Nitiraj Engineers Q2 FY25 Share Price & Earnings Call Analysis
- Market cap
- ₹199 Cr
- P/E
- 82.86
- ROE
- 0.52%
- Price to sales
- 3.63
- Debt to equity
- 0.00
- 52W high / low
- ₹234 / ₹172
- Sales growth (5Y)
- -2.77%
- EBITDA margin
- 10.01%
- Net profit margin
- 0.93%
- Promoter holding
- 69.28%
- Sales (last year)
- ₹55 Cr
Incorporated in 1989, Nitiraj Engineers Ltd manufactures and sells Electronic Weighing Scales, Currency Counting Machines, Taxi Fare Meters, etc.[1]
Guidance scorecard · Q2 FY25 call
What Nitiraj Engineer's management guided
and where it ranks in Consumer Durables
RevenueQ2 FY25 call
20–40%- Nitiraj Engineers Limited targets a 20% to 25% CAGR in revenue over the next 3-4 years.
- Management is confident about achieving expected growth through new product launches and development efforts.
- Sales for FY24 were about INR 100 crores with EBITDA around INR 18 crores; similar or better performance expected in FY25 if top line is maintained.
- Expansion of factory space by ~45,000 sq. ft. supports scaling business up to roughly INR 150 crores turnover without further infrastructure expansion.
- Export efforts are being ramped up, with initial orders expected from Germany (~USD 30,000) and existing markets in Middle East, Nepal, SAARC, and Africa.
2 more points from Nitiraj Engineer's call on revenue
Create a free account to keep reading this call
MarginsQ2 FY25 call
FlatSee what Nitiraj Engineer said on margins — free account, 30 seconds.
CapexQ2 FY25 call
Planned- In the current year, Nitiraj Engineers invested roughly INR 5 crores to expand the factory floor area by about 45,000 to 50,000 square feet, including installation of industrial lifts, conveyors, and staircases to support future business growth.
- The company expects no further major building or infrastructure expansion until turnover reaches approximately INR 150 crores.
- Machinery investments are made on a need basis; expenditures vary (e.g., INR 50 lakhs to 1.5 crores) depending on automation and equipment needed to increase speed and reduce labor costs.
2 more points from Nitiraj Engineer's call on capex
Create a free account to keep reading this call
FundraisingQ2 FY25 call
See what Nitiraj Engineer said on fundraising — free account, 30 seconds.
Order bookQ2 FY25 call
Rising- As of November 28, 2024, Nitiraj Engineers is manufacturing around 6,000 machines daily, executing a large order.
- Currently, the company is highly booked from August to January, with government segment orders extending bookings till March.
- April to June is typically a lower quarter for orders.
- They have an ongoing institutional order worth over INR 30 crores plus GST to be completed by December end.
- Post completion, the company aims to secure bigger orders for the last quarter.
2 more points from Nitiraj Engineer's call on the order book
Create a free account to keep reading this call
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Consumer Durables
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
Portfolio builder
Build your portfolio
from the top-ranked stocks
- 1. Pick 3–15 stocks
- 2. Choose large, mid or small cap and your sectors
- 3. Get a portfolio built from the rankings
Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Consumer Durables companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹151 Cr | 13.8 | |
| 2 | 40%+ | Up 0–2% | ₹2,267 Cr | 12.2 | |
| 3 | 40%+ | Up 0–2% | ₹1,934 Cr | 16.9 | |
| 4 | 40%+ | Flat | ₹2,338 Cr | 39.6 | |
| 5 | 40%+ | Flat | ₹1,975 Cr | 20.8 | |
| 6 | 40%+ | Flat | ₹528 Cr | 16.7 |
Sign up free to see every company in the sector ranking and track Nitiraj Engineer.
Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables rankingFinancials of Nitiraj Engineer
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Nitiraj Engineer
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 11.36 | 11.37 | 11.71 | 15.91 | 20.25 | 52.58 | 4.27 | 12.56 | 37.08 | 22.61 | 10.54 | 16.39 | 11.31 |
| Expenses + | 10.28 | 10.40 | 9.91 | 13.15 | 16.68 | 42.32 | 5.89 | 11.86 | 27.47 | 21.86 | 10.52 | 13.68 | 10.20 |
| Operating Profit | 1.08 | 0.97 | 1.80 | 2.76 | 3.57 | 10.26 | -1.62 | 0.70 | 9.61 | 0.75 | 0.02 | 2.71 | 1.11 |
| OPM % | 9.51% | 8.53% | 15.37% | 17.35% | 17.63% | 19.51% | -37.94% | 5.57% | 25.92% | 3.32% | 0.19% | 16.53% | 9.81% |
| Other Income + | 0.00 | 0.17 | 0.23 | 0.09 | 0.17 | 0.50 | 0.26 | 0.21 | 0.09 | 0.35 | 0.36 | 0.40 | 0.34 |
| Interest | 0.08 | 0.04 | 0.05 | 0.00 | 0.01 | 0.02 | 0.03 | 0.01 | 0.07 | 0.10 | 0.00 | 0.03 | 0.01 |
| Depreciation | 0.92 | 0.96 | 0.81 | 0.85 | 0.87 | 0.83 | 0.81 | 0.86 | 0.93 | 0.91 | 0.81 | 0.91 | 0.92 |
| Profit before tax | 0.08 | 0.14 | 1.17 | 2.00 | 2.86 | 9.91 | -2.20 | 0.04 | 8.70 | 0.09 | -0.43 | 2.17 | 0.52 |
| Tax % | -250.00% | 214.29% | 24.79% | 20.00% | 25.17% | 25.13% | -25.00% | 50.00% | 25.17% | 155.56% | -25.58% | 25.35% | 23.08% |
| Net Profit + | 0.28 | -0.17 | 0.87 | 1.61 | 2.14 | 7.42 | -1.65 | 0.02 | 6.51 | -0.06 | -0.32 | 1.63 | 0.39 |
| EPS in Rs | 0.27 | -0.17 | 0.85 | 1.57 | 2.09 | 7.24 | -1.61 | 0.02 | 6.35 | -0.06 | -0.31 | 1.59 | 0.38 |
Financials of Nitiraj Engineer
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 41.02 | 43.51 | 61.06 | 58.84 | 38.80 | 53.88 | 47.86 | 53.40 | 39.63 | 46.08 | 100.44 | 76.52 | 60.85 |
| Expenses + | 35.33 | 37.36 | 52.48 | 50.89 | 35.02 | 45.17 | 44.26 | 45.29 | 37.83 | 42.54 | 82.05 | 67.09 | 56.26 |
| Operating Profit | 5.69 | 6.15 | 8.58 | 7.95 | 3.78 | 8.71 | 3.60 | 8.11 | 1.80 | 3.54 | 18.39 | 9.43 | 4.59 |
| OPM % | 13.87% | 14.13% | 14.05% | 13.51% | 9.74% | 16.17% | 7.52% | 15.19% | 4.54% | 7.68% | 18.31% | 12.32% | 7.54% |
| Other Income + | 0.16 | 0.36 | 0.15 | 0.31 | 2.26 | 1.14 | 1.88 | 0.23 | -2.62 | 0.28 | 1.00 | 0.91 | 1.45 |
| Interest | 0.05 | 0.30 | 0.74 | 0.51 | 0.05 | 0.11 | 0.45 | 0.28 | 0.50 | 0.32 | 0.09 | 0.20 | 0.14 |
| Depreciation | 0.57 | 0.67 | 0.95 | 0.90 | 1.75 | 1.26 | 1.42 | 3.09 | 3.13 | 3.68 | 3.36 | 3.51 | 3.55 |
| Profit before tax | 5.23 | 5.54 | 7.04 | 6.85 | 4.24 | 8.48 | 3.61 | 4.97 | -4.45 | -0.18 | 15.94 | 6.63 | 2.35 |
| Tax % | 25.62% | 24.55% | 23.86% | 32.85% | 27.59% | 28.54% | 28.25% | 26.76% | -24.72% | 105.56% | 24.47% | 27.15% | |
| Net Profit + | 3.89 | 4.18 | 5.36 | 4.60 | 3.07 | 6.07 | 2.59 | 3.63 | -3.36 | -0.37 | 12.04 | 4.83 | 1.64 |
| EPS in Rs | 29.92 | 32.15 | 7.15 | 4.47 | 2.98 | 5.89 | 2.53 | 3.54 | -3.28 | -0.36 | 11.75 | 4.71 | 1.60 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 3.57% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 12.77% | 31.83% |
Financials of Nitiraj Engineer
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1.00 | 1.00 | 6.00 | 8.20 | 8.20 | 8.20 | 10.25 | 10.25 | 10.25 | 10.25 | 10.25 | 10.25 | 10.25 |
| Reserves | 22.87 | 27.06 | 25.63 | 49.42 | 52.61 | 58.68 | 59.22 | 61.39 | 57.97 | 57.33 | 69.41 | 72.56 | 73.87 |
| Borrowings + | 0.25 | 2.02 | 7.19 | 0.00 | 0.00 | 0.00 | 5.35 | 0.62 | 3.97 | 3.20 | 0.23 | 0.02 | 0.02 |
| Other Liabilities + | 8.58 | 6.98 | 6.33 | 7.55 | 3.28 | 5.99 | 3.89 | 7.25 | 5.56 | 9.04 | 10.63 | 10.17 | 9.95 |
