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NOCIL Limited
(NOCIL)
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Rating:64Neutral
Price Target:
₹147.00
▼(-11.02% Downside)
Action:Reiterated
Date:09/25/26
The score is supported by a very strong, low-debt balance sheet and improving (but still uneven) cash flow, alongside constructive technical trends. These positives are offset by weakening recent profitability and a stretched valuation (high P/E with low dividend yield).
Positive Factors
Very Low Leverage
Debt-to-equity of about 0.45% and equity of roughly 17.7B against 21.1B of assets indicate substantial balance-sheet resilience. This limits financial strain through industry downcycles and preserves capacity to fund investment without relying heavily on borrowing.
Negative Factors
Declining Revenue
Revenue declined in each of the last three annual periods from 2024 through 2026, showing that recent scale has contracted rather than expanded. Persistent top-line weakness can reduce operating leverage, constrain reinvestment, and make recovery dependent on durable improvement in customer demand or product economics.
Read all positive and negative factors
Positive Factors
Negative Factors
Very Low Leverage
Debt-to-equity of about 0.45% and equity of roughly 17.7B against 21.1B of assets indicate substantial balance-sheet resilience. This limits financial strain through industry downcycles and preserves capacity to fund investment without relying heavily on borrowing.
Read all positive factors
NOCIL Limited (NOCIL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹22.92B
Dividend Yield1.09%
Average Volume (3M)53.15K
Price to Earnings (P/E)34.6
Beta (1Y)1.05
Revenue Growth0.96%
EPS Growth-28.98%
CountryIN
Employees769
SectorGeneral
Sector StrengthN/A
IndustryChemicals - Specialty
Share Statistics
EPS (TTM)3.96
Shares Outstanding167,024,930
10 Day Avg. Volume26,668
30 Day Avg. Volume53,153
Financial Highlights & Ratios
PEG Ratio-1.00
Price to Book (P/B)1.45
Price to Sales (P/S)1.97
P/FCF Ratio28.97
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹179.00Price Target Upside8.35% Upside
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)5.08
Revenue Forecast (FY)₹15.18B
NOCIL Limited Business Overview & Revenue Model
Company Description
NOCIL Limited is a prominent manufacturer and supplier of specialized chemicals catering to India's tire and broader rubber processing sectors. The company's extensive product range includes various additives like vulcanization accelerators, anti-...
How the Company Makes Money
NOCIL makes money primarily by manufacturing and selling rubber chemicals (specialty additives) to customers that compound rubber for tires and other rubber goods. Its core revenue model is product sales: (1) Rubber accelerators: chemicals sold to...
NOCIL Limited Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
86
Very Positive
Cash Flow
63
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.70B | 13.03B | 13.93B | 14.37B | 16.17B | 15.61B |
| Gross Profit | 4.54B | 3.88B | 5.95B | 5.88B | 7.29B | 7.02B |
| EBITDA | 1.46B | 1.01B | 1.37B | 2.34B | 2.59B | 2.89B |
| Net Income | 661.30M | 556.30M | 1.03B | 1.33B | 1.49B | 1.76B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 21.11B | 20.57B | 20.15B | 18.57B | 18.30B |
| Cash, Cash Equivalents and Short-Term Investments | 3.39B | 3.42B | 2.73B | 3.73B | 2.30B | 297.80M |
| Total Debt | 0.00 | 80.40M | 103.00M | 131.30M | 97.90M | 55.20M |
| Total Liabilities | -17.73B | 3.37B | 2.95B | 3.17B | 3.05B | 3.85B |
| Stockholders Equity | 17.73B | 17.73B | 17.62B | 16.99B | 15.52B | 14.45B |
Cash Flow | ||||||
| Free Cash Flow | 325.20M | 885.70M | -969.90M | 1.66B | 2.52B | -664.40M |
| Operating Cash Flow | 1.36B | 2.62B | 255.60M | 2.01B | 2.82B | -302.20M |
| Investing Cash Flow | -1.05B | -2.22B | -369.50M | -773.60M | -2.17B | 311.60M |
| Financing Cash Flow | -358.90M | -379.30M | -502.10M | -553.00M | -537.70M | -336.00M |
NOCIL Limited Technical Analysis
Negative
165.20
Price Trends
169.92
Negative
168.96
Negative
161.47
Negative
Market Momentum
-8.77
Positive
25.61
Positive
11.46
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NOCIL, the sentiment is Negative. The current price of 165.2 is above the 20-day moving average (MA) of 158.06, below the 50-day MA of 169.92, and above the 200-day MA of 161.47, indicating a bearish trend. The MACD of -8.77 indicates Positive momentum. The RSI at 25.61 is Positive, neither overbought nor oversold. The STOCH value of 11.46 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NOCIL.
NOCIL Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | ₹23.22B | 10.33 | ― | 4.35% | 12.88% | 21.27% | |
68 Neutral | ₹19.42B | 27.03 | ― | 0.35% | 15.65% | 7.88% | |
68 Neutral | ₹44.45B | 10.76 | ― | 0.77% | 26.14% | 223.49% | |
64 Neutral | ₹22.92B | 34.63 | ― | 1.09% | 0.96% | -28.98% | |
62 Neutral | ₹35.17B | 0.56 | ― | 0.10% | 10.71% | 2756.39% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹30.30B | 24.87 | ― | 0.50% | 48.57% | 57.30% |
* General Sector Average
IN:NOCIL
NOCIL Limited
137.20
-46.19
-25.19%
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IN:POCL
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397.20
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-27.26%
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Shree Pushkar Chemicals & Fertilisers Ltd.
600.65
202.63
50.91%
IN:SOTL
Savita Oil Technologies Limited
648.35
257.21
65.76%
IN:VEEDOL
Veedol Corp. Ltd
1,332.55
-363.18
-21.42%
NOCIL Limited Corporate Events
NOCIL Uploads Investor Call Recording to Enhance Market Disclosure
Oct 30, 2026
NOCIL Limited has announced that the audio recording of its recent investors and analysts conference call discussing operational and financial performance for the quarter and half year ended 30 September 2026 has been uploaded to the company’...
NOCIL Appoints Deloitte as New Statutory Auditor for Five-Year Term
Sep 1, 2026
NOCIL Limited has approved the appointment of Deloitte Haskins Sells Chartered Accountants LLP as its new statutory auditor for a five-year term, starting after the company’s 65th annual general meeting scheduled for July-August 2027 and ru...
NOCIL Shareholders Approve 2025-26 Accounts at Fully Digital AGM
Aug 3, 2026
NOCIL Limited held its 64th Annual General Meeting on August 3, 2026 via video conferencing, with the registered office in Mumbai deemed as the venue. The company partnered with NSDL to provide remote e-voting, live e-voting during the AGM, and vi...
NOCIL Strengthens Board with New Independent Directors and Chairman’s Reappointment
Aug 3, 2026
NOCIL Limited’s shareholders have approved the appointment of two new independent directors, Sanjiv Lal and Sabyaschi Patnaik, each for a five-year term beginning 7 May 2026 and ending 6 May 2031. The company also secured shareholder approva...
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.