---
title: "Niraj Ispat Industries Ltd (NIRAJISPAT) — Share Price, Financials & Analysis"
symbol: "NIRAJISPAT"
company: "Niraj Ispat Industries Ltd"
canonical: "https://tapetide.com/stocks/NIRAJISPAT"
isin: "INE326T01011"
nse_symbol: "NIRAJISPAT"
sector: "Consumer Goods"
industry: "Plastic Products"
market_cap_cr: 18.01
generated_at: "2026-09-13T19:32:15.879Z"
---

# Niraj Ispat Industries Ltd (NIRAJISPAT)

Canonical page: https://tapetide.com/stocks/NIRAJISPAT

## Company

- **NSE Symbol:** NIRAJISPAT
- **ISIN:** INE326T01011
- **Sector:** Consumer Goods
- **Industry:** Plastic Products
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2016-10-27
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** nirajispat.in

## About

Incorporated in 1985, Niraj Ispat Industries Ltd 
 is in the business of manufacturing of Polyester Buttons[1]

## Latest Price

- **Price:** ₹300.3
- **Change:** -15.65 (-4.95%)
- **Open:** ₹301
- **Day High:** ₹301
- **Day Low:** ₹300.2
- **Previous Close:** ₹315.95
- **Volume:** 1868
- **As Of:** 2026-09-11T10:01:40+00:00

## Key Fundamentals

Observed at 2026-09-11T04:40:34.131693Z.

- **Market Cap:** ₹18.01 Cr
- **Classification:** Microcap
- **P/E (reported):** 12.5
- **P/E (TTM):** 11.85
- **EPS (TTM):** ₹25.34
- **Book Value:** ₹265.5
- **Price to Book:** 1.19
- **Dividend Yield:** 0%
- **ROE:** 9.34%
- **ROCE:** 9.64%
- **Debt to Equity:** 0.29
- **Revenue (yearly):** ₹3.62 Cr
- **Net Income:** ₹1.61 Cr
- **EBITDA:** ₹0.91 Cr
- **52-Week High:** ₹429.65
- **52-Week Low:** ₹155
- **RSI (14):** 55.71