| Total Liabilities | 32.70 | 37.06 | 45.15 | 65.17 | 64.09 | 72.87 | 78.71 | 79.51 | 77.75 | 79.82 | 90.52 | 93.00 | 94.09 |
| Fixed Assets + | 11.62 | 12.20 | 8.73 | 10.80 | 12.50 | 26.80 | 33.45 | 28.10 | 36.31 | 33.60 | 32.58 | 35.16 | 40.50 |
| CWIP | 0.00 | 0.50 | 0.00 | 0.00 | 0.00 | 0.00 | 4.08 | 11.15 | 1.60 | 1.60 | 1.60 | 1.86 | 0.00 |
| Investments | 0.01 | 0.01 | 1.01 | 22.01 | 24.69 | 2.01 | 2.01 | 2.39 | 2.46 | 1.49 | 12.30 | 18.72 | 4.27 |
| Other Assets + | 21.07 | 24.35 | 35.41 | 32.36 | 26.90 | 44.06 | 39.17 | 37.87 | 37.38 | 43.13 | 44.04 | 37.26 | 49.32 |
| Total Assets | 32.70 | 37.06 | 45.15 | 65.17 | 64.09 | 72.87 | 78.71 | 79.51 | 77.75 | 79.82 | 90.52 | 93.00 | 94.09 |
Financials of Nitiraj Engineer
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 5.69 | -2.94 | -4.29 | -4.96 | -2.80 | 15.86 | 9.90 | 1.54 | 1.45 | 0.71 | 17.87 | 14.20 |
| Cash from Investing Activity + | -1.25 | -1.76 | -0.80 | -2.97 | -3.33 | -15.61 | -10.90 | -4.01 | -5.69 | 0.50 | -12.84 | -12.44 |
| Cash from Financing Activity + | -1.02 | 1.48 | 5.17 | 14.82 | 0.00 | -0.06 | 4.62 | -0.46 | 2.96 | -1.19 | -3.20 | -1.83 |
| Net Cash Flow | 3.42 | -3.21 | 0.07 | 6.90 | -6.14 | 0.19 | 3.62 | -2.93 | -1.28 | 0.02 | 1.84 | -0.08 |
| Free Cash Flow | 4.44 | -4.70 | -5.09 | -7.59 | -5.09 | 1.51 | 0.42 | -2.47 | -3.45 | -0.12 | 15.54 | 7.86 |
| CFO/OP | 122% | -16% | -50% | -62% | -74% | 182% | 275% | 25% | 141% | 20% | 108% | 160% |
Financials of Nitiraj Engineer
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 61.57 | 52.09 | 62.23 | 33.62 | 39.42 | 104.19 | 74.13 | 60.35 | 75.98 | 51.64 | 46.48 | 32.25 |
| Inventory Days | 116.02 | 217.39 | 264.20 | 158.45 | 223.01 | 239.67 | 198.70 | 175.08 | 260.16 | 340.96 | 112.77 | 161.51 |
| Days Payable | 49.62 | 26.50 | 84.29 | 104.66 | 53.95 | 79.62 | 48.31 | 29.56 | 16.66 | 38.34 | 16.49 | 20.25 |
| Cash Conversion Cycle | 127.97 | 242.98 | 242.13 | 87.41 | 208.47 | 264.25 | 224.51 | 205.87 | 319.49 | 354.26 | 142.76 | 173.51 |
| Working Capital Days | 64.78 | 112.24 | 100.55 | 61.97 | 147.03 | 188.12 | 118.90 | 170.61 | 206.12 | 182.34 | 90.20 | 92.68 |
| ROCE % | 23.30% | 21.55% | 22.58% | 15.26% | 7.26% | 12.77% | 4.43% | 7.14% | -1.23% | 0.45% | 21.00% | 7.96% |
Guidance history
How Nitiraj Engineer's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q2 FY25 call → | 20–40% | Flat | Planned | — | Rising |
| Q2 FY22 call → | 10–20% | Flat | Planned | — | Flat |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Continue your research
What Nitiraj Engineer's management said in earlier quarters
Others in Consumer Durables this season
- Bata India (Q2 FY27)
Revenue from Operations for Q2 FY27: INR 8,618 million, up 7.5% YoY. Key investor presentation takeaways from Bata India Ltd's Q2 FY27 investor presentation — a
- RBZ Jewellers Lt (Q2 FY27)
Q2 FY27 Operational Revenue: INR 2,247 Mn, up 54.9% YoY (Q2 FY26: INR 1,451 Mn) (Page 32, 28) . Key investor presentation takeaways from RBZ Jewellers Ltd's Q2
- Global Surfaces (Q2 FY27)
Q2-FY27 revenue from operations was INR 599 Mn, a 10.7% increase YoY from INR 541 Mn in Q2-FY26 (Page 21). Key investor presentation takeaways from Global Surfa
- Kabra Jewels (Q2 FY27)
356 crore, up 14% YoY . Key results statement takeaways from Kabra Jewels Ltd's Q2 FY27 results statement — and how it ranks against sector peers.