Nuvoco Vistas Corporation Ltd logo

Nuvoco Vistas Corporation Ltd

NUVOCO NSE

Key Fundamentals

MicrocapCementConstruction
Market Cap
₹12,500 Cr
Volatility
Moderate
P/E Ratio
32.02
EBITDA
₹1,809 Cr
Return on Equity
0.24%
Debt to Equity
0.48
Book Value
₹286.39
EPS
₹3.8
52W High
₹477.5
52W Low
₹276.25

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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45 extracted metrics + investor summaries across FY17–FY26.

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Tapetide Score

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Technical Indicators

Key Insights

Weaknesses

3
  • Though the company is reporting repeated profits, it is not paying out dividend
  • The company has delivered a poor sales growth of 8.65% over past five years.
  • Company has a low return on equity of 2.02% over last 3 years.

Growth Rate

Revenue Growth
9.27% ↗
Net Income Growth
1501.65% ↗
Cash Flow Change
-16.58% ↘
ROE
-85.37% ↘
ROCE
-26.23% ↘
EBITDA Margin (Avg.)
18.72% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 3d ago
AI opinion · based on fundamentals
Risk high

Nuvoco Vistas Corporation trades at a market cap of Rs 12,379 Cr with a PE of 32.3x and PB of 1.22x. The company saw TTM profit growth of 173% but carries a low 3-year ROE of 2% and has not paid any dividends despite reporting profits.

Bull Case 7
  • TTM profit growth of 173% indicates a sharp earnings recovery and improving operational performance
  • 5-year compounded profit CAGR of 102% shows the company has scaled from a low base to consistent profitability
  • Price-to-book ratio of 1.22x is relatively modest for a construction materials company, suggesting limited premium over book value
  • TTM sales growth of 9% signals improving demand traction in the current period versus the 3-year sales CAGR of just 2%
  • Last year ROE improved to 4% from the 3-year average of 2%, indicating a positive inflection in return on capital
  • 5-year compounded sales CAGR of 9% reflects reasonable top-line expansion in a cyclical sector
  • Market cap of Rs 12,379 Cr positions Nuvoco as a mid-to-large cap cement player with scale advantages in East India
Bear Case 8
  • 3-year ROE of only 2% reflects persistently poor capital efficiency and weak shareholder returns
  • Zero dividend yield despite repeated profitability suggests capital allocation priorities do not favor shareholders
  • Stock has declined 21% over 1 year, significantly underperforming the broader market
  • PE of 32.3x is elevated given the low ROE of 2-4%, implying the market is pricing in a turnaround that may not materialize
  • 3-year compounded sales CAGR of just 2% indicates near-stagnant revenue growth over a multi-year period
  • 3-year compounded profit CAGR of -2% shows that outside the recent TTM recovery, earnings have actually declined
  • 3-year stock CAGR of -1% demonstrates the market has not rewarded shareholders over a meaningful holding period
  • Poor 5-year sales growth of 8.65% in a sector that benefits from infrastructure spending suggests Nuvoco is losing market share or facing pricing pressure

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 1d ago
Headwinds 1
  • Power & fuel cost rise Q2 Jul 15

    Company expects ~₹100 per tonne cost increase in Q2 FY27 driven by higher power and fuel expenses, partially offsetting savings from cheaper bags and freight.

Positives 4
  • New 2 MMTPA Surat plant live Jul 11

    Nuvoco inaugurated 2 MMTPA grinding capacity at Limla, Surat, targeting total capacity of 35 MMTPA by FY 2028, funded via inter-corporate deposits.

  • Q2 cost relief on bags & freight Jul 15

    Packaging bag prices expected to drop ₹20-25 vs Q1 and railway freight costs to decline from August 1 via better rake availability and seasonal discounts.

  • Strong capex execution in Q1 Jul 15

    ₹370 crores of the ₹900 crore FY27 capex guidance already spent in Q1, with 7-8% market growth target supported by Gujarat volumes.

  • Active institutional investor engagement Aug 5

    Company scheduled meetings with Tata Mutual Fund, Canara HSBC Life Insurance, and participation in Nirmal Bang, Equirus, and Emkay conferences between July 16 and August 14.

Neutral 5
  • BRSR filed for FY26 Aug 7

    Reported turnover of ₹11,338.29 crores, net worth of ₹10,228.77 crores, 71 manufacturing units across 22 states, and improved worker LTIFR from 0.38 to 0.13.

  • Walker Chandiok appointed auditor Jul 13

    Walker Chandiok & Co LLP appointed statutory auditors for a 5-year term after MSKA resigned on July 13 upon completing their 10-year permissible tenure.

