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Last Updated: April 2, 2026, 3:25 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 500730 | NSE: NOCIL

NOCIL Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹221.79Undervalued by 35.24%vs CMP ₹164.00

P/E (43.5) × ROE (5.9%) × BV (₹106.00) × DY (1.22%)

₹98.89Overvalued by 39.70%vs CMP ₹164.00
MoS: -65.8% (Negative)Confidence: 63/100 (Moderate)Models: 1 Fair, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹178.3122%Fair (+8.7%)
Graham NumberEarnings₹92.0116%Over (-43.9%)
Earnings PowerEarnings₹64.7813%Over (-60.5%)
DCFCash Flow₹34.3613%Over (-79%)
Net Asset ValueAssets₹106.237%Over (-35.2%)
EV/EBITDAEnterprise₹114.039%Over (-30.5%)
Earnings YieldEarnings₹35.507%Over (-78.4%)
ROCE CapitalReturns₹68.427%Over (-58.3%)
Revenue MultipleRevenue₹125.345%Over (-23.6%)
Consensus (9 models)₹98.89100%Overvalued
Key Drivers: EPS CAGR -19.6% drags value — could be higher if earnings stabilize. | Wide model spread (₹34–₹178) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: -19.6%

*Investments are subject to market risks

Investment Snapshot

39
NOCIL Ltd scores 39/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health62/100 · Moderate
ROCE 6.7% WeakROE 5.9% WeakD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -3.68% (6mo) SellingDII holding up 1.17% MF buyingPromoter holding at 33.8% Stable
Earnings Quality30/100 · Weak
OPM contracting (17% → 12%) DecliningWorking capital: 194 days Capital intensive
Quarterly Momentum25/100 · Weak
Revenue (4Q): -7% YoY DecliningProfit (4Q): -52% YoY Declining
Industry Rank20/100 · Weak
P/E 43.5 vs industry 50.1 In-lineROCE 6.7% vs industry 14.6% Below peersROE 5.9% vs industry 13.1% Below peers3Y sales CAGR: -4% Shrinking

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 3:25 am

Market Cap 2,734 Cr.
Current Price 164
Intrinsic Value₹98.89
High / Low 211/125
Stock P/E43.5
Book Value 106
Dividend Yield1.22 %
ROCE6.65 %
ROE5.94 %
Face Value 10.0
PEG Ratio-2.22

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for NOCIL Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
NOCIL Ltd 2,734 Cr. 164 211/12543.5 1061.22 %6.65 %5.94 % 10.0
Bhansali Engineering Polymers Ltd 2,146 Cr. 86.2 124/74.212.8 41.74.64 %25.4 %18.7 % 1.00
Manali Petrochemicals Ltd 718 Cr. 41.8 81.1/39.110.7 66.41.20 %4.66 %2.92 % 5.00
Kothari Petrochemicals Ltd 615 Cr. 105 192/94.88.52 57.10.96 %30.0 %23.8 % 10.0
Sheela Foam Ltd 5,282 Cr. 486 770/45755.8 2830.00 %3.52 %2.02 % 5.00
Industry Average3,209.50 Cr162.2550.1381.420.95%14.57%13.10%7.55

All Competitor Stocks of NOCIL Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 325.72392.72396.67350.88340.62356.50372.17362.70318.13339.69336.22320.56315.84
Expenses 288.14342.99340.84305.59291.77311.88331.12324.90294.10305.49305.64298.24289.02
Operating Profit 37.5849.7355.8345.2948.8544.6241.0537.8024.0334.2030.5822.3226.82
OPM % 11.54%12.66%14.07%12.91%14.34%12.52%11.03%10.42%7.55%10.07%9.10%6.96%8.49%
Other Income 2.212.944.644.635.8324.719.348.419.085.626.6010.180.81
Interest 0.310.270.380.320.500.420.460.530.450.360.370.350.34
Depreciation 14.1713.8712.9313.0713.4913.3113.1713.3513.5713.4913.6713.6313.88
Profit before tax 25.3138.5347.1636.5340.6955.6036.7632.3319.0925.9723.1418.5213.41
Tax % 26.43%26.50%27.27%25.65%26.27%25.29%26.39%-30.31%32.43%19.95%25.41%34.56%31.02%
Net Profit 18.6228.3234.3027.1630.0041.5427.0642.1312.9020.7917.2612.129.25
EPS in Rs 1.121.702.061.631.802.491.622.520.771.241.030.730.55

