NCL Industries Ltd

₹ 174 -0.34%

15 Sep 10:00 a.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 ₹ 787 Cr.
Current Price ₹ 174
High / Low ₹ 216 / 148
Stock P/E 6.32
Book Value ₹ 208
Dividend Yield 2.01 %
ROCE 14.6 %
ROE 11.4 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.84 times its book value
Company has been maintaining a healthy dividend payout of 30.0%

Cons

The company has delivered a poor sales growth of -0.02% over past five years.
Tax rate seems low
Company has a low return on equity of 8.68% over last 3 years.
Promoter holding has decreased over last 3 years: -5.60%

* 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

Consolidated Figures in Rs. Crores / View Standalone

	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
	441	391	505	419	355	330	341	375	335	345	343	400	344
	378	352	448	370	319	297	322	352	283	296	306	349	304
Operating Profit	63	39	57	48	36	34	19	24	52	49	37	51	40
OPM %	14%	10%	11%	11%	10%	10%	6%	6%	15%	14%	11%	13%	12%
	5	4	3	7	4	-7	5	6	3	-2	7	-12	4
Interest	5	7	6	5	6	5	5	5	5	4	5	5	6
Depreciation	13	14	13	16	13	15	14	14	13	13	15	15	15
Profit before tax	49	23	41	34	21	7	5	11	37	29	24	19	24
Tax %	37%	40%	40%	29%	40%	63%	44%	36%	45%	32%	44%	-122%	26%
	31	14	25	24	13	3	3	7	20	20	13	42	17
EPS in Rs	6.82	3.02	5.47	5.30	2.82	0.55	0.66	1.53	4.48	4.40	2.93	9.28	3.84
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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	Mar 2026	TTM
	980	938	1,749	2,046	2,044	2,104	1,742	1,747	1,431
	843	797	1,466	1,839	1,896	1,896	1,620	1,556	1,255
Operating Profit	137	140	283	207	149	208	122	192	176
OPM %	14%	15%	16%	10%	7%	10%	7%	11%	12%
	6	3	8	11	19	19	2	-7	-3
Interest	37	32	22	25	27	24	22	21	20
Depreciation	45	42	44	47	49	56	54	55	58
Profit before tax	61	69	225	146	91	147	48	109	95
Tax %	23%	27%	35%	35%	51%	36%	47%	12%
	47	51	145	94	44	93	25	95	92
EPS in Rs	10.36	11.24	32.16	20.86	9.79	20.61	5.57	21.09	20.45
Dividend Payout %	24%	22%	12%	14%	31%	19%	54%	17%

Compounded Sales Growth
10 Years:	%
5 Years:	0%
3 Years:	-5%
TTM:	4%

Compounded Profit Growth
10 Years:	%
5 Years:	-7%
3 Years:	32%
TTM:	191%

Stock Price CAGR
10 Years:	4%
5 Years:	-6%
3 Years:	-8%
1 Year:	-17%

Return on Equity
10 Years:	%
5 Years:	9%
3 Years:	9%
Last Year:	11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	45	45	45	45	45	45	45	45
Reserves	454	483	619	696	725	804	813	895
	336	347	320	404	292	218	252	239
	260	278	314	326	444	472	524	395
Total Liabilities	1,095	1,153	1,299	1,471	1,506	1,539	1,635	1,574
	658	695	820	802	1,006	1,000	953	1,121
CWIP	90	90	61	171	28	39	148	2
Investments	0	0	0	0	5	4	4	0
	346	368	419	498	467	496	530	451
Total Assets	1,095	1,153	1,299	1,471	1,506	1,539	1,635	1,574

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	71	106	238	72	206	183	86	145
	-69	-78	-136	-139	-94	-59	-111	-108
	4	-31	-52	10	-83	-110	-5	-49
Net Cash Flow	6	-4	50	-58	29	13	-30	-12
Free Cash Flow	2	27	102	-68	110	123	-28	37
CFO/OP	64%	89%	108%	57%	167%	104%	79%	96%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	56	56	22	21	25	25	28	25
Inventory Days	214	327	173	186	240	217	327	215
Days Payable	184	197	121	103	144	110	200	91
Cash Conversion Cycle	87	186	74	104	121	132	156	148
Working Capital Days	-4	-16	-8	11	10	11	7	12
ROCE %		12%	26%	16%	11%	16%	8%	15%

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

54 Recently

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	44.48%	44.48%	43.71%	42.31%	42.08%	42.11%	42.27%	41.02%	40.93%	40.95%	41.56%	41.67%
	4.23%	4.88%	5.17%	5.41%	5.33%	5.14%	5.24%	5.77%	4.45%	3.95%	3.87%	3.45%
	0.03%	0.03%	0.03%	0.39%	0.03%	0.03%	0.04%	0.09%	0.09%	0.16%	0.20%	0.03%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%
	51.25%	50.59%	51.07%	51.88%	52.53%	52.69%	52.43%	53.11%	54.53%	54.92%	54.38%	54.84%
No. of Shareholders	54,349	52,981	53,743	56,142	58,855	58,121	56,558	53,412	50,910	49,403	48,817	48,540

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	49.24%	40.11%	40.33%	42.26%	44.06%	45.04%	47.13%	43.71%	42.27%	41.56%	41.67%
	0.00%	2.39%	2.42%	2.28%	0.19%	3.00%	2.38%	5.17%	5.24%	3.87%	3.45%
	1.60%	18.39%	17.21%	11.13%	2.49%	0.06%	0.03%	0.03%	0.04%	0.20%	0.03%
	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.02%	0.01%
	49.14%	39.09%	40.02%	44.31%	53.24%	51.89%	50.43%	51.07%	52.43%	54.38%	54.84%
No. of Shareholders	40,410	35,976	34,736	34,556	43,552	60,494	58,058	53,743	56,558	48,817	48,540

* 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

Insights

Shareholding Pattern

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