NCL Industries , a multi-product company known for its cement, boards, and ready-mix concrete (RMC) production, has reported mixed results for the second quarter. The company saw growth in some segments while others experienced significant declines.

Cement and Energy Production Show Growth

NCL Industries' core cement business demonstrated resilience in Q2:

The increase in cement production and dispatches suggests a steady demand in the construction sector. The growth in energy production also indicates improved operational efficiency or increased capacity utilization.

Significant Declines in Other Segments

However, other segments of NCL Industries' business faced substantial challenges:

The dramatic 98.00% drop in door production is particularly noteworthy, indicating potential issues in this product line or a strategic shift in the company's focus.

Analysis

The contrasting performance across different segments presents a complex picture of NCL Industries' operations. While the core cement business shows strength, the significant declines in cement boards, RMC, and especially door production raise questions about the company's diversification strategy and market conditions in these sectors.

Investors and industry observers will likely be keen to understand the factors behind these mixed results, particularly the reasons for the sharp decline in door production. It remains to be seen how these varied segment performances will impact NCL Industries' overall financial results for the quarter.

As the company navigates these challenges, stakeholders will be watching closely to see how management addresses the underperforming segments while capitalizing on the growth in its cement and energy production lines.

NCL Industries Limited , a prominent player in the Indian manufacturing sector, has announced significant changes in its leadership and corporate governance structure. The company, known for its diverse portfolio in cement, ready-mix concrete, and other building materials, has made key appointments and reconstituted several important committees.

New Company Secretary Appointment

Mrs. M. Divya Bharati has been appointed as the new Company Secretary & Compliance Officer of NCL Industries Limited, effective October 1, 2025. This appointment follows the retirement of Mr. T. Arun Kumar, who stepped down from the position due to superannuation on the same date.

Mrs. Bharati brings a wealth of experience and expertise to her new role. She holds an LLM in Corporate Laws and is an Associate Member of the Institute of Company Secretaries of India. With over 13 years of industry experience, Mrs. Bharati is well-equipped to handle the responsibilities of her new position. Prior to this appointment, she served as the Company Secretary of NCL Buildtek Ltd.

Committee Reconstitution

In light of these changes, the Board of Directors has reconstituted five key committees, effective October 1, 2025:

1. Audit Committee
2. Nomination & Remuneration Committee
3. Stakeholders Relationship Committee
4. Risk Management Committee
5. CSR Committee

This restructuring aims to ensure continued effective governance and oversight of the company's operations.

Board Meeting and AGM Proceedings

The changes were announced during a Board Meeting held on September 25, 2025. The meeting, which lasted from 12:30 PM to 1:00 PM, also addressed other important matters.

Additionally, NCL Industries Limited conducted its 44th Annual General Meeting (AGM) on the same day, September 25, 2025, via video conference. The AGM, which ran from 11:00 AM to 12:00 Noon, covered various agenda items including:

• Adoption of Standalone & Consolidated Financial Statements for the year ended March 31, 2025
• Approval of Interim Dividend and declaration of final dividend for FY 2024-25
• Appointment of Mrs. Pooja Kalidindi and Mr. Utkal B Goradia as Directors
• Ratification of Cost Auditor's remuneration for FY 2025-26
• Appointment of M/s AJ Sharma & Associates as Secretarial Auditors for a five-year term
• Appointment of Mrs. Renu Challu as Independent Director for a five-year term
• Reappointment of Mr. NGVSG Prasad as Executive Director & CFO for a five-year term

These changes and decisions reflect NCL Industries' commitment to maintaining strong corporate governance practices and adapting to evolving business needs.