Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 8 Sep
Source: Bse
NIBE Limited (NIBE)
Small CapIndustrials stocks · Small cap · NSE
NIBE Limited operates in Heating & Cooling, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 21 Oct, 01:01 pm ISTDetails
Quote21 Oct, 01:01 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result14 Aug, 07:43 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Industrials P/E 26.2 (n=537)
Technical timing lens
Trend score and candlestick chart
49NeutralSMA20 -4.6% / mo · MACD +
Stock trend: 51
Sector RS: 46
Sector 3M: -7.6% vs Nifty 500 -6.0%
Industrials FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
NIBED candles · FIT view+11.4%TODAY · PROVISIONALLatest price ₹1227.80 on 2026-10-21
Today's candle is provisional from the latest intraday quote; completed-candle scans remain unchanged.
Bar
-4.2%
RSI
44
MACD hist
8.31
52W pos
40%
2026-10-21O ₹1282.00H ₹1282.10L ₹1222.80C ₹1227.80Vol 59,999 shIntraday candle
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
NIBENifty India ManufacturingNifty 500
- NIBE
- -17.5%
- Nifty 500
- -5.6%
- Nifty India Manufacturing
- -5.8%
- Vs Nifty 500
- -11.9 pp
Chart stats
19 Oct 2026- From 52W high
- -30.4%
- 52W range position
- 46%
- ATR (14)
- 5.0%
- Volume vs 20D
- 0.34x
- Avg traded value
- ₹18.7 Cr
- 20D price channel
- ₹1,190 - ₹1,413
₹1,848
₹809.6 - ₹1,848
₹64.6
Latest completed session
20-session average
62.9% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is weak.
Suggested next step
Verify management risk first
Do not let cheap valuation override weak Trust or governance evidence.
U-Score
Legacy · OVERVALUED23
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue -23.2% · PAT -1300.0% YoY
Technical
Neutral49
Price trend and sector-relative-strength timing.
Valuation
Legacy model-1110.9%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence43
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100Rev -23% YoY · PAT -1300% YoY · margin compression
Filed 14 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹63 Cr | -23.2% | -75.8% |
| EBITDA | ₹-10 Cr | -225.0% | -119.6% |
| Operating margin | -15.0% | -2400 bps | -3500 bps |
| PAT | ₹-12 Cr | -1300.0% | -142.9% |
| PAT margin | -19.1% | -2027 bps | -2982 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 447.00
- P/B
- 5.17
- EV/EBITDA
- 36.31
- Market Cap
- 1893.00Cr
Profitability
- ROE
- 5.75%
- ROCE
- 11.00%
- ROA
- 0.65%
- Dividend Y
- 0.11%
Growth (CAGR)
- Revenue 5Y
- 178.00%
- EPS 5Y
- 164.00%
- Revenue 3Y
- 58.00%
- EPS 3Y
- 54.00%
Balance Sheet
- Debt/Equity
- 0.29
- Interest Coverage
- 2.31×
- Altman Z
- 6.11
- Book Value
- 236.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 3/5
- OCF
- -33.00 Cr
- EPS TTM
- 2.58
Shareholding
- Promoter Hold
- 51.46%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 40%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 63.0-75.8% vs prev
Net Profit
₹ CrLatest: -12.0-142.9% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 44. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~4.9% over last month) — short-term momentum negative.
- RSI(14) at 44 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 34% off 52W high · 52% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
68
RS percentile
Stage 3 Topping
1M return
-0.1%
3M return
-17.5%
6M return
+18.9%
1Y return
+4.0%
RS 1D
-3
RS 20D
+15
Sector rank
#2
Industry rank
#19
Stage evidence
- 29.9% below the 52-week closing high after prior strength.
- The 30-week proxy has stalled (+2.8% over 20 sessions).
- Price has not yet confirmed a full Stage 4 downtrend.
50-DMA
price below
200-DMA
price above
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 92.18-3.45%
RS vs Nifty 50092
Valuation & peers
U-Score 23 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 23 · legacy U-Score band OVERVALUED · valuation evidence and comparable companies
OVERVALUED
Fundamental score breakdown
U band · OVERVALUEDValuation0/30
Growth12/25
Quality0/20
Balance Sheet6/15
Cash Flow2/10
Piotroski
5/9 (+3)
Penalties
0
Raw sum
23
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
23/100 · legacy band OVERVALUED
Positive drivers
- Growth contributes 12/25 to the score.
- Balance sheet contributes 6/15 to the score.
- Cash flow contributes 2/10 to the score.
Main drags
- Fair-value margin of safety is negative at -1110.9%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Blended valuation: PE, EV/EBITDA, FCF yield, and balance-sheet checks
For this sector, IndiaPulse uses a blended lens rather than relying on a single valuation ratio.
Primary lens
PE, EV/EBITDA, margin of safety, and FCF yield together.
Secondary checks
ROE/ROCE, growth, cash conversion, leverage, promoter risk.
Main risk check
One cheap metric is not enough if quality or cash flow is weak.
PE
447.0
PB
5.2
EV/EBITDA
36.3
ROE
5.8%
ROCE
11.0%
FCF Yield
—
Debt/Equity
0.3
MoS
-1110.9%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
23
Previous: 23
Legacy U-Score band
OVERVALUED
Previous: OVERVALUED
Margin of safety
-1110.9%
Previous: -1168.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
23
23
23
23
23
23
23
23
23
23
23
23
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹117.05
-949.0% MoS
Growth-justified P/E
39.3
Growth-justified Value
₹101.39
-1110.9% MoS
PEG
3.73
Comparable companies
Peers
Business-comparable peers in Industrials — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
TIL
Small
TIL Limited
Industrial Machinery
match 60
11
—
-26.0%
—
OVERVALUED
HMT
Small
HMT Limited
Industrial Machinery
match 60
16
—
—
—
OVERVALUED
YUKEN
Small
Yuken India Limited
Industrial Machinery
match 60
28
98.1
4.3%
-150%
OVERVALUED
DIFFNKG
Small
Diffusion Engineers Limited
Industrial Machinery
match 59
51
30.5
12.4%
+29%
FAIR VALUE
JNKINDIA
Small
JNK India Limited
Industrial Machinery
match 58
35
32.2
12.1%
+22%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
NIBE Limited operates in Heating & Cooling, within the Industrials sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
43Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 2nd percentile of the scored universe and 1st percentile within Industrials. Main check: results consistency is weak at 5/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
13 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
2nd percentile
overall median 67 · Industrials: 1st pctile, median 68 · Small: 2nd pctile, median 66
Evidence depth
Financial-only
13 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Do not rely on management narrative unless hard turnaround evidence is visible.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
70
acceptable · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
67
acceptable · leverage and solvency
Discipline
38
weak · capital discipline
Results
5
weak · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
Trust risks
- ▸Operating cash flow is negative at ₹-35 Cr.
- ▸3 latest quarters had PAT decline worse than 25% YoY.
- ▸Promoter holding fell 3.6%.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching NIBE Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 5 Sep - Nibe Limited has informed regarding copies of Newspaper Publication towards the 21st Annual General Meeting of the Company
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 18 Aug - Nibe Space wins Rs 12.15 crore MSEDCL GIS survey contract, executable in tranches over 42 months.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order 14 Aug - NIBE won ₹563.35 crore Indian Army contract for 30 loiter munition systems, executable within 12 months.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 16 Jun - Nibe refutes allegations, confirming ₹293 crore Army Suryastra order and successful May 18-19 technical trials.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.