Nidhi Granites Limited

BSE: NIDHGRN512103ISIN INE276H01013

Commodities
Other Construction Materials

Share price

₹284.75+19.95 (+7.53%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded.

52W high: ₹458.65
52W low: ₹181.45
Off 52W high: -37.92%
1M return: +14.86%
3M return: -1.81%
6M return: -12.38%
1Y return: -37.92%
20D avg volume: 1,572
50 DMA: ₹250.33
200 DMA: ₹309.35

Key ratios Consolidated

Market cap: ₹227.80 Cr
Current price: ₹284.75
52W high / low: ₹458.65 / ₹181.45
Face value: ₹10.00
P/E: 27.33
P/B: 10.10
EPS (TTM): ₹10.42
Book value / share: ₹28.18
ROE: —
ROCE: 46.60%
Operating margin: —
Net margin: —
Debt / equity: 0.07
Net debt: ₹-2.29 Cr
Interest cover: 35.68
Dividend yield: —
Dividend / share (TTM): —
Payout: —
Cash conversion cycle: 60.3 days

Financials

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	15.84	16.66	15.55	13.18	19.81	10.48	13.41	12.10	9.29	—
	0.20	0.07	0.07	0.07	0.07	-0.11	0.51	1.14	0.51	—
	16.04	16.73	15.62	13.25	19.89	10.37	13.93	13.24	9.79	—
	12.18	13.80	12.68	11.42	16.84	11.28	12.76	11.94	8.82	—
	3.38	4.37	2.58	1.69	7.26	4.91	2.90	1.76	2.04	—
	4.93	4.78	6.93	5.78	4.82	7.28	6.94	9.37	5.44	—
	1.12	0.93	0.92	0.99	0.80	0.59	0.61	0.59	0.55	—
	0.04	0.14	0.07	0.05	0.05	0.07	0.08	0.11	0.11	—
	0.63	0.61	0.46	0.30	0.20	0.13	0.16	0.17	0.17	—
	2.20	3.00	2.27	2.43	4.36	1.37	0.24	0.26	0.21	—
	3.85	2.93	2.94	1.83	3.05	-0.91	1.17	1.30	0.97	—
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—
	3.85	2.93	2.94	1.83	3.05	-0.91	1.17	1.30	0.97	—
	0.96	0.99	0.74	0.54	0.81	-0.03	0.23	0.20	0.21	—
	2.90	1.94	2.21	1.29	2.24	-0.88	0.94	1.10	0.75	—
	3.62	2.42	2.75	5.60	2.80	-1.09	1.17	1.37	0.94	—
Key metrics
	4.52	3.68	3.47	2.18	3.30	-0.71	1.41	1.58	1.25	—
	28.50%	22.10%	22.30%	16.50%	16.70%	-6.80%	10.50%	13.10%	13.50%	—
	18.30%	11.60%	14.20%	9.80%	11.30%	-8.40%	7.00%	9.10%	8.10%	—
	—	12.90%	—	10.00%	—	-5.50%	—	—	—	—
	-20.00%	59.00%	16.00%	8.90%	113.20%	—	—	—	—	—
	29.50%	320.50%	135.10%	17.30%	198.70%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	61.23	65.20	45.28	—
	0.41	0.28	2.05	—
	61.64	65.49	47.33	—
	50.08	54.74	44.80	—
	12.02	15.90	11.62	—
	22.42	22.31	29.02	—
	3.96	3.63	2.33	—
	0.30	0.31	0.37	—
	2.00	1.57	0.64	—
	9.90	12.06	3.64	—
	11.55	10.75	2.53	—
	0.00	0.00	0.00	—
	11.55	10.75	2.53	—
	3.23	3.07	0.61	—
	8.34	7.68	1.92	—
	14.39	9.60	2.39	—
Key metrics
	13.85	12.63	3.54	—
	22.62%	19.40%	7.80%	—
	13.62%	11.80%	4.20%	—
	—	46.60%	19.00%	—
	9.73%	44.00%	—	—
	145.29%	300.00%	—	—
	—	0.84	-1.46	—
	—	0.76	0.78	—
	—	0.07	0.20	—
	—	-2.29	-0.06	—
	—	60.3	56.9	—
Balance sheet
	—	32.70	22.07	—
	—	21.51	14.73	—
	—	3.88	3.01	—
	—	9.15	4.71	—
	—	6.26	5.36	—
	—	0.85	0.43	—
	—	5.85	5.04	—
	—	4.63	3.02	—
	—	8.96	6.78	—
	—	1.59	2.95	—
	—	1.54	2.87	—
	—	0.05	0.08	—
	—	22.54	14.88	—
Cash flow
	—	5.80	1.50	—
	—	-3.00	-0.39	—
	—	-1.94	-0.91	—
	—	4.96	2.96	—

