Nelco Limited (NELCO) · mywealthgrid

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About

Nelco Limited is an IT hardware company with a market cap of ₹2,336 Cr and quarterly revenues between ₹50–80 Cr. The company operates in computers hardware and equipment within a competitive, thin-margin segment of information technology.

Face value: ₹10

Market cap

₹2,027 Cr

P/E

525.2×

P/B

15.8×

Dividend yield

0.1%

ROE

2.6%

ROCE

9.4%

Debt / equity

0.46

OPM

9.3%

EPS (TTM)

₹1.7

Book value

₹56.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE of 605.2 is exceptionally high for a company with volatile quarterly net profits (–₹1.2 Cr to +₹3.8 Cr); verify what growth the market is pricing in.
ROE of 2.59% indicates the company is generating minimal returns on its capital; verify whether this reflects a cyclical trough or structural capital allocation issues.
Operating margins of 9–13% are thin in the hardware space; verify price realization and cost pressures from competitors, and whether ₹9.3% OPM can be sustained.
Quarterly net profit swings widely despite relatively stable revenue; verify whether volatility is seasonal, project-dependent, or structural to the business model.

Generated analysis · source review pending

Growth drivers

Revenue reached ₹80.03 Cr in June 2026 (top of recent range) with OPM of 10.4%; verify if this signals underlying demand recovery or a one-off contract.
Operating margin peaked at 13.34% in one June 2026 quarter; verify whether operational improvements or favorable project mix are repeatable.
1-year return of 17.82% suggests market confidence in recovery; verify the drivers of this price appreciation and whether fundamentals can sustain it.

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹889.2-3.6%1Y

Quick read

rule-based

Pros

+Dividend payout of 59.1% of profit

Cons

−Low return on equity of 10.3% (3-yr avg)
−Profit declined 23.1% a year over the last 5 years
−Modest revenue growth of 6.3% a year over the last 5 years
−Expensive at 525.2× trailing earnings
−Trading at 15.8× book value

Research score

Structured signal from quality, growth, valuation and momentum.

20/100

Business quality: 24
Growth: 35
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	200	144	150	191	220	226	260	313	320	305	307
COGS	42	25	18	34	31	28	45	51	35	27	37
Gross profit	158	118	131	157	189	198	215	263	285	278	270
	136	100	106	121	139	153	165	202	225	236	241
	22	18	25	36	50	45	51	61	60	42	29
OPM %	10.9%	12.8%	16.8%	18.8%	22.6%	19.8%	19.5%	19.4%	18.7%	13.8%	9.4%
Depreciation	11	8	9	13	20	22	25	28	22	22	20
Interest	13	9	6	7	13	10	8	8	7	6	5
	3	5	5	5	4	3	5	3	2	5	1
Profit before tax	1	7	15	20	20	16	23	28	34	20	5
Tax	0	1	3	-2	6	4	7	8	10	10	1
Tax %	0%	9.4%	20.4%	-11.3%	29%	22.2%	30.5%	28.7%	29.4%	51.5%	27.7%
	1	6	12	22	14	12	16	20	24	10	3
PAT margin %	0.3%	4.4%	8.1%	11.7%	6.5%	5.5%	6.2%	6.3%	7.4%	3.1%	1.1%
EPS (₹)	—	2.8	—	—	6.3	5.4	7.1	8.7	10.4	4.2	1.5
EPS adjusted (₹)	0.3	2.8	5.3	—	—	5.4	7.1	8.7	10.4	4.2	1.5
	—	0%	—	—	19%	22.1%	25.5%	23%	21.2%	23.9%	69%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	23	23	23	23	23	23	23	23	23
Reserves	-9	-1	11	54	62	82	101	105	106
Minority interest	—	0	0	—	—	—	—	—	—
	66	54	46	19	18	38	33	38	59
	62	55	82	144	57	120	125	122	160
Total equity & liabilities	142	131	162	239	159	262	282	287	347
	29	36	51	38	44	95	87	78	77
CWIP	3	3	5	4	2	1	10	9	41
Investments	8	5	6	0	30	0	4	4	4
	101	87	101	197	82	165	181	197	225
Total assets	142	131	162	239	159	262	282	287	347

