Nuvoco Vistas Corporation Ltd.

•

nuvoco.comBSE: 543334NSE: NUVOCO

Market Cap₹ 11,793 Cr.

Current Price

High / Low₹ 453 / 276

Stock P/E44.1

Book Value₹ 267

Price to Book1.06

Dividend Yield0.00 %

ROCE6.4 %

ROE2.8 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2022 • Cement: 89.6% • Ready Mix Concrete: 10.4%

AI Sector View

AI GENERATED

Construction Materials

Buy

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.

Confidence

69%

View full sector analysis →

PROS

Company has delivered good profit growth of 62.8% CAGR over last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 7.03x)
Stock looks reasonably valued - P/E of 44.1 is below its historical median
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

Recent results are weak - TTM profit is down 42.3% versus prior year
Company has a low return on equity of 1.6% over last 3 years
Company has a low return on capital employed of 4.8%
A large part of profit comes from other income (26.7% of PBT)
Interest coverage is weak at 2.0x - earnings barely cover interest

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

Peer comparison

Construction MaterialsConstruction MaterialsCement & Construction Materials

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	ULTRACEMCO	10996.00	37.95	324029.22	2.18	2603.72	17.24	24648.20	15.85	13.25	20.35
2.	AMBUJACEM	391.00	22.20	97156.35	0.51	660.00	-31.93	9500.00	-7.67	6.24	16.78
3.	SHREECEM	22588.80	50.00	81502.08	0.66	531.12	-17.48	6233.13	18.03	10.61	20.41
4.	JKCEMENT	4841.40	39.56	37408.65	0.41	274.62	-15.31	4031.72	20.26	14.89	16.07
5.	DALBHARAT	1749.20	35.17	32809.04	0.51	192.00	-51.39	3890.00	6.99	8.15	20.69
6.	ACC	1246.15	12.26	23401.11	0.60	147.00	-60.84	5808.00	-4.59	11.60	7.90
7.	RAMCOCEM	866.40	31.75	20472.37	0.29	31.24	-63.06	2273.05	9.60	10.75	13.49
8.	JSWCEMENT	118.80	21.30	16196.78	0.42	153.43	111.23	1896.41	21.58	-4.21	16.41
9.	NUVOCO	330.20	30.56	11793.30	0.00	159.63	19.88	3128.71	8.91	7.11	18.16
10.	INDIACEM	346.30	116.03	10731.74	0.00	26.85	120.20	1019.42	-0.52	0.30	15.28
11.	STARCEMENT	195.35	21.36	7895.66	0.51	73.91	-24.71	942.89	3.39	8.42	20.63
12.	BIRLACORPN	825.30	11.48	6355.25	1.51	115.73	-3.21	2646.45	7.83	10.88	12.93

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
	2,265	2,185	1,996	2,493	2,202	1,971	2,017	2,534	2,404	2,143	2,378	2,836	2,692
	2,016	1,950	1,725	2,148	1,929	1,805	1,836	2,153	2,053	1,863	2,056	2,442	2,561
Operating Profit	249	236	271	345	273	166	181	381	352	280	322	394	132
OPM %	10.99%	10.78%	13.55%	13.82%	12.39%	8.43%	8.99%	15.02%	14.62%	13.08%	13.52%	13.88%	4.89%
	29	28	34	28	4	8	2	3	23	38	24	1	24
Interest	92	97	91	88	92	95	89	80	90	107	106	96	91
Depreciation	177	151	161	155	152	156	155	158	150	165	163	164	165
Profit before Tax	9	16	53	130	33	-77	-61	146	134	46	77	134	156
Tax %	33.22%	-95.60%	42.12%	34.91%	34.86%	31.35%	27.09%	20.88%	31.90%	30.04%	27.01%	40.24%	36.76%
Net Profit	6	32	30	84	22	-53	-44	116	91	33	56	80	98
	0.17	0.90	0.85	2.37	0.61	-1.47	-1.24	3.23	2.55	0.91	1.57	2.24	2.75