Metric	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24
Income statement
	0.14	0.07	0.00	0.00	0.10	0.17	—	—	—	—
	0.19	0.00	0.00	0.00	0.00	0.26	0.25	1.01	0.38	—
	0.33	0.07	0.00	0.00	0.10	0.08	0.25	1.01	0.38	—
	0.03	0.47	0.37	0.38	0.44	0.21	0.02	0.03	0.08	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.17	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	0.03	0.47	0.37	0.38	0.44	0.03	0.01	0.01	0.02	—
	0.30	-0.40	-0.37	-0.38	-0.34	-0.29	0.23	0.98	0.30	—
	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—
	0.30	-0.40	-0.37	-0.38	-0.34	-0.29	0.23	0.98	0.30	—
	0.03	-0.06	-0.05	0.05	-0.06	0.04	0.09	0.12	0.04	—
	0.27	-0.33	-0.32	-0.33	-0.28	-0.25	0.14	0.87	0.26	—
	0.34	-0.42	-0.40	-0.82	-0.35	-0.32	0.17	1.08	0.32	—
Key metrics
	0.30	-0.40	-0.37	-0.38	-0.34	-0.29	0.23	0.98	0.30	—
	214.30%	-571.40%	—	—	-340.00%	-170.60%	92.00%	97.00%	78.90%	—
	192.90%	-471.40%	—	—	-280.00%	-147.10%	56.00%	86.10%	68.40%	—
	—	-3.50%	—	-3.10%	—	-2.20%	—	—	—	—
	40.00%	-58.80%	-100.00%	-100.00%	-73.70%	—	—	—	—	—
	196.40%	-32.00%	-328.60%	-137.90%	-207.70%	—	—	—	—	—

Metric	TTM	FY26	FY25	FY24
Income statement
	0.21	0.17	0.17	—
	0.19	0.00	1.39	—
	0.40	0.18	1.56	—
	1.25	1.66	0.34	—
	0.00	0.00	0.00	—
	0.00	0.00	0.17	—
	0.00	0.00	0.00	—
	0.00	0.00	0.00	—
	0.00	0.00	0.00	—
	1.25	1.66	0.16	—
	-0.85	-1.49	1.23	—
	0.00	0.00	0.00	—
	-0.85	-1.49	1.23	—
	-0.03	-0.22	0.22	—
	-0.71	-1.27	1.01	—
	-1.30	-1.58	1.27	—
Key metrics
	-0.85	-1.49	1.23	—
	-404.76%	-876.50%	723.50%	—
	-338.10%	-747.10%	594.10%	—
	—	-13.00%	9.50%	—
	—	0.00%	—	—
	-247.92%	-225.70%	—	—
	—	0.06	-0.20	—
	—	-0.05	-0.20	—
	—	0.00	0.00	—
	—	-0.10	-0.64	—
	—	0.0	0.0	—
Balance sheet
	—	11.44	12.92	—
	—	0.16	0.71	—
	—	0.10	0.64	—
	—	0.00	0.00	—
	—	0.00	0.00	—
	—	0.06	0.07	—
	—	0.00	0.00	—
	—	0.00	0.00	—
	—	0.01	0.02	—
	—	0.00	0.00	—
	—	0.00	0.00	—
	—	0.00	0.00	—
	—	11.35	12.62	—
Cash flow
	—	0.06	-0.20	—
	—	-0.60	0.00	—
	—	0.00	0.00	—
	—	0.00	0.00	—

Compounded growth

Standalone

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): -85.42%
Profit YoY (TTM): -247.92%

Consolidated

Sales CAGR 3Y: —
Sales CAGR 5Y: —
Profit CAGR 3Y: —
Profit CAGR 5Y: —
Sales YoY (TTM): +9.73%
Profit YoY (TTM): +145.29%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Shareholding as of 30 Sep 2026

