Overview

Detailed Summary

Nuvoco Vistas Corporation Limited is an integrated building materials company manufacturing cement, Ready-Mix Concrete (RMX) and Modern Building Materials (MBM), with leading brands including Double Bull, Concreto and Duraguard Microfiber and a national distribution footprint across 22 states and ~25 MMTPA operational capacity expanding to 35 MMTPA post planned projects.
FY26 was a record year: consolidated volumes reached 20.4 MMT, revenue rose to ₹11,338 crore and EBITDA to ₹1,881 crore, while premiumisation increased to 43% and Q4 delivered all-time high quarterly volumes (6.0 MMT) and EBITDA (₹590 crore), reflecting improved pricing, trade mix and operational leverage.
The near-term growth agenda is led by the Vadraj Cement acquisition (6 MMTPA GU, 3.5 MMTPA CU) with phased commissioning Q3 FY27–Q1 FY28, a 4 MMTPA East debottlenecking program through FY28, and a Viramgam bulk terminal (~1.5 MMTPA handling capacity) targeted by FY28 to optimize western distribution and reduce logistics costs.
Macro and operational headwinds include elevated petcoke, coal and packing-granule prices, INR depreciation and rake constraints; management expects blended fuel cost pressure into Q1–Q2 and has initiated price increases plus mitigations such as fuel-mix optimisation, higher AFR usage, geo-optimisation and premiumisation to protect margins.
Sustainability initiatives are substantive: specific CO2 emissions reported at 454 kg/t (FY25), ~50 MW of green power (WHR and solar), ~3.5 lakh tonnes of waste used as fuel in FY26, water intensity reduced 7.2% YoY, and extensive CSR programs including Nuvo-Mason training and community projects.

Sector: Cement & Cement Products
Industry: Cement & Cement Products
Market Cap: 11,038 Cr
Volatility: Moderate Risk
P/E Ratio: 28.3
Industry P/E: 33.2
PEG Ratio: 0.0
P/B Ratio: 1.1
52W High: 477.35
52W Low: 276.30

Sales CAGR

1Y: -3.51%
3Y: 5.92%
5Y: 5.13%
10Y: —

Profit CAGR

1Y: -85.18%
3Y: -9.80%
5Y: -30.48%
10Y: —

ROE

TTM: 3.51%
3Y: 1.04%
5Y: 0.83%
10Y: 1.47%

ROCE

TTM: 6.22%
3Y: 2.57%
5Y: 3.27%
10Y: 4.38%

Technicals

‌

Forecasts

Unlock more with professional

Analyst Target, Price, EPS and Revenue Projections
Get In-depth insights on EPS and Revenue forecasts

Peers

Commodities Construction Materials Cement & Cement Products Cement & Cement Products

Symbol	Watchlist	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
JSWCEMENT		129.45	17,649 Cr	24.15	2.69	0.38	11.15	9.99	-5.50
INDIACEM		379.55	11,762 Cr	147.68	2.44	0.00	0.79	1.62	-0.49
NUVOCO		309.05	11,038 Cr	28.30	1.08	0.00	3.51	6.22	1.77
STARCEMENT		211.25	8,538 Cr	21.25	2.68	0.47	12.33	15.20	8.40
BIRLACORPN		1010.45	7,781 Cr	13.84	1.23	1.24	7.57	8.97	3.84
JKLAKSHMI		599.15	7,438 Cr	17.45	1.91	1.09	10.60	11.26	4.83
PRSMJOHNSN		120.25	6,053 Cr	80.70	3.96	0.00	4.91	6.10	0.41
Median: 7 Co.	—	309.05	8,538 Cr	24.15	2.44	0.38	7.57	8.97	1.77

Financial Statements

AI Powered Summary

Discover detailed, AI-driven financial summaries that break down key metrics, trends, and insights—empowering you to make smarter investment decisions.

