Nirmitee Robotics IndiaShare price, financial results, shareholding and management
- Market cap
- ₹47 cr
- Stock P/E
- 57.8peers 23.6
- Book value
- ₹16.7
- Price to book
- 7.80
- EV / operating profit
- -
- Market cap to sales
- 6.48
- ROCE · FY26
- 15.6%
- ROE · FY26
- 14.5%
- ROE, 3-year average
- 2.2%
- Operating margin · FY26
- 15.6%peers 0.2%
- Sales growth, 3 years
- 10.3%
- Profit growth, 3 years
- 8.7%
- Debt to equity
- 0.24peers 0.18
- Borrowings
- ₹1.4 cr
- Interest cover
- 14.0×
- Cash from business / op. profit
- 127%
- Debtor days
- 79
- Pledged
- 0.00%
- Promoter holding
- 70.81%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 121
- 52-week high / low
- ₹131 / ₹79
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Nirmitee Robotics India share price chart
Close on 7 Sept 2026 · 0.00% on the day · Vol 1,800
Daily prices to 7 Sept 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 7 Sept 2026
- 3 months
- +13.0%
- Traded a day, 20 days
- ₹0.05 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | -19% | +35% |
| 3 years, a year | +10% | +9% |
| Latest half, H2 FY26 | -62% | -75% |
About Nirmitee Robotics India: business, products and customers
Nirmitee Robotics India cleans and disinfects the air-conditioning ducts of offices, hotels, hospitals, trains and aircraft, using inspection and cleaning robots it designed itself. It is based in Nagpur and its shares trade on the BSE SME startup platform.
The company sells a service: its crews send small robots into the air ducts of a building to inspect them on camera, then scrub, scrape, vacuum and sterilise them, including ozone treatment. Its annual report lists offices, hotels, convention centres, hospitals, train and bus coaches, aircraft, data centres and operation theatres among the places it works, and its accounts show retention money held by South Western Railway at Hubli and tender filing fees, so part of the work comes through public tenders. Alongside the service it also sells equipment, which brought in about a fifth of FY26 revenue.
The business model shapes the numbers. Service revenue is booked as each cleaning job is completed, and the main costs are the crews and their site expenses, salaries and tools, so margins depend on how busy the crews are and swing sharply from one half year to the next. The equipment sales are largely bought in and resold, which adds revenue but little margin. The company owns little machinery, so it needs little capital, but money is tied up in sums owed by customers and in bank deposits kept as margin against its overdraft.
Read more about the business
The company was set up in Nagpur in 2016 by three promoters who each hold an equal stake. A wholly owned subsidiary set up in Dubai to work abroad was struck off in July 2024 and its equity, loan and advances were written off, which drew a qualified audit opinion for FY25; there were no exports in FY26. The annual reports do not name any competitors, and the exchange industry list groups the company with unrelated service businesses, so no listed company is named here as comparable.
What is new: a gratuity fund for employees was set up in FY26, an advance was paid towards buying an office, and Rahul Kartik Shende joined the board in March 2026 after co-promoter Rajesh Narendra Admane stepped down as a director.
From the annual reports for FY25 and FY26 and the Crisil rating update of November 2025.
Read the deeper study ↓In its favour
- It brings in more cash than it shows as profit: ₹1.4 cr against ₹0.8 cr in FY26.
- It has little debt for its size: debt to equity 0.24.
- The promoters own a large part of the company: 70.81%.
To watch
- The advance paid towards buying an office and what it is used for (Annual Report FY26, p.107).
- The Crisil rating, which remains Issuer Not Cooperating because the company has not supplied information (Crisil rating update, 21 Nov 2025).
- Commissions to directors and rent to the associate company Vithoba Healthcare and Research against profit (Annual Report FY26, p.109 and p.113).
- Money owed by customers, including the older dues of more than a year (Annual Report FY26, p.106).
