NACL Industries Limited (NACLIND)
₹129.27 +0.52% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, NACL Industries' revenue was ₹383 Cr (-14.5% year on year, +6.2% on the previous quarter), and net profit ₹20.8 Cr (+59.8% year on year); the operating margin was 10.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹383 | -14.5% | +6.2% |
| Operating profit | ₹41.4 | +8.6% | +212.1% |
| Net profit | ₹20.8 | +59.8% | from loss |
| EPS (₹) | 0.89 | +36.9% | from loss |
| Operating margin | 10.8% | — | — |
NACLIND delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 47.82% of the NACLIND shares traded on NSE were taken to delivery, against the stock's own 20-session average of 48.19%. That is close to its usual level. Volume was 0.3 times its average, well below normal.
Delivery in the last 5 sessions: 45.4% · 56.8% · 50.6% · 43.5% · 47.8%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
NACL Industries Limited has submitted its confirmation certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter and half-year ended September 30, 2026. The certificate, issued by registrar XL Softech Systems Limited on October 03, 2026, confirms that securities received for dematerialisation were duly processed, listed, and mutilated within 30 days. This is a recurring, statutory compliance filing with no impact on the company's operational or financial metrics.
- Compliance certificate pertains to the quarter and half-year ended September 30, 2026
- Issued by RTA XL Softech Systems Limited on October 03, 2026
- Confirms substitution of depositories as registered owners within 30 days of receipt
- Filed with BSE and NSE on October 07, 2026
NACL Industries Limited has published newspaper notices regarding a special window for the re-lodgement of transfer requests for physical shares, pursuant to SEBI circulars. The window is operational from February 05, 2026, to February 04, 2027, for share transfers lodged prior to April 01, 2019, that were previously rejected or unprocessed. The notices were released on August 21, 2026, in Business Standard and Andhra Prabha. This is a standard statutory compliance filing with no impact on the company's financial operations.
- Special window for re-lodgement of physical share transfer requests open from February 05, 2026, to February 04, 2027
- Applies to transfer requests lodged prior to the April 01, 2019 deadline that were returned, rejected, or unprocessed
- Shares processed during this window will be issued only in dematerialized form
- Published on August 21, 2026, in Business Standard (English) and Andhra Prabha (Telugu)
NACL Industries has officially executed a Share Purchase Agreement (SPA) on August 10, 2026, to sell its equity stake in its associate company, Nasense Labs Private Limited. This follows the initial board approval granted on July 22, 2026. While the transaction value and specific stake percentage were not disclosed in this filing, the divestment is a strategic move to streamline the portfolio. Given NACL's thin TTM PAT of ₹5 Cr and debt of ₹312 Cr, the cash proceeds from this sale could be material for the company's liquidity position.
- Execution of Share Purchase Agreement (SPA) on August 10, 2026, for the sale of associate company stake.
- Divestment involves the entire equity shareholding in Nasense Labs Private Limited.
- The transaction follows a prior board approval dated July 22, 2026.
- NACL is targeting a revenue of ₹1,600-1,700 Cr by FY26, making capital allocation from divestments critical.
NACL Industries Limited successfully concluded its 39th Annual General Meeting on July 22, 2026, with shareholders approving all five proposed resolutions. Key approvals included the adoption of FY26 standalone and consolidated financial statements and the re-appointment of Director Sankarasubramanian S. Notably, a special resolution to revise the remuneration of MD & CEO Dr. Raghuram Devarakonda was passed with 99.99% of the votes in favor, despite the company's thin TTM PAT of Rs 5 Cr.
- 12,69,51,835 total votes cast in favor of adopting the FY26 standalone financial statements
- 99.99488% of votes cast in favor of the special resolution to revise MD & CEO Dr. Raghuram Devarakonda's remuneration
- Only 6,501 votes were cast against the CEO's remuneration revision out of over 12.69 Cr total votes
- Remote e-voting period concluded on July 21, 2026, with 107 members participating in the primary resolution
- Ratification of Cost Auditors' remuneration for FY27 passed with 99.9997% majority
NACL Industries has submitted the newspaper clippings of its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The results were published in 'Business Standard' (English) and 'Andhra Prabha' (Telugu) on July 23, 2026. This is a procedural filing required under Regulation 47 of SEBI LODR Regulations. Investors should focus on the underlying financial performance to see if the company is meeting its FY26 revenue target of Rs 1,600-1,700 Cr.
