MarketFriction

Nitiraj Engineers Ltd

NSE NITIRAJ · Consumer Electronics
₹200.90 -4.00%
NSE close2026-10-01
52 week range168.00 - 241.00
Market cap₹221 Cr.
P/E92.2
IPO 2017 · +101% since Price band 20% Delivery 68.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Standalone, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales15.9120.2552.584.2712.5637.0822.6110.5416.3911.318.1818.84
Expenses13.1516.6842.325.8911.8627.4721.8610.5213.6810.208.4816.88
Operating Profit2.763.5710.26-1.620.709.610.750.022.711.11-0.301.96
OPM %17.35%17.63%19.51%-37.94%5.57%25.92%3.32%0.19%16.53%9.81%-3.67%10.40%
Other Income0.090.170.500.260.210.090.350.360.400.340.370.26
Interest0.000.010.020.030.010.070.100.000.030.010.020.01
Depreciation0.850.870.830.810.860.930.910.810.910.920.900.82
Profit before tax2.002.869.91-2.200.048.700.09-0.432.170.52-0.851.39
Tax %20.00%25.17%25.13%-25.00%50.00%25.17%155.56%-25.58%25.35%23.08%-25.88%26.62%
Net Profit1.612.147.42-1.650.026.51-0.06-0.321.630.39-0.641.02
EPS in Rs1.572.097.24-1.610.026.35-0.06-0.311.590.38-0.621.00
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales61.0658.8438.8053.8847.8653.4039.6346.08100.4476.5246.4154.72
Expenses52.4850.8935.0245.1744.2645.2937.8342.5482.0567.0942.8749.24
Operating Profit8.587.953.788.713.608.111.803.5418.399.433.545.48
OPM %14.05%13.51%9.74%16.17%7.52%15.19%4.54%7.68%18.31%12.32%7.63%10.01%
Other Income0.150.312.261.141.880.23-2.620.281.000.911.481.37
Interest0.740.510.050.110.450.280.500.320.090.200.060.07
Depreciation0.950.901.751.261.423.093.133.683.363.513.543.55
Profit before tax7.046.854.248.483.614.97-4.45-0.1815.946.631.423.23
Tax %23.86%32.85%27.59%28.54%28.25%26.76%-24.72%105.56%24.47%27.15%24.65%
Net Profit5.364.603.076.072.593.63-3.36-0.3712.044.831.062.40
EPS in Rs7.154.472.985.892.533.54-3.28-0.3611.754.711.032.35
Dividend Payout %0.00%3.57%0.00%0.00%0.00%0.00%0.00%0.00%12.77%31.83%0.00%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth-3%-3%0%-34%
Compounded Profit Growth-22%-35%%-61%
Stock Price CAGR%38%26%8%
