National Standard (India) Ltd

National Standard (India) Ltd

₹ 320 -4.99%
24 Jul - close price
About

National Standard (India) Limited, incorporated in 1962, is presently engaged in the business of Real Estate Development.[1] The Company is a subsidiary of Lodha Developers Ltd. The ultimate holding company is Sambhavnath Infrabuild and Farms Pvt. Ltd.[2]

Key Points

Merger by Absorption[1]
In Jul’24, the board approved a merger of the company into Lodha Developers Ltd., later modified in Aug’25. The scheme received BSE approval in Dec’25 and is pending filing with the NCLT, Mumbai Bench.

  • Market Cap 640 Cr.
  • Current Price 320
  • High / Low 2,550 / 320
  • Stock P/E 57.1
  • Book Value 141
  • Dividend Yield 0.00 %
  • ROCE 4.79 %
  • ROE 3.49 %
  • Face Value 10.0

Pros

  • Company is almost debt free.

Cons

  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 3.91% over past five years.
  • Company has a low return on equity of 4.73% over last 3 years.
  • Earnings include an other income of Rs.19.7 Cr.

* 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.

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Quarterly Results

Figures in Rs. Crores

Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
0.45 0.52 14.82 5.59 0.03 3.80 15.69 2.81 0.00 17.25 3.17 0.00 -1.02
0.75 0.83 12.24 4.12 0.85 1.76 16.66 2.92 2.85 17.61 3.23 2.99 0.07
Operating Profit -0.30 -0.31 2.58 1.47 -0.82 2.04 -0.97 -0.11 -2.85 -0.36 -0.06 -2.99 -1.09
OPM % -66.67% -59.62% 17.41% 26.30% -2,733.33% 53.68% -6.18% -3.91% -2.09% -1.89%
4.13 4.14 4.00 4.25 4.61 4.37 4.15 5.01 4.34 6.19 4.37 4.64 4.48
Interest 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Depreciation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.00 0.00 0.00 0.00 0.00
Profit before tax 3.83 3.83 6.58 5.72 3.79 6.41 3.18 4.88 1.49 5.83 4.31 1.65 3.39
Tax % 26.89% 26.63% 25.23% 26.05% 30.34% 24.96% 32.08% 26.43% 33.56% 26.93% 24.59% 29.70% 25.07%
2.80 2.80 4.92 4.22 2.64 4.80 2.15 3.60 0.99 4.26 3.25 1.16 2.54
EPS in Rs 1.40 1.40 2.46 2.11 1.32 2.40 1.08 1.80 0.50 2.13 1.62 0.58 1.27
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
148 184 111 35 14 5 17 25 17 21 22 20 19
83 95 52 25 19 6 15 11 16 18 22 27 24
Operating Profit 65 89 59 10 -5 -1 2 15 1 3 0 -6 -4
OPM % 44% 48% 53% 29% -36% -15% 10% 58% 9% 16% 1% -31% -23%
14 21 23 12 11 9 15 19 11 17 18 20 20
Interest 13 19 11 5 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 66 91 72 17 6 8 16 34 12 20 18 13 15
Tax % 36% 33% 42% 35% 21% 21% 30% 27% 31% 26% 28% 27%
42 61 41 11 5 7 11 25 8 15 13 10 11
EPS in Rs 21.19 30.38 20.71 5.56 2.38 3.26 5.52 12.30 4.12 7.37 6.60 4.83 5.60
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: -20%
5 Years: 4%
3 Years: 6%
TTM: -13%
Compounded Profit Growth
10 Years: -17%
5 Years: 4%
3 Years: 5%
TTM: -3%
Stock Price CAGR
10 Years: %
5 Years: -25%
3 Years: -59%
1 Year: -87%
Return on Equity
10 Years: 6%
5 Years: 6%
3 Years: 5%
Last Year: 3%

Balance Sheet

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 20 20 20 20 20 20 20 20 20 20 20 20
Reserves 56 117 158 169 174 180 192 216 224 239 252 262
150 114 79 0 0 0 0 0 0 0 0 0
97 110 39 16 12 14 16 10 9 8 5 3
Total Liabilities 322 361 296 205 206 214 227 246 253 268 277 285
0 0 0 0 4 5 3 0 0 0 0 0
CWIP 0 0 0 0 0 0 0 0 0 0 0 0
Investments 0 0 0 0 0 0 0 0 0 0 0 0
322 361 296 205 202 209 224 246 253 268 277 285
Total Assets 322 361 296 205 206 214 227 246 253 268 277 285

Cash Flows

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
54 78 -12 -20 7 2 1 3 13 -1 -8 -6
-104 -20 51 106 -9 -1 -3 -2 -14 1 8 17
42 -51 -48 -86 -0 -0 0 0 0 0 0 0
Net Cash Flow -8 7 -8 1 -2 2 -2 1 -1 -0 -1 11
Free Cash Flow 54 78 -12 -20 7 2 1 3 13 -1 -8 -6
CFO/OP 98% 123% 45% -37% -251% -570% 457% 57% 1,276% 149% -2,050% 46%

Ratios

Figures in Rs. Crores

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 69 31 35 74 207 336 76 237 23 19 47 42
Inventory Days 0
Days Payable
Cash Conversion Cycle 69 31 35 74 207 336 76 237 23 19 47 42
Working Capital Days 181 259 575 1,891 4,878 12,620 4,201 2,888 5,002 4,296 4,334 4,713
ROCE % 45% 46% 32% 10% 3% 4% 6% 15% 5% 8% 7% 5%

Insights

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Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
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Share of Property Development in Total Operating Revenue
%
Building Materials Stock
INR Lakhs

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

3 Recently
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94% 73.94%
26.05% 26.05% 26.05% 26.05% 26.05% 26.05% 26.05% 26.05% 26.06% 26.05% 26.05% 26.06%
No. of Shareholders 2,6802,6252,6002,5762,5202,4782,4652,7002,8752,8772,8472,852

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