New Risk • Jun 04
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₹479m (US$5.0m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Profit margins are more than 30% lower than last year (2.2% net profit margin). Revenue is less than US$5m (₹479m revenue, or US$5.0m). Market cap is less than US$100m (₹1.92b market cap, or US$20.1m). Reported Earnings • May 31
Full year 2026 earnings released: EPS: ₹1.03 (vs ₹4.71 in FY 2025) Full year 2026 results: EPS: ₹1.03 (down from ₹4.71 in FY 2025). Revenue: ₹478.9m (down 37% from FY 2025). Net income: ₹10.6m (down 78% from FY 2025). Profit margin: 2.2% (down from 6.3% in FY 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 27
Nitiraj Engineers Limited to Report Q4, 2026 Results on May 29, 2026 Nitiraj Engineers Limited announced that they will report Q4, 2026 results on May 29, 2026 Reported Earnings • Feb 17
Third quarter 2026 earnings released: EPS: ₹0.38 (vs ₹6.35 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.38 (down from ₹6.35 in 3Q 2025). Revenue: ₹113.1m (down 70% from 3Q 2025). Net income: ₹3.94m (down 94% from 3Q 2025). Profit margin: 3.5% (down from 18% in 3Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 42% per year whereas the company’s share price has increased by 38% per year. Announcement • Feb 10
Nitiraj Engineers Limited to Report Q3, 2026 Results on Feb 13, 2026 Nitiraj Engineers Limited announced that they will report Q3, 2026 results on Feb 13, 2026 Buy Or Sell Opportunity • Sep 15
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 10% to ₹223. The fair value is estimated to be ₹180, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 28% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹216, the stock trades at a trailing P/E ratio of 36x. Average trailing P/E is 40x in the Electronic industry in India. Total returns to shareholders of 171% over the past three years. Declared Dividend • Sep 03
Dividend of ₹1.50 announced Dividend of ₹1.50 is the same as last year. Ex-date: 16th September 2025 Payment date: 23rd October 2025 Dividend yield will be 0.8%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (32% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 26% per year over the past 8 years. However, payments have been volatile during that time. Earnings per share has grown by 36% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Sep 01
Nitiraj Engineers Limited, Annual General Meeting, Sep 23, 2025 Nitiraj Engineers Limited, Annual General Meeting, Sep 23, 2025, at 13:00 Indian Standard Time. Reported Earnings • Aug 19
First quarter 2026 earnings released: ₹0.32 loss per share (vs ₹1.61 loss in 1Q 2025) First quarter 2026 results: ₹0.32 loss per share (improved from ₹1.61 loss in 1Q 2025). Revenue: ₹105.4m (up 147% from 1Q 2025). Net loss: ₹3.24m (loss narrowed 80% from 1Q 2025). Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 35% per year, which means it is significantly lagging earnings growth. New Risk • Jun 27
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 6.2% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (6.2% net profit margin). Market cap is less than US$100m (₹2.10b market cap, or US$24.6m). Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹278, the stock trades at a trailing P/E ratio of 23.1x. Average trailing P/E is 38x in the Electronic industry in India. Total returns to shareholders of 293% over the past three years. Recent Insider Transactions • Mar 19
Whole-Time Director recently sold ₹5.7m worth of stock On the 12th of March, Hung Sin Huanyi sold around 15k shares on-market at roughly ₹391 per share. This transaction amounted to 1.7% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Valuation Update With 7 Day Price Move • Mar 07
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₹333, the stock trades at a trailing P/E ratio of 27.8x. Average trailing P/E is 38x in the Electronic industry in India. Total returns to shareholders of 423% over the past three years. Valuation Update With 7 Day Price Move • Feb 19
Investor sentiment improves as stock rises 45% After last week's 45% share price gain to ₹309, the stock trades at a trailing P/E ratio of 25.7x. Average trailing P/E is 42x in the Electronic industry in India. Total returns to shareholders of 420% over the past three years. Reported Earnings • Feb 13
