Nuvoco Vistas Corporation Limited (NUVOCO)

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Nuvoco Vistas Corporation Limited (NUVOCO) · mywealthgrid

About

Nuvoco Vistas manufactures cement and cement products with a ₹11,843 Cr market cap, dual-listed on BSE/NSE. Consolidated revenue (₹3,128.71 Cr, Jun 2026) exceeds standalone by 16%, indicating material subsidiary operations. Cement demand is cyclical and tied to infrastructure and construction investment across India.

Face value: ₹10

Market cap

₹11,505 Cr

P/E

29.8×

P/B

1.1×

Dividend yield

ROE

3.7%

ROCE

7.1%

Debt / equity

0.44

OPM

16.4%

EPS (TTM)

₹10.8

Book value

₹286.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

ROE of 3.74% is low — verify whether this reflects cement sector capital intensity or company-specific capital efficiency concerns

Net profit ranged ₹32.53 Cr to ₹159.63 Cr over 8 recent quarters — verify causes of this volatility and earnings sustainability

Operating margins range 13–18% across quarters with no clear trend — verify what drives margin fluctuations and if structural headwinds exist

Share price fell 22.88% YoY despite ₹11.8 Tr market cap — verify whether this reflects company-specific concerns or sector slowdown

Generated analysis · source review pending

Growth drivers

Consolidated revenue ₹3,128.71 Cr (Jun 2026) exceeds standalone ₹2,692.38 Cr by 16% — verify if subsidiaries operate in higher-growth or higher-margin segments

OPM reached 18.16% in Jun 2026 consolidated results, highest in the shown 8-quarter span — verify if operational improvements are sustainable

D/E of 0.44 provides debt headroom for a capital-intensive business — verify capex plans and capacity expansion strategy

Generated analysis · source review pending

1,260 historical price candles were omitted because the exchange source has not been verified.

₹322.1-2.5%1Y

Quick read

rule-based

Pros

+Profit CAGR of 183% over the last 3 years
+High promoter holding of 72% with no pledge

Cons

−Low return on equity of 1.9% (3-yr avg)
−Modest revenue growth of 8.6% a year over the last 5 years

Research score

Structured signal from quality, growth, valuation and momentum.

50/100

Business quality: 27
Growth: 57
Valuation: 68

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.

Part ofNIFTY SMALLCAP 250 NIFTY MIDSMALLCAP 400 NIFTY 500 NIFTY TOTAL MARKET

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Financials

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

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7,489	9,318	10,586	10,733	10,357	11,338
COGS	1,207	1,376	1,786	1,954	2,062	2,128
Gross profit	6,282	7,942	8,800	8,779	8,295	9,211
	4,822	6,445	7,590	7,155	6,923	7,354
	1,460	1,497	1,210	1,624	1,372	1,857
OPM %	19.5%	16.1%	11.4%	15.1%	13.3%	16.4%
Depreciation	794	918	951	919	869	884
Interest	664	570	512	533	496	398
	34	42	-393	33	19	-24
Profit before tax	37	51	-645	206	27	551
Tax	62	19	-661	59	5	191
Tax %	171.1%	37%	-102.5%	28.4%	17.6%	34.7%
	-26	32	16	147	22	360
PAT margin %	-0.4%	0.3%	0.2%	1.4%	0.2%	3.2%
EPS (₹)	-0.8	0.9	0.4	4.1	0.6	10.1
EPS adjusted (₹)	-0.8	0.9	0.4	4.1	0.5	10.1
Annual report	—	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	242	315	357	357	357	357	357
Reserves	—	7,009	8,464	8,482	8,626	8,645	9,872
	—	7,642	5,399	4,618	4,137	3,823	4,541
	—	4,942	5,395	5,531	5,589	5,333	5,529
Total equity & liabilities	—	19,907	19,615	18,988	18,710	18,158	20,299
	7,525	15,041	15,408	14,961	15,026	14,702	14,477
CWIP	—	1,236	399	594	471	383	2,474
Investments	—	385	187	1	2	2	2
	—	3,246	3,621	3,432	3,211	3,072	3,346
Total assets	—	19,907	19,615	18,988	18,710	18,158	20,299

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Cement	10,325.25	997.2	19,222.46	4,742.36	14,480.1	6.89
Ready Mix Concrete and Others	1,066.23	-24.32

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	83.9%	85.2%	83.1%	81.8%	80.1%	81.2%
EBITDA margin %	19.5%	16.1%	11.4%	15.1%	13.3%	16.4%
EBIT margin %	8.9%	6.2%	2.4%	6.6%	4.9%	8.6%
PAT margin %	-0.4%	0.3%	0.2%	1.4%	0.2%	3.2%
Working capital
Receivable days	22	22	21	20	23	24
Inventory days	215	283	215	177	135	128
Payable days	263	316	348	315	281	282
NWC days	-26	-11	-113	-118	-123	-130
Leverage
Current ratio	0.51	0.58	0.48	0.45	0.43	0.45
Debt to EBITDA	5.23	3.61	3.82	2.55	2.79	2.45
Debt to equity	1.04	0.61	0.52	0.46	0.42	0.44
Interest coverage	1.1	1.1	0.5	1.4	1.1	2.5
Asset turnover	0.38	0.48	0.56	0.57	0.57	0.56
Return ratios
Return on assets %	-0.1%	0.2%	0.1%	0.8%	0.1%	1.8%
Return on capital employed %	4.7%	4.1%	1.9%	5.4%	4%	7.1%
Return on equity %	-0.4%	0.4%	0.2%	1.6%	0.2%	3.5%

