NIBEIndustrials

NIBE Limited

Aerospace & Defense · ISIN INE149O01018 · BSE 535136 · NSE EQ · FV ₹10
Last price
₹1,250
+3.14%today
What this company does

NIBE Limited operates in Aerospace & Defense, part of the Industrials sector. It booked ₹63 cr of revenue in its latest quarter (Q1 FY27) and kept -17.5% of sales as profit.

In the report:
25out of 100
Equitytale Health Score
Fragile

Healthier than 25% of companies in Industrials, on the 5 of 6 measures we could read for it. Each measure is ranked against the 234–290 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
33

At close. Not part of the score.

Profitability & returns4

How much profit it earns on the money it employs

Balance sheet33

How much it owes, and whether earnings cover the interest

Cash quality5

Whether reported profit actually arrives as cash

Valuation19

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Some things to watch
Strengths
Promoters hold 51%
No promoter shares pledged
Watch-outs
! Currently loss-making
! Thin -17.5% net margin
! Sales down 24% vs last year
! Low -12.7% return on equity
! Operating cash flow is negative

What if I invest in NIBE?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 10% a year, it would become
₹20.15 lakh

The starting rate is a round number, not a view on this company — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹1,250 +3.14%
latest close · 2026-09-17
52-wk low ₹1,18842 sessions so far52-wk high ₹1,570
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/B ratio5.48High
Below bookModerateHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity-12.7%Loss
WeakFairStrong ▸15%
Return on capital-11.2%Loss
WeakFairStrong
Net margin-17.5%Loss
ThinDecentStrong
EBITDA margin-11.9%Loss
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.30Comfortable
LowModerateHigh ▸1
Interest cover-3.4×Risky
RiskyOkayStrong ▸5×
Current ratio1.49Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹1,908 cr
Book value
₹228
EPS
₹-7.34
latest quarter
Net debt
₹83 cr
owes more than its cash
Enterprise value
₹1,990 cr
EBITDA
₹-30 cr
annualised
EBIT
₹-47 cr
annualised
Operating margin
-18.7%
Return on assets
-6.8%
Earnings yield
P/S
7.57
Sales / share
₹165.2
Tax rate
Face value
₹10
Shares
1.5 cr
Working capital
₹113 cr
Current assets
₹346 cr
Current liabilities
₹233 cr
Delivery %
51.6%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
One year's profit is a one-off (far above the multi-year norm), so its recurring earnings power is unclear.
Models span ₹59₹129, midpoint ₹94

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹63 cr
Other Income₹2 cr
Total Income₹65 cr
Cost of Materials₹31 cr
Purchases of Stock-in-Trade₹35 cr
Inventory Change (±)₹-14 cr
Employee Benefit Expense₹7 cr
Finance Costs₹3 cr
Depreciation & Amortisation₹4 cr
Other Expenses₹14 cr
Total Expenses₹80 cr
Profit before Tax₹-15 cr
Tax Expense₹-3 cr
Net Profit₹-12 cr
Net margin on total income-18.4%
Where the money goes · Q1 FY27
% of total spend
Materials + stock-in-trade₹52 cr65.0%
Employee benefit expense₹7 cr8.2%
Finance costs₹3 cr4.3%
Depreciation & amortisation₹4 cr5.4%
Other expenses₹14 cr17.1%
Total income ₹65 cr

The company made a net loss of ₹12 cr this quarter — income covered only 81 of every ₹100 it spent on costs and tax.

Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue59 cr260 cr63 cr
Total income60 cr261 cr65 cr
Expenses81 cr224 cr80 cr
Profit before tax-22 cr37 cr-15 cr
Tax-3 cr10 cr-3 cr
Net profit (owners' share)-17 cr29 cr-11 cr
Net margin (owners' share, on revenue)-28.9%11.3%-17.5%
EPS (₹)-11.7620.11-7.34
YoY (latest quarter): total income -22.3% · net profit
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹653 cr
Shareholder equity
₹348 cr
parent shareholders
Total debt
₹107 cr
Cash
₹25 cr
Cash flow · H1 FY26
Operating
₹-6 cr
Investing
₹-12 cr
Financing
₹14 cr
Peer comparison
Aerospace & Defense · by market value
CompanyPriceMarket capP/E
Hindustan Aeronautics Limited₹4,788₹3.20 L cr50.4
Bharat Electronics Limited₹395₹2.89 L cr68.7
Centum Electronics Limited₹4,343₹60,214 cr142.7
Bharat Dynamics Limited₹1,152₹42,224 cr88.9
Garden Reach Shipbuilders & Engineers Limited₹2,340₹26,803 cr38.8
Data Patterns (India) Limited₹4,411₹24,702 cr279.9
AXISCADES Technologies Limited₹1,852₹16,469 cr
Aequs Limited₹229₹15,380 cr
Astra Microwave Products Limited₹1,608₹15,265 cr309.2
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.10%
trailing 12 months
Dividend / share (TTM)
₹1.25
Last dividend
₹1.25
ex 23 Sep 2025
ActionDetailEx-date
Dividend₹1.25 / share23 Sep 2025
Dividend₹1 / share20 Sep 2024
Dividend₹0.1 / share15 Sep 2023
Bonus issue1:218 Jul 2014
Who owns it · 2026-07-14
No pledge
Promoter
51.5%
FII / Foreign
11.5%
DII / Domestic
0.6%
Retail / others
36.5%
Promoter stake down 1.6% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtNibe Ganesh Ramesh · Promoters11,000 · ₹1.6 cr30 Sep 25
BoughtNibe Ganesh Ramesh · Promoters11,000 · ₹1.6 cr30 Sep 25
BoughtNibe Ganesh Ramesh · Promoters11,000 · ₹1.6 cr30 Sep 25
Bulk / block deals
BoughtHRTI PRIVATE LIMITED · NSE76,502 @ ₹1,534.611 Jun 26
SoldHRTI PRIVATE LIMITED · NSE74,972 @ ₹1,533.931 Jun 26
SoldHRTI PRIVATE LIMITED · NSE90,319 @ ₹1,454.0525 May 26
Stake changes
BoughtNibe Ganesh Ramesh · promoter→ 50.07% · 1.84 L30 Sep 25
BoughtNibe Ganesh Ramesh · promoter→ 50.07% · 1.84 L30 Sep 25
BoughtNibe Ganesh Ramesh · promoter→ 48.81% · 2.05 L26 Apr 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Special shareholder meeting · 22 Jan 2026
See the official result
1
Issue of Convertible Warrants on Preferential Basis
Backed by 100% of shareholders other than promotersneeded 75%
9.41 L votes for, 0 against
2
Issue of Equity Shares on Preferential Basis
Backed by 100% of shareholders other than promotersneeded 75%
9.41 L votes for, 0 against

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 10 named members
owning 51.5% between them · as of 2026-07-14
NIBE GANESH RAMESH46.84%
MANJUSHA GANESH NIBHE4.35%
BHAGESH GANESH NIBE0.18%
DNYANESHWAR KARBHARI NIBE0.04%
LATE KISHOR RAMESH NIBE0.04%
HARSHADA KISHOR NIBEno shares
MANDATAI RAMESH NIBEno shares
NIBE POOJA KISHORno shares
Business done with them
FY2025 · 1 of the group
The company paid ₹21.1 L to companies in the promoter group last year — about 0.0% of its ₹507 cr revenue.
Dnyaneshwar Karbhari Nibe
Other payments to them · Salaries and Reimbursement of expenses
also owns 0.04% of the company
₹21.1 L
company paid

The company also transacted with 8 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

Money raised in Jun 2026 by selling shares to selected investors

As of Jun 2026, the company says it has spent 53% of what it set aside. Crisil Ratings Limited watches the spending on the exchange’s behalf.

Funding Capital Expenditure requirements for development setting up of new facilities including construction and civil works.
19%
of what was set aside
Repayment of existing borrowing
100%
of what was set aside
Augment Working Capital needs of the Company
92%
of what was set aside
GCP
50%
of what was set aside

The amount this filing states as raised is many times the whole company’s market value, so it is almost certainly entered in the wrong unit. We show the purposes and how far along each one is, and leave the rupee figures out rather than repeat a number that cannot be right.

Money raised in Mar 2026 by selling shares to selected investors

As of Mar 2026, the company says it has spent 39% of what it set aside. Crisil Ratings Limited watches the spending on the exchange’s behalf.

Funding Capital Expenditure requirements for development setting up of new facilities including construction and civil works
0%
of what was set aside
Repayment of existing borrowing
100%
of what was set aside
Augment Working Capital needs of the Company
92%
of what was set aside
GCP
0%
of what was set aside

The amount this filing states as raised is many times the whole company’s market value, so it is almost certainly entered in the wrong unit. We show the purposes and how far along each one is, and leave the rupee figures out rather than repeat a number that cannot be right.

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.