New Risk • May 15
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 35% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.6x net interest cover). High level of non-cash earnings (35% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (9.3% average weekly change). Reported Earnings • May 15
Full year 2026 earnings released: EPS: ₹1.26 (vs ₹74.59 loss in FY 2025) Full year 2026 results: EPS: ₹1.26 (up from ₹74.59 loss in FY 2025). Revenue: ₹5.54b (up 70% from FY 2025). Net income: ₹289.0m (up ₹7.70b from FY 2025). Profit margin: 5.2% (up from net loss in FY 2025). Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 76% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹102, the stock trades at a trailing P/E ratio of 72.4x. Average trailing P/E is 25x in the Building industry in India. Total returns to shareholders of 482% over the past three years. Annuncio • Apr 23
NITCO Limited to Report Q4, 2026 Results on May 13, 2026 NITCO Limited announced that they will report Q4, 2026 results on May 13, 2026 New Risk • Mar 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.3% average weekly change). Minor Risk Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹81.63, the stock trades at a trailing P/E ratio of 55.1x. Average trailing P/E is 24x in the Building industry in India. Total returns to shareholders of 324% over the past three years. Reported Earnings • Feb 16
Third quarter 2026 earnings released: ₹0.52 loss per share (vs ₹91.87 loss in 3Q 2025) Third quarter 2026 results: ₹0.52 loss per share (improved from ₹91.87 loss in 3Q 2025). Revenue: ₹1.34b (up 58% from 3Q 2025). Net loss: ₹119.0m (loss narrowed 98% from 3Q 2025). Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 51% per year, which means it is well ahead of earnings. Annuncio • Jan 22
NITCO Limited to Report Q3, 2026 Results on Feb 12, 2026 NITCO Limited announced that they will report Q3, 2026 results on Feb 12, 2026 New Risk • Dec 29
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹2.7b free cash flow). Earnings have declined by 44% per year over the past 5 years. Shareholders have been substantially diluted in the past year (219% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (7.1% average weekly change). Board Change • Dec 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Independent Director Harsh Kedia was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Nov 13
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₹2.7b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₹2.7b free cash flow). Earnings have declined by 44% per year over the past 5 years. Shareholders have been substantially diluted in the past year (219% increase in shares outstanding). Annuncio • Nov 05
NITCO Limited to Report Q2, 2026 Results on Nov 12, 2025 NITCO Limited announced that they will report Q2, 2026 results at 12:08 PM, Indian Standard Time on Nov 12, 2025 Board Change • Oct 06
High number of new directors Independent Director Harsh Kedia was the last director to join the board, commencing their role in 2022. Annuncio • Sep 08
NITCO Limited, Annual General Meeting, Sep 29, 2025 NITCO Limited, Annual General Meeting, Sep 29, 2025, at 12:00 Indian Standard Time. Annuncio • Aug 15
NITCO Limited announced that it expects to receive INR 4.10244975 billion in funding NITCO Limited announces a private placement with Mr. Vivek Talwar to issue 44,471,000 equity shares at a price of INR 92.25 per share for gross proceeds of INR 4,102,449,750 on August 14, 2025. Annuncio • Aug 06
NITCO Limited to Report Q1, 2026 Results on Aug 11, 2025 NITCO Limited announced that they will report Q1, 2026 results on Aug 11, 2025 Annuncio • Apr 22
NITCO Limited to Report Q4, 2025 Results on Apr 28, 2025 NITCO Limited announced that they will report Q4, 2025 results on Apr 28, 2025 Annuncio • Mar 14
Siva Green Energy India Private Limited completed the acquisition Wind Energy Business Undertaking of NITCO Limited (NSEI:NITCO). Siva Green Energy India Private Limited entered into a Business Transfer Agreement to acquire Wind Energy Business Undertaking of NITCO Limited (NSEI:NITCO) for INR 63 million on February 12, 2025. A cash consideration of INR 63 million will be paid by Siva Green Energy India Private Limited. As part of consideration, INR 63 million is paid towards assets of Wind Energy Business Undertaking of NITCO Limited.
For the period ending March 31, 2024, Wind Energy Business Undertaking of NITCO Limited reported total revenue of INR 13.21 million.
The transaction is subject to approval of merger agreement by target board, approval/consents of lenders/creditors, subject to shareholder approval and other necessary approvals. The deal has been approved by the board. The expected completion of the transaction within 90 days.
