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Nitco Limited
(NITCO)
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Rating:49Neutral
Price Target:
₹101.00
▼(-2.98% Downside)
Action:Reiterated
Date:06/19/26
The score is held back primarily by very weak cash generation and balance-sheet fragility despite the FY2026 profitability turnaround. Technicals are moderately supportive with price above key moving averages, but valuation is a meaningful headwind due to the high P/E and no dividend yield provided.
Positive Factors
Revenue rebound & return to profitability
A material revenue rebound and restored profitability in FY2026 indicate the business can generate operating earnings again after multi-year losses. This supports longer-term investment in distribution, product development and working capital, improving sustainability of core operations if cash conversion follows.
Negative Factors
Very weak cash generation
Deeply negative operating and free cash flows despite reported profits create a persistent liquidity gap. This undermines the sustainability of earnings, limits ability to fund capex or cycle through inventory, and increases reliance on external financing, raising medium-term funding risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue rebound & return to profitability
A material revenue rebound and restored profitability in FY2026 indicate the business can generate operating earnings again after multi-year losses. This supports longer-term investment in distribution, product development and working capital, improving sustainability of core operations if cash conversion follows.
Read all positive factors
Nitco Limited (NITCO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹25.95B
Dividend YieldN/A
Average Volume (3M)17.96K
Price to Earnings (P/E)86.1
Beta (1Y)1.66
Revenue Growth72.39%
EPS GrowthN/A
CountryIN
Employees513
SectorGeneral
Sector StrengthN/A
IndustryConstruction Materials
Share Statistics
EPS (TTM)1.25
Shares Outstanding240,566,100
10 Day Avg. Volume14,939
30 Day Avg. Volume17,964
Financial Highlights & Ratios
PEG Ratio-0.69
Price to Book (P/B)5.52
Price to Sales (P/S)3.72
P/FCF Ratio-11.77
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Nitco Limited Business Overview & Revenue Model
Company Description
Established in 1953 and headquartered in Mumbai, India, NITCO Limited is a prominent provider of floor and wall tiling solutions, operating both within India and internationally. The company's operations are divided into two primary segments: Tile...
How the Company Makes Money
Nitco Limited primarily makes money by selling surface finishing products to the building and home-improvement market. Its main revenue stream is the sale of tiles (notably ceramic and vitrified tiles) where revenue is recognized from product disp...
Nitco Limited Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
46
Neutral
Cash Flow
18
Very Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 5.42B | 3.13B | 3.25B | 3.80B | 4.11B |
| Gross Profit | 1.07B | 733.93M | -266.60M | 671.26M | 827.75M |
| EBITDA | 493.62M | -4.83B | -388.89M | -486.30M | -318.07M |
| Net Income | 289.01M | -7.41B | -1.63B | -1.51B | -1.26B |
Balance Sheet | |||||
| Total Assets | 10.90B | 9.21B | 7.30B | 8.18B | 8.71B |
| Cash, Cash Equivalents and Short-Term Investments | 323.82M | 926.44M | 73.05M | 118.36M | 124.40M |
| Total Debt | 3.14B | 2.91B | 9.87B | 8.95B | 8.23B |
| Total Liabilities | 7.26B | 6.75B | 12.60B | 11.84B | 10.87B |
| Stockholders Equity | 3.65B | 2.47B | -5.12B | -3.49B | -1.98B |
Cash Flow | |||||
| Free Cash Flow | -1.71B | -1.49B | -92.55M | 22.21M | 47.09M |
| Operating Cash Flow | -1.62B | -1.48B | -87.89M | 25.86M | 47.09M |
| Investing Cash Flow | -95.33M | 40.07M | -4.66M | -3.65M | 37.09M |
| Financing Cash Flow | 1.11B | 2.28B | 53.31M | -34.32M | -86.86M |
Nitco Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹190.73B | 34.96 | ― | 0.99% | 8.32% | 74.12% | |
64 Neutral | ₹20.03B | 24.68 | ― | 0.71% | 4.93% | 35.14% | |
63 Neutral | ₹4.65B | 37.69 | ― | 0.19% | 3.24% | 340.19% | |
59 Neutral | ₹29.01B | 36.07 | ― | 0.06% | -38.54% | -57.02% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
49 Neutral | ₹25.95B | 86.08 | ― | ― | 72.39% | ― | |
47 Neutral | ₹16.24B | 54.68 | ― | ― | 12.77% | -49.32% |
* General Sector Average
IN:NITCO
Nitco Limited
99.05
-23.75
-19.34%
IN:ASIANTILES
Asian Granito India Limited
54.75
-2.46
-4.30%
IN:KAJARIACER
Kajaria Ceramics Limited
1,164.85
-130.15
-10.05%
IN:ORIENTBELL
Orient Bell Limited
313.40
17.64
5.96%
IN:POKARNA
Pokarna Limited
985.70
89.64
10.00%
IN:SOMANYCERA
Somany Ceramics Limited
495.05
-20.02
-3.89%
Nitco Limited Corporate Events
Nitco shareholders clear Kanjurmarg property monetisation deal
Jun 30, 2026
Nitco Limited has secured shareholder approval via postal ballot and remote e-voting to monetize its immovable property at Kanjurmarg in Mumbai through a conveyance deed or agreement with R Siddhatva Developers Private Limited, a step-down subsidi...
Nitco Promoters Report No New Share Encumbrances for FY 2025-26
Jun 3, 2026
Nitco Limited has informed the stock exchanges that it has received a disclosure from its promoter under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 for the financial year ended March 31, 2026. ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.