Income Statement NCL Industries Limited NSE India S.E.

Stocks

NCLIND

INE732C01016

Construction Materials

Delayed NSE India S.E. Other stock markets 06:28:24 2026-08-04 EDT			5-day change	1st Jan Change
174.62 ^INR	-4.29%		-5.72%	-13.15%

05-29	NCL Industries Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2026	CI
05-29	NCL Industries Limited Recommends Final Dividend for the Financial Year 2025-2026	CI

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Published financial data: NCL INDUSTRIES LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2021	2022	2023	2024	2025
Revenues	13.84B	16.33B	16.1B	18.71B	14.11B
Total Revenues	13.84B	16.33B	16.1B	18.71B	14.11B
Cost of Goods Sold, Total	6.25B	8.08B	9.08B	9.59B	8.63B
Gross Profit	7.59B	8.26B	7.02B	9.12B	5.47B
Selling General & Admin Expenses, Total	4.77B	6.19B	5.54B	6.98B	4.35B
Provision for Bad Debts	-	-	-	75.54M	35.55M
Depreciation & Amortization - (IS)	442M	467M	492M	561M	566M
Other Operating Expenses	-	-	-105M	-135M	-117M
Other Operating Expenses, Total	5.22B	6.66B	5.93B	7.48B	4.83B
Operating Income	2.37B	1.6B	1.09B	1.64B	643M
Interest Expense, Total	-208M	-242M	-261M	-227M	-200M
Interest And Investment Income	-	-	68.87M	23.44M	30.54M
Net Interest Expenses	-208M	-242M	-192M	-204M	-170M
Income (Loss) On Equity Invest.	-	-5.92M	-	-	-
Currency Exchange Gains (Loss)	-	-	-3K	-88K	4.87M
Other Non Operating Income (Expenses)	79.09M	111M	8.93M	-1.02M	16.37M
EBT, Excl. Unusual Items	2.25B	1.46B	908M	1.44B	494M
Gain (Loss) On Sale Of Assets	-	-	4.58M	29.74M	34.36M
Other Unusual Items	-	-	-	-	-101M
EBT, Incl. Unusual Items	2.25B	1.46B	912M	1.47B	428M
Income Tax Expense	791M	517M	469M	534M	176M
Earnings From Continuing Operations	1.45B	944M	443M	932M	252M
Net Income to Company	1.45B	944M	443M	932M	252M
Net Income - (IS)	1.45B	944M	443M	932M	252M
Net Income to Common Incl Extra Items	1.45B	944M	443M	932M	252M
Net Income to Common Excl. Extra Items	1.45B	944M	443M	932M	252M
Per Share Items
Net EPS - Basic	32.16	20.86	9.79	20.61	5.57
Basic EPS - Continuing Operations	32.16	20.86	9.79	20.61	5.57
Basic Weighted Average Shares Outstanding	45.23M	45.23M	45.23M	45.23M	45.23M
Net EPS - Diluted	32.16	20.69	9.79	20.61	5.57
Diluted EPS - Continuing Operations	32.16	20.69	9.79	20.61	5.57
Diluted Weighted Average Shares Outstanding	45.23M	45.23M	45.23M	45.23M	45.23M
Normalized Basic EPS	31.03	20.18	12.54	19.85	6.83
Normalized Diluted EPS	31.03	20.18	12.54	19.85	6.83
Dividend Per Share	4	3	3	4	3
Payout Ratio	7.77	19.18	30.64	14.56	62.83
Supplemental Items
EBITDA	2.82B	2.06B	1.58B	2.2B	1.2B
EBITA	2.37B	1.6B	1.09B	1.64B	643M
EBIT	2.37B	1.6B	1.09B	1.64B	643M