Return on Equity5%4%7%1%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital1.006.008.208.208.2010.2510.2510.2510.2510.2510.2510.25
Reserves27.0625.6349.4252.6158.6859.2261.3957.9757.3369.4172.5672.08
Borrowings2.027.190.000.000.005.350.623.973.200.230.020.02
Other Liabilities6.986.337.553.285.993.897.255.569.0410.639.7310.82
Total Liabilities37.0645.1565.1764.0972.8778.7179.5177.7579.8290.5292.5693.17
Fixed Assets12.208.7310.8012.5026.8033.4528.1036.3133.6032.5835.1636.89
CWIP0.500.000.000.000.004.0811.151.601.601.601.862.13
Investments0.011.0122.0124.692.012.012.392.461.4912.3018.728.25
Other Assets24.3535.4132.3626.9044.0639.1737.8737.3843.1344.0436.8245.90
Total Assets37.0645.1565.1764.0972.8778.7179.5177.7579.8290.5292.5693.17
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity-2.94-4.29-4.96-2.8015.869.901.541.450.7117.8714.20-3.43
Cash from Investing Activity-1.76-0.80-2.97-3.33-15.61-10.90-4.01-5.690.50-12.84-12.446.29
Cash from Financing Activity1.485.1714.820.00-0.064.62-0.462.96-1.19-3.20-1.83-1.60
Net Cash Flow-3.210.076.90-6.140.193.62-2.93-1.280.021.84-0.081.27
Free Cash Flow-4.70-5.09-7.59-5.091.510.42-2.47-3.45-0.1215.547.86-8.98
CFO/OP-16%-50%-62%-74%182%275%25%141%20%108%160%-82%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days52.0962.2333.6239.42104.1974.1360.3575.9851.6446.4832.2537.04
Inventory Days217.39264.20158.45223.01239.67198.70175.08260.16340.96112.77161.51424.80
Days Payable26.5084.29104.6653.9579.6248.3129.5616.6638.3416.4920.2541.69
Cash Conversion Cycle242.98242.1387.41208.47264.25224.51205.87319.49354.26142.76173.51420.15
Working Capital Days112.24100.5561.97147.03188.12118.90170.61206.12182.3490.2095.35221.23
ROCE %21.55%22.58%15.26%7.26%12.77%4.43%7.14%-1.23%0.45%21.00%7.96%1.17%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters69.07%69.07%69.07%69.07%69.07%69.07%69.07%69.07%69.07%69.07%69.07%69.07%
FIIs0.00%0.00%0.00%0.00%0.00%0.00%0.05%0.00%0.00%0.00%0.00%0.00%
Public30.93%30.93%30.93%30.93%30.93%30.93%30.88%30.93%30.93%30.93%30.93%30.93%
No. of Shareholders1,4301,7871,9612,0622,8433,4284,5714,3564,2584,0133,5453,598

Fundamentals

Market Cap₹ 221 Cr.
Current Price₹ 216
Stock P/E92.2
Book Value₹ 80.3
ROCE1.17 %
ROE0.52 %
Dividend Yield0.70 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)-34%
Compounded Profit Growth (TTM)-61%
Standalone figures.
Valuation
Market capRs 206 Cr
Enterprise valueRs 202 Cr
P/E (TTM)85.81x
Price to book2.50x
Price to sales3.76x
EV / EBITDA29.51x
EV / EBIT61.25x
EV / sales3.69x
Earnings yield1.17%
P/E, 3-year average88.52x
P/B, 3-year average2.68x
P/E, 5-year average88.52x
P/B, 5-year average2.04x
Profitability
Operating margin (excl. other income)7.63%
Operating margin (incl. other income)10.82%
EBITDA margin12.52%
Pre-tax margin5.90%
Net profit margin4.39%
Net margin, latest quarter5.41%
ROE1.28%
ROCE1.79%
ROA1.14%
ROE, 3-year average7.86%
ROCE, 3-year average10.49%
ROA, 3-year average6.85%
ROE, 5-year average3.65%
ROCE, 5-year average5.24%
ROA, 5-year average3.16%
ROIC (approx.)3.17%
Tax rate24.65%
Other income / net worth1.80%
Growth
Sales growth (latest year)-39.35%
Profit growth (latest year)-78.05%
Sales CAGR, 3 years0.24%
Sales CAGR, 5 years-2.77%
Profit CAGR, 5 years-21.82%
Sales growth QoQ130.32%
Sales growth YoY (latest quarter)78.75%
Per share
EPS (TTM)Rs 2.34
EPS (latest year)Rs 1.03
EPS (latest quarter)Rs 0.99
EPS, 3-year averageRs 5.83
EPS, 5-year averageRs 2.77
Book value per shareRs 80.31
Sales per shareRs 53.38
Cash flow per shareRs -3.35
Free cash flow per shareRs -8.76
Dividend per share, 3-year averageRs 1.50
Dividend per share, 5-year averageRs 1.50
Dividends
Dividend payout, 3-year average22.34%
Dividend payout, 5-year average22.34%
Efficiency
Asset turnover0.50x
Fixed asset turnover1.26x
Inventory turnover1.04x
Inventory days352 days
Debtor days37 days
Debtors turnover9.85x
Creditor days42 days
Cash conversion cycle420 days
Working capital days221 days
Leverage
Total debtRs 0 Cr
Cash and bankRs 4 Cr
Net debtRs -4 Cr
Debt to equity0.00x
Net debt / EBITDA-0.56x
Interest coverage47.14x
Owners' fund to total sources88.37%
Debt to assets0.02%
Cash flow
Cash from Operating Activity (latest year)Rs -3 Cr
Cash from Investing Activity (latest year)Rs 6 Cr
Cash from Financing Activity (latest year)Rs -2 Cr
Net Cash Flow (latest year)Rs 1 Cr
Free cash flow (latest year)Rs -9 Cr
FCFE (approx.: FCF + change in debt)Rs -9 Cr
Cash from ops / profit, 5 years2.17x
Statement figures
Net sales (TTM)Rs 55 Cr
Net sales (latest year)Rs 46 Cr
Sales (latest quarter)Rs 19 Cr
Operating profit excl. other income (latest year)Rs 4 Cr
Operating profit (latest quarter)Rs 2 Cr
Other income (TTM)Rs 1 Cr
EBITDA (TTM)Rs 7 Cr
PBDT (TTM)Rs 7 Cr
Profit before tax (TTM)Rs 3 Cr
Tax (latest year)Rs 0 Cr
Net profit (TTM)Rs 2 Cr
Net profit (latest year)Rs 1 Cr
Net profit (latest quarter)Rs 1 Cr
Depreciation (TTM)Rs 4 Cr
Depreciation (latest quarter)Rs 1 Cr
Interest (TTM)Rs 0 Cr
Cost of goods sold (latest year)Rs 23 Cr
Total expenditure (latest year)Rs 43 Cr
Total income (latest year)Rs 48 Cr
Share capitalRs 10 Cr
ReservesRs 72 Cr
Shareholders' fundsRs 82 Cr
Total assetsRs 93 Cr
Net blockRs 37 Cr
Capital work in progressRs 2 Cr
InvestmentsRs 8 Cr
ReceivablesRs 5 Cr
InventoryRs 23 Cr
Other liabilitiesRs 11 Cr
Shares outstanding (crore)1.03
Ownership
Promoter holding69.07% (+0.00 in a year)
Computed by MarketFriction from the standalone statements. Returns use average balances.
P/E 85.8 is at the 89th percentile of its own 7.1-year range (median 19.1, low 9.4, high 208.7).
P/B 2.50 is at the 79th percentile (median 1.21).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodNITIRAJNifty 50Difference
1 week-11.2%-2.8% -8.4 pts
1 month-1.8%-6.8% +5.0 pts
3 months+7.5%-7.6% +15.1 pts
6 months-0.0%+0.4% -0.4 pts
1 year-2.1%-9.9% +7.8 pts
2 years-16.7%-13.6% -3.1 pts
3 years+87.8%+14.2% +73.6 pts
5 years+363.4%+27.9% +335.5 pts

