NCL Industries Limited

NSE: NCLIND · Unclassified

₹164.93-0.12%06 Nov 2026

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Instant answers about NCL Industries Limited — computed from its filings, no language model

Market cap₹746 cr

Current price₹164.93

High / Low₹211 / ₹148

P/E37.5

P/B0.79

Book value₹207.9

ROE2.1%

ROCE11.8%

Debt / equity0.25

Dividend yield2.12%

EPS (TTM)₹4.40

Face value₹10

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 7 periods

	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	938	1,384	1,633	1,610	1,871	1,411	1,422
EBITDA	139	282	206	148	207	109	190
Operating margin	14.9%	20.4%	12.6%	9.2%	11.0%	7.7%	13.4%
Interest	31	21	24	26	23	21	19
Depreciation	42	44	47	49	56	57	55
Profit before tax	69	225	147	91	147	43	137
Tax	18	79	52	47	53	18	14
Net profit	0	0	0	0	93	0	0
EPS ₹	11.26	32.65	20.69	9.40	20.50	5.52	21.62
Operating cash flow	—	—	72	182	183	86	145
Capex	—	—	140	103	62	118	110
Dividend paid	—	—	18	14	14	16	16
Total assets	—	—	—	1,520	1,539	1,635	1,574
Equity	—	—	—	770	849	858	940

Quarterly performance

last 26 quarters · ₹ crore

showing latest 8 of 26 periods

	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26
Revenue	247	261	348	369	405	403	415	370	445	391	365	419	435	441	431	505	495	355	330	341	383	338	345	343	400	344
Operating profit	22	64	80	72	65	68	61	36	41	33	24	53	38	63	39	57	48	36	34	19	20	51	49	36	51	40
Operating margin	9.1%	24.7%	23.1%	19.4%	16.1%	16.8%	14.8%	9.9%	9.2%	8.3%	6.5%	12.7%	8.8%	14.2%	9.1%	11.3%	9.7%	10.2%	10.2%	5.7%	5.3%	15.0%	14.2%	10.5%	12.8%	11.5%
Other income	2	0	2	1	5	1	3	2	5	3	6	3	7	5	4	3	7	4	3	5	9	4	8	8	12	4
Interest	7	7	5	4	4	6	6	6	6	6	7	7	6	5	7	6	5	6	5	5	5	5	4	5	5	6
Depreciation	10	10	10	10	14	12	11	12	12	11	12	13	13	13	14	13	16	13	15	14	15	13	13	15	15	15
Profit before tax	7	48	67	58	52	51	47	21	28	19	10	36	26	49	23	41	33	21	7	5	9	36	29	23	43	24
Tax	-0	16	24	17	23	18	16	6	11	6	8	17	16	18	9	17	10	8	4	2	3	16	9	10	-23	6
Net profit	0	32	0	0	0	33	0	15	0	0	0	20	0	31	14	25	24	13	3	3	0	0	20	0	0	0
EPS ₹	1.72	7.06	9.48	9.20	6.91	7.62	6.80	3.21	3.29	2.77	0.66	5.04	1.78	6.82	3.01	5.47	5.19	2.82	0.56	0.66	1.48	4.48	4.40	2.93	9.81	3.84
Revenue YoY	—	—	—	—	64.1%	54.5%	19.3%	0.0%	9.9%	-3.1%	-12.1%	13.4%	-2.4%	12.8%	18.1%	20.5%	13.8%	-19.4%	-23.3%	-32.4%	-22.6%	-4.6%	4.4%	0.5%	4.4%	1.5%
Profit YoY	—	—	—	—	—	4.8%	—	—	—	-100.0%	—	38.7%	—	—	—	22.6%	—	-58.6%	-81.6%	-87.9%	-100.0%	-100.0%	692.8%	-100.0%	—	—

Earlier results (standalone, Sep '07 – Dec '19)

₹ crore · from BSE, before the NSE XBRL filings begin

NCL Industries Limited reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

showing latest 8 of 11 periods

	FY09†	FY10†	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†	FY18†	FY19†
Revenue	305	234	365	503	422	408	536	663	858	910	980
Operating profit	74	68	99	135	58	28	72	123	116	133	135
Operating margin	24.2%	29.0%	27.1%	26.9%	13.7%	6.7%	13.4%	18.5%	13.5%	14.6%	13.7%
Other income	0	—	—	1	2	1	1	1	2	7	6
Interest	18	25	41	41	36	40	37	31	31	31	35
Depreciation	14	21	31	32	33	31	25	25	25	35	45
Profit before tax	43	23	29	64	-9	-38	12	67	62	74	61
Tax	14	12	5	19	3	3	3	14	7	25	14
Net profit	30	12	23	44	-12	-41	9	53	55	49	47

