NUVOCO

Nuvoco Vistas Corporation Limited

Cement manufacturer with multi-region capacity expansion across India

Commodities›Construction Materials›Cement & Cement Products›Cement & Cement Products

nuvoco.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹341.15
Market cap
12,193 Cr
Stock P/E
31.6
P/B
1.19
ROE (FY26)
3.5%
ROCE (FY26)
6.4%
Operating margin (FY26)
8.6%
Debt / equity (FY26)
0.44
OCF / EBITDA (FY26)
80.0%
OCF / EBITDA (3Y)
90.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Nuvoco (Nuvoco Vistas) makes and sells cement, ready-mix concrete and modern building materials in India, selling through a network of dealers, sub-dealers, influencers and agents, with plants in East, North and West India.

Company snapshot

10thBy market cap

Ranked among 32 companies in Cement & Cement Products.

Segment mix

Reportable segments as of 2024-09-30 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 90.3% of revenue

SegmentRevenue shareRevenuePBTAssets
Cement
90.3%
2,049 Cr10 Cr17,656 Cr
Ready Mix Concrete and Others
10.4%
237 Cr-6 Cr801 Cr

What we see

Positives
  • ✓91% of operating profit came in as cash over the last three years — profits are backed by real cash.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales2,573 Cr2,421 Cr2,933 Cr2,636 Cr2,269 Cr2,409 Cr3,042 Cr2,873 Cr2,458 Cr2,701 Cr3,307 Cr3,129 Cr
Operating expenses (approx.)2,243 Cr2,011 Cr2,443 Cr2,293 Cr2,050 Cr2,151 Cr2,491 Cr2,354 Cr2,091 Cr2,318 Cr2,719 Cr2,560 Cr
EBITDA330 Cr410 Cr491 Cr343 Cr219 Cr258 Cr552 Cr519 Cr367 Cr384 Cr588 Cr568 Cr
OPM %12.8%17.0%16.7%13.0%9.6%10.7%18.1%18.1%14.9%14.2%17.8%18.2%
Other income6 Cr11 Cr7 Cr5 Cr10 Cr0.16 Cr4 Cr15 Cr4 Cr3 Cr3 Cr4 Cr
Interest140 Cr133 Cr125 Cr127 Cr132 Cr126 Cr113 Cr117 Cr102 Cr99 Cr81 Cr70 Cr
Depreciation226 Cr231 Cr218 Cr216 Cr215 Cr217 Cr220 Cr215 Cr218 Cr223 Cr228 Cr226 Cr
Profit before tax-30 Cr57 Cr155 Cr5 Cr-118 Cr-85 Cr224 Cr202 Cr51 Cr65 Cr233 Cr276 Cr
Tax %105.2%45.4%35.3%44.2%27.6%27.6%26.0%33.9%28.8%23.5%39.6%42.2%
Net profit2 Cr31 Cr100 Cr3 Cr-85 Cr-61 Cr166 Cr133 Cr36 Cr49 Cr141 Cr160 Cr
EPS (₹)₹0.04₹0.87₹2.81₹0.08₹-2.38₹-1.72₹4.63₹3.73₹1.02₹1.38₹3.94₹4.47

