NOCIL Limited, a leading manufacturer of rubber chemicals, announced its unaudited financial results for the quarter and nine months ended December 31, 2025. The company's Board of Directors approved the results at a meeting held on February 11, 2026, showing mixed performance amid challenging market conditions.

Quarterly Financial Performance

The company's standalone financial performance for Q3FY26 reflected a decline in profitability compared to the previous year. Key financial metrics demonstrated the impact of market headwinds on the rubber chemicals manufacturer.

Nine-Month Performance Analysis

The nine-month period ending December 31, 2025, showed more pronounced challenges for NOCIL's business operations. The company experienced significant declines across key financial parameters, reflecting sustained pressure on the rubber chemicals industry.

Impact of Labour Code Implementation

A significant factor affecting the company's Q3FY26 results was the implementation of new Labour Codes by the Government of India. The company disclosed an exceptional item of ₹4.92 crores in standalone results and ₹5.39 crores in consolidated results for both the quarter and nine-month periods.

The Labour Codes, notified on November 21, 2025, consolidate twenty-nine existing labour laws into a unified framework. The incremental impact primarily arose from changes in the definition of "wages," affecting gratuity, leave encashment benefits, and other long-term employee benefits. NOCIL continues to monitor the finalization of Central and State Rules for potential future adjustments.

Consolidated Results Overview

NOCIL's consolidated financial results, which include its wholly-owned subsidiary PIL Chemicals Limited, showed similar trends to the standalone performance. The consolidated net profit for Q3FY26 was ₹9.25 crores compared to ₹12.90 crores in Q3FY25, representing a decline of 28.29%.

Operational Highlights

Despite the challenging financial performance, NOCIL maintained its focus on operational efficiency. The company's cost of materials consumed decreased to ₹157.96 crores in Q3FY26 from ₹198.06 crores in Q3FY25, indicating improved raw material management. Employee benefits expense remained relatively stable at ₹22.21 crores compared to ₹22.76 crores in the previous year quarter.

The company operates primarily in the rubber chemicals manufacturing business, which constitutes a single reportable segment under Indian Accounting Standards. NOCIL's financial results were prepared in accordance with Regulation 33 of SEBI Listing Regulations and reviewed by statutory auditors Kalyaniwalla & Mistry LLP.

Mafatlal Industries Limited has created a pledge on 9,59,065 equity shares of NOCIL Limited with ICICI Bank, as disclosed in a regulatory filing dated January 13, 2026. The pledge was created on January 12, 2026, as part of security cover changes under the facilities agreement executed between the company and ICICI Bank.

Pledge Details and Transaction Overview

The pledged shares are equity shares of ₹10 each, representing 0.57% of NOCIL's total share capital. This transaction was undertaken in compliance with the security cover requirements under the facilities agreement with ICICI Bank.

Updated Shareholding Position

Following this pledge creation, Mafatlal Industries Limited's encumbered shareholding position in NOCIL has been updated. The company's total holding in NOCIL stands at 2,52,59,059 shares, representing 15.12% of the total share capital.

Promoter Group Holdings

The disclosure reveals the complete promoter group structure of NOCIL Limited. The total promoter group holding stands at 5,63,91,184 shares, representing 33.76% of the company's total share capital. Among the promoter entities, Hrishikesh Arvind Mafatlal as trustee of Gurukripa Trust holds the largest individual stake at 3,03,26,782 shares (18.16%), followed by Mafatlal Industries Limited at 2,52,59,059 shares (15.12%).

Regulatory Compliance

The disclosure was made under Regulation 31(1) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was signed by Amish Shah, Company Secretary of Mafatlal Industries Limited, and submitted to both BSE Limited and National Stock Exchange of India Limited on January 13, 2026. NOCIL Limited trades on BSE under code 500730 and on NSE under the symbol NOCIL.