NITCO reported that it had obtained an order from Prestige Estates Projects for the supply of tiles, marble, and mosaics for Rs 105.40 crore, which resulted in a 2.06% increase to Rs 142.65. On the BSE, shares of Prestige Estates Projects increased by 1.34% to Rs 1,854.80. Tiles, marble, and mosaic goods will be supplied under the aforementioned order, which will be carried out over a six-month period. The business expects to receive orders from Prestige Estates Projects in the near future totaling Rs 104 crore, based on the ongoing projects. Tiles made by NITCO are designer. Marble, vitrified tiles, mosaic tiles, ceramic tiles, and vitrified floors are among its products.
Nitco reported net sales of Rs 65.47 crore in Q2 FY25, down 18.67% from Q2 FY24’s net sales of Rs 80.50 crore. In September 2024, the company’s net loss increased marginally to Rs 32.02 crore from Rs 31.65 crore during the same period the previous year. EBITDA decreased significantly from Rs 0.34 crore in September 2023 to a negative Rs 9.15 crore.
The relative strength index (RSI) for the stock is currently at 67.7 on a technical level. Trendlyne states that an RSI below 30 is oversold and one above 70 is overbought. Furthermore, the MACD is above its center and signal line at 6.2, indicating a bullish market.
About the Company
The company Nitco Ltd. is headquartered in India. The business produces and sells vitrified tiles, marble, Naturoc (gres porcelain tiles), ceramic tiles (wall and floor), and real estate development. Their manufacturing facility, which has an installed capacity of 0.18 million metric tons annually, is situated in Alibaug, Maharashtra. They have 23 warehouses, 18 sales and marketing offices, and more than 800 dealers.
Nitco Realties Pvt Ltd, the company’s fully owned subsidiary, is also involved in real estate development. The company’s three product categories are: Vitrified tiles, which source tiles from Chinese producers and produce gres porcelain tiles; Ceramic tiles, which offer a wide variety of ceramic tile products, such as glossy, matte, wood, metal, stone, leather, rustic, dirt-free, and glazed aqua finishes; and Marble, which sources various colors and designs from Italy and other nations. Under the name Nitco Tiles Pvt Ltd, Nitco Ltd was established as a private limited company on July 25, 1966.
