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Latest filing: 2026-08-14 16:18
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12 announcements match the current filters (relevance ≥ 5).
Nitin Castings Q1 PAT Drops 53% YoY to ₹2.68 Cr; Revenue Down 23% YoY
Nitin Castings reported a weak start to FY27, with Q1 revenue falling 23.1% YoY to ₹27.47 Cr compared to ₹35.75 Cr in the year-ago period. Net Profit saw a sharp decline of 53.1% YoY to ₹2.68 Cr, although it showed a sequential recovery of 53.1% from the ₹1.75 Cr reported in Q4 FY26. The bottom line was significantly supported by 'Other Income' of ₹2.60 Cr, which nearly equaled the total Net Profit. The company also appointed M/s. NKJ & Associates as Cost Auditors for FY 2026-27.
Confidence: HIGH
What changedThe company reported its first-quarter results for FY27, showing a significant contraction in scale compared to the previous year, alongside the appointment of a new Cost Auditor.
Why it mattersThe sharp YoY decline in revenue and profit indicates potential demand headwinds in the alloy steel casting sector or operational delays, which may impact the company's ability to meet its 7.2% CAGR growth target.
Q1 Revenue: ₹27.47 CrQ1 Net Profit: ₹2.68 CrYoY Revenue Growth: -23.1%YoY PAT Growth: -53.1%Other Income as % of PBT: 74.8%
📅 Short termThe stock may face downward pressure in the short term due to the substantial YoY decline in both top-line and bottom-line performance.
📈 Long termLong-term outlook depends on the company's ability to ramp up capacity utilization at its Silvassa and Vapi plants and capitalize on infrastructure projects to offset the current slowdown.
⚠ Risk flags
- Significant YoY revenue contraction
- High reliance on Other Income for profitability
- Margin volatility due to raw material cost lags
Key Highlights
Revenue from operations decreased 23.1% YoY to ₹27.47 Cr from ₹35.75 Cr.
Net Profit declined 53.1% YoY to ₹2.68 Cr, down from ₹5.71 Cr in Q1 FY26.
Sequential Net Profit improved by 53.1% compared to ₹1.75 Cr in the preceding quarter (Mar 2026).
Other Income of ₹2.60 Cr contributed significantly to the total income of ₹30.07 Cr.
Earnings Per Share (EPS) for the quarter stood at ₹5.20, down from ₹11.10 YoY.
👀 What to Watch
Investors should monitor the sustainability of the sequential margin improvement and track whether the company can restore its quarterly revenue run-rate to the ₹35-40 Cr level seen in previous quarters.
Nitin Castings Q1 Net Profit at ₹2.68 Cr; Revenue Declines 23% YoY to ₹27.47 Cr
Nitin Castings reported a weak start to FY27 with revenue from operations declining 23.2% YoY to ₹27.47 Cr. Net profit for the quarter ended June 30, 2026, fell 53.1% YoY to ₹2.68 Cr, down from ₹5.71 Cr in the year-ago period. However, on a sequential basis, net profit improved by 53.1% from ₹1.75 Cr in the March 2026 quarter. The board also appointed M/s. NKJ & Associates as Cost Auditors for the 2026-27 financial year.
Confidence: HIGH
What changedThe company has reported its first-quarter results for FY27, showing a significant contraction in business scale compared to the previous year, alongside a change in the Cost Auditor.
Why it mattersFor a small-cap company with a ₹190 Cr market cap, a 23% drop in quarterly revenue is material and indicates potential headwinds in order inflows or execution within the alloy steel casting segment.
Q1 Revenue: ₹27.47 CrQ1 Net Profit: ₹2.68 CrYoY Revenue Growth: -23.2%QoQ Net Profit Growth: +53.1%Revenue vs TTM Revenue: 18.7%
📅 Short termThe stock may see negative pressure in the short term due to the sharp YoY decline in both revenue and profitability.
📈 Long termLong-term performance depends on the company's ability to capitalize on government infrastructure projects and manage raw material (nickel) price volatility, which currently impacts margins.
⚠ Risk flags
- Significant YoY revenue contraction
- High volatility in raw material consumption costs
- Concentration in fragmented alloy steel industry
Key Highlights
Revenue from operations decreased 23.2% YoY to ₹27.47 Cr from ₹35.75 Cr.
