National Fittings Ltd

₹ 142 3.27%

03 Jul 1:50 p.m.

About

Incorporated in 1993, National Fittings Ltd manufactures spheroidal graphite pipe fittings, stainless steel fittings and stainless steel ball valves

Key Points

Business Overview:^[1]
Company is an export oriented ISO 9001 certified manufacturer of quality Piping components and Pumps for industrial and non-industrial applications. It operates multiple foundries including an investment casting foundry utilizing lost wax process and an exclusive supply source for its entire casting requirements. Company exports these products mainly to Middle East and also to United States of America, Europe, South America and Australia

Website BSE

Market Cap ₹ 129 Cr.
Current Price ₹ 142
High / Low ₹ 195 / 87.0
Stock P/E 22.1
Book Value ₹ 65.3
Dividend Yield 1.05 %
ROCE 12.4 %
ROE 10.2 %
Face Value ₹ 10.0

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Pros

Company has reduced debt.
Company has been maintaining a healthy dividend payout of 40.7%

Cons

The company has delivered a poor sales growth of 5.69% over past five years.
Promoter holding is low: 34.0%
Company has a low return on equity of 6.94% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Castings, Forgings & Fastners Industry: Castings & Forgings

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	16.12	8.94	18.74	19.44	19.44	17.73	24.52	22.91	20.85	17.42	20.90	16.57	21.64
	13.75	8.51	17.55	17.54	17.54	16.28	22.55	19.16	18.44	15.35	17.42	14.09	18.40
Operating Profit	2.37	0.43	1.19	1.90	1.90	1.45	1.97	3.75	2.41	2.07	3.48	2.48	3.24
OPM %	14.70%	4.81%	6.35%	9.77%	9.77%	8.18%	8.03%	16.37%	11.56%	11.88%	16.65%	14.97%	14.97%
	0.47	0.15	0.58	0.24	0.24	0.31	0.44	0.27	0.45	0.34	0.35	0.29	0.50
Interest	0.21	0.20	0.25	0.39	0.39	0.21	0.20	0.32	0.33	0.34	0.31	0.31	0.31
Depreciation	0.72	0.69	0.69	0.70	0.70	0.83	0.85	0.86	0.88	0.86	0.88	0.82	0.89
Profit before tax	1.91	-0.31	0.83	1.05	1.05	0.72	1.36	2.84	1.65	1.21	2.64	1.64	2.54
Tax %	36.65%	0.00%	8.43%	18.10%	18.10%	5.56%	6.62%	39.79%	55.15%	31.40%	27.65%	26.83%	24.41%
	1.20	-0.31	0.77	0.86	0.86	0.68	1.26	1.71	0.74	0.83	1.90	1.20	1.92
EPS in Rs	1.32	-0.34	0.85	0.95	0.95	0.75	1.39	1.88	0.81	0.91	2.09	1.32	2.11
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	31.22	36.74	49.53	52.19	67.17	61.93	58.04	56.85	51.15	66.30	86.02	76.53
	26.99	30.38	39.95	40.91	51.63	48.08	51.00	52.25	46.41	61.94	76.43	65.27
Operating Profit	4.23	6.36	9.58	11.28	15.54	13.85	7.04	4.60	4.74	4.36	9.59	11.26
OPM %	13.55%	17.31%	19.34%	21.61%	23.14%	22.36%	12.13%	8.09%	9.27%	6.58%	11.15%	14.71%
	0.48	0.59	0.95	1.80	2.44	2.74	1.79	1.06	1.21	1.32	1.47	1.49
Interest	0.65	0.64	1.07	0.76	0.97	1.68	1.71	1.73	0.98	1.12	1.06	1.27
Depreciation	0.70	0.72	1.16	1.21	1.05	2.69	2.65	2.43	2.62	2.89	3.43	3.46
Profit before tax	3.36	5.59	8.30	11.11	15.96	12.22	4.47	1.50	2.35	1.67	6.57	8.02
Tax %	60.42%	39.89%	33.73%	33.39%	36.47%	36.58%	33.11%	11.33%	29.79%	19.76%	33.18%	27.18%
	1.33	3.36	5.50	7.39	10.14	7.75	2.99	1.34	1.64	1.34	4.39	5.84
EPS in Rs	1.60	4.04	6.61	8.88	12.19	9.31	3.29	1.48	1.81	1.48	4.83	6.43
Dividend Payout %	0.00%	24.76%	15.13%	33.78%	32.82%	0.00%	45.55%	0.00%	55.37%	67.76%	31.03%	23.32%

