NOCIL Ltd
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 36.1%
Cons
- The company has delivered a poor sales growth of 7.10% over past five years.
- Promoter holding is low: 33.8%
- Company has a low return on equity of 5.29% over last 3 years.
- Earnings include an other income of Rs.41.8 Cr.
- Earnings include an other income of Rs.41.2 Cr.
Peer Comparison
| Name | ROCE % | P/E | Mar Cap Rs.Cr. | Sales Qtr Rs.Cr. | Qtr Sales Var % | NP Qtr Rs.Cr. | Qtr Profit Var % |
|---|---|---|---|---|---|---|---|
| Aarti Industries | 6.85 | 42.57 | 17561.36 | 2205 | 13.13 | 137 | 42.71 |
| Aether Industri. | 11.92 | 87.75 | 19849.84 | 305.12 | 27.03 | 54.01 | 4.78 |
| Atul | 14.87 | 27.48 | 18621.90 | 1670.07 | 15.05 | 211.10 | 66.13 |
| Deepak Nitrite | 11.49 | 40.07 | 22450.29 | 2120.33 | -2.72 | 219.83 | 8.56 |
| Gujarat Fluoroch | 9.86 | 73.66 | 43313.90 | 1369 | 11.76 | 109 | -41.93 |
| Navin Fluo.Intl. | 21.37 | 59.19 | 39585.56 | 937.71 | 33.78 | 212.62 | 113.03 |
| NOCIL | 4.37 | 53.79 | 2927.90 | 330.35 | -2.75 | 18.05 | -11.43 |
| Pidilite Inds. | 31.02 | 66.22 | 163083.21 | 3583.38 | 14.08 | 584.15 | 32.82 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Metric | Mar 2023 | Jun 2023 | 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 | 393 | 397 | 351 | 341 | 356 | 372 | 363 | 318 | 340 | 336 | 321 | 316 | 330 | 403 |
| YOY Sales Growth % | -15.13% | -22.05% | -9.85% | 4.57% | -9.22% | -6.18% | 3.37% | -6.60% | -4.72% | -9.66% | -11.62% | -0.72% | -2.75% | 19.87% |
Expenses | 344 | 342 | 307 | 293 | 313 | 332 | 326 | 294 | 306 | 307 | 300 | 290 | 310 | 359 |
| Material Cost % | 59% | 57% | 57% | 54% | 58% | 58% | 57% | 56% | 58% | 58% | 59% | 58% | 61% | 57% |
| Employee Cost % | 5% | 6% | 7% | 7% | 5% | 7% | 6% | 7% | 6% | 7% | 7% | 7% | 7% | 6% |
Operating Profit | 49 | 54 | 44 | 48 | 43 | 40 | 37 | 24 | 34 | 30 | 21 | 26 | 20 | 44 |
OPM % | 12% | 14% | 13% | 14% | 12% | 11% | 10% | 7% | 10% | 9% | 7% | 8% | 6% | 11% |
Other Income | 3 | 5 | 5 | 6 | 25 | 10 | 9 | 15 | 5 | 6 | 16 | 4 | 15 | 6 |
| Exceptional items | 0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -0 | -4.92 | -0 | -0 |
| Other income normal | 3.22 | 4.73 | 4.91 | 6.12 | 24.89 | 9.95 | 8.82 | 14.77 | 5.40 | 6.36 | 16.02 | 9.09 | 15.29 | 5.77 |
Interest | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation | 14 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 14 | 13 | 13 |
Profit before tax | 38 | 46 | 36 | 40 | 55 | 36 | 32 | 25 | 25 | 22 | 23 | 16 | 22 | 36 |
Tax % | 26% | 27% | 25% | 26% | 25% | 25% | -28% | 26% | 20% | 25% | 26% | 26% | 17% | 25% |
Net Profit | 28 | 34 | 27 | 30 | 41 | 27 | 41 | 19 | 20 | 17 | 17 | 12 | 18 | 27 |
| Exceptional items AT | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4 | 0 | 0 |
| Profit excl Excep | 28.38 | 34 | 27 | 30 | 41 | 27 | 41 | 19 | 20 | 17 | 17 | 16 | 18 | 27 |
| Profit for PE | 28.38 | 34 | 27 | 30 | 41 | 27 | 41 | 19 | 20 | 17 | 17 | 16 | 18 | 27 |
| Profit for EPS | 28.38 | 34 | 27 | 30 | 41 | 27 | 41 | 19 | 20 | 17 | 17 | 12 | 18 | 27 |
| YOY Profit Growth % | -58.55% | -49% | -25% | 59% | 45% | -19% | 54% | -38% | -50% | -39% | -58% | -15% | -11% | 65% |
| EPS in Rs | 1.70 | 2.02 | 1.61 | 1.79 | 2.47 | 1.63 | 2.48 | 1.11 | 1.22 | 0.99 | 1.03 | 0.73 | 1.08 | 1.64 |
What is happening this quarter?
