| P&L Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | 21.06 | 98 | 41 | 62 |
| Cost of Material Consumed | 6.98 | 13 | 9 | 15.6 |
| Change in Inventory | -22.49 | 44 | 3 | 0.6 |
| Gross Margins | 173.65 | 41.84 | 70.73 | 73.87 |
| Employee Benefit Expenses | 4.02 | 4 | 4 | 6 |
| Other Expenses | 31.39 | 7 | 7 | 13 |
| EBITDA | 1.16 | 30 | 18 | 26.8 |
| OPM | 5.51 | 30.61 | 43.9 | 43.23 |
| Other Income | 3.91 | 2 | 4 | 14 |
| Finance Cost | 1.55 | 14 | 11 | 14 |
| D&A | 0.44 | 3 | 3 | 6 |
| EBIT | 0.72 | 27 | 15 | 20.8 |
| EBIT Margins | 3.42 | 27.55 | 36.59 | 33.55 |
| PBT | 3.07 | 15 | 7 | 21 |
| PBT Margins | 14.58 | 15.31 | 17.07 | 33.87 |
| Tax | 1.27 | 5 | 1 | 4 |
| PAT | 1.8 | 10 | 6 | 17 |
| NPM | 8.55 | 10.2 | 14.63 | 27.42 |
| EPS | 3.11 | 17.3 | 10.53 | 29.41 |
| Financial Ratios | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating Profit Margin | 5.51 | 30.61 | 43.9 | 43.23 |
| Net Profit Margin | 8.55 | 10.2 | 14.63 | 27.42 |
| Earning Per Share (Diluted) | 3.11 | 17.3 | 10.53 | 29.41 |
| Assets | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Fixed Assets | 11.61 | 95 | 94 | 94 |
| CWIP | 82.5 | 0 | 0 | 0 |
| Investments | 2.15 | 3 | 54 | 36 |
| Trade Receivables | 0.91 | 4 | 20 | 14 |
| Inventory | 104.71 | 56 | 52 | 54 |
| Other Assets | 27.8 | 65 | 50 | 56 |
| Total Assets | 229.68 | 223 | 270 | 274 |
| Liabilities | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share Capital | 5.78 | 5.78 | 5.7 | 5.78 |
| FV | 10 | 10 | 10 | 10 |
| Reserves | 60.32 | 63 | 68 | 84 |
| Borrowings | 96.68 | 118 | 176 | 154 |
| Trade Payables | 3.47 | 4 | 1 | 3 |
| Other Liabilities | 63.43 | 32.22 | 19.3 | 27.22 |
| Total Liabilities | 229.68 | 223 | 270 | 274 |
| Cash-Flow Statement | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| PBT | 3.07 | 15 | 7 | 21 |
| OPBWC | 1.74 | 25 | 18 | 37.5 |
| Change in Receivables | 2.11 | -3 | -16 | 6.8 |
| Change in Inventories | -22.58 | 49 | 3 | 0.6 |
| Change in Payables | 0 | 0 | 0 | 0 |
| Other Changes | 45.32 | -36 | -19 | -18.9 |
| Working Capital Change | 24.85 | 10 | -32 | -11.5 |
| Cash Generated From Operations | 26.59 | 35 | -14 | 26 |
| Tax | -0.85 | -5 | -2 | -4 |
| Cash Flow From Operations | 25.74 | 30 | -16 | 22 |
| Purchase of PPE | -24.3 | -4 | -2 | -0.03 |
| Sale of PPE | 0.07 | 2 | 0.3 | 0 |
| Cash Flow From Investment | -19.58 | 3 | -49 | 22.14 |
| Borrowing | -2.69 | 23 | 39 | -28.4 |
| Dividend | -0.58 | 0 | 0 | -0.86 |
| Equity | 0 | 0 | 0 | 0 |
| Others From Financing | -1.55 | -14 | -12 | -14.2 |
| Cash Flow from Financing | -4.82 | 9 | 27 | -43.46 |
| Net Cash Generated | 1.34 | 42 | -38 | 0.68 |
| Cash at the Start | 0.3 | 2 | 44 | 5.89 |
| Cash at the End | 1.64 | 44 | 6 | 6.57 |
NCL Holdings Limited is the flagship holding company of the NCL Group, one of South India’s most respected names in building materials, construction solutions, and related industries. As a diversified conglomerate, NCL Holdings oversees multiple subsidiaries involved in cement, ready-mix products, paints, plasters, aluminium doors and windows, uPVC profiles, and other building material solutions. The company has built a strong legacy over decades through innovation, product reliability, and a wide distribution network that caters to both urban and rural markets. NCL Holdings functions as the strategic backbone of the group, ensuring coordinated management, capital allocation, and long-term vision across its various businesses. Its diverse revenue streams, strong brand recall, and leadership in niche construction segments position the group as a key player in India’s fast-growing infrastructure and real estate ecosystem.
