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1. At a Glance
Nitin Spinners spins cotton into yarn and weaves part of that yarn into fabric. Revenue for the three months to June 2026 was ₹875.03 crore. That is 10.3% above the ₹793.31 crore of the same quarter a year earlier. It also sits 1.8% above the ₹859.79 crore of the three months to March 2026. Operating profit was ₹155.58 crore, against ₹111.25 crore a year earlier. Profit after tax was ₹75.27 crore, against ₹40.99 crore. Earnings per share came to ₹13.39.
Management calls this the highest-ever quarterly revenue for the second quarter running. The record was broken, and then it was broken again.
Underneath the quarter sits a construction site. The company is spending roughly ₹1,120 crore, adding 22,400 tonnes a year of spinning capacity. The same plan adds 35 million metres of weaving and finishing capacity. A separate renewable power expansion accounts for about ₹230 crore. CARE Ratings, a credit-rating agency, says ₹525 crore of that had been incurred as of 16 May 2026. A credit rating is an opinion on how likely a borrower is to repay. On 30 June 2026, CARE upgraded the long-term rating to CARE A+; Stable, from CARE A; Positive. It reaffirmed CARE A1 on the short-term facilities.
On 19 August 2026, the company acquired 95,68,162 shares of CGE II Hybrid Energy. That took its stake there to 7.36%, a textile company buying into a power company. Electricity is the raw material nobody puts on the label.
As of March 2026, the installed base held 4,34,832 spindles and 5,864 rotors. It also held 231 air-jet weaving machines and 264 air-jet spinning positions. Circular knitting machines numbered 77.
2. Introduction
Nitin Spinners was founded in 1992 at Bhilwara, in Rajasthan, by the Nolkha family. It began with 384 rotors and an investment of ₹3 crore. A rotor is the spinning unit that twists loose cotton into coarse yarn. Thirty-four years later the rotor count stands at 5,864.
The company’s own timeline reads as a long sequence of machines being bolted to floors. Ring spinning arrived in 1993 with 14,112 spindles, alongside seven knitting machines for knitted fabric. Capacity doubled to 27,216 spindles by 2002. The share sale to the public came in 2006 and was over-subscribed 22 times. An integrated textiles complex followed at Begun, in Chittorgarh district. That site held 76,992 spindles, 552 rotors and 168 air-jet weaving machines. Dyeing, printing and finishing facilities went in there as well. In 2022 the company announced roughly ₹955 crore of expansion, and completed it in 2024. That work installed 1,27,488 spindles and 264 air-jet spinning positions. It also brought 3,312 rotors, 14 knitting machines and 54 weaving machines. Finishing capacity rose by 10 million metres a year.
The year to March 2025 delivered what the company called its highest-ever revenue at that point. Revenue in the year to March 2026 was ₹3,213.87 crore. CARE Ratings, a credit-rating agency, attributes that flatness to global disruptions and to uncertainty around United States tariffs. CARE also points to pressure on yarn spreads, the gap between the yarn price and the cotton price. International cotton prices ran below domestic prices for part of the year, CARE says. The agency puts knitted fabric sales volumes down about 25%.
The company holds a Government of India export-house recognition and sells into more than 55 countries. It also holds a Gold Trophy from Texprocil for highest employment generation in 2023-24. That is a category which rewards being large and labour-heavy, in a trade where both are getting harder. CARE says exports were about 62% of revenue in the year to March 2026.
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3. Business Model: WTF Do They Even Do?
The company turns cotton into yarn, turns some of the yarn into cloth, and sells both. The yarn book runs from Ne 6 to Ne 100. Ne is a count of fineness: the higher the number, the finer the thread. Coarse open-end yarn for towels sits at one end of that range. Compact combed cotton at 100 count sits at the other. That is roughly the distance between an industrial mop and a shirt somebody would notice.
Inside the range sit ring-spun combed and carded yarns, compact yarn, open-end yarn and poly-cotton blends. There are multifold, core-spun, S and Z twist, and zero-twist yarns for towels. Gassed yarn, slub yarn and compact fancy slub yarn follow, the last being slub yarn that went to finishing school. Certified lines cover organic GOTS and OCS, BCI, Supima and Giza cotton. RegenAgri, Fair Trade and recycled-fibre yarns are offered too. One company keeps certification paperwork for cotton grown on several continents, then ships it as thread.
End uses listed for the yarn include woven apparel, knitted apparel, furnishing fabrics and terry towel. Denims, medical fabrics and tea bags appear on the same list. Somewhere in the world, a cup of tea is being strained through Bhilwara.
The fabric side carries 40 million metres of woven finishing capacity and 11,000 tonnes of knitted capacity. Woven output covers twills, gabardines, ripstop and canvas, with dobby and ottoman alongside. Finishes include Teflon, wrinkle-free, water-repellent and nano-care. Anti-bacterial, soil-release and bio-polish finishes are also on the sheet. End uses run from fashion wear to defence wear to hotel apparel, so one loom shed serves a runway and a room-service uniform.
In the three months to June 2026, yarn brought in ₹633.5
