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NCL IndustriesNSE:NCLIND +0.31%73 Return-on-Tangible-Equity is 18.05% as of Mar. 2026, which is 62% above its 10-year median of 11.16. GuruFocus rates NSE:NCLIND with a GF Score™ of 73/100 and a GF Value™ of ₹196.95 (Fairly Valued). The stock has 4 warning signs investors should review. Among 397 Building Materials companies, NCL Industries ranks better than 70.28% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. NCL Industries's annualized net income for the quarter that ended in Mar. 2026 was ₹1,679 Mil. NCL Industries's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹9,302 Mil. Therefore, NCL Industries's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 18.05%.
The historical rank and industry rank for NCL Industries's Return-on-Tangible-Equity or its related term are showing as below:
NSE:NCLIND'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 2.99 Med: 11.16 Max: 26.83
Current: 10.77
During the past 13 years, NCL Industries's highest Return-on-Tangible-Equity was 26.83%. The lowest was 2.99%. And the median was 11.16%.
NSE:NCLIND's Return-on-Tangible-Equity is ranked better than 70.28% of 397
companies
in the Building Materials industry
Industry Median: 5.06
vs NSE:NCLIND: 10.77
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
NCL Industries Return-on-Tangible-Equity Related Terms
NCL Industries Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for NCL Industries's Return-on-Tangible-Equity 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: Return-on-Tangible-Equity Comparison
For the Building Materials subindustry, NCL Industries's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Building Materials Industry
For the Building Materials industry and Basic Materials sector, NCL Industries's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where NCL Industries's Return-on-Tangible-Equity falls into.
* 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 18.05% mean?
NCL Industries (NSE:NCLIND) has a Return-on-Tangible-Equity of 18.05% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on NCL Industries and its competitors. This is 62% above median its historical median of 11.16. Over the past decade, NCL Industries' Return-on-Tangible-Equity has ranged from 2.99 to 26.83. According to the industry distribution chart, NCL Industries ranks #118 out of 397 companies in the Building Materials industry, placing it in the top 29.7%.
Is NCL Industries' Return-on-Tangible-Equity too high?
NCL Industries' current Return-on-Tangible-Equity of 18.05% is 62% above median its 10-year median of 11.16. Over the past 10 years, this metric has ranged from a low of 2.99 to a high of 26.83. The Building Materials industry median Return-on-Tangible-Equity is 5.06. NCL Industries' value of 18.05% is 256.7% above this industry median. Based on the distribution chart, NCL Industries ranks #118 out of 397 companies in the Building Materials industry, which is above the industry midpoint. Overall, NCL Industries has a GF Score™ of 73/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NCL Industries' Return-on-Tangible-Equity compare to CRH and VMC?
According to the Building Materials industry distribution chart, NCL Industries ranks #118 out of 397 companies for Return-on-Tangible-Equity. This puts NCL Industries in the upper half of its industry. The industry median Return-on-Tangible-Equity is 5.06. NCL Industries' value of 18.05% is 256.7% above this benchmark. Historically, NCL Industries' own Return-on-Tangible-Equity has ranged from 2.99 to 26.83 over the past decade. While the company's 10-year median is 11.16 vs. the industry median of 5.06, 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 Return-on-Tangible-Equity for a Building Materials company?
The median Return-on-Tangible-Equity among Building Materials companies is 5.06, based on 397 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NCL Industries's current Return-on-Tangible-Equity of 18.05% is 256.7% 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on NCL Industries and its competitors. For the Building Materials industry, the median Return-on-Tangible-Equity is 5.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NCL Industries's current Return-on-Tangible-Equity is 18.05%, which is 62% above median its own 10-year median of 11.16. 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 ₹196.95, compared to a current price of ₹188.39 — trading 4.3% below its estimated fair value. The current Return-on-Tangible-Equity is 18.05%, which is 62% above median its 10-year median of 11.16 and 256.7% above the Building Materials industry median of 5.06. NCL Industries' overall GF Score™ is 73/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For NCL Industries (NSE:NCLIND), the current Return-on-Tangible-Equity is 18.05% 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 ₹188.39 is trading 4.3% below its estimated GF Value™ of ₹196.95.
GuruFocus considers NCL Industries to be Fairly Valued.
Key valuation signals for NSE:NCLIND:
Return-on-Tangible-Equity: 18.05% (62% above median its 10-year median of 11.16)
GF Value™: ₹196.95 vs. price of ₹188.39 (4.3% below fair value)
Industry Position: 256.7% above the Building Materials median (#118 of 397)
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.
73GF Score
Get the complete analysis for NSE:NCLIND
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