NITIRAJ

Nitiraj Engineers Limited

Industrial electrical equipment and weighing scales manufacturer

Industrials›Capital Goods›Electrical Equipment›Other Electrical Equipment

nitiraj.net(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹203.51
Market cap
208 Cr
Stock P/E
86.5
P/B
2.54
Dividend yield
0.7%
ROE (FY23)
-0.3%
ROCE (FY23)
0.5%
Operating margin (FY23)
-0.3%
Debt / equity (FY23)
0.04
OCF / EBITDA (FY26)
-97.0%
OCF / EBITDA (3Y)
91.3%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Nitiraj Engineers makes industrial electrical equipment, including electronic weighing scales sold under the Phoenix brand, for customers in India, and also runs a remote pilot training organisation and an agricultural drone programme.

Company snapshot

30thBy market cap

Ranked among 32 companies in Other Electrical Equipment.

What we see

Positives
  • ✓91% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
  • ✗Net margin is negative — the company is spending more than it earns right now.
3 more signals from the filings.Sign in free to see them all

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales16 Cr20 Cr53 Cr4 Cr13 Cr37 Cr23 Cr11 Cr16 Cr11 Cr8 Cr19 Cr
Operating expenses (approx.)13 Cr17 Cr42 Cr6 Cr12 Cr27 Cr22 Cr11 Cr14 Cr10 Cr8 Cr17 Cr
EBITDA3 Cr4 Cr10 Cr-2 Cr0.70 Cr10 Cr0.74 Cr0.02 Cr3 Cr1 Cr-0.30 Cr2 Cr
OPM %17.4%17.6%19.5%-38.2%5.6%25.9%3.3%0.2%16.6%9.8%-3.7%10.4%
Other income0.09 Cr0.17 Cr0.50 Cr0.26 Cr0.21 Cr0.09 Cr0.35 Cr0.36 Cr0.40 Cr0.34 Cr0.37 Cr0.26 Cr
Interest0.0045 Cr0.01 Cr0.02 Cr0.03 Cr0.0066 Cr0.07 Cr0.10 Cr0.0035 Cr0.03 Cr0.0065 Cr0.02 Cr0.0094 Cr
Depreciation0.85 Cr0.87 Cr0.83 Cr0.81 Cr0.86 Cr0.93 Cr0.91 Cr0.81 Cr0.91 Cr0.92 Cr0.90 Cr0.82 Cr
Profit before tax2 Cr3 Cr10 Cr-2 Cr0.04 Cr9 Cr0.08 Cr-0.43 Cr2 Cr0.52 Cr-0.85 Cr1 Cr
Tax %19.9%25.1%25.2%25.2%43.9%25.2%165.7%24.8%25.2%24.2%25.3%26.7%
Net profit2 Cr2 Cr7 Cr-2 Cr0.02 Cr7 Cr-0.06 Cr-0.32 Cr2 Cr0.39 Cr-0.64 Cr1 Cr
EPS (₹)₹1.57₹2.09₹7.23₹-1.61₹0.02₹6.36₹-0.05₹-0.32₹1.59₹0.38₹-0.62₹1.00

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales53 Cr40 Cr46 Cr100 Cr77 Cr46 CrSign in free for the trailing twelve months
Operating expenses (approx.)45 Cr38 Cr43 Cr82 Cr67 Cr43 CrSign in free for the trailing twelve months
EBITDA8 Cr2 Cr4 Cr18 Cr9 Cr4 CrSign in free for the trailing twelve months
OPM %15.2%4.5%7.7%18.3%12.3%7.6%Sign in free for the trailing twelve months
Other income0.23 Cr0.58 Cr0.47 Cr1.00 Cr0.91 Cr1 CrSign in free for the trailing twelve months
Interest0.28 Cr0.50 Cr0.32 Cr0.09 Cr0.20 Cr0.06 CrSign in free for the trailing twelve months
Depreciation3 Cr3 Cr4 Cr3 Cr4 Cr4 CrSign in free for the trailing twelve months
Profit before tax5 Cr-4 Cr-0.18 Cr16 Cr7 Cr1 CrSign in free for the trailing twelve months
Tax %26.9%24.6%-105.8%24.5%27.1%24.9%Sign in free for the trailing twelve months
Net profit4 Cr-3 Cr-0.37 Cr12 Cr5 Cr1 CrSign in free for the trailing twelve months
EPS (₹)₹3.54₹-3.28₹-0.36₹11.74₹4.71₹1.03Sign in free for the trailing twelve months
Dividend payout %———0.0%31.8%145.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital10 Cr10 Cr10 Cr10 Cr10 Cr10 Cr
Reserves61 Cr58 Cr57 Cr69 Cr73 Cr72 Cr
Borrowings—4 Cr3 Cr0.12 Cr——
Other liabilities8 Cr6 Cr9 Cr11 Cr10 Cr11 Cr
Total liabilities80 Cr78 Cr80 Cr91 Cr93 Cr93 Cr
Fixed assets (net)27 Cr32 Cr30 Cr29 Cr32 Cr34 Cr
CWIP5 Cr—0 Cr0 Cr0 Cr2 Cr
Investments2 Cr2 Cr2 Cr12 Cr19 Cr8 Cr
Loans & advances——0.27 Cr0.17 Cr0.18 Cr0.17 Cr
Inventories14 Cr15 Cr23 Cr18 Cr16 Cr23 Cr
Trade receivables9 Cr8 Cr7 Cr13 Cr7 Cr5 Cr
Cash & bank2 Cr0.27 Cr0.29 Cr2 Cr2 Cr3 Cr
Other assets20 Cr19 Cr18 Cr16 Cr17 Cr18 Cr
Total assets80 Cr78 Cr80 Cr91 Cr93 Cr93 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity2 Cr1 Cr0.71 Cr18 Cr14 Cr-3 Cr
Cash from investing-4 Cr-6 Cr0.50 Cr-13 Cr-12 Cr6 Cr
Cash from financing-0.46 Cr3 Cr-1 Cr-3 Cr-2 Cr-2 Cr
Net cash flow-3 Cr-1 Cr0.02 Cr2 Cr-0.08 Cr1 Cr
Free cash flow (OCF − Capex)-2 Cr-4 Cr-0.15 Cr15 Cr8 Cr-9 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023
ROCE %7.1%-5.8%0.5%
ROE %5.0%-5.2%-0.3%
Debtor days607652
Inventory days177270300
Days payable301734
Cash conversion cycle208328318
OCF / EBITDA %102.6%81.4%20.0%
OCF / EBITDA % (3 years)——77.5%
Debt / equity0.000.050.04
Current ratio5.283.703.16
Net debt / EBITDA0.00—0.76