NCL IndustriesNSE:NCLIND -0.26%68 Operating Margin % is 8.93% as of Mar. 2026, which is 10% below its 10-year median of 9.96. GuruFocus rates NSE:NCLIND with a GF Score™ of 68/100 and a GF Value™ of ₹197.32 (Fairly Valued). The stock has 4 warning signs investors should review. Among 404 Building Materials companies, NCL Industries ranks better than 55.2% on this metric.
NCL Industries Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -12.8%.
The historical rank and industry rank for NCL Industries's Operating Margin % or its related term are showing as below:
NSE:NCLIND'
s Operating Margin % Range Over the Past 10 Years
Min: 4.79 Med: 9.96 Max: 17.31
Current: 9.09
NSE:NCLIND's Operating Margin % is ranked better than 55.2% of 404
companies
in the Building Materials industry
Industry Median: 7.65
vs NSE:NCLIND: 9.09
NCL Industries's 5-Year Average Operating Margin % Growth Rate was -12.80% per year.
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
NCL Industries Operating Margin % Related Terms
NCL Industries Operating Margin % Historical Data
* Premium members only.
The historical data trend for NCL Industries's Operating Margin % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NSE:NCLIND vs CRH, VMC, MLM: Operating Margin % Comparison
For the Building Materials subindustry, NCL Industries's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
NCL Industries Operating Margin % vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, NCL Industries's Operating Margin % distribution charts can be found below:
* The bar in red indicates where NCL Industries's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
NCL Industries's Operating Margin % for the fiscal year that ended in Mar. 2026 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NCL Industries (NSE:NCLIND) has a Operating Margin % of 8.93% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on NCL Industries and its competitors. This is 10% below median its historical median of 9.96. Over the past decade, NCL Industries' Operating Margin % has ranged from 4.79 to 17.31. According to the industry distribution chart, NCL Industries ranks #181 out of 404 companies in the Building Materials industry, placing it in the top 44.8%.
Is NCL Industries' Operating Margin % too high?
NCL Industries' current Operating Margin % of 8.93% is 10% below median its 10-year median of 9.96. Over the past 10 years, this metric has ranged from a low of 4.79 to a high of 17.31. The Building Materials industry median Operating Margin % is 7.65. NCL Industries' value of 8.93% is 16.7% above this industry median. Based on the distribution chart, NCL Industries ranks #181 out of 404 companies in the Building Materials industry, which is above the industry midpoint. Overall, NCL Industries has a GF Score™ of 68/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NCL Industries' Operating Margin % compare to CRH and VMC?
According to the Building Materials industry distribution chart, NCL Industries ranks #181 out of 404 companies for Operating Margin %. This puts NCL Industries in the upper half of its industry. The industry median Operating Margin % is 7.65. NCL Industries' value of 8.93% is 16.7% above this benchmark. Historically, NCL Industries' own Operating Margin % has ranged from 4.79 to 17.31 over the past decade. While the company's 10-year median is 9.96 vs. the industry median of 7.65, NCL Industries has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a Building Materials company?
The median Operating Margin % among Building Materials companies is 7.65, based on 404 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NCL Industries's current Operating Margin % of 8.93% is 16.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on NCL Industries and its competitors. For the Building Materials industry, the median Operating Margin % is 7.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NCL Industries's current Operating Margin % is 8.93%, which is 10% below median its own 10-year median of 9.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NCL Industries stock overvalued right now?
Based on GuruFocus' analysis, NCL Industries (NSE:NCLIND) is currently considered Fairly Valued. The stock's GF Value™ is ₹197.32, compared to a current price of ₹192.85 — trading 2.3% below its estimated fair value. The current Operating Margin % is 8.93%, which is 10% below median its 10-year median of 9.96 and 16.7% above the Building Materials industry median of 7.65. NCL Industries' overall GF Score™ is 68/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For NCL Industries (NSE:NCLIND), the current Operating Margin % is 8.93% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is NCL Industries (NSE:NCLIND) Overvalued in 2026?
Based on GuruFocus' analysis, NCL Industries stock appears to be undervalued.
The current stock price of ₹192.85 is trading 2.3% below its estimated GF Value™ of ₹197.32.
GuruFocus considers NCL Industries to be Fairly Valued.
Key valuation signals for NSE:NCLIND:
Operating Margin %: 8.93% (10% below median its 10-year median of 9.96)
GF Value™: ₹197.32 vs. price of ₹192.85 (2.3% below fair value)
Industry Position: 16.7% above the Building Materials median (#181 of 404)
No single metric tells the full story. See the NSE:NCLIND stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NCL Industries Ltd is principally engaged in the business of manufacturing and selling Cement, Ready Mix Concrete (RMC), Cement Bonded Particle Boards (CBPB), and Prefab Shelters. The company's operating segment includes Cement; Boards; Energy, Readymade Doors, and Ready Mix Concrete. It generates maximum revenue from the Cement segment. Geographically, it derives a majority of its revenue from India.
68GF Score
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