Quarters

showing latest 8 of 50 periods

	SEP '07†	DEC '07†	MAR '08†	JUN '08†	SEP '08†	DEC '08†	MAR '09†	JUN '09†	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†	MAR '18†	JUN '18†	SEP '18†	DEC '18†	MAR '19†	JUN '19†	SEP '19†	DEC '19†
Revenue	42	51	67	73	75	83	75	57	67	48	62	67	64	98	136	123	110	119	151	118	97	99	109	81	93	114	120	96	126	137	178	158	170	140	195	168	213	242	236	226	188	223	273	239	229	241	271	286	194	211
Operating profit	18	21	20	16	20	23	16	14	26	12	15	15	11	32	41	43	34	35	23	20	19	18	1	5	9	12	2	-4	19	23	34	40	32	23	28	25	28	35	28	38	31	28	35	27	26	26	55	65	26	26
Operating margin	41.9%	42.2%	29.8%	21.6%	26.0%	27.7%	21.3%	25.3%	38.9%	25.1%	24.4%	22.6%	17.0%	32.4%	30.2%	34.8%	31.2%	29.6%	15.1%	17.2%	19.4%	17.8%	1.3%	5.6%	10.1%	10.5%	1.4%	-4.1%	14.8%	16.8%	19.3%	25.1%	19.0%	16.3%	14.4%	14.8%	13.0%	14.5%	12.1%	17.0%	16.4%	12.8%	12.9%	11.4%	11.6%	10.7%	20.4%	22.7%	13.3%	12.4%
Other income	1	0	1	0	-0	0	0	—	0	0	0	0	0	—	0	0	0	0	0	0	1	0	1	0	0	-0	1	0	0	0	1	0	0	0	1	0	0	0	1	1	0	1	5	1	1	1	2	2	0	-1
Interest	4	5	4	5	5	5	4	5	8	8	4	10	10	11	10	10	10	10	11	9	9	9	8	8	11	10	10	8	9	9	12	8	7	9	7	7	8	8	8	8	8	9	6	9	9	9	8	8	7	8
Depreciation	3	3	3	3	3	3	3	4	5	5	6	7	8	8	9	8	8	8	8	8	8	8	8	8	7	8	8	7	7	7	3	6	6	6	7	6	6	6	6	8	8	9	10	11	11	11	11	11	11	11
Profit before tax	11	14	14	8	11	15	9	5	13	-1	6	-1	-6	13	23	25	16	17	6	3	2	0	-14	-12	-9	-6	-11	-19	2	7	22	26	19	8	14	11	13	22	15	25	15	11	24	9	7	7	38	48	8	6
Tax	0	8	5	3	3	6	2	2	2	3	5	1	1	1	2	8	5	3	4	1	1	-1	1	1	1	0	1	0	0	0	3	6	4	2	2	2	1	3	1	8	5	-3	14	2	-1	1	12	19	-1	0
Net profit	11	6	9	6	9	9	7	4	11	-4	1	-3	-7	12	21	17	11	14	2	2	1	1	-15	-12	-10	-7	-12	-19	2	7	19	20	15	6	12	9	12	19	15	16	10	14	9	6	8	7	26	29	9	5
EPS ₹	3.43	2.04	2.83	1.70	2.64	2.64	2.06	1.13	3.10	-1.11	0.31	-0.73	-2.09	3.54	5.98	4.85	3.17	4.00	0.64	0.46	0.35	0.25	-4.37	-3.52	-2.83	-1.93	-3.39	-5.51	0.55	1.97	5.53	5.71	4.12	1.68	3.16	2.49	3.28	5.13	4.00	4.43	2.63	3.57	1.87	1.37	1.70	1.44	5.83	6.41	1.93	1.20
Revenue YoY	—	—	—	—	79.5%	63.0%	11.9%	-21.7%	-10.2%	-41.6%	-17.7%	16.8%	-4.6%	104.2%	120.4%	84.3%	71.1%	21.3%	11.1%	-4.1%	-12.1%	-17.5%	-27.5%	-31.4%	-3.4%	15.5%	9.9%	18.5%	34.4%	20.1%	47.9%	64.8%	35.3%	2.5%	9.6%	6.2%	25.5%	72.3%	20.8%	35.0%	-11.7%	-7.8%	15.7%	5.9%	21.5%	8.3%	-0.8%	19.6%	-15.2%	-12.7%
Profit YoY	—	—	—	—	-19.6%	35.2%	-23.8%	-33.2%	22.2%	-145.4%	-84.2%	-168.4%	-168.6%	—	1835.2%	—	—	12.8%	-89.3%	-90.4%	-89.0%	-93.7%	-781.7%	-859.3%	-911.5%	-867.0%	—	—	—	—	—	—	685.0%	-10.6%	-39.9%	-55.1%	-20.4%	205.2%	26.6%	78.0%	-19.4%	-27.2%	-36.0%	-61.9%	-20.8%	-52.5%	180.6%	367.9%	13.6%	-16.6%