Promoter holding: 66.75%

Quarter	September 2026	June 2026
Promoter %	66.75%	66.75%

Holder	Type	Holding	Previous	Change
DEVAN NARENDRA PANDYA	Promoter	66.75%	66.75%	0.00%
NAYANA BALUBHAI BHATT	Public	13.53%	13.53%	0.00%
KALA PURVISH DIWANJI	Public	8.78%	8.78%	0.00%
NIDHI GRANITES LTD - SUSPENSE ESCROW DEMAT ACCOUNT	Public	1.27%	1.27%	0.00%
Kavita Shah	Promoter	0.00%	0.00%	0.00%
Shreya Pandya	Promoter	0.00%	0.00%	0.00%
Darpan Deepak Shah	Promoter	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
MIDWEST ENERGY LIMITED S	3,139	242.00	605.00	1.20%	+1,884.09% TTM	+286.28% TTM	-3.83%
Ramco Industries Ltd	2,669	307.30	7.92	4.70%	+17.34% TTM	+45.76% TTM	-12.38%
Glass Wall Systems (India) Limited	2,154	245.00	—	—	+64.18% FY26	+45.70% FY26	—
ArisInfra Solutions Limited	1,214	148.45	14.67	13.80%	—	—	-10.44%
BIRLANU LIMITED	901	1,194.20	-7.30	-2.70%	+9.17% TTM	-18.19% TTM	-37.16%
Everest Industries Ltd.	718	452.85	37.76	-11.70%	-16.31% TTM	+178.04% TTM	-22.94%
MARBLE CITY INDIA LIMITED S	397	154.90	94.45	13.50%	+4.13% TTM	-33.70% TTM	-1.81%
SAHYADRI INDUSTRIES LTD. S	347	317.45	6.40	10.20%	+19.77% TTM	+193.30% TTM	+20.96%
OM GALAXY LIMITED	290	85.50	18.10 FY26	—	+10.07% FY26	+4.52% FY26	—
Nidhi Granites Limited	228	284.75	27.33	46.60%	+9.73% TTM	+145.29% TTM	-37.92%
Glittek Granites Ltd. S	212	81.60	1,360.00	-3.60%	-63.86% TTM	-99.32% TTM	+641.82%
DIVYASHAKTI LIMITED S	68	65.79	212.23	0.80%	-58.93% TTM	-90.40% TTM	+11.62%
CELLA SPACE LIMITED S	61	30.09	5.71	13.90%	+847.86% TTM	-79.82% TTM	+87.36%
Ravileela Granites Limited S	57	54.00	6.35	42.50%	+39.51% TTM	+593.08% TTM	+17.39%
Associated Ceramics Ltd. S	53	175.00	20.49	10.70%	-11.22% TTM	+1.16% TTM	-18.57%
LERTHAI FINANCE LIMITED S	29	409.00	-68.51	-4.00%	-100.00% TTM	-5,300.00% TTM	-43.19%
Neelkanth Rockminerals ltd. S	28	55.25	95.26	3.90%	—	+11.11% TTM	+172.84%
Jai Mata Glass Ltd. S	26	2.65	-132.50	-11.30%	-69.70% TTM	+64.06% TTM	+39.47%
Shiva Granito Export Limited S	19	14.21	-355.25	1.50%	—	—	+25.86%
Inani Marbles & Industries Ltd. S	17	9.26	115.75	3.20%	-4.64% TTM	+25.00% TTM	-53.23%
Solid Stone Company Ltd.	13	24.32	26.22	10.70%	-13.78% TTM	-39.02% TTM	-29.55%
Triveni Glass Ltd. S	11	8.83	6.59	4.90%	-100.00% TTM	+1,088.24% TTM	-32.80%
Milestone Global Limited	9	17.50	7.89	9.00%	+31.30% TTM	+246.88% TTM	-32.04%
Sashwat Technocrats Limited S	8	276.75	1,203.26	-11.90%	+25.00% TTM	+125.00% TTM	+4.24%
Mayur Floorings Ltd. S	8	15.43	35.88	6.00%	+31.98% TTM	+117.19% TTM	-20.30%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Nidhi Granites Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/11/2026 ,inter alia, to consider and approve Notice of Board Meeting for ....4 Nov 2026 · Board Meeting / Board Meeting
Allotment of Equity Shares of Jowela Exim Private Limited pursuant to the right issue undertaken by Jowela Exim Private Limited.22 Oct 2026 · Company Update / Acquisition
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby submit the outcome of the Board Meeting as follows: 1. The meeting ....14 Oct 2026 · Others / Outcome without intimation
Compliances-Certificate under Reg 74(5) of SEBI (DP) regulations, 2018 for the quarter ended 30th September 2026.8 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Closure of Trading window for quarter ended 30th September 2026.28 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Newspaper publication of Unaudited financials for the quarter ended 30th June 2026.14 Aug 2026 · Company Update / Newspaper Publication
Results for the quarter ended 30th June 202613 Aug 2026 · Result / Financial Results
Outcome of Board Meeting held on 13th August 2026 in accordance with SEBI (Listing and Obligations and Disclosure Requirements) Regulations, 201513 Aug 2026 · Board Meeting / Outcome of Board Meeting
Nidhi Granites Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/08/2026 ,inter alia, to consider and approve Intimation of Board meeting ....7 Aug 2026 · Board Meeting / Board Meeting
Voting Results of 44th AGM of the Company held on 22nd July 202624 Jul 2026 · AGM/EGM / AGM
Pursuant to Reg 30 of SEBI LODR, enclose herewith copy of the Proceedings of 44th AGM of the members held on 22nd July 2026.22 Jul 2026 · AGM/EGM / AGM