- Reporting period: Quarter ended June 30, 2026
- Publication date: July 23, 2026
- Compliance: Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Promoter holding: Remains stable at 53.7% as per latest context
NACL Industries held its 39th Annual General Meeting on July 22, 2026, to adopt the audited financial statements for FY26. The Chairman outlined a 'Stabilize and Build' strategy to navigate industry volatility, following a period where the company faced significant losses in FY25 (Net Loss of Rs 92.13 Cr). Shareholders voted on five resolutions, including a special resolution to revise the remuneration of MD & CEO Dr. Raghuram Devarakonda. The company maintains a revenue target of Rs 1,600-1,700 Cr for FY26, supported by its new parentage under Coromandel International.
- 39th Annual General Meeting successfully convened on July 22, 2026, via video conferencing.
- Statutory Auditors' Report for the financial year ended March 31, 2026, contained zero qualifications or adverse remarks.
- Special Resolution proposed for the revision in remuneration payable to MD & CEO Dr. Raghuram Devarakonda.
- Remote e-voting was conducted between July 19, 2026, and July 21, 2026, for all 5 agenda items.
- Company is targeting a revenue range of Rs 1,600-1,700 Cr for FY26, compared to TTM revenue of Rs 1,584 Cr.
NACL Industries has approved the sale of its entire equity stake in associate company Nasense Labs Private Limited to Mr. Kanumuru Satyanarayana Raju for ₹8.15 Cr. Nasense Labs is a significant associate, contributing 10.93% (₹135.05 Cr) to NACL's consolidated turnover and 18.12% (₹77.42 Cr) to its consolidated net worth in FY25. The transaction is expected to conclude within three months. Additionally, the board approved Q1 FY27 results and monitored the utilization of funds from the December 2025 Rights Issue.
- Divestment of entire stake in Nasense Labs Private Limited for a total consideration of ₹8,15,29,967
- Nasense Labs contributed ₹135.05 Cr (10.93%) to consolidated revenue in FY25
- Associate company accounted for ₹77.42 Cr (18.12%) of consolidated net worth as of March 31, 2025
- Transaction expected to be completed within a 3-month timeline
- Sale is to a non-promoter individual and does not constitute a related party transaction
NACL Industries reported a strong turnaround in Q1 FY27, posting a consolidated net profit of ₹13.17 Cr compared to a loss of ₹20.80 Cr in the same quarter last year. Revenue from operations grew 35.6% YoY to ₹440.77 Cr. The company also announced the divestment of its entire stake in associate company Nasense Labs for ₹8.15 Cr, an entity that contributed 10.93% to NACL's FY25 revenue. Additionally, the company confirmed that ₹37 Cr from its recent rights issue has been fully utilized for debt repayment.
- Consolidated Net Profit turned positive at ₹13.17 Cr vs a loss of ₹20.80 Cr in Q1 FY26
- Revenue from operations increased 35.6% YoY to ₹440.77 Cr from ₹325.01 Cr
- Divestment of entire stake in Nasense Labs Private Limited for a consideration of ₹8.15 Cr
- Nasense Labs contributed 18.12% to the company's consolidated net worth as of March 31, 2025
- Rights issue proceeds of ₹37 Cr successfully utilized for debt repayment to improve financial flexibility
NACL Industries has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed, mutilated, and cancelled by the Registrar and Share Transfer Agent (RTA). The RTA, XL Softech Systems Limited, confirmed that the names of the depositories were substituted in the register of members as the registered owners within the mandated 30-day period. This is a standard administrative procedure for listed companies to ensure electronic share records are accurate.
- Compliance certificate issued for the quarter ended June 30, 2026
- Dematerialization requests processed and confirmed within the 30-day regulatory timeline
- Physical certificates mutilated and cancelled after due verification by depository participants
- Registrar and Share Transfer Agent (RTA) XL Softech Systems Limited issued the confirmation on July 2, 2026
Coromandel International Limited, the promoter of NACL Industries, has submitted a formal disclosure under Regulation 31(4) of the SEBI SAST Regulations. The filing confirms that the promoter and its 194 persons acting in concert (PAC) have not created any direct or indirect encumbrance on their shares during the financial year 2025-26. This routine annual declaration provides transparency regarding the status of the promoter's 53.7% stake in the company.
- Promoter Coromandel International confirms 0 shares were encumbered or pledged during FY 2025-26.
- The disclosure encompasses a comprehensive list of 194 promoter group entities and individuals.
- Promoter holding remains stable at 53.7% as per the latest available shareholding data.
- The filing was submitted to the Audit Committee and stock exchanges on April 10, 2026.
NACL Industries has responded to NSE surveillance queries regarding unusual price and volume movements in its shares between June 19 and June 30, 2026. The company reported a peak high price of ₹238.70 on June 30, with 1,45,219 trades recorded on that day. Despite the volatility, the company maintains that all material information has been disclosed in compliance with SEBI Regulation 30. The stock has seen a 74.8% price return over the last 3 months, contrasting with a thin TTM PAT of ₹5 Cr.