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
	71.79%	71.79%	72.02%	72.02%	72.02%	72.02%	72.02%	72.02%	72.02%	72.02%	72.02%	72.02%
	3.15%	3.05%	3.43%	3.5%	3.24%	3.37%	3.55%	3.82%	5.19%	5%	4.88%	4.71%
	19.95%	19.97%	18.6%	18.46%	18.86%	19.27%	19.37%	19.1%	18.1%	18.09%	18.34%	17.99%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	5.11%	5.19%	5.95%	6.02%	5.88%	5.34%	5.06%	5.06%	4.69%	4.89%	4.76%	5.28%
No. of shareholders	—	—	—	—	—	—	—	—	1,82,725	1,82,123	1,78,159	1,79,030

Promoter holding up 0.23 percentage points since Sep 2023.

24 deals · 25 Feb 2022 – 15 Jul 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
15 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	31,12,562	₹384.39	₹119.64 Cr
15 Jul 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	31,12,562	₹384.13	₹119.56 Cr
15 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Buy	21,85,826	₹382.17	₹83.54 Cr
15 Jul 2026	QE SECURITIES LLP	Bulk	NSE	Sell	21,76,076	₹381.39	₹82.99 Cr
15 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Sell	20,18,893	₹382.14	₹77.15 Cr
15 Jul 2026	JUNOMONETA FINSOL PRIVATE LIMITED	Bulk	NSE	Buy	20,18,044	₹381.93	₹77.08 Cr
17 Sept 2024	SBI MUTUAL FUND	Block	NSE	Buy	45,00,000	₹352.00	₹158.40 Cr
17 Sept 2024	KOTAK SPECIAL SITUATIONS FUND	Block	NSE	Sell	45,00,000	₹352.00	₹158.40 Cr
17 Sept 2024	SBI MUTUAL FUND	Bulk	NSE	Buy	45,00,000	₹352.00	₹158.40 Cr
17 Sept 2024	KOTAK SPECIAL SITUATIONS FUND	Bulk	NSE	Sell	45,00,000	₹352.00	₹158.40 Cr

1–10 of 24

1 / 3

Mr. HIREN KARSANBHAI PATELNon-Executive - Non Independent Director-Chairperson related to Promoter
Mr. KAUSHIKBHAI N PATELNon-Executive - Non Independent Director
Mrs. BHAVNA GAUTAM DOSHINon-Executive - Independent Director
Mr. ACHAL ANIL BAKERINon-Executive - Independent Director
Mr. SHISHIR BABUBHAI DESAINon-Executive - Independent Director
Mr. Maneesh AgrawalChief Financial Officer
Mr. JAYAKUMAR KRISHNASWAMYExecutive Director-MD
Ms. Shruta SanghaviCompany 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.

Portfolio month

Schemes holding

across 12 fund houses

Held by these funds

9.8%

of the company's equity

All mutual funds

17.44%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

43 schemes · 12 fund houses

		Shares
Contra Fund	SBI Mutual Fund	83.7 L	266.93	0.56%	2.343%	-0
Flexicap Fund	SBI Mutual Fund	78.29 L	249.67	1.07%	2.192%	-0
Large and Midcap Fund	SBI Mutual Fund	56.04 L	178.73	0.42%	1.569%	-0
Infrastructure Fund	ICICI Prudential Mutual Fund	29.59 L	94.37	1.1%	0.828%	-0
Small Cap FundNEW	ICICI Prudential Mutual Fund	25 L	79.73	0.81%	0.7%	—
INFRASTRUCTURE FUND	Tata Mutual Fund	12.88 L	41.06	2.03%	0.36%	-0
BUSINESS CYCLE FUND	Tata Mutual Fund	12.64 L	40.3	1.55%	0.354%	-0
Value Fund	Quantum Mutual Fund	9.8 L	31.26	2.79%	0.274%	-0

1–8 of 43

1 / 6

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Documents

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

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Jul 2026Transcript AI Summary PPTREC
Apr 2026Transcript AI Summary PPT

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

Board meeting to consider results22 Oct 2026 · in 21 daysresults

2

Board meeting to consider results22 Oct 2026
Board meeting to consider results13 Jul 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

