NIBE Ltd

₹ 1,968 0.00%

03 Jul 9:01 a.m.

About

Incorporated in 2005. Nibe Ltd is in the business of manufacturing critical components for Defence, E-Vehicles and Software Development.

Key Points

Business Overview
Company is engaged in the business of Fabrication and Machining of components used in Defence Sector as well as assembly of components of E Vehicles. It also offers strategic products and related research advancements in the E-Vehicles division and the BVM R&D Foundation. ^[1]

Website BSE

Market Cap ₹ 2,584 Cr.
Current Price ₹ 1,968
High / Low ₹ 2,130 / 335
Stock P/E 117
Book Value ₹ 127
Dividend Yield 0.01 %
ROCE 20.2 %
ROE 18.9 %
Face Value ₹ 10.0

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Pros

Company is expected to give good quarter
Company has delivered good profit growth of 366% CAGR over last 5 years
Debtor days have improved from 73.8 to 50.2 days.
Company's median sales growth is 16.4% of last 10 years

Cons

Stock is trading at 15.5 times its book value
Promoter holding has decreased over last 3 years: -12.7%
Working capital days have increased from 40.9 days to 74.6 days

* 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: Aerospace & Defence Industry: Engineering

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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
	3	2	3	8	8	10	17	15	62	26	41	63	149
	2	2	4	10	5	10	13	12	58	22	35	56	129
Operating Profit	0	0	-1	-2	3	1	4	3	5	4	6	7	20
OPM %	14%	8%	-34%	-25%	39%	6%	22%	18%	8%	14%	14%	11%	14%
	0	0	0	0	1	0	1	0	0	0	0	1	0
Interest	0	0	0	0	0	0	1	1	1	1	1	1	1
Depreciation	0	0	0	0	1	0	2	1	1	1	1	1	3
Profit before tax	0	0	-1	-2	3	0	2	1	3	2	4	6	17
Tax %	16%	22%	3%	-0%	4%	17%	35%	27%	24%	32%	23%	19%	27%
	0	0	-1	-2	3	0	1	1	2	1	3	5	12
EPS in Rs	0.30	0.13	-1.10	-1.97	3.00	0.19	1.05	0.89	1.98	1.10	2.83	3.97	9.28
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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
	6	10	11	9	3	5	2	1	3	21	105	279
	5	9	11	8	3	5	2	2	2	19	93	242
Operating Profit	0	0	0	0	0	-0	-0	-0	0	2	12	37
OPM %	5%	3%	3%	3%	6%	-1%	-17%	-15%	5%	11%	11%	13%
	0	0	0	0	0	0	0	-0	0	1	1	3
Interest	0	0	0	0	0	0	0	0	0	1	3	4
Depreciation	0	0	0	0	0	0	0	0	0	3	4	6
Profit before tax	0	0	0	0	0	0	0	-0	0	-0	6	29
Tax %	27%	45%	23%	27%	44%	43%	150%	-4%	33%	-33%	27%	25%
	0	0	0	0	0	0	0	-0	0	-0	5	22
EPS in Rs	0.10	0.06	0.10	0.08	0.05	0.08	0.00	-0.46	0.12	-0.43	3.85	16.80
Dividend Payout %	0%	0%	0%	0%	0%	0%		0%	0%	0%	3%	6%

Compounded Sales Growth
10 Years:	40%
5 Years:	171%
3 Years:	381%
TTM:	166%

Compounded Profit Growth
10 Years:	81%
5 Years:	366%
3 Years:	454%
TTM:	388%

Stock Price CAGR
10 Years:	67%
5 Years:	219%
3 Years:	269%
1 Year:	443%

Return on Equity
10 Years:	11%
5 Years:	14%
3 Years:	16%
Last Year:	19%

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	3	3	10	10	10	10	10	10	10	10	12	13
Reserves	7	7	0	0	0	0	0	-0	0	-0	55	154
	1	1	1	1	0	0	0	0	2	11	31	69
	0	1	1	1	0	0	0	0	0	19	59	55
Total Liabilities	12	13	13	12	11	11	11	10	12	41	156	291
	0	1	1	0	0	0	0	0	0	12	39	119
CWIP	0	0	0	0	0	0	0	0	0	0	10	22
Investments	7	4	4	4	1	0	1	0	2	0	6	21
	5	8	9	8	9	11	10	10	10	29	101	130
Total Assets	12	13	13	12	11	11	11	10	12	41	156	291

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
	-8	1	0	1	0	-0	1	-3	0	5	-8	149
	-2	0	-1	-0	2	-0	-1	3	-1	1	-62	-249
	10	-0	-0	-0	-1	-0	-0	-0	2	-5	77	102
Net Cash Flow	0	1	-1	-0	1	-0	-0	-0	0	1	7	2

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	110	159	147	165	139	137	506	119	214	48	123	50
Inventory Days	189	120	126	183	780	442	500	1,602	1,093	759	52	37
Days Payable	17	38	48	44	33	8	0	5	4	265	19	37
Cash Conversion Cycle	281	240	225	304	886	571	1,006	1,716	1,303	542	157	50
Working Capital Days	239	231	241	299	736	539	1,118	1,708	1,110	10	38	75
ROCE %	3%	1%	2%	1%	1%	1%	-0%	1%	2%	4%	16%

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
	62.64%	62.85%	62.85%	62.85%	62.85%	62.97%	62.97%	55.32%	55.32%	55.32%	49.96%	49.96%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.42%	2.04%	3.88%	10.43%	11.03%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.91%	0.99%	1.63%	1.23%	0.87%	0.78%	0.78%
	37.36%	37.15%	37.15%	37.15%	37.15%	36.13%	36.04%	41.63%	41.40%	39.91%	38.83%	38.23%
No. of Shareholders	659	1,661	1,597	1,420	1,322	2,340	3,062	4,151	4,854	5,421	7,276	16,238

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	35.18%	33.87%	29.58%	58.47%	62.64%	62.85%	55.32%	49.96%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.42%	11.03%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.63%	0.78%
	64.82%	66.13%	70.42%	41.53%	37.36%	37.15%	41.63%	38.23%
No. of Shareholders	83	102	106	105	362	1,420	4,151	16,238

* 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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NIBE Ltd

NIBE Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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