NCL Industries Ltd

₹ 185 2.78%

12 Jun - 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 ₹ 837 Cr.
Current Price ₹ 185
High / Low ₹ 239 / 148
Stock P/E 6.38
Book Value ₹ 208
Dividend Yield 1.62 %
ROCE 14.5 %
ROE 14.6 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.89 times its book value

Cons

The company has delivered a poor sales growth of 0.55% over past five years.
Tax rate seems low
Company has a low return on equity of 9.82% over last 3 years.
Company might be capitalizing the interest cost
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

Consolidated Figures in Rs. Crores / View Standalone

	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	505	419	355	330	341	375	338	345	343	400
	397	378	352	448	370	319	297	322	352	288	296	306	349
Operating Profit	38	63	39	57	48	36	34	19	24	51	49	37	51
OPM %	9%	14%	10%	11%	11%	10%	10%	6%	6%	15%	14%	11%	13%
	7	5	4	3	7	4	-7	5	6	4	-2	7	-12
Interest	6	5	7	6	5	6	5	5	5	5	4	5	5
Depreciation	13	13	14	13	16	13	15	14	14	13	13	15	15
Profit before tax	26	49	23	41	34	21	7	5	11	36	29	24	19
Tax %	63%	37%	40%	40%	29%	40%	63%	44%	36%	44%	32%	44%	-122%
	10	31	14	25	24	13	3	3	7	20	20	13	42
EPS in Rs	2.17	6.82	3.02	5.47	5.30	2.82	0.55	0.66	1.53	4.48	4.40	2.93	9.28
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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
	980	938	1,384	2,046	2,044	2,104	1,799	1,422
	843	797	1,101	1,839	1,896	1,896	1,687	1,232
Operating Profit	137	140	283	207	149	208	112	190
OPM %	14%	15%	20%	10%	7%	10%	6%	13%
	6	3	8	11	19	19	11	-7
Interest	37	32	22	25	27	24	23	19
Depreciation	45	42	44	47	49	56	57	55
Profit before tax	61	69	225	146	91	147	43	109
Tax %	23%	27%	35%	35%	51%	36%	41%	12%
	47	51	145	94	44	93	25	95
EPS in Rs	10.36	11.24	32.16	20.86	9.79	20.61	5.57	21.09
Dividend Payout %	24%	22%	12%	14%	31%	19%	0%	17%

Compounded Sales Growth
10 Years:	%
5 Years:	1%
3 Years:	-11%
TTM:	-21%

Compounded Profit Growth
10 Years:	%
5 Years:	-2%
3 Years:	44%
TTM:	350%

Stock Price CAGR
10 Years:	3%
5 Years:	-4%
3 Years:	-3%
1 Year:	-15%

Return on Equity
10 Years:	%
5 Years:	10%
3 Years:	10%
Last Year:	15%

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	335	292	218	252	239
	260	278	314	394	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	20	5	4	4	0
	346	368	419	477	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	75	206	183	86	145
	-69	-78	-136	-139	-94	-59	-111	-108
	4	-31	-52	7	-83	-110	-5	-49
Net Cash Flow	6	-4	50	-58	29	13	-30	-12
Free Cash Flow	2	27	102	-65	110	123	-28	37
CFO/OP	64%	89%	108%	58%	167%	104%	86%	97%

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	27	30	25	25	28	30
Inventory Days	214	327	173	186	240	217	290	177
Days Payable	184	197	121	103	144	110	177	75
Cash Conversion Cycle	87	186	80	114	121	132	141	132
Working Capital Days	-4	-16	-10	17	10	11	7	15
ROCE %		12%	26%	16%	11%	16%	7%	14%

Insights

In beta

Mar 2011

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Mar 2021

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Mar 2023

Mar 2024

Mar 2025

Boards Sales Volume
MT ・Standalone data

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

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Cement Sales Volume
MT ・Standalone data

Energy Generation (Hydel Power)
MU ・Standalone data

Total Employee Strength
Count ・Standalone data

Ready Mix Concrete (RMC) Volume
CuM ・Standalone data

Cement Installed Capacity
MTPA ・Standalone data

Doors Sales Volume
Units ・Standalone data

Number of Cement Dealers
Count ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

15 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

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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