UCAL Ltd.

•

₹ 143.331.82%

2026-08-21

ucal.comBSE: 500464NSE: UCAL

Market Cap₹ 322 Cr.

Current Price₹ 141

High / Low₹ 160 / 77

Stock P/E—

Book Value₹ 150

Price to Book0.82

Dividend Yield0.00 %

ROCE3.6 %

ROE-4.5 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Latest quarter profit grew 197.1% YoY, showing strong momentum
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Company has a low return on equity of -3.6% over last 3 years
Company has a low return on capital employed of 3.6%
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -3.24x)
Interest coverage is weak at 0.7x - earnings barely cover interest

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

Peer comparison

EDIT COLUMNS

Automobile and Auto ComponentsAutomobile & AncillariesAuto Ancillary

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

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	MOTHERSON	170.35	41.05	179794.93	0.35	1075.66	77.48	35243.77	17.70	13.63	8.86
2.	BOSCHLTD	48360.00	60.36	142643.14	0.56	706.10	-36.74	5841.90	22.00	25.60	14.08
3.	UNOMINDA	1275.00	61.24	73627.07	0.21	315.51	2.10	5556.85	23.79	20.74	11.14
4.	TIINDIA	2936.45	93.72	56841.54	0.12	293.96	-3.04	6215.33	20.20	27.33	8.81
5.	SONACOMS	823.00	73.78	51346.20	0.41	178.51	46.67	1301.20	52.38	14.75	22.55
6.	ENDURANCE	2987.10	43.32	42017.40	0.39	244.52	8.03	4314.89	30.01	18.33	12.42
7.	ZFCVINDIA	2617.15	59.66	29784.61	0.03	1044.78	753.75	10661.76	992.89	20.23	12.93
8.	CRAFTSMAN	10778.15	60.63	28189.64	0.10	150.55	116.31	2431.58	36.30	14.65	15.81
9.	MSUMI	39.27	0.00	26042.54	1.48	1453.20	915.51	34072.60	1273.43	43.72	7.58
10.	GABRIEL	1438.55	85.65	25495.42	0.35	108.13	74.48	1425.68	29.80	26.37	11.71
11.	SANSERA	3894.75	69.76	24304.63	0.10	87.36	38.71	1021.26	33.27	13.97	19.18
12.	UCAL	145.45	0.00	321.64	0.00	5.84	197.12	203.15	4.43	3.56	9.54

Detailed Comparison with:

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
	184	174	187	177	187	213	203	199	195	211	199	233	203
	176	159	175	174	172	194	194	203	184	196	191	216	197
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	2	2	3	3	2	2	15	3	3	-0	2	2	2
Interest	6	7	5	6	9	8	7	6	8	8	8	6	7
Depreciation	9	10	10	5	10	10	11	10	10	9	9	9	6
	-4	-1	1	-4	-2	3	8	-17	-5	-2	-11	-11	8
Tax %	-9.73%	-144.26%	226.09%	-300.89%	-53.66%	81.51%	18.85%	-19.37%	-26.26%	-118.05%	7.98%	-17.20%	26.11%
Net Profit	0	0	0	0	-3	0	6	-21	-6	-4	-10	-13	6
	-2	-1	-0	-8	-1	0	3	-9	-3	-2	-4	-6	0
Equity Capital	22	22	22	22	22	22	22	22	22	22	22	22	22
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	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%
Equity Capital	22	22	22	22	22	22	22	22	22	22	22	22	22
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	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%