- Customers take longer to pay than before: 79 days in FY26, against 0 in FY17.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Nirmitee Robotics India revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Nirmitee Robotics India half-yearly results
SME companies report every six months · ₹ crore
| H1FY23 | H2FY23 | H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 1.53 | 3.84 | 1.40 | 3.59 | 0.86 | 8.07 | 4.14 | 3.08 |
| Expenses | 1.29 | 3.19 | 0.80 | 3.21 | 0.48 | 7.28 | 3.13 | 2.97 |
| Operating profit | 0.24 | 0.65 | 0.60 | 0.38 | 0.37 | 0.78 | 1.01 | 0.11 |
| OPM | 15.9% | 16.9% | 42.7% | 10.6% | 43.7% | 9.7% | 24.5% | 3.6% |
| Interest | 0.02 | 0.02 | 0.11 | 0.10 | 0.18 | 0.07 | 0.03 | 0.05 |
| Depreciation | 0.04 | 0.04 | 0.08 | 0.08 | 0.09 | 0.08 | 0.07 | 0.07 |
| Profit before tax | 0.19 | 0.60 | 0.49 | 0.15 | 0.12 | 0.67 | 0.92 | 0.12 |
| Net profit | 0.18 | 0.45 | 0.50 | -0.01 | 0.12 | 0.48 | 0.72 | 0.12 |
Nirmitee Robotics India profit and loss
Full years to March, FY17 to FY26 · ₹ crore, consolidated where reported
| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 0.06 | 0.70 | 2.01 | 3.26 | 3.50 | 4.16 | 5.38 | 6.02 | 8.92 | 7.22 |
| Expenses | 0.05 | 0.61 | 1.76 | 2.80 | 3.08 | 3.65 | 4.44 | 6.47 | 7.77 | 6.10 |
| Operating profit | 0.01 | 0.09 | 0.25 | 0.46 | 0.42 | 0.51 | 0.94 | -0.45 | 1.15 | 1.12 |
| OPM | 16.7% | 12.9% | 12.4% | 14.1% | 12.0% | 12.3% | 17.5% | -7.5% | 12.9% | 15.6% |
| Other income | 0 | 0 | 0 | 0.04 | 0.02 | 0.01 | 0.02 | 0.03 | 0.05 | 0.14 |
| Interest | 0 | 0 | 0 | 0 | 0.03 | 0.03 | 0.08 | 0.23 | 0.24 | 0.08 |
| Depreciation | 0 | 0.04 | 0.08 | 0.06 | 0.07 | 0.06 | 0.08 | 0.17 | 0.17 | 0.14 |
| Profit before tax | 0.01 | 0.05 | 0.17 | 0.44 | 0.34 | 0.43 | 0.80 | -0.82 | 0.79 | 1.04 |
| Tax rate | 0.0% | 60.0% | 29.4% | 25.0% | 29.4% | 25.6% | 21.3% | 18.3% | 24.1% | 22.1% |
| Net profit | 0.01 | 0.02 | 0.13 | 0.33 | 0.23 | 0.33 | 0.63 | -0.97 | 0.60 | 0.81 |
| EPS ₹ | 1 | 2 | 13 | 1.27 | 0.64 | 0.92 | 1.75 | -2.69 | 1.67 | 2.24 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Earnings per share before FY20 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Nirmitee Robotics India profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 16.7% | 12.9% | 12.4% | 14.1% | 12.0% | 12.3% | 17.5% | -7.5% | 12.9% | 15.6% |
| Tax rate | 0.0% | 60.0% | 29.4% | 25.0% | 29.4% | 25.6% | 21.3% | 18.3% | 24.1% | 22.1% |
| ROCE | · | 10.2% | 11.6% | 19.2% | 29.4% | 20.3% | 16.0% | -8.7% | 14.7% | 15.6% |
| ROE | · | 7.0% | 33.3% | 66.7% | 60.5% | 14.5% | 12.9% | -20.8% | 12.9% | 14.5% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Nirmitee Robotics India debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. Its loans are smaller than its own money. Last year the business brought in more cash than it showed as profit. Customers pay faster than they did in FY24, which frees up the company's money.
