NOCIL Limited (NOCIL) AI Stock Analysis

• Market Cap: ₹28.86B
• Dividend Yield: 1.15%
• Average Volume (3M): 23.19K
• Price to Earnings (P/E): 31.0
• Beta (1Y): 1.30
• Revenue Growth: -4.47%
• EPS Growth: -26.12%
• Country: IN
• Employees: 716
• Sector: Basic Materials
• Sector Strength: 60
• Industry: Chemicals - Specialty
• EPS (TTM): 1.00
• Shares Outstanding: 167,024,930
• 10 Day Avg. Volume: 18,851
• 30 Day Avg. Volume: 23,194
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• 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: ₹202.00
• Price Target Upside: 16.36% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 62 Neutral
• Price Target: ₹202.00 ▲(16.36% Upside)

NOCIL Limited faces significant challenges in financial performance, with declining revenue and cash flow issues being the primary concerns. The technical analysis suggests a lack of strong bullish momentum, while high valuation metrics indicate potential overvaluation. Strong balance sheet remains a positive factor, but liquidity issues need addressing for improvement.

NOCIL Limited Business Overview & Revenue Model

Company Description

NOCIL Limited (NOCIL) is a prominent Indian company operating in the chemical industry, primarily engaged in the manufacturing and marketing of rubber chemicals. Established in 1961, NOCIL is a part of the Arvind Mafatlal Group of Industries, and it stands as a leading supplier of rubber chemicals in India and internationally. The company's core product offerings include various categories of rubber chemicals, such as accelerators, antioxidants, and pre-vulcanization inhibitors, which are essential for enhancing the properties and extending the life of rubber products. NOCIL serves a wide array of sectors, including automotive, industrial rubber products, and consumer goods, thereby playing a crucial role in the rubber and tire manufacturing supply chain.

How the Company Makes Money

NOCIL Limited generates revenue primarily through the sale of its rubber chemical products. The company's revenue model is based on manufacturing and distributing a diverse range of rubber chemicals that are crucial in the production of tires and other rubber goods. These chemicals are sold domestically within India and exported to international markets, providing a significant source of income. NOCIL's earnings are driven by its strong relationships with key clients in the automotive and industrial sectors, where demand for high-performance rubber products is consistent. Additionally, the company's strategic partnerships with global tire manufacturers and its focus on innovation and sustainability contribute to its revenue streams. Factors such as fluctuations in raw material prices, regulatory changes, and global economic conditions can impact NOCIL's revenue, but its established market presence and continuous product development efforts help maintain its financial stability.

NOCIL Limited Financial Statement Overview

Summary

NOCIL Limited's financial performance indicates challenges in maintaining growth and cash generation, reflected in declining revenue and profit margins. The balance sheet is strong, with minimal debt, but liquidity issues are highlighted by negative free cash flow.

Income Statement

NOCIL Limited has shown a volatile revenue trend over the years with a significant decrease in the latest year. The gross profit margin remains healthy at approximately 42.7% for 2025, but the net profit margin has decreased to 7.4% from 9.3% in 2024. EBITDA margin has also seen a decline. The company needs to address the drop in revenue and profitability margins to enhance its income statement performance.

Balance Sheet

The balance sheet of NOCIL Limited indicates strong equity with a high equity ratio of 85.7% in 2025. The debt-to-equity ratio is extremely low at 0.006, suggesting minimal leverage and a conservative capital structure. However, the return on equity has decreased to 5.8% in 2025 from 7.8% in 2024, indicating declining efficiency in generating profits from shareholders' equity.

Cash Flow

The cash flow position of NOCIL Limited shows a concerning trend with negative free cash flow in recent years. The operating cash flow to net income ratio is very low, suggesting challenges in converting profits into cash. The decline in free cash flow growth rate is a critical area that needs improvement to ensure better liquidity and financial flexibility.

Breakdown	Mar 2025	Mar 2024	Mar 2023	Mar 2022	Mar 2021
Income Statement
Total Revenue	13.93B	14.37B	16.17B	15.61B	9.13B
Gross Profit	5.95B	5.88B	7.29B	7.02B	4.08B
EBITDA	1.37B	2.34B	2.59B	2.89B	1.45B
Net Income	1.03B	1.33B	1.49B	1.76B	884.10M
Balance Sheet
Total Assets	20.57B	20.15B	18.57B	18.30B	16.15B
Cash, Cash Equivalents and Short-Term Investments	2.77B	3.73B	2.39B	297.80M	1.20B
Total Debt	103.00M	131.30M	97.90M	55.20M	56.10M
Total Liabilities	2.95B	3.17B	3.05B	3.85B	3.30B
Stockholders Equity	17.62B	16.99B	15.52B	14.45B	12.85B
Cash Flow
Free Cash Flow	-969.90M	1.65B	2.52B	-664.40M	666.10M
Operating Cash Flow	255.60M	2.01B	2.82B	-302.20M	935.60M
Investing Cash Flow	-369.50M	-895.90M	-2.17B	311.60M	-621.00M
Financing Cash Flow	-502.10M	-553.00M	-537.70M	-336.00M	2.70M

NOCIL Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 173.60
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NOCIL, the sentiment is Negative. The current price of 173.6 is below the 20-day moving average (MA) of 182.98, below the 50-day MA of 188.22, and below the 200-day MA of 210.20, indicating a bearish trend. The MACD of -4.30 indicates Positive momentum. The RSI at 32.65 is Neutral, neither overbought nor oversold. The STOCH value of 15.96 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NOCIL.

NOCIL Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FCL	72 Outperform	₹26.12B	23.92		0.35%	-8.66%	-17.63%
ROSSARI	69 Neutral	₹35.18B	26.03		0.08%	11.77%	-1.14%
INDIANHUME	68 Neutral	₹19.39B	3.47		1.09%	7.39%	612.81%
NOCIL	62 Neutral	₹28.86B	31.00		1.15%	-4.47%	-26.12%
Sector *	61 Neutral	$10.08B	5.96	1.53%	3.00%	3.04%	-41.02%
GUJALKALI	56 Neutral	₹41.14B	―		2.47%	7.00%	72.50%
TIRUMALCHM	48 Neutral	₹29.19B	―		0.35%	-1.61%	-18.85%