- Sales grew faster than expenses, which supports operating leverage.
- Net profit improved versus the same quarter last year.
- Sequential sales improved in the latest quarter.
Quarterly Snapshot
Latest quarter against the previous quarter and the same quarter last year.
| Metric | Latest | QoQ | YoY | What it means |
|---|---|---|---|---|
| Sales | 403 | +22.1% | +19.9% | Sales improved versus the same quarter last year. |
| Expenses | 359 | +15.8% | +16.9% | Expenses needs monitoring versus the same quarter last year. |
| Operating Profit | 44 | +120.0% | +46.7% | Operating Profit improved versus the same quarter last year. |
| OPM % | 11% | +83.3% | +22.2% | OPM % improved versus the same quarter last year. |
| Net Profit | 27 | +50.0% | +58.8% | Net Profit improved versus the same quarter last year. |
| EPS | 1.6 | +51.9% | +65.7% | EPS improved versus the same quarter last year. |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Metric | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 719 | 715 | 742 | 964 | 1,043 | 846 | 925 | 1,571 | 1,617 | 1,445 | 1,393 | 1,303 | 1,370 |
| Sales Growth % | 20.61% | -0.53% | 3.78% | 29.88% | 8.19% | -18.85% | 9.26% | 69.93% | 2.88% | -10.63% | -3.60% | -6.44% | — |
Expenses | 606 | 577 | 584 | 698 | 752 | 670 | 798 | 1,287 | 1,367 | 1,254 | 1,258 | 1,206 | 1,258 |
| Material Cost % | 54% | 50% | 48% | 46% | 45% | 46% | 55% | 55% | 55% | 56% | 57% | 59% | — |
| Manufacturing Cost % | 16% | 15% | 14% | 13% | 14% | 16% | 16% | 15% | 17% | 17% | 18% | 18% | — |
| Employee Cost % | 7% | 8% | 8% | 7% | 7% | 9% | 7% | 5% | 5% | 6% | 7% | 7% | — |
| Other Cost % | 8% | 8% | 8% | 6% | 7% | 8% | 9% | 7% | 7% | 7% | 9% | 9% | — |
Operating Profit | 113 | 139 | 159 | 266 | 291 | 177 | 127 | 284 | 249 | 190 | 135 | 97 | 112 |
OPM % | 16% | 19% | 21% | 28% | 28% | 21% | 14% | 18% | 15% | 13% | 10% | 7% | 8% |
Other Income | 3 | 3 | 8 | 11 | 10 | 10 | 14 | 3 | 7 | 40 | 39 | 42 | 41 |
| Exceptional items | -1.19 | -0.49 | -0.43 | -3.02 | 2.73 | 3.39 | 2 | -0.25 | 0.88 | 20.92 | 6.83 | 7.82 | — |
| Other income normal | 3.89 | 3.05 | 8.89 | 13.85 | 7.03 | 6.25 | 12.05 | 3.52 | 6.23 | 18.96 | 31.75 | 34.02 | — |
Interest | 17 | 9 | 2 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 1 |
Depreciation | 14 | 14 | 19 | 23 | 23 | 32 | 36 | 47 | 54 | 51 | 52 | 54 | 54 |
Profit before tax | 86 | 118 | 146 | 253 | 277 | 152 | 104 | 240 | 201 | 177 | 119 | 84 | 98 |
Tax % | 34% | 34% | 34% | 33% | 33% | 14% | 17% | 27% | 26% | 26% | 10% | 24% | — |
Net Profit | 57 | 78 | 97 | 169 | 184 | 131 | 86 | 176 | 149 | 131 | 108 | 64 | 75 |
| Exceptional items AT | -1 | -0 | -0 | -2 | 2 | 3 | 1 | -0 | 1 | 16 | 8 | 10 | — |
| Profit excl Excep | 58 | 78 | 97 | 171 | 182 | 128 | 85 | 176 | 148 | 116 | 99 | 54 | — |
| Profit for PE | 58 | 78 | 97 | 171 | 182 | 128 | 85 | 176 | 148 | 116 | 99 | 54 | — |
| Profit for EPS | 57 | 78 | 97 | 169 | 184 | 131 | 86 | 176 | 149 | 131 | 108 | 64 | — |
| Profit Growth % | 135% | 36% | 24% | 76% | 7% | -30% | -34% | 107% | -16% | -22% | -14% | -45% | — |
| EPS in Rs | 3.53 | 4.83 | 5.92 | 10.25 | 11.13 | 7.91 | 5.20 | 10.56 | 8.92 | 7.88 | 6.44 | 3.84 | 4.48 |
| Dividend Payout % | 28% | 25% | 30% | 24% | 22% | 32% | 38% | 28% | 34% | 38% | 31% | 39% | — |
What is happening?
