Nitin Spinners

Nitin Spinners
Screener
BSE
Value Research


Content mentioned is just for my reference. Do your own analysis before investing.

positive

- Feb 2018 - Revenue CAGR FY13-17 = 20%

                   PAT CAGR = 19%

                   EPS from 3.1 to 12.5

                   PE from 3 to 10

- Feb 2018 - Issue of 6,68,290 preferred shares @ Rs.120.5 per share aggregating to Rs 8,05,28,945.

- Dec2017 -  Issue of 10,00,290 preferred shares  @ Rs.120.5 per share aggregating to Rs 12,05,34,945

- Nov 2017 - Issue of 93,85,765 shares (QIP)  @ Rs.115 per share aggregating to Rs108 Cr for loan repayment & general business use.

negative

ebidta - Reducing from 19% to 14.35%

Business Information

Products: 100% Cotton Yarn and Knitted Fabrics
Plants located at Hamirgarh, District Bhilwara (Rajasthan)
Milestones

Year	Rotters	spindles	Knitting machine	Finished fabric	Dying	Power plans / Comments
1993	384	0	0	0	0
1999	1,464	0	0	0	0
2002	0	14112	7	0	0
2005	0	13,104	8th	0	0
2007	0	50,400	12	0	0	7.66 MW fuel oil based power plant
2008	2,000	0	0	0	0	10.5 MW captive thermal power plant
2015	0	72480	18	0	0
Feb 2017	0	72960	14	0	0	Capex 300 cr.Debt 250 cr.
Total	2,936	2,23,056	63	0	0	Topline to be 1100 cr
Total	50K ton of yarn / year		9k ton of fabric / year	0	0
Proposed in Dec 2017	18K ton of yarn / year			36 mn meters	50 mn meters	Capex of 650 Cr 50 acre of land
Next phase				knit fabric processing and printing		Capex of 350 Cr

price range

Assuming a net margin of 6-6.5% on sales of 1500 Cr, PAT for 2018-19 works out to be 90-100 cr. At PE of 10, company should sell for 1000 Cr by Mar 2019 compared to 600 Cr now giving an upside potential of 60%.



MP on 24 Feb 2018 @ 108
Lower resistance @ 105  
Upper resistance @ 130 & 140