Compliance-certificate under Reg 74(5) of SEBI (DP), regulations13 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Compliances-Certificate under Reg 74 (5) of SEBI(DP) regulations for 30th June 2026.3 Jul 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Submission of Data required to detemine in Large Corporate Status for FY 2025-2026.26 Jun 2026 · Company Update / General
Newspaper publication of 44th Annual General Meeting Notice for 2025-2026.26 Jun 2026 · Company Update / Newspaper Publication
Record date or cut-off date for the AGM is 15th July 2026.25 Jun 2026 · Corp. Action / Record Date
Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Electronic copy of Notice of 44th Annual General Meeting ('AGM') and the Annual Report for ....25 Jun 2026 · Others / Reg. 34 (1) Annual Report
Notice of Annual General Meeting to be held on 22.07.2026.25 Jun 2026 · AGM/EGM / AGM
Intimation regarding Purchase of 100 Equity Shares of the Company by promoters through open market.25 Jun 2026 · Company Update / General
Closure of Trading Window for 1st Quarter ended 30th June 202625 Jun 2026 · Insider Trading / SAST / Closure of Trading Window
Newspaper Publication for results for 31st March 2026.30 May 2026 · Company Update / Newspaper Publication
Non applicability of Regulation 23(9) of SEBI (LODR) (Amendments) Regulation, 201829 May 2026 · Company Update / General
Re-appointment of Amit Sinkar and Amit Patankar, Independent Directors of the Company for further term of 5 years, subject to the approval of members.29 May 2026 · Company Update / Change in Management
Re-appointment of Statutory Auditor for a period of five years, subject to the approval of members.29 May 2026 · Company Update / Appointment of Statutory Auditor/s
Results-Financial Results for the quarter ended 31st March 202629 May 2026 · Result / Financial Results
Outcome of Board Meeting held on 29th May 2026 in accordance with SEBI (Listing and Obligations and Disclosure Requirements) Regulations, 201529 May 2026 · Board Meeting / Outcome of Board Meeting
Nidhi Granites Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 29/05/2026 ,inter alia, to consider and approve Pursuant to Regulation 29 read ....20 May 2026 · Board Meeting / Board Meeting
Announcement under Regulation 30- Clarification on Price Movement17 Apr 2026 · Company Update / General
The Exchange has sought clarification from Nidhi Granites Ltd on April 15, 2026 with reference to significant movement in price, in order to ensure that investors have latest relevant information ....15 Apr 2026 · Company Update / Clarification
Change in registered office address of the Company10 Apr 2026 · Company Update / Change in Registered Office Address
Compliances- Certificate under Reg 74(5) of SEBI (DP) regulations for the quarter ended 31st March 20263 Apr 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Trading window shall remain closed from 1st April 2026 and will open after 48 hours after the annoucment of Un-audited Financial results for the fourth quarter and financial year ended ....27 Mar 2026 · Insider Trading / SAST / Closure of Trading Window
Sale of Step Down Subsidiary - Fine Papyrus Private Limited16 Mar 2026 · Company Update / General
Publication of results for quarter ended 31st December 202514 Feb 2026 · Company Update / Newspaper Publication
Un-audited Financial Results for the Quarter Ended on 31st December 202513 Feb 2026 · Result / Financial Results
The Board has at its meeting held today approved the shifting of Registered Office w.e.f. 1st April 202613 Feb 2026 · Company Update / Change in Registered Office Address
The Board has at its meeting held today approved the re-appointment of Mr. Drapan Shah (DIN: 07650896) as the Managing Director for a further term of 5 years effective from 13th February ....13 Feb 2026 · Company Update / Change in Management
Un-Audited Financial Results for the Quarter Ended on 31st December 202513 Feb 2026 · Board Meeting / Outcome of Board Meeting
Nidhi Granites Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/02/2026 ,inter alia, to consider and approve Pursuant to Regulation 29 read ....6 Feb 2026 · Board Meeting / Board Meeting
Compliance Certificate under Reg 74 (5) of SEBI (DP) Regulations for quarter ended 31st December 20258 Jan 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Board meetings

13 Aug 2026 Board Meeting - Financial Results