Nakoda Group of Industries Q2 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹77 Cr
- P/E
- 47.31
- ROE
- 5.28%
- PEG
- 2.62
- Price to sales
- 1.73
- Debt to equity
- 0.45
- 52W high / low
- ₹44.0 / ₹22.4
- Sales growth (5Y)
- 7.10%
- EBITDA margin
- 11.06%
- Net profit margin
- 3.45%
- Promoter holding
- 57.29%
- Sales (last year)
- ₹45 Cr
Incorporated in 2013, Nakoda Group of Industries Ltd does manufacturing, selling, distribution and trading of tutty fruity, cotton bales and other agriculture commodities[1]
Guidance scorecard · Q2 FY26 call
What Nakoda Group of Industries Ltd's management guided
and where it ranks in Food Products
RevenueQ2 FY26 call
20–40%- The FMCG beverage vertical, especially the energy drink and flavored mixer segments, is expected to scale up with deeper distribution and new SKUs, including new flavors like Ginger Ale and Kiwi & Lime.
- Revenue growth for FY 26-27 is projected to almost double as the company sets up new distribution channels and scales the beverage segment.
- Initial revenue from energy drinks started in Q3 FY 25-26 with strong early consumer response and repeat orders anticipated by next quarter.
- The core agro-based business remains stable with expected volume growth driven by operational efficiencies and expanded market reach.
- The company targets growth in metro and tier 1 cities first, followed by tier 2 and tier 3 regions through additional distributors.
2 more points from Nakoda Group of Industries Ltd's call on revenue
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MarginsQ2 FY26 call
Up 2%+See what Nakoda Group of Industries Ltd said on margins — free account, 30 seconds.
CapexQ2 FY26 call
None planned- Currently, Nakoda Group is not planning any additional CAPEX for increasing capacity, particularly in the tutti-frutti business where around 60%-65% finished goods capacity is utilized.
- The focus is on better utilization of existing capacity before considering expansion.
- The company is emphasizing operational enhancements, automation, digital upgrades, and tighter expense control to boost productivity and reduce costs.
- For the new beverage vertical (energy drinks and mixers), contract manufacturing agreements are in place with sufficient capacity (24,000 cans/day) to meet market demand, indicating no immediate need for CAPEX there.
2 more points from Nakoda Group of Industries Ltd's call on capex
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FundraisingQ2 FY26 call
See what Nakoda Group of Industries Ltd said on fundraising — free account, 30 seconds.
Order bookQ2 FY26 call
- For the new energy drink launched in October 2025, early responses are positive with small repeat orders already being received.
- The company expects to analyze repeat order trends over the next quarter to better understand sales momentum.
- The beverage segment, including mineral water and mixers, is in the early phase as of FY 25-26, with anticipated exponential revenue growth from FY 26-27 as distribution channels develop.
- Existing business continues to perform well, contributing full revenues in Q2 before new product revenues contribute in Q3 and thereafter.
Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Food Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Food Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹459 Cr | 7.9 | |
| 2 | 40%+ | Up 2%+ | ₹454 Cr | 79.8 | |
| 3 | 40%+ | Flat | ₹1,061 Cr | 48.2 | |
| 4 | 40%+ | Flat | ₹157 Cr | 10.5 | |
| 5 | 20–40% | Up 2%+ | ₹671 Cr | 48.3 | |
| 6 | 20–40% | Up 2%+ | ₹265 Cr | 7.8 |
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Pro shows every company guiding 40%+ revenue growth →Full Food Products rankingFinancials of Nakoda Group of Industries Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Nakoda Group of Industries Ltd
Shareholding breakup across reporting periods.
| Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 60.35% | 60.35% | 56.72% | 56.40% | 56.40% | 56.40% | 56.40% | 56.40% | 56.40% | 57.29% | 57.29% | 57.29% |
| FIIs + | 0.00% | 0.00% | 0.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public + | 39.64% | 39.65% | 43.26% | 43.61% | 43.60% | 43.60% | 43.59% | 43.55% | 43.59% | 42.71% | 42.70% | 42.70% |
| No. of Shareholders | 5,135 | 7,558 | 8,365 | 8,824 | 8,491 | 8,225 | 8,603 | 8,445 | 8,272 | 7,482 | 7,046 | 6,775 |
Pros & Cons
Nakoda Group of Industries Ltd
Key positives and risks surfaced from the company insights section.
- The company has delivered a poor sales growth of 7.10% over past five years.