Under NCL Holdings, the group’s operating companies—such as NCL Buildtek, NCL Industries, and Seccolor—collectively serve a broad spectrum of customers ranging from architects, developers, and contractors to institutional buyers and government infrastructure projects. The holding structure enables streamlined management and allows the company to strategically invest in technology upgrades, new product lines, and capacity addition. For instance, the group’s presence in advanced building materials like texture coatings, putties, aluminium façades, and high-quality windows and doors has helped it stay ahead of evolving market trends. With India witnessing rapid urbanization, increased focus on sustainable buildings, and rising demand for high-performance materials, the portfolio under NCL Holdings directly benefits from these macro trends. The group has also consistently emphasized quality assurance, R&D investments, and energy-efficient solutions, reinforcing its market credibility and long-term competitive edge.
From an investment point of view, NCL Holdings Unlisted Shares are gaining attention among investors who want exposure to the building materials and infrastructure value chain through a diversified platform. As a holding company, NCL Holdings derives strength from its wide range of subsidiaries, offering reduced business-risk concentration and stable long-term growth potential. Investors often view the company’s unlisted shares as an opportunity to participate in multiple high-growth segments—cement, paints, plasters, and architectural products—through a single investment. The unlisted nature of the stock means it may offer attractive pre-IPO valuation opportunities, although liquidity is comparatively lower than listed markets. Additionally, the group’s strong financial discipline, steady revenue growth, and ability to capitalize on India’s construction boom enhance its appeal to long-term investors. Looking ahead, continued expansion of product capabilities, entry into adjacent building solutions, and rising infrastructure investments nationwide are expected to support NCL Holdings’ growth trajectory. For investors seeking a robust, multi-business exposure within the construction materials sector, NCL Holdings’ unlisted shares present a compelling and potentially rewarding opportunity.
Q:1 How do I confirm the booking of NCL Holdings Unlisted Shares?Answer: You can confirm the booking by contacting us and agreeing on a trading price for the NCL Holdings Unlisted Shares.
Q:2 What documents do I need to provide for the purchase of NCL Holdings Unlisted Shares?Answer: You need to provide your client master report (CMR), PAN Card, and a Cancelled Cheque if you are not transferring funds from the bank account mentioned in the CMR.
Q:3 Why do I need to provide KYC documents for purchasing shares?Answer: KYC documents are required as per SEBI regulations to verify your identity and ensure compliance with financial regulations.
Q:4 How will I receive the bank details for the fund transfer?
Answer: We will provide you with the necessary bank details once your booking is confirmed.
Q:5 What payment methods are accepted for purchasing NCL Holdings Unlisted Shares?Answer: Payments can be made via RTGS, NEFT, IMPS, or cheque transfer.Please note that cash deposits are not accepted.
Q:6 Can I transfer funds from a different bank account than the one mentioned in my CMR?Answer: No, the payment must be made from the same bank account that is listed in your CMR for the shares to be credited correctly.
Q:7 What happens if I do not have a client master report (CMR)?
Answer: If you do not have a CMR, you can ask your broker to provide it, as it is an essential document for the transaction.
Q:8 Is there a deadline for making the payment after confirming the booking?Answer: While there is no specific deadline mentioned, it is advisable to make the payment promptly after confirming your booking to ensure a smooth transaction.