Red flags

F-score 3 of 8
lookInventory outrunning sales Inventory grew 37% vs sales -39% in 2026
lookProfit leans on other income Other income was 104% of pre-tax profit in 2026
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹19 Cr +78.7% vs Jun 2025. Net profit ₹1 Cr +418.8%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
Dixon Technologies (India) Ltd81,05143.229.2 %
Havells India Ltd65,47439.324.9 %
PG Electroplast Ltd14,14168.710.3 %
IKIO Technologies Ltd1,52332.89.49 %
Onida Electronics Ltd1,179-17.0 %
CWD Ltd66258.518.2 %
Cellecor Gadgets Ltd65716.622.7 %
Universus Photo Imagings Ltd554-12.1 %
Arham Technologies Ltd46938.419.8 %
Focus Lighting & Fixtures Ltd38562.86.55 %
Smaart Tech Services Ltd335-7,026 %
Veto Switchgears & Cables Ltd27910.211.6 %
Sonam Ltd27430.414.1 %
BPL Ltd2281.37 %
Nanta Tech Ltd18923.232.7 %
No bulk or block deals on record.
Ex-dateActionFactor
2025-09-16Dividend - Rs 1.50 Per Share
2025-05-02Extra Ordinary General Meeting
2024-09-17Dividend - Rs 1.50 Per Share
2024-09-17Annual General Meeting
2023-09-18Annual General Meeting
2022-09-22Annual General Meeting
2021-09-20 Annual General Meeting
DateTypeWhat it says
2026-09-29Shareholder meetingVoting results.
2026-09-28Shareholder meetingProceedings of Annual General Meeting held on September 28, 2026
2026-09-05UpdatesBook Closure for Annual General Meeting.
2026-09-05UpdatesIntimation of Letter sent by the company to those shareholders whose e-mail addresses are not registered with Company/Registrar & Transfer Agent/Depos...
2026-09-04Shareholder meetingNotice of Annual General Meeting to be held on September 28, 2026
2026-09-04Board meeting outcomeOutcome of Board Meeting held on September 04, 2026.
2026-08-13Board meeting outcomeOutcome of Board Meeting held on August 13, 2026.
2026-08-13Board meeting outcomeNitiraj Engineers Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-06Disclosure under SEBI TakeovNitiraj Engineers Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Sub...
2026-06-10General UpdatesGeneral Updates
2026-06-10Granting/withdrawal/surrendeGranting/withdrawal/surrender/cancellation/suspension of key licenses/ regulatory approvals
2026-06-09AppointmentAppointment of Mrs Soni Shailesh Karwa as Company Secretary & Compliance Officer of the company w.e.f. Jun 10, 2026.
2026-06-09Board meeting outcomeOutcome of Board Meeting held on Jun 09, 2026.
2026-06-01ResignationResignation of Mrs Deepika Amit Dalmiya as Company Secretary & Compliance Officer of the company w.e.f. Jun 01, 2026.
2026-06-01ResignationResignation of Director/KMP/SMP
2026-05-29Board meeting outcomeNitiraj Engineers Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
2026-05-12UpdatesUpdate regarding Government Approval resulting in significant operational savings..
2026-05-07UpdatesCompany has received approval from the Government of India, Ministry of Consumer Affairs, Food & Public Distribution, Department of Consumer Affai...
2026-03-13Order winBagging/Receiving of orders/contracts
2026-03-10Shareholder meetingVoting results.
2026-03-05Order winBagging/Receiving of orders/contracts
2026-02-13Board meeting outcomeNitiraj Engineers Limited has submitted to the Exchange, the financial results for the period ended December 31, 2025.
2026-02-13Board meeting outcomeBoard meeting held on February 13, 2026.
2026-02-06Shareholder meetingNotice of Postal Ballot
2026-02-06Board meeting outcomeBoard meeting held on February 06, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Less than 100 unique PAN traded in previous 30 daysScrip PE is greater than 50 (4 trailing quarters)

Quick answers

What is the market cap of Nitiraj Engineers Ltd?

Nitiraj Engineers Ltd (NITIRAJ) has a market capitalisation of Rs 221 Cr. at the 2026-10-01 close.

What is the P/E ratio of Nitiraj Engineers Ltd?

Nitiraj Engineers Ltd trades at a P/E of 92.2 on trailing twelve-month profit, at the 2026-10-01 close.

What were Nitiraj Engineers Ltd's latest quarterly results?

In the Jun 2026 quarter, Nitiraj Engineers Ltd sales was Rs 19 Cr (+78.7% vs Jun 2025) and net profit was Rs 1 Cr.

What is the 52-week high and low of Nitiraj Engineers Ltd?

The 52-week high is Rs 241.00 and the 52-week low is Rs 168.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03