The shares of the tiles manufacturer gained up to 5 percent from intraday high after the company secured a significant order from Prestige Estates Projects Limited worth Rs 105 crore.
With a market capitalization of Rs 1,026.51 crore, the shares of Nitco Ltd were trading at Rs 142.85 per share, increasing around 2 percent as compared to the previous closing price of Rs 140.55 apiece.
Reason for rise:-
The shares of the company have seen a bullish movement after Nitco Ltd has received a major order from Prestige Estates Projects Limited for the supply of tiles, marble, and mosaic. This order contains Rs. 105.40 crore in orders, and based on existing active projects, the estimated PO till March 2025 is Rs. 104 crore.
Financial performance:-
Examine the company’s financial condition, revenue dipped by 19 percent from Rs 81 crore in Q2FY24 to Rs 66 crore in Q2FY25, and during the same time frame, net loss magnified by 9 percent from Rs 32 crore to Rs 35 crore.
Ratio analysis:-
The company’s critical ratios show that the return on assets decreased from (18.49) percent in FY22-23 to (22.31) percent in FY23-24, while the return on capital employed decreased from 37.86 percent to 20.53 percent. The net profit margin (NPM) for fiscal year 23-24 is (50.11) percent.
Shareholding pattern:-
In the company’s recent shareholding pattern, Promoter and Domestic Institutional Investors own 46.78 percent and 0.02 percent stakes while Retail shareholders own a 43.96 percent stake in the company and foreign Institutional Investors own a 0.85 percent stake.
Company profile:-
NITCO Limited is engaged in the tiles and marble business. The Company operates through two segments: Tiles and related products and Real Estate. The Company offers wall tiles, floor tiles, marble, and mosaico. The Company’s products include Glazed Vitrified Tiles, Vitrified DCH, Vitrified Heavy Duty, etc.
Written by:- Abhishek Singh
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