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NSLNISP - Fundamental Analysis: Financial Health & Valuation

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Rating: 2.9

Last Updated Time : 19 Mar 26, 07:10 pm

Fundamental Rating: 2.9

Stock Code NSLNISP Market Cap 10,896 Cr. Current Price 37.2 ₹ High / Low 49.6 ₹
Book Value 44.4 ₹ Dividend Yield 0.00 % ROCE -13.0 % ROE -16.6 %
Face Value 10.0 ₹ DMA 50 39.8 ₹ DMA 200 41.3 ₹ Chg in FII Hold -0.32 %
Chg in DII Hold 0.33 % PAT Qtr -244 Cr. PAT Prev Qtr -115 Cr. RSI 40.0
MACD -1.06 Volume 32,12,828 Avg Vol 1Wk 36,54,200 Low price 28.4 ₹
High price 49.6 ₹ Debt to equity 0.41 52w Index 41.5 % Qtr Profit Var 67.8 %
EPS -2.75 ₹ Industry PE 20.1

📊 Financials

  • Revenue & Profitability: PAT worsened from -₹115 Cr. to -₹244 Cr., showing deep losses. EPS at -₹2.75 reflects negative earnings.
  • Margins & Returns: ROCE (-13.0%) and ROE (-16.6%) are negative, indicating poor efficiency and shareholder returns.
  • Debt: Debt-to-equity ratio of 0.41 indicates moderate leverage, manageable but risky given losses.
  • Cash Flow: Weak due to sustained losses, though moderate debt provides some cushion.

💹 Valuation

  • P/E Ratio: Not applicable due to negative earnings.
  • P/B Ratio: ~0.84 (Price ₹37.2 / Book Value ₹44.4) → Trading below book value, reflecting market pessimism.
  • PEG Ratio: Not meaningful due to negative earnings.
  • Intrinsic Value: Current price reflects distress valuation, with limited upside unless profitability improves.

🏢 Business Model & Competitive Advantage

  • NSL NISP operates in steel production, a cyclical and capital-intensive industry.
  • Competitive advantage is limited due to losses and weaker efficiency compared to peers.
  • No dividend yield, reflecting focus on survival and reinvestment.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive only near ₹28–32 range (close to 52W low of ₹28.4), given current losses.
  • Long-Term Holding: High-risk investment. Suitable only for speculative investors betting on turnaround. Conservative investors should avoid until profitability stabilizes.


✅ Positive

  • Stock trades below book value, offering potential value if turnaround occurs.
  • DII holdings increased (+0.33%), showing some domestic institutional support.
  • Debt-to-equity ratio of 0.41 is moderate compared to industry norms.

⚠️ Limitation

  • Negative ROCE and ROE highlight poor efficiency.
  • Consistent losses limit investor confidence.
  • No dividend yield reduces attractiveness for income investors.

📉 Company Negative News

  • PAT worsened significantly compared to previous quarter.
  • FII holdings reduced (-0.32%), showing cautious foreign sentiment.
  • MACD at -1.06 indicates bearish technical momentum.

📈 Company Positive News

  • DII holdings increased (+0.33%), reflecting some domestic institutional confidence.
  • Stock trading near DMA 50 (₹39.8) shows technical support zone.

🏭 Industry

  • Steel industry is cyclical, tied to infrastructure demand and global commodity prices.
  • Industry PE at 20.1 suggests peers are profitable, highlighting NSL NISP’s relative weakness.

🔎 Conclusion

  • NSL NISP is currently loss-making with weak fundamentals and negative return ratios.
  • Valuation below book value reflects market pessimism, but offers speculative opportunity if turnaround occurs.
  • Best strategy: Avoid aggressive buying. Speculative investors may accumulate near ₹28–32 range, while long-term conservative investors should wait for profitability improvement.

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