Jun 2023

: 184
: 176
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 6
Depreciation: 9
: -4
Tax %: -9.73%
Net Profit: 0
: -2
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 174
: 159
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 7
Depreciation: 10
: -1
Tax %: -144.26%
Net Profit: 0
: -1
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 187
: 175
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 5
Depreciation: 10
: 1
Tax %: 226.09%
Net Profit: 0
: -0
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 177
: 174
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 6
Depreciation: 5
: -4
Tax %: -300.89%
Net Profit: 0
: -8
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 187
: 172
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 9
Depreciation: 10
: -2
Tax %: -53.66%
Net Profit: -3
: -1
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 213
: 194
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 8
Depreciation: 10
: 3
Tax %: 81.51%
Net Profit: 0
: 0
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 203
: 194
Operating Profit: —
OPM %: —
Other Income: 15
Interest: 7
Depreciation: 11
: 8
Tax %: 18.85%
Net Profit: 6
: 3
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 199
: 203
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 6
Depreciation: 10
: -17
Tax %: -19.37%
Net Profit: -21
: -9
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 195
: 184
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 8
Depreciation: 10
: -5
Tax %: -26.26%
Net Profit: -6
: -3
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 211
: 196
Operating Profit: —
OPM %: —
Other Income: -0
Interest: 8
Depreciation: 9
: -2
Tax %: -118.05%
Net Profit: -4
: -2
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 199
: 191
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 8
Depreciation: 9
: -11
Tax %: 7.98%
Net Profit: -10
: -4
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 233
: 216
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 6
Depreciation: 9
: -11
Tax %: -17.20%
Net Profit: -13
: -6
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 203
: 197
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 7
Depreciation: 6
: 8
Tax %: 26.11%
Net Profit: 6
: 0
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	724	791	820	870	732	687	782	823	723	802	846
	651	689	697	745	643	620	710	766	684	763	800
Operating Profit	84	113	130	131	101	79	103	67	49	62	—
OPM %	12	14	16	15	14	12	13	8	7	8	—
Other Income	11	11	7	6	12	13	31	9	10	22	5
Interest	27	28	26	27	27	28	23	22	24	29	29
Depreciation	33	34	30	30	40	40	41	38	33	41	33
	23	51	74	73	35	11	39	6	-9	-8	-16
Tax %	33	30	-37	37	40	-162	11	87	-185	-93	-35
Net Profit	16	36	101	46	21	29	35	1	-25	-16	-21
EPS	0	0	0	0	0	13	16	0	-11	-7	—
Dividend Payout %	50	31	22	43	0	15	13	519	0	0	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	7	16	46	21	10	13	16	0	-11	-7	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	7	16	46	21	10	13	16	0	-11	-7	—

Mar 2016

: 724
: 651
Operating Profit: 84
OPM %: 12
Other Income: 11
Interest: 27
Depreciation: 33
: 23
Tax %: 33
Net Profit: 16
EPS: 0
Dividend Payout %: 50
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 7

Mar 2017

: 791
: 689
Operating Profit: 113
OPM %: 14
Other Income: 11
Interest: 28
Depreciation: 34
: 51
Tax %: 30
Net Profit: 36
EPS: 0
Dividend Payout %: 31
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16

Mar 2018

: 820
: 697
Operating Profit: 130
OPM %: 16
Other Income: 7
Interest: 26
Depreciation: 30
: 74
Tax %: -37
Net Profit: 101
EPS: 0
Dividend Payout %: 22
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 46
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 46

Mar 2019

: 870
: 745
Operating Profit: 131
OPM %: 15
Other Income: 6
Interest: 27
Depreciation: 30
: 73
Tax %: 37
Net Profit: 46
EPS: 0
Dividend Payout %: 43
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 21
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 21

Mar 2020

: 732
: 643
Operating Profit: 101
OPM %: 14
Other Income: 12
Interest: 27
Depreciation: 40
: 35
Tax %: 40
Net Profit: 21
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10

Mar 2021

: 687
: 620
Operating Profit: 79
OPM %: 12
Other Income: 13
Interest: 28
Depreciation: 40
: 11
Tax %: -162
Net Profit: 29
EPS: 13
Dividend Payout %: 15
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 13
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 13

Mar 2022

: 782
: 710
Operating Profit: 103
OPM %: 13
Other Income: 31
Interest: 23
Depreciation: 41
: 39
Tax %: 11
Net Profit: 35
EPS: 16
Dividend Payout %: 13
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 16

Mar 2023

: 823
: 766
Operating Profit: 67
OPM %: 8
Other Income: 9
Interest: 22
Depreciation: 38
: 6
Tax %: 87
Net Profit: 1
EPS: 0
Dividend Payout %: 519
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 0

Mar 2024

: 723
: 684
Operating Profit: 49
OPM %: 7
Other Income: 10
Interest: 24
Depreciation: 33
: -9
Tax %: -185
Net Profit: -25
EPS: -11
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -11