## Tapetide Score

- **Score:** 51 / 100
- **Score date:** 2026-09-04
- **Archetype:** Trend Ahead of Fundamentals
- **What it means:** The price trend is running ahead of what the financials currently support. Moves like this depend on the fundamentals catching up; check what would have to be true for that.
- **Pillar profile:** Quality: Weak · Valuation: Expensive · Momentum: Rising
- **Percentile:** 52 (of 4473 scored stocks)
- **Confidence:** 98%
- **Data coverage:** 95%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 70.4 | 9% |
| growth | 35.76 | 9% |
| momentum | 98.9 | 12% |
| ownership | 50 | 24% |
| quality | 47.95 | 22% |
| valuation | 49 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 1.13 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of 0.33% over past five years.
- Company has a low return on equity of 9.12% over last 3 years.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.1.50 Cr.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | -368.18% | -464.38% | — |
| ebitda margin growth | -33.33% | -56.37% | -42.85% | -22.83% |
| net income growth | -25% | 23.85% | -1% | 36% |
| revenue growth | 0% | -24.58% | -13% | 0% |
| roce | — | 25.19% | -41.26% | 9.31% |
| roe | — | 49.44% | 9.77% | 162.36% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 0.96 | 0.66 | 0.67 | 0.9 | 1.03 | 0.79 | 1 | 0.95 | 0.98 | 0.79 | 0.89 | 0.89 |
| Expenses | 0.79 | 0.53 | 0.64 | 0.72 | 0.79 | 0.6 | 0.73 | 0.72 | 0.71 | 0.58 | 0.69 | 0.84 |
| Operating Profit | 0.17 | 0.13 | 0.03 | 0.18 | 0.24 | 0.19 | 0.27 | 0.23 | 0.27 | 0.21 | 0.2 | 0.05 |
| OPM % | 17.71 | 19.7 | 4.48 | 20 | 23.3 | 24.05 | 27 | 24.21 | 27.55 | 26.58 | 22.47 | 5.62 |
| Other Income | 0.2 | 0.2 | 0.22 | 0.23 | 0.28 | 0.28 | 0.28 | 0.35 | 0.36 | 0.37 | 0.38 | 0.39 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.01 | 0 | 0.01 | 0.01 | 0.01 |
| Depreciation | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 |
| Profit before tax | 0.33 | 0.29 | 0.21 | 0.37 | 0.48 | 0.43 | 0.51 | 0.53 | 0.59 | 0.53 | 0.53 | 0.39 |
| Tax % | 30.3 | 27.59 | 28.57 | 27.03 | 25 | 6.98 | 41.18 | 26.42 | 27.12 | 26.42 | 28.3 | 25.64 |
| Net Profit | 0.23 | 0.22 | 0.16 | 0.28 | 0.35 | 0.41 | 0.3 | 0.4 | 0.43 | 0.4 | 0.39 | 0.3 |
| EPS in Rs | 3.83 | 3.67 | 2.67 | 4.67 | 5.83 | 6.83 | 5 | 6.67 | 7.17 | 6.67 | 6.5 | 5 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 6.52 | 5.96 | 5 | 3.56 | 4.87 | 5.57 | 3.26 | 3.72 | 3.62 | 3.55 |
| Expenses | 5.32 | 5.04 | 4.38 | 3.26 | 4.09 | 3.86 | 2.79 | 2.82 | 2.71 | 2.82 |
| Operating Profit | 1.2 | 0.92 | 0.62 | 0.3 | 0.78 | 1.71 | 0.47 | 0.9 | 0.91 | 0.73 |
| OPM % | 18.4 | 15.44 | 12.4 | 8.43 | 16.02 | 30.7 | 14.42 | 24.19 | 25.14 | 20.56 |
| Other Income | 0.62 | 0.48 | 0.6 | 0.49 | 0.46 | 0.7 | 0.81 | 1.06 | 1.46 | 1.5 |
| Interest | 0.24 | 0.25 | 0.14 | 0.05 | 0.06 | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 |
| Depreciation | 0.31 | 0.3 | 0.3 | 0.29 | 0.17 | 0.17 | 0.17 | 0.17 | 0.15 | 0.16 |
| Profit before tax | 1.27 | 0.85 | 0.78 | 0.45 | 1.01 | 2.23 | 1.1 | 1.78 | 2.2 | 2.04 |
| Tax % | 24.41 | 22.35 | 30.77 | 24.44 | 25.74 | 25.11 | 27.27 | 24.72 | 26.36 | — |
| Net Profit | 0.96 | 0.66 | 0.52 | 0.35 | 0.75 | 1.67 | 0.81 | 1.34 | 1.62 | 1.52 |
| EPS in Rs | 16 | 11 | 8.67 | 5.83 | 12.5 | 27.83 | 13.5 | 22.33 | 27 | 25.34 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 |
| Reserves | 6.65 | 7.61 | 8.27 | 8.79 | 9.14 | 9.89 | 11.56 | 12.37 | 13.71 | 15.33 |
| Borrowings | 6.07 | 6.5 | 6.31 | 3.47 | 3.07 | 1.37 | 1.38 | 1.45 | 4.56 | 4.56 |
| Other Liabilities | 2.56 | 1.77 | 1.12 | 1.24 | 1.36 | 2.2 | 1.35 | 1.01 | 1.23 | 1.18 |
| Total Liabilities | 15.88 | 16.48 | 16.3 | 14.1 | 14.17 | 14.06 | 14.89 | 15.43 | 20.1 | 21.67 |
| Fixed Assets | 2.85 | 2.54 | 2.36 | 2.05 | 1.8 | 1.65 | 1.48 | 1.3 | 1.16 | 1.03 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0.23 | 0.23 | 0.23 | 0.23 | 0.23 | 0.23 | 0.24 | 0.25 | 0.26 | 0.26 |
| Other Assets | 12.8 | 13.71 | 13.71 | 11.82 | 12.14 | 12.18 | 13.17 | 13.88 | 18.68 | 20.38 |
| Total Assets | 15.88 | 16.48 | 16.3 | 14.1 | 14.17 | 14.06 | 14.89 | 15.43 | 20.1 | 21.67 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 1.01 | -0.53 | 0.1 | 2.33 | 0.06 | 1.23 | -0.73 | -0.88 | -4.12 | -1.41 |
| Cash from Investing Activity | 0 | 0.44 | 0.36 | 0.6 | 0.45 | 0.44 | 0.69 | 0.82 | 1.03 | 1.43 |
| Cash from Financing Activity | -1.38 | 0.18 | -0.44 | -2.97 | -0.45 | -1.76 | 0 | 0.05 | 3.08 | -0.03 |
| Net Cash Flow | -0.37 | 0.09 | 0.02 | -0.05 | 0.05 | -0.09 | -0.05 | 0 | -0.02 | -0.02 |
| Free Cash Flow | 0.51 | -0.53 | -0.02 | 2.34 | 0.02 | 1.21 | -0.73 | -0.87 | -4.15 | -1.44 |
| CFO/OP | 90 | -14 | 34 | 411 | 67 | 191 | -10 | -126 | -407 | -91 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 29.51 | 45.9 | 60.02 | 44.53 | 69.72 | 62.21 | 48.49 | 43.67 | 57.89 | 64.53 |
| Inventory Days | 34.9 | 23.55 | 11.03 | 34.09 | 43.37 | 31.25 | 30.42 | 59.77 | 54.15 | 73 |
| Days Payable | 149.96 | 98.12 | 56.24 | 98 | 159.01 | 201.25 | 128.28 | 157.95 | 172.47 | 197.53 |
| Cash Conversion Cycle | -85.55 | -28.66 | 14.81 | -19.38 | -45.92 | -107.79 | -49.37 | -54.52 | -60.43 | -60 |
| Working Capital Days | 518.25 | 668.98 | 769.81 | 774.53 | 1100.13 | 750.24 | 774.56 | 1433.13 | 1672.92 | 1905.66 |
| ROCE % | 14.84 | 10.77 | 7.36 | 6.56 | 3.9 | 8.67 | 17.64 | 8.01 | 10.75 | 11.28 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 74.58% | 74.58% | 74.58% | 74.58% | 74.43% | 74.43% | 74.42% | 74.42% | 74.44% | 74.44% | 74.44% | 74.44% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 23.1% | 23.1% | 23.11% | 25.25% | 25.4% | 25.41% | 25.41% | 25.41% | 25.38% | 25.38% | 25.13% | 25.2% |
| Others | 2.31% | 2.31% | 2.31% | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | 0.18% | 0.18% | 0.44% | 0.37% |
| No. of Shareholders | 514 | 514 | 515 | 515 | 519 | 525 | 528 | 557 | 668 | 668 | 853 | 882 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 11 / 4 / 4

