---
title: "National Flask Industries Ltd (531903) — Share Price, Financials & Analysis"
symbol: "531903"
company: "National Flask Industries Ltd"
canonical: "https://tapetide.com/stocks/531903"
isin: "INE350B01019"
bse_code: "531903"
generated_at: "2026-10-13T11:00:21.199Z"
---

# National Flask Industries Ltd (531903)

Canonical page: https://tapetide.com/stocks/531903

## Company

- **BSE Code:** 531903
- **ISIN:** INE350B01019
- **Stock Type:** EQUITY
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** nationalgujaratindia.com

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.

## Growth Rates

| Metric | 1Y | 3Y |
| --- | --- | --- |
| net income growth | -10% | -19% |
| revenue growth | -100% | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 243 | 249 | 241 | 245 | 248 | 262 | 271 | 279 | 286 | 295 | 300 | 308 |
| Expenses | 226 | 222 | 214 | 227 | 216 | 230 | 238 | 245 | 257 | 260 | 263 | 269 |
| Operating Profit | 17 | 27 | 26 | 18 | 32 | 32 | 32 | 34 | 29 | 35 | 37 | 39 |
| OPM % | 7 | 11 | 11 | 8 | 13 | 12 | 12 | 12 | 10 | 12 | 12 | 13 |
| Other Income | -183 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Interest | 3 | 4 | 4 | 5 | 5 | 5 | 5 | 5 | 6 | 5 | 5 | 6 |
| Depreciation | 5 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 4 |
| Profit before tax | -174 | 20 | 19 | 10 | 24 | 23 | 24 | 25 | 21 | 27 | 29 | 30 |
| Tax % | 1 | 21 | 12 | 15 | 1 | 15 | 16 | 17 | 7 | 16 | 17 | 16 |
| Net Profit | -176 | 15 | 17 | 8 | 24 | 20 | 20 | 21 | 19 | 23 | 24 | 25 |
| EPS in Rs | -3.66 | 0.32 | 0.34 | 0.17 | 0.49 | 0.41 | 0.4 | 0.43 | 0.39 | 0.46 | 0.46 | 0.48 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 |
| --- | --- | --- | --- | --- | --- |
| Sales | 0 | 0 | 0 | 0 | 0 |
| Expenses | 9 | 1 | 0 | 0 | 0 |
| Operating Profit | -9 | -1 | 0 | 0 | 0 |
| OPM % | -9544 | -1300 | -760 | -1300 | — |
| Other Income | 0 | 0 | 0 | 0 | 1 |
| Interest | 9 | 11 | 14 | 16 | 19 |
| Depreciation | 1 | 0 | 0 | 0 | 0 |
| Profit before tax | -19 | -13 | -15 | -17 | -18 |
| Tax % | 0 | 0 | -1 | 0 | 0 |
| Net Profit | -18 | -13 | -14 | -17 | -18 |
| EPS in Rs | -18.35 | -12.56 | -14.34 | -16.53 | -18.16 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 |
| --- | --- | --- | --- | --- | --- |
| Equity Capital | 10 | 10 | 10 | 10 | 10 |
| Reserves | -61 | -77 | -92 | -108 | -127 |
| Borrowings | 65 | 77 | 91 | 107 | 126 |
| Other Liabilities | 3 | 5 | 5 | 5 | 3 |
| Total Liabilities | 17 | 14 | 14 | 13 | 13 |
| Fixed Assets | 7 | 6 | 6 | 5 | 5 |
| CWIP | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 10 | 8 | 8 | 8 | 8 |
| Total Assets | 17 | 14 | 14 | 13 | 13 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 |
| --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing Activity | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing Activity | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 0 | 0 | 0 | 0 | 0 |
| CFO/OP | 0 | 45 | 45 | 162 | 96 |

### Ratios

| Item | Mar 2006 | Mar 2007 | Mar 2008 | Mar 2009 | Mar 2010 |
| --- | --- | --- | --- | --- | --- |
| ROCE % | — | -9 | -10 | -8 | 5 |

## Shareholding Pattern

### annual

| Category | Feb 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 62.33% | 61.9% | 60.56% | 60.56% | 62.07% | 55.85% | 52.16% | 52.14% | 51.94% | 40.82% | 37.67% |
| FIIs | 0% | 3.72% | 4.89% | 2.95% | 0% | 1.34% | 0.48% | 0.03% | 0.79% | 1.07% | 1.21% |
| DIIs | 0% | 0.06% | 0.35% | 0.3% | 0.37% | 0.3% | 3.64% | 0% | 0% | 0% | 0% |
| Public | 37.67% | 34.32% | 34.2% | 36.19% | 37.56% | 42.5% | 43.72% | 47.84% | 47.27% | 58.11% | 61.12% |
| No. of Shareholders | 8462 | 11672 | 13056 | 15928 | 15691 | 21691 | 117877 | 108170 | 165970 | 188940 | 209206 |

