Nitin Spinners, a prominent name in the textile industry, specializes in the production of high-quality yarn and cotton knitted fabric. With a commitment to excellence and innovation, the company has carved a niche for itself in both domestic and international markets. Established with a vision to deliver superior textile solutions, Nitin Spinners combines state-of-the-art technology with sustainable practices to meet the diverse needs of its clientele.
In this article, we will delve into the company’s history, product range, manufacturing processes, market presence, and future prospects, offering a comprehensive overview of its operations and achievements.
Nitin Spinners: Comprehensive Overview of Product Portfolio, Manufacturing Capacities, and Strategic Growth
Nitin Spinners boasts a diverse product portfolio, including 100% cotton and blended yarns for denims, bed linen, tea bags, and terry towels; single jersey knitted fabrics with elastane for innerwear, sportswear, babywear, and winterwear; and cotton spandex finished woven fabrics for fashion wear, defense wear, and healthcare wear. Their manufacturing facilities in Bhilwara and Chittorgarh, Rajasthan, have impressive capacities, producing 110,000 tons of yarn, 11,000 tons of knitted fabric, and 40 million meters of finished woven fabric annually. With 434,832 spindles, 5,864 rotors, 264 airjet weaving machines, and 77 circular knitting machines, Nitin Spinners is strategically located near raw material sources and major ports, providing significant logistical and cost benefits.
In FY24, the company completed a major Capex, enhancing its production capabilities with new spindles, airjet positions, rotors, knitting, and weaving machines, and increasing finishing capacity by 10 million meters per annum. The 9MFY24 revenue break-up highlights a growing contribution from value-added products, with yarn contributing ~70%, fabrics 25%, and others 5%.
Q4 Results Summary for Nitin Spinners
- Sales: Rs. 801 crores, showing a sequential increase from Rs. 750 crores in Dec 2023.
- Expenses: Rs. 684 crores, up from Rs. 648 crores in Dec 2023.
- Operating Profit: Rs. 116 crores, rising from Rs. 103 crores in Dec 2023.
- Operating Profit Margin (OPM): 15%, up from 14% in Dec 2023.
- Other Income: Rs. 1 crore, unchanged from Dec 2023.
- Interest: Rs. 28 crores, an increase from Rs. 25 crores in Dec 2023.
- Depreciation: Rs. 36 crores, slightly higher than Rs. 35 crores in Dec 2023.
- Profit Before Tax: Rs. 53 crores, improving from Rs. 43 crores in Dec 2023.
- Tax Rate: 26%, consistent with the previous quarter.
- Net Profit: Rs. 39 crores, an increase from Rs. 32 crores in Dec 2023.
- Earnings Per Share (EPS): Rs. 6.97, up from Rs. 5.65 in Dec 2023.
Below are the trading platforms that you can use to purchase Nitin Spinners shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| June 2024 | 375.84 | 326.82 |
| July 2024 | 372.08 | 323.55 |
| August 2024 | 386.96 | 336.49 |
| September 2024 | 402.44 | 349.95 |
| October 2024 | 394.55 | 343.09 |
| November 2024 | 406.39 | 353.38 |
| December 2024 | 416.55 | 362.22 |
Nitin Spinners’ share price target for 2024 indicates a positive trajectory, with the stock expected to reach a maximum of Rs. 416.55 and a minimum of Rs. 326.82 by December.
As of June 19, 2024, the current price stands at Rs. 348, with a market cap of Rs. 1,959 crore. The stock has seen a high of Rs. 395 and a low of Rs. 225. It trades at a P/E ratio of 14.9, with a book value of Rs. 204. Investors can expect a dividend yield of 0.72%, while the company boasts a Return on Capital Employed (ROCE) of 11.6% and a Return on Equity (ROE) of 12.1%, based on a face value of Rs. 10.
| When | Maximum Price | Minimum Price |
| January 2025 | 424.88 | 326.83 |
| February 2025 | 435.77 | 335.21 |
| March 2025 | 452.77 | 348.28 |
| April 2025 | 443.89 | 341.45 |
| May 2025 | 430.96 | 331.51 |
| June 2025 | 450.36 | 346.43 |
| July 2025 | 441.53 | 339.63 |
| August 2025 | 455.18 | 350.14 |
| September 2025 | 471.11 | 362.39 |
| October 2025 | 483.36 | 371.82 |
| November 2025 | 495.45 | 381.11 |
| December 2025 | 507.83 | 390.64 |
Nitin Spinners’ share price target for 2025 shows a steady upward trend, with the stock expected to reach a maximum of Rs. 507.83 and a minimum of Rs. 326.83 by December. The company’s geography-wise revenue split for the first nine months of FY24 highlights its strong export presence, contributing 58% of total revenue, while domestic sales account for 42%.