Last Updated: March 3, 2026, 4:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 5:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 5967197157429641,0438469251,5711,6171,4451,3931,312
Expenses 5346055755826957506687931,2841,3641,2501,2551,198
Operating Profit 62114140160269293178132288253195137114
OPM % 10%16%20%22%28%28%21%14%18%16%14%10%9%
Other Income 9339111091426393223
Interest 171792111111221
Depreciation 19141520242434374856535455
Profit before tax 358611914725527815210724120218011481
Tax % 32%34%34%34%33%33%14%17%27%26%26%10%
Net Profit 245778971701851318817614913310359
EPS in Rs 1.483.554.875.9410.3311.177.895.3210.578.957.986.163.55
Dividend Payout % 40%28%25%30%24%22%32%38%28%34%38%32%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)137.50%36.84%24.36%75.26%8.82%-29.19%-32.82%100.00%-15.34%-10.74%-22.56%
Change in YoY Net Profit Growth (%)0.00%-100.66%-12.48%50.90%-66.43%-38.01%-3.64%132.82%-115.34%4.60%-11.82%

NOCIL Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:10%
3 Years:-4%
TTM:-4%
Compounded Profit Growth
10 Years:6%
5 Years:-4%
3 Years:-16%
TTM:-26%
Stock Price CAGR
10 Years:17%
5 Years:8%
3 Years:-13%
1 Year:-37%
Return on Equity
10 Years:11%
5 Years:8%
3 Years:8%
Last Year:6%

Last Updated: September 5, 2025, 11:45 am

Balance Sheet

Last Updated: January 7, 2026, 4:09 pm

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 161161161164164165166166167167167167167
Reserves 2172543097508829981,0201,1191,2791,3851,5321,5951,604
Borrowings 1521472615507661013109
Other Liabilities 203193186233279279250324380295304284291
Total Liabilities 7327556821,1611,3311,4421,4421,6151,8301,8572,0152,0572,072
Fixed Assets 320311307543528657797918909888870855834
CWIP 33644213115614891660176
Investments 222222176281130546853218399366408
Other Assets 386418347438480524434614859742730776654
Total Assets 7327556821,1611,3311,4421,4421,6151,8301,8572,0152,0572,072

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 443017014210216417994-3028220126
Cash from Investing Activity + -18-5-12-11-141-101-106-5831-217-77-37
Cash from Financing Activity + -23-33-151-31-43-50-1010-34-54-55-50
Net Cash Flow 3-88101-8213-2835-331168-62
Free Cash Flow 162115612955-73-067-66253184-95
CFO/OP 77%43%144%117%68%86%129%71%10%131%124%44%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-90.00-33.00114.00145.00264.00293.00171.00126.00282.00243.00182.00127.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 90857782928188122104788681
Inventory Days 167176135116129133128120141117100129
Days Payable 12279748296778412391525354
Cash Conversion Cycle 136182138116125138132119154143133156
Working Capital Days 577186869499104114128108110194
ROCE %10%19%24%21%26%25%13%9%18%13%10%7%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 33.84%33.84%33.84%33.84%33.84%33.84%33.78%33.78%33.76%33.76%33.76%33.76%
FIIs 5.39%5.44%6.36%6.98%7.77%7.77%7.92%7.82%8.15%6.65%5.16%4.47%
DIIs 5.49%4.68%3.61%2.83%3.51%4.44%6.13%5.93%5.33%5.20%6.57%6.50%
Public 55.27%56.04%56.19%56.36%54.87%53.95%52.18%52.47%52.76%54.39%54.52%55.27%
No. of Shareholders 1,77,8691,79,4951,81,1901,76,3471,71,4961,67,1571,66,6271,63,8991,61,8251,65,6481,64,8171,62,167