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 52.14% | 52.14% | 52.14% | 52.1% | 51.94% | 51.68% | 40.82% | 40.82% | 40.82% | 40.78% | 38.7% | 37.67% |
| FIIs | 0.03% | 0.07% | 0.08% | 0.44% | 0.79% | 0.46% | 1.32% | 1.43% | 1.07% | 1.27% | 0.96% | 1.21% |
| Public | 47.84% | 47.78% | 47.79% | 47.46% | 47.27% | 47.87% | 57.86% | 57.75% | 58.11% | 57.94% | 60.34% | 61.12% |
| No. of Shareholders | 108170 | 116164 | 144331 | 153949 | 165970 | 165953 | 184966 | 187609 | 188940 | 186861 | 204267 | 209206 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-03-02 | [Kellton''s KAI Receives AGBA Innovation Star Rating Certificate 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9db6b853-bedc-4bb6-89f9-62be6027ad2c.pdf) |
| 2026-02-17 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/xml-data/corpfiling/AttachHis/836072ca-bb1c-4cf0-b05b-f3bf097f6f04.pdf) |
| 2026-02-15 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1881bc50-0741-4478-937e-08d279d839dd.pdf) |
| 2026-02-15 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/2856535c-4145-4d81-844f-1d7bf3acf08f.pdf) |
| 2026-02-14 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7e59f36a-a195-4198-b14d-60049eb067a4.pdf) |
| 2026-02-12 | [Announcement under Regulation 30 (LODR)-Investor Presentation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c6d608de-8221-4307-ac01-6c6bb2a4ae9f.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a873b838-a29f-44e7-bbc2-ac8d62530c70.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b794e108-d198-4b9e-bc4e-c3f643f3aac2.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7e585f86-5d6c-4406-911a-ea3a0ddf6d3b.pdf) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/519602/76824519602.pdf) |
| 2021 | [Financial Year 2021](https://www.bseindia.com/bseplus/AnnualReport/519602/70388519602.pdf) |
| 2020 | [Financial Year 2020](https://www.bseindia.com/bseplus/AnnualReport/519602/66242519602.pdf) |
| Mar 2019 | [Financial Year 2019](https://www.bseindia.com/bseplus/AnnualReport/519602/5196020319.pdf) |
| Mar 2018 | [Financial Year 2018](https://www.bseindia.com/bseplus/AnnualReport/519602/5196020318.pdf) |
| Mar 2017 | [Financial Year 2017](https://www.bseindia.com/bseplus/AnnualReport/519602/5196020317.pdf) |
| Mar 2016 | [Financial Year 2016](https://www.bseindia.com/bseplus/AnnualReport/519602/5196020316.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Feb 2026 | [Concall - Feb 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/836072ca-bb1c-4cf0-b05b-f3bf097f6f04.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e7133a19-88c8-4e9c-a406-15e73cbfaed8.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/44679caf-0937-4b69-b996-aa32a38b4d74.pdf) |
| Jun 2025 | [Concall - Jun 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4d39132d-5486-4221-ac0b-011142f03790.pdf) |
| Feb 2025 | [Concall - Feb 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ba9a1b27-4237-4e85-a909-09406231a04f.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/159af86a-abb1-4b30-ad43-b4b760f10bec.pdf) |
| Jul 2024 | [Concall - Jul 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/45b7594b-28c2-4cea-a6ba-ee20390860d2.pdf) |
| Jun 2024 | [Concall - Jun 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/a8248ed6-3e79-4e53-82bb-b3d3e28c7a62.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/797eb292-2e34-49ef-8895-5ae57377c239.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/016672bc-60c2-41c0-b81d-fda1bebf8137.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2025-01-31 | Credit rating update — India Ratings |
| 2023-11-02 | Credit rating update — India Ratings |
| 2022-11-21 | Credit rating update — India Ratings |
| 2021-11-17 | Credit rating update — India Ratings |
| 2020-09-24 | Credit rating update — ICRA |
| 2020-09-01 | Credit rating update — India Ratings |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:00:21.199Z.