EBITDAR	2.83B	2.08B	1.6B	2.22B	1.23B
Total Revenues (As Reported)	13.92B	16.45B	16.28B	18.9B	14.32B
Effective Tax Rate - (Ratio)	35.22	35.39	51.46	36.44	41.13
Total Current Taxes	698M	418M	237M	417M	134M
Total Deferred Taxes	92.56M	98.68M	233M	118M	42.05M
Normalized Net Income	1.4B	913M	567M	898M	309M
Interest on Long-Term Debt	-	-	-	-	2.99M
Non-Cash Pension Expense	29.72M	18.2M	36.29M	-1.6M	18.4M
Supplemental Operating Expense Items
Advertising Expense	149M	138M	94.87M	182M	142M
Selling and Marketing Expenses	3.96B	5.26B	4.58B	6.01B	3.28B
General and Administrative Expenses	204M	266M	260M	195M	208M
Research And Development Expense From Footnotes	13K	242K	17K	128K	1K
Net Rental Expense, Total	15.03M	16M	17.87M	18.32M	24.42M
Imputed Operating Lease Interest Expense	7.5M	8.56M	9.57M	9.99M	12.79M
Imputed Operating Lease Depreciation	7.53M	7.44M	8.3M	8.33M	11.63M
Maintenance & Repair Expenses, Total	137M	204M	238M	308M	259M

Fiscal Period: March	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	593M	19.98M	312M	446M	149M
Total Cash And Short Term Investments	593M	19.98M	312M	446M	149M
Accounts Receivable, Total	1.04B	1.18B	1.55B	1.43B	1.36B
Other Receivables	187M	202M	184M	242M	169M
Notes Receivable	-	203M	60M	21.5M	95M
Total Receivables	1.23B	1.58B	1.8B	1.69B	1.62B
Inventory	1.05B	1.29B	1.5B	1.77B	2.48B
Prepaid Expenses	7.07M	13.04M	17.13M	13.87M	13.94M
Other Current Assets, Total	531M	1.29B	634M	510M	348M
Total Current Assets	3.41B	4.19B	4.26B	4.43B	4.61B
Gross Property Plant And Equipment	10.89B	12.27B	13.16B	13.55B	14.67B
Accumulated Depreciation	-2.09B	-2.54B	-2.82B	-3.26B	-3.76B
Net Property Plant And Equipment	8.8B	9.73B	10.34B	10.29B	10.91B
Long-term Investments	-	-	54.6M	44.12M	42.01M
Goodwill	-	-	-	100M	100M
Accounts Receivable Long-Term	567M	531M	-	-	-
Other Long-Term Assets, Total	210M	255M	546M	527M	682M
Total Assets	12.99B	14.71B	15.2B	15.39B	16.35B
Liabilities
Accounts Payable, Total	625M	661M	848M	896M	1.51B
Accrued Expenses, Total	977M	1.06B	1.21B	1.25B	1.07B
Short-term Borrowings	297M	372M	-	-	274M
Current Portion of Long-Term Debt	539M	855M	848M	721M	747M
Current Portion of Leases	-	-	-	-	12.79M
Current Income Taxes Payable	236M	197M	17.94M	98.26M	131M
Other Current Liabilities	395M	328M	393M	335M	298M
Total Current Liabilities	3.07B	3.47B	3.32B	3.3B	4.04B
Long-Term Debt	2.37B	2.81B	2.91B	2.19B	2.14B
Long-Term Leases	-	-	-	-	23.2M
Unearned Revenue Non Current	56.52M	58.52M	61.02M	62.99M	-
Pension & Other Post Retirement Benefits	8.77M	3.96M	25.29M	22.37M	19.97M
Deferred Tax Liability Non Current	819M	918M	1.15B	1.27B	1.31B
