Nalwa Sons Investments Ltd.

•

nalwasons.comBSE: 532256NSE: NSIL

Market Cap₹ 2,922 Cr.

Current Price

High / Low₹ 8,730 / 4,700

Stock P/E62.2

Book Value₹ 28,803

Price to Book0.19

Dividend Yield0.00 %

ROCE0.4 %

ROE0.3 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2025 • Investments & Finance: 86.5% • Trading of Goods: 13.5%

AI Sector View

AI GENERATED

Financial Services

Buy

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

View full sector analysis →

PROS

Comfortable capital adequacy - CAR of 31.3%
Asset quality is healthy - gross NPA of just 0.0%
Company has delivered good sales growth of 16.8% CAGR over last 5 years
Company generates healthy free cash flow

CONS

Net NPA is elevated at 6.8% - provisioning cushion is thin
Company has a low return on capital employed of 0.8%
Company has a low return on equity of 0.6% over last 3 years
Operating margins have contracted to 58.8% from 103.0%
Thin net interest margin of 0.0%
Company has delivered a poor profit growth of 8.5% over past five years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Financial ServicesFinanceFinance - Investment

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	BAJAJFINSV	1958.00	30.92	313683.61	0.08	6296.67	18.15	42036.90	92.22	11.88	40.79
2.	AIIL	519.30	21.02	44100.28	0.00	11082.20	1075.19	14695.40	1109.37	30.27	88.91
3.	CHOLAHLDNG	1503.20	10.58	28226.71	0.09	1788.99	42.04	11113.57	42.92	10.52	57.53
4.	TVSHLTD	13145.00	13.50	26595.10	0.65	1173.58	73.77	17076.18	40.01	19.39	16.25
5.	CGCL	271.75	23.19	26146.53	0.07	353.38	102.04	1576.47	62.12	11.68	68.54
6.	MAHSCOOTER	13642.20	55.98	15591.08	1.61	3.32	-90.61	5.41	-81.52	1.06	84.10
7.	JMFINANCIL	134.50	12.38	12871.11	2.42	368.57	-19.66	1200.53	9.69	11.91	58.30
8.	JSWHL	11523.05	93.10	12790.15	0.00	24.54	-92.74	34.58	14.97	0.58	92.45
9.	TSFINV	406.05	18.52	9018.53	2.75	124.95	-92.11	305.57	102.23	3.47	53.35
10.	RELIGARE	251.85	158.05	8682.12	0.00	-46.98	-674.86	2353.40	1051.76	4.71	-2.08
11.	KAMAHOLD	2344.15	8.08	7522.51	1.77	584.02	10.80	4657.56	7.07	20.86	22.01
12.	NSIL	5690.00	52.77	2922.48	0.00	26.69	3.51	34.38	-7.31	0.44	98.50

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	22	24	12	8	30	42	8	9	30	21	8	8	31
	1	1	1	1	1	0	0	35	1	3	0	1	1
Operating Profit	22	23	11	8	30	41	8	-26	29	18	8	7	30
OPM %	97.07%	97.85%	95.64%	93.23%	97.27%	98.99%	94.62%	-295.04%	97.87%	84.67%	95.52%	88.92%	98.37%
Other Income	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
	21	23	11	8	30	41	8	-26	29	18	8	7	30
Tax %	26.26%	26.14%	24.44%	32.80%	25.17%	23.22%	26.52%	13.64%	21.06%	20.66%	36.58%	43.56%	21.19%
Net Profit	16	17	8	5	22	32	6	-23	23	14	5	4	24
	31	33	16	10	43	62	11	-44	45	28	10	7	5

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	19	15	20	32	41	44	68	112	66	89	68
	2	1	10	9	26	11	2	2	2	37	5
Operating Profit	17	14	10	23	15	33	66	110	64	52	63
OPM %	87.61%	92.95%	51.60%	72.00%	36.29%	75.07%	96.72%	98.16%	96.59%	58.80%	92.68%
	0	0	0	14	0	2	4	0	0	0	0
Interest	0	0	0	0	0	0	0	1	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	17	14	10	37	15	35	70	109	63	52	63
Tax %	17.17%	14.34%	-0.83%	12.26%	-64.27%	5.56%	19.67%	25.82%	26.68%	29.59%	25.37%
Net Profit	14	12	10	33	25	33	56	81	46	37	47
EPS	0.00	0.00	0.00	0.00	0.00	64.66	109.73	157.60	90.42	71.95	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 15%
5 Years:: 17%
3 Years:: 9%