Siva Green Energy India Private Limited completed the acquisition Wind Energy Business Undertaking of NITCO Limited (NSEI:NITCO) on March 12, 2025. The transaction is completed by fulfillment of conditions and post obtaining requisite approvals from shareholders. Annuncio • Feb 13
NITCO Limited (NSEI:NITCO) agreed to acquire Wind Energy Business Undertaking of NITCO Limited (NSEI:NITCO) for INR 63 million. Siva Green Energy India Private Limited entered into a Business Transfer Agreement to acquire Wind Energy Business Undertaking of NITCO Limited (NSEI:NITCO) for INR 63 million on February 12, 2025. A cash consideration of INR 63 million will be paid by Siva Green Energy India Private Limited. As part of consideration, INR 63 million is paid towards assets of Wind Energy Business Undertaking of NITCO Limited.
For the period ending March 31, 2024, Wind Energy Business Undertaking of NITCO Limited reported total revenue of INR 13.21 million.
The transaction is subject to approval of merger agreement by target board, approval/consents of lenders/creditors, subject to shareholder approval and other necessary approvals. The deal has been approved by the board. The expected completion of the transaction within 90 days. Annuncio • Feb 07
NITCO Limited to Report Q3, 2025 Results on Feb 12, 2025 NITCO Limited announced that they will report Q3, 2025 results at 12:08 PM, Indian Standard Time on Feb 12, 2025 Annuncio • Nov 09
NITCO Limited to Report Q2, 2025 Results on Nov 13, 2024 NITCO Limited announced that they will report Q2, 2025 results on Nov 13, 2024 Annuncio • Aug 30
NITCO Limited, Annual General Meeting, Sep 20, 2024 NITCO Limited, Annual General Meeting, Sep 20, 2024, at 12:00 Indian Standard Time. Annuncio • Aug 07
NITCO Limited to Report Q1, 2025 Results on Aug 13, 2024 NITCO Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Annuncio • May 30
NITCO Limited Approves Appointment of Jyoti Ranjan as Head - Human Resource and Designated as Senior Management Personnel NITCO Limited at its meeting held on May 29, 2024 approved appointment of Mr. Jyoti Ranjan as Head - Human Resource and designated him as Senior Management Personnel of the Company. Annuncio • May 24
NITCO Limited to Report Q4, 2024 Results on May 29, 2024 NITCO Limited announced that they will report Q4, 2024 results on May 29, 2024 Annuncio • Feb 06
NITCO Limited to Report Q3, 2024 Results on Feb 12, 2024 NITCO Limited announced that they will report Q3, 2024 results on Feb 12, 2024 Annuncio • Nov 04
NITCO Limited to Report Q2, 2024 Results on Nov 09, 2023 NITCO Limited announced that they will report Q2, 2024 results on Nov 09, 2023 New Risk • Oct 07
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.0% average weekly change). Negative equity (-₹3.7b). Earnings have declined by 27% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₹1.41b market cap, or US$17.0m). Annuncio • Sep 02
NITCO Limited, Annual General Meeting, Sep 25, 2023 NITCO Limited, Annual General Meeting, Sep 25, 2023, at 11:30 Indian Standard Time. Agenda: To consider the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2023 and the Reports of Board of Directors and the Auditors thereon; and to consider the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2023, together with the Report of the Auditors thereon; to consider appoint a Director in place of Mr. Vivek Talwar retires by rotation and being eligible, offers himself for re-appointment; to consider Ratification of Remuneration payable to Cost Auditor for the Financial Year 2023-24; and to consider other matters. Reported Earnings • Aug 13
First quarter 2024 earnings released: ₹4.56 loss per share (vs ₹5.31 loss in 1Q 2023) First quarter 2024 results: ₹4.56 loss per share (improved from ₹5.31 loss in 1Q 2023). Revenue: ₹941.4m (up 3.5% from 1Q 2023). Net loss: ₹327.7m (loss narrowed 15% from 1Q 2023). Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 5% per year, which means it has not declined as severely as earnings. Annuncio • Aug 13
NITCO Limited Appoints Sitanshu Satapathy as Chief Financial Officer NITCO Limited announced that at its board meeting held on August 12, 2023, approved the appointment of Mr. Sitanshu Satapathy as Chief Financial Officer and designate him as Key Managerial Personnel (KMP) of the Company under Section 203 of the Companies Act, 2013 with effect from August 12, 2023. Mr. Sitanshu Satapathy is a Chartered Accountant, MBA in Finance from Viswabharathi University, Kolkata and has done Graduation and Post Graduation in Economics from Utkal university, Bhubaneswar. Mr. Satapathy has more than 23 years of experiences in various roles and capacities. He has varied experience and expertise in the field of Accounts, Finance, HR, Commercial, operations etc. and various other related matters. Annuncio • Aug 05
