Nitco

NSE: NITCO · Ceramics

52W Range₹64 ₹124

Snapshot

Unlock Nitco's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

NITCO Limited is an Indian manufacturer specialising in floor and wall solutions, including ceramic, vitrified, and heavy-duty tiles. The company also maintains a presence in the real estate development sector.

Business Model

The company generates revenue through the manufacturing and sale of tiles via an extensive distribution network of direct and sub-dealers, alongside its branded display centres. It also derives income from the development and sale of real estate properties.

  • Direct Dealers:380
  • Sub Dealers:1,800
  • Display Centres:9
  • Franchised Stores:143

Growth Outlook

Growth is driven by the expansion of its retail footprint through franchised stores and the continued demand for diverse tile solutions in the Indian construction market.

Key Risks

  • Cyclicality of Real Estate. The company's real estate segment is highly sensitive to fluctuations in property demand and interest rate cycles.
  • Input Cost Volatility. Rising costs of raw materials and energy, such as natural gas, can significantly impact manufacturing margins.
  • Competitive Intensity. The Indian ceramics market is highly fragmented with intense competition from both organised and unorganised players.
  • Operational Leverage. High fixed costs associated with manufacturing facilities may pressure profitability during periods of low demand.

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Key Metrics

REVENUE

₹508 Cr

TTM · consolidated

+28.8%YoY

NET PROFIT

₹-29 Cr

TTM · consolidated

+95.5%YoY

EPS

₹-1.25

TTM · consolidated

+98.7%YoY

RETURN ON EQUITY

-9.5%

TTM · consolidated

+254.2 ppYoY

RETURN ON CAPITAL EMPLOYED

-3.2%

TTM · consolidated

+111.8 ppYoY

P/E

-76.9x

Q1 FY27 · consolidated

-76.9 vs -1.9x5Y avg

EV/EBITDA

-117.7x

Q1 FY27 · consolidated

-117.7 vs -64.6x5Y avg

EBITDA MARGIN

-4.3%

TTM · consolidated

-14.8 ppYoY

NET PROFIT MARGIN

-8.9%

Q1 FY27 · consolidated

-40.5 ppYoY

DEBT TO EQUITY

0.8x

Q1 FY27 · consolidated

-0.33xYoY

Peers · Ceramics

CompanyMkt CapP/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
NitcoNITCO
₹2,311 Cr-76.88-117.7328.8%-4.3%-9.5%-3.2%-18.3%
Kajaria Ceramics Ltd.KAJARIACER
₹19,743 Cr36.1619.918.3%19.7%18.9%24.4%-0.2%
Somany CeramicsSOMANYCERA
₹2,286 Cr21.497.859.3%10.5%12.5%16.4%+17.4%
Asian Granito India LimitedASIANTILES
₹1,490 Cr66.1318.5318.5%5.3%0.7%2.7%-14.7%
Orient BellORIENTBELL
₹618 Cr29.2111.6913.2%7.2%6.5%8.1%+39.4%

As of Q1 FY27

Financials