NCL Industries LimitedNCLINDCorporate

Cement - South India Latest results: Mar 2026 14 quarters of data

₹164.93

MCap ₹746 Cr · P/E 7.8

NCL Industries Limited — Stock analysis & AI research NCL Industries Limited — Multibagger AI analysis NCL Industries Limited — Seasonality — best & worst months NCL Industries Limited — Technical setup — score, trend, support & resistance NCL Industries Limited — Live exchange announcements

📋 Stocks Below Book Value 📋 Promoters Increasing Stake 🏭 Infrastructure sector

AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.

₹400 Cr

Sales · Mar 2026

+4.5% YoY

₹51 Cr

Operating Profit · Mar 2026

+112.5% YoY

12.8%

OPM % · Mar 2026

+103.2% YoY

₹42 Cr

Net Profit · Mar 2026

+500.0% YoY

₹9.28

EPS · Mar 2026

+506.5% YoY

📝 NCL Industries Limited — results explained

Quarter ended March 2026 (Q4 FY26)

NCL Industries Limited reported revenue of ₹400 crore for the quarter ended March 2026 (Q4 FY26), up 4.5% from ₹383 crore in the same quarter last year, and up 16.6% sequentially over the December 2025 quarter.

Net profit rose 500.0% year-on-year to ₹42 crore, from ₹7 crore. Earnings per share (EPS) came in at ₹9.28.

Operating profit stood at ₹51 crore — an operating margin (OPM) of 12.8%, compared with 6.3% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, NCL Industries Limited posted revenue of ₹1,426 crore, a growth of 1.2% over FY25, with a net profit of ₹95 crore (up 276.7% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹1,426 crore with a net profit of ₹95 crore.

Valuation snapshot

At the current price of ₹164.93, NCLIND has a market capitalisation of ₹746 crore and a trailing P/E of about 7.8.

Within the Cement - South India industry, it is the 4th-largest of the 8 companies we track by market value.

Shareholding pattern

As of Sep 2026, promoters held 42.49%, foreign institutional investors (FIIs) 3.42%, domestic institutional investors (DIIs) 0.03%, the government 0.02%, public shareholders 54.05% of NCL Industries Limited.

Promoter holding rose from 41.56% to 42.49% over the latest period.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close

Valuation

Market Cap ?

₹746 Cr

Current Price ?

₹164.9

P/E ?

7.84below ind

Industry P/E ?

11.70

P/B ?

0.79

P/S ?

0.52

P/FCF ?

20.16

Enterprise Value ?

₹985 Cr

EV/EBITDA ?

5.26

PEG ?

0.18

Earnings Yield ?

13.3%

Dividend Yield ?

1.84%

Profitability & Returns

Sales (TTM) ?

₹1,426 Cr

OPM ?

13.1%

Profit after tax (TTM) ?

₹95 Cr

EPS (TTM) ?

₹21.03

ROCE ?

14.0%

ROE ?

10.1%

ROA ?

6.0%

Growth

Sales — latest qtr ?

₹400 Cr

PAT — latest qtr ?

₹42 Cr

YoY qtr sales growth ?

4.5%

YoY qtr profit growth ?

500.0%

Sales growth (3y) ?

-11%

Sales growth (5y) ?

-4%

Profit growth (3y) ?

44%

Profit growth (5y) ?

-2%

Financial Health

Debt ?

₹239 Cr

Debt to Equity ?

0.25

Interest Coverage ?

6.6

Current Ratio ?

N/A

Ownership

Promoter holding ?

42.49%

Change in promoter holding ?

1.47%

Pledged percentage ?

N/A

Market

Return 3 months ?

-10.6%

Return 6 months ?

-8.0%

🗓️ Quarterly results (14 quarters · ₹ Cr)

same fiscal quarter as Mar bestweakest per row · for costs (interest, NPAs) low is best Highlight