- Sales growth is not especially strong versus recent history.
- Cost growth is not comfortably below sales growth, so margin expansion is limited.
- Profit is partly supported by other income, so quality looks mixed.
Profit & Loss Snapshot
| Metric | Latest Year | 3Y Trend | 5Y Trend | What it means |
|---|---|---|---|---|
| Sales | 1,370 | Weak | Weak | Revenue growth needs monitoring. |
| Expenses | 1,258 | Low | Low | Costs may pressure margins. |
| Operating Profit | 112 | Weak | Weak | Core profit trend needs monitoring. |
| OPM % | 8% | Weak | Weak | Core margin is near or below recent average. |
| Profit Before Tax | 98 | Weak | Weak | Pre-tax profit shows profit before tax effects. |
| Net Profit | 75 | Weak | Weak | Bottom-line performance needs monitoring. |
| Net Profit Margin % | 5.47% | Moderate | Moderate | This shows how much sales converts into final profit. |
| Other Income | 41 | Low | High | Profit still gets support from non-core income. |
| Interest | 1 | Low | Low | Interest burden looks manageable. |
| EPS | 4.5 | Weak | Weak | EPS growth needs monitoring. |
What stands out?
Strengths
- Interest burden looks manageable.
Weaknesses
- Profits still rely on other income more than ideal.
- Margins remain below the long-term average.
- Expenses are growing too fast relative to revenue.
- Profit growth is slower than revenue growth.
Verdict
The company’s P&L is mixed, with some healthy signals and a few quality or cost pressures still visible.
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Metric | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 161 | 161 | 164 | 164 | 165 | 166 | 166 | 167 | 167 | 167 | 167 | 167 |
Reserves | 253 | 307 | 741 | 873 | 988 | 1,010 | 1,107 | 1,267 | 1,374 | 1,518 | 1,586 | 1,606 |
Borrowings | 147 | 26 | 15 | 5 | 0 | 0 | 6 | 6 | 10 | 13 | 10 | 8 |
| Long term Borrowings | 50.50 | 15 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Short term Borrowings | 75.47 | 0.87 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Lease Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 5.61 | 5.52 | 9.79 | 13.13 | 10.30 | 8.04 |
| Other Borrowings | 21.34 | 10 | 10 | 5 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Liabilities | 196 | 185 | 228 | 273 | 275 | 252 | 320 | 377 | 291 | 298 | 281 | 325 |
| Trade Payables | 89 | 74 | 81 | 114 | 99 | 89 | 171 | 217 | 128 | 118 | 119 | 153 |
| Advance from Customers | 4 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 3 | 1 | 1 |
| Other liability items | 103 | 110 | 146 | 158 | 175 | 161 | 148 | 157 | 161 | 177 | 161 | 171 |
Total Liabilities | 757 | 679 | 1,148 | 1,316 | 1,428 | 1,428 | 1,599 | 1,816 | 1,841 | 1,996 | 2,044 | 2,106 |
Fixed Assets | 293 | 290 | 518 | 503 | 629 | 769 | 892 | 884 | 863 | 846 | 833 | 809 |
