NACL is an established player and they deal in both technicals and formulations and they cater to the Indian market and to the international market as well. They have over 50 products covering all major crops. They have a strong logistic presence and the products are sold in more than 55,000 counters. NACL has become one of the reliable contract manufacturers for major MNCs. NACL exports products to over 30 countries and has forayed into International Brand business by registering brands in South-East Asia and Africa and are in the process of expanding reach in these regions.
Business Profile[1][2]NACL Industries is a leading agrochemical company engaged in:a) Domestic Retail Business– Supplies crop protection solutions to farmers.b) Domestic Institutional Business– Supplies agrochemical products to B2B customers.c) Exports Business– Supplies technical and formulated agrochemicals to multinational companies and global distributors.
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | UPL | 790.15 | 28.08 | 66630.57 | 0.76 | 612.00 | 209.91 | 12019.00 | 8.38 | 7.66 | 47715.00 | 17.15 | 2372.46 | 484.10 | 2.09 | 0.95 | 0.94 |
| 2. | P I Industries | 3267.90 | 32.82 | 49646.41 | 0.49 | 409.30 | -19.46 | 1872.30 | -15.70 | 22.86 | 7460.70 | 27.18 | 1512.50 | 409.30 | 4.58 | 14.46 | 0.02 |
| 3. | Sumitomo Chemi. | 430.65 | 39.73 | 21473.25 | 0.28 | 177.90 | -6.78 | 914.44 | -5.86 | 25.14 | 3249.74 | 20.16 | 540.43 | 177.90 | 6.73 | 13.91 | 0.02 |
| 4. | Bayer Crop Sci. | 4398.70 | 32.47 | 19770.02 | 2.84 | 152.70 | 12.03 | 1553.40 | -10.60 | 24.80 | 5571.80 | 13.37 | 608.90 | 152.70 | 6.33 | 11.56 | 0.03 |
| 5. | Sharda Cropchem | 824.10 | 16.44 | 7429.25 | 1.09 | 74.35 | 75.22 | 929.11 | 19.59 | 16.50 | 4671.78 | 16.40 | 451.81 | 74.31 | 2.78 | 6.84 | 0.00 |
| 6. | Dhanuka Agritech | 1074.70 | 17.30 | 4843.23 | 0.19 | 93.97 | -20.04 | 598.25 | -8.56 | 28.29 | 2013.83 | 20.12 | 280.01 | 93.97 | 3.14 | 17.27 | 0.02 |
| 7. | Rallis India | 244.25 | 27.79 | 4745.12 | 1.02 | 102.00 | -0.39 | 861.00 | -7.22 | 10.12 | 2770.00 | 11.84 | 170.77 | 97.62 | 2.31 | 4.15 | 0.03 |
| 8. | NACL Industries | 178.77 | – | 4183.46 | 0.00 | 12.60 | 39.68 | 446.34 | -0.44 | -7.89 | 1354.60 | -1.52 | -64.04 | 20.17 | 8.54 | -7.17 | 0.82 |
| – | Median: 23 Co. | 244.25 | 28.45 | 1879.13 | 0.19 | 19.46 | 6.38 | 446.34 | 5.76 | 13.04 | 1354.6 | 11.41 | 39.66 | 20.17 | 2.31 | 5.4 | 0.27 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 565 | 483 | 597 | 386 | 587 | 354 | 454 | 334 | 448 | 267 | 203 | 438 | 446 |
Expenses | 511 | 445 | 527 | 418 | 557 | 352 | 447 | 342 | 412 | 289 | 275 | 406 | 405 |
Operating Profit | 54 | 38 | 70 | -32 | 30 | 1 | 7 | -9 | 36 | -22 | -72 | 32 | 41 |
Other Income | 4 | 2 | 3 | 3 | 1 | 2 | 4 | 4 | 2 | 2 | 32 | 2 | -9 |
Profit before tax | 40 | 22 | 56 | -49 | 11 | -17 | -7 | -24 | 20 | -37 | -55 | 19 | 17 |
Tax % | 25% | 26% | 25% | -25% | 23% | -23% | -24% | -25% | 27% | -24% | -25% | 26% | 26% |
Net Profit | 30 | 16 | 42 | -37 | 9 | -13 | -6 | -18 | 14 | -28 | -41 | 14 | 13 |
EPS in Rs | 1.30 | 0.69 | 1.80 | -1.59 | 0.37 | -0.57 | -0.25 | -0.79 | 0.62 | -1.22 | -1.76 | 0.61 | 0.54 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 636 | 746 | 691 | 734 | 846 | 865 | 1,015 | 1,191 | 1,633 | 2,116 | 1,781 | 1,252 | 1,355 |
Expenses | 625 | 701 | 635 | 678 | 797 | 852 | 946 | 1,078 | 1,492 | 1,920 | 1,774 | 1,318 | 1,375 |
Operating Profit | 11 | 44 | 56 | 56 | 49 | 14 | 69 | 113 | 141 | 196 | 6 | -66 | -21 |
Other Income | 16 | 26 | 18 | 41 | 19 | 26 | 7 | 15 | 16 | 12 | 10 | 39 | 27 |
Interest | 28 | 35 | 37 | 38 | 33 | 34 | 29 | 29 | 30 | 44 | 60 | 49 | 42 |
Depreciation | 22 | 25 | 27 | 28 | 20 | 20 | 24 | 25 | 25 | 26 | 18 | 19 | 20 |
