Nitin Spinners

NP up 155% YoY to Rs 88.7 crore in Q2FY2027

On standalone basis

Quarter ended September 2026 compared with Quarter ended September 2025.

Net sales (including other operating income) of Nitin Spinners has increased 29.61% to Rs 985.15 crore.  

Operating profit margin has jumped from 13.10% to 17.81%, leading to 76.23% rise in operating profit to Rs 175.47 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 63.97% to 60.49%.   Employee cost decreased from 6.94% to 6.37%.   Other expenses fell from 16.39% to 15.73%.   Power and Oil fuel cost fell from 8.92% to 7.83%.   

Other income up 156.25% to Rs 1.64 crore.  PBIDT rose 76.74% to Rs 177.11 crore.  Provision for interest up 23.94% to Rs 19.93 crore.  Loan funds rose to Rs 1,780.11 crore as of 30 September 2026 from Rs 915.42 crore as of 30 September 2025.  Inventories rose to Rs 493.09 crore as of 30 September 2026 from Rs 436.03 crore as of 30 September 2025.  Sundry debtors were higher at Rs 603.70 crore as of 30 September 2026 compared to Rs 389.58 crore as of 30 September 2025.  Cash and bank balance rose to Rs 8.35 crore as of 30 September 2026 from Rs 5.64 crore as of 30 September 2025.  Investments rose to Rs 25.70 crore as of 30 September 2026 from Rs 17.14 crore as of 30 September 2025 .  

PBDT rose 86.83% to Rs 157.18 crore.  Provision for depreciation rose 2.52% to Rs 38.21 crore.  Fixed assets increased to Rs 2,353.67 crore as of 30 September 2026 from Rs 1,541.54 crore as of 30 September 2025.  Intangible assets declined from Rs 0.31 crore to Rs 0.16 crore.  

Profit before tax grew 153.88% to Rs 118.97 crore.  Provision for tax was expense of Rs 30.31 crore, compared to Rs 12.07 crore.  Effective tax rate was 25.48% compared to 25.76%.

Profit after tax rose 154.84% to Rs 88.66 crore.  

Equity capital stood at Rs 56.22 crore as of 30 September 2026 to Rs 56.22 crore as of 30 September 2025.  Per share face Value remained same at Rs 10.00.  

Promoters? stake was 56.71% as of 30 September 2026 ,compared to 56.62% as of 30 September 2025.  

Year-to-date (YTD) results analysis

Net sales (including other operating income) of Nitin Spinners has increased 19.75% to Rs 1,860.18 crore.  

Operating profit margin has jumped from 13.57% to 17.80%, leading to 57.04% rise in operating profit to Rs 331.06 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 63.93% to 60.59%.   Employee cost decreased from 6.69% to 6.38%.   Other expenses fell from 16.13% to 15.70%.   Power and Oil fuel cost fell from 8.79% to 8.03%.   

Other income up 68.60% to Rs 4.08 crore.  PBIDT rose 57.17% to Rs 335.14 crore.  Provision for interest up 6.01% to Rs 39.34 crore.  Loan funds rose to Rs 1,780.11 crore as of 30 September 2026 from Rs 915.42 crore as of 30 September 2025.  Inventories rose to Rs 493.09 crore as of 30 September 2026 from Rs 436.03 crore as of 30 September 2025.  Sundry debtors were higher at Rs 603.70 crore as of 30 September 2026 compared to Rs 389.58 crore as of 30 September 2025.  Cash and bank balance rose to Rs 8.35 crore as of 30 September 2026 from Rs 5.64 crore as of 30 September 2025.  Investments rose to Rs 25.70 crore as of 30 September 2026 from Rs 17.14 crore as of 30 September 2025 .  

PBDT rose 67.95% to Rs 295.8 crore.  Provision for depreciation rose 2.31% to Rs 75.85 crore.  Fixed assets increased to Rs 2,353.67 crore as of 30 September 2026 from Rs 1,541.54 crore as of 30 September 2025.  Intangible assets declined from Rs 0.31 crore to Rs 0.16 crore.  

Profit before tax grew 115.68% to Rs 219.95 crore.  Provision for tax was expense of Rs 56.02 crore, compared to Rs 26.21 crore.  Effective tax rate was 25.47% compared to 25.70%.

Profit after tax rose 116.35% to Rs 163.93 crore.  

Equity capital stood at Rs 56.22 crore as of 30 September 2026 to Rs 56.22 crore as of 30 September 2025.  Per share face Value remained same at Rs 10.00.  

Promoters? stake was 56.71% as of 30 September 2026 ,compared to 56.62% as of 30 September 2025 .  

Full year results analysis

Net sales (including other operating income) of Nitin Spinners has declined 2.78% to Rs 3,213.87 crore.  

Operating profit margin has declined from 14.26% to 14.09%, leading to 3.96% decline in operating profit to Rs 452.74 crore.  Raw material cost as a % of total sales (net of stock adjustments) decreased from 63.42% to 62.50%.   Employee cost increased from 6.09% to 6.55%.   Other expenses rose from 16.14% to 16.79%.   Power and Oil fuel cost rose from 8.54% to 9.13%.   

Other income up 39.17% to Rs 5.01 crore.  PBIDT fell 3.64% to Rs 457.75 crore.  Provision for interest fell 21.60% to Rs 70.86 crore.  Loan funds declined from Rs 1,164.71 crore as of 31 March 2025 to Rs 1,124.50 crore as of 31 March 2026.  Inventories rose to Rs 607.65 crore as of 31 March 2026 from Rs 607.38 crore as of 31 March 2025.  Sundry debtors were higher at Rs 431.87 crore as of 31 March 2026 compared to Rs 429.60 crore as of 31 March 2025.  Cash and bank balance declined from Rs 9.51 crore as of 31 March 2025 to Rs 8.64 crore as of 31 March 2026.  

PBDT rose 0.58% to Rs 386.89 crore.  Provision for depreciation rose 0.29% to Rs 148.13 crore.  Fixed assets increased to Rs 1,591.51 crore as of 31 March 2026 from Rs 1,583.58 crore as of 31 March 2025.  Intangible assets declined from Rs 0.39 crore to Rs 0.23 crore.  

Profit before tax grew 0.77% to Rs 238.76 crore.  Provision for tax was expense of Rs 61.21 crore, compared to Rs 61.51 crore.  Effective tax rate was 25.64% compared to 25.96%.

Profit after tax rose 1.21% to Rs 177.55 crore.  

Equity capital stood at Rs 56.22 crore as of 30 September 2026 to Rs 56.22 crore as of 30 September 2025.  Per share face Value remained same at Rs 10.00.  

Promoters? stake was 56.71% as of 31 March 2026 ,compared to 56.62% as of 31 March 2025 .  

Cash flow from operating activities increased to Rs 410.52 crore for year ended March 2026 from Rs 307.43 crore for year ended March 2025.  Cash flow used in acquiring fixed assets during the year ended March 2026 stood at Rs 60.42 crore, compared to Rs 16.23 crore during the year ended March 2025.  

 

Management Commentary:

Commenting on the results, Mr. Dinesh Nolkha ? Chairman and Managing Director said ?Q2FY27 has been a landmark quarter for the company, we achieved some key milestones together: highest-ever quarterly revenue, highest-ever quarterly exports and highest-ever quarterly revenue from our fabric business.

EBITDA margin was sustained at 17.8%, supported by higher yarn realizations, optimum capacity utilization and ongoing cost saving measures. Exports contributed 68% to the quarterly revenue, driven by better demand.

On the capacity expansion front, we have commenced trial production of griege woven fabric. As the new weaving and finishing capacities ramp up, a larger share of our yarn will be consumed in-house, adding value to our portfolio and strengthening our margin profile. With favourable trade policies, an expanding presence in value-added fabrics, a well-diversified export footprint and an increasing share of renewable energy in our energy mix, we are well positioned to sustain this momentum and  deliver profitable and sustainable growth in the year ahead.

