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Swing Capital

Nuvoco Vistas Corporation Ltd

NSE: NUVOCO BSE: 543334Cement

Nuvoco Vista Corporation Ltd (NVCL), is one of the largest cement companies and concrete manufacturers in India with a consolidated capacity of 25 MMTPA. It offers a diversified range of products such as cement, Ready-mix Concrete (RMX), and modern building materials i.e. adhesives, wall putty, dry plaster, cover blocks, and more.[1]

₹314
52W: ₹276 — ₹478
PE 41.3 · Book ₹264 · +19% vs book
Market Cap₹11,197 Cr
Stock P/E41.3Price to Earnings
ROCE6.4%Return on Capital
ROE2.91%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Stock is trading at 1.22 times its book value

Weaknesses

  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −The company has delivered a poor sales growth of 11.0% over past five years.
  • −Company has a low return on equity of 1.67% over last 3 years.

Shareholding Pattern

Promoters72.02%
FIIs4.88%
DIIs18.35%
Public4.75%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters72.02%72.02%72.02%72.02%72.02%72.02%72.02%72.02%
FIIs3.5%3.24%▼0.33.37%▲0.13.55%▲0.23.82%▲0.35.19%▲1.45%▼0.24.88%▼0.1
DIIs18.46%18.86%▲0.419.26%▲0.419.37%▲0.119.1%▼0.318.09%▼1.018.09%18.35%▲0.3
Public6.03%5.88%▼0.25.34%▼0.55.06%▼0.35.06%4.69%▼0.44.9%▲0.24.75%▼0.2

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales1,9962,4932,2021,9712,0172,5342,4042,1432,3782,836
Expenses1,7252,1481,9291,8051,8362,1532,0531,8632,0562,442
Operating Profit271345273166181381352280322394
OPM %14%14%12%8%9%15%15%13%14%14%
Net Profit308422-53-4411691335680
EPS ₹0.852.370.61-1.47-1.243.232.550.911.572.24

AI Insights

Revenue Trend

Mar 2026 revenue at ₹9,762Cr, up 11.9% YoY. OPM at 14%.

Debt Position

Borrowings at ₹3,892Cr. Debt-to-equity ratio: 0.43x. Healthy balance sheet.

Capex Cycle

CWIP at ₹92Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 18.35% (-2.25pp change). FIIs: 4.88% (+2.12pp change). Promoters hold 72.02%.

Margin & Efficiency

ROCE improving from 0% (Mar 2014) to 6% (Mar 2026). Working capital days: -81.

Valuation

PE 41.3x with 6.4% ROCE. Price is 19% above book value of ₹264. Dividend yield: 0%.

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