NITCO Limited to Report Q1, 2024 Results on Aug 12, 2023 NITCO Limited announced that they will report Q1, 2024 results at 4:00 PM, Indian Standard Time on Aug 12, 2023 New Risk • Jul 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-₹3.7b). Earnings have declined by 44% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Market cap is less than US$100m (₹1.45b market cap, or US$17.7m). Reported Earnings • Jun 01
Full year 2023 earnings released: ₹21.05 loss per share (vs ₹17.55 loss in FY 2022) Full year 2023 results: ₹21.05 loss per share (further deteriorated from ₹17.55 loss in FY 2022). Revenue: ₹3.88b (down 5.4% from FY 2022). Net loss: ₹1.51b (loss widened 20% from FY 2022). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Annuncio • May 25
NITCO Limited to Report Q4, 2023 Results on May 30, 2023 NITCO Limited announced that they will report Q4, 2023 results on May 30, 2023 Reported Earnings • Feb 14
Third quarter 2023 earnings released: ₹4.80 loss per share (vs ₹4.14 loss in 3Q 2022) Third quarter 2023 results: ₹4.80 loss per share (further deteriorated from ₹4.14 loss in 3Q 2022). Revenue: ₹1.13b (down 5.9% from 3Q 2022). Net loss: ₹344.7m (loss widened 13% from 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 32% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Annuncio • Feb 07
NITCO Limited to Report Q3, 2023 Results on Feb 13, 2023 NITCO Limited announced that they will report Q3, 2023 results at 12:08 PM, Indian Standard Time on Feb 13, 2023 Board Change • Dec 02
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. Chairman & MD Vivek Talwar is the most experienced director on the board, commencing their role in 1980. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Annuncio • Nov 23
NITCO Limited Appoints Anjani Kumar Sharma as A Chief Financial Officer NITCO Limited appointed Anjani Kumar Sharma as a Chief Financial Officer and designated him as a Key Managerial Personnel (KMP) of the Company effective November 22, 2022. Mr. Anjani Kumar Sharma, is qualified CharteredAccountant; noted as an Expert Manager bringing in rare level business acumen offering 24 years' career. Mr. Sharma have experience in conceptualizing and implementing financial procedures and actively involved in the Fund Raising/Deployment, Taxation (International), Working Capital Management, Mergers & Acquisitions, Profit Monitoring and Building Internal Financial Controls. He is a leader with solid talents in building and maintaining robust financial systems with a proven track record of several process improvement and systems implementation initiatives. Merges hands- on leadership with excellent communication skills to continually motivate focused teams toward goal attainment. He is known for providing a stabilizing influence, regardless of the situation. Persistent, resourceful and innovative with relentless initiative are some of his key expertise. Mr. Sharma is well versed with Mergers and acquisition, Organisational restructuring and remodeling to capture efficiency in commercial environment with inbuilt prudent and pragmatic tax efficiency. He is conversant with national and international accounting GAAP's like IFRS, US GAAP, Canadian GAAP, etc. and also possess strong planning & relationship management skills with vital contribution in running of the company. Proves expertise in IT enabled environment for setting up and Implementing ERPs Like SAP, Oracle and SAGE ACCPAC and BI software. Reported Earnings • Nov 23
Second quarter 2023 earnings released: ₹5.06 loss per share (vs ₹3.79 loss in 2Q 2022) Second quarter 2023 results: ₹5.06 loss per share (further deteriorated from ₹3.79 loss in 2Q 2022). Revenue: ₹755.6m (down 21% from 2Q 2022). Net loss: ₹361.2m (loss widened 35% from 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Annuncio • Nov 17
NITCO Limited to Report Q2, 2023 Results on Nov 22, 2022 NITCO Limited announced that they will report Q2, 2023 results on Nov 22, 2022 Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 2 non-independent directors. Additional Non-Executive Independent Director Ajay Bakshi was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Nov 09
NITCO Limited Announces Executive Changes NITCO Limited announced that during previous two months, three Directors of the company Mr. Prakash Iyer (DIN: 00956349) - Additional Independent Director, Mr. Manish Puri (DIN: 02615918) - Independent Director, Mrs. Bharti Dhar (DIN: 00442471) - Independent Director had tendered resignation from the Board of Directors and Mr. Vivek Grover (DIN: 00421980) and Mr. Rakesh Kashimpuria (DIN: 08816226) ceased to be Nominee Directors due to withdrawal of nomination by JMFARC. Owing to which, they ceased to be a part of Board Committees as well. The Company have appointed Mr. Ajay Bakshi (DIN: 07038685) and Ms. Poonam Talwar (DIN: 00043300) as an Additional Independent Director and an Additional Non-Executive Director respectively. Currently, there are three Directors on the Board of the Company. The Company is in process of appointing new Directors and form the Board Committees within the time line prescribed in the law. Annuncio • Oct 20