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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	5,805	7,342	8,582	8,939	8,725	9,762	10,050
	4,429	5,106	6,149	5,496	4,685	6,304	7,762	7,840	7,723	8,414	8,922
Operating Profit	728	989	903	1,297	1,120	1,038	820	1,100	1,001	1,347	1,127
OPM %	14.12%	16.22%	12.81%	19.09%	19.30%	14.14%	9.55%	12.30%	11.48%	13.80%	11.22%
	11	54	53	37	83	116	-140	120	16	86	87
Interest	231	425	452	419	517	401	353	368	355	399	400
Depreciation	313	392	485	528	587	652	696	644	621	643	657
Profit before Tax	196	226	19	387	99	101	-370	208	42	392	413
Tax %	15.53%	29.94%	223.38%	35.55%	77.10%	45.49%	124.34%	26.39%	3.98%	33.58%	35.32%
Net Profit	166	158	-24	249	23	55	90	153	40	260	267
EPS	2.08	1.37	-0.98	10.28	0.72	1.59	2.52	4.28	1.13	7.28	—
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:: 6%
5 Years:: 11%
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: 1%
5 Years:: 63%
3 Years:: 42%

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:: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	3,799	3,967	4,794	5,037	7,057	8,536	8,627	8,778	8,816	9,074
	4,299	3,261	3,371	3,679	4,032	3,721	3,371	2,265	1,816	3,348
Trade Payables	740	681	765	786	666	870	1,118	1,226	1,218	1,252
	2,297	3,564	4,080	3,700	4,703	3,151	2,949	3,825	3,806	3,328
Total Liabilities	11,285	11,624	13,210	13,444	16,773	16,635	16,421	16,451	16,012	17,359
	8,915	8,688	9,842	9,969	9,786	10,344	10,060	10,154	9,969	9,725
Capital Work in Progress	130	141	605	647	961	144	305	205	98	92
	412	844	456	0	2,581	2,457	2,271	3,501	3,501	4,312
	361	430	585	603	502	768	707	666	511	538
	0	0	0	0	0	0	0	696	691	815
Cash & Bank	77	43	125	511	443	93	180	85	162	79
	1,391	1,477	1,598	1,714	2,500	2,829	2,897	1,143	1,080	1,799
Total Assets	11,285	11,624	13,210	13,444	16,773	16,635	16,421	16,451	16,012	17,359

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	982	1,042	863	1,128	1,426	892	1,045	1,048	1,100	1,041
Cash from Investing	-529	-602	-149	-313	-3,799	-209	-135	-410	-255	-1,595
Cash from Financing	-503	-383	-636	-559	2,575	-981	-774	-733	-768	471
	-110	-34	61	156	162	-355	115	-95	77	-83

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	72.02	72.02	72.02	72.02	72.02	72.02	72.02	72.02	72.02
	3.50	3.24	3.37	3.55	3.82	5.19	5.00	4.88	4.71
	18.46	18.86	19.26	19.37	19.10	18.09	18.09	18.35	18.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	6.02	5.87	5.35	5.06	5.06	4.70	4.89	4.76	5.27

Documents

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

2026-09-02

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-02 - Nuvoco Vistas Corporation Limited has informed the Exchange about Schedule of meet

2026-09-02

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-02 - Nuvoco Vistas Corporation Limited has informed the Exchange about Schedule of meet

2026-09-02

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-02 - Nuvoco Vistas Corporation Limited has informed the Exchange about Schedule of meet

2026-09-02

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-02 - Nuvoco Vistas Corporation Limited has informed the Exchange about Schedule of meet

2026-09-01

General Updates

2026-09-01 - Nuvoco Vistas Corporation Limited has informed the Exchange about ESG Rating

2026-08-31

Shareholders meeting

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

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-25 - Nuvoco Vistas Corporation Limited has informed the Exchange about Schedule of meet

2026-08-25

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

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

Credit Rating

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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Nuvoco Vistas Corporation Ltd.

