Nitin Spinners Ltd logo

Nitin Spinners Ltd

NITINSPIN NSE

Key Fundamentals

MicrocapCotton/BlendedTextiles
Market Cap
₹3,235 Cr
Volatility
Moderate
P/E Ratio
15.32
EBITDA
₹453 Cr
Return on Equity
13.38%
Debt to Equity
0.76
Book Value
₹261.6
EPS
₹25.74
52W High
₹590
52W Low
₹302.2

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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52 extracted metrics + investor summaries across FY13–FY26.

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Tapetide Score

Data-driven rating, 0–100. How it works →

Technical Indicators

Key Insights

Weaknesses

3
  • Company has a low return on equity of 13.1% over last 3 years.
  • Company might be capitalizing the interest cost
  • Dividend payout has been low at 9.93% of profits over last 3 years

Growth Rate

Revenue Growth
-2.88% ↘
Net Income Growth
2.86% ↘
Cash Flow Change
88.05% ↗
ROE
16.65% ↗
ROCE
25.46% ↗
EBITDA Margin (Avg.)
-1.95% ↘

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 34d ago
AI opinion · based on fundamentals
Risk medium

Nitin Spinners Ltd is a mid-cap textile company (market cap ~₹3,177 Cr) trading at a PE of 17.9x with FY26 revenue of ₹3,214 Cr and net profit of ₹177.5 Cr. The company has delivered a 15% sales CAGR over 10 years but faces near-term revenue softness (TTM sales growth of -3%) while carrying significant debt (secured loans of ₹1,165 Cr against equity of ~₹1,311 Cr) amid an ongoing ₹1,100 Cr capex expansion plan.

Bull Case 8
  • Strong long-term sales CAGR of 15% over both 5-year and 10-year periods, demonstrating consistent revenue scaling from a base of ~₹1,600 Cr to ₹3,214 Cr in FY26
  • Stock price CAGR of 31% over 5 years and 22% over 10 years indicates sustained wealth creation for long-term shareholders
  • ₹1,100 Cr capex plan to double woven fabric capacity is expected to add ~₹1,000 Cr in incremental revenue and improve margins by 100-150 bps through value-added products
  • Operating profit margin improved from 12.33% in FY23 to 14.07% in FY26, showing gradual margin recovery post the FY22 peak cycle
  • Operating cash flow of ₹410.5 Cr in FY26 (up 33% from ₹307.4 Cr in FY25) demonstrates strong cash generation ability to fund expansion
  • Debt reduced from ₹1,339 Cr in FY25 to ₹1,165 Cr in FY26, a deleveraging of ~₹174 Cr in one year despite ongoing capex
  • Interest cost declined from ₹90.4 Cr in FY25 to ₹70.9 Cr in FY26, a 22% reduction, improving profitability
  • Compounded profit growth of 21% over 5 years reflects strong earnings momentum over a medium-term horizon
Bear Case 8
  • TTM sales growth is -3%, indicating near-term revenue contraction from ₹3,306 Cr in FY25 to ₹3,214 Cr in FY26
  • Net profit of ₹177.5 Cr in FY26 remains 46% below the FY22 peak of ₹326 Cr, showing earnings have not recovered to prior cycle highs
  • 3-year ROE of only 13% is modest for a capital-intensive business, suggesting sub-optimal return on shareholder funds
  • Dividend payout of just 9.5-10.7% of profits over recent years means shareholders receive minimal cash returns (yield of 0.53%)
  • Debt-to-equity ratio of approximately 0.89x (₹1,165 Cr debt vs ~₹1,311 Cr equity in FY26) indicates meaningful leverage for a cyclical textile business
  • Potential capitalisation of interest costs may overstate asset quality and understate true operating expenses, distorting reported profitability
  • 3-year compounded profit growth of only 3% versus 10% sales growth signals margin compression and higher depreciation/interest burden from recent capex
  • OPM has declined sharply from 24.19% in FY22 to 14.07% in FY26, reflecting normalisation of the pandemic-era cotton yarn supercycle

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 34d ago
Positives 1
  • 100-150 bps margin improvement expected Jun 29

    Nitin Spinners anticipates 100-150 basis points margin improvement from its current expansion, which increases the proportion of value-added fabric in its product mix.

Neutral 2
  • No promoter share encumbrance in FY26 Jun 17

    Promoter Dinesh Nolkha held 3,18,82,000 shares as of March 31, 2026, with zero encumbrance throughout FY26.

  • Analyst meet hosted June 18 Jun 13

    Nitin Spinners held a virtual one-on-one analyst/investor meeting on June 18, 2026, hosted by Systematix Group.

TL;DR: Nitin Spinners is positioning for improved profitability through expansion into higher-margin value-added fabrics, with management guiding for 100-150 bps margin uplift. Promoter holding remains unencumbered, signaling confidence. No material headwinds are visible in recent news flow. The near-term trend appears constructive as the expansion benefits begin to flow through.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
617
737
750
801
803
823
839
841
793
760
801
860
875
Expenses
541
655
648
684
684
707
722
721
682
661
689
729
719
Operating Profit
76
82
103
116
119
115
117
120
111
100
112
130
156
OPM %
12%
11%
14%
15%
15%
14%
14%
14%
14%
13%
14%
15%
18%
Other Income
1
0
0
1
1
1
1
1
2
1
1
2
2
Interest
15
15
25
28
27
22
21
21
21
16
17
17
19
Depreciation
23
24
35
36
37
37
37
37
37
37
37
37
38
PBT
39
43
43
53
57
57
60
63
55
47
58
78
101
Tax %
26%
26%
26%
26%
26%
26%
25%
27%
26%
26%
24%
27%
25%
Net Profit
29
32
32
39
42
42
45
46
41
35
44
57
75
EPS in Rs
5.14
5.64
5.65
6.97
7.49
7.5
7.97
8.25
7.29
6.19
7.9
10.2
13.39
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
616
766
933
1,145
1,241
1,436
1,622
2,690
2,404
2,902
3,300
3,214
3,296
Expenses
516
629
799
990
1,062
1,266
1,365
2,039
2,107
2,525
2,829
2,761
2,798
Operating Profit
100
137
133
155
178
170
257
652
297
377
471
453
497
OPM %
16%
18%
14%
14%
14%
12%
16%
24%
12%
13%
14%
14%
15%
Other Income
4
1
1
2
3
2
2
-3
3
2
4
5
6
Interest
23
33
22
30
29
56
62
55
38
83
90
71
69
Depreciation
28
40
42
56
55
81
91
87
87
118
148
148
149
PBT
54
65
70
71
97
36
107
506
176
178
237
239
285
Tax %
24%
32%
18%
27%
34%
33%
35%
36%
6%
26%
26%
26%
—
Net Profit
41
44
57
52
64
24
69
326
165
132
175
178
212
EPS in Rs
8.94
9.63
12.51
9.43
11.4
4.24
12.25
58.01
29.32
23.39
31.2
31.58
37.68
Div. Payout %
11%
10%
10%
13%
11%
14%
12%
4%
9%
11%
10%
10%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
46
46
46
56
56
56
56
56
56
56
56
56
Reserves
121
160
218
361
426
438
507
820
973
1,090
1,255
1,415
Borrowings
378
352
568
449
860
1,040
962
689
980
1,339
1,165
1,124
Other Liabilities
65
77
53
63
93
111
151
260
209
231
256
319
Total Liabilities
610
635
885
929
1,436
1,645
1,676
1,824
2,218
2,717
2,732
2,915
Fixed Assets
417
382
613
570
524
1,140
1,060
1,012
1,011
1,709
1,577
1,489
CWIP
0
17
0
4
468
0
2
0
340
2
7
102
Investments
0
0
0
0
0
0
0
0
0
0
0
17
Other Assets
193
236
272
355
445
506
615
812
867
1,005
1,148
1,306
Total Assets
610
635
885
929
1,436
1,645
1,676
1,824
2,218
2,717
2,732
2,915
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
45
100
54
66
104
98
155
431
194
163
307
411
Investing
-219
-36
-241
-20
-483
-217
-11
-86
-433
-426
-22
-287
Financing
176
-65
188
-47
382
116
-144
-345
239
262
-279
-128
Net Cash Flow
1
0
1
-1
3
-3
0
0
0
0
7
-4
Free Cash Flow
-175
65
-188
46
-380
-119
143
345
-240
-262
286
119
CFO/OP
56
83
52
53
69
64
66
82
83
50
76
103
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
24
19
19
28
36
39
37
33
34
40
48
49
Inventory Days
90
90
105
103
99
96
137
100
110
108
105
110
Days Payable
9
10
11
13
15
15
21
20
12
14
16
18
Cash Conversion Cycle
105
99
113
118
119
120
153
113
132
134
137
141
Working Capital Days
32
31
22
54
37
16
28
46
40
43
51
44
ROCE %
18%
18%
13%
12%
11%
6%
11%
37%
12%
12%
13%
12%

