Nitin Castings Ltd
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BSE Code:
508875
NSE Code:
NITINCAST
Business Profile
Business Profile
Nitin Alloys Global (NITINALOY), started in February 1998, is engaged in the business of manufacturing and marketing alloy steel castings. Formerly known as Aditya Leasing, it got its present name with effect from Sep. 28, 2006. The company is part of the Kedia group, which also includes Nitin Castings, Arrowpoint Technologies, and Hopewell Builders.
The ISO 9001:2000 certified company has its foundry located at Silvassa in the Union Territory of Dadra & Nagar Haveli manufacturing all grades of steel, wear-resistance steel, stainless steel and heat-resistant steel castings with an installed capacity of 1,200 MTPA using centrifugal and sand casting methods. The product portfolio includes bowl shells, bowl extensions, front hubs, balls for ball valves, seat rings, casings, impellers, sleeves, and other products. Raw materials used by the company are ferroalloys and stainless steel s scrap.
Manufactured products cater to refineries; steel, cement and chemical plants; furnaces; pumps and valves; seamless steel tube manufacturers; heavy engineering industries; turnkey contractors; earth moving equipment manufacturers; power plants; oil exploration; general engineering; gaskets; decanter; and sponge iron industries. The client list includes Zuari Agro Chemicals, Southern Petro Chemical Industries Corporation, Hindusthan Organic Chemicals, Andhra Petrochemicals, Steel Authority of India, Tata Steel, and Jindal Iron & Steel to name a few.
The registered office is at Prestige Precinct, 3rd Floor, Almeida Road, Thane (West), Thane-400601, Maharashtra.
Financials
Nitin Alloys Global registered a 11.98% growth in net profits to Rs 7.76 million for the quarter ended June 2008 from a profit of Rs 6.93 million for the quarter ended June 2007.
Net sales rose 27.38% to Rs 105.15 million for the quarter ended June 2008 from Rs 82.55 million for the quarter ended June 2007.
Total income was Rs 105.62 million for the quarter ended June 2008.
The earnings per share (EPS) of the company stood at Rs 5.53 for the quarter ended June 2008.