- Stock reached a high price of ₹238.70 on June 30, 2026, with 1,45,219 trades.
- Deliverable quantity as a percentage of traded quantity peaked at 53.91% on June 23, 2026.
- Trading volume surged significantly with 16,05,041 deliverable shares on June 30, 2026.
- Company confirms compliance with SEBI Regulation 30 regarding timely disclosure of material information.
- Recent 3-month price return stands at 74.8% despite a high TTM P/E of 920.1.
NACL Industries has issued a formal notice for its 39th Annual General Meeting (AGM) to be held on July 22, 2026, at 03:30 p.m. The meeting will be conducted virtually via Video Conferencing (VC) or Other Audio Visual Means (OAVM) in compliance with SEBI regulations. This is a routine administrative filing following the publication of notices in English and Telugu newspapers on June 30, 2026. Investors should look to this meeting for updates on the company's integration with its new majority owner, Coromandel International.
- 39th Annual General Meeting set for July 22, 2026, at 03:30 p.m.
- Notices published in Business Standard and Andhra Prabha on June 30, 2026
- Meeting to be held exclusively through VC/OAVM facility
- Company targeting revenue of Rs 1,600-1,700 Cr by FY26 as per financial context
NACL Industries has scheduled its 39th AGM for July 22, 2026, following a significant turnaround year. For FY26, revenue grew 28% to ₹1,584 Cr, and EBITDA turned positive at ₹106 Cr compared to a ₹55 Cr loss in the previous year. The company successfully deleveraged its balance sheet, reducing total debt by 24% to ₹301 Cr and improving the debt-to-equity ratio from 0.93 to 0.44. Now a part of the Murugappa Group via Coromandel International, the company is focusing on operational synergies and high-margin differentiated products.
- Revenue increased 28% YoY to ₹1,584 Cr for the financial year ending March 2026
- EBITDA turned around to ₹106 Cr from a loss of ₹55 Cr in FY25
- Total debt reduced by 24% from ₹396 Cr to ₹301 Cr, resulting in zero long-term debt
- Successfully raised ₹250 Cr through a rights issue to strengthen the capital structure
- Achieved record technical production of 14,640 MT during the year
NACL Industries Limited has announced the closure of its trading window for all designated persons starting July 1, 2026. This move is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the Q1 FY27 financial results. The window will remain closed until 48 hours after the declaration of the un-audited standalone and consolidated financial results for the quarter ended June 30, 2026. The specific date for the Board Meeting to consider these results will be communicated separately in the future.
- Trading window closure effective from Wednesday, July 01, 2026.
- Closure is related to the un-audited financial results for the quarter ended June 30, 2026.
- Restriction applies to designated employees, specified persons, and connected persons.
- Window will reopen 48 hours after the official announcement of the Q1 results.
- Board Meeting date for results approval to be intimated in due course.
NACL Industries Limited has submitted a formal response to the Stock Exchange regarding recent significant fluctuations in its share price. The Exchange's inquiry was a standard measure to ensure all price-sensitive information is available to the public and to protect investor interests. Such clarifications are common when a stock experiences high volatility without immediate news. The company's response typically confirms that all material information has already been disclosed to the market.
- Exchange sought clarification on NACLIND's significant price movement.
- Company submitted its response on June 24, 2026, as per regulatory requirements.
- The move is part of the Exchange's surveillance mechanism to safeguard investors.
- No new material information or corporate developments were announced in this specific brief.
Financial Performance
Revenue Growth by Segment
Total revenue from operations for FY25 was INR 1,251.89 Cr, representing a 30% decrease compared to the previous year. However, H1 FY26 showed a recovery with revenue of INR 905.30 Cr, an 18.3% increase over INR 765.32 Cr in H1 FY25. The business is split between Technicals (Active Ingredients) and Formulations (60+ products), with the latter primarily serving the domestic retail market.
Geographic Revenue Split
NACL has a presence in 22 countries. While specific percentage splits per country are not provided, the company maintains a sizable export business with MNCs like Syngenta Asia Pacific and Nissan Chemical Corporation, alongside a vast domestic retail network in India.
Profitability Margins
Profitability was severely impacted in FY25 with a PAT margin of -7.56% (Loss of INR 92.13 Cr) compared to -3.34% in FY24. H1 FY26 saw a turnaround to a profit of INR 15.59 Cr. EBITDA margins are projected to recover to 8.0-9.0% in FY26 as price stabilization occurs.
EBITDA Margin
EBITDA for FY25 was a loss of INR 56.98 Cr, a significant decline from a positive EBITDA of INR 16.32 Cr in FY24. This represents a margin swing from approximately +0.9% to -4.5% YoY due to limited access to working capital and sectoral headwinds.
Capital Expenditure
The company is currently investing in de-bottlenecking capacities to support near-term growth. While the specific INR Cr for FY26 is not detailed, historical net worth grew from INR 350.53 Cr in FY20 to INR 577.41 Cr in FY23, indicating consistent asset base expansion.
Credit Rating & Borrowing
Credit rating was significantly upgraded to CRISIL AA/Stable/A1+ from BB+/A4+ following the acquisition by Coromandel International Limited (CIL). Borrowing costs are expected to decrease due to CIL's AAA rating and a proposed INR 160 Cr line of credit from the parent.
Operational Drivers
Raw Materials
Active Ingredients (Technicals) and intermediates for generic molecules including insecticides, fungicides, and herbicides. Specific chemical names are not listed, but these represent the primary cost of goods sold.
Import Sources
Not specifically disclosed in the documents, though the company operates in the global generic molecule market which typically sources from China and domestic Indian suppliers.
Capacity Expansion
Current capacity utilization is approximately 70%. The company is implementing de-bottlenecking projects to increase throughput without massive greenfield spend, aiming to support a revenue target of INR 1,600-1,700 Cr in FY26.
Raw Material Costs
Raw material costs are a major component of the 30% revenue decline in FY25, as price volatility in generic molecules led to inventory write-downs and margin compression.
Manufacturing Efficiency
Capacity utilization stands at 70%. The company leverages cost-efficient manufacturing processes developed over three decades to compete with both organized and unorganized players.
Logistics & Distribution
The company operates a large retail dealer network across India to distribute its 66+ branded formulation products.
Strategic Growth
Expected Growth Rate
32%
Growth Strategy
Growth will be driven by the acquisition by Coromandel International Limited (CIL), which provides financial flexibility and a line of credit of INR 160 Cr. The company plans to reach INR 1,600-1,700 Cr in revenue by FY26 through de-bottlenecking, launching new products from its R&D pipeline, and expanding its presence in 22 international markets.
Products & Services
Insecticides, fungicides, herbicides, and plant growth regulators sold as both Technicals (B2B) and Formulations (Retail).
Brand Portfolio
NACL (66+ branded products in the portfolio).
New Products/Services
The company has over 60 products covering all major crops and continues to develop new generic molecules to replace those facing patent expirations.
Market Expansion
Targeting deeper penetration in the domestic retail market and expanding the export footprint beyond the current 22 countries.
Strategic Alliances
Acquired by Coromandel International Limited (CIL), which now holds a 53.08% stake. NACL also holds a 26% stake in Nasense Labs Pvt Ltd.
External Factors
Industry Trends
The agrochemical industry is shifting toward innovation-led growth and digital adoption. NACL is positioning itself to benefit from upcoming patent expirations in the global market.
Competitive Landscape
Intense competition from organized regional players and unorganized local manufacturers in the generic segment.
Competitive Moat
Moat is based on 30+ years of manufacturing experience, long-standing relationships with global MNCs, and a strong brand in the domestic retail market. Sustainability is enhanced by the new parentage of the Murugappa Group (via CIL).
Macro Economic Sensitivity
Highly sensitive to agricultural GDP and farm income levels, which are dictated by monsoon performance.
Consumer Behavior
Farmers are increasingly looking for integrated pest management and plant growth regulators, shifting demand away from simple insecticides.
Geopolitical Risks
Trade barriers and changes in registration policies in international markets could impact the export of technical grade active ingredients.
Regulatory & Governance
Industry Regulations
Operations are governed by the Insecticides Act, export/import policies, and product registration requirements in 22 countries. Changes in these can lead to product bans or mandatory reformulations.
Environmental Compliance
Subject to stringent environmental safety requirements and pollution norms for chemical manufacturing; specific ESG costs are not disclosed.
Taxation Policy Impact
The company is evaluating special tax benefits as of December 2025 in relation to its proposed Rights Issue.
Legal Contingencies
The company monitors potential provisions for doubtful debtors or write-offs, which impacted FY25 results, though specific litigation values are not provided.
Risk Analysis
Key Uncertainties
Seasonality and rainfall distribution (impact up to 30% of revenue), regulatory changes in product safety, and volatility in raw material prices for generic molecules.
Geographic Concentration Risk
Significant concentration in the Indian domestic market, though diversified across 22 export destinations.
Third Party Dependencies
Dependency on lenders for working capital was a major risk in FY25 (now mitigated by CIL) and dependency on MNC clients for B2B technical sales.
Technology Obsolescence Risk
Risk of generic molecules being phased out by newer, more environmentally friendly or effective patented molecules.
Credit & Counterparty Risk
Exposure to a large retail dealer network; risk of doubtful debtors if farm incomes decline due to poor harvests.