Mar 2025

: 802
: 763
Operating Profit: 62
OPM %: 8
Other Income: 22
Interest: 29
Depreciation: 41
: -8
Tax %: -93
Net Profit: -16
EPS: -7
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -7
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -7

TTM

: 846
: 800
Operating Profit: —
OPM %: —
Other Income: 5
Interest: 29
Depreciation: 33
: -16
Tax %: -35
Net Profit: -21
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 1%
5 Years:: 2%
3 Years:: 1%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 1%
1 Year:: 1%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 1%
3 Years:: -4%
Last Year:: -4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	22	22	22	22	22	22	22	22	22	22
	9	188	276	300	309	336	369	371	349	333
	120	129	152	125	101	154	140	99	106	146
Trade Payables	101	125	113	142	147	144	96	129	130	132
	243	179	126	138	183	166	113	126	182	204
Total Liabilities	496	643	690	728	762	822	741	747	789	837
ASSETS	-	-	-	-	-	-	-	-	-	-
	255	373	385	406	495	471	460	436	491	466
Capital Work in Progress	2	8	14	14	1	2	4	16	21	27
	0	16	16	16	16	16	3	3	3	4
	78	75	85	89	91	97	106	98	98	131
	0	0	0	0	0	0	0	0	118	111
Cash & Bank	3	5	3	3	4	32	2	1	7	40
	158	165	187	201	154	203	166	193	51	59
Total Assets	496	643	690	728	762	822	741	747	789	837
Total Debt	294	255	260	230	220	274	223	205	205	251
Net Working Capital	-137	-100	-94	-94	-130	-49	-53	-89	-51	-27
Contingent Liabilities	28	9	5	28	41	56	53	57	65	60
Book Value per Share	14.20	95.24	134.95	145.72	149.67	162.07	177.05	177.87	167.85	160.40
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00
Total Debt	294	255	260	230	220	274	223	205	205	251
Net Working Capital	-137	-100	-94	-94	-130	-49	-53	-89	-51	-27
Contingent Liabilities	28	9	5	28	41	56	53	57	65	60
Book Value per Share	14.20	95.24	134.95	145.72	149.67	162.07	177.05	177.87	167.85	160.40
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Mar 2016

Equity Capital: 22
: 9
: 120
Trade Payables: 101
: 243
Total Liabilities: 496
: 255
Capital Work in Progress: 2
: 0
: 78
: 0
Cash & Bank: 3
: 158
Total Assets: 496
Total Debt: 294
Net Working Capital: -137
Contingent Liabilities: 28
Book Value per Share: 14.20
Face Value: 10.00
Total Debt: 294
Net Working Capital: -137
Contingent Liabilities: 28
Book Value per Share: 14.20
Face Value: 10.00

Mar 2017

Equity Capital: 22
: 188
: 129
Trade Payables: 125
: 179
Total Liabilities: 643
: 373
Capital Work in Progress: 8
: 16
: 75
: 0
Cash & Bank: 5
: 165
Total Assets: 643
Total Debt: 255
Net Working Capital: -100
Contingent Liabilities: 9
Book Value per Share: 95.24
Face Value: 10.00
Total Debt: 255
Net Working Capital: -100
Contingent Liabilities: 9
Book Value per Share: 95.24
Face Value: 10.00

Mar 2018

Equity Capital: 22
: 276
: 152
Trade Payables: 113
: 126
Total Liabilities: 690
: 385
Capital Work in Progress: 14
: 16
: 85
: 0
Cash & Bank: 3
: 187
Total Assets: 690
Total Debt: 260
Net Working Capital: -94
Contingent Liabilities: 5
Book Value per Share: 134.95
Face Value: 10.00
Total Debt: 260
Net Working Capital: -94
Contingent Liabilities: 5
Book Value per Share: 134.95
Face Value: 10.00

Mar 2019

Equity Capital: 22
: 300
: 125
Trade Payables: 142
: 138
Total Liabilities: 728
: 406
Capital Work in Progress: 14
: 16
: 89
: 0
Cash & Bank: 3
: 201
Total Assets: 728
Total Debt: 230
Net Working Capital: -94
Contingent Liabilities: 28
Book Value per Share: 145.72
Face Value: 10.00
Total Debt: 230
Net Working Capital: -94
Contingent Liabilities: 28
Book Value per Share: 145.72
Face Value: 10.00