COMPOUNDED PROFIT GROWTH

10 Years:: 20%
5 Years:: 8%
3 Years:: -13%

STOCK PRICE CAGR

10 Years:: 22%
5 Years:: 27%
3 Years:: 31%
1 Year:: -19%

RETURN ON EQUITY

10 Years:: 2%
5 Years:: 1%
3 Years:: 1%
Last Year:: 0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5	5	5	5	5	5	5	5	5	5
	358	370	381	3,576	3,166	5,042	7,800	7,801	12,199	16,346
	-8	-8	-9	275	185	638	1,452	1,417	1,906	2,210
Total Liabilities	356	368	377	3,856	3,357	5,686	9,258	9,223	14,111	18,562
	239	292	295	3,755	3,225	5,539	9,052	9,006	13,856	18,295
	0	0	0	0	0	0	0	0	0	0
Cash & Bank	2	0	10	0	10	13	15	19	37	36
	114	76	72	101	121	134	191	198	218	230
Total Assets	356	368	377	3,856	3,357	5,686	9,258	9,223	14,111	18,562

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-6	18	19	7	-2	45	42	97	38	54
Cash from Investing	-15	-18	-8	-37	-22	-44	-34	-66	-26	-69
Cash from Financing	0	0	0	0	0	0	0	-1	-0	-0
	1	-2	10	-10	-0	0	1	4	11	-15

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	26.79	23.42	20.38	63.80	47.86	64.66	109.73	157.60	90.42	71.95
Book Value (₹)	707.19	730.60	750.99	6972.53	6174.78	9827.19	15196.76	15198.79	23761.61	31836.01
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash EPS (₹)	26.80	23.42	20.38	63.84	47.89	64.69	109.77	157.63	90.45	71.98
PROFITABILITY
Operating Margin %	87.61%	93.64%	51.65%	117.33%	36.58%	80.48%	102.98%	98.16%	96.59%	58.80%
Net Margin %	72.55%	80.19%	52.07%	102.89%	60.02%	75.97%	82.70%	72.23%	70.63%	41.43%
ROE %	3.86%	3.26%	2.75%	1.65%	0.73%	0.81%	0.88%	1.04%	0.46%	0.26%
ROCE %	4.66%	3.80%	2.73%	1.88%	0.44%	0.86%	1.09%	1.41%	0.63%	0.37%
	3.95%	3.33%	2.81%	1.55%	0.68%	0.73%	0.75%	0.88%	0.40%	0.23%
EFFICIENCY
Debtor Days	95	65	5	0	148	70	27	17	0	0
Inventory Days	0	0	0	0	0	0	0	0	0	0
Payable Days	0	0	0	0	0	0	0	0	0	0
	95	65	5	0	148	70	27	17	0	0
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
Interest Coverage (x)	0.00x	0.00x	4326.92x	0.00x	0.00x	0.00x	0.00x	125.32x	414.18x	1916.38x
	221.05x	167.67x	249.46x	410.86x	484.23x	93.73x	60.76x	168.28x	301.20x	81.04x
GROWTH
Revenue Growth %	-10.89%	-20.92%	34.05%	58.41%	28.58%	6.75%	55.89%	64.45%	-41.33%	35.65%
Operating Profit Growth %	291.61%	-15.48%	-26.06%	259.84%	-59.91%	134.85%	99.48%	56.75%	-42.27%	-17.29%
Net Profit Growth %	125.98%	-12.59%	-12.96%	213.04%	-24.99%	35.11%	69.71%	43.62%	-42.63%	-20.43%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-42.63%	-20.43%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	37.21x	84.24x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.14x	0.19x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	26.62x	58.57x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	55.62	55.62	55.62	55.62	55.62	55.62	55.62	55.62	55.62
	5.05	5.43	4.99	5.52	5.73	5.82	5.67	6.19	6.19
	0.05	0.05	0.05	0.09	0.15	0.15	0.16	0.16	0.16
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	39.27	38.89	39.33	38.77	38.49	38.40	38.54	38.02	38.02

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-07

Change in Management

2026-08-07 - Nalwa Sons Investments Limited has informed the Exchange about change in Management

2026-08-07

Outcome of Board Meeting

2026-08-07 - Nalwa Sons Investments Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-22

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-22 - Compliance Certificate- Regulation 74(5) of SEBI (Depository and Participants)Regulations, 2018.

2026-06-25

Updates

2026-06-25 - Intimation of closure of Trading Window

2026-06-25

Trading Window

2026-06-25 - Nalwa Sons Investments Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

2026-06-12

Disclosure under SEBI Takeover Regulations

2026-06-12 - Virtuous Tradecorp Private Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

2026-05-29

General Updates

2026-05-29 - Submission of Annual Secretarial Compliance Report for the financial year ended March 31, 2026 under Regulation 24A(2) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ( SEBI Listing Regulations )

2026-05-28

Updates

2026-05-28 - Nalwa Sons Investments Limited has informed the Exchange regarding 'Outcome of Board Meeting under Regulations 30 and 33 of SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")'.

2026-05-28

Outcome of Board Meeting

2026-05-28 - Outcome of Board Meeting under Regulations 30 and 33 of SEBI (Listing Obligations andDisclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations")

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