Metric	Dec 2022	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	YoY %	QoQ %
Sales	419	435	441	431	505	495	355	330	341	383	338	345	343	400	+4.5%	+16.6%
Operating Profit	53	39	63	39	57	48	36	34	19	24	51	49	36	51	+112.5%	+41.1%
Other Income	3	7	5	4	3	7	4	3	5	6	4	8	8	-12	-300.0%	-257.0%
Interest	7	6	5	7	6	5	6	5	5	5	5	4	5	5	-7.9%	-4.7%
Depreciation	13	13	13	14	13	16	13	15	14	14	13	13	15	15	+7.1%	-1.3%
Profit Before Tax	37	27	49	23	41	33	21	7	5	9	36	29	23	19	+113.7%	-18.6%
Net Profit	20	10	31	14	25	24	13	3	3	7	20	20	13	42	+500.0%	+217.1%
EPS	5.04	1.78	6.82	3.01	5.47	5.19	2.82	0.56	0.66	1.53	4.48	4.40	2.93	9.28	+506.5%	+216.7%
OPM %	12.7%	8.9%	14.2%	9.1%	11.3%	9.7%	10.2%	10.2%	5.7%	6.3%	15.1%	14.2%	10.5%	12.8%	+103.2%	+21.9%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric	FY25	FY26	TTM	YoY %
Sales	₹1,410 Cr	₹1,426 Cr	₹1,426 Cr	+1.2%
Operating Profit	₹113 Cr	₹187 Cr	₹187 Cr	+65.8%
OPM %	8.01%	13.14%	13.14%	+64.0%
NPM %	1.79%	6.67%	6.67%	+272.6%
Other Income	₹18 Cr	₹7 Cr	₹7 Cr	-59.7%
Depreciation	₹56 Cr	₹57 Cr	₹57 Cr	+1.9%
Interest	₹22 Cr	₹20 Cr	₹20 Cr	-8.5%
EBIT	₹57 Cr	₹131 Cr	₹131 Cr	+127.6%
PBT	₹42 Cr	₹107 Cr	₹107 Cr	+154.5%
Tax	₹15 Cr	₹19 Cr	₹19 Cr	+28.2%
Net Profit	₹25 Cr	₹95 Cr	₹95 Cr	+276.7%
EPS	₹5.57	₹21.09	₹21.09	+278.6%
Material Cost	₹366 Cr	₹201 Cr	₹201 Cr	-45.0%
Employee Cost	₹56 Cr	₹37 Cr	₹37 Cr	-34.2%
Extraordinary Items	₹10 Cr	₹-10 Cr	₹-10 Cr	-197.1%

🏛️ Balance Sheet (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Equity Capital	45	45	45	45	+0.0%
Reserves	725	804	813	895	+10.1%
Borrowings	292	218	252	239	-5.2%
Other Liabilities	444	472	524	395	-24.6%
Total Liabilities	1,506	1,539	1,635	1,574	-3.7%
Fixed Assets	1,006	1,000	953	1,121	+17.6%
CWIP	28	39	148	2	-98.6%
Investments	5	4	4	0	-100.0%
Other Assets	467	496	530	451	-14.9%
Total Assets	1,506	1,539	1,635	1,574	-3.7%

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	206	183	86	145	+68.6%
Cash from Investing Activity	-94	-59	-111	-108	+2.7%
Cash from Financing Activity	-83	-110	-5	-49	-880.0%
Net Cash Flow	29	13	-30	-12	+60.0%
Free Cash Flow	110	123	-28	37	+232.1%
CFO/OP	167%	104%	86%	97%	+12.8%

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Debtor Days	25	25	28	30	+7.1%
Inventory Days	240	217	290	177	-39.0%
Days Payable	144	110	177	75	-57.6%
Cash Conversion Cycle	121	132	141	132	-6.4%
Working Capital Days	10	11	7	15	+114.3%
ROCE %	11%	16%	7%	14%	+100.0%

👥 Shareholding (latest 5 periods)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Sep 2026	% Chg
Promoters	41.02%	40.93%	40.95%	41.56%	42.49%	+2.2%
FIIs	5.77%	4.45%	3.95%	3.87%	3.42%	-11.6%
DIIs	0.09%	0.09%	0.16%	0.20%	0.03%	-85.0%
Government	0.02%	0.02%	0.02%	0.02%	0.02%	+0.0%
Public	53.11%	54.53%	54.92%	54.38%	54.05%	-0.6%
No. of Shareholders	53,412	50,910	49,403	48,817	48,577	-0.5%

⚖️ Peer comparison

Industry: Cement - South India · 8 companies · full page →

#	Company	CMP	MCap (Cr)	P/E	Sales TTM	NP TTM	OPM%	NPM%	Sales YoY%	NP YoY%	Qtr Rev Δ%	Qtr NP Δ%
1	ORIENTCEM Orient Cement	₹120.03	2,466	11.8	2,530	209	20.0%	8.3%	3.1%	270.3%	-30.3%	-62.4%
2	KCP KCP	₹160.82	2,073	12.4	2,679	242	11.1%	9.1%	1.9%	9.4%	15.2%	-37.9%
3	SAGCEM Sagar Cements	₹142.00	1,856	—	2,650	-1	11.0%	-0.0%	17.4%	99.7%	19.6%	237.0%
4	NCLIND NCL Industries	₹177.32	802	8.4	1,426	95	13.1%	6.7%	1.2%	276.7%	4.5%	500.0%
5	DECCANCE Deccan Cements	₹570.00	798	135.4	704	6	9.3%	0.8%	20.6%	279.6%	45.7%	-148.1%
6	ACL Andhra Cements	₹42.86	395	—	485	-73	2.8%	-15.0%	62.3%	56.2%	42.2%	-19.8%
7	APCL Anjani Portland	₹98.00	288	—	405	-33	5.5%	-8.1%	5.9%	67.6%	-35.7%	-184.1%
8	KAKATCEM Kakatiya Cement	₹108.95	85	—	71	-27	-33.8%	-38.2%	-11.6%	-80.8%	-29.8%	-97.8%

❓ Frequently asked questions

What was NCL Industries Limited's revenue in Q4 FY26?

What was NCL Industries Limited's net profit in Q4 FY26?