N.K. Industries Ltd. (NKIND) AI Stock Analysis

N.K. Industries Ltd.

(NSE:NKIND)

Select Model

Rating:40Underperform

Price Target:INR 59.00▼(-4.48% Downside)

Action:downgraded

Date:10/23/26

The overall score is 40, driven primarily by severe financial weakness, including negative equity, ongoing losses, and negative free cash flow. Technical trends remain unfavorable, while the negative P/E provides no valuation support.

Positive Factors

Low absolute debtLow reported debt reduces direct interest and refinancing pressure compared with a heavily borrowed balance sheet. Although negative equity remains a major weakness, limited debt could preserve some flexibility if operations recover or the company undertakes recapitalization.

Negative Factors

Persistent unprofitabilityRepeated net losses and negative operating margins show that the current revenue base has not covered the cost structure over time. Persistent unprofitability erodes financial resilience, limits internally funded investment, and makes a durable earnings recovery dependent on substantial operational improvement.

N.K. Industries Ltd. (NKIND) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 354.58M
Dividend Yield: ―
Average Volume (3M): 2,360
Price to Earnings (P/E): -18.2
Beta (1Y): -0.06
Revenue Growth: -36.47%
EPS Growth: 64.36%
Country: India
Employees: 169
Sector: General
Sector Strength: 55
Industry: Household & Personal Products

N.K. Industries Ltd. Business Overview & Revenue Model

Company Description

N.K Industries Limited, an Ahmedabad, India-based entity established in 1987, specializes in the manufacturing, sale, and trade of castor oil and its various derivatives across India. The company's extensive product line features diverse castor oil g...

N.K. Industries Ltd. Financial Statement Overview

Summary

Financial performance is severely weak: revenue declined 16.5%, profitability remains negative, stockholders' equity is negative across all reported years, and free cash flow remains negative despite improved operating cash flow.

Income Statement

28Negative

Balance Sheet

18Very Negative

Cash Flow

22Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	110.64M	98.09M	168.06M	164.82M	177.75M	176.93M
Gross Profit	46.59M	53.42M	17.24M	94.92M	158.35M	96.90M
EBITDA	-10.35M	-43.10M	-10.69M	19.90M	17.05M	25.69M
Net Income	-35.85M	-36.23M	-35.53M	-10.30M	-18.61M	-15.26M
Balance Sheet
Total Assets	0	18.91B	18.93B	18.96B	18.97B	18.99B
Cash, Cash Equivalents and Short-Term Investments	23.15M	8.14M	18.97M	15.59M	14.99M	17.62M
Total Debt	0	9.85M	7.70M	7.70M	0	0
Total Liabilities	3.52B	22.42B	22.41B	22.40B	22.40B	22.40B
Stockholders Equity	-3.52B	-3.52B	-3.48B	-3.44B	-3.43B	-3.41B
Cash Flow
Free Cash Flow	-11.23M	-183.00K	-39.88M	-1.98M	-1.38M	-3.29M
Operating Cash Flow	-11.06M	2.69M	-30.16M	-1.02M	3.58M	12.52M
Investing Cash Flow	15.49M	-5.28M	22.43M	1.65M	-2.44M	-14.01M
Financing Cash Flow	-380.00K	2.15M	7.61M	-40.00K	-3.76M	-27.00K

N.K. Industries Ltd. Technical Analysis

Technical Analysis SentimentPositive

Last Price61.77

Price Trends

50DMA60.12Positive

100DMA58.78Positive

200DMA62.71Negative

Market Momentum

MACD-0.36Positive

RSI52.67Neutral

STOCH29.76Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NKIND, the sentiment is Positive. The current price of 61.77 is above the 20-day moving average (MA) of 60.16, above the 50-day MA of 60.12, and below the 200-day MA of 62.71, indicating a neutral trend. The MACD of -0.36 indicates Positive momentum. The RSI at 52.67 is Neutral, neither overbought nor oversold. The STOCH value of 29.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NKIND.

N.K. Industries Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:NKIND against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:BAJAJCON	77Outperform	INR 48.53B	19.50	―	―	28.55%	92.82%
IN:EMAMILTD	74Outperform	INR 158.00B	20.98	―	3.89%	2.82%	-8.52%
IN:BCLIND	68Neutral	INR 8.90B	7.63	―	1.16%	-10.85%	13.24%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:AMBICAAGAR	52Neutral	INR 402.47M	13.80	―	―	3.70%	574.64%
IN:SHK	51Neutral	INR 17.40B	19.49	―	1.59%	9.68%	-51.94%
IN:NKIND	40Underperform	INR 371.23M	-18.16	―	―	-36.47%	64.36%

* General Sector Average

Performance Comparison

IN:NKIND and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:NKIND	N.K. Industries Ltd.	61.77	-8.58	-12.20%
IN:AMBICAAGAR	Ambica Agarbathies & Aroma Industries Ltd.	23.43	-2.27	-8.83%
IN:BAJAJCON	Bajaj Consumer Care Limited	370.10	83.80	29.27%
IN:BCLIND	BCL Industries Ltd	30.16	-9.26	-23.49%
IN:EMAMILTD	Emami Limited	359.85	-163.49	-31.24%
IN:SHK	S H Kelkar and Company Ltd	125.70	-98.16	-43.85%

N.K. Industries Ltd. Corporate Events

N.K. Industries Publishes Notice for 38th AGM via Virtual Platform

Aug 25, 2026

N.K. Industries Ltd. has notified the stock exchanges that it has published a notice in the Financial Express, in both English and Gujarati, announcing its 38th Annual General Meeting. The AGM is scheduled for 23 September 2026 at 11:30 a.m. and will...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Oct 23, 2026

N.K. Industries Ltd. AI Stock Analysis