This Mumbai-based flooring solutions company is in focus after it received an order worth Rs. 111 Crore, which was more than the anticipated Order value. Following the order receipt, the shares jumped close to 4 percent.
With a market capitalization of Rs. 3,021 Crore, the stock of Nitco opened at Rs. 133.35, up 2.81 percent from yesterday’s close, and after opening, it made a high of Rs. 134.80, up 3.93 percent. Additionally, the Yearly return for the stock is 87 percent, and the past 5-year return is an impressive 682 percent.
Order Update
The company has received an Order worth Rs. 111 Crores, which was earlier anticipated to be Rs. 104 Crores. The order has been received from Prestige Estates Projects Limited, as part of the ongoing project for Tiles and Marbles. The time period in which the order has to be completed is approximately 6 months.
About the Company
Established in 1953 and headquartered in Mumbai, Nitco Limited is an Indian company primarily engaged in the business of manufacturing and selling tiles, marble, and other flooring solutions
The company caters to residential, commercial, and institutional projects, supplying products for flooring, wall cladding, and interior decor. Nitco has built a strong brand in the premium segment of ceramic and vitrified tiles, natural marble, and mosaics.
The company reported a 6.25 percent YoY increase in revenue from Rs. 80 Crore in Q3FY24 to Rs. 85 Crore in Q3FY25. On a QoQ basis, the company reported an increase of 28.78 percent in revenue from Rs. 66 Crore in the previous quarter.
Their Net loss saw an increase YoY from Rs. 45 Crore to Rs. 660 Crore for the same period. On a QoQ basis, the company reported a huge increase in Net loss from Rs. 35 Crore in the previous quarter.
Written By Abhishek Das
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