127 announcementsExport CSV

16 Sept 2026, 4:07 pmCompany Update

Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation

Analyst / Investor Meet PDF

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Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	83.9%	85.2%	83.1%	81.8%	80.1%	81.2%
EBITDA margin %	19.5%	16.1%	11.4%	15.1%	13.3%	16.4%
EBIT margin %	8.9%	6.2%	2.4%	6.6%	4.9%	8.6%
PAT margin %	-0.4%	0.3%	0.2%	1.4%	0.2%	3.2%
Working capital
Receivable days	22	22	21	20	23	24
Inventory days	215	283	215	177	135	128
Payable days	263	316	348	315	281	282
NWC days	-26	-11	-113	-118	-123	-130
Leverage
Current ratio	0.51	0.58	0.48	0.45	0.43	0.45
Debt to EBITDA	5.23	3.61	3.82	2.55	2.79	2.45
Debt to equity	1.04	0.61	0.52	0.46	0.42	0.44
Interest coverage	1.1	1.1	0.5	1.4	1.1	2.5
Asset turnover	0.38	0.48	0.56	0.57	0.57	0.56
Return ratios
Return on assets %	-0.1%	0.2%	0.1%	0.8%	0.1%	1.8%
Return on capital employed %	4.7%	4.1%	1.9%	5.4%	4%	7.1%
Return on equity %	-0.4%	0.4%	0.2%	1.6%	0.2%	3.5%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Ambuja Cements LimitedAMBUJACEMAMBUJACEM	₹90,012 Cr	₹90,065 Cr	₹39,867 Cr	₹6,167 Cr	16.1%	₹4,377 Cr	13.9%	5.3%	8.4%	37
Shree Cement LimitedSHREECEMSHREECEM	₹79,059 Cr	₹80,653 Cr	₹21,896 Cr	₹4,577 Cr	22.1%	₹1,630 Cr	8.4%	10.6%	7.8%	227
Jk Cement LimitedJKCEMENTJKCEMENT	₹38,279 Cr	₹44,353 Cr	₹14,401 Cr	₹2,334 Cr	17.3%	₹946 Cr	7.2%	14.3%	15.1%	71
Dalmia Bharat LimitedDALBHARATDALBHARAT	₹31,556 Cr	₹38,308 Cr	₹15,058 Cr	₹3,005 Cr	20.8%	₹409 Cr	7.8%	7.4%	6.4%	5
Acc LimitedACCACC	₹22,213 Cr	₹22,213 Cr	₹25,369 Cr	₹2,629 Cr	11.4%	₹1,909 Cr	8.2%	10.8%	10.9%	32
The Ramco Cements LimitedRAMCOCEMRAMCOCEM	₹19,633 Cr	₹23,485 Cr	₹9,228 Cr	₹1,345 Cr	15.9%	₹645 Cr	7.7%	6.1%	9%	-0
Jsw Cement LimitedJSWCEMENTJSWCEMENT	₹15,216 Cr	₹19,297 Cr	₹6,849 Cr	₹1,216 Cr	19%	₹760 Cr	-12.3%	10.1%	-11.5%	-140
Nuvoco Vistas Corporation LimitedNUVOCONUVOCO	₹11,505 Cr	₹16,046 Cr	₹11,594 Cr	₹1,907 Cr	16.4%	₹386 Cr	3.2%	7.1%	3.7%	-130
The India Cements LimitedINDIACEMINDIACEM	₹9,147 Cr	₹10,452 Cr	₹4,479 Cr	₹469 Cr	8.8%	₹92 Cr	-1.5%	1.5%	-0.7%	-28
Star Cement LimitedSTARCEMENTSTARCEMENT	₹7,211 Cr	₹7,797 Cr	₹3,807 Cr	₹902 Cr	24.8%	₹370 Cr	10.3%	17%	13%	177
Birla Corporation LimitedBIRLACORPNBIRLACORPN	₹6,383 Cr	₹9,658 Cr	₹9,848 Cr	₹1,450 Cr	15.1%	₹554 Cr	5.8%	8.8%	7.8%	63
Jk Lakshmi Cement LimitedJKLAKSHMIJKLAKSHMI	₹5,915 Cr	₹8,406 Cr	₹6,926 Cr	₹958 Cr	15%	₹370 Cr	6.1%	12.1%	11.2%	57

Date	Category	Subject	Filing
16 Sept 2026, 4:07 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
16 Sept 2026, 4:04 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
2 Sept 2026, 6:12 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
2 Sept 2026, 6:08 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
2 Sept 2026, 6:04 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
2 Sept 2026, 5:58 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
1 Sept 2026, 4:54 pm	Company Update General	Announcement Under Regulation 30 (LODR)-ESG Rating	PDF
31 Aug 2026, 7:54 pm	AGM/EGM AGM	Summary Of The Proceedings Of The 27Th AGM Held On August 31, 2026	PDF

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,717	1,221	1,711	1,593	1,329	1,485
	-2,924	-190	-260	-573	-337	-2,500
	1,420	-1,420	-1,362	-1,114	-913	927
Net cash flow	213	-390	89	-95	79	-89
Free cash flow	1,166	810	1,225	1,011	978	775
CFO / Operating profit %	117.6%	81.6%	141.4%	98.1%	96.8%	80%

Nuvoco Vistas Corporation Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

1

2

Announcements

1

2

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Cement · revenue

Nuvoco Vistas Corporation Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Events

Upcoming and recent1

Board meetings2

Announcements

Upcoming and recent1

Board meetings2

Ratio timeline

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Quarterly record

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Cement · revenue

1

2

1

2