Manufactures non-automatic weighing instruments and scales under the PHOENIX brand from a facility at MIDC Awdhan, Dhule, Maharashtra. The product line includes models such as PAS-150 and the NEP-100 (100 kg capacity), built for Accuracy Class III use. Customers are both government departments and private buyers — recent orders include 58,237 PAS-150 units worth Rs 8.66 crore (including GST) from the Uttar Pradesh Government's Women Welfare Department for mother and child welfare use, and 9,925 NEP-100 units worth Rs 5.32 crore (including GST) from Linkwell Telesystems. The company also runs a Calibration Division that received Government Approved Test Centre (GATC) approval in May 2026 from the Ministry of Consumer Affairs, authorising in-house verification of Accuracy Class III instruments up to 150 kg at a capacity of 2,600 units per month, valid until May 2027; this capability is expected to cut annual external verification costs by about Rs 50 lakhs. FY26 revenue was Rs 46.41 crore. Materials form the largest cost line at 43.2% of revenue, followed by other operating expenses at 35.0% and employee costs at 15.7%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacture and sale of weighing instruments and scales (PHOENIX brand), Calibration and verification services. Small-scale manufacturer of weighing instruments with an adjacent calibration/testing service line
| ₹ crore · consolidated | FY22 | FY23 |
|---|---|---|
| Revenue | 40 | 46 |
| EBITDA (ex other income) | (1) | 4 |
| margin % | (3.6) | 7.7 |
| Owners' profit | 0 | 0 |
| EPS, as reported (₹) | (3.44) | (0.22) |
| ROE % · ROCE % | — · — | (0.3) · 0.5 |
| Debt / equity (x) | — | 0.04 |
| Cash from operations | 1 | 1 |
| Capex | (4) | (1) |
| ₹ crore | Q1 FY22 | Q2 FY22 | Q3 FY22 | Q4 FY22 | Q1 FY23 | Q2 FY23 | Q3 FY23 | Q4 FY23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5 | 9 | 12 | 14 | 7 | 16 | 11 | 11 |
| Profit before tax | (0) | (0) | 0 | (4) | (0) | (0) | 0 | 0 |
| Net profit | (0) | (0) | — | (3) | (0) | (0) | 0 | (0) |
| EPS (₹) | (0.40) | (0.08) | 0.08 | (3.03) | (0.29) | (0.28) | 0.35 | 0.00 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| WAAREE ENERGIES LIMITED | 75,508 | 19.8 | 5.03 | 12.2 | 25.9 | 29.0 | — | 20.3 |
| APAR INDUSTRIES LTD. | 70,293 | 59.5 | 13.03 | 36.9 | 18.1 | 21.9 | 29.1 | 12.0 |
| PREMIER ENERGIES LIMITED | 44,224 | 26.2 | 10.26 | 18.0 | 35.0 | 25.7 | — | 30.8 |
| EMMVEE PHOTOVOLTAIC PWR L | 23,872 | 17.9 | 6.46 | 13.3 | 29.3 | 31.2 | — | 36.3 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 5 Sept 2026 · Book Closure for 27th AGM from Sept 22 to Sept 28, 2026 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Nitiraj Engineers informs shareholders about 27th AGM and FY26 annual report access | compliance | minimal | — | — |
| 5 Sept 2026 · 27th AGM notice and e-voting information for shareholders | compliance | minimal | — | — |
| 4 Sept 2026 · Notice of 27th AGM on Sep 28, 2026 along with Annual Report FY26 | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Board approves Annual Report for FY26, fixes 27th AGM on 28 September 2026 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Board approves Q1 FY27 results, revenue up 79% YoY, PAT swings to profit | results | high | — | — |
| 13 Aug 2026 · Nitiraj Engineers Q1 FY27 profit jumps on strong revenue growth | results | high | — | — |
| 9 Jul 2026 · RTA confirms no share rematerialisation requests in Q1FY27 | compliance | minimal | — | — |
| 6 Jul 2026 · Nitiraj Engineers promoter confirms no new encumbrance in FY26 | ownership changes | medium | — | — |
| 26 Jun 2026 · Trading Window Closure Ahead of Q1 FY27 Results | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| MTAR TECHNOLOGIES LIMITED | 22,531 | 168.8 | 27.39 | 120.2 | 11.4 | 12.4 | 28.9 | 25.8 |
| DIAMOND POWER INFRA LTD | 19,448 | 98.9 | — | 94.7 | (26.2) | 8.6 | — | 12.3 |
| AVALON TECHNOLOGIES LTD | 15,293 | 114.3 | 21.19 | 76.2 | 15.6 | 20.0 | — | 12.5 |
| GENUS POWER INFRASTRU LTD | 9,830 | 13.7 | 4.43 | 12.1 | 26.7 | 22.7 | 50.8 | 22.1 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 3.6 | 3.6 | 25 of 49 | 50% |
| ROCE | 0.0 | 12.3 | 50 of 56 | 11% |
| ROE | (0.3) | 11.5 | 46 of 53 | 14% |
| Debt / Equity | 0.0 | 0.2 | 11 of 53 | 81% |
| EBITDA margin | 11.6 | 12.6 | 30 of 51 | 42% |
| Revenue growth | (16.3) | 20.7 | 36 of 46 | 22% |
| Profit growth | 100.0 | 37.7 | 15 of 45 | 68% |
| Market cap | 243 | 641 | 33 of 56 | 42% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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