Key Metrics of Nezone Pipes And Structures
About Nezone Pipes And Structures
Sectors
Company details
Operational Areas of Nezone Pipes And Structures
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
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Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 24 Jun 2026 | ICRA | Reaffirmed | A- | A2+ | Stable | ₹55.0 Cr | View |
Credit strengths (ICRA, Jun 2026)
+ Established position of the firm in steel tube manufacturing business
NPS has been involved in the steel tube manufacturing business for more than a decade and has a strong operating base in the northeastern part of India.
+ Favourable financial risk profile, characterised by low reliance on external debt
The firm’s financial risk profile is comfortable characterised by low reliance on external debt.
Credit challenges
− Risks associated with entity’s status as a partnership firm
The firm faces risks arising from the entity’s status as a partnership firm, including the possibility of capital withdrawal by partners, as observed in the previous years.
Could lead to an upgrade
ICRA may upgrade NPS’s ratings if there is a significant increase in its earnings, strengthening its debt coverage metrics and net worth on a sustained basis.
Could lead to a downgrade
ICRA may downgrade NPS’s ratings if a weakening of the product spread results in a significant deterioration of the entity’s profitability and sustained period of weak earnings. A deterioration in the
Agency-reported financials (ICRA, 24 Jun 2026)
| Metric | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Operating income | ₹699 Cr | ₹394 Cr | ₹448 Cr |
| PAT | ₹40.60 Cr | ₹7.10 Cr | ₹17.00 Cr |
| OPBDIT/OI | 8.8% | 4.2% | 6.1% |
| PAT/OI | 5.8% | 1.8% | 3.8% |
| Total outside liabilities/Tangible net worth (times) | 0.40× | 0.10× | 0.60× |
| Total debt/OPBDIT (times) | 1.00× | 0.70× | 2.30× |
| Interest coverage (times) | 4.40× | 2.30× | 4.50× |
| Revenue growth (YoY) | — | −43.7% | 13.9% |
| EBITDA (margin × income) | ₹61.48 Cr | ₹16.53 Cr | ₹27.34 Cr |
| Implied total debt (debt/EBITDA × EBITDA) | ₹61.48 Cr | ₹11.57 Cr | ₹62.88 Cr |
| Implied interest cost (EBITDA ÷ coverage) | ₹13.97 Cr | ₹7.19 Cr | ₹6.08 Cr |
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| Long term fund based – Cash credit | Working capital & bank lines | ₹80.0 Cr | ₹50.0 Cr | −37.5% | A- (Stable) | Reaffirmed | ICRA |
| Short term non-fund based – Letter of credit (10.00) (5.00) Long term/Short term non-fund based – Bank guarantee | Non-fund based limits | ₹10.0 Cr | ₹5.00 Cr | −50.0% | A- / A2+ (Stable) | Reaffirmed | ICRA |
Credit assessment · Manufacturing
Rating Methodology – Manufacturing Companies (Mar 2025) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Next action stable or better (model) | 56% |
| Information on file | 56% · missing: Debt obligations and repayment schedule, Capex / investment plans, Auditor details, Shareholding pattern |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 56% chance the next rating action is stable or better
- Current rating A- (investment grade)
- Interest coverage 4.5×
- Working-capital limits 7.4% utilised on average
Rated limits by facility
Timeline
From the report
The average utilisation of fund-based facilities remained low at ~7.4% over the past 15 months ended April 2026, indicating sufficient liquidity buffers.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Competitors of Nezone Pipes And Structures
Top competitors by location
| Company | Description | Domain | Founded | Location |
|---|---|---|---|---|
 APL Apollo Tubes |
Pipes & Tubes · Steel, Metals & Pipes | aplapollo.com | — | Delhi, India |
| Tube Investments Of India Limited | Pipes & Tubes · Steel, Metals & Pipes | — | — | Chennai, Tamil Nadu, India |
 Jindal SAW |
Pipes & Tubes · Steel, Metals & Pipes | jindalsaw.com | — | Kosi Kalan, India |
| Pipes & Tubes · Steel, Metals & Pipes | welspuncorp.com | — | Anjar, Gujarat, India | |
| Pipes & Tubes · Steel, Metals & Pipes | surya.co.in | — | Bahadurgarh, India | |
| Maharashtra Seamless | Pipes & Tubes · Steel, Metals & Pipes | — | — | Raigad, India |
| Pipes & Tubes · Steel, Metals & Pipes | ratnamani.com | — | Ahmedabad, India | |
| Hi-Tech Pipes Ltd | · Manufacturing (Metals and Chemicals, and products thereof) | — | — | New Delhi, Delhi, India |
 Prince Pipes And Fittings Limited |
Pipes & Tubes · Steel, Metals & Pipes | princepipes.com | — | Silvassa, Dadra & Nagar Haveli, India |
| Sambhv Steel Tubes Limited | · Manufacturing (Metals and Chemicals, and products thereof) | — | — | Chhattisgarh, India |
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Business activities and related parties
Principal business activities and related-party transactions are read from MGT-7 and AOC-4 filings.
Filings
No filings on record yet.