---
title: "Nikita Greentech Recycling Ltd (NIKITA) — Share Price, Financials & Analysis"
symbol: "NIKITA"
company: "Nikita Greentech Recycling Ltd"
canonical: "https://tapetide.com/stocks/NIKITA"
isin: "INE0FLF01015"
nse_symbol: "NIKITA"
sector: "Forest Materials"
industry: "Paper & Paper Products"
market_cap_cr: 172.68
generated_at: "2026-09-13T18:39:43.881Z"
---

# Nikita Greentech Recycling Ltd (NIKITA)

Canonical page: https://tapetide.com/stocks/NIKITA

## Company

- **NSE Symbol:** NIKITA
- **ISIN:** INE0FLF01015
- **Sector:** Forest Materials
- **Industry:** Paper & Paper Products
- **Macro Sector:** Commodities
- **Stock Type:** EQUITY
- **Listed Since:** 2025-06-03
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** nikitapapers.com

## About

Incorporated in 1989, Nikita Papers Limited is engaged in the manufacturing of paper and paper products.[1]

## Latest Price

- **Price:** ₹70.1
- **Change:** -6.1 (-8.01%)
- **Open:** ₹71
- **Day High:** ₹71
- **Day Low:** ₹69
- **Previous Close:** ₹76.2
- **Volume:** 44400
- **As Of:** 2026-09-11T09:57:11+00:00

## Key Fundamentals

Observed at 2026-09-11T04:44:35.056214Z.

- **Market Cap:** ₹172.68 Cr
- **Classification:** SME
- **P/E (reported):** 16.9
- **Book Value:** ₹70.21
- **Price to Book:** 1.09
- **Dividend Yield:** 0%
- **ROE:** 22.11%
- **ROCE:** 25.96%
- **Debt to Equity:** 1.32
- **Revenue (yearly):** ₹350.07 Cr
- **Net Income:** ₹11.63 Cr
- **EBITDA:** ₹27.88 Cr
- **52-Week High:** ₹156
- **52-Week Low:** ₹67.15
- **RSI (14):** 52.38

## Tapetide Score

- **Score:** 45 / 100
- **Score date:** 2026-09-04
- **Archetype:** Expensive and Under Pressure
- **What it means:** The multiple is demanding and the trend has turned against it, without the financial strength that would justify paying up. What matters is whether the de-rating stops at the multiple or starts showing up in the numbers.
- **Pillar profile:** Quality: Average · Valuation: Expensive · Momentum: Falling
- **Percentile:** 28.3 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 20.42 | 9% |
| growth | 30.57 | 9% |
| momentum | 10.71 | 12% |
| ownership | 64.59 | 24% |
| quality | 58.65 | 22% |
| valuation | 44.51 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 0.97 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- Company might be capitalizing the interest cost
- Earnings include an other income of Rs.15.7 Cr.
- Working capital days have increased from 74.6 days to 128 days