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 23 periods

	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26
ROE	—	—	—	—	—	—	—	1.9%	2.7%	2.6%	6.6%	8.0%	8.6%	11.0%	8.8%	7.5%	4.9%	2.1%	0.6%	2.6%	2.2%	2.1%	2.1%
ROCE	—	—	—	—	—	—	—	8.8%	10.2%	11.1%	13.8%	14.9%	15.3%	15.9%	13.3%	11.4%	8.0%	5.8%	7.1%	8.7%	10.3%	12.9%	11.8%
Net margin	2.6%	2.3%	2.2%	2.1%	3.0%	2.9%	0.9%	0.9%	1.2%	1.3%	3.1%	3.7%	3.8%	5.0%	4.2%	3.8%	2.8%	1.3%	0.4%	1.6%	1.4%	1.4%	1.4%
EBITDA margin	19.5%	20.4%	18.7%	16.7%	14.5%	12.6%	10.6%	8.5%	9.3%	9.2%	10.7%	11.2%	10.9%	11.0%	10.1%	10.4%	9.0%	7.7%	8.9%	9.9%	11.1%	13.1%	12.3%
Debt / equity	—	—	—	—	—	—	—	0.54	0.54	0.38	0.38	0.32	0.32	0.26	0.26	0.29	0.29	0.29	0.29	0.29	0.29	0.25	0.25
Interest coverage	8.55	11.79	12.43	11.04	8.54	7.06	5.62	4.02	4.53	4.48	5.97	6.43	6.93	7.38	5.97	5.67	4.12	3.05	3.79	5.00	5.91	7.65	7.01
Asset turnover	—	—	—	—	—	—	—	0.99	1.03	1.06	1.09	1.12	1.17	1.22	1.16	1.08	0.98	0.86	0.85	0.86	0.86	0.91	0.91

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 8 periods

	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26
Share capital	45	45	45	45	45	45	45	45
Other equity / reserves	711	725	762	804	808	813	844	895
Total equity	756	770	808	849	853	858	889	940
Borrowings	408	292	260	218	244	249	255	237
Current liabilities	429	332	365	330	342	404	383	299
Non-current liabilities	394	419	370	360	362	372	361	335
Total assets	1,579	1,520	1,542	1,539	1,557	1,635	1,633	1,574
Property, plant & equipment	896	1,006	1,006	990	964	939	942	1,109
Capital work-in-progress	140	28	22	39	70	148	220	2
Investments	0	5	5	4	4	4	0	0
Inventories	146	150	158	177	185	248	181	148
Receivables	212	155	161	143	164	136	140	118
Cash & equivalents	3	31	22	45	20	15	2	3

Cash flow

annual · ₹ crore · line = free cash flow

	FY22	FY23	FY24	FY25	FY26
Cash from operations	72	182	183	86	145
Cash from investing	-139	-96	-59	-111	-108
Cash from financing	10	-57	-110	-5	-49
Capex	140	103	62	118	110
Free cash flow	-68	79	121	-32	35
Dividends paid	18	14	14	16	16

Where the assets sit

Mar '26 · ₹ crore

Fixed assets (PPE)

₹1,109 cr70%

CWIP

₹2 cr0%

Inventories

₹148 cr9%

Receivables

₹118 cr8%

Cash & equivalents

₹3 cr0%

Other assets

₹193 cr12%

Peer comparison

largest in Unclassified · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Avantel Limited	36,86,04,549	138.69	—	1059360.68	0.0%
Ducol Organics And Colours Limited	19,55,275	120.00	—	20089.13	0.0%
Jio Platforms Limited	12,57,181	1,406.40	—	3.57	—
SBI Funds Management Limited	1,01,750	499.55	—	—	—
Tamilnadu Telecommunication Limited	91,314	9.93	—	—	—
Manipal Health Enterprises Limited	76,294	646.70	—	—	—
INDO-MIM Limited	59,042	1,219.50	—	—	—
AvenuesAI Limited	45,138	129.25	153.6	9.51	6.2%
Dhoot Transmission Limited	32,761	1,601.60	—	8.11	—
3M India Limited	31,071	27,570.00	53.8	17.57	32.7%
NCL Industries Limited	746	164.93	37.5	0.79	2.1%

StoxGud checklist: Bearish setup · 3/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month+0.6%

6 months-6.4%

1 year-17.1%

3Y CAGR-9.1%

5Y CAGR-7.0%

10Y CAGR+1.8%

50-day avg₹170.14

200-day avg₹178.10

RSI (14)50

FAQs

What is the share price of NCL Industries Limited?

NCL Industries Limited (NCLIND) closed at ₹164.93 on NSE on 06 Nov 2026.

What is the market cap of NCL Industries Limited?

₹746 crore at the latest close.

What is the P/E ratio of NCL Industries Limited?

37.5, on trailing-twelve-month earnings from its filings.

How fast is NCL Industries Limited growing?

NCL Industries Limited: revenue has compounded at -4.0% a year over three years. Latest-quarter revenue is up 1.5% year on year.

How profitable is NCL Industries Limited?

On a trailing-twelve-month basis return on equity is 2.1%, return on capital employed 11.8%, operating margin 12.3%, net margin 1.4%.

How much debt does NCL Industries Limited have?

NCL Industries Limited is lightly geared: debt to equity is 0.25 with borrowings of ₹237 cr against cash of ₹3 cr (balance sheet of 2026-03-31). Operating profit covers interest 7.0 times.

Financials parsed from NCL Industries Limited's own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '20, annual from FY20, balance sheet from Sep '22. * = derived (full year or half year minus earlier quarters). Information only, not investment advice.