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	82.2%	85.9%	87.6%	82.8%	83.8%	89%	91.1%	88%
EBITDA margin %	18.8%	22.6%	19.8%	19.5%	19.4%	18.5%	13.8%	9.3%
EBIT margin %	12.1%	13.5%	10%	10%	10.5%	11.6%	6.5%	2.8%
PAT margin %	11.7%	6.5%	5.5%	6.2%	6.3%	7.4%	3.1%	1.1%
Working capital
Receivable days	—	—	34	48	96	97	128	123
Inventory days	—	—	—	—	153	268	415	360
Payable days	—	—	0	0	324	364	632	411
NWC days	—	—	—	—	-75	0	-90	72
Leverage
Current ratio	—	—	0.6	0.75	1.2	1.09	1.1	0.88
Debt to EBITDA	—	—	0.42	0.35	0.62	0.56	0.9	2.06
Debt to equity	—	—	0.24	0.21	0.36	0.27	0.3	0.46
Interest coverage	3.7	2.4	2.7	4.1	4.6	6	4.5	2.7
Asset turnover	—	—	0.95	1.64	1.19	1.14	1.06	0.88
Return ratios
Return on assets %	—	—	5.2%	10.1%	7.6%	8.4%	3.3%	1%
Return on capital employed %	—	—	13.9%	22.2%	29.9%	27.7%	18%	9.4%
Return on equity %	—	—	16.1%	19%	19%	19.2%	7.5%	2.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%	50.09%
	4.44%	4.5%	4.54%	4.8%	4.64%	5.41%	4.83%	4.64%	4.56%	4.61%	4.72%	5.62%
	0.1%	0.09%	0.06%	0.06%	0.06%	0.14%	0.13%	0.13%	0.16%	0.16%	0.26%	0.06%
	0%	0%	0%	0%	0%	0%	0%	0%	0.25%	0.25%	0.25%	0.25%
	45.37%	45.32%	45.31%	45.05%	45.21%	44.36%	44.95%	45.14%	44.94%	44.89%	44.68%	43.98%
No. of shareholders	—	—	—	—	—	—	—	—	72,451	71,859	71,660	69,141

Promoter holding up 0 percentage points since Sep 2023.

93 deals · 12 Aug 2021 – 18 Aug 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
18 Aug 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	2,72,879	₹975.08	₹26.61 Cr
18 Aug 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	1,27,937	₹973.47	₹12.45 Cr
18 Aug 2026	QE SECURITIES LLP	Bulk	NSE	Buy	1,17,760	₹969.59	₹11.42 Cr
18 Aug 2026	QE SECURITIES LLP	Bulk	NSE	Sell	1,17,472	₹979.68	₹11.51 Cr
13 Aug 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Buy	1,54,374	₹1,027.25	₹15.86 Cr
13 Aug 2026	HRTI PRIVATE LIMITED	Bulk	NSE	Sell	54,499	₹1,024.15	₹5.58 Cr
10 Aug 2026	RAMDOOT REALTORS PVT LTD	Bulk	NSE	Buy	1,16,980	₹1,003.41	₹11.74 Cr
10 Aug 2026	RAMDOOT REALTORS PVT LTD	Bulk	NSE	Sell	1,13,705	₹1,003.89	₹11.41 Cr
31 Jul 2026	RAMDOOT REALTORS PVT LTD	Bulk	NSE	Buy	1,50,065	₹991.99	₹14.89 Cr
31 Jul 2026	RAMDOOT REALTORS PVT LTD	Bulk	NSE	Sell	1,44,465	₹997.17	₹14.41 Cr

1–10 of 93

1 / 10

Mr. Amur Swaminathan LakshminarayananNon-Executive - Non Independent Director-Chairperson
R B UpadhyayCFO, Sr. Vice President (Finance)
Mr. Pradip Jyoti NathExecutive Director-CEO-MD
Mr. Vijay B SomaiyaNon-Executive - Independent Director
Mrs. Lakshmi NadkarniNon-Executive - Independent Director
Mr. Ajay Kumar PandeyNon-Executive - Independent Director
Mr. Saurabh RayNon-Executive - Non Independent Director
Mr. Malav ShahChief Financial Officer
Mr. Ritesh N. KamdarCompany Secretary & Compliance

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Nelco Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

