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Prices as of 9 Oct 2026 close · Not investment advice

NCL Industries Limited

NSE: NCLINDCement & Cement Products

Share price

₹165.42

+3.04% close of 9 Oct 2026

Market cap ₹744 CrP/E 6.0

Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 8 Oct 2026, the close above is 9 Oct 2026.

Business score

How strong the business is, in one number. The parts behind it are in Pro.

64

out of 100 · worked out 9 Oct 2026

How the business score works

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹744 Cr

P/E ratio

6.0

P/B ratio

0.8

ROCE

14.6%

ROE

11.3%

Dividend yield

2.2%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 9 Oct 2026 close52-week high ₹211.1652-week low ₹148.17

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 3.5% over the past year, and 13.7% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 10.5% to 12.3% over the last four years.

Whether it grew faster than its sector

It grew 13.7% a year against a sector median of 8.5% — 5.3 percentage points faster.

Room to re-rate, or risk of de-rating

At 6.0× earnings against a market that pays 24.1× across 2199 companies we can price. Its own industry sits at 27.7×, across 5 companies. It is against its own five-year median of 13.2×, the 0th percentile of its own range.

Whether growth justifies the valuation

Priced at 0.2 times its growth rate, on earnings growth of 32%.

Profit growthPrice per ₹1 profitPer 1% growth
NCL Industries Limited — this one32%/yr6.0×₹0.19
JK Cement33%/yr38.4×₹1.2
Dalmia Bharat-1%/yr27.7×—
ACC Limited31%/yr11.2×₹0.36
The Ramco Cements-54%/yr101.5×—
JSW Cement Limited68%/yr19.1×₹0.28

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Cement & Cement Products), it ranks 5 of 34 on returns, 8 of 31 on growth, 20 of 34 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A narrow advantage: it earns 14.6% on capital, ahead of 85% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹692 crore of cash from the business, spent ₹519 crore on plant and equipment, and returned ₹237 crore to lenders and shareholders. And the profit is real: of every 100 rupees it reported over 8 years, about 186 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

8 of 10 checks clear · 80%

How the profit check works

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Announced 7 Aug 2026 · Consolidated · Unaudited

Revenue

₹344 Cr

Revenue vs last year

+1.7%

Revenue vs last quarter

-14.1%

Net profit

₹17 Cr

Profit vs last year

-13.1%

Profit vs last quarter

-58.6%

Net margin

5.1%

EPS

₹3.84

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹744 Cr
Prev close
₹165.42
52w High
₹215
52w Low
₹148
Enterprise value
₹973 Cr
Beta
0.9
Price CAGR 1y
-20.0%
Price CAGR 3y
-9.0%
Price CAGR 5y
-7.0%
Price CAGR 10y
1.0%

Ratios

Return on assets
6.0%
PEG ratio
0.2
P/E ratio
6.0
P/B ratio
0.8
EV / EBITDA
5.5
Industry P/E
27.3
ROCE
14.6%
ROCE 5y average
13.2%
ROE
11.3%
Debt / Equity
0.3
Interest coverage
6.2
Dividend yield
2.2%
ROE 3y average
9.0%
ROE last year
11.0%

Annual P&L

Annual revenue
₹1,747 Cr
Annual profit
₹95 Cr
Operating margin
11.0%
Net profit margin
5.4%
EBITDA margin
11.0%
Sales growth 3y
-5.1%
Sales growth 5y
-0.0%
Profit growth 3y
32.0%
Profit growth 5y
-7.0%
EPS
₹21.1
Sales growth TTM
4.0%
Profit growth TTM
191.0%
Dividend payout
17.0%

Quarter P&L

Sales latest quarter
₹344 Cr
Profit latest quarter
₹17 Cr
YoY quarterly sales growth
2.5%
YoY quarterly profit growth
-15.0%
OPM latest quarter
11.5%

