āagman

Not investment advice. Data and computed figures, for information only.

NLC India Ltd

NSE: NLCINDIA
₹251.30
−₹6.35 (−2.46%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹33,772 Cr
CMP
₹251.30
52-wk High / Low
₹388 / 230
P/E
10.5
P/B
1.6
Book Value
₹155.0
Div Yield
1.58%
ROCE
8.0%
ROE
11.9%
Face Value
₹10
D/E
1.30

Price−6.9% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
7
/ 9
7 of 9 F-score tests passed
Graham Number
₹298
√(22.5 × EPS × book value per share)
ROIC
6.3%
vs 5.8% sector median
Cash flow to profit
1.37
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+675
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
9.9%
ROE × earnings retention ratio
ROE stability
3.5
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom −2.73FII +1.01DII −1.03
Latest quarter vs the previous one
Cash-accrual divergence
−2.3%
of assets
Low = accruals track cash flow
Strengths
+FII holding rose by 4.0pp over the last year
+Piotroski F-Score of 7/9 is in the strong band (≥7)
+PE of 10.5x is below the sector median of 25.7x
Watch-outs
−Latest ROCE of 8% trails the sector median of 9%
−Borrowings are up 231.1% since FY2016 (8423 to 27892)
−Price trades below its 200-day moving average (0.9x)
−Price is 35.2% below its 52-week high
−Promoter holding fell by 9.7pp over the last year

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales3,3162,9783,1643,5413,3763,6574,4113,8363,8264,1784,4435,0424,717
Expenses2,1232,1432,2603,2082,2942,6443,3772,9752,8912,7793,0993,2683,245
Operating Profit1,1948359053331,0821,0131,0358619351,4001,3441,7741,471
OPM %36.0%28.0%28.6%9.4%32.0%27.7%23.5%22.4%24.4%33.5%30.2%35.2%31.2%
Other Income1121,535149494362713489957497359364802228
Interest231214205199189180237325299289269364382
Depreciation461455446462433413458581539548597695666
Profit before tax6141,7014021658221,1338309125949218431,518652
Net Profit4141,0862541145679826964688397257241,481436
EPS (₹)2.927.821.810.824.036.584.823.485.754.804.8010.053.49

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales6,0757,82811,09411,2899,87110,3259,93612,07016,16513,00115,32217,51918,381
Expenses4,5355,3345,9987,4017,6147,0397,3168,11910,4259,56410,57511,96212,391
Operating Profit1,5402,4945,0973,8872,2573,2862,6203,9515,7403,4384,7475,5585,990
OPM %25.3%31.9%45.9%34.4%22.9%31.8%26.4%32.7%35.5%26.4%31.0%31.7%32.6%
Other Income1,434−412−1,1767132,1251,5682,5311,544−8722,1181,7661,9171,753
Interest1504675885487001,1741,3139841,0128499321,2221,305
Depreciation4419101,0441,2321,1211,3341,5841,9091,8011,8251,8842,3792,505
Profit before tax2,3837052,2892,8212,5612,3452,2542,6032,0562,8823,6973,8753,933
Net Profit1,580682,4571,9571,5371,4531,3451,1161,4261,8682,7143,7693,367
EPS (₹)9.420.5116.0112.7110.8710.399.477.8810.0713.3718.9025.4023.14

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital1,6781,6781,5291,5291,3871,3871,3871,3871,3871,3871,3871,387—
Reserves13,19811,10410,59811,82311,38311,51812,71412,80313,78215,14417,33620,138—
Borrowings6,6018,42311,47913,21520,59827,23027,23422,08622,33322,41522,42927,892—
Other Liabilities4,2798,4889,88811,88011,91712,49312,59313,54215,60516,04316,75215,381—
Total Liabilities25,75629,69333,49338,44845,28552,62853,92749,81853,10754,98957,90464,798—
Fixed Assets6,65516,32715,99716,76517,65824,10926,44324,87524,05823,39130,69936,596—
CWIP10,9852,5425,2198,39713,85612,66211,59713,02214,63617,72615,29714,293—
Investments10313131313141478898—
Other Assets8,01410,81212,26513,27313,75915,84415,87411,91414,40513,86411,89813,900—
Total Assets25,75629,69333,49338,44845,28552,62853,92749,81853,10754,98957,90464,798—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity3,7371,0361,3011,2254,5331,6201,6474,3907,7464,1715,5128,9775,166
Cash from Investing Activity−1,393−502−1,380−4,332−4,593−6,119−5,812−2,212−763−2,499−3,059−7,160−7,549
Cash from Financing Activity−946−1,23163−68984,4164,163−2,037−7,001−1,735−1,985−2,1962,907
Net Cash Flow1,398−696−16−3,17439−83−2140−18−62468−379525

