NSIL
Nalwa Sons Investments share price & financials
- Price
- ₹5,732.5
- Market cap
- ₹2.9k Cr
- Sector
- Financial Services
What Nalwa Sons Investments Limited does
Nalwa Sons Investments Limited is a Reserve Bank of India-registered Non-Banking Financial Company (NBFC), classified in the Middle Layer and not permitted to accept public deposits. Rather than lending or offering fee-based financial services, it earns primarily by holding long-term equity investments in O.P. Jindal Group companies, making its business prospects closely tied to that group and the steel industry. The company operates through direct subsidiaries and one associate company rather than any manufacturing or customer-facing operations of its own.
- RBI classification
- NBFC – Middle Layer (non-deposit taking)
- Direct subsidiaries
- 3 (Jindal Steel & Alloys Ltd, Nalwa Trading Ltd, Brahmaputra Capital & Financial Services Ltd)
- Associate companies
- 1 (Jindal Equipment Leasing and Consultancy Services Ltd)
- Primary investment focus
- Equity holdings in O.P. Jindal Group companies (steel industry)
- Regulatory registration
- Registered as NBFC with RBI under Section 45-IA of the RBI Act, 1934
Quarterly results
Q1 FY27: revenue down 8.1%, net profit up 3.8% 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 | 60 | 14 | 12 | 37 | 25 −58% | 12 −14% | 27 +125% | 34 −8% |
| EBITDA | 44 | 11 | -31 | 33 | 21 −52% | 11 +0% | 10 +132% | 34 +3% |
| Net profit | 35 | 8 | -26 | 26 | 18 −49% | 8 +0% | 6 +123% | 27 +4% |
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 −23.6% 1Y
1Y: ₹7,261 on 10 Sept 2025 → ₹5,551. High ₹8,373 (21 Oct 2025), low ₹4,730.5 (30 Mar 2026).
Financials, as filed
Revenue fell 8.7% a year over 3 years, FY23 to FY26. Operating margin narrowed to 74.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹133 Cr | ₹89 Cr | ₹126 Cr | ₹101 Cr |
| Operating profit | ₹124 Cr | ₹75 Cr | ₹63 Cr | ₹75 Cr |
| Operating margin | 93.4% | 84.3% | 50.0% | 74.3% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Net profit | ₹92 Cr | ₹57 Cr | ₹46 Cr | ₹58 Cr |
| Net margin | 69.4% | 64.0% | 36.5% | 57.4% |
| Cash from operations | ₹72 Cr | ₹41 Cr | ₹62 Cr | ₹49 Cr |
| Free cash flow | ₹72 Cr | ₹41 Cr | ₹62 Cr | ₹49 Cr |
| ROCE | 2.0% | 1.0% | 0.0% | 0.0% |
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 | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹5 Cr |
| Reserves | ₹5.1k Cr | ₹7.9k Cr | ₹8.0k Cr | ₹12.6k Cr | ₹16.3k Cr | ₹15.2k Cr |
| Borrowings | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹3 Cr |
| Other liabilities | ₹663 Cr | ₹1.5k Cr | ₹1.4k Cr | ₹2.0k Cr | ₹2.2k Cr | ₹2.0k Cr |
| Total liabilities | ₹5.8k Cr | ₹9.4k Cr | ₹9.4k Cr | ₹14.6k Cr | ₹18.5k Cr | ₹17.2k Cr |
| Fixed assets | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹5.5k Cr | ₹9.1k Cr | ₹9.1k Cr | ₹14.1k Cr | ₹18.0k Cr | ₹16.7k Cr |
| Other assets | ₹277 Cr | ₹338 Cr | ₹361 Cr | ₹407 Cr | ₹427 Cr | ₹440 Cr |
| Total assets | ₹5.8k Cr | ₹9.4k Cr | ₹9.4k Cr | ₹14.6k Cr | ₹18.5k Cr | ₹17.2k 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, the public trimmed −0.47 pp while FIIs added +0.46 pp. The shareholder count shrank 3% to 35,859.
- Promoters
- 55.6%
- FIIs
- 6.2%
- DIIs
- 0.2%
- Public
- 38.0%
Since Jun 2025
- Public −0.47 pp
- FIIs +0.46 pp
- DIIs +0.01 pp
How it drifted, 12 quarters
Over this window FIIs went from 4.9% to 6.2% — +1.3 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 55.6%, FIIs 4.9%, DIIs 0.6%, Public 38.9%.Dec '23: Promoters 55.6%, FIIs 4.8%, DIIs 0.6%, Public 38.9%.Mar '24: Promoters 55.6%, FIIs 5.0%, DIIs 0.1%, Public 39.3%.Jun '24: Promoters 55.6%, FIIs 5.1%, DIIs 0.1%, Public 39.3%.Sep '24: Promoters 55.6%, FIIs 5.4%, DIIs 0.1%, Public 38.9%.Dec '24: Promoters 55.6%, FIIs 5.0%, DIIs 0.1%, Public 39.3%.Mar '25: Promoters 55.6%, FIIs 5.5%, DIIs 0.1%, Public 38.8%.Jun '25: Promoters 55.6%, FIIs 5.7%, DIIs 0.1%, Public 38.5%.Sep '25: Promoters 55.6%, FIIs 5.8%, DIIs 0.1%, Public 38.4%.Dec '25: Promoters 55.6%, FIIs 5.7%, DIIs 0.2%, Public 38.5%.Mar '26: Promoters 55.6%, FIIs 6.2%, DIIs 0.2%, Public 38.0%.Jun '26: Promoters 55.6%, FIIs 6.2%, DIIs 0.2%, Public 38.0%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Nalwa Sons Investments Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Siddeshwari Tradex Private Limited | 13.51% | unchanged |
| OPJ Trading Private Limited | 11.12% | unchanged |
| Virtuous Tradecorp Private Limited | 11.12% | unchanged |
| Genovo Multisolutions Private Limited | 11.12% | unchanged |
| Vistra Itcl India Limited | 9.46% | unchanged |
| Ricky Ishwardas Kirpalani | 2.97% | unchanged |
| JSW Organics Private Limited | 2.50% | unchanged |
| Jindal Power Limited | 2.42% | unchanged |
| Keswani Haresh | 2.36% | unchanged |
| JSL Limited | 2.35% | unchanged |
| Acacia Institutional Partners, Lp FPI fund | 1.66% | unchanged |
| Acacia Partners, Lp FPI fund | 1.47% | 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 Nalwa Sons Investments Limited
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