Nakoda Group of Industries Ltd. (NGIL) AI Stock Analysis

• Market Cap: ₹446.69M
• Dividend Yield: N/A
• Average Volume (3M): 2.32K
• Price to Earnings (P/E): 38.3
• Beta (1Y): 0.56
• Revenue Growth: 15.67%
• EPS Growth: 47.33%
• Country: IN
• Employees: 46
• Sector: Services
• Sector Strength: N/A
• Industry: Packaged Foods
• EPS (TTM): 0.20
• Shares Outstanding: 17,538,052
• 10 Day Avg. Volume: 2,391
• 30 Day Avg. Volume: 2,322
• PEG Ratio: -0.49
• Price to Book (P/B): 2.25
• Price to Sales (P/S): 1.36
• P/FCF Ratio: -15.51
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: ₹23.50 ▼(-20.34% Downside)
• Action: Reiterated Date: 11/22/25
• Date: Action: Reiterated 11/22/25

The overall stock score of 41 reflects significant financial challenges, including declining revenues, negative profitability, and cash flow issues. Technical analysis indicates a bearish trend with weak momentum, while valuation concerns are highlighted by a negative P/E ratio and lack of dividend yield. The absence of positive earnings call insights or corporate events further underscores the stock's current risks.

Positive Factors

Stronger equity base

The balance sheet shows a reasonably solid equity base and an improved equity ratio. A stronger equity position reduces immediate solvency risk, lowers dependence on short-term borrowing, and provides a durable buffer to absorb operating volatility over the next several months.

Improving leverage trend

Debt-to-equity improved slightly year-over-year, signalling active balance-sheet management. Even modest deleveraging reduces refinancing pressure and interest burden, improving financial flexibility to execute operational fixes and refinance maturities in the 2–6 month horizon.

Stable gross margins

Gross profit margins have held up despite top-line weakness, indicating core product economics remain intact. Stable unit economics provide a foundation for restoring profitability through SG&A cuts or volume recovery without needing structural product repricing.

Negative Factors

Negative cash flow

Operating and free cash flow have turned negative, with a steep decline in 2025. Persistent cash deficits strain liquidity, force reliance on external financing, limit capacity to service debt or invest in turnaround initiatives, and raise short- to medium-term solvency risk.

Declining revenues & loss-making

Revenue contraction and negative net margins materially weaken scale economics and operational resilience. Shrinking top-line reduces fixed cost absorption and cash generation, making it harder to regain profitability without structural demand recovery or cost restructuring.

High absolute leverage

Although leverage improved slightly, absolute debt levels remain high. Elevated indebtedness increases interest costs and refinancing exposure, constrains capital allocation, and magnifies vulnerability to any further cash-flow weakness over the coming months.

Nakoda Group of Industries Ltd. Business Overview & Revenue Model

Company Description

Nakoda Group of Industries Limited manufactures and sells natural ingredients in India. The company offers bakery ingredients, edible seeds and nuts, dry fruits, jams, fruit pulps, makhanas and popcorn, amla products, invert sugar products, candies, rice and chickpeas, tutti fruity, karonda cherries, sweet lime peels, orange cut peels, sesame seeds, sauces, spices, fruity bars, pickles, papads, canned vegetables, and frozen fruits and vegetables under the Samrat & Nakodas brand name. It also imports and sells almond in shells, pistachios, dates, saffrons, and spices. In addition, the company exports its products to the Middle East and European countries. It serves ice-cream factories, bakeries, sweet and namkeen factories, airline companies, railway catering, and Indian military. Nakoda Group of Industries Limited was founded in 1989 and is based in Nagpur, India.

Nakoda Group of Industries Ltd. Financial Statement Overview

Summary

Nakoda Group of Industries Ltd. faces significant financial challenges with declining revenues, negative profitability, and cash flow issues. While there is some improvement in equity financing, high debt levels and negative cash flows pose risks. The company needs to focus on improving operational efficiencies and cash management to stabilize its financial position.

Income Statement

The company's income statement reveals declining revenues and deteriorating profitability. Revenue decreased from 586.9 million in 2022 to 462.5 million in 2025. Gross profit margin has remained relatively stable, but net profit margin has turned negative in recent years, reflecting a challenging cost structure and operational inefficiencies.