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | -59.6% | -53.23% | -109.78% |
| ebitda margin growth | -51.28% | -45.42% | -7.75% |
| net income growth | -49.43% | 9% | 30% |
| revenue growth | -7.68% | -4% | 24% |
| roce | -9.58% | 66.95% | 18.18% |
| roe | 3.08% | 19.78% | 71.4% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- |
| Sales | 179 | 166 | 198 | 178 | 172 |
| Expenses | 156 | 146 | 174 | 162 | 160 |
| Operating Profit | 23 | 20 | 24 | 16 | 12 |
| OPM % | 13 | 12 | 12 | 9 | 7 |
| Other Income | 10 | 7 | 8 | 8 | 8 |
| Interest | 8 | 8 | 9 | 10 | 8 |
| Depreciation | 6 | 5 | 5 | 5 | 5 |
| Profit before tax | 20 | 14 | 18 | 10 | 7 |
| Tax % | 36 | 29 | 30 | 34 | 29 |
| Net Profit | 13 | 10 | 13 | 6 | 5 |
| EPS in Rs | 6.95 | 5.57 | 7.1 | 2.56 | 1.95 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 99 | 117 | 355 | 398 | 338 | 363 | 350 |
| Expenses | 91 | 105 | 327 | 371 | 298 | 318 | 322 |
| Operating Profit | 8 | 12 | 28 | 28 | 40 | 45 | 28 |
| OPM % | 8 | 11 | 8 | 7 | 12 | 12 | 8 |
| Other Income | 0 | 0 | 2 | 3 | 13 | 15 | 16 |
| Interest | 4 | 5 | 11 | 11 | 14 | 17 | 18 |
| Depreciation | 3 | 4 | 11 | 10 | 10 | 10 | 9 |
| Profit before tax | 2 | 3 | 8 | 10 | 29 | 33 | 16 |
| Tax % | 56 | 6 | 15 | 12 | 28 | 30 | 32 |
| Net Profit | 1 | 3 | 7 | 9 | 21 | 23 | 11 |
| EPS in Rs | — | — | — | — | 11.4 | 12.67 | 4.52 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 5 | 5 | 9 | 9 | 18 | 18 | 25 |
| Reserves | 16 | 19 | 37 | 46 | 63 | 86 | 154 |
| Borrowings | 82 | 153 | 125 | 163 | 189 | 223 | 237 |
| Other Liabilities | 9 | 15 | 64 | 39 | 34 | 56 | 74 |
| Total Liabilities | 111 | 192 | 235 | 257 | 304 | 383 | 490 |
| Fixed Assets | 24 | 99 | 88 | 79 | 96 | 86 | 77 |
| CWIP | 32 | 1 | 6 | 19 | 0 | 2 | 80 |
| Investments | 0 | 0 | 1 | 1 | 1 | 1 | 1 |
| Other Assets | 56 | 92 | 140 | 157 | 207 | 293 | 332 |
| Total Assets | 111 | 192 | 235 | 257 | 304 | 383 | 490 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -1 | -10 | 28 | -13 | -12 | -20 | 19 |
| Cash from Investing Activity | -32 | -48 | -11 | -14 | -3 | -2 | -78 |
| Cash from Financing Activity | 34 | 59 | -16 | 27 | 18 | 17 | 60 |
| Net Cash Flow | 2 | 1 | 1 | 0 | 3 | -5 | 1 |
| Free Cash Flow | -33 | -58 | 17 | -27 | -15 | -22 | -59 |
| CFO/OP | -3 | -73 | 104 | -43 | -19 | -22 | 85 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 109 | 155 | 89 | 85 | 134 | 110 | 129 |
| Inventory Days | 61 | 150 | 65 | 53 | 69 | 86 | 74 |
| Days Payable | 28 | 49 | 73 | 29 | 28 | 55 | 61 |
| Cash Conversion Cycle | 142 | 257 | 80 | 109 | 175 | 142 | 143 |
| Working Capital Days | 47 | 82 | 32 | 26 | 31 | 64 | 128 |
| ROCE % | — | 6 | 11 | 11 | 16 | 17 | 9 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2025 | Mar 2026 |
| --- | --- | --- |
| Promoters | 58.95% | 58.95% |
| FIIs | 3.01% | 0.9% |
| DIIs | 0.07% | 0% |
| Government | 0% | 0% |
| Public | 21.63% | 28.12% |
| Others | 16.34% | 12.03% |
| No. of Shareholders | 903 | 723 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 6 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 73.51 | Sell |
| EMA (10) | 73.33 | Sell |
| SMA (20) | 73.71 | Sell |
| EMA (20) | 74.06 | Sell |
| SMA (50) | 78.1 | Sell |
| EMA (50) | 78.35 | Sell |
| SMA (100) | 88.28 | Sell |
| EMA (100) | 86.97 | Sell |
| SMA (200) | 107.2 | Sell |
| EMA (200) | 96.85 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 40.81 | Neutral |
| MACD (12,26,9) | -1.23 | Buy |
| Stochastic (14,3,3) | 39.34 | Neutral |
| ADX (14) | 20.81 | Neutral |
| Williams %R (14) | -88.78 | Buy |
| ATR (14) | 3.17 | High Volatility |
| ROC (12) | -6.1 | Sell |
| Stoch RSI (14) | 21.2 | Neutral |