Nitin Spinners : Standalone Results

Quarter ended Year to Date Year ended Particulars 202609 202509 Var.(%) 202609 202509 Var.(%) 202603 202503 Var.(%) Net Sales (including other operating income) 985.15 760.08 29.61 1,860.18 1,553.40 19.75 3,213.87 3,305.65 -2.78 OPM (%) 17.81 13.10 471 bps 17.80 13.57 423 bps 14.09 14.26 -17 bps OP 175.47 99.57 76.23 331.06 210.81 57.04 452.74 471.42 -3.96 Other Inc. 1.64 0.64 156.25 4.08 2.42 68.60 5.01 3.60 39.17 PBIDT 177.11 100.21 76.74 335.14 213.23 57.17 457.75 475.02 -3.64 Interest 19.93 16.08 23.94 39.34 37.11 6.01 70.86 90.38 -21.60 PBDT 157.18 84.13 86.83 295.80 176.12 67.95 386.89 384.64 0.58 Depreciation 38.21 37.27 2.52 75.85 74.14 2.31 148.13 147.7 0.29 PBT 118.97 46.86 153.88 219.95 101.98 115.68 238.76 236.94 0.77 PBT before EO 118.97 46.86 153.88 219.95 101.98 115.68 238.76 236.94 0.77 EO Income 0 0 - 0 0 - 0 0 - PBT after EO 118.97 46.86 153.88 219.95 101.98 115.68 238.76 236.94 0.77 Taxation 30.31 12.07 151.12 56.02 26.21 113.74 61.21 61.51 -0.49 PAT 88.66 34.79 154.84 163.93 75.77 116.35 177.55 175.43 1.21 P/(L) from discontinued operations net of tax 0 0 - 0 0 - 0 0 - Net profit after discontinued operations 88.66 34.79 154.84 163.93 75.77 116.35 177.55 175.43 1.21 EPS (Rs)* 15.77 6.19 154.84 29.16 13.48 116.35 31.58 31.20 1.21 * EPS is on current equity of Rs 56.22 crore, Face value of Rs 10, Excluding extraordinary items. # EPS is not annualised bps : Basis points EO : Extraordinary items Figures in Rs crore Source: Capitaline Corporate Database

Peer Comparision (Standalone)	Q-202609
	Sales (Rs. Crs)	var.(%)	OP (Rs. Crs)	var.(%)	Net Profit (Rs. Crs)	var.(%)	Share Price(Rs) 30-Oct-2026	var.(%) over One year	TTM EPS	TTM PE
Nitin Spinners Ltd	985.15	29.61	175.47	76.23	88.66	154.84	650.90	100.31	47.26	13.77
Akshar Spintex Ltd	35.69	59.76	1.93	LP	0.30	LP	0.43	-29.51	-0.04	-
Amarjothi Spinning Mills Ltd	51.33	15.45	8.38	25.64	2.76	4.94	150.20	1.28	18.89	7.95
Arvind Ltd	2,145.72	19.09	245.56	33.77	85.15	12.14	491.15	52.11	10.34	47.51
DCM Nouvelle Ltd	314.12	33.61	38.50	236.54	22.62	1398.01	175.00	13.56	34.99	5.00
H P Cotton Textile Mills Ltd	34.39	-0.17	2.99	4.91	1.06	34.18	85.23	-14.77	8.57	9.95
Indo Cotspin Ltd	2.42	-63.28	0.14	-6.67	0.09	800	28.10	-3.93	0.10	286.71
Maral Overseas Ltd	301.30	20.66	18.16	99.78	7.00	LP	58.01	19.41	7.75	7.49
Nahar Spinning Mills Ltd	894.44	14.78	117.80	364.88	71.06	LP	260.65	25.16	42.11	6.19
Rudra Ecovation Ltd	0.55	-94.29	-0.77	-45.28	-1.16	-41.46	17.90	-48.56	-0.38	-
Shree Manufacturing Company Ltd	0.00	-	-0.01	0	-0.01	0	8.79	-47.68	-0.18	-
Shree Ram Twistex Ltd	136.04	97.62	4.54	-48.05	4.66	30.9	33.56	-54.31	3.86	8.69
Super Sales India Ltd	130.18	24.08	24.27	120.24	13.76	238.92	1,104.30	42.57	67.72	16.31
Varvee Global Ltd	19.61	-29.54	2.85	-79.41	6.79	-33.5	53.00	-12.32	-4.47	-
Industry	5,050.94	21.86	639.81	72.24	302.74	145.13	20,870.06	70.28		25.92

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