- Company has a low return on equity of -6.12% over last 3 years.
- Promoter holding has decreased over last 3 years: -7.91%
- The company has delivered a poor sales growth of 7.10% over past five years.
- Company has a low return on equity of -6.12% over last 3 years.
- Promoter holding has decreased over last 3 years: -7.91%
Financials of Nakoda Group of Industries Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 12.72 | 14.46 | 10.65 | 8.66 | 9.38 | 14.23 | 13.98 | 6.92 | 14.79 | 10.65 | 11.10 | 8.31 | 10.59 |
| Expenses + | 12.64 | 14.39 | 11.47 | 8.77 | 9.55 | 13.51 | 16.42 | 6.09 | 13.75 | 9.58 | 9.26 | 7.30 | 9.39 |
| Operating Profit | 0.08 | 0.07 | -0.82 | -0.11 | -0.17 | 0.72 | -2.44 | 0.83 | 1.04 | 1.07 | 1.84 | 1.01 | 1.20 |
| OPM % | 0.63% | 0.48% | -7.70% | -1.27% | -1.81% | 5.06% | -17.45% | 11.99% | 7.03% | 10.05% | 16.58% | 12.15% | 11.33% |
| Other Income + | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.49 | 0.48 | 0.62 | 0.33 | 0.41 | 0.40 | 0.55 | 0.33 | 0.33 | 0.31 | 0.37 | 0.28 | 0.29 |
| Depreciation | 0.24 | 0.31 | 0.28 | 0.28 | 0.29 | 0.32 | 0.28 | 0.30 | 0.37 | 0.29 | 0.36 | 0.34 | 0.34 |
| Profit before tax | -0.65 | -0.72 | -1.71 | -0.72 | -0.86 | 0.00 | -3.27 | 0.20 | 0.34 | 0.47 | 1.11 | 0.39 | 0.57 |
| Tax % | -24.62% | -25.00% | -26.90% | -23.61% | -26.74% | -25.38% | 25.00% | 26.47% | 25.53% | 32.43% | 25.64% | 24.56% | |
| Net Profit + | -0.49 | -0.54 | -1.25 | -0.56 | -0.64 | 0.00 | -2.44 | 0.16 | 0.25 | 0.35 | 0.74 | 0.29 | 0.43 |
| EPS in Rs | -0.28 | -0.30 | -0.70 | -0.31 | -0.36 | 0.00 | -1.37 | 0.09 | 0.14 | 0.20 | 0.42 | 0.17 | 0.25 |
Financials of Nakoda Group of Industries Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 0.00 | 0.00 | 23.71 | 48.30 | 51.98 | 25.09 | 30.84 | 59.62 | 54.60 | 47.12 | 46.25 | 43.46 | 40.65 |
| Expenses + | 0.00 | 0.00 | 21.78 | 44.40 | 48.08 | 22.09 | 26.32 | 55.13 | 50.36 | 46.73 | 48.24 | 38.68 | 35.53 |
| Operating Profit | 0.00 | 0.00 | 1.93 | 3.90 | 3.90 | 3.00 | 4.52 | 4.49 | 4.24 | 0.39 | -1.99 | 4.78 | 5.12 |
| OPM % | 8.14% | 8.07% | 7.50% | 11.96% | 14.66% | 7.53% | 7.77% | 0.83% | -4.30% | 11.00% | 12.60% | ||
| Other Income + | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.51 | 0.05 | 0.36 | 0.06 | 0.01 | 0.01 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 1.09 | 1.88 | 2.07 | 2.42 | 2.15 | 2.07 | 2.13 | 2.18 | 1.70 | 1.34 | 1.25 |
| Depreciation | 0.00 | 0.00 | 0.11 | 0.62 | 0.87 | 0.98 | 1.05 | 0.97 | 0.99 | 1.08 | 1.18 | 1.32 | 1.33 |
| Profit before tax | 0.00 | 0.00 | 0.73 | 1.41 | 0.97 | 0.11 | 1.37 | 1.81 | 1.18 | -2.86 | -4.86 | 2.12 | 2.54 |
| Tax % | 30.14% | 29.08% | 9.28% | 81.82% | 3.65% | 6.08% | 22.88% | -25.87% | -25.10% | 29.25% | |||
| Net Profit + | 0.00 | 0.00 | 0.51 | 1.00 | 0.88 | 0.03 | 1.32 | 1.70 | 0.91 | -2.12 | -3.64 | 1.50 | 1.81 |
