Nitiraj Engineers Ltd. (NITIRAJ) AI Stock Analysis

• Market Cap: ₹2.03B
• Dividend Yield: 0.78%
• Average Volume (3M): 13.27K
• Price to Earnings (P/E): 191.8
• Beta (1Y): 0.63
• Revenue Growth: -39.35%
• EPS Growth: -78.01%
• Country: IN
• Employees: 321
• Sector: Technology
• Sector Strength: 88
• Industry: Hardware, Equipment & Parts
• EPS (TTM): 7.57
• Shares Outstanding: 10,251,000
• 10 Day Avg. Volume: 2,497
• 30 Day Avg. Volume: 13,270
• PEG Ratio: -2.50
• Price to Book (P/B): 2.51
• Price to Sales (P/S): 4.46
• P/FCF Ratio: -23.20
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: ₹182.00 ▼(-0.06% Downside)
• Action: Reiterated
• Date: 06/11/26

Positive Factors

Strong balance sheet

Near-zero leverage across FY2024–FY2026 gives the company durable financial flexibility and low solvency risk. A large equity base versus assets lets management absorb shocks, fund working-capital needs or selective investment without immediate external financing, supporting resilience over months.

Negative Factors

Cash flow reversal

A swing to materially negative operating and free cash flow signals working-capital stress or heavy investment amid falling sales. This erodes liquidity, forces drawdown of the strong balance sheet if persisting, and could constrain capex, dealer support, or require costly external funding within the next several quarters.

Nitiraj Engineers Ltd. Business Overview & Revenue Model

Company Description

Founded in 1989 and headquartered in Dhule, India, Nitiraj Engineers Limited specializes in the design, manufacturing, and international distribution of electronic measurement and automation products. The company primarily offers an extensive port...

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Founded in 1989 and headquartered in Dhule, India, Nitiraj Engineers Limited specializes in the design, manufacturing, and international distribution of electronic measurement and automation products. The company primarily offers an extensive port...

How the Company Makes Money

The company primarily makes money by selling manufactured weighing and measurement products (such as electronic weighing scales and weighing systems) to business and retail customers through its sales and distribution channels. Revenue is recogniz...

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The company primarily makes money by selling manufactured weighing and measurement products (such as electronic weighing scales and weighing systems) to business and retail customers through its sales and distribution channels. Revenue is recogniz...

Nitiraj Engineers Ltd. Financial Statement Overview

Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	866.14M	464.11M	765.17M	1.00B	460.80M	396.26M
Gross Profit	427.79M	162.25M	293.20M	422.03M	213.36M	143.45M
EBITDA	143.65M	35.36M	103.38M	193.86M	37.00M	-8.27M
Net Income	77.63M	10.61M	48.31M	120.36M	-3.71M	-35.27M
Balance Sheet
Total Assets	940.94M	931.63M	930.04M	905.18M	798.25M	772.26M
Cash, Cash Equivalents and Short-Term Investments	96.22M	113.83M	208.46M	134.57M	8.07M	17.11M
Total Debt	232.00K	233.00K	230.00K	2.33M	31.91M	39.78M
Total Liabilities	99.72M	108.27M	101.94M	108.57M	122.45M	95.27M
Stockholders Equity	841.22M	823.35M	828.11M	796.61M	675.80M	676.99M
Cash Flow
Free Cash Flow	-133.82M	-89.19M	77.92M	154.42M	-1.53M	-38.59M
Operating Cash Flow	-81.48M	-34.17M	140.63M	178.75M	7.08M	14.53M
Investing Cash Flow	87.86M	62.21M	-124.39M	-128.39M	4.98M	-56.91M
Financing Cash Flow	-359.00K	-15.38M	-18.35M	-32.00M	-11.86M	29.55M

Nitiraj Engineers Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 182.11
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NITIRAJ, the sentiment is Positive. The current price of 182.11 is below the 20-day moving average (MA) of 189.43, below the 50-day MA of 199.17, and below the 200-day MA of 196.59, indicating a neutral trend. The MACD of -1.29 indicates Negative momentum. The RSI at 51.02 is Neutral, neither overbought nor oversold. The STOCH value of 67.79 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NITIRAJ.

Nitiraj Engineers Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SYRMA	69 Neutral	₹259.31B	81.07	―	0.20%	27.28%	76.63%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
AVALON	57 Neutral	₹116.97B	103.82	―	―	45.99%	76.41%
CYIENTDLM	57 Neutral	₹37.26B	50.76	―	―	-16.99%	7.58%
PGEL	54 Neutral	₹160.92B	82.02	―	0.08%	8.59%	-34.34%
CENTUM	53 Neutral	₹51.32B	-33.24	―	0.25%	6.93%	-2481.56%
NITIRAJ	47 Neutral	₹2.03B	191.80	―	0.78%	-39.35%	-78.01%

Nitiraj Engineers Ltd. Corporate Events