Balance Sheet

Book Value
₹209
Face Value
₹10.0
Total debt
₹239 Cr
Total cash
₹10 Cr
Borrowings
₹239 Cr
Reserves / Equity
19.9

Cash Flow

Operating cash flow
₹145 Cr
Free cash flow
₹37 Cr
FCF yield
2.1%
Net cash flow
-₹12 Cr

Shareholding

Promoter holding
42.5%
FII holding
3.4%
DII holding
0.0%
Public holding
54.0%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
UltraTech Cem.10,550.0036.13,10,8872.272,603.715.824,648.215.812.7
Grasim Inds2,867.7034.01,95,1570.343,846.350.048,716.221.48.0
Ambuja Cements352.6018.687,6150.56660.0-29.89,500.0-7.75.6
Shree Cement21,680.0048.078,2230.69531.1-17.76,233.118.010.3
J K Cements4,985.2539.438,5200.40274.6-14.54,031.720.315.1
Dalmia BharatLtd1,606.0527.430,1240.55192.0-15.33,890.07.07.6
ACC1,152.0011.321,6330.65147.0-56.35,808.0-4.611.3
NCL Industries162.655.97362.1617.4-20.4343.72.514.6
Median157.6527.42,7520.3340.6-22.7742.79.57.0

Competes with: ACC Limited, Ambuja Cements, Dalmia Bharat, Grasim Industries Limited, JK Cement, Shree Cement, UltraTech Cement

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales441391505419355330341375335345343400344
Expenses378352448370319297322352283296306349304
Material Cost130106971057773
Change in Inventories8.34-110.40-3.00212.17
Purchases of Stock-in-Trade000000
Employee Cost191918191719
Other Expenses205174181186233211
Operating Profit63395748363419245249375140
OPM %1410111110105.656.271514111312
Other Income54374-7563-27-124
Exceptional items (within Other Income)00-9.77000
Interest5765655554556
Depreciation13141316131514141313151515
Profit before tax492341342175113729241924
Tax %3740402940634436453244-12226
Net Profit31142524133372020134217
EPS in Rs6.823.025.475.302.820.550.661.534.484.402.939.283.84
Diluted EPS in Rs1.484.484.402.939.813.84

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales9809381,7492,0462,0442,1041,7421,7471,431
Expenses8437971,4661,8391,8961,8961,6201,5561,255
Material Cost496299
Change in Inventories0.107.31
Purchases of Stock-in-Trade00
Employee Cost7671
Other Expenses730855
Operating Profit137140283207149208122192176
OPM %1415161071071112
Other Income6381119192-7-3
Exceptional items (within Other Income)-10-9.77
Interest373222252724222120
Depreciation454244474956545558
Profit before tax6169225146911474810995
Tax %2327353551364712
Net Profit4751145944493259592
EPS in Rs101132219.79215.572120
Diluted EPS in Rs5.5222
Dividend Payout %2422121431195417

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

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
1%
5 years
-7%
3 years
-9%
1 year
-20%

Return on equity

10 years
—
5 years
9%
3 years
9%
Last year
11%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital4545454545454545
Reserves454483619696725804813895
Borrowings336347320404292218252239
Other Liabilities260278314326444472524395
Minority Interest00
Total Liabilities1,0951,1531,2991,4711,5061,5391,6351,574
Fixed Assets6586958208021,0061,0009531,121
CWIP90906117128391482
Investments00005440
Other Assets346368419498467496530451
Total Assets1,0951,1531,2991,4711,5061,5391,6351,574

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity711062387220618386145
Cash from Investing Activity-69-78-136-139-94-59-111-108
Cash from Financing Activity4-31-5210-83-110-5-49
Net Cash Flow6-450-582913-30-12
Free Cash Flow227102-68110123-2937

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days5656222125252825
Inventory Days214327173186240217327215
Days Payable18419712110314411020091
Cash Conversion Cycle8718674104121132156148
Working Capital Days-4-16-8111011712
ROCE %1226161116815