Net profit stood at ₹2.68 Cr, a 53.1% decline compared to ₹5.71 Cr in June 2025.
Earnings Per Share (EPS) for the quarter was ₹5.20, down from ₹11.10 in the same quarter last year.
Total expenditure reduced to ₹26.65 Cr, primarily driven by a sharp drop in raw material costs to ₹15.92 Cr from ₹26.48 Cr YoY.
Other income contributed ₹2.60 Cr to the total income of ₹30.07 Cr.
👀 What to Watch
Investors should monitor the company's ability to reverse the YoY revenue decline and track capacity utilization at the Silvassa and Vapi plants, which is key to their growth strategy.
Nitin Castings Delisting Fails as Promoters Reject Rs 300 Discovered Price
Nitin Castings Ltd's voluntary delisting offer has failed after the promoters rejected the discovered price of Rs 300 per share. During the reverse book building process (Aug 5-11, 2026), public shareholders tendered 9,08,978 shares, representing approximately 17.6% of the total equity. The discovered price was higher than the floor price of Rs 273.36, but the acquirers exercised their right to decline the offer. Consequently, the company will remain listed on the BSE, and no new delisting offer can be initiated for at least six months.
Confidence: HIGH
What changedThe voluntary delisting process has been officially terminated due to the promoters' rejection of the discovered price.
Why it mattersThe failure ensures the company remains a publicly traded entity, maintaining regulatory oversight and liquidity for minority shareholders, while preventing promoter consolidation for the near term.
Discovered Price: Rs 300Floor Price: Rs 273.36Shares Tendered: 9,08,978Tendered vs Total Equity: ~17.6%Discovered Price vs Market Price: -22.7%
📅 Short termThe stock may experience volatility or price pressure as speculative positions around the delisting are unwound and tendered shares are released.
📈 Long termLimited impact on business fundamentals; the company continues to target a 7.2% CAGR in the alloy steel market through existing capacity ramp-up.
⚠ Risk flags
- Speculative volatility
- 6-month restriction on new delisting attempts
Key Highlights
Promoters rejected the Discovered Price of Rs 300 per share, which was 9.7% above the floor price.
9,08,978 shares were validly tendered, representing 61.8% of the 14,70,894 shares sought in the offer.
The floor price for the delisting was set at Rs 273.36 per share based on SEBI regulations.
A mandatory 6-month cooling-off period now applies before any new delisting offer can be made.
Lien on the tendered shares (approx 17.6% of total capital) will be released on August 13, 2026.
👀 What to Watch
Monitor the stock's liquidity and price action as the 9.08 lakh tendered shares are released back into the market; the company remains listed with a TTM P/E of 18.8x.
Nitin Castings Delisting Offer Fails as Promoters Reject Rs 300 Discovered Price
Nitin Castings' voluntary delisting attempt has failed after the promoters (Acquirers) rejected the discovered price of Rs 300 per share. During the reverse book building process (Aug 5-11, 2026), 9,08,978 shares were validly tendered, representing approximately 61.8% of the public float. The discovered price of Rs 300 was higher than the floor price of Rs 273.36, but the promoters exercised their right to reject it. Consequently, the company will remain listed on the BSE, and no new delisting offer can be initiated for at least six months.
Confidence: HIGH
What changedThe voluntary delisting process has been terminated, and Nitin Castings will continue to be a publicly traded entity on the BSE.
Why it mattersThe failure maintains the company's public listing status and liquidity, preventing the promoters from taking the company private at this stage.
Discovered Price: Rs 300Floor Price: Rs 273.36Shares Tendered: 9,08,978Tendered vs Public Float: 61.8%Cool-off Period: 6 months
📅 Short termThe stock may experience volatility or price correction as the delisting premium/speculation is removed, especially since the discovered price (Rs 300) was below the recent market price (Rs 388.4).
📈 Long termLimited structural impact on business operations; however, the promoter's intent to delist remains a factor to watch for future corporate actions.