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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

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

2,265

2,185

1,996

2,493

2,202

1,971

2,017

2,534

2,404

2,143

2,378

2,836

2,692

2,016

1,950

1,725

2,148

1,929

1,805

1,836

2,153

2,053

1,863

2,056

2,442

2,561

Operating Profit

249

236

271

345

273

166

181

381

352

280

322

394

132

OPM %

10.99%

10.78%

13.55%

13.82%

12.39%

8.43%

8.99%

15.02%

14.62%

13.08%

13.52%

13.88%

4.89%

Interest

107

106

Depreciation

177

151

161

155

152

156

155

158

150

165

163

164

165

Profit before Tax

130

-77

-61

146

134

156

Tax %

33.22%

-95.60%

42.12%

34.91%

34.86%

31.35%

27.09%

20.88%

31.90%

30.04%

27.01%

40.24%

36.76%

Net Profit

-53

-44

116

0.17

0.90

0.85

2.37

0.61

-1.47

-1.24

3.23

2.55

0.91

1.57

2.24

2.75

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

5,805

7,342

8,582

8,939

8,725

9,762

10,050

4,429

5,106

6,149

5,496

4,685

6,304

7,762

7,840

7,723

8,414

8,922

Operating Profit

728

989

903

1,297

1,120

1,038

820

1,100

1,001

1,347

1,127

OPM %

14.12%

16.22%

12.81%

19.09%

19.30%

14.14%

9.55%

12.30%

11.48%

13.80%

11.22%

116

-140

120

Interest

231

425

452

419

517

401

353

368

355

399

400

Depreciation

313

392

485

528

587

652

696

644

621

643

657

Profit before Tax

196

226

387

101

-370

208

392

413

Tax %

15.53%

29.94%

223.38%

35.55%

77.10%

45.49%

124.34%

26.39%

3.98%

33.58%

35.32%

Net Profit

166

158

-24

249

153

260

267

EPS

2.08

1.37

-0.98

10.28

0.72

1.59

2.52

4.28

1.13

7.28

—

Dividend Payout %

0.00%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

150

200

242

315

357

3,799

3,967

4,794

5,037

7,057

8,536

8,627

8,778

8,816

9,074

4,299

3,261

3,371

3,679

4,032

3,721

3,371

2,265

1,816

3,348

Trade Payables

740

681

765

786

666

870

1,118

1,226

1,218

1,252

2,297

3,564

4,080

3,700

4,703

3,151

2,949

3,825

3,806

3,328

Total Liabilities

11,285

11,624

13,210

13,444

16,773

16,635

16,421

16,451

16,012

17,359

8,915

8,688

9,842

9,969

9,786

10,344

10,060

10,154

9,969

9,725

Capital Work in Progress

130

141

605

647

961

144

305

205

412

844

456

2,581

2,457

2,271

3,501

4,312

361

430

585

603

502

768

707

666

511

538

696

691

815

Cash & Bank

125

511

443

180

162

1,391

1,477

1,598

1,714

2,500

2,829

2,897

1,143

1,080

1,799

Total Assets

11,285

11,624

13,210

13,444

16,773

16,635

16,421

16,451

16,012

17,359

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

982

1,042

863

1,128

1,426

892

1,045

1,048

1,100

1,041

Cash from Investing

-529

-602

-149

-313

-3,799

-209

-135

-410

-255

-1,595

Cash from Financing

-503

-383

-636

-559

2,575

-981

-774

-733

-768

471

-110

-34

156

162

-355

115

-95

-83

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

72.02

3.50

3.24

3.37

3.55

3.82

5.19

5.00

4.88

4.71

18.46

18.86

19.26

19.37

19.10

18.09

18.35

18.00

Government

0.00

6.02

5.87

5.35

5.06

4.70

4.89

4.76

5.27

Nuvoco Vistas Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Nuvoco Vistas Corporation Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI