Nuvoco Vistas Corporation Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Cement: 90.6% • Ready Mix Concrete: 9.4%
AI Sector View
AI GENERATEDConstruction Materials
Construction materials remain supported by healthy building activity. Core industries cement growth accelerated to 13.1% YoY (2026-07), while finished steel consumption was 8.0% YoY (2026-06); steel output itself was softer at 2.9% YoY (2026-07). FPI positioning is still mildly negative at INR -497 crore over 3 months to 2026-08-31, but the fundamental demand backdrop remains constructive.
PROS
- Company has consistently been profitable over the last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 8.33x)
- Operating margins have improved to 14.3% from 10.3%
- Stock looks reasonably valued - P/E of 30.6 is below its historical median
- Company generates healthy free cash flow
- Attractively priced for its growth - PEG of 0.2
CONS
- Recent results are weak - TTM profit is down 35.3% versus prior year
- Company has a low return on equity of 1.9% over last 3 years
- Company has a low return on capital employed of 5.6%
- Though reporting repeated profits, the company pays out little dividend (0.0%)
- Company's return on assets is weak at 1.9%
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| ULTRACEMCO | 10996.00 | 37.95 | 324029.22 | 2.18 | 2603.72 | 17.24 | 24648.20 | 15.85 | 13.25 | 20.35 |
| AMBUJACEM | 391.00 | 22.20 | 97156.35 | 0.51 | 660.00 | -31.93 | 9500.00 | -7.67 | 6.24 | 16.78 |
| SHREECEM | 22588.80 | 50.00 | 81502.08 | 0.66 | 531.12 | -17.48 | 6233.13 | 18.03 | 10.61 | 20.41 |
| JKCEMENT | 4841.40 | 39.56 | 37408.65 | 0.41 | 274.62 | -15.31 | 4031.72 | 20.26 | 14.89 | 16.07 |
| DALBHARAT | 1749.20 | 35.17 | 32809.04 | 0.51 | 192.00 | -51.39 | 3890.00 | 6.99 | 8.15 | 20.69 |
| ACC | 1246.15 | 12.26 | 23401.11 | 0.60 | 147.00 | -60.84 | 5808.00 | -4.59 | 11.60 | 7.90 |
| RAMCOCEM | 866.40 | 31.75 | 20472.37 | 0.29 | 31.24 | -63.06 | 2273.05 | 9.60 | 10.75 | 13.49 |
| JSWCEMENT | 118.80 | 21.30 | 16196.78 | 0.42 | 153.43 | 111.23 | 1896.41 | 21.58 | -4.21 | 16.41 |
| NUVOCO | 330.20 | 30.56 | 11793.30 | 0.00 | 159.63 | 19.88 | 3128.71 | 8.91 | 7.11 | 18.16 |
| INDIACEM | 346.30 | 116.03 | 10731.74 | 0.00 | 26.85 | 120.20 | 1019.42 | -0.52 | 0.30 | 15.28 |
| STARCEMENT | 195.35 | 21.36 | 7895.66 | 0.51 | 73.91 | -24.71 | 942.89 | 3.39 | 8.42 | 20.63 |
| BIRLACORPN | 825.30 | 11.48 | 6355.25 | 1.51 | 115.73 | -3.21 | 2646.45 | 7.83 | 10.88 | 12.93 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | |
| 2,413 | 2,243 | 2,011 | 2,443 | 2,293 | 2,050 | 2,151 | 2,491 | 2,354 | 2,091 | 2,318 | 2,719 | 2,856 | |
| Operating Profit | 393 | 330 | 410 | 491 | 343 | 219 | 258 | 552 | 519 | 367 | 384 | 588 | 272 |
| OPM % | 13.99% | 12.82% | 16.95% | 16.73% | 13.02% | 9.64% | 10.72% | 18.13% | 18.05% | 14.93% | 14.20% | 17.77% | 8.71% |
| 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 |
| Profit before Tax | 24 | -30 | 57 | 155 | 5 | -118 | -85 | 224 | 202 | 51 | 65 | 233 | 276 |
| Tax % | 39.01% | 105.17% | 45.39% | 35.26% | 44.20% | 27.60% | 27.55% | 26.02% | 33.95% | 28.82% | 23.50% | 39.62% | 42.17% |
| Net Profit | 0 | 0 | 0 | 0 | 3 | -85 | -61 | 166 | 133 | 36 | 49 | 141 | 160 |
| 0.40 | 0.04 | 0.87 | 2.81 | 0.08 | -2.38 | -1.72 | 4.63 | 3.73 | 1.02 | 1.38 | 3.94 | 4.47 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,157 | 6,094 | 7,053 | 6,793 | 7,489 | 9,318 | 10,586 | 10,733 | 10,357 | 11,338 | 11,594 | |
| 4,429 | 5,106 | 6,149 | 5,496 | 6,028 | 7,816 | 9,376 | 9,109 | 8,985 | 9,481 | 9,984 | |
| Operating Profit | 728 | 988 | 903 | 1,297 | 1,460 | 1,502 | 1,210 | 1,624 | 1,372 | 1,857 | 1,611 |
