506532

Nitta Gelatin share price & financials

Price
₹1,576.5
Market cap
₹1.5k Cr
Sector
Chemicals

What Nitta Gelatin does

Nitta Gelatin India Limited manufactures and supplies gelatin used by pharmaceutical and nutraceutical companies to make hard and soft gelatin capsules, and is also a pioneer in functional Collagen Peptide for the nutrition and wellness market. The company is a joint venture between the Government of Kerala (through the Kerala State Industrial Development Corporation) and its overseas technical partner Nitta Gelatin Inc., Japan. Manufacturing spans an Ossein division and a Gelatin division in Kerala and a Reva division in Gujarat, supplemented by raw-material production at subsidiary Bamni Proteins Ltd in Maharashtra, with products sold both domestically and exported overseas.

Segments

  • Gelatin
  • Collagen Peptide
Manufacturing divisions (own)
3 - Ossein Division (Koratty, Kerala), Gelatin Division (Kakkanad, Kochi, Kerala), Reva Division (Jhagadia, Gujarat)
Manufacturing subsidiary
Bamni Proteins Ltd, Chandrapur, Maharashtra
States with manufacturing presence
3 (Kerala, Gujarat, Maharashtra)
Promoter / technical partner
Nitta Gelatin Inc., Japan
Government promoter
Government of Kerala, via Kerala State Industrial Development Corporation (KSIDC)
Market presence
Sells domestically and exports to overseas markets
Founded 1975Headquarters Ernakulam, Kerala, India Company website

Quarterly results

Q1 FY27: revenue up 1.4%, net profit up 31.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue132 135 129 139 138 +5%150 +11%162 +26%141 +1%
EBITDA25 27 23 27 26 +4%38 +41%45 +96%34 +26%
Net profit20 24 19 19 26 +30%31 +29%34 +79%25 +32%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +84.1% 1Y

₹1.0k₹1.5k₹2.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26

1Y: ₹897.4 on 10 Sept 2025 → ₹1,652. High ₹2,031.3 (10 Jul 2026), low ₹777.05 (23 Mar 2026).

Financials, as filed

Revenue grew 1.3% a year over 3 years, FY23 to FY26. Operating margin widened to 23.1%.

Year endingFY23FY24FY25FY26
Revenue₹566 Cr₹472 Cr₹527 Cr₹589 Cr
Operating profit₹113 Cr₹110 Cr₹103 Cr₹136 Cr
Operating margin20.0%23.3%19.5%23.1%
Interest₹4 Cr₹2 Cr₹2 Cr₹2 Cr
Depreciation₹15 Cr₹15 Cr₹12 Cr₹15 Cr
Net profit₹74 Cr₹82 Cr₹82 Cr₹110 Cr
Net margin13.1%17.4%15.6%18.7%
Cash from operations₹78 Cr₹79 Cr₹61 Cr₹125 Cr
Free cash flow₹58 Cr₹67 Cr₹37 Cr₹73 Cr
ROCE31.0%37.0%26.0%31.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹9 Cr₹9 Cr₹9 Cr₹9 Cr₹9 Cr₹9 Cr
Reserves₹154 Cr₹176 Cr₹231 Cr₹307 Cr₹443 Cr₹486 Cr
Borrowings₹75 Cr₹80 Cr₹33 Cr₹27 Cr₹21 Cr₹9 Cr
Other liabilities₹49 Cr₹51 Cr₹53 Cr₹57 Cr₹68 Cr₹66 Cr
Total liabilities₹287 Cr₹316 Cr₹326 Cr₹400 Cr₹541 Cr₹570 Cr
Fixed assets₹108 Cr₹102 Cr₹109 Cr₹106 Cr₹144 Cr₹148 Cr
Capital work in progress₹2 Cr₹7 Cr₹7 Cr₹8 Cr₹5 Cr₹15 Cr
Investments₹4 Cr₹4 Cr₹5 Cr₹5 Cr₹8 Cr₹5 Cr
Other assets₹172 Cr₹202 Cr₹206 Cr₹281 Cr₹385 Cr₹403 Cr
Total assets₹287 Cr₹316 Cr₹326 Cr₹400 Cr₹541 Cr₹570 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public trimmed −0.66 pp while DIIs added +0.60 pp. The shareholder count shrank 2% to 11,285.

Promoters
74.5%
FIIs
0.1%
DIIs
0.9%
Public
24.5%

Since Jun 2025

  • Public −0.66 pp
  • DIIs +0.60 pp
  • FIIs +0.05 pp

How it drifted, 12 quarters

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 74.5%, DIIs 0.1%, Public 25.4%.Dec '23: Promoters 74.5%, DIIs 0.1%, Public 25.4%.Mar '24: Promoters 74.5%, DIIs 0.1%, Public 25.4%.Jun '24: Promoters 74.5%, FIIs 0.0%, DIIs 0.1%, Public 25.4%.Sep '24: Promoters 74.5%, DIIs 0.1%, Public 25.4%.Dec '24: Promoters 74.5%, DIIs 0.1%, Public 25.4%.Mar '25: Promoters 74.5%, DIIs 0.1%, Public 25.4%.Jun '25: Promoters 74.5%, DIIs 0.3%, Public 25.2%.Sep '25: Promoters 74.5%, DIIs 0.6%, Public 24.9%.Dec '25: Promoters 74.5%, DIIs 0.8%, Public 24.8%.Mar '26: Promoters 74.5%, DIIs 0.9%, Public 24.6%.Jun '26: Promoters 74.5%, FIIs 0.1%, DIIs 0.9%, Public 24.5%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Nitta Gelatin above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Nitta Gelatin Inc 42.96%unchanged
Kerala State Industrial Development Corporation NBFC / DFI31.53%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹1652, this stock must grow earnings at 6% every year for 7 years. Our analysis caps realistic growth at ~16%. At that growth it is worth ₹2857 — upside of 73%.

Growth the price implies
6.0% a year
for 7 years, fading to 4%
It has actually compounded at
14.1% a year
net profit, FY23–FY26 · EPS 16.3%
The gap
-0.1 pp
73% downside if it only repeats history
Price today ₹1,652 Value at the reference growth ₹2,857.31

Change the assumptions yourself →

Learn to analyse Nitta Gelatin

Guides on how to read this kind of business and the numbers that matter.