Mar 2020

Equity Capital: 22
: 309
: 101
Trade Payables: 147
: 183
Total Liabilities: 762
: 495
Capital Work in Progress: 1
: 16
: 91
: 0
Cash & Bank: 4
: 154
Total Assets: 762
Total Debt: 220
Net Working Capital: -130
Contingent Liabilities: 41
Book Value per Share: 149.67
Face Value: 10.00
Total Debt: 220
Net Working Capital: -130
Contingent Liabilities: 41
Book Value per Share: 149.67
Face Value: 10.00

Mar 2021

Equity Capital: 22
: 336
: 154
Trade Payables: 144
: 166
Total Liabilities: 822
: 471
Capital Work in Progress: 2
: 16
: 97
: 0
Cash & Bank: 32
: 203
Total Assets: 822
Total Debt: 274
Net Working Capital: -49
Contingent Liabilities: 56
Book Value per Share: 162.07
Face Value: 10.00
Total Debt: 274
Net Working Capital: -49
Contingent Liabilities: 56
Book Value per Share: 162.07
Face Value: 10.00

Mar 2022

Equity Capital: 22
: 369
: 140
Trade Payables: 96
: 113
Total Liabilities: 741
: 460
Capital Work in Progress: 4
: 3
: 106
: 0
Cash & Bank: 2
: 166
Total Assets: 741
Total Debt: 223
Net Working Capital: -53
Contingent Liabilities: 53
Book Value per Share: 177.05
Face Value: 10.00
Total Debt: 223
Net Working Capital: -53
Contingent Liabilities: 53
Book Value per Share: 177.05
Face Value: 10.00

Mar 2023

Equity Capital: 22
: 371
: 99
Trade Payables: 129
: 126
Total Liabilities: 747
: 436
Capital Work in Progress: 16
: 3
: 98
: 0
Cash & Bank: 1
: 193
Total Assets: 747
Total Debt: 205
Net Working Capital: -89
Contingent Liabilities: 57
Book Value per Share: 177.87
Face Value: 10.00
Total Debt: 205
Net Working Capital: -89
Contingent Liabilities: 57
Book Value per Share: 177.87
Face Value: 10.00

Mar 2024

Equity Capital: 22
: 349
: 106
Trade Payables: 130
: 182
Total Liabilities: 789
: 491
Capital Work in Progress: 21
: 3
: 98
: 118
Cash & Bank: 7
: 51
Total Assets: 789
Total Debt: 205
Net Working Capital: -51
Contingent Liabilities: 65
Book Value per Share: 167.85
Face Value: 10.00
Total Debt: 205
Net Working Capital: -51
Contingent Liabilities: 65
Book Value per Share: 167.85
Face Value: 10.00

Mar 2025

Equity Capital: 22
: 333
: 146
Trade Payables: 132
: 204
Total Liabilities: 837
: 466
Capital Work in Progress: 27
: 4
: 131
: 111
Cash & Bank: 40
: 59
Total Assets: 837
Total Debt: 251
Net Working Capital: -27
Contingent Liabilities: 60
Book Value per Share: 160.40
Face Value: 10.00
Total Debt: 251
Net Working Capital: -27
Contingent Liabilities: 60
Book Value per Share: 160.40
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	81	98	78	130	134	10	81	78	39	15
Cash from Investing	-14	-19	-45	-44	-72	-9	-29	-33	-82	-7
Cash from Financing	-67	-71	-49	-48	-65	31	-83	-9	40	-7
	-0	8	-15	38	-3	32	-32	36	-3	1
Free Cash Flow	68	98	32	80	30	7	51	75	-40	-2
OCF / Net Profit	5.18	2.73	0.77	2.85	6.31	0.36	2.31	91.70	-1.54	-0.90
Cumulative 5-Year FCF	0	0	0	0	308	247	200	243	123	90
OCF / Net Profit	5.18	2.73	0.77	2.85	6.31	0.36	2.31	91.70	-1.54	-0.90
Cumulative 5-Year FCF	0	0	0	0	308	247	200	243	123	90

