Nuvoco Vistas Corporation Ltd
Nuvoco Vista Corporation Ltd (NVCL), is one of the largest cement companies and concrete manufacturers in India with a consolidated capacity of 25 MMTPA. It offers a diversified range of products such as cement, Ready-mix Concrete (RMX), and modern building materials i.e. adhesives, wall putty, dry plaster, cover blocks, and more.[1]
- Market Cap ₹ 14,254 Cr.
 - Current Price ₹ 399
 - High / Low ₹ 478 / 287
 - Stock P/E 52.1
 - Book Value ₹ 257
 - Dividend Yield 0.00 %
 - ROCE 3.93 %
 - ROE 0.24 %
 - Face Value ₹ 10.0
 
Pros
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
 - Company has low interest coverage ratio.
 - The company has delivered a poor sales growth of 8.80% over past five years.
 - Company has a low return on equity of 2.18% over last 3 years.
 
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 5,157 | 6,094 | 7,052 | 6,793 | 7,489 | 9,318 | 10,586 | 10,733 | 10,357 | 10,782 | |
| 4,429 | 5,105 | 6,134 | 5,493 | 6,028 | 7,814 | 9,375 | 9,109 | 8,984 | 9,086 | |
| Operating Profit | 728 | 989 | 918 | 1,301 | 1,460 | 1,504 | 1,211 | 1,624 | 1,373 | 1,695 | 
| OPM % | 14% | 16% | 13% | 19% | 20% | 16% | 11% | 15% | 13% | 16% | 
| 11 | 54 | 54 | 33 | 34 | 35 | -393 | 33 | 19 | 23 | |
| Interest | 231 | 425 | 457 | 419 | 664 | 570 | 512 | 533 | 496 | 457 | 
| Depreciation | 313 | 392 | 498 | 528 | 794 | 918 | 951 | 919 | 869 | 870 | 
| Profit before tax | 196 | 226 | 17 | 387 | 36 | 51 | -645 | 206 | 27 | 392 | 
| Tax % | 16% | 30% | 260% | 36% | 171% | 37% | -102% | 28% | 18% | |
| 166 | 158 | -26 | 249 | -26 | 32 | 16 | 147 | 22 | 274 | |
| EPS in Rs | 3.63 | 10.54 | -1.32 | 10.28 | -0.82 | 0.90 | 0.44 | 4.13 | 0.61 | 7.66 | 
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 9% | 
| 3 Years: | 4% | 
| TTM: | 5% | 
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % | 
| 5 Years: | -38% | 
| 3 Years: | -12% | 
| TTM: | 458% | 
| Stock Price CAGR | |
|---|---|
| 10 Years: | % | 
| 5 Years: | % | 
| 3 Years: | 0% | 
| 1 Year: | 11% | 
| Return on Equity | |
|---|---|
| 10 Years: | % | 
| 5 Years: | 1% | 
| 3 Years: | 2% | 
| Last Year: | 0% | 
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 150 | 150 | 200 | 242 | 315 | 357 | 357 | 357 | 357 | 357 | 
| Reserves | 3,799 | 3,967 | 4,788 | 5,037 | 7,009 | 8,464 | 8,482 | 8,626 | 8,645 | 8,824 | 
| 4,314 | 4,369 | 4,683 | 4,513 | 7,792 | 5,575 | 4,785 | 4,404 | 4,074 | 5,804 | |
| 3,022 | 3,133 | 3,590 | 3,652 | 4,792 | 5,218 | 5,364 | 5,323 | 5,082 | 5,091 | |
| Total Liabilities | 11,285 | 11,619 | 13,262 | 13,444 | 19,907 | 19,615 | 18,988 | 18,710 | 18,158 | 20,076 | 
| 8,916 | 8,690 | 9,895 | 9,970 | 15,042 | 15,409 | 14,962 | 15,027 | 14,702 | 14,843 | |
| CWIP | 143 | 144 | 605 | 647 | 1,240 | 399 | 596 | 488 | 387 | 1,909 | 
| Investments | 412 | 844 | 456 | 0 | 384 | 186 | 0 | 1 | 1 | 1 | 
| 1,814 | 1,942 | 2,306 | 2,827 | 3,241 | 3,621 | 3,430 | 3,194 | 3,067 | 3,323 | |
| Total Assets | 11,285 | 11,619 | 13,262 | 13,444 | 19,907 | 19,615 | 18,988 | 18,710 | 18,158 | 20,076 | 
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| 922 | 951 | 860 | 1,025 | 1,717 | 1,221 | 1,711 | 1,593 | 1,329 | |
| -513 | -602 | -149 | -310 | -2,898 | -190 | -260 | -573 | -337 | |
| -503 | -387 | -647 | -559 | 1,420 | -1,420 | -1,362 | -1,114 | -913 | |
| Net Cash Flow | -94 | -38 | 65 | 156 | 239 | -390 | 89 | -95 | 79 | 
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 31 | 25 | 26 | 27 | 22 | 22 | 21 | 20 | 23 | 
| Inventory Days | 114 | 125 | 148 | 179 | 215 | 283 | 215 | 177 | 135 | 
| Days Payable | 234 | 193 | 193 | 233 | 263 | 316 | 348 | 315 | 281 | 
| Cash Conversion Cycle | -88 | -44 | -20 | -27 | -26 | -11 | -113 | -118 | -123 | 
| Working Capital Days | -41 | -113 | -102 | -115 | -161 | -88 | -102 | -102 | -111 | 
| ROCE % | 7% | 5% | 8% | 6% | 4% | 2% | 5% | 4% | 
Documents
Announcements
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          Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
          
            57m - Investor/analyst group meeting at G-200 Summit on Nov 12, 2025, 10:00 AM IST.
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          Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
          
            1h - Details of the meeting with Investor/Analyst which will be attended by the representatives of the Company. Date and time: November 05, 2025 - 11:00 AM …
 - 
        
          Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
          
            1d - Nov 3, 2025: Board approved acquisition of Algebra Endeavour (Vadraj Energy) from JSW Cement and Alpha Alternatives.
 - 
        
          Board Meeting Outcome for Intimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015
          
            1d - Nov 3, 2025: Board approved SPA to acquire Algebra Endeavour (Vadraj Energy, Kutch & Surat) from JSW Cement, Alpha Alternatives.
 - 
        
          Intimation Under Regulation 30 Of SEBI(LODR) Regulations, 2015
          
            24 Oct - PCIT order (23 Oct 2025) drops u/s 263 proceedings; Rs.352.55 crore tax exposure removed; no tax outflow.
 
Annual reports
Concalls
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      Oct 2025Transcript PPT
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      Jul 2025Transcript PPT
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      May 2025Transcript PPT REC
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      Oct 2024Transcript PPT
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      Nov 2023Transcript PPT
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      May 2023Transcript PPT
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      Feb 2023Transcript PPT
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      Nov 2022Transcript PPT
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      Aug 2022TranscriptPPT
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      Aug 2022Transcript PPT
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      May 2022Transcript PPT
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      Feb 2022TranscriptPPT
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      Feb 2022Transcript PPT
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      Nov 2021Transcript PPT
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      Sep 2021Transcript PPT
 
Part of Nirma Group
NVCL is a part of The Nirma Group, which is a diversified conglomerate that manufactures products ranging from chemicals to detergents, soaps, healthcare products, and real estate development. The Nirma Group forayed into the cement business in 2014 through a greenfield cement plant in Nimbol. [1]