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NCL Industries shares fall 3% on weak Q1 business update; details here
The cement maker's stock fell as much as 2.93 per cent during the day to ₹216.5 per share. The stock pared losses to trade 1.4 per cent lower at ₹219.8 apiece, compared to a 0.25 per cent decline in Nifty 50 as of 9:57 AM.
Shares of the company fell for the fifth straight session and currently trade at 2.8 times the average 30-day trading volume, according to Bloomberg. The counter has risen 0.4 per cent this year, compared to a 7.5 per cent advance in the benchmark Nifty 50. NCL Industries has a total market capitalisation of ₹984.72 crore.
NCL Industries Q1 business update
The cement maker reported a decline across key product segments for the first quarter, according to the data released by the company. Cement production stood at 6.34 lakh metric tonnes (Mt), down 5 per cent from 6.69 lakh Mt in the same quarter last year. Cement dispatches also fell 4 per cent year-on-year to 6.28 lakh Mt from 6,57 lakh Mt.
The cement boards segment witnessed sharper declines. Production dropped 17 per cent year-on-year (Y-o-Y) to 17,432 Mt, while dispatches fell significantly by 41 per cent to 11,159 Mt from 18,832 Mt in the year-ago period.
Ready-mix concrete (RMC) production and sales contracted 8 per cent to 73,991 cubic metres (CuM), compared to 80,035 CuM a year ago. The doors segment saw the steepest decline, with production and sales falling 75 per cent to 1,610 units from 6,537 units in the corresponding quarter last year.
About NCL Industries
The company is a prominent Indian manufacturer specialising in building materials, with a strong focus on cement production and various construction products. The company manufactures Ordinary Portland Cement (OPC) and Pozzolana Portland Cement (PPC), which are widely used in residential, commercial, and infrastructure projects.
In addition to cement, NCL produces cement boards, pre-laminated boards, and decorative panels, which have found strong demand in the interior design and construction sectors.
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