| Land | 9 | 9 | 244 | 244 | 244 | 244 | 244 | 244 | 244 | 244 | 244 | 244 |
| Building | 83 | 85 | 84 | 82 | 116 | 190 | 220 | 222 | 232 | 238 | 243 | 244 |
| Plant Machinery | 305 | 312 | 315 | 322 | 434 | 519 | 656 | 686 | 704 | 726 | 757 | 783 |
| Equipments | 10 | 11 | 11 | 3 | 4 | 6 | 7 | 7 | 10 | 12 | 12 | 13 |
| Furniture n fittings | 6 | 6 | 7 | 2 | 3 | 4 | 4 | 4 | 5 | 5 | 5 | 6 |
| Vehicles | 2 | 2 | 4 | 4 | 4 | 4 | 4 | 4 | 5 | 4 | 3 | 3 |
| Intangible Assets | 5 | 5 | 5 | 5 | 5 | 5 | 5 | 8 | 8 | 8 | 8 | 9 |
| Other fixed assets | 3 | 3 | 4 | 4 | 4 | 16 | 5 | 5 | 5 | 6 | 7 | 7 |
| Gross Block | 424 | 433 | 674 | 666 | 814 | 987 | 1,144 | 1,181 | 1,212 | 1,242 | 1,280 | 1,310 |
| Accumulated Depreciation | 131 | 143 | 155 | 163 | 185 | 217 | 252 | 297 | 349 | 396 | 447 | 500 |
CWIP | 3 | 6 | 3 | 39 | 131 | 156 | 14 | 8 | 8 | 16 | 60 | 220 |
Investments | 47 | 47 | 201 | 302 | 148 | 72 | 82 | 67 | 231 | 407 | 385 | 434 |
Other Assets | 413 | 335 | 426 | 472 | 520 | 430 | 611 | 857 | 739 | 727 | 767 | 642 |
| Inventories | 188 | 132 | 114 | 155 | 170 | 136 | 165 | 333 | 285 | 223 | 281 | 157 |
| Trade receivables | 167 | 151 | 167 | 243 | 232 | 203 | 309 | 450 | 346 | 340 | 310 | 290 |
| Cash Equivalents | 5 | 7 | 114 | 28 | 39 | 13 | 80 | 15 | 55 | 94 | 26 | 34 |
| Loans n Advances | 5 | 7 | 5 | 9 | 13 | 15 | 14 | 10 | 8 | 11 | 16 | 11 |
| Other asset items | 49 | 38 | 27 | 37 | 66 | 63 | 43 | 49 | 45 | 59 | 133 | 151 |
Total Assets | 757 | 679 | 1,148 | 1,316 | 1,428 | 1,428 | 1,599 | 1,816 | 1,841 | 1,996 | 2,044 | 2,106 |
What is happening?
- Balance-sheet scale is not expanding strongly.
- Net worth is keeping pace with liability growth.
- Leverage remains low.
Balance Sheet Snapshot
| Metric | Latest Year | 3Y Trend | 5Y Trend | Vs 5Y Avg | What it means |
|---|---|---|---|---|---|
| Total Assets | 2,106 | Weak | Moderate | Strong | Balance sheet size is expanding or stabilizing. |
| Net Worth | 1,773 | Weak | Moderate | Strong | Internal strength and reserves backing the business. |
| Borrowings | 8 | Low | Moderate | Low | Debt remains controlled. |
| Total Liabilities | 2,106 | Low | Moderate | High | External obligations compared with company scale. |
| Fixed Assets | 809 | Weak | Weak | Strong | Productive assets and capacity base. |
| Other Assets | 642 | Low | Low | High | Other assets look manageable. |
| Debt to Net Worth | 0.45% | Low | Low | Low | Leverage compared with owner strength. |
| Fixed Assets / Assets % | 38.41% | Strong | Strong | Strong | How much of assets are productive fixed assets. |
Financial Position
Strengths
- Net worth is keeping pace with liability growth.
- Leverage remains low.
Watchpoints
- No major financial-position stress is visible right now.
Verdict
The balance sheet is mixed, with some healthy signals and a few areas to watch.