NITCO Limited Announces Director Appointments NITCO Limited announced at the board meeting held on October 19, 2022 that the company approved Appointment of Ms. Poonam Talwar as an Additional Non-Executive Director of the Company with effect from October 19, 2022 and Mr. Ajay Bakshi, as an Additional Director (Non-Executive and Independent) with effect from October 19, 2022 for a term of 5 consecutive years with effect from October 19, 2022 to October 18, 2027. Ms. Poonam Talwar is Commerce Graduate, holds degree of LLB and Diploma in Fashion Designing. She has been working actively in the family business since 1999. She took over a management of sick unit manufacturing Mosaic Tiles and turned it around to a profitable one and started 2 more factories in Mumbai manufacturing Mosaic Tiles, Chequered Tiles and Interlocking Pavers. She is independently looking after the operations of Mosaic, Chequered and Interlocking Pavers in Bangalore and Hyderabad and started her own business of constructing and renting out industrial sheds in Hyderabad and Bangalore. She also undertook a Construction Project in New Delhi, independently. She was also actively involved in the Company, looking after the sales of certain clients, administration and making strategies to control expenses few years back. Mr. Ajay Bakshi is a Mechanical Engineer. He also has a Master's degree in Business Administration and completed his PHD in Philosophy, specializing in Human Resources and Organizational Development. Mr. Ajay Bakshi is a Senior HR thought leader, Ex CHRO, Independent Board, Executive Coach at C suite levels and Business Leader with extensive experience in HR, Sales and Business leadership with an experience of 30 plus years in transforming organizations through people. He has contributed as a CHRO and Leadership management Team member in various organizations like Vodafone Global Services(India), Prudential Global Services India and Sterlite Technologies and Power. He has international experience with Prudential Plc as Head of Talent for UK & Europe where he was responsible for the Talent management strategy design and implementation including Development centers forPrudential Plc across UK, Hong Kong, India, Malaysia, Vietnam and Singapore. He has been Head HR for Sterlite Technologies and was instrumental in the successful integration and merger of the Telecom cables and Power Transmission business of the Sterlite group. In 2022, Mr. Ajay Bakshi was appointed as the President and Board Director of Intelligent Leadership Executive Coaching. Annuncio • Oct 14
NITCO Limited Announces Resignation of Shirish Suvagia, Chief Financial Officer NITCO Limited announced that Mr. Shirish Suvagia, Chief Financial Officer has vide letter dated October 12, 2022 tendered his resignation with immediate effect and he was relieved from his duties as a Chief Financial Officer (Key Managerial Personnel) with effect from close of business hours on October 12, 2022. Annuncio • Sep 23
NITCO Limited Announces Resignation of Bharti Dhar as Independent Non-Executive Director NITCO Limited announced that Bharti Dhar, Independent Non-Executive Director has vide letter dated September 21, 2022 tendered her resignation with immediate effect as Covid has adversely impacted his HR services business and he need to build it back. That is demanding a lot of time from him, so he will not be able to allocate any time or attention to NITCO and hence need to close this assignment. Annuncio • Sep 21
NITCO Limited Announces Change in Directorate NITCO Limited announced that Mr. Vivek Grover and Mr. Rakesh Kashimpuria ceased to be a Nominee Directors of the Company with effect from September 19, 2022 pursuant to withdrawal of their nomination by JM Financial Asset Reconstruction Company Limited. Annuncio • Sep 09
NITCO Limited, Annual General Meeting, Sep 30, 2022 NITCO Limited, Annual General Meeting, Sep 30, 2022, at 11:00 Indian Standard Time. Agenda: To consider and adopt the Audited Standalone Financial Statements of the Company for the Financial Year ended March 31, 2022 together with the Reports of Board of Directors and the Auditors thereon; to consider the Audited Consolidated Financial Statements of the Company for the Financial Year ended March 31, 2022, together with the Report of the Auditors thereon; To appoint a Director in place of Mr. Vivek Talwar who retires by rotation and being eligible, offers himself, for re-appointment; to consider Appointment of M M Nissim & Co LLP - Chartered Accountants as the Statutory Auditors of the Company; and to consider other matters. Board Change • Aug 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Manish Puri was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Aug 20
