Nitin Castings Reports 64.75% PAT Growth in Q2 FY24-25 Amid Market Adjustments
Nitin Castings has recently undergone an adjustment in evaluation, reflecting the company's evolving market dynamics and financial metrics. The company, which operates in the castings and forgings sector, has shown resilience with a low debt-to-equity ratio averaging at 0 times, indicating a strong balance sheet.In the second quarter of FY24-25, Nitin Castings reported a profit after tax (PAT) of Rs 12.37 crore, marking a significant growth of 64.75%. The operating cash flow reached a peak of Rs 17.40 crore, while the dividend per share (DPS) also saw an increase, reaching Rs 3.00. The return on equity (ROE) stands at 19.6, suggesting effective management of shareholder equity.
Over the past year, the stock has generated a return of 33.45%, with profits rising by 55.1%. Nitin Castings has consistently outperformed the BSE 500 index over the last three years, showcasing its competitive position in the market. However, it is currently navigating a mildly bearish technical range, with the MACD indicator reflecting bearish signals since January 13, 2025.
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