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Last Updated on: 04 March, 2024|Author: Getaka | Social: X Twitter Profile

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

Nitin Spinners Ltd. Share Price Update

Share PriceValue
Today₹367.50
Previous Day₹365.00

Basic Stock Data of Nitin Spinners Ltd

Market Cap 2,014 Cr.
Current Price 358
High / Low395/208
Stock P/E15.4
Book Value 191
Dividend Yield0.70 %
ROCE11.9 %
ROE17.2 %
Face Value 10.0

Data Source: screener.in

Competitors of Nitin Spinners Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Super Spinning Mills Ltd 47.1 Cr. 8.5711.7/5.30 14.90.00 %7.08 %15.0 % 1.00
Aananda Lakshmi Spinning Mills Ltd 11.1 Cr. 31.831.8/7.142.07 55.10.00 %33.8 %% 10.0
Nahar Polyfilms Ltd 494 Cr. 201293/18656.5 3270.75 %5.33 %5.08 % 5.00
Vardhman Polytex Ltd 197 Cr. 72.274.0/19.3 1380.00 %33.7 %% 10.0
Patspin India Ltd 42.2 Cr. 13.616.5/8.85 7.850.00 %14.6 %% 10.0
Industry Average158.28 Cr65.4311.71108.570.15%18.90%4.02%7.20

Nitin Spinners Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales427467512554665705769709506537655617737
Expenses371393407425487527602600449477584541655
Operating Profit55741041291771781671095760717682
OPM %13%16%20%23%27%25%22%15%11%11%11%12%11%
Other Income0100-401110110
Interest151616141413141197101515
Depreciation23232222222222222222212324
Profit before tax18366693138143132772731413943
Tax %34%35%36%35%36%35%35%14%-6%-1%5%26%26%
Net Profit12234360879385662932392932
EPS in Rs2.124.147.6210.6715.5416.5915.2011.665.185.626.865.145.64

Nitin Spinners Ltd Quarterly Chart

Nitin Spinners Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales4284464886167669331,1451,2411,4361,6222,6902,4042,547
Expenses3833583945166297999901,0621,2661,3652,0392,1072,257
Operating Profit458894100137133155178170257652297289
OPM %11%20%19%16%18%14%14%14%12%16%24%12%11%
Other Income0-1504112322-333
Interest21271723332230295662553848
Depreciation24242528404256558191878791
Profit before tax02152546570719736107506176154
Tax %-0%33%33%24%32%18%27%34%33%35%36%6%
Net Profit0143541445752642469326165131
EPS in Rs0.073.097.598.949.6312.519.4311.404.2412.2558.0129.3223.26
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:18%
5 Years:16%
3 Years:19%
TTM:9%
Compounded Profit Growth
10 Years:21%
5 Years:26%
3 Years:91%
TTM:-38%
Stock Price CAGR
10 Years:38%
5 Years:35%
3 Years:72%
1 Year:87%
Return on Equity
10 Years:21%
5 Years:21%
3 Years:26%
Last Year:17%

Nitin Spinners Ltd Balance Sheet

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 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 64898745100546610498155431194
Cash from Investing Activity -8-4-39-219-36-241-20-483-217-11-86-433
Cash from Financing Activity -56-84-48176-65188-47382116-144-345239
Net Cash Flow-00-01-01-13-3-00-0

Nitin Spinners Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days162319241919283639373334
Inventory Days9511387909010510399105137100110
Days Payable571391011131516212012
Cash Conversion Cycle1061299210599113118119127153113132
Working Capital Days6456536458668291899285104
ROCE %6%20%23%18%18%13%12%11%6%11%37%12%

Nitin Spinners Ltd Financial Efficiency Indicators Chart

Nitin Spinners Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters56.10%56.17%56.17%56.17%56.25%56.25%56.36%56.36%56.40%56.41%56.41%56.41%
FIIs0.00%0.00%1.23%2.70%4.02%4.84%4.26%3.81%3.80%2.40%2.21%1.32%
DIIs13.77%10.53%6.80%4.11%4.26%4.62%5.03%5.57%5.37%6.30%8.47%11.24%
Public30.14%33.30%35.79%37.02%35.47%34.29%34.35%34.26%34.41%34.88%32.92%31.02%
No. of Shareholders18,39418,30423,53535,92832,96937,79142,15443,67343,07840,54637,04533,774