⚠ Risk flags
- Liquidity risk due to small market cap (Rs 200 Cr)
- Potential for future delisting attempts after the cooling period
Key Highlights
Delisting offer failed as promoters rejected the Discovered Price of Rs 300 per share
Total of 9,08,978 shares were validly tendered by public shareholders across 181 bids
Bidding range from public shareholders was wide, spanning from Rs 273.36 to Rs 1,299.00
Floor price for the delisting was set at Rs 273.36 per share
Acquirers are now barred from making another delisting offer for a period of 6 months
👀 What to Watch
Investors who tendered shares should note that the lien on their shares will be released by August 13, 2026; watch for price volatility as delisting speculation subsides.
Rs 300 Discovered Price: Nitin Castings Delisting Successful as Promoter Stake Hits 90.73%
Nitin Castings' voluntary delisting process has reached the mandatory 90% threshold required by SEBI, with promoters now holding 90.73% of shares (subject to price acceptance). The Reverse Book Building Process resulted in a discovered price of Rs 300 per share, which is significantly lower than the current market price of Rs 431.5. A total of 7,53,984 shares were successfully bid at or below this price. The final delisting is contingent on the promoters formally accepting this discovered price.
Confidence: HIGH
What changedThe company has successfully concluded the bidding phase of its voluntary delisting, achieving the necessary 90% ownership threshold for privatization.
Why it mattersIf the promoters accept the discovered price, the company will be privatized and its shares will be removed from the BSE, ending public trading and liquidity for retail investors.
Discovered Price: Rs 300.00Current Market Price: Rs 431.5Post-Offer Promoter Stake: 90.73%Floor Price: Rs 273.36Successful Bids: 7,53,984 shares
📅 Short termThe stock price may face downward pressure to align with the discovered price of Rs 300, which is a ~30% discount to the current market price.
📈 Long termThe company is expected to become a private entity, meaning long-term public equity participation will cease.
⚠ Risk flags
- Discovered price is significantly below current market price
- Promoter rejection of discovered price could lead to delisting failure
- Liquidity risk for shareholders who do not exit during the offer window
Key Highlights
Discovered price of Rs 300.00 per share determined via Reverse Book Building Process
Post-offer promoter shareholding reached 90.73%, crossing the 90% regulatory threshold
Total of 7,53,984 shares successfully bid within the price range of Rs 273.36 to Rs 300.00
Floor price for the delisting offer was set at Rs 273.36 per share
1,54,994 shares were bid above the discovered price and were not included in the successful count
👀 What to Watch
Investors should monitor the post-offer public announcement to confirm if the Acquirers accept the Rs 300 discovered price; if accepted, the stock will proceed toward delisting.
Rs 300 Discovered Price: Nitin Castings Delisting Offer Successful at 90.73% Threshold
Nitin Castings' voluntary delisting offer has successfully met the SEBI-mandated 90% threshold during the Reverse Book Building Process (RBBP). The discovered price is Rs 300.00 per share, which is approximately 30% lower than the current market price of Rs 431.5. If the promoters accept this price, they will acquire 7,53,984 shares, bringing their effective holding to 90.73% of the eligible share capital. The offer is now contingent on the promoters' formal acceptance of the discovered price.
Confidence: HIGH
What changedThe delisting process has concluded its bidding phase with enough shares tendered at or below Rs 300 to allow the company to delist, subject to promoter approval.
Why it mattersIf the promoters accept the price, the company will be privatized and its shares will be removed from the BSE, ending public liquidity for the stock.
Discovered Price: Rs 300.00Floor Price: Rs 273.36Post-Offer Promoter Holding: 90.73%Successful Bids: 7,53,984 sharesCurrent Market Price: Rs 431.5
📅 Short termThe stock price may experience downward pressure to align with the discovered price of Rs 300 if the market anticipates promoter acceptance.
📈 Long termIf delisted, the company will operate as a private entity; if the delisting fails due to price rejection, the stock remains listed but may face sentiment-driven volatility.
⚠ Risk flags
- Discovered price is ~30% below current market price
- Promoters may still reject the discovered price
- Loss of liquidity for remaining shareholders if delisting proceeds
Key Highlights
Discovered price of Rs 300.00 per share established via reverse book building, compared to a floor price of Rs 273.36
Post-offer promoter holding reached 90.73% of 'remaining shares', satisfying the minimum 90% requirement for delisting
A total of 7,53,984 equity shares were successfully bid at or below the discovered price of Rs 300.00
1,54,994 shares were bid above the discovered price and will not be accepted at the current price level
The delisting offer size was 14,70,894 equity shares, representing the entire public shareholding
👀 What to Watch
Monitor for the upcoming public announcement regarding whether the promoters accept the Rs 300.00 discovered price or choose to make a counter-offer. Investors should note the significant gap between the discovered price and the current market price.
