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Nirlon
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Nirlon Limited (Nirlon), a multi-product company was incorporated on 12th March 1958 as a private limited. Nirlon is making a real estate play and other business of the company includes manufacturing of industrial fabrics used in belting, tarpaulins, and grey textiles in India. The company also offers a range of wrap type, polyester reinforced V-belts, also engages in dipping tyrecord fabric and industrial fabric, as well as in the manufacture and job work of griege tyrecord and industrial fabric. It has a joint venture with Semperit A.G for produce synthetic and cotton fabric reinforced rubber conveyor belts. The manufacturing units of the company are located in Mumbai, Thane and Raigad.
Nylon Textile production was started by the company in the year 1962. On 13th March 1963, Nirlon's status was converted from private limited to a public limited company. Nylon Tyrecord and Nylon Polyester production of the company were started in 1971 and 1974 respectively. During the year 1978, Nirlon had diversified into manufacture of Industrial Rubber Belting products i.e. Conveyor Belts & V-Belts at a new location in Roha, District Raigad. The Company made major expansion of the Nylon Tyrecord facility at a Tarapur in the year 1984. After four years, in 1988 the company had registered with Board for Financial and Industrial Reconstruction (BIFR). The rehabilitation scheme was sanctioned in the year of 1993. During the year 1995, Nirlon had exits from Polyester Filament Yarn business. State-of-the-art spin draw technology plant for Tyrecord of the company was commissioned in the year of 1996. The year 1999 was notable one in the Nirlon's saga; the company made its entry into the Real Estate business and offered its idle/surplus/factory premises at its Goregaon complex to Leading Corporates.
Modification to rehabilitation scheme was approved in the year of 1999. During the same year of 1999, the company came out from the Nylon Textile Filament Yarn business. In 2000, Nirlon had formed a Joint Venture (JV) company for its conveyor belting division having its manufacturing facility at Roha with a large, integrated, global player in belting production. Nylon Tyrecord division of the company obtained an ISO9002 accreditation from the Dutch Council for Certification in the same year of 2000. The factory building of the company areas of 350,000 sq.ft had licensed at Goregaon complex in the year of 2003. During the year 2004, the company had phased out the Tyrecord manufacturing facility at Goregaon. Additional building area of the company, which covers 150,000 sq.ft, was licensed at Goregaon in the year 2005. During the financial year of 2005-06, Nirlon had substantially completed its implementation of rehabilitation scheme. During the year 2006-07, BIFR had deregistered the company from the list of companies under Sick Industrial Companies, in view of this; the company is no longer a sick industrial unit under BIFR. In 2007-08, the company had commenced its development of IT Park at Goregaon.
Nirlon has decided to phase out its V-Belt division in the financial year 2008-2009 and the assets of the division including fixed and net current assets will be monetized. The Company has scheduled to begin development and construction of a further two phases in NKP in 2009-2010, depending on the progress of Phase 1 and Phase 2 and also planned to complete the same in 2011-2012. This would create approximately 2.8 million sq. ft. built-up area at Goregaon.
Nirlon share price reflects investor sentiment toward the company and is impacted by various factors such as financial performance, market trends, and economic conditions. Share price is an indicator which shows the current value of the company's shares at which buyers or sellers can transact.
Market capitalization of Nirlon indicates the total value of its outstanding shares. Marketcap is calculated by multiplying share price and outstanding shares of the company. It is a helpful metric for assessing the company's size and market Valuation. It also helps investors understand how Nirlon is valued compared to its competitors.
Nirlon PE ratio helps investors understand what is the market value of each stock compared to Nirlon 's earnings. A PE ratio higher than the average industry PE could indicate an overvaluation of the stock, whereas a lower PE compared to the average industry PE could indicate an undervaluation.
The PEG ratio of Nirlon evaluates its PE ratio in relation to its growth rate. A PEG ratio of 1 indicates a fair value, a PEG ratio of less than 1 indicates undervaluation, and a PEG ratio of more than 1 indicates overvaluation.
Return on Equity (ROE) measures how effectively Nirlon generates profit from shareholders' equity. A higher ROE of more than 20% indicates better financial performance in terms of profitability.
Return on Capital Employed (ROCE) evaluates the profitability of Nirlon in relation to its capital employed. In simple terms, ROCE provides insight to investors as to how well the company is utilizing the capital deployed. A high ROCE of more than 20% shows that the business is making profitable use of its capital.
Total debt of Nirlon shows how much the company owes to either banks or individual creditors. In simple terms, this is the amount the company has to repay. Total debt can be a very useful metric to show the financial health of the company. Total debt more than equity is considered to be a bad sign.
The Debt-to-Equity (DE) ratio of Nirlon compares its total debt to shareholders' equity. A higher Debt to Equity ratio could indicate higher financial risk, while a lower ratio suggests that the company is managing its debt efficiently.
CAGR shows the consistent growth rate of Nirlon over a specific period, whether it is over a month, a year, or 10 years. It is a key metric to evaluate the company’s long-term growth potential. Main metrics for which CAGR is calculated are net sales, net profit, operating profit, and stock returns.
Technical analysis of Nirlon helps investors get an insight into when they can enter or exit the stock. Key components of Nirlon Technical Analysis include:
There are usually multiple support levels, but the main support levels for a stock are S1, S2, S3. Support levels indicate price points where stock might get support from buyers, helping the stock stop falling and rise.
There are usually multiple resistance levels, but the main resistance levels for a stock are R1, R2, R3. Resistance levels represent price points where Nirlon shares often struggle to rise above due to selling pressure.
Dividends refer to the portion of the company’s profits distributed to its shareholders. Dividends are typically paid out in cash and reflect Nirlon ’s financial health and profitability.
Bonus shares are usually given by companies to make the stock more affordable, increase liquidity, boost investor confidence, and more.
Stock split increases the number of its outstanding shares by dividing each existing share into multiple shares. When the company offers a stock split, the face value of the stock reduces in the same proportion as the split ratio.
The financials of Nirlon provide a complete view to investors about its net sales, net profit, operating profits, expenses, and overall financial health. Investors can analyze financial data to assess the company’s stability and also understand how the company has been growing financially.
The profit and loss statement of Nirlon highlights its net sales, net profit, total expenditure, and operating profits in the current financial year. This Profit and Loss statement is crucial for evaluating the profitability and financial stability of Nirlon .
The balance sheet presents a snapshot of Nirlon ’s assets, liabilities, and equity of shareholders, providing insights into the financials of the company.
Cashflow statements track the company's cash inflows and outflows over a period. It is an essential tool for understanding how well the company manages its liquidity and finances.
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