NCL Industries Ltd

₹ 182 0.53%

09 Jul 12:49 p.m.

About

Incorporated in 1979, NCL Industries Ltd manufactures and sells Cement, RMC, CBPB, Doors, and operates 2 SHP projects^[1]

Key Points

Business Overview:^[1]^[2]
NCLIL is a part of the NCL group. Its core operations include the manufacturing of cement, cement particle boards, and Ready-Mix Concrete. The company has 2000 + Dealers / Distributors

Website BSE NSE

Market Cap ₹ 822 Cr.
Current Price ₹ 182
High / Low ₹ 239 / 148
Stock P/E 6.27
Book Value ₹ 209
Dividend Yield 1.65 %
ROCE 14.5 %
ROE 14.5 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.87 times its book value
Company has been maintaining a healthy dividend payout of 23.8%

Cons

The company has delivered a poor sales growth of -4.06% over past five years.
Tax rate seems low
Company has a low return on equity of 9.79% over last 3 years.
Promoter holding has decreased over last 3 years: -5.58%

* 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

Commodities Construction Materials Cement & Cement Products Cement & Cement Products

Part of BSE Commodities

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	435	441	391	433	419	355	330	341	375	338	345	343	400
	396	378	352	376	370	319	297	322	351	288	296	306	348
Operating Profit	39	63	39	57	49	36	34	20	24	51	49	37	51
OPM %	9%	14%	10%	13%	12%	10%	10%	6%	6%	15%	14%	11%	13%
	8	5	4	3	6	4	-7	5	6	4	-2	7	-12
Interest	6	5	7	6	5	6	5	5	5	6	5	5	5
Depreciation	13	13	13	13	16	13	15	14	14	13	13	14	15
Profit before tax	27	49	23	42	34	21	7	6	10	36	29	24	19
Tax %	60%	37%	39%	40%	28%	40%	62%	41%	38%	44%	32%	44%	-121%
	11	31	14	25	24	13	3	3	6	20	20	13	42
EPS in Rs	2.39	6.87	3.06	5.55	5.35	2.86	0.59	0.74	1.42	4.47	4.36	2.93	9.31
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	534	750	868	880	980	938	1,749	2,046	2,044	2,104	1,799	1,422
	463	628	753	746	843	797	1,465	1,838	1,895	1,895	1,686	1,232
Operating Profit	70	122	115	134	137	140	284	208	149	209	113	190
OPM %	13%	16%	13%	15%	14%	15%	16%	10%	7%	10%	6%	13%
	5	2	4	7	6	3	7	11	19	18	10	-7
Interest	37	31	32	32	37	32	22	25	27	24	24	20
Depreciation	26	25	25	35	45	42	41	45	48	56	56	55
Profit before tax	12	67	62	74	61	69	228	150	93	148	43	109
Tax %	28%	21%	11%	34%	23%	27%	35%	34%	51%	36%	41%	13%
	9	53	55	49	47	51	149	98	46	94	25	95
EPS in Rs	2.55	14.45	14.88	10.86	10.36	11.24	32.87	21.70	10.17	20.83	5.61	21.07
Dividend Payout %	0%	14%	17%	23%	24%	1%	12%	14%	30%	19%	36%	17%

Compounded Sales Growth
10 Years:	7%
5 Years:	-4%
3 Years:	-11%
TTM:	-21%

Compounded Profit Growth
10 Years:	9%
5 Years:	-2%
3 Years:	42%
TTM:	347%

Stock Price CAGR
10 Years:	3%
5 Years:	-5%
3 Years:	-4%
1 Year:	-20%

Return on Equity
10 Years:	12%
5 Years:	10%
3 Years:	10%
Last Year:	14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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	35	37	37	45	45	45	45	45	45	45	45	45
Reserves	118	160	190	416	454	483	620	699	730	810	819	901
	179	202	347	278	336	347	320	335	292	218	252	239
	258	224	210	224	260	278	314	392	441	469	532	403
Total Liabilities	590	623	784	962	1,095	1,153	1,299	1,472	1,508	1,542	1,648	1,588
	407	392	385	693	658	695	789	773	986	969	922	1,091
CWIP	2	11	152	33	90	90	61	171	28	39	148	2
Investments	0	0	0	0	0	0	30	50	35	51	50	46
	181	221	246	237	346	368	419	477	459	484	528	449
Total Assets	590	623	784	962	1,095	1,153	1,299	1,472	1,508	1,542	1,648	1,588

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	56	130	18	156	71	106	237	106	208	183	96	146
	4	-18	-161	-223	-69	-78	-136	-139	-101	-64	-111	-108
	-57	-97	133	70	4	-31	-52	-25	-83	-110	-5	-50
Net Cash Flow	3	15	-9	4	6	-4	49	-58	24	9	-20	-12
Free Cash Flow	55	112	-142	-66	2	27	101	-33	105	118	-18	38
CFO/OP	79%	107%	28%	128%	64%	89%	107%	73%	168%	103%	94%	97%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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	30	26	20	32	56	56	22	30	25	25	28	30
Inventory Days	242	256	199	240	214	327	173	186	240	217	290	177
Days Payable	191	99	126	146	184	197	121	103	144	110	177	75
Cash Conversion Cycle	82	183	93	127	87	186	75	114	122	132	141	132
Working Capital Days	-63	-58	2	-5	-4	-16	-8	17	10	11	6	13
ROCE %	14%	27%	19%	16%	12%	12%	27%	17%	11%	16%	7%	14%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Cement Installed Capacity
MTPA

x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx	x.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
xx.xx	x.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	x.xx	xx.xx
xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx	xxx,xxx
				xxx	x,xxx	xx,xxx	xx,xxx	xx,xxx	xx,xxx
				x,xxx	x,xxx	x,xxx			x,xxx

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Boards (Bison Panel) Production Volume
Thousand Metric Tonnes

Cement Production Volume
Lakh Metric Tonnes

Cement Sales/Dispatches Volume
Lakh Metric Tonnes

Hydel Power Generation
Million Units (MU)

Ready Mix Concrete (RMC) Sales Volume
Cubic Meters

Doors (Readymade Doors) Production Volume
Units

Dealers / Distributors Network
Count

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

23 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	47.27%	44.48%	44.48%	43.71%	42.31%	42.08%	42.11%	42.27%	41.02%	40.93%	40.95%	41.56%
	3.49%	4.23%	4.88%	5.17%	5.41%	5.33%	5.14%	5.24%	5.77%	4.45%	3.95%	3.87%
	0.03%	0.03%	0.03%	0.03%	0.39%	0.03%	0.03%	0.04%	0.09%	0.09%	0.16%	0.20%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	49.19%	51.25%	50.59%	51.07%	51.88%	52.53%	52.69%	52.43%	53.11%	54.53%	54.92%	54.38%
No. of Shareholders	53,823	54,349	52,981	53,743	56,142	58,855	58,121	56,558	53,412	50,910	49,403	48,817

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	49.24%	40.11%	40.33%	42.26%	44.06%	45.04%	47.13%	43.71%	42.27%	41.56%
	0.00%	2.39%	2.42%	2.28%	0.19%	3.00%	2.38%	5.17%	5.24%	3.87%
	1.60%	18.39%	17.21%	11.13%	2.49%	0.06%	0.03%	0.03%	0.04%	0.20%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	49.14%	39.09%	40.02%	44.31%	53.24%	51.89%	50.43%	51.07%	52.43%	54.38%
No. of Shareholders	40,410	35,976	34,736	34,556	43,552	60,494	58,058	53,743	56,558	48,817

* 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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NCL Industries Ltd

NCL Industries Ltd

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Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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