New Risk • Jul 31
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 7.6% 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 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 (7.6% 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 75% 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 15% After last week's 15% 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 480% over the past three years. Tillkännagivande • 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 Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹79.38, the stock trades at a trailing P/E ratio of 53.8x. Average trailing P/E is 24x in the Building industry in India. Total returns to shareholders of 317% 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. Tillkännagivande • 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). Reported Earnings • Nov 13
Second quarter 2026 earnings released: EPS: ₹0.04 (vs ₹4.82 loss in 2Q 2025) Second quarter 2026 results: EPS: ₹0.04 (up from ₹4.82 loss in 2Q 2025). Revenue: ₹1.11b (up 65% from 2Q 2025). Net income: ₹10.0m (up ₹356.1m from 2Q 2025). Profit margin: 0.9% (up from net loss in 2Q 2025). 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 61% per year, which means it is well ahead of earnings. Tillkännagivande • 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. Tillkännagivande • Sep 08
NITCO Limited, Annual General Meeting, Sep 29, 2025 NITCO Limited, Annual General Meeting, Sep 29, 2025, at 12:00 Indian Standard Time. Tillkännagivande • 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. Tillkännagivande • 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 Tillkännagivande • 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 Tillkännagivande • 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. Tillkännagivande • 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. Tillkännagivande • 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 Tillkännagivande • 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 Tillkännagivande • Aug 30
NITCO Limited, Annual General Meeting, Sep 20, 2024 NITCO Limited, Annual General Meeting, Sep 20, 2024, at 12:00 Indian Standard Time. Tillkännagivande • 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 Tillkännagivande • 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. Tillkännagivande • 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 Tillkännagivande • 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 Tillkännagivande • 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 09
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 8.9% 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 (8.9% 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 (₹1.32b market cap, or US$15.9m). Tillkännagivande • 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 6% per year, which means it has not declined as severely as earnings. Tillkännagivande • 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. Tillkännagivande • 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 19
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 (₹1.38b market cap, or US$16.8m). 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. Tillkännagivande • 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. Tillkännagivande • 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. 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. 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. 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. 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. Reported Earnings • May 30
Full year 2022 earnings released: ₹17.50 loss per share (vs ₹18.18 loss in FY 2021) 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). 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. Reported Earnings • Feb 10
Third quarter 2022 earnings: EPS in line with analyst expectations despite revenue beat 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%. Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has remained flat, which means it is well ahead of earnings. 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. 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 86 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Mar 15
New 90-day low: ₹22.15 The company is down 13% from a price of ₹25.60 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. Is New 90 Day High Low • Jan 08
New 90-day high: ₹28.20 The company is up 58% from its price of ₹17.80 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: ₹21.70 The company is up 15% from its price of ₹18.80 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.