| UO (7,14,28) | 50.74 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 May 2026 - M/s Arora Vikas and Associates resigned as internal auditor effective May 8, 2026; replacement process initiated. | [Change in Auditors 9 May 2026 - M/s Arora Vikas and Associates resigned as internal auditor effective May 8, 2026; replacement process initiated.](https://nsearchives.nseindia.com/corporate/NIKITA_09052026223611_Submitted_to_NSE.pdf) |
| 9 May 2026 - Internal auditor M/s Arora Vikas And Associates resigned effective May 8, 2026; replacement search underway. | [Resignation 9 May 2026 - Internal auditor M/s Arora Vikas And Associates resigned effective May 8, 2026; replacement search underway.](https://nsearchives.nseindia.com/corporate/NIKITA_09052026223304_Submitted_to_NSE.pdf) |
| 9 Jul - Paper Unit PM-I shuts from July 15, 2026 for three months to install new machinery; PM-II continues. | [Closure of operations 9 Jul - Paper Unit PM-I shuts from July 15, 2026 for three months to install new machinery; PM-II continues.](https://nsearchives.nseindia.com/corporate/NIKITA_09072026121741_Submitted_to_NSE.pdf) |
| 9 Jul - Nikita Greentech to expand PM-I capacity by 550 TPD with ₹107.54 crore investment, completion by October 2026. | [Capacity addition 9 Jul - Nikita Greentech to expand PM-I capacity by 550 TPD with ₹107.54 crore investment, completion by October 2026.](https://nsearchives.nseindia.com/corporate/NIKITA_09072026121352_Submitted_to_NSE.pdf) |
| 9 April 2026 - Promoters reported no share encumbrance; total promoter holding stood at 58.95% on March 31, 2026. | [Disclosure under SEBI Takeover Regulations 9 April 2026 - Promoters reported no share encumbrance; total promoter holding stood at 58.95% on March 31, 2026.](https://nsearchives.nseindia.com/corporate/team_sandeshc_08042026111526_SAST.pdf) |
| 8 Sep - Infomerics reaffirmed ratings and enhanced bank loan facilities to Rs. 227.90 crore on September 8, 2026. | [Credit Rating 8 Sep - Infomerics reaffirmed ratings and enhanced bank loan facilities to Rs. 227.90 crore on September 8, 2026.](https://nsearchives.nseindia.com/corporate/NIKITA_08092026213034_Submitted_to_NSE.pdf) |
| 5 Sep - Submitted newspaper ads for 37th AGM notice and FY2026 annual report dispatch. | [Copy of Newspaper Publication 5 Sep - Submitted newspaper ads for 37th AGM notice and FY2026 annual report dispatch.](https://nsearchives.nseindia.com/corporate/NIKITA_05092026100930_Submitted_to_NSE.pdf) |
| 5 January 2026 - RTA certificate under Reg 74(5) for quarter ended 31-Dec-2025; no physical share certificates received. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 5 January 2026 - RTA certificate under Reg 74(5) for quarter ended 31-Dec-2025; no physical share certificates received.](https://nsearchives.nseindia.com/corporate/NIKITA_05012026145545_Submitted_to_NSE.pdf) |
| 5 January 2026 - Nikita Greentech Recycling: RTA certificate under SEBI Reg.74(5) for quarter ended Dec 31, 2025 submitted. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 5 January 2026 - Nikita Greentech Recycling: RTA certificate under SEBI Reg.74(5) for quarter ended Dec 31, 2025 submitted.](https://nsearchives.nseindia.com/corporate/NIKITA_05012026120605_Submitted_to_NSE.pdf) |
| 4 Sep - Notice of 37th AGM and FY26 annual report; e-voting Sept 27-29, AGM Sept 30, 2026. | [General Updates 4 Sep - Notice of 37th AGM and FY26 annual report; e-voting Sept 27-29, AGM Sept 30, 2026.](https://nsearchives.nseindia.com/corporate/NIKITA_04092026111949_Submitted_to_NSE.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_31340_NIKITA_2025_2026_A_6895669_04092026111257.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28530_NIKITA_2024_2025_A_7268089_05092025121545.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Jun 2025 | [Concall - Jun 2025](https://nsearchives.nseindia.com/corporate/NIKITA_30062025173352_IntimationTranscript24062025.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:39:43.881Z.