Compounded Sales Growth
10 Years:	8%
5 Years:	6%
3 Years:	14%
TTM:	-11%

Compounded Profit Growth
10 Years:	6%
5 Years:	16%
3 Years:	56%
TTM:	35%

Stock Price CAGR
10 Years:	18%
5 Years:	16%
3 Years:	31%
1 Year:	57%

Return on Equity
10 Years:	12%
5 Years:	5%
3 Years:	7%
Last Year:	10%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Equity Capital	8.32	8.32	8.32	8.32	8.32	9.08	9.08	9.08	9.08	9.08	9.08	9.08
Reserves	0.85	2.71	6.88	11.26	19.41	38.08	41.23	40.62	42.26	42.52	45.86	50.27
Preference Capital	5.00	5.00	3.00	0.00	0.00	4.00	4.00	4.00	2.00	0.00	0.00
	3.31	3.10	4.81	6.14	5.11	17.83	21.52	17.02	14.59	18.32	20.25	15.38
	6.53	10.04	7.39	6.05	6.64	15.21	19.51	16.60	15.25	15.10	14.04	13.52
Total Liabilities	19.01	24.17	27.40	31.77	39.48	80.20	91.34	83.32	81.18	85.02	89.23	88.25
	6.29	6.12	5.10	5.80	10.43	40.72	46.89	46.60	46.09	47.64	47.31	45.03
CWIP	0.00	0.00	0.09	0.14	0.56	1.33	1.25	0.99	0.75	0.69	3.35	5.08
Investments	0.00	0.00	0.00	0.00	1.03	1.60	1.54	1.48	1.31	2.02	2.26	2.23
	12.72	18.05	22.21	25.83	27.46	36.55	41.66	34.25	33.03	34.67	36.31	35.91
Total Assets	19.01	24.17	27.40	31.77	39.48	80.20	91.34	83.32	81.18	85.02	89.23	88.25

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	3.57	5.42	3.83	9.53	12.53	8.96	6.14	1.81	8.85	3.83	5.68	9.93
	-0.26	-0.21	0.41	-1.29	-5.24	-6.74	-7.36	-1.34	-1.01	-4.08	-5.37	-2.21
	-1.19	-2.35	-2.69	-5.43	-5.04	-0.75	1.98	-8.30	-5.42	-0.47	-0.03	-7.50
Net Cash Flow	2.12	2.86	1.55	2.80	2.25	1.47	0.76	-7.83	2.42	-0.71	0.27	0.22

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	16.84	18.18	17.61	17.97	14.35	17.74	29.18	21.96	29.61	26.43	24.14	27.76
Inventory Days	81.84	97.52	64.68	84.02	79.05	262.82	254.12	327.37	241.61	221.96	173.42	214.20
Days Payable	14.53	36.57	16.98	27.16	36.80	112.47	147.71	136.21	129.35	124.82	76.30	70.18
Cash Conversion Cycle	84.15	79.13	65.31	74.83	56.59	168.09	135.58	213.12	141.88	123.56	121.27	171.79
Working Capital Days	86.52	74.21	80.69	69.38	47.60	59.70	68.48	89.50	72.71	61.49	61.27	64.20
ROCE %	23.46%	34.03%	44.47%	48.72%	57.82%	27.24%	8.20%	4.41%	4.60%	3.53%	10.42%

Shareholding Pattern

Numbers in percentages

	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
	34.04%	34.04%	34.04%	34.04%	34.04%	34.04%	34.04%	34.04%	34.04%	34.04%	34.04%	34.04%
	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
	65.95%	65.95%	65.95%	65.95%	65.95%	65.95%	65.95%	65.94%	65.96%	65.97%	65.96%	65.95%
No. of Shareholders	5,054	4,850	4,773	4,224	4,160	4,130	4,126	4,080	4,409	4,625	4,793	4,800

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	65.55%	65.55%	34.04%	34.04%	34.04%	34.04%	34.04%	34.04%
	0.00%	0.00%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.01%	0.01%	0.00%	0.01%	0.01%	0.01%	0.01%	0.01%
	34.45%	34.45%	65.90%	65.95%	65.95%	65.95%	65.94%	65.95%
No. of Shareholders	4,676	4,963	5,894	5,289	4,883	4,224	4,080	4,800

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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National Fittings Ltd

National Fittings Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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