Mar 2016

: 81
Cash from Investing: -14
Cash from Financing: -67
: -0
Free Cash Flow: 68
OCF / Net Profit: 5.18
Cumulative 5-Year FCF: 0
OCF / Net Profit: 5.18
Cumulative 5-Year FCF: 0

Mar 2017

: 98
Cash from Investing: -19
Cash from Financing: -71
: 8
Free Cash Flow: 98
OCF / Net Profit: 2.73
Cumulative 5-Year FCF: 0
OCF / Net Profit: 2.73
Cumulative 5-Year FCF: 0

Mar 2018

: 78
Cash from Investing: -45
Cash from Financing: -49
: -15
Free Cash Flow: 32
OCF / Net Profit: 0.77
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.77
Cumulative 5-Year FCF: 0

Mar 2019

: 130
Cash from Investing: -44
Cash from Financing: -48
: 38
Free Cash Flow: 80
OCF / Net Profit: 2.85
Cumulative 5-Year FCF: 0
OCF / Net Profit: 2.85
Cumulative 5-Year FCF: 0

Mar 2020

: 134
Cash from Investing: -72
Cash from Financing: -65
: -3
Free Cash Flow: 30
OCF / Net Profit: 6.31
Cumulative 5-Year FCF: 308
OCF / Net Profit: 6.31
Cumulative 5-Year FCF: 308

Mar 2021

: 10
Cash from Investing: -9
Cash from Financing: 31
: 32
Free Cash Flow: 7
OCF / Net Profit: 0.36
Cumulative 5-Year FCF: 247
OCF / Net Profit: 0.36
Cumulative 5-Year FCF: 247

Mar 2022

: 81
Cash from Investing: -29
Cash from Financing: -83
: -32
Free Cash Flow: 51
OCF / Net Profit: 2.31
Cumulative 5-Year FCF: 200
OCF / Net Profit: 2.31
Cumulative 5-Year FCF: 200

Mar 2023

: 78
Cash from Investing: -33
Cash from Financing: -9
: 36
Free Cash Flow: 75
OCF / Net Profit: 91.70
Cumulative 5-Year FCF: 243
OCF / Net Profit: 91.70
Cumulative 5-Year FCF: 243

Mar 2024

: 39
Cash from Investing: -82
Cash from Financing: 40
: -3
Free Cash Flow: -40
OCF / Net Profit: -1.54
Cumulative 5-Year FCF: 123
OCF / Net Profit: -1.54
Cumulative 5-Year FCF: 123

Mar 2025

: 15
Cash from Investing: -7
Cash from Financing: -7
: 1
Free Cash Flow: -2
OCF / Net Profit: -0.90
Cumulative 5-Year FCF: 90
OCF / Net Profit: -0.90
Cumulative 5-Year FCF: 90

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	7.04	16.22	45.77	20.72	9.56	13.05	15.78	0.39	-11.42	-7.36
Book Value (₹)	14.20	95.24	134.95	145.72	149.67	162.07	177.05	177.87	167.85	160.40
Dividend per Share (₹)	3.50	5.00	10.00	9.00	0.00	2.00	2.00	2.00	0.00	0.00
Cash EPS (₹)	22.19	31.45	59.18	34.48	27.43	31.34	34.45	17.58	3.67	11.14
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	10.54%	12.95%	15.25%	15.02%	13.84%	11.56%	13.22%	8.09%	5.35%	4.96%
Net Margin %	1.95%	4.10%	11.90%	5.27%	2.89%	4.20%	4.46%	0.10%	-3.49%	-2.03%
ROE %	31.97%	29.64%	39.77%	14.76%	6.48%	8.37%	9.30%	0.22%	-6.61%	-4.49%
ROCE %	14.27%	20.10%	19.55%	18.04%	11.18%	6.58%	9.97%	4.70%	2.65%	3.56%
	3.06%	6.30%	15.19%	6.46%	2.84%	3.64%	4.46%	0.11%	-3.29%	-2.00%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	49	45	51	54	54	57	54	48	60	52
Inventory Days	35	32	34	36	45	50	48	45	49	52
Payable Days	377	125	128	126	169	145	97	78	96	100
	-292	-48	-43	-36	-70	-38	4	15	14	5
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	9.36x	1.21x	0.87x	0.71x	0.67x	0.76x	0.57x	0.52x	0.55x	0.71x
Interest Coverage (x)	1.86x	2.82x	3.83x	3.69x	2.31x	1.39x	2.69x	1.29x	0.64x	0.71x
	0.62x	0.68x	0.71x	0.73x	0.60x	0.86x	0.81x	0.72x	0.82x	0.92x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	-1.91%	9.32%	3.70%	6.02%	-15.90%	-6.12%	13.92%	5.20%	-12.13%	10.94%
Operating Profit Growth %	-14.48%	34.67%	14.58%	0.71%	-22.51%	-21.56%	30.27%	-35.66%	-26.40%	26.54%
Net Profit Growth %	-36.58%	130.32%	182.25%	-54.74%	-53.83%	36.45%	20.88%	-97.56%	-3062.94%	35.55%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-3063.01%	35.55%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.86x	0.82x
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	10.57x	8.10x

