NCL Industries Ltd-$
- P/E
- 5.9x
- 52-week range
- 147.5 – 214.8
- ROE
- 14%
- ROCE
- 14%
- Sector
- Cement & Cement Products
- Industry
- Cement & Cement Products
- Listed on
- NSE, BSE
About
NCL Industries Limited is engaged in the business of manufacturing and selling of cement, ready mix concrete (RMC), cement bonded particle boards (CBPB), doors, and operates two small hydropower (SHP) projects. Its Nagarjuna Cement is available in various grades of Ordinary Portland Cement (Grades 53 and 43) and Pozzolana Portland Cement. In addition, a special cement (IRS Grade 53 S) is manufactured for supply to Indian Railways for making concrete sleepers. Its NCL Door includes natura series, signature series, and soft touch series. Its energy division has two hydropower plants. The first hydro project is at the head regulator of Srisailam Right Main Canal and the second hydro project is on the Right Bank High Level Canal of Tungabhadra dam. Its cement-bonded particle boards offer Bison plank, Bison designer boards, Bison Lam, and Bison Wall Panel. The Company has manufacturing facilities in the states of Telangana, Andhra Pradesh and Himachal Pradesh.
Quick check
The five things to look at first. Open one for more.
Compared with its industry
Cement & Cement Products: 42 companies →NCL Industries Ltd-$ against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.
- Valuation (P/E)5.9 against a typical 30: cheaper than most peers (1st = cheapest).1st of 40
- Sales growth+2.7% against a typical +9.4% from a year earlier.27th of 37
- Profit growth−15% against a typical −31.3% from a year earlier.11th of 28
- Share price, 3 months−12% against a typical −13.2%.15th of 39
Latest announcements
Exchange filings and their impact on the company.
- Q2 cement dispatches jumped 22% YoY, pointing to volume-led sales growth.
NCL Industries reported strong cement volumes for the quarter and half-year ended September 2026, with Q2 cement production up 22% to 781,056 MT and dispatches up 22% to 779,428 MT. For the half-year, cement dispatches rose 15% to 1.46 million MT. Boards dispatches rose 6% in H1 despite a 3% fall in Q2, while RMC sales fell 18% in H1 and hydro power generation fell 43%. The sharp cement volume growth points to higher sales and better plant utilisation over the next year, partly offset by softness in RMC and power.
Credit ratings
Every rating action on file, newest first, including reaffirmations. Open a row for the agency's reasoning. All credit rating updates
Adequate safety, with caution
Rated A by CRISIL- The company stopped sharing information with CARE.
| Agency | Current rating | Outlook | As of |
|---|---|---|---|
| CRISIL | Crisil A | Stable | 26 Jun 2026 |
| CARE | CARE BB+; ISSUER NOT COOPERATING* | Stable | 9 Feb 2026 |
| Rating | Details | |||||
|---|---|---|---|---|---|---|
| 26 Jun 2026 | Reaffirmed | Crisil A | — | CRISIL | ₹ 661 Cr. | |
| 9 Feb 2026 | Reaffirmed | CARE BB+ | — | CARE | ₹ 65 Cr. |
Board meetings
Results dates and other board meetings. Full calendar
| Details | ||
|---|---|---|
| 7 Aug 2026 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2026 and other business matters |
| 29 May 2026 | Financial Results/Dividend/Other business matters | To consider and approve the financial results for the period ended March 31, 2026, dividend and other business matters |
| 13 Feb 2026 | Financial Results/Dividend/Other business matters | To consider and approve the financial results for the period ended December 31, 2025, dividend and other business matters |
| 14 Nov 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended September 30, 2025 and other business matters |
| 8 Aug 2025 | Financial Results/Other business matters | To consider and approve the financial results for the period ended Jun 30, 2025 and other business matters |
| 30 May 2025 | Financial Results/Dividend/Other business matters | To consider and approve the financial results for the 4th Quarter and period ended March 31, 2025, dividend and other business matters |
Financials
Consolidated figures in ₹ crore.
| ₹ Cr. | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 391 | 433 | 419 | 355 | 330 | 341 | 375 | 335 | 345 | 343 | 400 | 344 |
| Expenses | 352 | 376 | 370 | 319 | 297 | 322 | 351 | 283 | 296 | 306 | 348 | 304 |
| Operating Profit | 39 | 57 | 49 | 36 | 34 | 20 | 24 | 52 | 49 | 37 | 51 | 40 |
| OPM % | 10% | 13% | 12% | 10% | 10% | 6% | 6% | 15% | 14% | 11% | 13% | 12% |
| Other Income | 4 | 3 | 6 | 4 | −7 | 5 | 6 | 3 | −2 | 7 | −12 | 4 |
| Interest | 7 | 6 | 5 | 6 | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 6 |
| Depreciation | 13 | 13 | 16 | 13 | 15 | 14 | 14 | 13 | 13 | 14 | 15 | 15 |
| Profit before tax | 23 | 42 | 34 | 21 | 7 | 6 | 10 | 37 | 29 | 24 | 19 | 23 |
| Tax % | 39% | 40% | 28% | 40% | 62% | 41% | 38% | 45% | 32% | 44% | −121% | 26% |
| Net Profit | 14 | 25 | 24 | 13 | 3 | 3 | 6 | 20 | 20 | 13 | 42 | 17 |
| EPS in Rs | 3.06 | 5.55 | 5.35 | 2.86 | 0.59 | 0.74 | 1.42 | 4.47 | 4.36 | 2.93 | 9.31 | 3.81 |
Growth and returns
Compounded yearly rates over each period.
- 10 Years
- 7%
- 5 Years
- −4%
- 3 Years
- −11%
- TTM
- 4%
- 10 Years
- 9%
- 5 Years
- −2%
- 3 Years
- 42%
- TTM
- 191%
- 10 Years
- 4%
- 5 Years
- −7%
- 3 Years
- −9%
- TTM
- —
- 10 Years
- 12%
- 5 Years
- 10%
- 3 Years
- 10%
- TTM
- —
P/E and EPS over time
Daily P/E and trailing 12-month EPS. EPS updates with each result.
Peers
Listed companies in the same business.
| NCL Industries Ltd-$ | ₹ 163.00 | — | 5.9x | — | 14% | — |
| UltraTech Cement | ₹ 11,066.00 | ₹ 3,26,092 Cr. | 39.3x | 4.2x | 0% | 0% |
| Grasim Industries | ₹ 2,898.00 | ₹ 1,95,975 Cr. | 34.9x | 2.2x | 0% | 0% |
| Ambuja Cements | ₹ 358.00 | ₹ 88,956 Cr. | 19.6x | 1.6x | 0% | 0% |
| Shree Cement | ₹ 22,760.00 | ₹ 82,120 Cr. | 47x | 3.5x | 0% | 0% |
| Dalmia Bharat | ₹ 1,591.65 | ₹ 29,801 Cr. | 28.3x | 1.8x | 0% | 0% |
Management
- Kalidindi Ravi
- Executive Vice Chairman of the Board
- Nimmagadda Gurunadha Venkata Gnana Satya Prasad
- Chief Financial Officer, Executive Director
- T. Arun Kumar
- Vice President and Company Secretary, Compliance Officer
- Kalidindi Gautam
- Joint Managing Director, Executive Director
- Roopa Bhupatiraju
- Executive Director
- Utkal Bimalkumar Goradia
- Executive Director
Prices are delayed and for information only. Nothing on this page is investment advice.