Bars below the line are cash going out.
Nirmitee Robotics India balance sheet
At each 31 March · ₹ crore
| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 0.01 | 0.02 | 0.02 | 0.43 | · | 0.60 | 3.60 | 3.60 | 3.60 | 3.60 |
| Reserves | 0.01 | 0.53 | 0.21 | 0.33 | · | 3.95 | 1.58 | 0.53 | 1.59 | 2.40 |
| Net worth | 0.02 | 0.55 | 0.23 | 0.76 | · | 4.55 | 5.18 | 4.13 | 5.19 | 6 |
| Borrowings | 0.08 | 0.33 | 1.83 | 1.76 | · | -0.01 | 1.30 | 2.95 | 1.71 | 1.44 |
| Other liabilities | 0.02 | 0.18 | 0.30 | 0.41 | · | 0.55 | 1.78 | 0.77 | 0.66 | 0.96 |
| Total liabilities | 0.12 | 1.06 | 2.36 | 2.93 | · | 5.09 | 8.26 | 7.85 | 7.56 | 8.40 |
| Fixed assets | 0.06 | 0.24 | 0.16 | 0.17 | · | 0.29 | 0.84 | 0.83 | 0.63 | 0.48 |
| Capital work in progress | 0 | 0 | 0 | 0.07 | · | 0.01 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | · | 0 | 0 | 0 | 0 | 0 |
| Other assets | 0.06 | 0.82 | 2.20 | 2.69 | · | 4.79 | 7.42 | 7.02 | 6.93 | 7.92 |
Nirmitee Robotics India cash flow
₹ crore
| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 0.02 | -0.06 | -1.29 | 0.56 | · | 0.45 | -0.57 | 2 | 1.84 | 1.42 |
| Cash from investing | -0.06 | -0.22 | 0.02 | -0.10 | · | -0.08 | -0.61 | -2.16 | 0.28 | -0.23 |
| Cash from financing | 0.09 | 0.75 | 1 | 0.13 | · | -0.04 | 1 | 0.10 | -1.07 | -0.32 |
| Net cash flow | 0.05 | 0.47 | -0.27 | 0.59 | · | 0.33 | -0.18 | -0.06 | 1.05 | 0.87 |
Working capital
Days
| FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Debtor days | 0 | 104 | 292 | 116 | · | 166 | 233 | 157 | 130 | 79 |
| Inventory days | · | · | · | · | · | · | 50 | 474 | 55 | 171 |
| Days payable | · | · | · | · | · | · | 222 | 155 | 0 | 0 |
| Cash conversion cycle | 0 | 104 | 292 | 116 | · | 166 | 61 | 475 | 185 | 250 |
| Working capital days | -182 | 63 | 278 | 120 | · | 194 | 229 | 139 | 76 | 74 |
Nirmitee Robotics India peers and competitors
Listed SME companies in the same industryBy sales, Nirmitee Robotics India is number 74 of the 86 listed SME companies in commercial services & supplies.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Glaam Up Jwel | 20 | 165.8 | 12.4 | 0.1 | 1.4% | 0.54 |
| Evans Electric | 42 | - | 11.7 | -0.4 | -1.0% | 0.03 |
| AA Plus Tradelink | 26 | 56.8 | 8.1 | 0.5 | -6.8% | 0.03 |
| Lex Nimble Solutions | 36 | 33.9 | 7.9 | 1.1 | 4.0% | 0.00 |
| Nirmitee Robotics India | 47 | 57.8 | 7.2 | 0.8 | 15.6% | 0.24 |
| Sun Retail | 6 | - | 7.1 | -0.2 | -37.7% | 0.21 |
| Zinema Media And Entertainment | 12 | 23.6 | 4.7 | 0.5 | 6.6% | 0.42 |
| Karnimata Cold Storage | 8 | 10.3 | 4.5 | 0.8 | 33.4% | 0.50 |
| Roni Households | 38 | - | 2.4 | -0.5 | -58.1% | 0.16 |
| Tarini International | 9 | 5.7 | 2.3 | 1.7 | 23.6% | 0.49 |
| O. P. Chains | 21 | 20.5 | 1.9 | 1 | -7.2% | 0.00 |
| Median of the 10 others | 21 | 23.6 | 5.9 | 0.5 | 0.2% | 0.18 |
Nirmitee Robotics India shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders is about the same.