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 363.86 | Sell |
| EMA (10) | 330.55 | Sell |
| SMA (20) | 295.16 | Buy |
| EMA (20) | 306.02 | Sell |
| SMA (50) | 238.95 | Buy |
| EMA (50) | 262.87 | Buy |
| SMA (100) | 229.13 | Buy |
| EMA (100) | 245.37 | Buy |
| SMA (200) | 228.37 | Buy |
| EMA (200) | 257.58 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 52.08 | Neutral |
| MACD (12,26,9) | 33.46 | Sell |
| Stochastic (14,3,3) | 47.86 | Neutral |
| ADX (14) | 27.4 | Buy |
| Williams %R (14) | -60.54 | Neutral |
| ATR (14) | 20.04 | High Volatility |
| ROC (12) | 39.03 | Buy |
| Stoch RSI (14) | 0 | Buy |
| UO (7,14,28) | 26.61 | Buy |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-03 | [Price movement](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_03092026151408_Price_Movement_Niraj_Ispat03092026.pdf) |
| 2026-08-22 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_22082026132351_NIRAJISPAT_Scrutinizer_Report.pdf) |
| 2026-08-20 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_20082026153959_Proceeding_of_AGM.pdf) |
| 2026-08-14 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_14082026142459_NIRAJ-Newspaper_Advt_under_Reg_47.pdf) |
| 2026-07-29 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_29072026154015_Newspaper_Advertisement.pdf) |
| 2026-07-27 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_27072026163421_Intimation_of_AGM_Notice.pdf) |
| 2026-07-25 | [Change in Management](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_25072026132645_Intimation_for_Appointment_of_Internal_Auditor.pdf) |
| 2026-07-17 | [Quarterly Compliance Report on Corporate governance - within 21 days from the end of the quarter](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_17072026133313_NirajNonapplicabilityofCorporateGovernanceJune2026.pdf) |
| 2026-07-04 | [Certificate under SEBI (Depositories and Participants) Regulations, 2018](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_04072026121746_74_5__NIRAJJUNE2026.pdf) |
| 2026-06-25 | [Reply to Clarification- Financial results](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_20062026154414_Niraj-clarification.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 31 Aug - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written … | [Price movement 31 Aug - Investors have latest relevant information about the company and to inform the market place so that the interest of the investors is safeguarded, has written …](https://www.nseindia.com/get-quotes/equity?symbol=NIRAJISPAT) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-12 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_12082026154403_NIRAJ_Outcome_of_BM_and_Finacial_Results_30062026.pdf) |
| 2026-07-25 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_25072026131906_Outcome_of_BM_.pdf) |
| 2026-05-25 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_25052026175444_Outcome_of_Board_Meeting.pdf) |
| 2026-02-11 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_11022026144207_Nirajoutcomeofboardmeeting_31122025.pdf) |
| 2025-11-13 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/NIRAJISPAT_13112025125834_NirajOutcomeofBoardMeetingSeptember2025.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/AR_30016_NIRAJISPAT_2025_2026_A_2268587_27072026164922.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/AR_28305_NIRAJISPAT_2024_2025_A_5432209_03092025175047.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/AR_24941_NIRAJISPAT_2023_2024_1408202415579.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/AR_23739_NIRAJISPAT_2022_2023_07092023150757_09072023160017.zip) |
| from nse | [Annual Report 2022 from nse](https://archives.nseindia.com/annual_reports/AR_20908_NIRAJISPAT_2021_2022_27082022171605_08272022180004.zip) |
| from nse | [Annual Report 2021 from nse](https://archives.nseindia.com/annual_reports/AR_19772_NIRAJISPAT_2020_2021_09092021002518_09092021070012.zip) |
| from nse | [Annual Report 2020 from nse](https://archives.nseindia.com/annual_reports/AR_17676_NIRAJISPAT_2019_2020_09092020025637_09092020070005.zip) |
| from nse | [Annual Report 2019 from nse](https://archives.nseindia.com/annual_reports/AR_15756_NIRAJISPAT_2018_2019_04092019183858_04092019190018.zip) |
| from nse | [Annual Report 2018 from nse](https://archives.nseindia.com/annual_reports/AR_14078_NIRAJISPAT_2017_2018_05102018113749.zip) |
| from nse | [Annual Report 2017 from nse](https://archives.nseindia.com/annual_reports/AR_11271_NIRAJISPAT_2016_2017_02092017180438.zip) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:32:15.879Z.