Third quarter 2025 earnings released: EPS: ₹6.35 (vs ₹2.09 in 3Q 2024) Third quarter 2025 results: EPS: ₹6.35 (up from ₹2.09 in 3Q 2024). Revenue: ₹371.7m (up 84% from 3Q 2024). Net income: ₹65.1m (up 204% from 3Q 2024). Profit margin: 18% (up from 11% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 110% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth. Board Change • Jan 21
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Non-Executive Director Pradeep Shah was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Dec 04
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹244, the stock trades at a trailing P/E ratio of 31.6x. Average trailing P/E is 56x in the Electronic industry in India. Total returns to shareholders of 267% over the past three years. Reported Earnings • Nov 14
Second quarter 2025 earnings released: EPS: ₹0.02 (vs ₹1.57 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.02 (down from ₹1.57 in 2Q 2024). Revenue: ₹127.7m (down 20% from 2Q 2024). Net income: ₹202.0k (down 99% from 2Q 2024). Profit margin: 0.2% (down from 10% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has only increased by 64% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Nov 13
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹200, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 52x in the Electronic industry in India. Total returns to shareholders of 322% over the past three years. Buy Or Sell Opportunity • Nov 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 19% to ₹224. The fair value is estimated to be ₹281, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 73%. New Risk • Nov 08
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 7.7% 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: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.7% average weekly change). Market cap is less than US$100m (₹2.43b market cap, or US$28.8m). Buy Or Sell Opportunity • Oct 25
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to ₹223. The fair value is estimated to be ₹290, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 73%. Buy Or Sell Opportunity • Sep 10
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to ₹222. The fair value is estimated to be ₹280, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 73%. Announcement • Sep 07
Nitiraj Engineers Limited Recommends Dividend, Payable on and from September 30, 2024 Nitiraj Engineers Limited announced that the Board had recommended a dividend of INR 1.50 per equity share of INR 10 each @15% subject to approval by the shareholders of the company at the 25th AGM. The Company has fixed September 17, 2024, as the Record Date for determining entitlement of Members to receive the dividend for the financial year ended March 31, 2024, if declared at the 25th AGM. The payment of such dividend shall be subject to deduction of tax at source, as applicable and will be made on and from September 30, 2024. Announcement • Sep 04
Nitiraj Engineers Limited, Annual General Meeting, Sep 24, 2024 Nitiraj Engineers Limited, Annual General Meeting, Sep 24, 2024, at 12:30 Indian Standard Time. Buy Or Sell Opportunity • Aug 22
Now 23% undervalued Over the last 90 days, the stock has risen 4.6% to ₹215. The fair value is estimated to be ₹279, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 73%. Valuation Update With 7 Day Price Move • Aug 21
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹226, the stock trades at a trailing P/E ratio of 24.4x. Average trailing P/E is 46x in the Electronic industry in India. Total returns to shareholders of 403% over the past three years. Reported Earnings • Aug 15
First quarter 2025 earnings released: ₹1.61 loss per share (vs ₹0.85 profit in 1Q 2024) First quarter 2025 results: ₹1.61 loss per share (down from ₹0.85 profit in 1Q 2024). Revenue: ₹45.3m (down 61% from 1Q 2024). Net loss: ₹16.5m (down 289% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 82% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jun 13
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 0.6% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₹2.57b market cap, or US$30.8m). Reported Earnings • May 29