Rs 273.36 Delisting Offer: Independent Directors Review Promoter Bid for 28.61% Stake
The Promoter Group of Nitin Castings Ltd has proposed to delist the company by acquiring the remaining 28.61% public stake (14,70,894 shares). The proposed offer price is Rs 273.36 per share, which represents a significant discount of approximately 45% to the current market price of Rs 496.9. The Committee of Independent Directors reviewed the offer on August 1, 2026, and is scheduled to publish its formal recommendations on August 3, 2026. This follows a process that began with an initial announcement in January 2026.
Confidence: HIGH
What changedThe Independent Directors have formally reviewed the promoter's delisting bid, moving the regulatory process toward the final shareholder acceptance stage.
Why it mattersA successful delisting would result in the company being taken private and its shares being removed from the BSE. The large gap between the offer price and the market price indicates potential for significant price volatility or a failed delisting attempt.
Offer Price: Rs 273.36Current Market Price: Rs 496.9Stake to be Acquired: 28.61%Shares to be Acquired: 14,70,894Offer Price vs Market Price: ~45% discount
📅 Short termExpect high volatility in the coming days as the market reacts to the Independent Directors' recommendation and the wide gap between the offer price and current trading price.
📈 Long termIf the delisting is successful, the company will cease to be public. If it fails, the stock's valuation will return to being driven by its fundamental performance in the castings industry.
⚠ Risk flags
- Significant discount of offer price to market price
- Risk of delisting failure if shareholders demand a higher price
- Potential liquidity issues if the delisting process is prolonged
Key Highlights
Offer to acquire 14,70,894 equity shares, constituting 28.61% of the total equity capital
Proposed Offer Price set at Rs 273.36 per share, significantly below the current market price of Rs 496.9
Independent Directors' recommendations to be published in newspapers on August 3, 2026
Delisting process follows the Detailed Public Announcement published on July 27, 2026
Acquirers include Nirmal B. Kedia, Nitin S. Kedia, and Citrus Castings Private Limited
👀 What to Watch
Investors should closely monitor the Independent Directors' recommendation on August 3, 2026, and understand that the final exit price will be determined through a reverse book-building process, which may differ from the current offer price.
Rs 273.36 Floor Price: Nitin Castings Announces Voluntary Delisting Bidding Dates
The promoters of Nitin Castings have issued a formal Letter of Offer to voluntarily delist the company from the BSE. The floor price is set at Rs 273.36 per share, which is significantly lower than the current market price of Rs 550.9. The bidding process, conducted via Reverse Book Building, will open on August 5, 2026, and close on August 11, 2026. The success of the delisting depends on the promoters reaching a 90% shareholding threshold at a price they are willing to accept.
Confidence: HIGH
What changedThe delisting proposal has moved from an initial announcement to a formal offer stage with specific bidding timelines and a defined floor price.
Why it mattersIf successful, the company will be taken private, providing an exit for public shareholders; if it fails due to high price discovery, the stock may face volatility as the delisting premium evaporates.
Floor Price: Rs 273.36Current Market Price: Rs 550.9Floor Price vs Market Price: 49.6%Promoter Holding: 71.39%Bid Opening Date: August 05, 2026
📅 Short termExpect high volatility and potential price discovery movements as the market reacts to the bidding window and the low floor price relative to current trading levels.
📈 Long termIf delisted, the company will cease to be publicly traded; if the offer fails, the company remains listed with a focus on its 7.2% industry growth CAGR.
⚠ Risk flags
- Significant gap between floor price and market price
- Risk of delisting failure if 90% threshold is not met
- Potential for promoters to reject the discovered price
Key Highlights
Floor price for the delisting offer is set at Rs 273.36 per share
Bidding window is scheduled from August 5, 2026, to August 11, 2026
Promoter group currently holds 71.39% of the total equity shares
Letter of Offer to be dispatched to all public shareholders by July 29, 2026
Reverse Book Building process will determine the final 'Discovered Price'
👀 What to Watch
Investors should monitor the Reverse Book Building process; the significant gap between the floor price and current market price suggests the final exit price may need to be much higher for the offer to succeed.
