NCL Industries Ltd

₹ 197 0.40%

05 Dec - close price

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 ₹ 889 Cr.
Current Price ₹ 197
High / Low ₹ 239 / 179
Stock P/E 15.7
Book Value ₹ 197
Dividend Yield 1.53 %
ROCE 6.67 %
ROE 3.41 %
Face Value ₹ 10.0

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Pros

Stock is trading at 1.00 times its book value

Cons

Company has a low return on equity of 6.80% over last 3 years.
Promoter holding has decreased over last 3 years: -5.22%

* 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 SmallCap BSE Allcap BSE Commodities

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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
	365	419	435	441	391	505	419	355	330	341	383	338	345
	341	366	397	378	352	448	370	319	297	322	363	288	296
Operating Profit	24	53	38	63	39	57	48	36	34	19	20	51	49
OPM %	6%	13%	9%	14%	10%	11%	11%	10%	10%	6%	5%	15%	14%
	6	3	7	5	4	3	7	4	-7	5	9	4	-2
Interest	7	7	6	5	7	6	5	6	5	5	5	5	4
Depreciation	12	13	13	13	14	13	16	13	15	14	15	13	13
Profit before tax	11	37	26	49	23	41	34	21	7	5	9	36	29
Tax %	72%	45%	63%	37%	40%	40%	29%	40%	63%	44%	27%	44%	32%
	3	20	10	31	14	25	24	13	3	3	7	20	20
EPS in Rs	0.66	4.46	2.17	6.82	3.02	5.47	5.30	2.82	0.55	0.66	1.53	4.48	4.40
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	980	938	1,384	2,046	2,044	2,104	1,799	1,408
	843	797	1,101	1,839	1,896	1,896	1,687	1,268
Operating Profit	137	140	283	207	149	208	112	139
OPM %	14%	15%	20%	10%	7%	10%	6%	10%
	6	3	8	11	19	19	11	16
Interest	37	32	22	25	27	24	23	20
Depreciation	45	42	44	47	49	56	57	56
Profit before tax	61	69	225	146	91	147	43	80
Tax %	23%	27%	35%	35%	51%	36%	41%
	47	51	145	94	44	93	25	50
EPS in Rs	10.36	11.24	32.16	20.86	9.79	20.61	5.57	11.07
Dividend Payout %	24%	22%	12%	14%	31%	19%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	14%
3 Years:	-4%
TTM:	-13%

Compounded Profit Growth
10 Years:	%
5 Years:	-10%
3 Years:	-32%
TTM:	-19%

Stock Price CAGR
10 Years:	2%
5 Years:	5%
3 Years:	3%
1 Year:	-11%

Return on Equity
10 Years:	%
5 Years:	11%
3 Years:	7%
Last Year:	3%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	45	45	45	45	45	45	45	45
Reserves	454	483	619	696	725	804	813	844
	336	347	320	335	292	218	252	259
	260	278	314	394	444	472	524	485
Total Liabilities	1,095	1,153	1,299	1,471	1,506	1,539	1,635	1,633
	658	695	820	802	1,006	1,000	953	952
CWIP	90	90	61	171	28	39	148	220
Investments	0	0	0	20	5	4	4	0
	346	368	419	477	467	496	530	462
Total Assets	1,095	1,153	1,299	1,471	1,506	1,539	1,635	1,633

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	71	106	238	75	206	183	86
	-69	-78	-136	-139	-94	-59	-111
	4	-31	-52	7	-83	-110	-5
Net Cash Flow	6	-4	50	-58	29	13	-30

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	56	56	27	30	25	25	28
Inventory Days	214	327	173	186	240	217	290
Days Payable	184	197	121	103	144	110	177
Cash Conversion Cycle	87	186	80	114	121	132	141
Working Capital Days	-4	-16	-10	17	10	11	7
ROCE %		12%	26%	16%	11%	16%	7%

Shareholding Pattern

Numbers in percentages

9 Recently

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
	46.48%	47.13%	47.27%	44.48%	44.48%	43.71%	42.31%	42.08%	42.11%	42.27%	41.02%	40.93%
	2.33%	2.38%	3.49%	4.23%	4.88%	5.17%	5.41%	5.33%	5.14%	5.24%	5.77%	4.45%
	0.16%	0.03%	0.03%	0.03%	0.03%	0.03%	0.39%	0.03%	0.03%	0.04%	0.09%	0.09%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%
	51.01%	50.43%	49.19%	51.25%	50.59%	51.07%	51.88%	52.53%	52.69%	52.43%	53.11%	54.53%
No. of Shareholders	59,641	58,058	53,823	54,349	52,981	53,743	56,142	58,855	58,121	56,558	53,412	50,910

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
	49.24%	40.11%	40.33%	42.26%	44.06%	45.04%	47.13%	43.71%	42.27%	40.93%
	0.00%	2.39%	2.42%	2.28%	0.19%	3.00%	2.38%	5.17%	5.24%	4.45%
	1.60%	18.39%	17.21%	11.13%	2.49%	0.06%	0.03%	0.03%	0.04%	0.09%
	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%	54.53%
No. of Shareholders	40,410	35,976	34,736	34,556	43,552	60,494	58,058	53,743	56,558	50,910

* 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

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Shareholding Pattern

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