Mar 2016

EPS (₹): 7.04
Book Value (₹): 14.20
Dividend per Share (₹): 3.50
Cash EPS (₹): 22.19
Operating Margin %: 10.54%
Net Margin %: 1.95%
ROE %: 31.97%
ROCE %: 14.27%
: 3.06%
Debtor Days: 49
Inventory Days: 35
Payable Days: 377
: -292
Debt to Equity (x): 9.36x
Interest Coverage (x): 1.86x
: 0.62x
Revenue Growth %: -1.91%
Operating Profit Growth %: -14.48%
Net Profit Growth %: -36.58%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2017

EPS (₹): 16.22
Book Value (₹): 95.24
Dividend per Share (₹): 5.00
Cash EPS (₹): 31.45
Operating Margin %: 12.95%
Net Margin %: 4.10%
ROE %: 29.64%
ROCE %: 20.10%
: 6.30%
Debtor Days: 45
Inventory Days: 32
Payable Days: 125
: -48
Debt to Equity (x): 1.21x
Interest Coverage (x): 2.82x
: 0.68x
Revenue Growth %: 9.32%
Operating Profit Growth %: 34.67%
Net Profit Growth %: 130.32%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 45.77
Book Value (₹): 134.95
Dividend per Share (₹): 10.00
Cash EPS (₹): 59.18
Operating Margin %: 15.25%
Net Margin %: 11.90%
ROE %: 39.77%
ROCE %: 19.55%
: 15.19%
Debtor Days: 51
Inventory Days: 34
Payable Days: 128
: -43
Debt to Equity (x): 0.87x
Interest Coverage (x): 3.83x
: 0.71x
Revenue Growth %: 3.70%
Operating Profit Growth %: 14.58%
Net Profit Growth %: 182.25%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 20.72
Book Value (₹): 145.72
Dividend per Share (₹): 9.00
Cash EPS (₹): 34.48
Operating Margin %: 15.02%
Net Margin %: 5.27%
ROE %: 14.76%
ROCE %: 18.04%
: 6.46%
Debtor Days: 54
Inventory Days: 36
Payable Days: 126
: -36
Debt to Equity (x): 0.71x
Interest Coverage (x): 3.69x
: 0.73x
Revenue Growth %: 6.02%
Operating Profit Growth %: 0.71%
Net Profit Growth %: -54.74%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 9.56
Book Value (₹): 149.67
Dividend per Share (₹): 0.00
Cash EPS (₹): 27.43
Operating Margin %: 13.84%
Net Margin %: 2.89%
ROE %: 6.48%
ROCE %: 11.18%
: 2.84%
Debtor Days: 54
Inventory Days: 45
Payable Days: 169
: -70
Debt to Equity (x): 0.67x
Interest Coverage (x): 2.31x
: 0.60x
Revenue Growth %: -15.90%
Operating Profit Growth %: -22.51%
Net Profit Growth %: -53.83%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 13.05
Book Value (₹): 162.07
Dividend per Share (₹): 2.00
Cash EPS (₹): 31.34
Operating Margin %: 11.56%
Net Margin %: 4.20%
ROE %: 8.37%
ROCE %: 6.58%
: 3.64%
Debtor Days: 57
Inventory Days: 50
Payable Days: 145
: -38
Debt to Equity (x): 0.76x
Interest Coverage (x): 1.39x
: 0.86x
Revenue Growth %: -6.12%
Operating Profit Growth %: -21.56%
Net Profit Growth %: 36.45%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 15.78
Book Value (₹): 177.05
Dividend per Share (₹): 2.00
Cash EPS (₹): 34.45
Operating Margin %: 13.22%
Net Margin %: 4.46%
ROE %: 9.30%
ROCE %: 9.97%
: 4.46%
Debtor Days: 54
Inventory Days: 48
Payable Days: 97
: 4
Debt to Equity (x): 0.57x
Interest Coverage (x): 2.69x
: 0.81x
Revenue Growth %: 13.92%
Operating Profit Growth %: 30.27%
Net Profit Growth %: 20.88%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 0.39
Book Value (₹): 177.87
Dividend per Share (₹): 2.00
Cash EPS (₹): 17.58
Operating Margin %: 8.09%
Net Margin %: 0.10%
ROE %: 0.22%
ROCE %: 4.70%
: 0.11%
Debtor Days: 48
Inventory Days: 45
Payable Days: 78
: 15
Debt to Equity (x): 0.52x
Interest Coverage (x): 1.29x
: 0.72x
Revenue Growth %: 5.20%
Operating Profit Growth %: -35.66%
Net Profit Growth %: -97.56%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): -11.42
Book Value (₹): 167.85
Dividend per Share (₹): 0.00
Cash EPS (₹): 3.67
Operating Margin %: 5.35%
Net Margin %: -3.49%
ROE %: -6.61%
ROCE %: 2.65%
: -3.29%
Debtor Days: 60
Inventory Days: 49
Payable Days: 96
: 14
Debt to Equity (x): 0.55x
Interest Coverage (x): 0.64x
: 0.82x
Revenue Growth %: -12.13%
Operating Profit Growth %: -26.40%
Net Profit Growth %: -3062.94%
: -3063.01%
P/E (x): 0.00x
P/B (x): 0.86x
Dividend Yield %: 0.00%
: 10.57x