Nitin Castings Ltd: Promoters propose voluntary delisting at Rs 273.36 floor price
The promoters of Nitin Castings Ltd (holding 71.39%) have formally initiated a voluntary delisting process from the BSE. The floor price has been set at Rs 273.36 per share, which is a significant 50.4% discount to the current market price of Rs 550.9. The final exit price will be determined through a Reverse Book Building process, with the bidding window scheduled for August 05 to August 11, 2026. The offer's success is contingent on the promoters reaching a 90% shareholding threshold.
Confidence: HIGH
What changedThe company has moved from the intention stage to the execution stage of voluntary delisting by issuing the formal Letter of Offer and setting the bidding timeline.
Why it mattersA successful delisting will result in the company being taken private, providing an exit for retail investors. The large gap between the floor price and the market price suggests that the final exit price could be a point of contention between the promoters and public shareholders.
Floor Price: Rs 273.36Current Market Price: Rs 550.9Floor Price vs CMP: -50.4%Promoter Holding: 71.39%Success Threshold: 90.0%
📅 Short termThe stock price is likely to remain volatile and trade near the anticipated exit price rather than the floor price as investors speculate on the outcome of the reverse book building.
📈 Long termIf successful, the company will be delisted and no longer trade on the BSE. If it fails, the stock will continue to trade based on its fundamentals in the castings and forgings industry.
⚠ Risk flags
- Discovered price may be rejected by promoters if it is too high
- Failure to reach the 90% minimum acceptance threshold
- Liquidity may drop significantly if the delisting process is prolonged or fails
Key Highlights
Floor price set at Rs 273.36 per share for the voluntary delisting offer
Bidding period for public shareholders opens on August 05 and closes on August 11, 2026
Promoters currently hold 71.39% of the equity, requiring an additional 18.61% for a successful delisting (90% threshold)
The floor price is approximately 50% lower than the current market price of Rs 550.9
Acquirers include Mr. Nirmal B. Kedia, Mr. Nitin S. Kedia, and Citrus Castings Private Limited
👀 What to Watch
Shareholders should monitor the 'Discovered Price' during the bidding window (Aug 05-11). If the discovered price is significantly higher than the floor price, the promoters may choose to accept it, offer a counter-price, or reject it, causing the delisting to fail.
71.39% Promoter-Held Nitin Castings Forms IDC for Voluntary Delisting Offer
Nitin Castings has formally constituted a Committee of Independent Directors (IDC) to evaluate a voluntary delisting proposal from BSE, following a Detailed Public Announcement on July 27, 2026. The IDC, consisting of three members, is required to provide reasoned recommendations on the offer at least two working days before the bidding period begins. With promoters currently holding 71.39% of the company, the delisting success depends on reaching the 90% shareholding threshold through a reverse book-building process. This move follows a period where the stock has seen a 17.3% decline over the last 12 months.
Confidence: HIGH
What changedThe company has moved from a delisting proposal to the formal regulatory stage of forming an Independent Director Committee to review the offer.
Why it mattersA successful delisting would result in the company being taken private, requiring promoters to buy out minority shareholders at a price determined by reverse book building.
Promoter Holding: 71.39%Market Capitalization: Rs 283 CrIDC Members: 3TTM Revenue: Rs 147 CrCurrent Share Price: Rs 550.9
📅 Short termThe stock price is likely to be driven by speculation regarding the delisting floor price and the potential premium offered by promoters.
📈 Long termIf successful, the company will be delisted; if the offer fails to reach the 90% threshold, the company remains listed but may face liquidity challenges.
⚠ Risk flags
- Reverse book building price discovery risk
- Failure to reach 90% acceptance threshold
- Potential for unattractive offer price
Key Highlights
Detailed Public Announcement (DPA) published on July 27, 2026, initiating the formal delisting process.
Committee of Independent Directors (IDC) formed with 3 members to provide recommendations to shareholders.
New Independent Director Meghna Makda was appointed on July 25, 2026, specifically to serve on the IDC.