Other Non Current Liabilities	24.07M	30.91M	41.77M	54.73M	225M
Total Liabilities	6.34B	7.3B	7.5B	6.9B	7.77B
Common Stock, Total	452M	452M	452M	452M	452M
Additional Paid In Capital	2.12B	2.12B	2.12B	2.12B	2.12B
Retained Earnings	4.05B	4.81B	5.1B	5.89B	5.99B
Comprehensive Income and Other	24.39M	24.39M	24.09M	24.09M	18.04M
Total Common Equity	6.65B	7.41B	7.7B	8.49B	8.58B
Total Equity	6.65B	7.41B	7.7B	8.49B	8.58B
Total Liabilities And Equity	12.99B	14.71B	15.2B	15.39B	16.35B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	45.23M	45.23M	45.23M	45.23M	45.23M
ECS Total Common Shares Outstanding	45.23M	45.23M	45.23M	45.23M	45.23M
Book Value / Share	146.95	163.78	170.2	187.72	189.74
Tangible Book Value	6.65B	7.41B	7.7B	8.39B	8.48B
Tangible Book Value Per Share	146.95	163.78	170.2	185.5	187.52
Total Debt	3.2B	4.04B	3.76B	2.92B	3.2B
Net Debt	2.61B	4.02B	3.44B	2.47B	3.05B
Debt Equivalent of Unfunded Proj. Benefit Obligation	39.02M	43.62M	59.76M	-69.68M	67.51M
Debt Equivalent Oper. Leases	120M	128M	143M	147M	195M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	274M	416M	509M	613M	1.27B
Inventories - Work In Process, Total	77.58M	26.9M	44.56M	131M	88.76M
Inventories - Finished Goods, Total	293M	343M	327M	351M	393M
Inventories - Others	406M	502M	616M	674M	730M
Land - (BS)	783M	808M	858M	904M	938M
Buildings, Total	1.66B	1.72B	2.21B	2.3B	2.29B
Machinery, Total	7.79B	7.98B	9.75B	9.9B	9.87B
Full Time Employees	922	955	966	1.03K	999
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	51.1M	141M	106M

Fiscal Period: March	2021	2022	2023	2024	2025
Net Income	1.45B	944M	443M	932M	252M
Depreciation & Amortization - CF	442M	467M	492M	561M	566M
Depreciation & Amortization, Total	442M	467M	492M	561M	566M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-	-	-	-	-
Other Operating Activities, Total	314M	301M	284M	422M	268M
Change In Accounts Receivable	-162M	-101M	154M	-9.78M	68.1M
Change In Inventories	45.56M	-237M	-208M	-274M	-711M
Change In Accounts Payable	73.4M	-21.68M	184M	31.12M	618M
Change in Other Net Operating Assets	237M	-635M	733M	166M	-200M
Cash from Operations	2.41B	716M	2.08B	1.83B	862M
Capital Expenditure	-1.45B	-1.4B	-1.03B	-619M	-1.18B
Sale of Property, Plant, and Equipment	94.44M	7.68M	73.06M	23.14M	32.79M
Other Investing Activities, Total	-	-	-	5.31M	34.22M
Cash from Investing	-1.36B	-1.39B	-958M	-591M	-1.11B
Short Term Debt Issued, Total	-	75.42M	-	-	274M
Long-Term Debt Issued, Total	712M	447M	-	206M	665M
Total Debt Issued	712M	522M	-	206M	939M
Short Term Debt Repaid, Total	-919M	-	-379M	-	-493M
Long-Term Debt Repaid, Total	-	-	-51.2M	-949M	-146M
Total Debt Repaid	-919M	-	-430M	-949M	-639M