Ask AI

Consolidated Quarterly Results (in ₹ Crores)

View Standalone

Total Figures

QoQ Changes

Total Figures

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Sales	2,421	2,933	2,636	2,269	2,409	3,042	2,873	2,458	2,701	3,307
Expenses	2,011	2,443	2,293	2,050	2,151	2,491	2,354	2,091	2,318	2,719
Operating Profit	410	491	343	219	258	552	519	367	384	588
OPM %	16.95	16.73	13.02	9.64	10.72	18.13	18.05	14.93	14.20	17.77
Other Income	11	7.17	4.52	10	0.16	4.32	15	3.88	2.76	-46
Interest	133	125	127	132	126	113	117	102	99	81
Depreciation	231	218	216	215	217	220	215	218	223	228
Profit Before Tax	57	155	5.09	-118	-85	224	202	51	65	233
Tax %	45.39	35.26	44.20	27.60	27.55	26.02	33.95	28.82	23.50	39.62
Net Profit	31	100	2.84	-85	-61	166	133	36	49	141
EPS in Rs	0.87	2.81	0.08	-2.88	-1.72	4.63	3.73	1.02	1.38	3.94

Consolidated Profit Loss (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	5,832	6,297	7,052	6,793	7,489	9,318	10,586	10,733	10,357	10,593
Expenses	4,429	5,105	6,134	5,496	6,028	7,816	9,376	9,109	8,985	9,046
Operating Profit	1,404	1,192	918	1,297	1,460	1,502	1,210	1,624	1,372	1,547
OPM %	24.07	18.93	13.01	19.09	19.50	16.11	11.43	15.13	13.25	14.61
Other Income	11	54	54	37	34	37	-393	33	19	30
Interest	231	425	457	419	664	570	512	533	496	487
Depreciation	313	392	498	528	794	918	951	919	869	867
Profit Before Tax	196	226	17	387	37	51	-645	206	27	223
Tax %	15.53	29.95	259.56	35.55	171.10	36.97	102.46	28.44	17.62	31.77
Net Profit	166	158	-26	249	-26	32	16	147	22	152
EPS in Rs	—	—	—	—	-1.58	-83,57,45,394.67	0.44	4.12	0.11	10.07
Dividend Payout %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Consolidated Balance Sheet (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	150	150	200	242	315	357	357	357	357
Reserves	3,799	3,967	4,788	5,037	7,009	8,464	8,482	8,626	8,645
Borrowings	4,314	4,369	3,375	3,642	7,792	5,575	4,785	4,404	4,074
Other Liabilities	3,022	3,133	4,898	4,523	4,792	5,218	5,364	5,323	5,082
Total Liabilities	11,285	11,619	13,262	13,444	19,907	19,615	18,988	18,710	18,158
Fixed Assets	8,915	8,688	9,894	9,969	15,041	15,408	14,961	15,026	14,702
CWIP	143	144	605	647	1,240	399	596	488	387
Investments	414	846	457	1.24	385	187	0.97	1.70	1.65
Other Assets	1,814	1,942	2,306	2,827	3,241	3,621	3,430	3,194	3,067
Total Assets	11,285	11,619	13,262	13,444	19,907	19,615	18,988	18,710	18,158

Consolidated Cash Flows (in ₹ Crores)

View Standalone

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	922	951	860	1,025	1,717	1,221	1,711	1,593	1,329
Cash from Investing Activity	-513	-602	-149	-310	-2,898	-190	-260	-573	-337
Cash from Financing Activity	-503	-387	-647	-559	1,420	-1,420	-1,362	-1,114	-913
Net Cash Flow	-94	-38	65	156	239	-390	89	-95	79

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Promoters	71.79%	71.79%	71.79%	72.02%	72.02%	72.02%	72.02%	72.02%	72.02%	72.02%	72.02%	72.02%
FIIs	2.76%	3.15%	3.05%	3.43%	3.50%	3.24%	3.37%	3.55%	3.82%	5.19%	5.00%	4.88%
DIIs	20.59%	19.95%	19.97%	18.60%	18.46%	18.86%	19.27%	19.37%	19.10%	18.10%	18.09%	18.34%
Public	4.87%	5.11%	5.20%	5.95%	6.02%	5.87%	5.35%	5.06%	5.06%	4.70%	4.89%	4.76%
Total Shareholders	2,47,527	2,39,732	2,30,864	2,26,804	2,19,934	2,13,595	2,03,217	1,97,095	1,92,406	1,82,725	1,82,123	1,78,159

Market Transactions

Unlock more with professional

Real-time bulk & block deal transactions
Export transaction data for analysis

Projection

Unlock more with professional

Analyst Target, Price, EPS and Revenue Projections
Get In-depth insights on EPS and Revenue forecasts

Documents

Presentations

Concalls

Reports

Presentations

Investor Presentation

Q4 FY26

Investor Presentation

Q3 FY26

Investor Presentation

Q2 FY26

Available on Pro Plan