  • AGM set for August 31 Aug 7

    27th AGM scheduled for August 31, 2026, to ratify new auditor appointment, re-appoint director Hiren Patel, and approve cost auditor remuneration.

  • Crisil ESG 57 rating for FY25 Jul 22

    Nuvoco assigned a Crisil ESG score of 57 for FY25 by Crisil ESG Ratings & Analytics Limited.

  • Q1 FY27 earnings call rescheduled Jul 12

    Investor call to discuss unaudited Q1 FY27 results moved to July 14, 2026, at 4:00 PM IST.

TL;DR: Nuvoco is executing well on capacity expansion with the new 2 MMTPA Surat plant and strong Q1 capex spend of ₹370 crores toward its ₹900 crore FY27 target. Cost dynamics are mixed — packaging and freight savings partially offset by higher power and fuel costs of ~₹100/tonne. Active investor engagement and stable governance transitions signal confidence. The trend is modestly positive with volume growth on track, though energy cost inflation remains a near-term watch item.

Quarterly Results

  Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
2,806
2,573
2,421
2,933
2,636
2,269
2,409
3,042
2,873
2,458
2,701
3,307
3,129
Expenses
2,413
2,243
2,011
2,443
2,293
2,050
2,151
2,491
2,354
2,091
2,318
2,719
2,560
Operating Profit
393
330
410
491
343
219
258
552
519
367
384
588
568
OPM %
14%
13%
17%
17%
13%
10%
11%
18%
18%
15%
14%
18%
18%
Other Income
9
6
11
7
5
10
0
4
15
4
3
-46
4
Interest
135
140
133
125
127
132
126
113
117
102
99
81
70
Depreciation
244
226
231
218
216
215
217
220
215
218
223
228
226
PBT
24
-30
57
155
5
-118
-85
224
202
51
65
233
276
Tax %
39%
-105%
45%
35%
44%
-28%
-28%
26%
34%
29%
24%
40%
42%
Net Profit
14
2
31
100
3
-85
-61
166
133
36
49
141
160
EPS in Rs
0.4
0.04
0.87
2.81
0.08
-2.38
-1.72
4.63
3.73
1.02
1.37
3.94
4.47
Figures in ₹ Crores

Profit & Loss

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
5,157
6,094
7,052
6,793
7,489
9,318
10,586
10,733
10,357
11,338
11,594
Expenses
4,429
5,105
6,134
5,493
6,028
7,814
9,375
9,109
8,984
9,481
9,688
Operating Profit
728
989
918
1,301
1,460
1,504
1,211
1,624
1,373
1,857
1,907
OPM %
14%
16%
13%
19%
20%
16%
11%
15%
13%
16%
16%
Other Income
11
54
54
33
34
35
-393
33
19
-24
-35
Interest
231
425
457
419
664
570
512
533
496
398
351
Depreciation
313
392
498
528
794
918
951
919
869
884
895
PBT
196
226
17
387
36
51
-645
206
27
551
625
Tax %
16%
30%
260%
36%
171%
37%
-102%
28%
18%
35%
—
Net Profit
166
158
-26
249
-26
32
16
147
22
360
386
EPS in Rs
3.63
10.54
-1.32
10.28
-0.82
0.9
0.44
4.13
0.61
10.06
10.8
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—
Figures in ₹ Crores

Balance Sheet

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
150
150
200
242
315
357
357
357
357
357
Reserves
3,799
3,967
4,788
5,037
7,009
8,464
8,482
8,626
8,645
9,872
Borrowings
4,314
4,369
4,683
4,513
7,792
5,575
4,785
4,404
4,074
4,916
Other Liabilities
3,022
3,133
3,590
3,652
4,792
5,218
5,364
5,323
5,082
5,154
Total Liabilities
11,285
11,619
13,262
13,444
19,907
19,615
18,988
18,710
18,158
20,299
Fixed Assets
8,916
8,690
9,895
9,970
15,042
15,409
14,962
15,027
14,702
14,686
CWIP
143
144
605
647
1,240
399
596
488
387
2,474
Investments
412
844
456
0
384
186
0
1
1
1
Other Assets
1,814
1,942
2,306
2,827
3,241
3,621
3,430
3,194
3,067
3,137
Total Assets
11,285
11,619
13,262
13,444
19,907
19,615
18,988
18,710
18,158
20,299
Figures in ₹ Crores

Cash Flow

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
922
951
860
1,025
1,717
1,221
1,711
1,593
1,329
1,485
Investing
-513
-602
-149
-310
-2,898
-190
-260
-573
-337
-2,500
Financing
-503
-387
-647
-559
1,420
-1,420
-1,362
-1,114
-913
927
Net Cash Flow
-94
-38
65
156
239
-390
89
-95
79
-89
Free Cash Flow
781
734
279
455
1,170
811
1,260
1,013
978
775
CFO/OP
135
105
96
86
120
86
143
101
97
84
Figures in ₹ Crores