Issuance of Common Stock	-	-	-	-	-
Common Dividends Paid	-113M	-181M	-136M	-136M	-158M
Common & Preferred Stock Dividends Paid	-113M	-181M	-136M	-136M	-158M
Other Financing Activities, Total	-204M	-240M	-262M	-224M	-190M
Cash from Financing	-524M	101M	-828M	-1.1B	-48M
Miscellaneous Cash Flow Adjustments	-	-	-	-	-1K
Net Change in Cash	522M	-576M	295M	134M	-298M
Supplemental Items
Cash Interest Paid	204M	240M	262M	224M	190M
Cash Income Tax Paid (Refund)	669M	453M	422M	334M	101M
Levered Free Cash Flow	1.35B	-1.45B	756M	901M	-368M
Unlevered Free Cash Flow	1.48B	-1.3B	919M	1.04B	-243M
Change In Net Working Capital	-1.01B	1.37B	-776M	-75.56M	32.92M
Net Debt Issued / Repaid	-206M	522M	-430M	-743M	300M

Fiscal Period: March	2021	2022	2023	2024	2025
Profitability
Return on Assets	12.1	7.21	4.56	6.74	2.53
Return on Total Capital	15.96	9.37	5.95	8.98	3.46
Return On Equity %	24.38	13.43	5.86	11.52	2.95
Return on Common Equity	24.38	13.43	5.86	11.52	2.95
Margin Analysis
Gross Profit Margin %	54.85	50.54	43.59	48.75	38.8
SG&A Margin	34.5	37.9	34.4	37.29	30.81
EBITDA Margin %	20.36	12.64	9.83	11.77	8.52
EBITA Margin %	17.16	9.78	6.78	8.77	4.56
EBIT Margin %	17.16	9.78	6.78	8.77	4.56
Income From Continuing Operations Margin %	10.51	5.78	2.75	4.98	1.79
Net Income Margin %	10.51	5.78	2.75	4.98	1.79
Net Avail. For Common Margin %	10.51	5.78	2.75	4.98	1.79
Normalized Net Income Margin	10.14	5.59	3.52	4.8	2.19
Levered Free Cash Flow Margin	9.74	-8.9	4.69	4.81	-2.61
Unlevered Free Cash Flow Margin	10.68	-7.97	5.71	5.57	-1.72
Asset Turnover
Asset Turnover	1.13	1.18	1.08	1.23	0.89
Fixed Assets Turnover	1.66	1.76	1.6	1.81	1.33
Receivables Turnover (Average Receivables)	11.19	14.73	9.87	13.17	10.14
Inventory Turnover (Average Inventory)	5.82	6.91	6.52	5.87	4.06
Short Term Liquidity
Current Ratio	1.11	1.21	1.28	1.34	1.14
Quick Ratio	0.59	0.4	0.62	0.64	0.41
Operating Cash Flow to Current Liabilities	0.78	0.21	0.63	0.55	0.21
Days Sales Outstanding (Average Receivables)	32.63	24.78	37	27.79	36.01
Days Outstanding Inventory (Average Inventory)	62.75	52.86	55.97	62.32	89.85
Average Days Payable Outstanding	36.75	28.22	29.66	32.37	47.08
Cash Conversion Cycle (Average Days)	58.64	49.41	63.3	57.74	78.78
Long Term Solvency
Total Debt/Equity	48.17	54.53	48.78	34.34	37.3
Total Debt / Total Capital	32.51	35.29	32.79	25.56	27.17
LT Debt/Equity	35.59	37.96	37.76	25.85	25.25
Long-Term Debt / Total Capital	24.02	24.57	25.38	19.24	18.39
Total Liabilities / Total Assets	48.83	49.62	49.35	44.83	47.5
EBIT / Interest Expense	11.41	6.6	4.18	7.22	3.21
EBITDA / Interest Expense	13.54	8.53	6.06	9.69	6.04