Shareholding Pattern Chart

No. of Shareholders

NOCIL Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
ICICI Prudential Multicap Fund 1,578,331 0.13 20.88N/AN/AN/A
ICICI Prudential Manufacturing Fund 1,376,260 0.29 18.21N/AN/AN/A
ICICI Prudential Smallcap Fund 1,100,000 0.18 14.55N/AN/AN/A
Canara Robeco Manufacturing Fund 948,605 0.83 12.55453,7362025-12-08 07:49:24109.07%
Canara Robeco Manufacturing Fund 948,605 0.83 12.55453,7362025-12-08 07:49:24109.07%
Aditya Birla Sun Life Business Cycle Fund 900,000 0.69 11.91841,5122025-12-08 01:14:196.95%
ICICI Prudential Commodities Fund 728,541 0.27 9.64N/AN/AN/A
Mahindra Manulife Manufacturing Fund 550,000 1.06 7.28N/AN/AN/A
ICICI Prudential Retirement Fund - Pure Equity 483,825 0.39 6.4N/AN/AN/A
Aditya Birla Sun Life Manufacturing Equity Fund 448,509 0.56 5.93286,6522025-12-08 07:49:2456.46%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 6.177.988.9510.585.33
Diluted EPS (Rs.) 6.157.958.9210.555.32
Cash EPS (Rs.) 9.3711.1512.2913.477.57
Book Value[Excl.RevalReserv]/Share (Rs.) 105.51101.9293.1486.7677.29
Book Value[Incl.RevalReserv]/Share (Rs.) 105.51101.9293.1486.7677.29
Revenue From Operations / Share (Rs.) 83.3886.6997.0194.3355.63
PBDIT / Share (Rs.) 10.1514.0715.5417.418.76
PBIT / Share (Rs.) 6.9410.9012.2014.516.50
PBT / Share (Rs.) 6.8310.8012.1314.456.45
Net Profit / Share (Rs.) 6.167.988.9510.575.32
NP After MI And SOA / Share (Rs.) 6.167.988.9510.575.32
PBDIT Margin (%) 12.1716.2216.0118.4515.73
PBIT Margin (%) 8.3212.5712.5715.3811.69
PBT Margin (%) 8.1912.4512.5015.3111.58
Net Profit Margin (%) 7.389.209.2211.209.56
NP After MI And SOA Margin (%) 7.389.209.2211.209.56
Return on Networth / Equity (%) 5.837.839.6012.186.88
Return on Capital Employeed (%) 6.119.8112.0515.387.69
Return On Assets (%) 5.006.598.039.625.47
Asset Turnover Ratio (%) 0.680.740.880.910.60
Current Ratio (X) 5.825.895.153.252.96
Quick Ratio (X) 4.074.553.491.972.17
Inventory Turnover Ratio (X) 5.535.692.943.793.17
Dividend Payout Ratio (NP) (%) 48.6037.5833.5018.890.00
Dividend Payout Ratio (CP) (%) 31.9626.9024.4014.820.00
Earning Retention Ratio (%) 51.4062.4266.5081.110.00
Cash Earning Retention Ratio (%) 68.0473.1075.6085.180.00
Interest Coverage Ratio (X) 94.70144.69215.81266.10150.03
Interest Coverage Ratio (Post Tax) (X) 58.4683.10125.29162.5792.14
Enterprise Value (Cr.) 2887.724059.043380.384139.102821.79
EV / Net Operating Revenue (X) 2.072.812.092.633.05
EV / EBITDA (X) 17.0417.3213.0514.2719.39
MarketCap / Net Operating Revenue (X) 2.102.882.132.643.14
Retention Ratios (%) 51.3962.4166.4981.100.00
Price / BV (X) 1.662.452.212.882.26
Price / Net Operating Revenue (X) 2.102.882.132.643.14
EarningsYield 0.030.030.040.040.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

NOCIL Ltd. is a Public Limited Listed company incorporated on 11/05/1961 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L99999MH1961PLC012003 and registration number is 012003. Currently Company is involved in the business activities of Manufacture of organic and inorganic chemical compounds. Company's Total Operating Revenue is Rs. 1392.69 Cr. and Equity Capital is Rs. 167.02 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Petrochemicals - PolymersMafatlal House, H T Parekh Marg, Mumbai Maharashtra 400020Contact not found
Management
NamePosition Held
Mr. Hrishikesh A MafatlalExecutive Chairman
Mr. Anand V SManaging Director
Mr. Priyavrata H MafatlalNon Independent Director
Mr. Vilas R GupteIndependent Director
Mr. Debnarayan BhattacharyaIndependent Director
Mr. A VellayanIndependent Director
Mr. Sujal ShahIndependent Director
Mr. Ramesh IyerIndependent Director
Ms. Radhika HaribhaktiIndependent Director

FAQ

What is the intrinsic value of NOCIL Ltd and is it undervalued?

As of 08 April 2026, NOCIL Ltd's intrinsic value is ₹98.89, which is 39.70% lower than the current market price of ₹164.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (5.94 %), book value (₹106), dividend yield (1.22 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of NOCIL Ltd?

NOCIL Ltd is trading at ₹164.00 as of 08 April 2026, with a FY2026-2027 high of ₹211 and low of ₹125. The stock is currently in the middle of its 52-week range. Market cap stands at ₹2,734 Cr..

How does NOCIL Ltd's P/E ratio compare to its industry?

NOCIL Ltd has a P/E ratio of 43.5, which is below the industry average of 50.13. This is broadly in line with or below the industry average.

Is NOCIL Ltd financially healthy?

Key indicators for NOCIL Ltd: ROCE of 6.65 % is on the lower side compared to the industry average of 14.57%; ROE of 5.94 % is below ideal levels (industry average: 13.10%). Dividend yield is 1.22 %.

Is NOCIL Ltd profitable and how is the profit trend?

NOCIL Ltd reported a net profit of ₹103 Cr in Mar 2025 on revenue of ₹1,393 Cr. Compared to ₹176 Cr in Mar 2022, the net profit shows a declining trend.

Does NOCIL Ltd pay dividends?

NOCIL Ltd has a dividend yield of 1.22 % at the current price of ₹164.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in NOCIL Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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