Full year 2024 earnings released: EPS: ₹11.74 (vs ₹0.22 loss in FY 2023) Full year 2024 results: EPS: ₹11.74 (up from ₹0.22 loss in FY 2023). Revenue: ₹1.01b (up 120% from FY 2023). Net income: ₹120.4m (up ₹122.7m from FY 2023). Profit margin: 12% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 59% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹230, the stock trades at a trailing P/E ratio of 51x. Average trailing P/E is 55x in the Electronic industry in India. Total returns to shareholders of 337% over the past three years. Valuation Update With 7 Day Price Move • May 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹207, the stock trades at a trailing P/E ratio of 45.9x. Average trailing P/E is 56x in the Electronic industry in India. Total returns to shareholders of 411% over the past three years. Board Change • Feb 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Deepam Shah 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. Reported Earnings • Feb 06
Third quarter 2024 earnings released: EPS: ₹2.09 (vs ₹0.35 in 3Q 2023) Third quarter 2024 results: EPS: ₹2.09 (up from ₹0.35 in 3Q 2023). Revenue: ₹204.2m (up 80% from 3Q 2023). Net income: ₹21.4m (up ₹17.8m from 3Q 2023). Profit margin: 11% (up from 3.1% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 53% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 31
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹147, the stock trades at a trailing P/E ratio of 53.3x. Average trailing P/E is 52x in the Electronic industry in India. Total returns to shareholders of 178% over the past three years. Announcement • Sep 05
Nitiraj Engineers Limited, Annual General Meeting, Sep 25, 2023 Nitiraj Engineers Limited, Annual General Meeting, Sep 25, 2023, at 12:30 Indian Standard Time. Agenda: To receive, consider and adopt Standalone and Consolidated Audited Financial statements including Profit and Loss Account Balance Sheet, for the year ended on 31stMarch,2023 along with Directors Report and Audited Report of the Company, and to consider other matters. Reported Earnings • Aug 16
First quarter 2024 earnings released: EPS: ₹0.85 (vs ₹0.29 loss in 1Q 2023) First quarter 2024 results: EPS: ₹0.85 (up from ₹0.29 loss in 1Q 2023). Revenue: ₹119.4m (up 59% from 1Q 2023). Net income: ₹8.72m (up ₹11.7m from 1Q 2023). Profit margin: 7.3% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Reported Earnings • Jun 03
Full year 2023 earnings released: ₹0.22 loss per share (vs ₹3.44 loss in FY 2022) Full year 2023 results: ₹0.22 loss per share (improved from ₹3.44 loss in FY 2022). Revenue: ₹465.5m (up 18% from FY 2022). Net loss: ₹2.30m (loss narrowed 94% from FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 94 percentage points per year, which is a significant difference in performance. Announcement • Jun 01
Nitiraj Engineers Limited to Report Q4, 2023 Results on May 30, 2023 Nitiraj Engineers Limited announced that they will report Q4, 2023 results on May 30, 2023 Reported Earnings • Jan 25
Third quarter 2023 earnings released: EPS: ₹0.35 (vs ₹0.08 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.35 (up from ₹0.08 in 3Q 2022). Revenue: ₹113.6m (down 7.9% from 3Q 2022). Net income: ₹3.57m (up 352% from 3Q 2022). Profit margin: 3.1% (up from 0.6% in 3Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 99 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 16
Second quarter 2023 earnings released: ₹0.28 loss per share (vs ₹0.08 loss in 2Q 2022) Second quarter 2023 results: ₹0.28 loss per share (further deteriorated from ₹0.08 loss in 2Q 2022). Revenue: ₹159.3m (up 78% from 2Q 2022). Net loss: ₹2.83m (loss widened 229% from 2Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Announcement • Sep 07
Nitiraj Engineers Limited, Annual General Meeting, Sep 29, 2022 Nitiraj Engineers Limited, Annual General Meeting, Sep 29, 2022, at 12:30 Indian Standard Time. Agenda: To receive, consider and adopt Standalone and Consolidated Audited Financial statements including Profit and Loss Account Balance Sheet, for the year ended on 31 March, 2022 along with Directors Report and Audited Report of the Company; and TO RE-APPOINT ROTATIONAL DIRECTOR. Reported Earnings • Aug 15
First quarter 2023 earnings released: ₹0.29 loss per share (vs ₹0.40 loss in 1Q 2022) First quarter 2023 results: ₹0.29 loss per share (up from ₹0.40 loss in 1Q 2022). Revenue: ₹75.3m (up 49% from 1Q 2022). Net loss: ₹3.02m (loss narrowed 27% from 1Q 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
