NCL Industries (NSE:NCLIND) filed its Annual Report for FY2025-26 and the notice convening its 45th Annual General Meeting on 24 August 2026. The AGM is scheduled for 18 September 2026 at 11:00 AM IST via video conferencing, with the board having recommended a dividend of Rs 3.50 per share for FY26.
Key Highlights
- The 45th AGM of NCL Industries will be held on 18 September 2026 at 11:00 AM IST through video conferencing and other audio-visual means.
- The board has recommended a dividend of Rs 3.50 per equity share, representing 35% on face value, for FY26.
- Consolidated profit for FY26 rose to Rs 95.39 crore from Rs 25.20 crore in FY25, with consolidated earnings per share at Rs 21.09 versus Rs 5.57 previously.
- A 130 MW solar and wind hybrid project at Kuppanpuram, Thoothukudi district, Tamil Nadu, with an estimated cost of Rs 919 crore, has been approved in phases, with Phase I of 50 MW targeted for commissioning by February 2028.
About the Company
NCL Industries (NSE:NCLIND), headquartered at Secunderabad, Telangana, is a diversified building materials company operating across four segments: Cement (under the Nagarjuna Cement brand), Cement Bonded Particle Boards (Bison Panel), Ready Mix Concrete, and Renewable Hydel Energy. The company holds 4.00 MTPA of cement capacity across Telangana and Andhra Pradesh, 90,000 MT of board capacity annually, and 15.75 MW of operating hydel power capacity.
Announcement in Detail
The filing, submitted on 24 August 2026 pursuant to Regulation 34 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015, encloses the Annual Report for FY2025-26 along with the formal notice of the 45th AGM. The AGM will be conducted entirely through video conferencing and other audio-visual means. Shareholders whose email addresses are registered with the company, its Registrar and Share Transfer Agent, or depository participants have received the annual report electronically.
For shareholders without registered email addresses, the company has dispatched a physical letter providing a web link and full details to access the annual report and AGM notice, in compliance with Regulations 36(1)(b) and 58(1)(b) of the SEBI Listing Regulations. The annual report discloses standalone revenue from operations of Rs 1,422.08 crore for FY26 (FY25: Rs 1,362.10 crore) and standalone profit of Rs 95.29 crore (FY25: Rs 25.38 crore). The Doors Division was discontinued during the year, resulting in a one-time charge of Rs 28.36 crore, fully absorbed in FY26.
Impact on Investors
Investors will note that the board has recommended a dividend of Rs 3.50 per share for FY26, subject to shareholder approval at the 45th AGM on 18 September 2026. This constitutes a notice of an upcoming resolution, not a confirmed payment; shareholder approval at the AGM remains the required next step. The disclosed terms indicate a substantial year-on-year improvement in both standalone and consolidated profitability, driven primarily by the cement division.
Shareholders will observe that the discontinuance of the Doors Division introduced a one-time charge of Rs 28.36 crore in FY26, which the filing states has been fully absorbed. The filing also shows that the proposed 130 MW renewable energy project represents a capital commitment of approximately Rs 919 crore to be executed in phases, which investors will note carries execution and financing risk over the project timeline through at least February 2028 for Phase I.
Sector / Market Context
India's cement sector recorded national production growth of approximately 8.7% during FY26, as noted in the company's own management communication within the annual report. The building materials industry has seen increased demand from infrastructure spending, including large-scale government projects. Captive renewable energy adoption among cement manufacturers has accelerated as a structural response to high power costs, which typically account for a significant share of cement production expenses across the industry.