Nitin Spinners exports to over 50 countries, including major markets like China, Canada, and the USA. This robust international footprint, combined with a projected share price increase, underscores the company’s growth potential and market confidence.
| When | Maximum Price | Minimum Price |
| January 2026 | 523.07 | 402.36 |
| February 2026 | 536.48 | 412.68 |
| March 2026 | 557.40 | 428.77 |
| April 2026 | 546.47 | 420.36 |
| May 2026 | 530.55 | 408.12 |
| June 2026 | 554.43 | 426.48 |
| July 2026 | 543.56 | 418.12 |
| August 2026 | 560.37 | 431.05 |
| September 2026 | 579.98 | 446.14 |
| October 2026 | 595.06 | 457.74 |
| November 2026 | 609.94 | 469.18 |
| December 2026 | 625.19 | 480.91 |
Nitin Spinners’ share price target for 2026 projects continued growth, with the stock expected to reach a maximum of Rs. 625.19 and a minimum of Rs. 402.36 by December. The company supplies its high-quality products to renowned domestic brands like Raymond, Arvind, Donear, D’Decor, Siyaram’s, and Welspun, and international giants such as Zara, United Colors of Benetton, Hennes & Mauritz (H&M), and Marco Polo. The top 10 customers accounted for 25% of sales in FY22, up from 16% in FY21, demonstrating a strong and expanding client base that supports its positive market outlook.
| When | Maximum Price | Minimum Price |
| January 2027 | 637.69 | 490.53 |
| February 2027 | 654.04 | 503.11 |
| March 2027 | 679.55 | 522.73 |
| April 2027 | 666.22 | 512.48 |
| May 2027 | 646.82 | 497.55 |
| June 2027 | 675.93 | 519.94 |
| July 2027 | 662.67 | 509.75 |
| August 2027 | 683.17 | 525.51 |
| September 2027 | 707.08 | 543.91 |
| October 2027 | 725.46 | 558.05 |
| November 2027 | 743.60 | 572.00 |
| December 2027 | 762.19 | 586.30 |
Nitin Spinners’ share price target for 2027 indicates strong growth potential, with the stock expected to reach a maximum of Rs. 762.19 and a minimum of Rs. 490.53 by December. The company remains focused on debottlenecking its existing manufacturing facilities to expand production capacity. It aims to enhance its portfolio of value-added products, which has been crucial in driving higher profitability. Nitin Spinners’ strategic initiatives align with market demands and growth opportunities, reinforcing its position in the textile industry.
