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NCL Research & Financial Services Ltd (NCLRESE) · mywealthgrid

About

NCL Research & Financial Services Ltd operates in Non Banking Financial Company (NBFC) within the Financials sector.

Face value: ₹1

Market cap

₹77 Cr

P/E

694.3×

P/B

0.7×

Dividend yield

ROE

1.4%

ROCE

1.7%

Debt / equity

—

OPM

10%

EPS (TTM)

₹0.0

Book value

₹1.1

52-week high

₹0.9

52-week low

₹0.4

₹0.7+16.1%1Y

Beta

0.86

Moves with the index

Volatility (1y)

49%

Annualised, daily returns

RSI (14)

56.3

Neither overbought nor oversold

Rel. strength (1y)

7.4%

Ahead of the market

Beta is measured against NIFTY 50 over three years of weekly returns — 1 moves with the index, above 1 amplifies it, below 1 damps it.

Quick read

rule-based

Pros

+Profit CAGR of 93.1% over the last 5 years
+Revenue CAGR of 30.8% over the last 5 years

Cons

−Low return on equity of 1.2% (3-yr avg)
−Expensive at 694.3× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

54/100

Business quality: 6
Growth: 100
Valuation: 33
Momentum

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Shriram Finance LimitedSHRIRAMFINSHRIRAMFIN	₹1,77,811 Cr	₹4,28,503 Cr	₹49,997 Cr	₹36,981 Cr	73.7%	₹11,318 Cr	20.8%	—	16.4%	—
Tata Capital LimitedTATACAPTATACAP	₹1,35,540 Cr	₹3,71,517 Cr	₹32,695 Cr	₹24,219 Cr	73.2%	₹5,404 Cr	15.5%	—	13.3%	—
Cholamandalam Investment And Finance Company LimitedCHOLAFINCHOLAFIN	₹1,33,352 Cr	₹3,45,452 Cr	₹32,663 Cr	₹22,399 Cr	68.2%	₹5,751 Cr	16.8%	—	19.3%	—
Muthoot Finance LimitedMUTHOOTFINMUTHOOTFIN	₹1,08,289 Cr	₹2,60,075 Cr	₹33,431 Cr	₹27,558 Cr	81.4%	₹11,373 Cr	34%	—	30.9%	—
L&T Finance LimitedLTFLTF	₹66,238 Cr	₹1,76,126 Cr	₹18,928 Cr	₹11,603 Cr	61.1%	₹3,226 Cr	16.7%	—	11.2%	—
Sbi Cards And Payment Services LimitedSBICARDSBICARD	₹53,594 Cr	₹97,658 Cr	₹20,063 Cr	₹5,374 Cr	26.7%	₹2,275 Cr	10.9%	—	14.7%	—
Hdb Financial Services LimitedHDBFSHDBFS	₹51,335 Cr	₹1,38,733 Cr	₹16,300 Cr	₹9,318 Cr	57.2%	₹2,176 Cr	13.4%	—	14.7%	—
Sundaram Finance LimitedSUNDARMFINSUNDARMFIN	₹48,838 Cr	₹1,18,475 Cr	₹10,104 Cr	₹7,957 Cr	78.3%	₹2,220 Cr	21%	—	14.7%	—
Piramal Finance LimitedPIRAMALFINPIRAMALFIN	₹45,868 Cr	₹1,25,857 Cr	₹11,852 Cr	₹7,051 Cr	59.5%	₹1,504 Cr	12.7%	—	5.3%	—
Authum Investment & Infrastructure LimitedAIILAIIL	₹45,797 Cr	₹49,133 Cr	₹2,863 Cr	₹2,451 Cr	88.2%	₹3,582 Cr	74%	—	13.1%	—
Mahindra & Mahindra Financial Services LimitedM&MFINM&MFIN	₹44,445 Cr	₹1,72,816 Cr	₹21,733 Cr	₹13,785 Cr	62.5%	₹3,253 Cr	13.6%	—	11.9%	—
Poonawalla Fincorp LimitedPOONAWALLAPOONAWALLA	₹38,161 Cr	₹86,259 Cr	₹7,813 Cr	₹4,291 Cr	52.7%	₹787 Cr	8%	—	5.9%	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	5	7	3	3	2	2	4	11
Interest	—	—	—	—	0	0	0	0
Expenses	4	7	3	3	2	1	3	10
Financing profit	—	—	—	—	-0	1	1	1
Financing margin %	—	—	—	—	-21.1%	54.3%	17.3%	10%
Other income	—	—	—	—	0	0	0	1
Depreciation	0	—	—	0	0	0	0	0
Profit before tax	0	-0	0	0	0	1	1	2
Tax	—	—	—	—	0	0	0	0
Tax %	—	—	—	—	0%	1.9%	25%	19.1%
PAT	0	-0	0	0	0	1	1	2
EPS (₹)	0.5	0	0	0	0.1	0	0	0
EPS adjusted (₹)	—	—	—	—	0	0	0	0
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity capital	29	58	107	107	107
Reserves	33	5	17	4	6
Minority interest	—	—	0	0	—
	0	1	0	0	—
	0	0	5	2	10
Total equity & liabilities	62	64	129	113	122
	0	0	0	0	—
CWIP	—	—	—	—	—
Investments	12	15	40	20	3
	50	49	89	93	120
Total assets	62	64	129	113	122

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	2	4	-24	-20	-17
Cash from investing	-2	-3	-25	20	17
Cash from financing	0	-0	49	-0	0
Net cash flow	-0	0	-0	0	-1
Free cash flow	—	—	—	—	—
CFO / Operating profit %	—	383.3%	—	—	—