Mar 2025

EPS (₹): -7.36
Book Value (₹): 160.40
Dividend per Share (₹): 0.00
Cash EPS (₹): 11.14
Operating Margin %: 4.96%
Net Margin %: -2.03%
ROE %: -4.49%
ROCE %: 3.56%
: -2.00%
Debtor Days: 52
Inventory Days: 52
Payable Days: 100
: 5
Debt to Equity (x): 0.71x
Interest Coverage (x): 0.71x
: 0.92x
Revenue Growth %: 10.94%
Operating Profit Growth %: 26.54%
Net Profit Growth %: 35.55%
: 35.55%
P/E (x): 0.00x
P/B (x): 0.82x
Dividend Yield %: 0.00%
: 8.10x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	70.28	70.28	70.28	70.28	70.28	70.28	70.28	70.28	70.28
	0.12	0.00	0.06	0.00	0.00	0.00	0.00	0.00	0.00
	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	29.59	29.71	29.66	29.71	29.71	29.71	29.71	29.71	29.71

Jun 2024

: 70.28
: 0.12
: 0.01
Government: 0.00
: 29.59

Sep 2024

: 70.28
: 0.00
: 0.01
Government: 0.00
: 29.71

Dec 2024

: 70.28
: 0.06
: 0.01
Government: 0.00
: 29.66

Mar 2025

: 70.28
: 0.00
: 0.01
Government: 0.00
: 29.71

Jun 2025

: 70.28
: 0.00
: 0.01
Government: 0.00
: 29.71

Sep 2025

: 70.28
: 0.00
: 0.01
Government: 0.00
: 29.71

Dec 2025

: 70.28
: 0.00
: 0.01
Government: 0.00
: 29.71

Mar 2026

: 70.28
: 0.00
: 0.01
Government: 0.00
: 29.71

Jun 2026

: 70.28
: 0.00
: 0.01
Government: 0.00
: 29.71

Documents

Announcements

Copy of Newspaper Publication
2026-08-14 - UCAL LIMITED has informed the Exchange about Copy of Newspaper Publication
Shareholders meeting
2026-08-14 - UCAL LIMITED has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.

Annual Reports

Credit Ratings

Nothing filed yet.

Concalls

Nothing filed yet.