| When | Maximum Price | Minimum Price |
| January 2028 | 777.43 | 598.03 |
| February 2028 | 797.37 | 613.36 |
| March 2028 | 828.47 | 637.28 |
| April 2028 | 812.22 | 624.79 |
| May 2028 | 788.56 | 606.59 |
| June 2028 | 824.05 | 633.88 |
| July 2028 | 807.89 | 621.46 |
| August 2028 | 832.88 | 640.68 |
| September 2028 | 862.03 | 663.10 |
| October 2028 | 884.44 | 680.34 |
| November 2028 | 906.55 | 697.35 |
| December 2028 | 929.22 | 714.78 |
- January 2028: ₹598.03 (Minimum)
- December 2028: ₹929.22 (Maximum)
| When | Maximum Price | Minimum Price |
| January 2029 | 947.80 | 729.08 |
| February 2029 | 972.10 | 747.77 |
| March 2029 | 1,010.02 | 776.94 |
| April 2029 | 990.21 | 761.70 |
| May 2029 | 961.37 | 739.52 |
| June 2029 | 1,004.63 | 772.79 |
| July 2029 | 984.93 | 757.64 |
| August 2029 | 1,015.40 | 781.07 |
| September 2029 | 1,050.93 | 808.41 |
| October 2029 | 1,078.26 | 829.43 |
| November 2029 | 1,105.21 | 850.17 |
| December 2029 | 1,132.85 | 871.42 |
- January 2029: ₹729.08(Minimum)
- December 2029: ₹1,132.85 (Maximum)
| When | Maximum Price | Minimum Price |
| January 2030 | 1,155.50 | 888.85 |
| February 2030 | 1,185.13 | 911.64 |
| March 2030 | 1,231.35 | 947.19 |
| April 2030 | 1,207.21 | 928.62 |
| May 2030 | 1,172.04 | 901.57 |
| June 2030 | 1,224.79 | 942.14 |
| July 2030 | 1,200.77 | 923.67 |
| August 2030 | 1,237.91 | 952.24 |
| September 2030 | 1,281.24 | 985.57 |
| October 2030 | 1,314.55 | 1,011.19 |
| November 2030 | 1,347.41 | 1,036.47 |
| December 2030 | 1,381.10 | 1,062.38 |
- January 2030: ₹888.85 (Minimum)
- December 2030: ₹1,381.10 (Maximum)
Financial Condition of Nitin Spinners: Last 5 Years
| Financial Metric | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|
| Sales (Rs. Crores) | 1,241 | 1,436 | 1,622 | 2,690 | 2,404 | 2,906 |
| Expenses (Rs. Crores) | 1,062 | 1,266 | 1,365 | 2,039 | 2,107 | 2,529 |
| Operating Profit (Rs. Crores) | 178 | 170 | 257 | 652 | 297 | 377 |
| Other Income (Rs. Crores) | 3 | 2 | 2 | -3 | 3 | 2 |
| Interest (Rs. Crores) | 29 | 56 | 62 | 55 | 38 | 83 |
| Depreciation (Rs. Crores) | 55 | 81 | 91 | 87 | 87 | 118 |
| Profit Before Tax (Rs. Crores) | 97 | 36 | 107 | 506 | 176 | 178 |
| Net Profit (Rs. Crores) | 64 | 24 | 69 | 326 | 165 | 132 |
| EPS (Rs.) | 11.40 | 4.24 | 12.25 | 58.01 | 29.32 | 23.39 |
Over the past five years, Nitin Spinners has shown significant growth in its financial metrics. Sales have steadily increased from Rs. 1,241 crores in March 2019 to Rs. 2,906 crores in March 2024, reflecting a compounded annual growth rate (CAGR) of 19%. Despite rising expenses, the company has managed to enhance its operating profitability, with operating profit reaching Rs. 377 crores in March 2024, driven by efficient cost management and increased scale. However, net profit has shown variability, peaking at Rs. 326 crores in March 2022 and stabilizing at Rs. 132 crores in March 2024.
The compounded profit growth over the last decade, five years, and three years highlights the company’s resilience and strategic focus on profitability. Notably, while the trailing twelve months (TTM) figure shows a decrease in profit, the long-term trend remains positive. Nitin Spinners’ stock price has demonstrated robust growth over the years, with a CAGR of 38% over the past five years, underscoring investor confidence in its performance and potential.
Return on equity (ROE) has remained strong, averaging 19% over the past decade, reflecting efficient utilization of shareholders’ funds. The recent ROE of 12% indicates a temporary dip, possibly influenced by market conditions or strategic investments. Overall, Nitin Spinners continues to navigate the textile sector with steady growth in sales, improved profitability, and favorable investor returns, despite short-term fluctuations in profitability metrics.
FAQs
What is Nitin Spinners’ current market cap?
Nitin Spinners is presently valued at a market capitalization of ₹1,959 crore, reflecting its standing in the textile industry.
As of June 19, 2024, Nitin Spinners’ share price stands at ₹348, illustrating its current market valuation and investor sentiment.
Nitin Spinners aims for its share price to range between ₹326.82 and ₹416.55 by December 2024, projecting potential growth and investor expectations.
In 2025, Nitin Spinners anticipates its share price to vary from ₹326.83 to ₹507.83 by December, driven by its strategic initiatives and market dynamics.
Looking ahead to 2030, Nitin Spinners forecasts its share price to reach anywhere between ₹888.85 and ₹1,381.10 by December, underscoring long-term growth prospects.