Nirmitee Robotics India shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Sep 22 | Mar 23 | Sep 23 | Mar 24 | Sep 24 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 70.81% | 70.81% | 70.81% | 70.81% | 70.81% | 70.81% | 70.81% | 70.81% |
| Number of shareholders | 110 | 102 | 99 | 111 | 114 | 119 | 118 | 121 |
Nirmitee Robotics India study: the business from its own documents
Read from 5 of the company's own documentsNirmitee Robotics India key facts from the filings
Each figure with the document it comes from
- Revenue
- ₹7.2 cr
- Revenue from operations in FY26, down from ₹8.9 cr in FY25, while profit after tax rose to ₹0.81 cr from ₹0.60 cr.Annual Report FY26, p.96
- Services against equipment
- ₹5.6 cr : ₹1.6 cr
- Duct cleaning services against equipment sales in FY26; equipment bought for resale cost ₹1.4 cr.Annual Report FY26, p.96 and p.108
- Site expenses
- ₹2.2 cr
- The biggest cost line in FY26, the cost of putting crews and robots on site, down from ₹3.2 cr as work fell.Annual Report FY26, p.109
- Permanent staff
- 79
- Employees on the rolls at March 2026, up from 50 a year earlier, even as revenue fell.Annual Report FY26, p.75; Annual Report FY25, p.88
- Dubai write-off
- ₹2.2 cr
- Equity, loan and advances in the Dubai subsidiary written off after it was struck off in July 2024; the auditors qualified the FY25 accounts over the treatment.Annual Report FY25, p.92 and p.93; our arithmetic
Show 5 more facts
- Promoter holding
- 70.81%
- Held in three equal stakes of 23.60% by Jay Motghare, Kartik Shende and Rajesh Admane.Annual Report FY26, p.100
- Paid to directors and an associate
- ₹0.60 cr
- FY26 commissions of ₹0.36 cr to three directors, ₹0.12 cr salary to the whole-time director and ₹0.12 cr office rent to an associate company.Annual Report FY26, p.113; our arithmetic
- Cash held as margin
- ₹2.3 cr
- Of ₹2.4 cr of cash and bank balances at March 2026, held as margin money or security against borrowings; the bank overdraft stood at ₹1.1 cr.Annual Report FY26, p.101 and p.107
- Money owed by customers
- ₹1.6 cr
- Trade receivables at March 2026, half the ₹3.2 cr a year earlier, which turned operating cash flow positive.Annual Report FY26, p.95 and p.97
- Credit rating
- Crisil B+
- On a proposed ₹10 cr bank facility, carried as Issuer Not Cooperating because the company did not supply information to the agency.Crisil rating update, 21 Nov 2025
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
The company earns fees for cleaning air ducts with its own robots, a narrow service that needs crews more than machines.
Its weak spots are that work comes in uneven lumps with nothing disclosed about orders ahead, and that a venture abroad ended in a full write-off.
AverageCan it set its own prices?Its own robots and the safety of keeping people out of ducts give it something to charge for, but part of the work is won through tenders and the company itself names new rivals as a risk to margins.
AverageHow strong is it against rivals?It designed its own inspection and cleaning robots, but the patents carry very little value in the books and nothing stops others adopting similar machines.
WatchWho are its customers?Building owners and operators such as hospitals, hotels, offices and railways, but the reports name no customer and give no figure for how much the largest ones bring in.
StrongDoes it need a lot of money?No. It owns little machinery and spent nothing on new assets in FY26; the money it needs is mostly working capital, funded by a bank overdraft backed by deposits.
WatchCan it keep finding new work?The company points to growing interest in indoor air quality, but it gives no order book, revenue fell in FY26 and the attempt to work abroad ended within two years.