NITCO Limited Announces Resignation of Prakash Iyer, Additional Independent Non-Executive Director NITCO Limited announced that Mr. Prakash Iyer, Additional Independent Non-Executive Director has vide letter dated August 18, 2022 tendered his resignation with immediate effect. The letter mentioning the reasons for his resignation is enclosed. Mr. Prakash Iyer has confirmed that there is no other material reason other than the one mentioned in his letter. In the Board Meeting held on August 8, 2022, the Board of Directors had considered and recommended to shareholders, appointment of Mr. Prakash Iyer (DIN: 00956349) as an Independent Non-Executive Director of the Company for a term of 5 years effective December 31, 2021 till December 30, 2026. In light of the above resignation received from Mr. Prakash Iyer, the agenda for his appointment will not be placed in the upcoming Annual General Meeting. Reported Earnings • Aug 09
First quarter 2023 earnings released: ₹5.31 loss per share (vs ₹4.44 loss in 1Q 2022) First quarter 2023 results: ₹5.31 loss per share (down from ₹4.44 loss in 1Q 2022). Revenue: ₹927.5m (up 15% from 1Q 2022). Net loss: ₹385.1m (loss widened 22% from 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Annuncio • Jul 26
NITCO Limited to Report Q1, 2023 Results on Aug 08, 2022 NITCO Limited announced that they will report Q1, 2023 results at 12:15 PM, Indian Standard Time on Aug 08, 2022 Annuncio • Jul 14
NITCO Limited Appoints Ms. Geeta Karira as Company Secretary, Compliance Officer and Key Managerial Personnel, with Effect from July 14, 2022 NITCO Limited appointed Ms. Geeta Karira as Company Secretary, Compliance Officer and Key Managerial Personnel, with effect from July 14, 2022. Ms. Geeta Karira is B.Com and Associate Member of the Institute of Company Secretaries of India, New Delhi. She has an experience in handling secretarial compliances of listed public company, private companies and LLPs. Reported Earnings • May 30
Full year 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2022 results: ₹17.50 loss per share (up from ₹18.18 loss in FY 2021). Revenue: ₹4.18b (up 27% from FY 2021). Net loss: ₹1.26b (loss narrowed 3.4% from FY 2021). Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Annuncio • May 21
NITCO Limited to Report Q4, 2022 Results on May 26, 2022 NITCO Limited announced that they will report Q4, 2022 results on May 26, 2022 Annuncio • Apr 13
NITCO Limited Announces Appoints Mr. Shirish Suvagia as Chief Financial Officer NITCO Limited announces that the Board of Directors of the Company at its Meeting held on April 12, 2022, has appointed Mr. Shirish Suvagia to hold the office of the Chief Financial Officer and Key Managerial Personnel (KMP) of the Company with effect from April 12, 2022. Reported Earnings • Feb 10
Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2022 results: ₹4.14 loss per share (down from ₹3.12 loss in 3Q 2021). Revenue: ₹1.21b (up 13% from 3Q 2021). Net loss: ₹305.2m (loss widened 39% from 3Q 2021). Revenue exceeded analyst estimates by 3.2%. Earnings per share (EPS) missed analyst estimates. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Annuncio • Feb 01
NITCO Limited to Report Q3, 2022 Results on Feb 09, 2022 NITCO Limited announced that they will report Q3, 2022 results on Feb 09, 2022 Board Change • Jan 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director Manish Puri was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Annuncio • Dec 13
NITCO Limited Announces the Launch of Its New Tile Collection GIBRALTOR NITCO Limited announced the launch of its new tile collection "GIBRALTOR". Launch of a new collection: In line with global fashion trends, NITCO e-launched an industry-first premium collection "GIBRALTOR" comprising 11 pastel shades of "Pop Up" colours (600 em X1200 em) across its dealerships on December 9, 2021. The full body matte porcelain Technical Tiles are suitable for floor as well as wall applications, and have been highly appreciated in the architect community. NITCO has also launched 5 new designs (600mm X 600mm) under its Full Body Vitrified portfolio for the retail segment. These comprise 4 "Salt and Pepper" designs and 1 Solid Kota Stone type colour. These products are popular in the commercial segment, including offices, shops, malls, airports, hospitals, hotels, educational institutes etc. The new launches will be available at over 100 dealerships and retail outlets across the country, and are expected to drive volumes of NITCO products. Reported Earnings • Aug 12