Shareholding Pattern

As of Jun 2026
Promoters 56.71%
Public 21.36%
DIIs 14.68%
Others 5.34%
FIIs 1.92%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
56.17%
56.17%
56.17%
56.25%
56.25%
56.36%
56.36%
56.40%
56.41%
56.41%
56.41%
56.41%
56.46%
56.47%
56.50%
56.50%
56.62%
56.62%
56.62%
56.71%
56.71%
56.71%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.70%
0.60%
0.74%
1.50%
0.99%
0.83%
0.90%
0.92%
1.09%
1.92%
DIIs
10.53%
6.77%
4.07%
4.23%
4.58%
5.00%
5.57%
5.37%
6.30%
8.44%
11.24%
13.32%
13.74%
14.99%
14.85%
15.49%
15.42%
15.69%
15.69%
14.34%
14.28%
14.68%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
25.52%
27.86%
30.35%
29.54%
28.52%
28.82%
28.78%
28.21%
28.38%
26.71%
25.43%
24.01%
23.73%
22.43%
22.73%
21.51%
22.01%
21.64%
21.65%
22.46%
22.45%
21.36%
Others
7.77%
9.20%
9.41%
9.98%
10.65%
9.83%
9.29%
10.01%
8.91%
8.44%
6.91%
6.26%
5.38%
5.51%
5.18%
5.00%
4.96%
5.22%
5.14%
5.57%
5.48%
5.34%
No. of Shareholders
18,304
23,535
35,928
32,969
37,791
42,154
43,673
43,078
40,546
37,045
33,774
32,334
30,716
29,275
34,597
35,934
37,266
36,483
35,876
35,365
35,002
31,698

Documents

Frequently Asked Questions about Nitin Spinners Ltd

What does Nitin Spinners Ltd do?
Founded in 1992 in Bhilwara of Rajasthan, Nitin Spinners is India’s leading manufacturer of cotton yarn, knitted fabrics and finished woven fabrics.
Where is Nitin Spinners Ltd (NITINSPIN) listed?
Nitin Spinners Ltd is listed on the Indian stock exchanges. It is listed on NSE: NITINSPIN and BSE: 532698. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Nitin Spinners Ltd belong to?
Nitin Spinners Ltd operates in the Textiles sector within the Cotton/Blended industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Nitin Spinners Ltd?
Nitin Spinners Ltd has a market capitalisation of approximately ₹3235.18 Cr. Based on this, it is classified as a Small Cap stock.
What is the PE ratio of Nitin Spinners Ltd?
The Price-to-Earnings (PE) ratio of Nitin Spinners Ltd is 15.32. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Nitin Spinners Ltd?
Over the past 52 weeks, Nitin Spinners Ltd has traded between a low of ₹302.2 and a high of ₹590. This range helps investors understand the stock's price volatility and recent trading levels.
Does Nitin Spinners Ltd pay dividends?
Yes, Nitin Spinners Ltd has a dividend yield of 0.52%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Nitin Spinners Ltd?
Nitin Spinners Ltd has a Return on Equity (ROE) of 13.38%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Nitin Spinners Ltd on Tapetide?
On Tapetide, you can view Nitin Spinners Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Founded in 1992 in Bhilwara of Rajasthan, Nitin Spinners is India’s leading manufacturer of cotton yarn, knitted fabrics and finished woven fabrics.

Website nitinspinners.com
CEO Mr. Dinesh Nolkha
Employees 6,736
Listed 2006-02-02
Face Value ₹ 10
Issued Size 5,62,20,000

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