150.15

Nitin Spinners Ltd Profitability Ratios (%)

Nitin Spinners Ltd Liquidity Ratios

Nitin Spinners Ltd Liquidity Ratios (%)

Nitin Spinners Ltd Interest Coverage Ratios (%)

Nitin Spinners Ltd Valuation Ratios

Fair Value

Fair Value: 409.93

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 5.93% compared to the current price 387

Intrinsic Value: 576.33

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 48.92% compared to the current price 387

Last 5 Year EPS CAGR: 40.59%

*Investments are subject to market risks

Strength and Weakness of Nitin Spinners Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 15.08%, which is a positive sign.
  2. The company has shown consistent growth in sales (283.62 cr) and profit (109.23 cr) over the years.
  1. The stock has a high average Working Capital Days of 79.17, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 119.50, which may not be favorable.
  3. The company has higher borrowings (666.67) compared to reserves (437.92), which may suggest financial risk.

FAQ

What is the latest fair value of Nitin Spinners Ltd?

The latest fair value of Nitin Spinners Ltd is ₹409.93.

What is the Market Cap of Nitin Spinners Ltd?

The Market Cap of Nitin Spinners Ltd is 2,176 Cr..

What is the current Stock Price of Nitin Spinners Ltd as on 21 July 2024?

The current stock price of Nitin Spinners Ltd as on 21 July 2024 is 387.

What is the High / Low of Nitin Spinners Ltd stocks in FY 2024?

In FY 2024, the High / Low of Nitin Spinners Ltd stocks is 418/225.

What is the Stock P/E of Nitin Spinners Ltd?

The Stock P/E of Nitin Spinners Ltd is 16.5.

What is the Book Value of Nitin Spinners Ltd?

The Book Value of Nitin Spinners Ltd is 204.

What is the Dividend Yield of Nitin Spinners Ltd?

The Dividend Yield of Nitin Spinners Ltd is 0.65 %.

What is the ROCE of Nitin Spinners Ltd?

The ROCE of Nitin Spinners Ltd is 11.6 %.

What is the ROE of Nitin Spinners Ltd?

The ROE of Nitin Spinners Ltd is 12.1 %.

What is the Face Value of Nitin Spinners Ltd?

The Face Value of Nitin Spinners Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Nitin Spinners Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE