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Nitiraj Engineers Ltd.
(NITIRAJ)
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Rating:47Neutral
Price Target:
₹216.00
▲(18.61% Upside)
Action:Reiterated
Date:06/11/26
The score is held down primarily by weakening financial performance—especially the FY2026 cash flow reversal and sharp revenue decline—despite a strong, low-debt balance sheet. Technical indicators also point to a bearish trend, and valuation is unfavorable due to an extremely high P/E with only a modest dividend yield.
Positive Factors
Very low leverage and strong equity base
Near-zero leverage and a substantial equity base give Nitiraj financial flexibility to withstand operating weakness and fund future initiatives without heavy reliance on borrowing. This lowers solvency risk and preserves capacity for investment, working-capital support, or strategic opportunities over the coming quarters.
Negative Factors
Sharp and sustained revenue contraction
The steep revenue contraction signals weakened demand, customer activity, or sales execution and directly reduces the scale available to absorb fixed operating costs. If this decline persists, it can erode market position, limit reinvestment, and make a durable earnings recovery more difficult over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage and strong equity base
Near-zero leverage and a substantial equity base give Nitiraj financial flexibility to withstand operating weakness and fund future initiatives without heavy reliance on borrowing. This lowers solvency risk and preserves capacity for investment, working-capital support, or strategic opportunities over the coming quarters.
Read all positive factors
Nitiraj Engineers Ltd. (NITIRAJ) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.25B
Dividend Yield0.68%
Average Volume (3M)4.16K
Price to Earnings (P/E)93.1
Beta (1Y)0.52
Revenue Growth-33.91%
EPS Growth-60.86%
CountryIN
Employees267
SectorGeneral
Sector StrengthN/A
IndustryHardware, Equipment & Parts
Share Statistics
EPS (TTM)1.03
Shares Outstanding10,251,000
10 Day Avg. Volume6,027
30 Day Avg. Volume4,161
Financial Highlights & Ratios
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 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
Nitiraj Engineers Ltd. Business Overview & Revenue Model
Company Description
Nitiraj Engineers Limited manufactures and sells various electronic weighing scales, currency counting machines, and taxi fare meters for industrial and domestic sectors in India and internationally. The company operates through Electronic Weighin...
How the Company Makes Money
Nitiraj Engineers Ltd. primarily makes money by selling its manufactured weighing and measurement products to customers (businesses and other buyers) through its sales and distribution channels. Revenue is generated mainly from (i) sales of electr...
Nitiraj Engineers Ltd. Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
84
Very Positive
Cash Flow
33
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 464.11M | 765.17M | 1.00B | 460.80M | 396.26M |
| Gross Profit | 162.25M | 293.20M | 422.03M | 213.36M | 143.45M |
| EBITDA | 50.19M | 103.38M | 193.86M | 37.00M | -8.27M |
| Net Income | 10.61M | 48.31M | 120.36M | -3.71M | -35.27M |
Balance Sheet | |||||
| Total Assets | 931.63M | 930.04M | 905.18M | 798.25M | 772.26M |
| Cash, Cash Equivalents and Short-Term Investments | 113.83M | 208.46M | 134.57M | 8.07M | 17.11M |
| Total Debt | 233.00K | 230.00K | 2.33M | 31.91M | 39.78M |
| Total Liabilities | 108.27M | 101.94M | 108.57M | 122.45M | 95.27M |
| Stockholders Equity | 823.35M | 828.11M | 796.61M | 675.80M | 676.99M |
Cash Flow | |||||
| Free Cash Flow | -89.19M | 77.92M | 154.42M | -1.53M | -38.59M |
| Operating Cash Flow | -34.17M | 140.63M | 178.75M | 7.08M | 14.53M |
| Investing Cash Flow | 62.21M | -124.39M | -128.39M | 4.98M | -56.91M |
| Financing Cash Flow | -15.38M | -18.35M | -32.00M | -11.86M | 29.55M |
Nitiraj Engineers Ltd. Technical Analysis
Positive
182.11
Price Trends
204.12
Positive
200.77
Positive
197.95
Positive
Market Momentum
0.56
Negative
64.96
Neutral
69.33
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 204.89, below the 50-day MA of 204.12, and below the 200-day MA of 197.95, indicating a bullish trend. The MACD of 0.56 indicates Negative momentum. The RSI at 64.96 is Neutral, neither overbought nor oversold. The STOCH value of 69.33 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
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹281.33B | 75.80 | ― | 0.10% | 53.03% | 70.86% | |
60 Neutral | ₹146.77B | 109.11 | ― | ― | 44.38% | 65.57% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
54 Neutral | ₹160.70B | 77.88 | ― | 0.04% | 15.15% | -25.34% | |
53 Neutral | ₹67.97B | 82.66 | ― | ― | -11.90% | 26.33% | |
47 Neutral | ₹2.25B | 93.13 | ― | 0.68% | -33.91% | -60.86% | |
43 Neutral | ₹55.63B | 104.76 | ― | 0.13% | -1.41% | 605.33% |
* General Sector Average
IN:NITIRAJ
Nitiraj Engineers Ltd.
219.19
25.45
13.14%
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2,196.75
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Centum Electronics Limited
3,768.25
814.00
27.55%
IN:CYIENTDLM
Cyient DLM Limited
856.20
390.25
83.75%
IN:PGEL
PG Electroplast Limited
560.40
9.09
1.65%
IN:SYRMA
Syrma SGS Technology Limited
1,458.95
601.57
70.16%
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.