NGIL
Nakoda Group of Industries financials
- Market cap
- ₹61 Cr
- Sector
- Fast Moving Consumer Goods
- Calls analysed
- 1
NGIL Q2 FY26
What went well
- Revenue increased 58% year-on-year in Q2 and 20% year-on-year in H1, reflecting board-based traction.
- EBITDA margins improved to 6.99% in Q2 and 8.61% in H1, driven by improved operational efficiency and cost management.
- Net profit stood at Rs. 0.25 crores in Q2 and Rs. 0.41 crores in H1, marking a strong financial turnaround.
What to watch
- The new energy drink product is in a very early stage, requiring at least three months to analyze exact repeat orders and market position.
- Operating cash flow was negative in FY25 and is expected to turn positive slowly, despite debt reduction.
What Nakoda Group of Industries Limited does
Nakoda Group of Industries manufactures and trades processed fruit and agro-based food products — including Tutti Frutti (papaya preserve), Karonda cherries, jams, fruit pulps, canned vegetables, dry fruits, roasted nuts, makhana, Amla-based products and inverted sugar syrup — out of its factory in Nagpur, Maharashtra. It has exported these products to the Middle East and Europe since 1998, alongside domestic supply to ice-cream, bakery, confectionery, catering, defence and pharmaceutical customers such as Haldiram's, Parle, Britannia, ITC, Amul, Hindustan Unilever, Vadilal and Havmor. In October 2025 the company entered the FMCG beverages category with the 'NO CTRL' brand of energy drinks and flavoured mixers (Mango & Peach, Kiwi & Lime, Pineapple & Coconut, Ginger Ale), sold through general trade as well as e-commerce and quick-commerce platforms like Blinkit.
Segments
- Processed fruits & agro-food products
- FMCG beverages (NO CTRL)
- Cotton and cotton bales
- Manufacturing plant capacity (finished goods)
- 20 MT/day
- Installed capacity for raw papaya processing
- 100 MT/day
- Current capacity utilization
- 8-10 MT/day
- Domestic distribution footprint
- 500+ locations across India
- States supplied in India
- 23
- International markets served
- 15
Guidance record · Q2 FY26
what the last two calls moved 6 tracked 0 delivered 0 missed 6 open- New Product Gross Margin open said Q2 FY26 Promised: Gross margin is around 40%. Q2 FY26: Target set at around 40% for the new NO CTRL energy drink.
All 6 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 20.1%, net profit up 81.2% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 9 | 14 | 14 | 7 | 15 +58% | 11 −25% | 11 −21% | 8 +20% |
| EBITDA | -0 | 1 | -2 | 1 | 1 +712% | 1 +49% | 2 +175% | 1 +22% |
| Net profit | -1 | 0 | -2 | 0 | 0 +139% | 0 | 1 +130% | 0 +81% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −6.9% 1Y
1Y: ₹35.89 on 10 Sept 2025 → ₹33.42. High ₹42.26 (27 May 2026), low ₹22.39 (23 Mar 2026).
How the price took the results
close before → close after
- Q2 FY26
- +1.9%
- 17 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 4.0% a year over 2 years, FY24 to FY26. Operating margin widened to 11.0%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹47 Cr | ₹46 Cr | ₹43 Cr |
| Operating profit | ₹0 Cr | ₹-2 Cr | ₹5 Cr |
| Operating margin | 0.8% | -4.3% | 11.0% |
| Interest | ₹2 Cr | ₹2 Cr | ₹1 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr | ₹1 Cr |
| Net profit | ₹-2 Cr | ₹-4 Cr | ₹2 Cr |
| Net margin | -4.5% | -7.9% | 3.5% |
| Cash from operations | ₹0 Cr | ₹-1 Cr | ₹4 Cr |
| Free cash flow | ₹-0 Cr | ₹-4 Cr | ₹2 Cr |
| ROCE | -1.8% | -8.1% | 8.4% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹11 Cr | ₹11 Cr | ₹11 Cr | ₹13 Cr | ₹16 Cr | ₹18 Cr |
| Reserves | ₹3 Cr | ₹4 Cr | ₹5 Cr | ₹7 Cr | ₹17 Cr | ₹11 Cr |
| Borrowings | ₹24 Cr | ₹23 Cr | ₹22 Cr | ₹18 Cr | ₹14 Cr | ₹13 Cr |
| Other liabilities | ₹1 Cr | ₹4 Cr | ₹4 Cr | ₹3 Cr | ₹5 Cr | ₹3 Cr |
| Total liabilities | ₹40 Cr | ₹42 Cr | ₹41 Cr | ₹41 Cr | ₹52 Cr | ₹45 Cr |
| Fixed assets | ₹13 Cr | ₹13 Cr | ₹12 Cr | ₹12 Cr | ₹14 Cr | ₹14 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹27 Cr | ₹29 Cr | ₹29 Cr | ₹29 Cr | ₹37 Cr | ₹31 Cr |
| Total assets | ₹40 Cr | ₹42 Cr | ₹41 Cr | ₹41 Cr | ₹52 Cr | ₹45 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, promoters added +0.89 pp while the public trimmed −0.89 pp. The shareholder count shrank 18% to 7,046.
- Promoters
- 57.3%
- Public
- 42.7%
Since Jun 2025
- Promoters +0.89 pp
- Public −0.89 pp
- FIIs 0.00 pp
How it drifted, 12 quarters
Over this window promoters fell from 65.2% to 57.3% — −7.9 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 65.2%, Public 34.8%.Dec '23: Promoters 60.4%, Public 39.6%.Mar '24: Promoters 60.4%, Public 39.6%.Jun '24: Promoters 56.7%, FIIs 0.0%, Public 43.3%.Sep '24: Promoters 56.4%, Public 43.6%.Dec '24: Promoters 56.4%, Public 43.6%.Mar '25: Promoters 56.4%, Public 43.6%.Jun '25: Promoters 56.4%, Public 43.6%.Sep '25: Promoters 56.4%, FIIs 0.1%, Public 43.5%.Dec '25: Promoters 56.4%, Public 43.6%.Mar '26: Promoters 57.3%, Public 42.7%.Jun '26: Promoters 57.3%, Public 42.7%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- L7 Hitech Private Limited +0.22 pp 1.57% held
- Mahendra Girdharilal Wadhwani +0.15 pp 1.23% held
The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Nakoda Group of Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Pravin Navalchand Choudhary | 30.22% | unchanged |
| Pooja Choudhary | 15.40% | unchanged |
| Manju Choudhary | 6.54% | unchanged |
| Jayesh Choudhary | 5.13% | unchanged |
| Shree Beereshwar Cooperative Credit Society Ltd Multi State | 2.40% | unchanged |
| Kunal Ahuja | 2.14% | −1.00 pp |
| L7 Hitech Private Limited | 1.57% | +0.22 pp |
| Mahendra Girdharilal Wadhwani | 1.23% | +0.15 pp |
| Mnm Stock Broking Private Limited | 1.15% | unchanged |
| Vidhi Rajesh Jain | 0.00% | unchanged |
| Kishor Hemraj Bardia | 0.00% | unchanged |
| Ashok Hemraj Bardia | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Nakoda Group of Industries Limited
Guides on how to read this kind of business and the numbers that matter.