First quarter 2022 earnings released: ₹4.44 loss per share (vs ₹4.84 loss in 1Q 2021) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2022 results: Revenue: ₹808.3m (up 223% from 1Q 2021). Net loss: ₹315.6m (loss narrowed 14% from 1Q 2021). Executive Departure • Jul 20
Non-Executive & Independent Director Siddharth Kothari has left the company On the 14th of July, Siddharth Kothari's tenure as Non-Executive & Independent Director ended after 2.0 years in the role. We don't have any record of a personal shareholding under Siddharth's name. Siddharth is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.33 years, which is considered inexperienced in the Simply Wall St Risk Model. Reported Earnings • Jun 13
Full year 2021 earnings released The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2021 results: Revenue: ₹3.30b (down 30% from FY 2020). Net loss: ₹1.31b (loss widened 175% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 15
New 90-day low: ₹22.20 The company is down 13% from a price of ₹25.40 on 15 December 2020. Underperformed the Indian market, which is up 14% over the last 90 days. Lagged the Building industry, which is up 48% over the same period. Reported Earnings • Feb 12
Third quarter 2021 earnings released: ₹3.12 loss per share (vs ₹3.83 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: ₹1.07b (down 7.6% from 3Q 2020). Net loss: ₹219.1m (loss narrowed 25% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Annuncio • Jan 26
NITCO Limited to Report Q3, 2020 Results on Feb 11, 2021 NITCO Limited announced that they will report Q3, 2020 results on Feb 11, 2021 Is New 90 Day High Low • Jan 08
New 90-day high: ₹28.35 The company is up 61% from its price of ₹17.65 on 09 October 2020. The Indian market is up 20% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Building industry, which is up 41% over the same period. Is New 90 Day High Low • Dec 01
New 90-day high: ₹21.75 The company is up 18% from its price of ₹18.50 on 02 September 2020. The Indian market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Building industry, which is up 35% over the same period. Annuncio • Sep 14
NITCO Forays into US Tile Market NITCO has been the only and the first Indian tile brand to carve an entry as the preferred tile brand supplier for one of the large counter retail entity in US. It has secured the large export business order on the strength of its design and quality, garnering an entry across more than 1000 stores in US. The customer is a US based large-counter retail entity specializing in sales of hardware, home improvement and seasonal interior decoration products catering mainly to the home improvement professionals, construction and Do-It-Yourself (DIY) concept clients. It operates retail chain stores across US and Canada and is one amongst the top five in the Home improvement Retail industry in US and the world. NITCO will be completing despatch of the initial order for $1.2 million (with a possible upside of another $1.8 million by fiscal year 2022) for supply of Porcelain tiles during the current quarter with due compliance under RESA (Retail ethical sourcing assessment) and CTPAT (Custom Trade Partnership against Terrorism). Accomplishment of this export order reaffirms NITCO's strength in creative design, innovation and as a trendsetter brand. The team visited Italian quarries to procure natural stones and created designs, scanning from the right colour/type of stones that led to the success of the order. This will enable NITCO to establish a strong presence in US market and tap other customers in the region. Annuncio • Aug 31
Ashwin Babu Patel, Viral Chuni Ghodasara and Shekhar Rati Adroja singed agreement to acquire unknown majority stake in New Vardhman Vitrified Private Limited from NITCO Limited (BSE:532722) for INR 27.5 million. Ashwin Babu Patel, Viral Chuni Ghodasara and Shekhar Rati Adroja singed agreement to acquire unknown majority stake in New Vardhman Vitrified Private Limited from NITCO Limited (BSE:532722) for INR 27.5 million on August 29, 2020. Post completion, New Vardhman Vitrified Private Limited shall cease to be a subsidiary of NITCO Limited. For the financial year ended March 31, 2020, New Vardhman Vitrified Private Limited has reported turnover of INR 62.8 million and negative net worth of INR 103.7 million. Completion is expected to take place within 180 days from the date of agreement. Annuncio • Jun 21
NITCO Limited to Report Fiscal Year 2020 Results on Jun 26, 2020 NITCO Limited announced that they will report fiscal year 2020 results on Jun 26, 2020 
