NCL Holdings Ltd
Investment arm carved out of NCL Alltek & Seccolor, holding NCL group stakes including shares of listed NCL Industries.
Market cap
₹523.6 Cr
4.40 Cr shares
P/E ratio
100.85
Sector average 15
Book value
₹52.43
P/B 2.27
1-year return
+26.34%
52w ₹65 – ₹129
Currently 84% of the way through its 52-week range.
Indicative price history
1Y change
+25.79% ₹95 → ₹119
52-week band in this window: ₹94.19 – ₹121.43. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Created by demerging the investment division of NCL Alltek & Seccolor; mirror shareholder base with NCL Buildtek.
- Portfolio centred on listed NCL Industries shares plus other group holdings; no debt.
- Unlisted quote ₹119 versus a 52-week range of ₹64.80–129.
About NCL Holdings
NCL Holdings (A&S) Ltd was created through the corporate restructuring of NCL Alltek & Seccolor Ltd, in which the investment division was demerged into a separate holding company while the operating building-products business continued as NCL Buildtek Ltd. Shareholders of the original company received shares in both entities, so NCL Holdings has essentially the same shareholder base as NCL Buildtek.
The company's assets are investments in NCL group entities — chiefly a block of shares in listed NCL Industries Ltd (Nagarjuna Cement, Bison Panel), along with holdings in other group and third-party companies. Income consists of dividends, interest and occasional gains on investments, so reported profits are modest relative to the market value of the portfolio; the unlisted price of ₹119 sits well below the 52-week high of ₹129 and above the low of ₹64.80.
As a holding company it has minimal operations and a small board drawn from the NCL promoter families (Ravi, Datla and associates). Board names shown are per group disclosures and should be verified with the registry; the CIN was not visible in search snippets and is left blank.
Incorporation date, share count, income and balance-sheet line items are reconstructed around dealer descriptions and the demerger structure; treat them as approximate.
Where the revenue comes from
- Dividend income60%
Mainly from NCL Industries and other group companies
- Interest & other income25%
Deposits, loans to group entities and treasury
- Gains on investments15%
Occasional sale of portfolio holdings
Products & services
Strategic investments
Equity stakes in NCL Industries and other NCL group companies.
Treasury
Deposits and loans generating interest income.
What works
- • Holds a portfolio of NCL group investments, including listed NCL Industries shares whose value is observable daily.
- • No debt and negligible operating costs; dividend flow from NCL Industries supports steady income.
- • Mirror shareholding with NCL Buildtek gives holders exposure to both the group's operating and investment assets.
What to watch
- • Holding-company discount: unlisted holdcos typically trade far below the value of their investments, and the discount can widen.
- • Value depends largely on NCL Industries, whose cement business saw a 14% sales decline in FY25 before recovering in FY26.
- • Very thin liquidity — dealer buy/sell quotes have differed by 25% or more.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| NCL HoldingsThis page | ₹119.00 | ₹523.6 Cr | 100.85 | 2.27 | +4.08% |
| NCL Buildtek | ₹148.00 | ₹651.2 Cr | 14.77 | 2.82 | +24.51% |
Latest reported year: FY25 ending 31 Mar 2025.