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Sep 2026
Line itemDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters444442424242414141424243
FIIs4.885.175.415.335.145.245.774.453.953.873.453.42
DIIs0.030.030.390.030.030.040.090.090.160.200.030.03
Government0.020.020.020.020.020.020.020.020.020.020.010.01
Public515152535352535555545554
No. of Shareholders52,98153,74356,14258,85558,12156,55853,41250,91049,40348,81748,54048,577

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -18.0% (₹201.68 → ₹165.42)Brick size ₹5.05 (fixed)Bricks 30
₹160₹180₹200₹165Dec '25Mar '26May '26Jul '26Oct '26
Price moved up one brickPrice moved down one brickLast close ₹165.42 on 9 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

229inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-09-30

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-09-30

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-09-30

News

News and filings about NCL Industries Limited. Open one to see why it matters.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Blast Furnace Slag / GGBS (slag cement)
  • Clinker (inter-unit transfer from Simhapuri to grinding units)
  • Coal (kiln + captive thermal power)
  • Fly Ash (PPC blending)
  • Gypsum (cement set-retarder)
  • Limestone (captive mining)
  • Petcoke (kiln fuel)
  • Wood Chips (Eucalyptus, Poplar, Casuarina) for cement-bonded particle boards

Depends on the price of

  • coal
  • diesel
  • fuel

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Construction Materials
Industry
Cement & Cement Products
Classification
Construction Materials › Cement & Cement Products
ISIN
INE732C01016

Business segments

  • Cement Division · 102%
  • Boards Division · 11%
  • Ready mix concrete Division · 9%
  • Energy Division · 1%
  • Discontinued Operations - Doors Division · -0%
  • Less : Taxes & Duties · -22%

Plants

  • Kondapalli Cement Grinding Unit · Kondapalli (Krishna district), Andhra Pradesh
  • Paonta Sahib Cement Particle Boards Plant · Paonta Sahib (Sirmour district), Himachal Pradesh
  • Simhapuri Cement Bonded Particle Boards Plant · Mattampally (Suryapet district), Telangana
  • Simhapuri Integrated Cement Plant · Mattampally (Suryapet district), Telangana
  • Thallapur Cement Grinding Unit (near Anakapalle) · Anakapalle (Visakhapatnam district), Andhra Pradesh

News impact

Big market events that reach NCL Industries Limited, and how the effect spreads.

No recent market events reach this company.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

11 Sep 2026unspecified₹2
20 Feb 2026interim₹1.5
18 Sep 2025unspecified₹2
18 Feb 2025interim₹1
13 Sep 2024unspecified₹2.5
21 Feb 2024interim₹1.5
15 Sep 2023unspecified₹1.5
23 Feb 2023interim₹1.5

Splits, bonuses & buybacks

  • daily-prices repair: 8 rows from NSE's archive (replace 1, delete 0, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Insider trades

DisclosedWhoTypeSharesValue ₹ Cr
30 Sep 2026Kalidindi Ravi · Promoter and DirectorBUY24,5810.43
30 Sep 2026Kalidindi Ravi · Promoter and DirectorBUY7,0000.12
30 Sep 2026Kakatiya Industries Pvt.Ltd · Promoter GroupBUY1,7000.03
29 Sep 2026Kakatiya Industries Pvt.Ltd · Promoter GroupBUY2,7700.05
29 Sep 2026Kalidindi Ravi · Promoter and DirectorBUY230.00
25 Sep 2026Kakatiya Industries Pvt.Ltd · Promoter GroupBUY3,0000.05
25 Sep 2026Kalidindi Ravi · Promoter and DirectorBUY1,2000.02
24 Sep 2026Kalidindi Ravi · Promoter and DirectorBUY4,2300.07
24 Sep 2026Kakatiya Industries Pvt.Ltd · Promoter GroupBUY3,7000.07
24 Sep 2026Kalidindi Ravi · Promoter and DirectorBUY2,0000.04

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.