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Nitco Limited
(NITCO)
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Rating:43Neutral
Price Target:
₹84.00
▼(-19.31% Downside)
Action:Reiterated
Date:09/19/26
The score is held down primarily by very weak cash flow (deeply negative operating/free cash flow) and a fragile recent financial history despite a FY2026 profitability rebound. Technicals are also bearish with the stock below key moving averages and negative MACD, while valuation support is limited due to a negative P/E and no dividend yield data.
Positive Factors
Revenue and Profitability Rebound
The FY2026 rebound shows that Nitco can regain sales and reported profitability after a difficult period. If revenue momentum persists, the larger operating base could support improved earnings capacity, though consistency remains important.
Negative Factors
Deeply Negative Cash Flow
Negative operating and free cash flow means reported earnings are not currently translating into internally generated liquidity. Persistent weak cash conversion could require additional funding, constrain investment and increase vulnerability if operating conditions deteriorate.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profitability Rebound
The FY2026 rebound shows that Nitco can regain sales and reported profitability after a difficult period. If revenue momentum persists, the larger operating base could support improved earnings capacity, though consistency remains important.
Read all positive factors
Nitco Limited (NITCO) vs. iShares MSCI India ETF (INDA)
Market Cap
₹21.18B
Dividend Yield0.99%
Average Volume (3M)55.13K
Price to Earnings (P/E)―
Beta (1Y)1.71
Revenue Growth28.75%
EPS Growth98.71%
CountryIN
Employees518
SectorGeneral
Sector StrengthN/A
IndustryConstruction Materials
Share Statistics
EPS (TTM)-1.25
Shares Outstanding240,566,100
10 Day Avg. Volume25,848
30 Day Avg. Volume55,128
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 | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.08B | 5.42B | 3.13B | 3.25B | 3.80B | 4.11B |
| Gross Profit | 702.89M | 1.07B | 733.93M | -266.60M | 671.26M | 827.75M |
| EBITDA | -74.18M | 493.62M | -4.83B | -388.89M | -486.30M | -318.07M |
| Net Income | -288.98M | 289.01M | -7.41B | -1.63B | -1.51B | -1.26B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 10.90B | 9.21B | 7.30B | 8.18B | 8.71B |
| Cash, Cash Equivalents and Short-Term Investments | 313.66M | 323.82M | 926.44M | 73.05M | 118.36M | 124.40M |
| Total Debt | 0.00 | 3.14B | 2.91B | 9.87B | 8.95B | 8.23B |
| Total Liabilities | -3.65B | 7.26B | 6.75B | 12.60B | 11.84B | 10.87B |
| Stockholders Equity | 3.65B | 3.65B | 2.47B | -5.12B | -3.49B | -1.98B |
Cash Flow | ||||||
| Free Cash Flow | -650.84M | -1.71B | -1.49B | -92.55M | 22.21M | 47.09M |
| Operating Cash Flow | -618.82M | -1.62B | -1.48B | -87.89M | 25.86M | 47.09M |
| Investing Cash Flow | -26.01M | -95.33M | 40.07M | -4.66M | -3.65M | 37.09M |
| Financing Cash Flow | 325.62M | 1.11B | 2.28B | 53.31M | -34.32M | -86.86M |
Nitco Limited Technical Analysis
Negative
104.10
Price Trends
96.76
Negative
99.68
Negative
92.10
Negative
Market Momentum
-2.04
Negative
40.48
Neutral
56.93
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NITCO, the sentiment is Negative. The current price of 104.1 is above the 20-day moving average (MA) of 91.80, above the 50-day MA of 96.76, and above the 200-day MA of 92.10, indicating a bearish trend. The MACD of -2.04 indicates Negative momentum. The RSI at 40.48 is Neutral, neither overbought nor oversold. The STOCH value of 56.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NITCO.
Nitco Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹191.31B | 35.53 | ― | 1.15% | 8.32% | 74.12% | |
66 Neutral | ₹6.04B | 28.34 | ― | 0.24% | 13.22% | 387.47% | |
62 Neutral | ₹25.34B | 23.83 | ― | 0.98% | 9.32% | 82.85% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹22.66B | 23.81 | ― | 0.08% | -35.05% | -48.06% | |
47 Neutral | ₹15.05B | 66.70 | ― | 2.50% | 18.50% | -67.27% | |
43 Neutral | ₹21.18B | -70.37 | ― | 0.99% | 28.75% | 98.71% |
* General Sector Average
IN:NITCO
Nitco Limited
88.05
-22.45
-20.32%
IN:ASIANTILES
Asian Granito India Limited
50.76
-6.99
-12.10%
IN:KAJARIACER
Kajaria Ceramics Limited
1,217.40
68.05
5.92%
IN:ORIENTBELL
Orient Bell Limited
409.65
118.17
40.54%
IN:POKARNA
Pokarna Limited
730.95
-37.07
-4.83%
IN:SOMANYCERA
Somany Ceramics Limited
617.95
170.01
37.95%
Nitco Limited Corporate Events
Nitco Recovers Rs 9.96 Crore Long-Outstanding Capital Advance
Aug 24, 2026
Nitco Limited has fully recovered a long-outstanding capital advance that had been extended to Saumya Buildcon Private Limited over a decade ago for a proposed land transaction that ultimately did not materialise. The company announced that SBPL h...
Nitco Signs Rs 1,300–1,500 Crore Alibaug Land Development MOU
Aug 24, 2026
Nitco Limited, its wholly owned subsidiary Nitco Realties and promoter Vivek Talwar have signed a memorandum of understanding with HOABL Impactum Land Private Limited for joint development of land parcels in Thal and Lonare villages in Alibaug, Ra...
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...
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.