Profit before tax | -23 | 10 | 11 | 31 | 15 | -15 | 23 | 74 | 102 | 138 | -62 | -96 | -55 |
Net Profit | -21 | 8 | 9 | 32 | 11 | -8 | 16 | 50 | 76 | 103 | -47 | -73 | -42 |
EPS in Rs | -1.17 | 0.42 | 0.50 | 1.75 | 0.59 | -0.43 | 0.70 | 2.21 | 3.30 | 4.45 | -2.03 | -3.13 | -1.83 |
Dividend Payout % | 0% | 20% | 17% | 6% | 18% | 0% | 12% | 16% | 14% | 14% | 0% | 0% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 16 | 16 | 16 | 16 | 16 | 17 | 19 | 20 | 20 | 20 | 20 | 20 | 20 |
Reserves | 158 | 161 | 168 | 210 | 219 | 262 | 331 | 392 | 464 | 558 | 507 | 441 | 470 |
Borrowings | 219 | 228 | 232 | 213 | 237 | 210 | 268 | 202 | 446 | 580 | 648 | 281 | 399 |
Other Liabilities | 227 | 260 | 193 | 209 | 237 | 248 | 330 | 354 | 486 | 595 | 494 | 427 | 506 |
Total Liabilities | 620 | 664 | 609 | 648 | 709 | 737 | 948 | 968 | 1,415 | 1,752 | 1,669 | 1,169 | 1,395 |
Fixed Assets | 182 | 176 | 167 | 163 | 158 | 141 | 191 | 191 | 209 | 212 | 238 | 240 | 257 |
Gross Block | 353.87 | 376.77 | 395.21 | 417.95 | 430.45 | 434.36 | 504.72 | 523.05 | 554.11 | 560.31 | 603.75 | 586.53 | – |
Accumulated Depreciation | 171.51 | 201.07 | 228.51 | 255.08 | 272.61 | 292.93 | 314.10 | 332.35 | 344.87 | 347.95 | 365.79 | 346.06 | – |
CWIP | 18 | 12 | 6 | 7 | 5 | 21 | 42 | 35 | 21 | 40 | 26 | 28 | 2 |
Investments | 8 | 10 | 10 | 5 | 5 | 9 | 9 | 30 | 78 | 107 | 114 | 114 | 114 |
Other Assets | 411 | 466 | 426 | 473 | 541 | 566 | 706 | 712 | 1,107 | 1,393 | 1,290 | 785 | 1,022 |
Total Assets | 620 | 664 | 609 | 648 | 709 | 737 | 948 | 968 | 1,415 | 1,752 | 1,669 | 1,169 | 1,395 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 31 | 40 | 46 | 59 | 24 | 36 | 103 | 84 | -116 | -10 | 26 | 449 |
Cash from Investing Activity | -47 | -18 | -12 | -6 | -14 | -27 | -97 | -17 | -111 | -74 | -38 | -14 |
Cash from Financing Activity | 11 | -27 | -33 | -58 | -11 | -9 | 70 | -84 | 204 | 79 | 4 | -410 |
Net Cash Flow | -5 | -4 | 1 | -5 | -1 | 0 | 77 | -17 | -22 | -5 | -8 | 25 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 92 | 108 | 99 | 110 | 124 | 113 | 129 | 103 | 118 | 133 | 160 | 103 |
Inventory Days | 140 | 138 | 153 | 189 | 143 | 144 | 90 | 106 | 132 | 117 | 91 | 105 |
Days Payable | 97 | 121 | 89 | 127 | 129 | 134 | 146 | 128 | 120 | 113 | 85 | 118 |
Cash Conversion Cycle | 135 | 125 | 163 | 172 | 137 | 123 | 73 | 82 | 130 | 137 | 166 | 90 |
Working Capital Days | 3 | 0 | 24 | 42 | 39 | 47 | 7 | 50 | 45 | 41 | 24 | 1 |
ROCE % | 2% | 11% | 12% | 10% | 11% | 4% | 9% | 17% | 17% | 18% | -0% | -8% |
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Stock Analysis
NACL Industries Limited is an agrochemical company involved in crop protection solutions, institutional sales, and exports of technical and formulated agrochemicals. It operates in both domestic and international markets.
Key growth drivers include the strategic integration post-Coromandel International's majority acquisition, the planned rights issue to strengthen its financial base, and a renewed focus on exploring contract development and manufacturing (CDMO) opportunities and product innovation for domestic and international market expansion.
Currently no data available for Order Book.
While historically showing volatile financial performance and losses, the company is undergoing a significant transformation post-Coromandel's acquisition. The key concern now shifts to the successful execution of integration and growth strategies under new management.
The upcoming period will be crucial for monitoring the successful completion and utilization of the rights issue funds, the ongoing integration process with Coromandel International, and the company's financial performance turnaround post-acquisition.
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