WatchDo good and bad years swing a lot?Yes. With crews and staff as the main costs, a thin half year leaves little profit, and the reports explain the swings only in general words.
Who runs Nirmitee Robotics India?
Promoters, directors and officers; tap a name for the background
JPJay Prakash MotghareFounder Promoter and Whole-Time Director · holds 23.60%
Bachelor of Arts from Nagpur University with more than 15 years in the manufacturing and service industry; earlier worked with Progeon, ADFC, GE Money and Citi Corporation before founding the company, and is an affiliate member of the Indian Society of Heating, Refrigerating and Air Conditioning Engineers. Director since August 2016, re-appointed whole-time director from March 2025 to February 2030. The annual report records Shweta Jay Motghare as the wife of Jay Prakash Motghare.
Annual Report FY25, p.10, p.12 and p.13KEKartik Eknath ShendePromoter and Non-Executive Director · holds 23.60%
On the board since July 2017; the annual report gives the area of expertise as developing and carrying out strategic plans. Signed the FY26 letter to shareholders and sits on the nomination and stakeholders committees.
Annual Report FY26, p.9, p.35 and p.100RNRajesh Narendra AdmaneCo-Promoter · holds 23.60%
Bachelor of Science (Technology) in petroleum refining and petrochemical technology; a non-executive director from October 2016 who guided the technical know-how, and stepped down from the board on 25 March 2026.
Annual Report FY25, p.15; Annual Report FY26, p.40 and p.100SJShweta Jay MotghareNon-Executive Woman Director
Post-graduate with more than five years in the service industry; on the board since October 2023.
Annual Report FY25, p.12 and p.13RKRahul Kartik ShendeAdditional Non-Executive Director
Appointed in March 2026 and made chairman of the audit and stakeholders committees; the annual report gives no further background.
Annual Report FY26, p.29 and p.42PPPradeep Prakash ThadaniIndependent Director
Chairs the nomination and remuneration committee; the annual report gives no further background.
Annual Report FY26, p.39 and p.43ADAtul DhawadChief Financial Officer
Key managerial personnel as chief financial officer; the annual report gives no further background.
Annual Report FY26, p.39Nirmitee Robotics India latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹3.1 cr (-62%), net profit ₹0.1 cr (-75%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 70.81%.
Nirmitee Robotics India announcements
5 on record, latest first; each opens the filing on the exchange
Nirmitee Robotics India annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Nirmitee Robotics India share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Nirmitee Robotics India's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 23 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (36,01,188 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY19 (₹13.00) and FY20 (₹1.27) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY17 to FY26.
- iPrices run to the close on 7 Sept 2026, from the exchange's daily figures.
Questions people ask about Nirmitee Robotics India
What does Nirmitee Robotics India do?
Nirmitee Robotics India cleans and disinfects the air-conditioning ducts of offices, hotels, hospitals, trains and aircraft, using inspection and cleaning robots it designed itself. It is based in Nagpur and its shares trade on the BSE SME startup platform.
What is the share price of Nirmitee Robotics India?
₹130 at the close on 7 Sept 2026, from the exchange's daily figures.
What is the market cap of Nirmitee Robotics India?
₹47 cr at the close on 7 Sept 2026, on 36,01,188 shares.
What is the P/E of Nirmitee Robotics India?
57.8 times FY26 profit at the close on 7 Sept 2026 (our arithmetic).
What are Nirmitee Robotics India's revenue and profit?
Revenue ₹7 cr and profit after tax ₹1 cr in FY26.
Who are the promoters of Nirmitee Robotics India?
Jay Prakash Motghare, Kartik Eknath Shende, Rajesh Narendra Admane; promoters held 70.81% at 31 March 2026.
What is Nirmitee Robotics India's website?
www.nirmiteerobotics.com
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Built from 3 annual reports, 2 credit rating notes, 5 exchange announcements, 8 shareholding patterns and 10 years of reported results. Every figure carries its source; where the documents are silent, the page says so.