NCL Industries Limited has informed the Exchange regarding Monthly Business Updates for the month of March 2026
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NCL Industries reported its production and dispatch numbers for Q4 FY26 and full-year FY26. Cement, its core business, showed modest growth: production rose 2% for the quarter (8.02 lakh MT vs 7.91 lakh MT) and 2% for the year (27.68 lakh MT vs 27.12 lakh MT), with dispatches also up 1-2%. However, the picture was weak elsewhere. Cement Boards production fell 51% in Q4 and 39% for the full year. RMC volumes declined 5% in Q4 and 12% for the year. Doors business collapsed nearly 100% in Q4 (only 20 units vs 4,725) and fell 94% for the year. Hydro power generation rose 3% for the full year despite a 21% dip in Q4.
Core cement segment remains stable with low single-digit growth, which should support base earnings. However, sharp volume declines in cement boards, RMC, and especially the near-shutdown of the doors business signal serious demand or operational issues in non-core segments, which may weigh on overall margins and diversification narrative.