Compounded sales growth

7 years: 13%
5 years: 31%

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Margins
Gross margin %	—	—	—	—	77%	—	63.6%	36.8%
EBITDA margin %	3.6%	-1.1%	3.6%	3.9%	-21.1%	54.3%	20.2%	10%
EBIT margin %	2.4%	-1.1%	3.6%	3.9%	-21.1%	51.6%	18.9%	9.6%
PAT margin %	3.9%	-0.7%	2.2%	3.3%	0.7%	55.3%	16%	15.1%
Working capital
Receivable days	—	—	—	—	423	353	221	65
Inventory days	—	—	—	—	1,095	866	179	71
Payable days	—	—	—	—	0	0	0	0
NWC days	—	—	—	—	1,518	1,219	400	136
Leverage
Current ratio	—	—	—	—	388.19	63.44	186.7	51.83
Debt to EBITDA	—	—	—	—	—	0.98	0	0
Debt to equity	—	—	—	—	0	0.02	0	0
Interest coverage	—	—	—	—	—	—	8.3	—
Asset turnover	—	—	—	—	0.02	0.03	0.03	0.09
Return ratios
Return on assets %	—	—	—	—	0%	1.6%	0.5%	1.4%
Return on capital employed %	—	—	—	—	0%	1.7%	0.9%	1.7%
Return on equity %	—	—	—	—	0%	1.7%	0.5%	1.5%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoter	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%	100%
No. of shareholders	—	—	—	—	—	—	—	—	4,44,180	4,35,475	4,26,851	4,26,662

Promoter holding up 0 percentage points since Sep 2023.

334 deals · 1 Oct 2021 – 8 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
8 Sept 2026	ORCHARD ROAD PROPERTIES PRIVATE LIMITED	Bulk	BSE	Buy	67,15,411	₹0.70	₹0.47 Cr
24 Jul 2026	K LAL AND SONS HUF	Bulk	BSE	Buy	55,66,281	₹0.85	₹0.47 Cr
23 Jul 2026	K LAL AND SONS HUF	Bulk	BSE	Buy	63,41,178	₹0.80	₹0.51 Cr
21 Jul 2026	VIJAY KUMAR AGGARWAL	Bulk	BSE	Buy	1,37,37,149	₹0.72	₹0.99 Cr
16 Jul 2026	VALLIYAPPANLAKSHMANAN	Bulk	BSE	Sell	1,37,52,000	₹0.54	₹0.74 Cr
16 Jul 2026	RITU PATWARI	Bulk	BSE	Buy	53,84,010	₹0.54	₹0.29 Cr
2 Sept 2024	ISHAAN TRADEFIN LLP	Bulk	BSE	Sell	53,73,920	₹0.86	₹0.46 Cr
23 Jul 2024	TOPGAIN FINANCE PRIVATE LIMITED	Bulk	BSE	Sell	77,22,454	₹0.94	₹0.73 Cr
23 Jul 2024	TOPGAIN FINANCE PRIVATE LIMITED	Bulk	BSE	Buy	3,00,000	₹0.95	₹0.03 Cr
22 Jul 2024	TOPGAIN FINANCE PRIVATE LIMITED	Bulk	BSE	Buy	77,22,454	₹0.83	₹0.64 Cr

1–10 of 334

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Mr. Goutam BoseExecutive Director-Chairperson-CEO-MD
Ms. Rajeswari BangalNon-Executive - Independent Director
Mrs. Swagata DasguptaNon-Executive - Independent Director
Mrs. Sudipta BhattacharyaNon-Executive - Independent Director
Mr. Pravin Pandurang TalwalkarChief Financial Officer
Ms. Haimonti DasNon-Executive - Independent Director
Ms. Priya MittalCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in NCL Research & Financial Services Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Dividend dividend4 Sept 2014 · ex-date₹0.5

1

Board meeting to consider results11 Aug 2026

2

Face value ₹2 → ₹12 Dec 2021 · ex-date
Face value ₹10 → ₹217 Nov 2014 · ex-date

1–3 of 5

1 / 2

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

23 announcementsExport CSV

29 Sept 2026, 3:19 pmAGM/EGM

Shareholders Meeting - Submission Of Voting Results

AGM PDF

29 Sept 2026, 3:17 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

29 Sept 2026, 3:15 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

29 Sept 2026, 3:14 pmOthers

Compliance-57 (4) : Prior intimation to the beginning of the quarter

57 (4) : Prior intimation to the beginning of the quarter PDF

29 Sept 2026, 3:13 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

7 Sept 2026, 1:27 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

4 Sept 2026, 6:01 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

4 Sept 2026, 5:58 pmCorp. Action

Corporate Action - Fixes Book Closure For AGM

Book Closure PDF

Date	Category	Subject	Filing
29 Sept 2026, 3:19 pm	AGM/EGM AGM	Shareholders Meeting - Submission Of Voting Results	PDF
29 Sept 2026, 3:17 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF

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NCL Research & Financial Services Ltd

NCL Research & Financial Services Ltd

About

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Compounded sales growth

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

1

1

2

Announcements

No fund holdings on record

Not in the F&O segment

1

1

2

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Stock price CAGR

Return on equity

NCL Research & Financial Services Ltd

NCL Research & Financial Services Ltd

About

Risk & technicals

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Dividends1

Board meetings1

Stock splits2

Announcements

No fund holdings on record

Not in the F&O segment

Dividends1

Board meetings1

Stock splits2

Ratio timeline

Announcements

Annual reports

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Stock price CAGR

Return on equity

1

1

2

1

1

2