Nitin Spinners Limited Initiating Coverage Report By East Indian Securities Ltd

Pedigreed, Prudent and Visionary Promoters – NSL is promoted by Mr. R. L. Nolkha who has spent around 25 years in the Industry before setting up NSL. Over the last 25 years, the Nolkha family has grown the business very efficiently and have successfully navigated the challenges and threats. NSL’s expansions have been prudently planned in order to keep gearing in check and the management has consciously capped the interest cost to sales at 5%. The management’s long term vision is to reach half a million spindles of yarn capacity. As a part of forward integration, the company also plans to enter fabric processing and value added products which will boost profitability.

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