(EBITDA - Capex) / Interest Expense	6.55	2.74	2.11	6.97	0.15
Total Debt / EBITDA	1.14	1.96	2.37	1.32	2.65
Net Debt / EBITDA	0.93	1.95	2.18	1.12	2.52
Total Debt / (EBITDA - Capex)	2.35	6.09	6.81	1.84	104.04
Net Debt / (EBITDA - Capex)	1.91	6.06	6.24	1.56	99.2
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	47.54	18.05	-1.45	16.26	-14.15
Gross Profit, 1 Yr. Growth %	62.22	8.76	-15.01	30.02	-20
EBITDA, 1 Yr. Growth %	102.06	-26.73	-25.92	39.17	-45.43
EBITA, 1 Yr. Growth %	144.08	-32.74	-34.66	50.5	-60.85
EBIT, 1 Yr. Growth %	144.08	-32.74	-34.66	50.5	-60.85
Earnings From Cont. Operations, 1 Yr. Growth %	186.08	-35.13	-53.06	110.49	-72.97
Net Income, 1 Yr. Growth %	186.08	-35.13	-53.06	110.49	-72.97
Normalized Net Income, 1 Yr. Growth %	224.58	-34.96	-37.13	58.29	-65.6
Diluted EPS Before Extra, 1 Yr. Growth %	186.08	-35.66	-53.06	110.49	-72.97
Accounts Receivable, 1 Yr. Growth %	-27.45	13.21	-8.99	0.69	-4.78
Inventory, 1 Yr. Growth %	-4.15	22.58	16.1	18.31	40.18
Net Property, Plant and Equip., 1 Yr. Growth %	12.09	10.52	6.31	-0.53	6.05
Total Assets, 1 Yr. Growth %	12.64	13.21	3.37	2.17	6.23
Tangible Book Value, 1 Yr. Growth %	25.79	11.45	3.92	8.99	1.09
Common Equity, 1 Yr. Growth %	25.79	11.45	3.92	10.29	1.08
Cash From Operations, 1 Yr. Growth %	127.33	-69.9	178.54	-11.27	-52.86
Capital Expenditures, 1 Yr. Growth %	84	-3.71	-26.38	-39.93	90.24
Levered Free Cash Flow, 1 Yr. Growth %	28.15K	-205.82	-143.5	20.33	-141.59
Unlevered Free Cash Flow, 1 Yr. Growth %	652.15	-186.61	-157.93	14.39	-123.64
Dividend Per Share, 1 Yr. Growth %	60	-25	0	33.33	-25
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	18.83	31.97	7.86	7.04	-6.38
Gross Profit, 2 Yr. CAGR %	33.72	32.83	-3.85	5.12	-11.67
EBITDA, 2 Yr. CAGR %	43.03	21.68	-25.04	1.54	-12.85
EBITA, 2 Yr. CAGR %	60.31	28.13	-32.22	-0.83	-23.24
EBIT, 2 Yr. CAGR %	60.31	28.13	-32.22	-0.83	-23.24
Earnings From Cont. Operations, 2 Yr. CAGR %	76.17	36.23	-44.82	-0.6	-24.57
Net Income, 2 Yr. CAGR %	76.17	36.23	-44.82	-0.6	-24.57
Normalized Net Income, 2 Yr. CAGR %	93.25	45.29	-36.42	-0.24	-26.21
Diluted EPS Before Extra, 2 Yr. CAGR %	76.17	35.67	-44.82	-0.6	-24.57
Accounts Receivable, 2 Yr. CAGR %	-16.87	-9.37	22.26	-8.64	-2.08
Inventory, 2 Yr. CAGR %	11.46	8.39	19.3	17.2	28.78
Net Property, Plant and Equip., 2 Yr. CAGR %	8.42	11.3	8.4	2.84	2.71
Total Assets, 2 Yr. CAGR %	8.92	12.93	8.18	2.3	4.18
Tangible Book Value, 2 Yr. CAGR %	15.38	18.4	7.62	6.42	4.96
Common Equity, 2 Yr. CAGR %	15.38	18.4	7.62	7.06	5.58
Cash From Operations, 2 Yr. CAGR %	84.27	-17.73	-6.47	56.41	-35.33
Capital Expenditures, 2 Yr. CAGR %	45.29	33.1	-15.8	-33.5	6.9
