Cash GenerationOperating cash flow materially exceeds accounting profits (OCF/net income 4.40) and free cash flow surged 3,169%, indicating the business converts operations into cash. That cash strength supports capex, working capital, debt service and provides runway to stabilise operations while profits recover.
Capital StructureThe balance sheet shows moderate leverage (D/E ~0.93) and a 33.8% equity ratio, reflecting a balanced financing mix. This preserves financial flexibility, keeps interest burden manageable, and enables the company to access funding for registrations, capacity or working capital during cyclical agricultural demand.
Diversified Revenue StreamsNACL earns from branded/generic formulations, contract manufacturing (CMO/CDMO), and exports, giving multiple demand drivers. Contract manufacturing can provide fee-based, more predictable revenue and utilisation leverage, while exports reduce single-market risk—supporting resilience across cycles.