NITCO was locked in upper circuit of 5% at Rs 130.45 after the company announced that it has secured an order worth Rs 50 crore from Hindustan Associates.
In an exchange filing, the company said, It has secured a contract worth Rs 50 crore, split into about Rs 4 crore allocated for the fourth quarter of the current financial year (FY25), and around Rs 46 crore scheduled for the next financial year from Hindustan Associates, one of Mumbais largest tile dealers.NITCO makes designer tiles. Its product ranges from ceramic tiles, mosaic tiles, vitrified tiles, vitrified flooring, and marble.
The company reported consolidated net loss of Rs 34.60 crore in Q2 FY25 as against a net loss of Rs 31.65 crore recorded in Q2 FY24. Net sales dropped by 17.7% year-over-year (YoY) to Rs 65.83 crore during the period under review.
NITCOs current market capitalisation on the BSE stands at Rs 937.40 crore.
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