Levered Free Cash Flow, 2 Yr. CAGR %	31.43	1.65K	-25.84	-27.98	-29.86
Unlevered Free Cash Flow, 2 Yr. CAGR %	62.05	157.51	-21.84	-18.9	-48.36
Dividend Per Share, 2 Yr. CAGR %	26.49	9.54	-13.4	15.47	0
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	16.27	18.57	19.73	10.59	-4.77
Gross Profit, 3 Yr. CAGR %	23.51	24.82	14.46	6.32	-12.8
EBITDA, 3 Yr. CAGR %	27.77	14.45	4.32	-7.87	-17.45
EBITA, 3 Yr. CAGR %	33.28	20.01	3.9	-11.57	-27.25
EBIT, 3 Yr. CAGR %	33.28	20.01	3.9	-11.57	-27.25
Earnings From Cont. Operations, 3 Yr. CAGR %	43.61	26.27	-4.5	-13.78	-35.6
Net Income, 3 Yr. CAGR %	43.61	26.27	-4.5	-13.78	-35.6
Normalized Net Income, 3 Yr. CAGR %	45.92	34.42	9.48	-13.83	-30.05
Diluted EPS Before Extra, 3 Yr. CAGR %	36.98	25.93	-4.5	-13.78	-35.6
Accounts Receivable, 3 Yr. CAGR %	9.96	-7.85	2.74	11.08	-7.37
Inventory, 3 Yr. CAGR %	9.96	15.05	10.9	18.97	24.41
Net Property, Plant and Equip., 3 Yr. CAGR %	6.66	9.11	9.61	5.34	3.9
Total Assets, 3 Yr. CAGR %	10.52	10.33	9.65	5.81	3.59
Tangible Book Value, 3 Yr. CAGR %	12.97	14.06	13.36	8.07	4.61
Common Equity, 3 Yr. CAGR %	12.97	14.06	13.36	8.5	5.03
Cash From Operations, 3 Yr. CAGR %	15.44	0.36	25.29	-8.41	4.87
Capital Expenditures, 3 Yr. CAGR %	-13.25	26.67	9.26	-24.77	-5.6
Levered Free Cash Flow, 3 Yr. CAGR %	1.46	23.06	441.04	-13.12	-40.37
Unlevered Free Cash Flow, 3 Yr. CAGR %	10.46	32.29	67.23	-11.49	-46.48
Dividend Per Share, 3 Yr. CAGR %	16.96	6.27	6.27	0	0
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	15.93	16.37	12.83	13.81	8.51
Gross Profit, 5 Yr. CAGR %	6.73	18.45	11.74	16.53	3.19
EBITDA, 5 Yr. CAGR %	18.12	12.46	3.23	9.85	-2.92
EBITA, 5 Yr. CAGR %	19.45	12.25	1.7	12.19	-7.95
EBIT, 5 Yr. CAGR %	19.45	12.25	1.7	12.19	-7.95
Earnings From Cont. Operations, 5 Yr. CAGR %	22.34	11.53	-2.05	14.75	-13.1
Net Income, 5 Yr. CAGR %	22.34	11.53	-2.05	14.75	-13.1
Normalized Net Income, 5 Yr. CAGR %	26.84	18.84	4.67	19.03	-6.5
Diluted EPS Before Extra, 5 Yr. CAGR %	17.35	6.81	-4.78	14.75	-13.1
Accounts Receivable, 5 Yr. CAGR %	14.57	20.12	14.72	-1.08	-1.08
Inventory, 5 Yr. CAGR %	7.82	12.7	13.6	15.9	17.73
Net Property, Plant and Equip., 5 Yr. CAGR %	16.96	12.6	7.35	6.56	6.8
Total Assets, 5 Yr. CAGR %	15.84	13.41	9.58	7.05	7.23
Tangible Book Value, 5 Yr. CAGR %	27.56	26.73	10.8	10.94	9.93
Common Equity, 5 Yr. CAGR %	27.56	26.73	10.8	11.2	10.19
Cash From Operations, 5 Yr. CAGR %	13.07	31.56	5.88	20.87	-4.02
Capital Expenditures, 5 Yr. CAGR %	51.01	-2.7	-14.28	-2.11	8.31
Levered Free Cash Flow, 5 Yr. CAGR %	152.25	0.52	-10.15	2.92	138.52
Unlevered Free Cash Flow, 5 Yr. CAGR %	52.68	1.28	-3.47	13.14	4.36
Dividend Per Share, 5 Yr. CAGR %	14.87	3.71	3.71	9.86	3.71