What is Nitin Spinners’ current Price-to-Earnings (P/E) ratio?
Currently, Nitin Spinners trades at a Price-to-Earnings (P/E) ratio of 14.9, indicating its valuation relative to its earnings and market expectations.
What is the dividend yield of Nitin Spinners?
Nitin Spinners offers a dividend yield of 0.72%, reflecting its commitment to returning value to shareholders alongside its growth strategy.
What was Nitin Spinners’ sales growth over the last 5 years?
Over the past 5 years, Nitin Spinners has achieved a compounded annual growth rate (CAGR) of 19% in sales, showcasing its expanding market presence and operational scale.
How much did Nitin Spinners’ net profit increase from March 2019 to March 2024?
Nitin Spinners’ net profit grew significantly from ₹64 crores in March 2019 to ₹132 crores in March 2024, driven by effective operational management and market demand.
What is the Return on Equity (ROE) for Nitin Spinners?
Nitin Spinners has maintained a robust Return on Equity (ROE) averaging 19% over the past decade, demonstrating efficient utilization of shareholder investments.
Also Read
- KANCHI KARPOORAM SHARE PRICE TARGET 2024, 2025, 2026 to 2030
- Hindustan Adhesives Share Price Target 2024, 2025, 2026 To 2030
- Jaiprakash Associates Share price Target 2024, 2025, 2026 To 2030
Conclusion: Nitin Spinners’ Strategic Growth and Financial Resilience
Nitin Spinners stands as a formidable force in the textile industry, renowned for its diverse product portfolio and robust manufacturing capabilities. Specializing in high-quality yarn and cotton knitted fabric, the company has secured a prominent position in both domestic and international markets. Nitin Spinners’ strategic use of state-of-the-art technology and sustainable practices underscores its commitment to delivering superior textile solutions, catering to varied client needs from denims to sportswear and fashion wear.
With manufacturing facilities strategically located in Bhilwara and Chittorgarh, Rajasthan, Nitin Spinners boasts impressive capacities, producing 110,000 tons of yarn, 11,000 tons of knitted fabric, and 40 million meters of finished woven fabric annually. The recent completion of a significant Capex in FY24 has further bolstered its production capabilities, aiming to meet growing demand and enhance operational efficiency.
Financially, Nitin Spinners has demonstrated robust growth over the years, with a compounded annual sales growth rate of 20.9% over the last decade. Despite fluctuations in net profit, the company has consistently improved its operational profitability, supported by a strong Return on Equity (ROE) averaging 19% over the past decade. Investor confidence is reflected in its share price performance, targeting substantial growth projections from ₹416.55 to ₹1,381.10 by 2030.
However, challenges such as increasing interest costs need careful management to sustain profitability. With a clear vision, strong market presence, and strategic growth initiatives, Nitin Spinners is well-positioned to capitalize on emerging opportunities in the global textile market, continuing its trajectory of growth and value creation for shareholders and stakeholders alike.
What did we learn?
- 1 Nitin Spinners: Comprehensive Overview of Product Portfolio, Manufacturing Capacities, and Strategic Growth
- 2 Q4 Results Summary for Nitin Spinners
- 3 How to Purchase Nitin Spinners Shares in India?
- 4 Nitin Spinners Share Price Prediction: 2024 – 2030
- 5 Financial Condition of Nitin Spinners: Last 5 Years
- 6 FAQs
- 6.1 What is Nitin Spinners’ current market cap?
- 6.2 What is the current share price of Nitin Spinners?
- 6.3 What is the share price target for Nitin Spinners in 2024?
- 6.4 What is Nitin Spinners’ share price target for 2025?
- 6.5 What is Nitin Spinners’ share price target for 2030?
- 6.6 What is Nitin Spinners’ current Price-to-Earnings (P/E) ratio?
- 6.7 What is the dividend yield of Nitin Spinners?
- 6.8 What was Nitin Spinners’ sales growth over the last 5 years?
- 6.9 How much did Nitin Spinners’ net profit increase from March 2019 to March 2024?
- 6.10 What is the Return on Equity (ROE) for Nitin Spinners?
- 7 Conclusion: Nitin Spinners’ Strategic Growth and Financial Resilience
