Nitin Spinners Limited, founded in 1992 in Bhilwara, Rajasthan, has emerged as one of India's leading manufacturers of high-quality cotton yarn, knitted fabrics, and finished woven fabrics. The company specializes in the production of cotton and blended yarns, knitted fabrics, and finished and printed woven fabrics. With a presence in over 50 countries and a strong distribution network, Nitin Spinners has established itself as one of the leading global players in the textile industry.
The company was incorporated on October 15, 1992, as a private limited company with the name Nitin Spinners Pvt Ltd and was later converted into a public limited company on November 15, 1994. Today, Nitin Spinners is an ISO 9001:2015 certified company and a Government of India recognized Export House. The company also holds Environment and Energy Management System certifications (ISO 14000 and ISO 50001), OSHAS for occupational safety, and SA 8000 for Social accountability.
Nitin Spinners has demonstrated robust financial performance and growth trajectory. For the full year ended March 2025 (FY 2025), the company reported a significant increase in net profit by 33.39% to Rs 175.43 crore compared to Rs 131.52 crore in the previous year. Sales rose by 13.77% to Rs 3,305.65 crore in FY 2025 against Rs 2,905.65 crore in FY 2024.
In the fourth quarter (Q4 FY25), the company's net profit rose by 18.38% to Rs 46.37 crore compared to Rs 39.17 crore in Q4 FY24. Sales increased by 5.07% to Rs 841.29 crore in Q4 FY25 against Rs 800.71 crore in Q4 FY24. The company also demonstrated strong performance in Q3 FY25, with net profit rising by 41.04% to Rs 44.78 crore compared to Rs 31.75 crore in Q3 FY24. Sales increased by 11.79% to Rs 838.87 crore in Q3 FY25.
As of May 27, 2025, Nitin Spinners has a market capitalization of Rs 2,141.98 crore. The company trades at a P/E ratio of 12.21 and P/B ratio of 1.87. The current dividend yield stands at 0.79%. In the quarter ending March 2024, Nitin Spinners declared a dividend of Rs 2.50. The company's dividend payout has been low at 9.61% of profits over the last 3 years.
• FY 2025 Performance: Net Profit of Rs 175.43 crore (up 33.39%), Sales of Rs 3,305.65 crore (up 13.77%)
• Q4 FY25 Performance: Net Profit of Rs 46.37 crore (up 18.38%), Sales of Rs 841.29 crore (up 5.07%)
• Q3 FY25 Performance: Net Profit of Rs 44.78 crore (up 41.04%), Sales of Rs 838.87 crore (up 11.79%)
• Market Capitalization: Rs 2,141.98 crore (as of May 27, 2025)
• Promoter Holding: 56.62% (as of March 2025)
• P/E Ratio: 12.21
• P/B Ratio: 1.87
• Dividend Yield: 0.79%
Nitin Spinners boasts an impressive manufacturing infrastructure. The company has an installed capacity of 3,07,344 spindles and 3,488 rotors, producing 75,000 tons of yarn per annum. Additionally, it operates 63 knitting machines producing 8,500 tons of knitted fabrics per annum and 168 looms with dyeing, printing, and finishing capacities to make approximately 300 lakh meters of fabrics per annum.
The company's state-of-the-art infrastructure is spread across 12 units at 2 locations, equipped with the latest technology and machinery from global leaders like Rieter, Trutzschler, LMW, Uster, Karl Mayer, Picanol, Benninger, and Monfort. Nitin Spinners consistently invests in best-in-class technology to enhance cost efficiency and production turnaround times, with the ability to reprocess waste material to optimize raw material costs.
Nitin Spinners offers a diverse product portfolio across various textile segments:
* Yarns: The company's range includes cotton ring spun carded yarns (Ne 12 to Ne 50), cotton ring spun combed yarns (Ne 12 to Ne 30), cotton compact ring spun combed yarns (Ne 12 to Ne 100), cotton compact ring spun carded yarns (Ne 12 to Ne 30), poly/cotton blended ring spun yarns (Ne 10 to 50), and core spun yarns. Currently, Nitin Spinners has a capacity of 28,000 spindles for manufacturing blended yarn.
* Knitted Fabrics: The company produces single jersey, lycra blended fabrics, pique structures, interlock structures, rib structures, and 3T fleece fabrics.
* Finished & Printed Fabrics: This segment includes cotton, cotton spandex fabrics, poly/cotton, poly/cotton spandex fabrics with various special finishes like Teflon and wrinkle-free, and various weaves including twills, gabardines, broken twill, ripstop, canvas, and dobby.
Nitin Spinners has announced a massive Rs 1,100 crore investment to significantly expand its production capabilities, aiming to strengthen its position in the textile industry. This strategic move involves increasing spinning, weaving, dyeing, and finishing capacities. Out of the total investment, Rs 800 crores will be financed through debt and the balance from internal accruals.
With the addition of approximately 66,096 new spindles, the spinning capacity will increase by 22.4 TPA from the current 110 TPA, bringing the total to around 132 TPA. The additional 35 million meters of woven fabric capacity will allow the company to strengthen its presence in formal wear, fashion wear, and casual wear segments.
As a leading exporter from India, Nitin Spinners specializes in the production and export of cotton & blended yarns, finished & printed fabrics, and knitted textiles, with an extensive reach to over 50 countries. Exports constituted 72.56% of the total revenue during FY22, mainly led by robust demand for cotton yarn in international markets and the introduction of new range of products.
Nitin Spinners is ISO 14001:2015 - Environment Management certified and focuses heavily on sustainability from water harvesting, recycling and reuse, to captive renewable energy plants. The company has been able to use sustainable recycled fibres, recycled cotton, organic cotton and blends of fibres like viscose and modal. The company recently acquired an 18.12% stake in CGE II Hybrid Energy for 18 MW renewable power supply by August 2025, demonstrating its commitment to sustainable energy solutions.
Nitin Spinners has demonstrated robust financial performance, achieving record revenue and profitability in FY 2025, driven by high operational efficiency and a significant capital expenditure plan aimed at enhancing value addition. CARE has upgraded Nitin Spinners' long-term rating to CARE A Positive with total facilities of Rs 2,442.32 crore, and promoter holding has increased to 56.62% as of March 2025 from 56.47% as of June 2024, indicating strong promoter confidence.
However, challenges persist, particularly in the synthetic fiber market, where higher raw material costs hinder competitiveness. According to analyst recommendations, Nitin Spinners has a target price of Rs 602, representing a potential upside of 52.06% compared to the current price, with 2 analysts providing ratings.