Full year 2022 earnings released: ₹3.44 loss per share (vs ₹3.45 profit in FY 2021) Full year 2022 results: ₹3.44 loss per share (down from ₹3.45 profit in FY 2021). Revenue: ₹402.1m (down 26% from FY 2021). Net loss: ₹35.3m (down 200% from profit in FY 2021). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Reported Earnings • Feb 16
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.08 (down from ₹3.53 in 3Q 2021). Revenue: ₹123.3m (down 37% from 3Q 2021). Net income: ₹790.0k (down 98% from 3Q 2021). Profit margin: 0.6% (down from 19% in 3Q 2021). The decrease in margin was driven by lower revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 45% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment deteriorated over the past week After last week's 16% share price decline to ₹63.30, the stock trades at a trailing P/E ratio of 22.6x. Average trailing P/E is 38x in the Electronic industry in India. Total returns to shareholders of 57% over the past three years. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 15% share price gain to ₹74.15, the stock trades at a trailing P/E ratio of 26.4x. Average trailing P/E is 31x in the Electronic industry in India. Total returns to shareholders of 89% over the past three years. Valuation Update With 7 Day Price Move • Nov 25
Investor sentiment improved over the past week After last week's 24% share price gain to ₹59.50, the stock trades at a trailing P/E ratio of 21.2x. Average trailing P/E is 28x in the Electronic industry in India. Total returns to shareholders of 43% over the past three years. Valuation Update With 7 Day Price Move • Oct 08
Investor sentiment improved over the past week After last week's 15% share price gain to ₹50.00, the stock trades at a trailing P/E ratio of 14.1x. Average trailing P/E is 25x in the Electronic industry in India. Total returns to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment improved over the past week After last week's 16% share price gain to ₹48.40, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 24x in the Electronic industry in India. Total returns to shareholders of 8.0% over the past three years. Reported Earnings • Aug 21
First quarter 2022 earnings released: ₹0.40 loss per share (vs ₹0.51 loss in 1Q 2021) The company reported a soft first quarter result with weaker revenues and control over costs, although losses reduced. First quarter 2022 results: Revenue: ₹50.5m (down 29% from 1Q 2021). Net loss: ₹4.11m (loss narrowed 21% from 1Q 2021). Valuation Update With 7 Day Price Move • May 21
Investor sentiment improved over the past week After last week's 18% share price gain to ₹47.80, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 22x in the Electronic industry in India. Negligible returns to shareholders over past three years. Recent Insider Transactions • Dec 22
Chairman & MD recently bought ₹920k worth of stock On the 14th of December, Rajesh Bhatwal bought around 18k shares on-market at roughly ₹51.10 per share. In the last 3 months, they made an even bigger purchase worth ₹1.7m. Rajesh has been a buyer over the last 12 months, purchasing a net total of ₹2.6m worth in shares. Valuation Update With 7 Day Price Move • Dec 14
Investor sentiment improved over the past week After last week's 16% share price gain to ₹55.40, the stock is trading at a trailing P/E ratio of 23.6x, up from the previous P/E ratio of 20.4x. This compares to an average P/E of 21x in the Electronic industry in India. Total returns to shareholders over the past three years are 1.0%. Recent Insider Transactions • Dec 07
Chairman & MD recently bought ₹1.7m worth of stock On the 4th of December, Rajesh Bhatwal bought around 33k shares on-market at roughly ₹51.28 per share. This was the largest purchase by an insider in the last 3 months. This was Rajesh's only on-market trade for the last 12 months. Announcement • Sep 19
Nitiraj Engineers Limited Announces Partially Resumption of its Operation Nitiraj Engineers Limited announced that the company has partially resumed its operation after obtaining the permissions from the concerned authorities as per the directions issued by the ministry of home affairs and maharashtra government. These operations are being conducted in accordance with the guidelines and approvals.