Balance Sheet

The balance sheet shows a reasonably solid equity base with a debt-to-equity ratio that improved slightly from 2024 to 2025. However, the level of debt remains high, indicating potential leverage risk. The equity ratio has improved, suggesting better asset financing through equity.

Cash Flow

Cash flow analysis is concerning, with negative free cash flow in recent years, particularly a steep decline in 2025. Operating cash flow has also turned negative, indicating potential liquidity issues. The company needs to enhance cash generation to support its operations and debt obligations.

Breakdown	TTM	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	499.14M	462.52M	471.22M	546.03M	596.23M	297.92M
Gross Profit	56.47M	48.65M	43.85M	55.08M	52.21M	79.12M
EBITDA	1.55M	-19.84M	3.99M	42.97M	48.45M	45.69M
Net Income	-20.35M	-36.41M	-21.17M	9.12M	16.98M	13.19M
Balance Sheet
Total Assets	515.62M	418.88M	406.81M	414.39M	415.49M	404.15M
Cash, Cash Equivalents and Short-Term Investments	99.86M	68.64M	3.02M	3.59M	6.18M	943.97K
Total Debt	138.26M	123.94M	182.74M	220.02M	228.41M	244.36M
Total Liabilities	186.10M	139.95M	213.17M	257.29M	266.06M	259.21M
Stockholders Equity	329.51M	278.93M	193.64M	157.10M	149.43M	144.93M
Cash Flow
Free Cash Flow	-31.25M	-40.54M	-2.21M	34.37M	50.20M	-5.07M
Operating Cash Flow	-10.28M	-14.19M	2.88M	42.02M	50.77M	-4.52M
Investing Cash Flow	-20.99M	-15.89M	-5.07M	-7.60M	-554.00K	-184.44K
Financing Cash Flow	36.05M	31.42M	1.61M	-37.05M	-44.98M	2.27M

Nakoda Group of Industries Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 29.50
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NGIL, the sentiment is Positive. The current price of 29.5 is above the 20-day moving average (MA) of 25.29, above the 50-day MA of 26.79, and above the 200-day MA of 29.03, indicating a neutral trend. The MACD of -0.62 indicates Negative momentum. The RSI at 49.14 is Neutral, neither overbought nor oversold. The STOCH value of 48.39 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NGIL.

Nakoda Group of Industries Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NARMADA	70 Outperform	₹1.26B	20.06	―	―	23.65%	-41.93%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
TNTELE	43 Neutral	₹392.40M	-3.30	―	―	―	―
NGIL	41 Neutral	₹446.69M	38.33	―	―	15.67%	47.33%
SHANTI	39 Underperform	₹70.19M	1.54	―	―	220.47%	-47.38%

Nakoda Group of Industries Ltd. Corporate Events

Nakoda Group of Industries Forfeits Unpaid Shares, Resets Paid-Up Capital Structure

Nakoda Group of Industries Ltd. has announced that its board approved the forfeiture of 277,146 equity shares of ₹10 each held by shareholders who failed to pay call money, in line with the company’s Articles of Association and disclosure obligations under SEBI regulations. Following confirmations from both CDSL and NSDL that the forfeiture has been recorded in their systems, the company’s paid-up equity share capital now stands at ₹17.54 crore, comprising 1,75,38,052 equity shares, a move that cleans up its capital structure and clarifies the share base for investors and public shareholders.

Nakoda Group of Industries Closes Trading Window Ahead of Quarterly Results

Nakoda Group of Industries Ltd. has announced that its trading window for dealing in the company’s securities will be closed for all designated persons, including directors, key managerial personnel, connected persons, insiders and their immediate relatives, from 1 January 2026 until 48 hours after the declaration of its unaudited financial results for the quarter ended 31 December 2025. The move, made in line with SEBI’s Prohibition of Insider Trading Regulations and the company’s internal code of conduct, is aimed at preventing insider trading and ensuring fair disclosure practices ahead of the upcoming results announcement, with the board meeting date to approve these results to be communicated later.