Promoter holding stands at 71.39%, requiring an additional 18.61% stake to reach the 90% delisting threshold.
IDC recommendations and voting patterns must be published at least 2 working days before bidding starts.
👀 What to Watch
Investors should monitor the upcoming publication of the IDC's reasoned recommendations and the announcement of the floor price and bidding timelines.
Nitin Castings Promoters Issue Detailed Public Announcement for Voluntary Delisting
Promoters of Nitin Castings, including Nirmal B. Kedia and Nitin S. Kedia, have issued a Detailed Public Announcement (DPA) to voluntarily delist the company from the BSE. This follows the initial announcement made on January 30, 2026, and the receipt of in-principle approval from BSE on July 23, 2026. The promoters currently hold 71.39% of the company, and the delisting process will require them to reach a 90% shareholding threshold through a reverse book-building process. The company has a market capitalization of Rs 283 Cr and TTM revenue of Rs 147 Cr.
Confidence: HIGH
What changedThe delisting proposal has moved to the execution phase following regulatory approval from the BSE and the issuance of the formal public announcement.
Why it mattersA successful delisting will result in the company's shares being removed from the exchange, providing an exit for retail investors but ending the company's public trading history.
Promoter Holding: 71.39%Public Shareholding: 28.61%Market Capitalization: Rs 283 CrBSE In-principle Approval Date: July 23, 2026Face Value: Rs 5
📅 Short termThe stock price is likely to be influenced by the anticipated delisting price and investor sentiment regarding the success of the offer.
📈 Long termIf successful, the company will become a private entity; if the delisting fails (e.g., due to high price discovery), the company will remain listed.
⚠ Risk flags
- Delisting failure if the 90% threshold is not met
- Promoters may reject the discovered price if it exceeds their valuation
- Potential for price volatility during the bidding period
Key Highlights
Initial Public Announcement (IPA) for delisting was first issued on January 30, 2026
BSE granted in-principle approval for the delisting proposal on July 23, 2026
Promoters currently hold 71.39% of the equity, requiring the acquisition of shares from the 28.61% public float
The Detailed Public Announcement (DPA) was published in national newspapers on July 27, 2026
The offer involves equity shares with a face value of Rs 5 each
👀 What to Watch
Public shareholders should monitor the upcoming reverse book-building dates and the floor price to decide on participating in the exit offer.
Nitin Castings Ltd: Detailed Public Announcement Issued for Voluntary Delisting from BSE
The promoters of Nitin Castings, who currently hold 71.39% of the company, have issued a Detailed Public Announcement (DPA) to voluntarily delist the equity shares from BSE. This follows the initial announcement made on January 30, 2026, and the receipt of in-principle approval from BSE on July 23, 2026. The acquirers, including Mr. Nirmal B. Kedia and Mr. Nitin S. Kedia, aim to acquire the remaining 28.61% public shareholding. The process will follow the SEBI Delisting Regulations, 2021, involving a reverse book-building process to determine the exit price.
Confidence: HIGH
What changedThe delisting process has progressed from an initial proposal to a formal offer following regulatory approval from the stock exchange.
Why it mattersA successful delisting will result in the company becoming a private entity, removing the ability for retail investors to trade the stock on public exchanges.
Promoter Holding: 71.39%Public Shareholding to be Acquired: 28.61%BSE In-principle Approval Date: July 23, 2026Face Value: ₹5/-
📅 Short termThe stock price is likely to be volatile and may move toward the anticipated delisting price as the bidding period approaches.
📈 Long termIf the delisting is successful, the company will no longer be publicly traded; if it fails, the stock will remain listed but may face liquidity challenges.
⚠ Risk flags
- Price discovery risk (promoters may reject the price discovered via reverse book-building)
- Liquidity risk for shareholders who do not tender if the delisting succeeds
Key Highlights
Promoter group currently holds 71.39% of the total equity share capital
BSE granted in-principle approval for the delisting offer on July 23, 2026
Detailed Public Announcement (DPA) published on July 27, 2026, in major newspapers
The offer aims to acquire all equity shares held by public shareholders (approx. 28.61%)
Face value of the equity shares being delisted is ₹5/- each
👀 What to Watch
Investors should review the full Detailed Public Announcement for the floor price and bidding schedule to participate in the reverse book-building process.