11 announcementsExport CSV

21 Sept 2026, 2:12 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	82.2%	85.9%	87.6%	82.8%	83.8%	89%	91.1%	88%
EBITDA margin %	18.8%	22.6%	19.8%	19.5%	19.4%	18.5%	13.8%	9.3%
EBIT margin %	12.1%	13.5%	10%	10%	10.5%	11.6%	6.5%	2.8%
PAT margin %	11.7%	6.5%	5.5%	6.2%	6.3%	7.4%	3.1%	1.1%
Working capital
Receivable days	—	—	34	48	96	97	128	123
Inventory days	—	—	—	—	153	268	415	360
Payable days	—	—	0	0	324	364	632	411
NWC days	—	—	—	—	-75	0	-90	72
Leverage
Current ratio	—	—	0.6	0.75	1.2	1.09	1.1	0.88
Debt to EBITDA	—	—	0.42	0.35	0.62	0.56	0.9	2.06
Debt to equity	—	—	0.24	0.21	0.36	0.27	0.3	0.46
Interest coverage	3.7	2.4	2.7	4.1	4.6	6	4.5	2.7
Asset turnover	—	—	0.95	1.64	1.19	1.14	1.06	0.88
Return ratios
Return on assets %	—	—	5.2%	10.1%	7.6%	8.4%	3.3%	1%
Return on capital employed %	—	—	13.9%	22.2%	29.9%	27.7%	18%	9.4%
Return on equity %	—	—	16.1%	19%	19%	19.2%	7.5%	2.6%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Gng Electronics LimitedEBGNGEBGNG	₹8,034 Cr	₹8,439 Cr	₹1,991 Cr	₹213 Cr	10.4%	₹142 Cr	7%	24.1%	17.4%	213
Rashi Peripherals LimitedRPTECHRPTECH	₹6,281 Cr	₹7,240 Cr	₹17,777 Cr	₹511 Cr	2.9%	₹319 Cr	1.8%	25%	14.7%	60
Moschip Technologies LimitedMOSCHIPMOSCHIP	₹3,852 Cr	₹3,888 Cr	₹566 Cr	₹53 Cr	10.2%	₹27 Cr	6%	10.9%	9.6%	-4,209
Nelco LimitedNELCONELCO	₹2,027 Cr	₹2,086 Cr	₹312 Cr	₹29 Cr	9.3%	₹4 Cr	1.1%	9.4%	2.6%	72
D-Link (India) LimitedDLINKINDIADLINKINDIA	₹1,443 Cr	₹1,443 Cr	₹1,673 Cr	₹137 Cr	8.4%	₹107 Cr	6.7%	28.5%	21.2%	57
Ivalue Infosolutions LimitedIVALUEIVALUE	₹1,197 Cr	₹1,244 Cr	₹1,007 Cr	₹142 Cr	12.7%	₹104 Cr	9.3%	24.7%	17.3%	-1
Bharat Global Developers LtdBGDLBGDL	₹1,101 Cr	₹1,105 Cr	₹0 Cr	₹0 Cr	0%	₹0 Cr	0%	0%	0%	—
Control Print LimitedCONTROLPRCONTROLPR	₹989 Cr	₹990 Cr	₹486 Cr	₹85 Cr	18.4%	₹33 Cr	9.1%	16.1%	12.1%	283
Tvs Electronics LimitedTVSELECTTVSELECT	₹743 Cr	₹785 Cr	₹465 Cr	₹16 Cr	4.3%	₹-2 Cr	0.3%	7.3%	1.3%	59
BCC Fuba India LtdBCCFUBABCCFUBA	₹632 Cr	₹648 Cr	₹47 Cr	₹7 Cr	14.8%	₹4 Cr	8.1%	24.9%	17%	83
Dc Infotech And Communication LimitedDCIDCI	₹562 Cr	₹650 Cr	₹737 Cr	₹35 Cr	4.8%	₹21 Cr	2.9%	33.5%	19.7%	78
Hcl Infosystems LimitedHCL-INSYSHCL-INSYS	₹331 Cr	₹664 Cr	₹19 Cr	₹-63 Cr	-274%	₹-26 Cr	-152.3%	—	—	53

Date	Category	Subject	Filing
21 Sept 2026, 2:12 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
27 Aug 2026, 4:10 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
26 Aug 2026, 9:01 pm	Company Update Credit Rating	Announcement under Regulation 30 (LODR)-Credit Rating	PDF
17 Aug 2026, 4:34 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
17 Aug 2026, 4:13 pm	Company Update Acquisition	Announcement under Regulation 30 (LODR)-Acquisition	PDF
18 Jul 2026, 3:16 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
16 Jul 2026, 6:05 pm	Company Update Change in Management	Announcement under Regulation 30 (LODR)-Change in Management	PDF
16 Jul 2026, 5:59 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Unaudited Financial Results (Consolidated And Standalone) Along With The Limited Review Reports Thereon For The Quarter Ended 30Th June 2026	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	3	38	32	21	33	54	49	58	45	20	15
	-8	-3	-14	-45	-40	-8	-16	-25	-19	-17	-21
	5	-40	-12	25	4	-47	-20	-33	-20	-11	11
Net cash flow	0	-5	6	2	-2	-1	14	1	6	-8	6
Free cash flow	—	22	11	-32	-15	45	31	35	29	3	-8
CFO / Operating profit %	12.3%	205.6%	127.9%	59%	66.7%	120.3%	97.8%	95.6%	75.6%	47.3%	53.4%

Nelco Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Not in the F&O segment

No fund holdings on record

Announcements

Annual reports

Credit ratings

12

1

Compounded sales growth

Compounded profit growth

Return on equity

Nelco Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Dividends12

Board meetings1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

12

1