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)
Quant Small Cap Fund27304990.8797.78
Bandhan Small Cap Fund13842051.5449.57
HSBC Small Cap Fund - Regular Plan13051020.3746.74
Mahindra Manulife Small Cap Fund8224561.1529.45
Mahindra Manulife Multi Cap Fund6335320.9222.69
Mahindra Manulife Equity Savings Fund972150.853.48
Bandhan Core Equity Fund808870.092.9
ITI ELSS Tax Saver Fund340000.531.22

Nitin Spinners Ltd ROCE Trend

Nitin Spinners Ltd EPS Trend

Nitin Spinners Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)29.3258.0112.254.2411.43
Diluted EPS (Rs.)29.3258.0112.254.2411.43
Cash EPS (Rs.)44.7673.5628.4418.5921.12
Book Value[Excl.RevalReserv]/Share (Rs.)183.01155.78100.2087.8785.83
Book Value[Incl.RevalReserv]/Share (Rs.)183.01155.78100.2087.8785.83
Dividend / Share (Rs.)2.504.001.500.601.25
Revenue From Operations / Share (Rs.)428.09478.89288.94255.79221.01
PBDIT / Share (Rs.)53.43116.2346.1030.5732.17
PBIT / Share (Rs.)37.99100.6929.9016.2222.45
PBT / Share (Rs.)31.2890.0318.956.3417.31
Net Profit / Share (Rs.)29.3258.0112.254.2411.40
PBDIT Margin (%)12.4824.2715.9511.9514.55
PBIT Margin (%)8.8721.0210.346.3410.15
PBT Margin (%)7.3018.806.552.477.83
Net Profit Margin (%)6.8412.114.231.655.15
Return on Networth / Equity (%)16.0137.2312.224.8213.28
Return on Capital Employeed (%)12.6540.0514.007.4711.04
Return On Assets (%)7.4317.874.101.444.46
Long Term Debt / Equity (X)0.540.461.001.371.28
Total Debt / Equity (X)0.950.781.501.951.67
Asset Turnover Ratio (%)1.191.540.970.931.05
Current Ratio (X)1.501.831.271.151.43
Quick Ratio (X)0.570.840.520.520.65
Inventory Turnover Ratio (X)3.654.133.143.723.64
Dividend Payout Ratio (NP) (%)8.525.174.8935.5712.68
Dividend Payout Ratio (CP) (%)5.584.072.108.106.84
Earning Retention Ratio (%)91.4894.8395.1164.4387.32
Cash Earning Retention Ratio (%)94.4295.9397.9091.9093.16
Interest Coverage Ratio (X)7.9711.814.213.096.26
Interest Coverage Ratio (Post Tax) (X)5.376.982.121.433.22
Enterprise Value (Cr.)2248.471963.571301.991119.921309.93
EV / Net Operating Revenue (X)0.930.720.800.771.05
EV / EBITDA (X)7.493.005.026.517.24
MarketCap / Net Operating Revenue (X)0.520.470.280.100.40
Retention Ratios (%)91.4794.8295.1064.4287.31
Price / BV (X)1.231.460.800.311.05
Price / Net Operating Revenue (X)0.520.470.280.100.40
EarningsYield0.120.250.150.150.12

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 of Nitin Spinners Ltd Stock

Fair Value: ₹509.46

The stock is undervalued by 42.31% compared to the current price ₹358

*Investments are subject to market risks

Strength and Weakness of Nitin Spinners Ltd Stock

StrengthWeakness
  1. The stock has a high average ROCE of 15.58%, which is a positive sign.
  2. The company has shown consistent growth in sales (283.62 cr) and profit (108.38 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 55.70 and average Dividend Yield of 11.34%.
  2. The stock has a high average Working Capital Days of 75.33, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 117.17, which may not be favorable.
  4. The company has higher borrowings (625.08) compared to reserves (401.85), which may suggest financial risk.

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