NTC Industries Ltd

₹ 172 -9.78%

27 Jan 2:48 p.m.

About

Incorporated in 1931, NTC industries Ltd manufactures Cigarettes and Smoking Mixtures^[1]

Key Points

Business Overview:^[1]
Company is a part of RDB Industries. It does processing of tobacco blends and manufactures packed cigarettes, other tobacco products, etc. which it trades in domestic market and exports to Brussels, Rotterdam, Amsterdam, Paris and Luxemburg. Also, company has a license to manufacture FMCG products

Website BSE

Market Cap ₹ 250 Cr.
Current Price ₹ 172
High / Low ₹ 236 / 150
Stock P/E 14.0
Book Value ₹ 152
Dividend Yield 0.00 %
ROCE 9.28 %
ROE 7.27 %
Face Value ₹ 10.0

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Pros

Stock is trading at 1.19 times its book value
Company is expected to give good quarter

Cons

Though the company is reporting repeated profits, it is not paying out dividend
Company has a low return on equity of 7.30% over last 3 years.
Earnings include an other income of Rs.12.3 Cr.
Debtor days have increased from 59.1 to 71.2 days.
Promoter holding has decreased over last 3 years: -11.6%
Working capital days have increased from 105 days to 337 days

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Fast Moving Consumer Goods Fast Moving Consumer Goods Cigarettes & Tobacco Products Cigarettes & Tobacco Products

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	17.72	9.09	10.25	12.14	10.02	7.35	12.61	7.63	15.42	13.43	23.60	28.11	26.26
	14.54	8.59	8.08	9.29	7.84	5.71	10.95	5.18	12.79	10.20	17.81	22.38	21.82
Operating Profit	3.18	0.50	2.17	2.85	2.18	1.64	1.66	2.45	2.63	3.23	5.79	5.73	4.44
OPM %	17.95%	5.50%	21.17%	23.48%	21.76%	22.31%	13.16%	32.11%	17.06%	24.05%	24.53%	20.38%	16.91%
	1.30	1.08	-0.79	1.86	1.90	3.94	-3.06	0.76	1.59	1.68	3.64	3.97	3.02
Interest	0.10	0.09	0.12	0.09	0.12	0.11	0.13	0.91	1.38	1.85	1.79	1.76	1.63
Depreciation	0.52	0.51	0.51	0.49	0.55	4.23	0.53	0.40	0.40	0.39	0.37	0.37	0.37
Profit before tax	3.86	0.98	0.75	4.13	3.41	1.24	-2.06	1.90	2.44	2.67	7.27	7.57	5.46
Tax %	14.51%	-24.49%	252.00%	15.74%	13.78%	-1.61%	27.18%	19.47%	20.08%	12.36%	23.80%	24.97%	20.15%
	3.30	1.23	-1.14	3.48	2.93	1.26	-2.61	1.52	1.95	2.34	5.54	5.67	4.36
EPS in Rs	2.76	1.03	-0.95	2.91	2.45	1.05	-2.19	1.27	1.63	1.63	3.82	3.91	3.00
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	23	25	18	23	24	22	21	29	31	49	42	60	91
	20	22	13	16	18	17	20	19	23	43	37	46	72
Operating Profit	3	3	5	6	6	5	1	10	8	7	5	14	19
OPM %	13%	10%	30%	28%	26%	22%	6%	36%	26%	13%	12%	24%	21%
	1	2	3	4	3	10	7	4	6	5	4	8	12
Interest	1	1	4	3	2	2	1	1	0	0	0	6	7
Depreciation	1	1	2	2	2	2	2	2	2	2	2	2	2
Profit before tax	2	2	3	5	5	11	6	12	12	9	7	14	23
Tax %	32%	5%	32%	25%	21%	22%	21%	33%	22%	28%	25%	20%
	1	2	2	4	4	9	4	8	9	6	5	11	18
EPS in Rs	1.16	2.16	1.59	3.54	3.41	7.98	4.08	6.73	7.54	5.29	4.24	7.83	12.36
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	9%
5 Years:	23%
3 Years:	24%
TTM:	113%

Compounded Profit Growth
10 Years:	20%
5 Years:	31%
3 Years:	8%
TTM:	405%

Stock Price CAGR
10 Years:	17%
5 Years:	33%
3 Years:	32%
1 Year:	-12%

Return on Equity
10 Years:	9%
5 Years:	9%
3 Years:	7%
Last Year:	7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	11	11	11	11	11	11	11	12	12	12	12	15	15
Reserves	20	22	24	31	35	43	46	59	71	77	91	196	206
	5	30	29	24	17	12	7	4	6	7	46	77	75
	19	19	16	16	18	17	20	28	16	18	20	41	46
Total Liabilities	54	82	80	82	81	83	84	103	105	113	169	329	342
	22	30	34	35	34	31	30	28	29	29	129	128	127
CWIP	9	6	3	1	1	1	2	4	2	6	1	1	1
Investments	1	1	1	5	4	4	2	2	4	5	16	108	110
	23	45	42	41	42	47	50	68	69	74	23	92	104
Total Assets	54	82	80	82	81	83	84	103	105	113	169	329	342

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-15	4	6	2	-4	1	2	3	4	90	-2
	-5	-0	2	4	11	5	1	-6	-3	-90	-29
	21	-5	-8	-5	-7	-6	3	-3	-1	-1	30
Net Cash Flow	1	-1	0	1	-1	0	6	-5	0	0	-1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	84	55	27	27	60	50	64	95	73	38	68	71
Inventory Days	167	129	509	184	121	131	222	374	144	93	125	104
Days Payable	100	70	223	168	92	43	209	353	56	25	66	88
Cash Conversion Cycle	150	114	314	43	89	138	76	116	162	107	126	87
Working Capital Days	-61	-100	65	242	306	464	443	380	547	357	-380	337
ROCE %		5%	11%	13%	14%	13%	8%	18%	14%	10%	8%	9%

Shareholding Pattern

Numbers in percentages

4 Recently

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	65.90%	65.90%	65.90%	65.90%	65.90%	65.90%	66.06%	55.11%	54.34%	54.34%	54.34%	54.34%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	3.15%	3.11%	5.94%	5.94%	5.94%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	34.08%	34.07%	34.08%	34.06%	34.08%	34.09%	33.93%	41.74%	42.55%	39.71%	39.70%	39.72%
No. of Shareholders	7,334	7,350	7,874	8,065	9,948	9,848	8,937	8,743	8,743	8,757	9,422	9,334

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Dec 2025
	67.47%	67.47%	67.50%	67.50%	70.75%	65.90%	65.90%	65.90%	54.34%	54.34%
	0.00%	0.00%	0.00%	0.00%	0.00%	4.87%	0.02%	0.02%	3.11%	5.94%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.00%	0.00%
	32.51%	32.51%	32.48%	32.48%	29.23%	29.21%	34.08%	34.08%	42.55%	39.72%
No. of Shareholders	5,146	5,338	5,074	4,952	5,525	7,449	7,334	9,948	8,743	9,334

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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NTC Industries Ltd

NTC Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

Documents

Announcements

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