Nitco Live Equity Market Quotes, Charts, Tips

Nitco (NITCO) is a complete flooring and wall solutions provider, focused on the premium tile segment through a combination of in-house manufacturing and outsourcing. It was incorporated as a private limited company on Jul. 25, 1966 and converted into a public limited company with effect from Jan. 25, 1996. Earlier known as Nitco Tiles, it got its present name with effect from Jul. 10, 2008. Products such as ceramic tiles, cement and vitrified tiles, cement terrazzo tiles, pavers and processing and distribution of imported marble. NITCO sells its products at retail level as well as supplies them to institutional players and corporates. In FY08, several innovative products were successfully launched in the ceramic category including Metallica, Innova Series, Vintage Series, Estonia Series, Breton Stone Series, Timberland Series, Matrix Series, Country Series and Ethinica; and Orient White, Java, Taiga, Florence, Viva, Milano and Murano in the vitrified tiles category. The ceramic titles manufacturing plant is located at Alibaug near Mumbai and cement tiles manufacturing units at Thane, Bangalore and Hyderabad with installed capacities of 6.3 million sq. m. ceramic floor tiles and 9.1 million sq. m. mosaic tiles and chips. Importing its entire requirement of vitrified tiles from Foshan Chancheng Oulian Construction Ceramics Company, a manufacturer of vitrified tiles in Foshan, China, the company has tied up with two Chinese companies to widen its portfolio and enhance market knowledge, focusing exclusively on the premium segment. This tie-up hiked vitrified tiles` share in its product segments to 51% in 2007-2008, backed by its pioneering strategy of Chinese imports. Its total licensed quota for marbles has increased to 15,895 MT. Foraying into the real estate business, the company commenced construction on an IT Park project with a total saleable area of 256,000 sq. ft. at Thane in Maharashtra. Nitco Realties, a 100% subsidiary, is developing a premier residential project in a SPV (joint venture -20% share) with a total saleable area of 236,000 sq. ft. at Worli in Mumbai. A pan-India presence has been established consisting of direct dealers and retail outlets to market its products with a strong distribution network with 18 sales and marketing offices, 21 warehouses, and strengthened the number of direct dealers to 700 in 2007-2008. at total of 12 Le Studio stores have been launched to cater to the retail market. The registered office is at Maker Chambers III, 8th Floor, Nariman Point, Mumbai-400021.