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales7,052 Cr6,793 Cr7,489 Cr9,318 Cr10,586 Cr10,733 Cr10,357 Cr11,338 CrSign in free for the trailing twelve months
Operating expenses (approx.)6,134 Cr5,496 Cr6,028 Cr7,821 Cr9,376 Cr9,109 Cr8,985 Cr9,481 CrSign in free for the trailing twelve months
EBITDA918 Cr1,297 Cr1,461 Cr1,497 Cr1,210 Cr1,624 Cr1,372 Cr1,857 CrSign in free for the trailing twelve months
OPM %13.0%19.1%19.5%16.1%11.4%15.1%13.2%16.4%Sign in free for the trailing twelve months
Other income54 Cr37 Cr34 Cr42 Cr13 Cr33 Cr19 Cr24 CrSign in free for the trailing twelve months
Interest457 Cr419 Cr664 Cr570 Cr512 Cr533 Cr496 Cr398 CrSign in free for the trailing twelve months
Depreciation498 Cr528 Cr794 Cr918 Cr951 Cr919 Cr869 Cr884 CrSign in free for the trailing twelve months
Profit before tax17 Cr387 Cr37 Cr51 Cr-645 Cr206 Cr27 Cr551 CrSign in free for the trailing twelve months
Tax %259.6%35.6%170.9%37.0%102.5%28.4%17.6%34.6%Sign in free for the trailing twelve months
Net profit-26 Cr249 Cr-26 Cr32 Cr16 Cr147 Cr22 Cr360 CrSign in free for the trailing twelve months
EPS (₹)₹-1.09₹10.28₹-0.82₹0.93₹0.44₹4.13₹0.61₹10.07Sign in free for the trailing twelve months
Dividend payout %———0.0%0.0%0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital200 Cr242 Cr315 Cr357 Cr357 Cr357 Cr357 Cr357 Cr
Reserves4,788 Cr5,037 Cr7,009 Cr8,464 Cr8,482 Cr8,626 Cr8,645 Cr9,872 Cr
Borrowings3,318 Cr3,593 Cr5,759 Cr5,399 Cr4,618 Cr4,137 Cr3,823 Cr4,541 Cr
Other liabilities4,955 Cr4,573 Cr6,825 Cr5,395 Cr5,531 Cr5,589 Cr5,333 Cr5,529 Cr
Total liabilities13,262 Cr13,444 Cr19,908 Cr19,615 Cr18,988 Cr18,710 Cr18,158 Cr20,299 Cr
Fixed assets (net)6,065 Cr6,221 Cr9,324 Cr9,785 Cr9,387 Cr9,402 Cr9,180 Cr8,893 Cr
CWIP605 Cr647 Cr1,236 Cr399 Cr594 Cr471 Cr383 Cr2,474 Cr
Investments456 Cr0.05 Cr384 Cr187 Cr0.97 Cr2 Cr2 Cr2 Cr
Loans & advances———3 Cr3 Cr4 Cr2 Cr5 Cr
Inventories585 Cr603 Cr712 Cr1,068 Cr1,050 Cr947 Cr762 Cr745 Cr
Trade receivables500 Cr511 Cr454 Cr571 Cr601 Cr591 Cr660 Cr744 Cr
Cash & bank98 Cr254 Cr493 Cr103 Cr193 Cr98 Cr177 Cr88 Cr
Other assets4,954 Cr5,209 Cr7,304 Cr7,499 Cr7,159 Cr7,196 Cr6,993 Cr7,348 Cr
Total assets13,262 Cr13,444 Cr19,908 Cr19,615 Cr18,988 Cr18,710 Cr18,158 Cr20,299 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity860 Cr1,025 Cr1,717 Cr1,221 Cr1,711 Cr1,593 Cr1,329 Cr1,485 Cr
Cash from investing-149 Cr-310 Cr-2,924 Cr-190 Cr-260 Cr-573 Cr-337 Cr-2,500 Cr
Cash from financing-647 Cr-559 Cr1,420 Cr-1,420 Cr-1,362 Cr-1,114 Cr-913 Cr927 Cr
Net cash flow65 Cr156 Cr213 Cr-390 Cr89 Cr-95 Cr79 Cr-89 Cr
Free cash flow (OCF − Capex)279 Cr455 Cr1,166 Cr810 Cr1,225 Cr1,011 Cr978 Cr775 Cr

Ratios

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %5.7%9.1%5.4%4.4%-1.0%5.6%4.1%6.4%
ROE %-0.5%4.7%-0.4%0.4%0.2%1.6%0.2%3.5%
Debtor days2627222221202324
Inventory days152173251258217198159154
Days payable199225320288351353331340
Cash conversion cycle-21-25-47-8-114-135-149-162
OCF / EBITDA %93.7%79.0%117.6%81.6%141.4%98.1%96.8%80.0%
OCF / EBITDA % (3 years)——98.0%93.2%111.6%104.5%110.1%90.8%
Debt / equity0.670.680.790.610.520.460.420.44
Current ratio0.590.550.510.580.480.450.430.45
Net debt / EBITDA3.512.573.613.543.662.492.662.40