Ratios

  Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
31
25
26
27
22
22
21
20
23
24
Inventory Days
114
125
148
179
215
283
215
177
135
128
Days Payable
234
193
193
233
263
316
348
315
281
282
Cash Conversion Cycle
-88
-44
-20
-27
-26
-11
-113
-118
-123
-130
Working Capital Days
-41
-113
-102
-115
-161
-88
-102
-102
-111
-98
ROCE %
—
7%
5%
8%
6%
4%
2%
5%
4%
7%

Shareholding Pattern

As of Jun 2026
Promoters 72.02%
DIIs 17.99%
FIIs 4.71%
Public 4.57%
Others 0.71%
Total 100.00%
  Jul 2021Aug 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters
95.24%
71.03%
71.03%
71.03%
71.42%
71.72%
71.79%
71.79%
71.79%
71.79%
71.79%
71.79%
72.02%
72.02%
72.02%
72.02%
72.02%
72.02%
72.02%
72.02%
72.02%
72.02%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
3.05%
3.43%
3.50%
3.24%
3.37%
3.55%
3.82%
5.19%
5.00%
4.88%
4.71%
DIIs
0.00%
7.89%
11.25%
12.22%
13.62%
14.55%
15.34%
20.16%
20.45%
16.32%
19.95%
19.97%
18.60%
18.46%
18.86%
19.27%
19.37%
19.10%
18.10%
18.09%
18.34%
17.99%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
0.00%
5.44%
3.94%
3.78%
3.85%
4.47%
4.45%
4.07%
3.80%
4.02%
4.29%
4.37%
5.03%
5.21%
5.09%
4.63%
4.42%
4.37%
4.01%
4.18%
4.13%
4.57%
Others
4.76%
15.64%
13.79%
12.97%
11.11%
9.26%
8.42%
3.99%
3.97%
7.87%
3.97%
0.83%
0.92%
0.81%
0.79%
0.72%
0.64%
0.69%
0.69%
0.71%
0.63%
0.71%
No. of Shareholders
11
4,96,311
3,61,190
3,05,605
2,86,954
2,80,646
2,72,307
2,62,416
2,53,546
2,47,527
2,39,732
2,30,864
2,26,804
2,19,934
2,13,595
2,03,217
1,97,095
1,92,406
1,82,725
1,82,123
1,78,159
1,79,030

Documents

Frequently Asked Questions about Nuvoco Vistas Corporation Ltd

What does Nuvoco Vistas Corporation Ltd do?
Nuvoco Vista Corporation Ltd (NVCL), is one of the largest cement companies and concrete manufacturers in India with a consolidated capacity of 25 MMTPA. It offers a diversified range of products such as cement, Ready-mix Concrete (RMX), and modern building materials i.e. adhesives, wall putty, d...
Where is Nuvoco Vistas Corporation Ltd (NUVOCO) listed?
Nuvoco Vistas Corporation Ltd is listed on the Indian stock exchanges. It is listed on NSE: NUVOCO and BSE: 543334. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Nuvoco Vistas Corporation Ltd belong to?
Nuvoco Vistas Corporation Ltd operates in the Construction sector within the Cement industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Nuvoco Vistas Corporation Ltd?
Nuvoco Vistas Corporation Ltd has a market capitalisation of approximately ₹12500.47 Cr. Based on this, it is classified as a Mid Cap stock.
What is the PE ratio of Nuvoco Vistas Corporation Ltd?
The Price-to-Earnings (PE) ratio of Nuvoco Vistas Corporation Ltd is 32.02. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Nuvoco Vistas Corporation Ltd?
Over the past 52 weeks, Nuvoco Vistas Corporation Ltd has traded between a low of ₹276.25 and a high of ₹477.5. This range helps investors understand the stock's price volatility and recent trading levels.
What is the Return on Equity (ROE) of Nuvoco Vistas Corporation Ltd?
Nuvoco Vistas Corporation Ltd has a Return on Equity (ROE) of 0.24%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Nuvoco Vistas Corporation Ltd on Tapetide?
On Tapetide, you can view Nuvoco Vistas Corporation Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

Nuvoco Vista Corporation Ltd (NVCL), is one of the largest cement companies and concrete manufacturers in India with a consolidated capacity of 25 MMTPA. It offers a diversified range of products such as cement, Ready-mix Concrete (RMX), and modern building materials i.e. adhesives, wall putty, dry plaster, cover blocks, and more.[1]

Website nuvoco.com
Listed 2021-08-23
Face Value ₹ 10
Issued Size 35,71,56,153

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