NCL Industries Limited reported mixed operational performance for the quarter ended December 31, 2025, with its core cement business showing steady growth while other product segments faced significant declines.

Cement Operations Show Steady Growth

The company's cement segment demonstrated resilience during Q3 FY26, with both production and dispatches recording positive growth.

For the nine-month period ending December 31, 2025, cement operations maintained their positive trajectory with production growing 3% to 19.69 lakh tonnes and dispatches increasing 2% to 19.61 lakh tonnes compared to the previous year.

Other Product Segments Face Challenges

While cement operations performed well, the company's diversified product portfolio experienced significant setbacks across multiple segments during the quarter.

The door segment showed the most dramatic decline, with production and sales dropping completely during the quarter and falling 93% over the nine-month period.

Energy Operations and Financial Performance

Hydro power generation provided a bright spot among the company's operations, showing modest growth of 2% during the quarter and 6% over the first nine months of FY26.

The company's Q2 FY26 financial results demonstrated strong profitability recovery:

Quarter-on-quarter, revenue increased 1.94% from ₹338.47 crore in Q1 FY26, though profit after tax declined slightly by 1.87% from ₹20.27 crore.

Market Performance

Shares of NCL Industries closed at ₹211.00 on the NSE on January 7, down ₹0.16 or 0.08% for the trading session, reflecting modest market reaction to the operational update.

NCL Industries has released its production and dispatch details for Q3FY26 ended December 31, 2025, under Regulation 30 of SEBI listing requirements. The company demonstrated mixed performance across its business segments, with cement operations showing steady growth while other segments faced challenges.

Cement Operations Show Resilience

The cement segment maintained its growth trajectory with consistent performance across production and dispatch metrics. This represents the company's core strength in cement manufacturing operations.

Diversified Portfolio Performance

The company's other business segments showed varied performance during the quarter. Cement boards and doors segments experienced significant contractions, while energy generation maintained positive momentum.

Nine-Month Performance Overview

For the nine months ended December 31, 2025, NCL Industries maintained positive growth in its cement operations while facing headwinds in other segments.

The quarterly results highlight NCL Industries' dependence on its cement manufacturing operations, which continue to deliver steady growth. The company's energy segment through hydro power generation also showed positive performance, while the building materials segments including cement boards, RMC, and doors faced market challenges during the reporting period.