NITIRAJ
Nitiraj Engineers financials
- Market cap
- ₹239 Cr
- Sector
- Consumer Durables
What Nitiraj Engineers Limited does
Nitiraj Engineers manufactures electronic weighing scales and systems under its PHOENIX brand, spanning milligram-accuracy jewellery scales, tabletop and platform scales, crane scales and up to 100-tonne weighbridges, sold to jewellers, retailers, hospitals, banks, post offices and government departments. It also makes currency counting and counterfeit-note detection machines, and home/hotel security & automation products such as access-control systems, video/audio door phones and RFID locks. The company has more recently ventured into drone manufacturing for agricultural spraying and has been authorised by the DGCA as a Remote Pilot Training Organization. Manufacturing is based out of a company-owned facility in Dhule, Maharashtra, supported by branch offices and a dealer network across India plus exports to a small set of countries.
Segments
- Electronic Weighing Scales & Systems
- Currency Counting Machines
- Security & Automation Products
- Health Measurement Products
- Digital Fare Meters
- Drone Manufacturing
- Manufacturing facility
- Dhule, Maharashtra — 8-acre site, 4 buildings; ~50,000 sq ft added in recent expansion
- Production capacity
- 3,000 machines/day
- Annual scale production
- 100,000+ scales/year
- Capacity utilisation
- ~50%
- Branch offices
- 20 (Maharashtra, Odisha, Chhattisgarh)
- Dealer network
- 400+ across India
Quarterly results
Q1 FY27: revenue up 78.7%, net profit up 418.8% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13 | 37 | 23 | 11 | 16 +30% | 11 −69% | 8 −64% | 19 +79% |
| EBITDA | 1 | 10 | 1 | 0 | 3 +287% | 1 −88% | -0 −140% | 2 +9700% |
| Net profit | 0 | 7 | -0 | -0 | 2 +8050% | 0 −94% | -1 −967% | 1 +419% |
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 +10.0% 1Y
1Y: ₹211.99 on 10 Sept 2025 → ₹233.25. High ₹233.25 (11 Sept 2026), low ₹171.85 (9 Jun 2026).
Financials, as filed
Revenue grew 0.2% a year over 3 years, FY23 to FY26. Operating margin held at 7.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹46 Cr | ₹100 Cr | ₹77 Cr | ₹46 Cr |
| Operating profit | ₹4 Cr | ₹18 Cr | ₹9 Cr | ₹4 Cr |
| Operating margin | 7.7% | 18.3% | 12.3% | 7.6% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹4 Cr | ₹3 Cr | ₹4 Cr | ₹4 Cr |
| Net profit | ₹-0 Cr | ₹12 Cr | ₹5 Cr | ₹1 Cr |
| Net margin | -0.8% | 12.0% | 6.3% | 2.3% |
| Cash from operations | ₹1 Cr | ₹18 Cr | ₹14 Cr | ₹-3 Cr |
| Free cash flow | ₹-0 Cr | ₹16 Cr | ₹8 Cr | ₹-9 Cr |
| ROCE | 0.5% | 21.0% | 8.0% | 1.8% |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr | ₹10 Cr |
| Reserves | ₹61 Cr | ₹58 Cr | ₹57 Cr | ₹69 Cr | ₹74 Cr | ₹72 Cr |
| Borrowings | ₹1 Cr | ₹4 Cr | ₹3 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other liabilities | ₹7 Cr | ₹6 Cr | ₹9 Cr | ₹11 Cr | ₹10 Cr | ₹11 Cr |
| Total liabilities | ₹80 Cr | ₹78 Cr | ₹80 Cr | ₹91 Cr | ₹94 Cr | ₹93 Cr |
| Fixed assets | ₹28 Cr | ₹36 Cr | ₹34 Cr | ₹33 Cr | ₹41 Cr | ₹39 Cr |
| Capital work in progress | ₹11 Cr | ₹2 Cr | ₹2 Cr | ₹2 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹2 Cr | ₹2 Cr | ₹1 Cr | ₹12 Cr | ₹4 Cr | ₹8 Cr |
| Other assets | ₹38 Cr | ₹37 Cr | ₹43 Cr | ₹44 Cr | ₹49 Cr | ₹46 Cr |
| Total assets | ₹80 Cr | ₹78 Cr | ₹80 Cr | ₹91 Cr | ₹94 Cr | ₹93 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
The ownership split has held steady since Jun 2025. The shareholder count shrank 17% to 3,598.
- Promoters
- 69.1%
- Public
- 30.9%
Since Jun 2025
- Promoters 0.00 pp
- FIIs 0.00 pp
- Public 0.00 pp
How it drifted, 12 quarters
Ownership split by quarter, oldest first. Sep '23: Promoters 69.1%, Public 30.9%.Dec '23: Promoters 69.1%, Public 30.9%.Mar '24: Promoters 69.1%, Public 30.9%.Jun '24: Promoters 69.1%, Public 30.9%.Sep '24: Promoters 69.1%, Public 30.9%.Dec '24: Promoters 69.1%, Public 30.9%.Mar '25: Promoters 69.1%, FIIs 0.1%, Public 30.9%.Jun '25: Promoters 69.1%, Public 30.9%.Sep '25: Promoters 69.1%, Public 30.9%.Dec '25: Promoters 69.1%, Public 30.9%.Mar '26: Promoters 69.1%, Public 30.9%.Jun '26: Promoters 69.1%, Public 30.9%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Nitiraj Engineers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Rajesh Raghunath Bhatwal | 44.91% | unchanged |
| Shakuntala Rajesh Bhatwal | 23.37% | unchanged |
| Yi Hung Sin | 7.98% | unchanged |
| Atish Kumar | 2.54% | unchanged |
| Suresh Champalal Kakaria Huf | 2.21% | unchanged |
| Priya Aashish Kakaria | 1.43% | unchanged |
| Meerabai Raghunath Bhatwal | 0.61% | unchanged |
| Prachi Rajesh Bhatwal | 0.15% | unchanged |
| Deepa Khatri | 0.03% | unchanged |
| Alok Raghunath Bhatwal | 0.00% | 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.
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