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %12.010.010.021.013.011.09.08.08.013.07.011.08.0
ROE %————————————11.9
EPS (₹)8.959.420.5116.0112.7110.8710.399.477.8810.0713.3718.9025.40
Book Value (₹)————————————155.0
Face Value (₹)————————————10
P/E————————————10.5
Div Yield %————————————1.58
NPM %25.321.00.924.816.312.812.210.88.29.312.415.919.4
OPM %32.025.032.046.034.023.032.026.033.036.026.031.032.0
D/E0.470.440.660.950.991.612.111.931.561.471.361.201.30
P/B————————————1.6

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+8.0%
5 years+12.0%
3 years+3.0%
TTM+17.0%
Compounded profit growth
10 years+56.0%
5 years+15.0%
3 years+2.0%
TTM+12.0%
Stock price CAGR
10 years+13.0%
5 years+29.0%
3 years+21.0%
Last year−10.0%
Return on equity
10 years13.0%
5 years11.0%
3 years11.0%
Last year12.0%

Shareholding pattern

As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters90.00%90.00%89.32%84.04%81.91%79.20%79.20%79.20%79.20%72.20%72.20%72.20%69.47%
FIIs0.07%0.07%0.02%0.50%0.39%0.46%0.40%1.05%0.67%2.39%2.91%3.61%4.62%
DIIs4.79%4.79%5.04%8.74%10.23%12.13%9.41%5.71%6.89%13.38%14.63%13.97%12.94%
Government3.56%3.56%3.91%3.91%4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%4.31%
Public1.59%1.59%1.71%2.81%3.17%3.91%6.68%9.74%8.94%7.73%5.96%5.91%8.66%
No. of shareholders89,71389,71384,91696,35194,14199,9691,32,3691,94,1111,82,4502,58,4983,40,0213,03,9193,33,052
Change since Jun 2023 (pp)
Promoters −20.53FIIs +4.55DIIs +8.15Public +7.07

Documents

As of 11 Oct 2026
Announcements
Announcement under Regulation 30 (LODR)-Change in ManagementCompliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Shareholder Meeting / Postal Ballot-Scrutinizer''''s ReportIntimation Under Regulation 30 Of SEBI (LODR) Regulations, 2015 (LODR)Announcement under Regulation 30 (LODR)-Newspaper Publication
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Aug 2026PPTMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTNov 2025PPTNov 2025RecordingAug 2025Transcript

Corporate actions

As of 22 Sep 2026
22 Sep 2026DIVIDENDDividend - Re 0.25 Per Share—
20 Jan 2026DIVIDENDInterim Dividend - Rs 3.60 Per Share—
19 Sep 2025DIVIDENDDividend - Rs 1.50 Per Share—
7 Feb 2025DIVIDENDInterim Dividend - Rs 1.50 Per Share—
17 Sep 2024DIVIDENDAnnual General Meetingdividend - Re 1.50 Per Share—
16 Feb 2024DIVIDENDInterim Dividend - Rs 1.50 Per Share—
18 Sep 2023DIVIDENDAnnual General Meeting/Dividend - Rs 2 Per Share—
24 Feb 2023DIVIDENDDividend - Rs 1.50 Per Share—
21 Sep 2022DIVIDENDAnnual General Meeting/Dividend - Rs 1.50 Per Share—
14 Mar 2022DIVIDENDInterim Dividend - Rs 1.50 Per Share—
21 Sep 2021DIVIDEND Annual General Meeting/Dividend - Rs 1.50 Per Share—
17 Feb 2021DIVIDEND Interim Dividend - Re 1 Per Share—
5 Mar 2020DIVIDEND Interim Dividend - Rs 7.06 Per Share—
26 Mar 2019DIVIDEND Interim Dividend - Rs 4.53 Per Share—
20 Jul 2018DIVIDEND Annual General Meeting/Dividend- Re 0.27 Per Share—
26 Mar 2018DIVIDEND Interim Dividend - Rs 4.23 Per Share (Purpose Revised)—
24 Mar 2017DIVIDEND Interim Dividend Rs 7.34 Per Share (Purpose Revised)—
7 Sep 2016DIVIDEND Annual General Meeting/Dividend-Rs 1.20 Per Share—
14 Mar 2016DIVIDEND Interest Dividend - Re 0.30/- Per Share—
11 Feb 2016DIVIDEND Interim Dividend - Rs 1.50/- Per Share—
8 Sep 2015DIVIDEND Annual General Meeting/ Dividend Re 1/- Per Share—
26 Feb 2015DIVIDENDInterim Dividend - Re 1.80/- Per Share—
11 Sep 2014DIVIDENDAnnual General Meeting / Final Dividend - Rs 1.80/- Per Share—
26 Mar 2014DIVIDENDInterim Dividend - Re 1/- Per Share (Purpose Revised)—
26 Aug 2013DIVIDENDAnnual General Meeting / Dividend - Rs 1.80/- Per Share—
11 Mar 2013DIVIDENDInterim Dividend Re 1 Per Share—
30 Aug 2012DIVIDENDAnnual General Meeting/Dividend Rs. 2.80 Per Share—
30 Aug 2011DIVIDENDAnnual General Meeting And Dividend Rs.2.30 Per Share—
18 Aug 2010DIVIDENDAnnual General Meeting And Final Dividend Re.1/- Per Share—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman