Company Profile

• Establishment: Nibe Limited was founded in 2021 under the visionary leadership of Mr. Ganesh Ramesh Nibe

• Specialization: The company specializes in manufacturing critical components, primarily catering to the defense industry

Company Management:

Strategic Divisions:

• E-Vehicles Division: Nibe pioneers sustainable transportation by producing top-notch eco-friendly E-bikes and rickshaws. Their commitment to efficient and responsible mobility drives positive change.

• BVM R&D Foundation: Nibe leads the charge in advanced Lithium-ion Battery pack research, positioning itself as a key player in the global quest for clean energy solutions.

• Precision Fabrication for Defence Production: Nibe aims to play a significant role in this domain, leveraging cutting-edge technology to create quality, reliable, eco-friendly products.

Defence Contributions:

• Nibe Limited actively participates in the production of structures, sub-assemblies, and assemblies for mobile weapon launchers. Notably, they contribute to programs like the Pinaka launcher and MRSAM launcher, serving the tri-services of the Indian Defence.

• The company also manufactures structural systems, including the Modular Bridge designed for the Indian Army and engineering solutions tailored for Naval applications.

State-of-the-Art Manufacturing Plant:

• Nibe’s advanced manufacturing facility serves as the backbone of its operations, exclusively dedicated to the defense industry. Here, precision engineering meets cutting-edge technology, ensuring the highest standards of quality and reliability.

Atmanirbhar Bharat Vision:

• In alignment with the vision of Atmanirbhar Bharat (Self-Reliant India), Nibe extends its commitment to fostering self-reliance in the defense sector. The company actively supports initiatives that promote Indigenous development and innovation in defense technologies.

Shareholding Pattern:

Product Portfolio:

BrahMos Missile Canister:

• Nibe Limited is involved in the production of BrahMos missile canisters, which play a crucial role in the deployment and protection of these advanced supersonic cruise missiles.

MRSAM Canister:

• The company manufactures canisters for the Medium Range Surface-to-Air Missile (MRSAM) system. These canisters house the missiles and ensure their safe transport and storage.

Jet Deflector:

• Nibe produces jet deflectors, essential components used in various defense applications, including missile systems and aircraft.

MRSAM Cassettes:

• The company contributes to the production of MRSAM cassettes, which are integral to the MRSAM launch system.

MRSAM Under-Frame:

• Nibe Limited manufactures under-frames for the MRSAM system, providing stability and support during missile launch operations.

K9 Vajra Tank:

• Nibe is involved in the production of components for the K9 Vajra self-propelled howitzer, a powerful artillery system used by the Indian Army.

Sarvatra Bridging System:

• The company contributes to the production of the Sarvatra bridging system, which enables rapid deployment of military bridges in various terrains.

Pinaka Launcher System:

• Nibe Limited manufactures components for the Pinaka multi-barrel rocket launcher system, enhancing the Indian Army’s artillery capabilities.

Rudder Blade Assembly:

• Nibe produces rudder blade assemblies used in naval vessels, ensuring precise control and maneuverability.

Diving Support Vessel UVLM Under Ship Deck:

• The company contributes to the construction of diving support vessels, including components for underwater operations.

MLS-Talwar UVLM:

• Nibe Limited manufactures components for the MLS-Talwar underwater vehicle launch system, used in naval applications.

Shipbuilding – Blasting & Primer Coating of Plates:

• Nibe provides services related to shipbuilding, including surface preparation (blasting) and primer coating of steel plates.

Fuel Storage Tank:

• The company produces fuel storage tanks, essential for various military and industrial applications.

SLCM Subcontainer Frame:

• Nibe Limited manufactures subcontainer frames for the Submarine-Launched Cruise Missile (SLCM) system.

Road Mobile Launcher Army Erecting Frame:

• Nibe contributes to the production of road-mobile launchers used by the Indian Army.

Damper Structure:

• The company manufactures damper structures, which play a role in controlling vibrations and movements in various systems.

HDPS Airbags:

• Nibe produces airbags used in the High-Density Polyethylene Pontoons System (HDPS) for naval applications.

Namika Fixture:

• Nibe Limited manufactures fixtures used in the assembly and maintenance of various defense equipment.

Oxygen Generation Plant:

• The company contributes to the production of oxygen generation plants, critical for life support systems in submarines and other enclosed environments.

Company Financial:

Financial FY24

MarketCap: 2808 cr
Stock PE: 127
ROCE: 20.2%
ROE:18.9%
PEG Ratio: 0.35
Debt to equity: 0.41
Debt: 69.2 cr
Working Capital: 68.5 cr
Promoter Holding: 50%
Int Coverage: 7.95
Pledged Percentage: 0
Return on Assets: 9.87%
MarketCap to Sales: 10.1

Key strengths:

• Cutting-Edge Technology: Nibe Limited leverages state-of-the-art technology in its manufacturing processes. This commitment to innovation ensures the production of high-quality, reliable, and eco-friendly products.

• Sustainable Transportation: The company’s E-Vehicles division pioneers sustainable transportation by producing top-notch eco-friendly E-bikes and rickshaws. [These vehicles are more economical than their fuel-powered counterparts and contribute to reducing transport-related air pollutants]

• Clean Energy Solutions: Through the BVM R&D Foundation, Nibe actively engages in advanced Lithium-ion Battery pack research. By positioning itself as a key player in clean energy solutions, Nibe contributes to a greener future.

• Defence Contributions: Nibe Limited plays a crucial role in defense production. It manufactures critical components for mobile weapon launchers like the Pinaka launcher and MRSAM launcher. [Additionally, it provides structural systems tailored for naval applications and the Indian Army]

• Environmental Responsibility: Nibe understands the urgency of addressing environmental challenges. The company actively contributes to shaping a future where energy is harnessed efficiently and responsibly.

Key Weaknesses:

• Market Volatility: Like any company, Nibe Limited operates in a dynamic market. Economic fluctuations, regulatory changes, and geopolitical factors can impact its performance.

• Competition: The defense industry is competitive, with other players vying for contracts and projects. Nibe must continually innovate and maintain its edge.

• Dependency on Defence Sector: Nibe’s focus on defense production means its fortunes are closely tied to government contracts and defense spending. Any shifts in these areas can affect the company.

• Technological Risks: While cutting-edge technology is an advantage, it also comes with risks. Nibe must manage technological challenges, including research and development costs and potential setbacks.

DISC: Invested in stock. Views are biased