Cash Flow Statement
Standalone Figures in Rs. Crores / View Consolidated
| Metric | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | 27 | 165 | 140 | 98 | 164 | 177 | 90 | -32 | 278 | 196 | 24 | 249 |
| Profit from operations | 113 | 138 | 159 | 269 | 292 | 177 | 128 | 282 | 249 | 188 | 137 | 90 |
| Receivables | -19 | 16 | -16 | -77 | 10 | 31 | -105 | -141 | 103 | 6 | 29 | 23 |
| Inventory | -28 | 55 | 18 | -41 | -15 | 34 | -29 | -167 | 48 | 62 | -58 | 124 |
| Payables | -35 | -14 | 13 | 33 | -13 | -10 | 83 | 49 | -88 | -8 | 2 | 37 |
| Loans Advances | 1 | 4 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other WC items | 14 | -4 | 12 | -6 | -22 | -4 | 14 | 5 | 15 | -13 | -52 | -2 |
| Working capital changes | -67 | 57 | 27 | -90 | -40 | 52 | -37 | -255 | 78 | 47 | -80 | 182 |
| Direct taxes | -19 | -31 | -45 | -80 | -88 | -51 | -0 | -59 | -50 | -39 | -33 | -23 |
Cash from Investing Activity | -5 | -12 | -9 | -138 | -102 | -104 | -55 | 33 | -214 | -72 | -41 | -203 |
| Fixed assets purchased | -9 | -14 | -11 | -47 | -235 | -179 | -27 | -36 | -29 | -35 | -123 | -175 |
| Fixed assets sold | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19 | 2 | 6 |
| Investments purchased | 0 | 0 | -47 | -294 | -331 | -237 | -129 | -177 | -307 | -765 | -706 | -670 |
| Investments sold | 0 | 0 | 42 | 200 | 459 | 307 | 95 | 242 | 118 | 696 | 756 | 614 |
| Interest received | 2 | 0 | 5 | 1 | 1 | 2 | 1 | 1 | 2 | 12 | 20 | 8 |
| Dividends received | 1 | 1 | 2 | 2 | 4 | 3 | 0 | 2 | 2 | 2 | 9 | 13 |
| Other investing items | 0 | 0 | -0 | 0 | -0 | 1 | 4 | 0 | 0 | 0 | 0 | 0 |
Cash from Financing Activity | -33 | -151 | -31 | -42 | -50 | -101 | 0 | -34 | -54 | -55 | -50 | -38 |
| Proceeds from shares | 0 | 0 | 5.69 | 4.13 | 5.10 | 0.97 | 3.70 | 2.91 | 1.15 | 0.05 | 4.68 | 0 |
| Proceeds from borrowings | 16.42 | 0 | 0 | 0 | 0 | 0 | 0 | 40.06 | 20 | 22.01 | 4.05 | 0 |
| Repayment of borrowings | -21.33 | -121.44 | 0 | 0 | -5 | 0 | 0 | -40.06 | -20 | -22.01 | -4.05 | 0 |
| Interest paid fin | -16.51 | -10.14 | -2.30 | -1.30 | -0.68 | -1.32 | -0.96 | -1.07 | -1.19 | -1.62 | -1.78 | -1.39 |
| Dividends paid | -9.57 | -15.92 | -23.04 | -34.99 | -49.02 | -98.04 | -0.71 | -33.17 | -49.99 | -50.07 | -50.22 | -33.87 |
| Financial liabilities | 0 | 0 | 0 | 0 | 0 | -2.18 | -1.75 | -2.27 | -3.73 | -3.66 | -2.89 | -3.23 |
| Other financing items | -1.64 | -3.27 | -10.87 | -10 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Net Cash Flow | -10 | 2 | 101 | -81 | 12 | -28 | 36 | -33 | 10 | 69 | -68 | 8 |
Free Cash Flow | 19 | 151 | 130 | 51 | -72 | -2 | 64 | -68 | 249 | 180 | -97 | 81 |
CFO/OP | 41% | 141% | 117% | 67% | 87% | 129% | 71% | 10% | 131% | 124% | 43% | 281% |
What is happening?
- Operating cash flow is positive.
- The company is spending cash on investments, which usually signals expansion.
- The company is not heavily relying on financing.