| OPM % | 14.12% | 16.22% | 12.81% | 19.09% | 19.50% | 16.11% | 11.43% | 15.13% | 13.25% | 16.38% | 13.89% |
| 11 | 54 | 53 | 37 | 34 | 37 | -393 | 33 | 19 | -24 | -35 | |
| Interest | 231 | 425 | 452 | 419 | 664 | 570 | 512 | 533 | 496 | 398 | 351 |
| Depreciation | 313 | 392 | 485 | 528 | 794 | 918 | 951 | 919 | 869 | 884 | 895 |
| Profit before Tax | 196 | 226 | 19 | 387 | 36 | 51 | -645 | 206 | 27 | 551 | 625 |
| Tax % | 15.53% | 29.95% | 223.38% | 35.55% | 171.10% | 36.97% | 102.46% | 28.44% | 17.62% | 34.65% | 38.20% |
| Net Profit | 166 | 158 | -24 | 249 | -26 | 32 | 16 | 147 | 22 | 360 | 386 |
| EPS | 2.08 | 1.37 | -0.98 | 10.28 | -0.82 | 0.93 | 0.44 | 4.13 | 0.61 | 10.06 | — |
| 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:
- 8%
- 5 Years:
- 9%
- 3 Years:
- 2%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 5%
- 5 Years:
- —
- 3 Years:
- 183%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- -10%
- 3 Years:
- -3%
- 1 Year:
- -23%
RETURN ON EQUITY
- 10 Years:
- 2%
- 5 Years:
- 1%
- 3 Years:
- 2%
- Last Year:
- 4%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 150 | 150 | 200 | 242 | 315 | 357 | 357 | 357 | 357 | 357 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 886 |
| 3,799 | 3,967 | 4,751 | 5,037 | 7,009 | 8,464 | 8,482 | 8,626 | 8,645 | 8,985 | |
| 4,299 | 3,261 | 3,371 | 3,679 | 5,913 | 5,572 | 4,801 | 3,232 | 2,725 | 4,168 | |
| Trade Payables | 740 | 681 | 765 | 786 | 870 | 1,193 | 1,703 | 1,686 | 1,587 | 1,643 |
| 2,297 | 3,564 | 4,123 | 3,700 | 5,801 | 4,029 | 3,645 | 4,808 | 4,843 | 4,260 | |
| Total Liabilities | 11,285 | 11,624 | 13,210 | 13,444 | 19,907 | 19,615 | 18,988 | 18,710 | 18,158 | 20,299 |
| 8,915 | 8,688 | 9,842 | 9,969 | 15,041 | 15,408 | 14,961 | 15,026 | 14,702 | 14,477 | |
| Capital Work in Progress | 130 | 141 | 605 | 647 | 1,236 | 399 | 594 | 471 | 383 | 2,474 |
| 412 | 844 | 456 | 0 | 384 | 186 | 0 | 1 | 1 | 1 | |
| 361 | 430 | 585 | 603 | 712 | 1,068 | 1,050 | 947 | 762 | 745 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 591 | 660 | 744 | |
| Cash & Bank | 77 | 43 | 125 | 511 | 528 | 149 | 203 | 107 | 182 | 96 |
| 1,391 | 1,477 | 1,598 | 1,714 | 2,006 | 2,405 | 2,180 | 1,568 | 1,469 | 1,761 | |
| Total Assets | 11,285 | 11,624 | 13,210 | 13,444 | 19,907 | 19,615 | 18,988 | 18,710 | 18,158 | 20,299 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 982 | 1,042 | 863 | 1,125 | 1,757 | 1,293 | 1,728 | 1,593 | 1,329 | 1,485 | |
| Cash from Investing | -529 | -602 | -149 | -310 | -2,924 | -190 | -260 | -573 | -337 | -2,500 |
| Cash from Financing | -503 | -383 | -636 | -559 | 1,420 | -1,420 | -1,362 | -1,114 | -913 | 927 |
| -94 | -34 | 61 | 156 | 213 | -390 | 89 | -95 | 79 | -89 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-02 - Nuvoco Vistas Corporation Limited has informed the Exchange about Schedule of meet
2026-09-02 - Nuvoco Vistas Corporation Limited has informed the Exchange about Schedule of meet
2026-09-02 - Nuvoco Vistas Corporation Limited has informed the Exchange about Schedule of meet
2026-09-02 - Nuvoco Vistas Corporation Limited has informed the Exchange about Schedule of meet
2026-09-01 - Nuvoco Vistas Corporation Limited has informed the Exchange about ESG Rating
2026-08-31 - Nuvoco Vistas Corporation Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 31, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
2026-08-25 - Nuvoco Vistas Corporation Limited has informed the Exchange about Schedule of meet
2026-08-25 - Nuvoco Vistas Corporation Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-21 - Nuvoco Vistas Corporation Limited has informed the Exchange about Credit Rating
News
Recent coverage and analyst commentary for NUVOCO
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