| EPS in Rs | 0.31 | 0.61 | 0.39 | 0.01 | 0.59 | 0.76 | 0.41 | -1.19 | -2.04 | 0.86 | 1.04 | ||
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 9.82% | 18.35% | 0.00% | 0.00% | 0.00% |
Financials of Nakoda Group of Industries Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 5.00 | 5.00 | 6.85 | 6.85 | 11.13 | 11.13 | 11.13 | 12.73 | 15.72 | 17.54 | 17.54 |
| Reserves | 0.00 | 0.00 | 0.51 | 1.51 | 7.01 | 7.04 | 3.36 | 3.81 | 4.58 | 6.64 | 12.17 | 11.43 | 18.26 |
| Borrowings + | 0.01 | 0.56 | 16.39 | 24.97 | 20.65 | 21.74 | 24.44 | 22.84 | 22.00 | 18.27 | 12.39 | 12.93 | 12.68 |
| Other Liabilities + | 0.00 | 0.01 | 5.95 | 2.35 | 3.37 | 2.73 | 1.48 | 3.77 | 3.73 | 3.04 | 1.61 | 2.81 | 2.83 |
| Total Liabilities | 0.02 | 0.58 | 27.85 | 33.83 | 37.88 | 38.36 | 40.41 | 41.55 | 41.44 | 40.68 | 41.89 | 44.71 | 51.31 |
| Fixed Assets + | 0.00 | 0.00 | 6.92 | 13.38 | 12.90 | 14.46 | 13.46 | 12.54 | 12.31 | 11.53 | 12.95 | 14.03 | 13.54 |
| CWIP | 0.00 | 0.00 | 0.81 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.20 | 0.24 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets + | 0.02 | 0.58 | 20.12 | 20.45 | 24.98 | 23.90 | 26.95 | 29.01 | 29.13 | 28.95 | 28.70 | 30.68 | 37.77 |
| Total Assets | 0.02 | 0.58 | 27.85 | 33.83 | 37.88 | 38.36 | 40.41 | 41.55 | 41.44 | 40.68 | 41.89 | 44.71 | 51.31 |
Financials of Nakoda Group of Industries Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 0.00 | -0.17 | -10.38 | -0.55 | 0.72 | 3.43 | -0.45 | 5.08 | 4.20 | 0.29 | -1.42 | 4.25 |
| Cash from Investing Activity + | 0.00 | -0.39 | -8.63 | -5.22 | -0.78 | -2.52 | -0.02 | -0.06 | -0.76 | -0.51 | -1.59 | -2.19 |
| Cash from Financing Activity + | 0.00 | 0.56 | 19.18 | 5.75 | 0.17 | -0.85 | 0.23 | -4.50 | -3.70 | 0.16 | 3.14 | -2.44 |
| Net Cash Flow | 0.00 | 0.00 | 0.17 | -0.02 | 0.11 | 0.06 | -0.24 | 0.52 | -0.26 | -0.06 | 0.13 | -0.38 |
| Free Cash Flow | 0.00 | -0.17 | -18.23 | -6.81 | 0.32 | 0.90 | -0.50 | 5.03 | 3.44 | -0.22 | -4.05 | 2.09 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -538% | -14% | 18% | 114% | -10% | 115% | 98% | 72% | 71% | 90% |
Financials of Nakoda Group of Industries Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 36.33 | 19.42 | 30.12 | 81.03 | 86.52 | 36.79 | 32.29 | 60.58 | 41.59 | 46.78 | ||
| Inventory Days | 251.42 | 105.16 | 130.51 | 247.66 | 263.46 | 124.77 | 144.65 | 151.71 | 114.68 | 197.12 | ||
| Days Payable | 87.31 | 11.50 | 15.49 | 23.35 | 11.21 | 10.54 | 11.35 | 11.79 | 8.33 | 17.67 | ||
| Cash Conversion Cycle | 200.44 | 113.08 | 145.14 | 305.34 | 338.77 | 151.03 | 165.59 | 200.50 | 147.95 | 226.23 | ||
| Working Capital Days | 46.18 | 39.98 | 57.30 | 121.18 | 147.11 | 74.81 | 64.71 | 80.79 | 118.06 | 129.93 | ||
| ROCE % | 0.00% | 16.20% | 12.33% | 9.21% | 7.21% | 9.44% | 10.12% | 8.77% | -1.80% | -8.11% | 8.42% |
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