Cash Flow Snapshot
Latest year, medium-term trend, and where cash is coming from and going.
| Metric | Latest Year | 3Y Trend | 5Y Trend | Vs 5Y Avg | What it means |
|---|---|---|---|---|---|
| Cash from Operating Activity | 249 | Weak | Strong | Strong | Core business is generating healthy cash. |
| Cash from Investing Activity | -203 | Investing for growth | Moderate | Weak | Cash is being used for investments and expansion. |
| Cash from Financing Activity | -38 | Returning cash / deleveraging | Moderate | Moderate | Financing outflows suggest repayments or returns. |
| Net Cash Flow | 8 | Weak | Weak | Moderate | Total cash increased this year. |
| Free Cash Flow | 81 | Weak | Weak | Strong | Cash remains after investment needs. |
| Investing Intensity | 0.82x | Manageable | Expansion-led | Near usual | Investment intensity looks manageable. |
| Financing Dependence | 0 | Low | Limited reliance | Healthy | Financing dependence remains limited. |
Strengths & Risks
Strengths
- Operating cash flow is positive.
- Investments are being funded by internal cash generation.
- Financing dependence remains limited.
Risks
- No major cash-flow risks are standing out right now.
Verdict
The company’s cash generation looks healthy and is funding business needs.
Efficiency Ratios
| Metric | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 85 | 77 | 82 | 92 | 81 | 88 | 122 | 104 | 78 | 86 | 81 | 81 |
Inventory Days | 176 | 134 | 116 | 128 | 133 | 128 | 119 | 141 | 117 | 100 | 129 | 75 |
Days Payable | 84 | 75 | 82 | 94 | 77 | 84 | 124 | 92 | 53 | 53 | 54 | 73 |
Cash Conversion Cycle | 177 | 136 | 116 | 126 | 137 | 132 | 118 | 153 | 142 | 133 | 156 | 83 |
Working Capital Days | 68 | 85 | 86 | 94 | 99 | 104 | 114 | 128 | 107 | 110 | 130 | 91 |
ROCE % | 19% | 24% | 21% | 26% | 25% | 13% | 8% | 18% | 13% | 10% | 7% | 4% |
ROE % | — | — | — | — | — | — | — | — | — | — | — | 3.09 % |
ROA % | — | — | — | — | — | — | — | — | — | — | — | 3.56 |
What is happening?
- Cash conversion cycle is not clearly above its recent average.
- Debtor days are not showing a clear deterioration.
- Return metrics need monitoring versus earlier years.
Efficiency Snapshot
Latest year, change versus previous period, and recent average context.
| Metric | Latest Year | Latest Change | Vs 5Y Avg | What it means |
|---|---|---|---|---|
| Debtor Days | 81 | 0.0 days | -5.0 days | Average days to collect receivables |
| Inventory Days | 75 | -54.0 days | -37.4 days | Average days inventory is held |
| Days Payable | 73 | +19.0 days | +8.0 days | Average days taken to pay suppliers |
| Cash Conversion Cycle | 83 | -73.0 days | -50.4 days | Debtor Days + Inventory Days - Days Payable |
| Working Capital Days | 91 | -39.0 days | -22.2 days | Net working capital expressed in days |
| ROCE % | 4% | -3.0 pts | -6.4 pts | Return on capital employed |
| ROE % | 3.1% | — | 0.0 pts | Return on equity |
| ROA % | 3.6% | — | 0.0 pts | Return on assets |
Efficiency Position
Strengths
- Payable cycle provides supplier credit support.
Risks
- No major efficiency risks are standing out right now.
Verdict
Efficiency looks broadly stable from the available metrics.
NOCIL Ltd News
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NOCIL Ltd Announcements
NOCIL Ltd announces schedule for upcoming Analyst/Institutional Investor meetings
NOCIL Ltd has provided a regulatory intimation regarding its participation in an upcoming investor conference organized by Prabhudas Lilladher. The...
NOCIL Ltd Responds to Exchange Inquiry Regarding Volume Spurt
NOCIL Ltd has responded to formal inquiries from both the BSE and NSE regarding a recent observed spurt in the company's trading volume. The compan...
NOCIL Ltd Announces Appointment of New Statutory Auditors
NOCIL Limited has announced that its Board of Directors has approved the appointment of M/s Deloitte Haskins & Sells Chartered Accountants LLP as t...