About
NCL Research & Financial Services Limited, a non-banking financial company, engages in finance and investment activities in India. The company invests and trades in shares and securities. It also provides secured and unsecured loans. In addition, the company trades in commodities. Further, it is involved in financing, business finance, and other capital market-related activities. The company serves micro, small, and medium enterprises (MSMEs), small and medium enterprises (SMEs), corporates, and non-corporates. NCL Research & Financial Services Limited was incorporated in 1985 and is based in Mumbai, India.
Key Metrics
as of Sep 2026Market Cap110 Cr
P/E—
Div Yield0.00 %
Book Value₹0.70
52w High₹0.97
52w Low₹0.43
Face Value₹1.00
Quarterly Results
Rs. Crores · hover row for definition| Metric | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sep 2023 | Jun 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Expenses | 0.73 | 6.59 | 1.55 | 0.36 | 0.32 | 1.27 | 2.78 | 1.03 | 4.00 | 8.23 | 0.32 | 0.64 | 0.38 |
| Other Income | 0.55 | -0.55 | 0.00 | -0.25 | 0.78 | -0.62 | -1.35 | 1.06 | 0.89 | 1.20 | 0.53 | -0.76 | -0.04 |
| Depreciation | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.02 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 1.48 | -6.87 | 0.57 | 1.31 | 2.27 | 0.11 | -0.52 | 1.50 | -1.74 | 0.15 | 1.41 | -0.22 | 0.65 |
| Tax % | 24.32 | -18.49 | 28.07 | 25.19 | 25.11 | 18.18 | -26.92 | 26.67 | 24.14 | -53.33 | 24.82 | -27.27 | 26.15 |
| Net Profit | 1.13 | -5.59 | 0.41 | 0.98 | 1.70 | 0.10 | -0.38 | 1.09 | -2.16 | 0.24 | 1.05 | -0.17 | 0.48 |
| EPS in Rs | 0.01 | -0.04 | 0.00 | 0.01 | 0.01 | 0.00 | 0.00 | 0.01 | -0.01 | 0.00 | 0.01 | 0.00 | 0.00 |
Profit & Loss
Annual · Rs. Crores| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Expenses | 8.92 | 9.96 | 9.50 | 3.00 | 0.86 | 1.84 | 2.42 | 3.24 | 2.69 | 7.41 | 4.50 | 2.35 |
| Other Income | -0.02 | 0.85 | 0.73 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.02 | 0.02 | 0.12 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation | 0.04 | 0.06 | 0.05 | 0.05 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.04 | 0.07 |
| Profit before tax | -2.82 | -0.66 | 1.99 | 0.80 | 1.06 | 0.02 | 0.02 | 0.16 | 0.12 | -0.06 | 0.13 | 0.80 |
| Tax % | -7.80 | 106.06 | 18.59 | 25.00 | 0.94 | 0.00 | 50.00 | 31.25 | 41.67 | -16.67 | 30.77 | 31.25 |
| Net Profit | -2.60 | -1.36 | 1.61 | 0.60 | 1.04 | 0.01 | 0.02 | 0.11 | 0.07 | -0.05 | 0.08 | 0.55 |
| EPS in Rs | -0.02 | -0.01 | 0.01 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Dividend Payout % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Balance Sheet
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 107.03 | 107.03 | 107.03 | 107.03 | 58.17 | 29.09 | 29.09 | 29.09 | 29.09 | 29.09 | 29.09 | 29.09 |
| Reserves | 2.62 | 5.92 | 3.70 | 17.08 | 4.82 | 32.81 | 32.79 | 32.77 | 32.65 | 32.59 | 32.65 | 32.47 |
| Other Liabilities | 12.13 | 9.54 | 2.50 | 4.94 | 0.31 | 0.27 | 0.14 | 0.67 | 0.15 | 0.21 | 0.15 | 0.55 |
| Total Liabilities | 121.78 | 122.49 | 113.23 | 129.05 | 64.30 | 62.17 | 62.02 | 62.53 | 61.89 | 61.89 | 61.89 | 62.11 |
| Fixed Assets | 0.10 | 0.12 | 0.17 | 0.17 | 0.21 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.07 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 2.94 | 2.86 | 19.72 | 40.07 | 15.38 | 11.97 | 9.90 | 7.83 | 6.75 | 6.25 | 0.00 | 0.00 |
| Other Assets | 118.74 | 119.51 | 93.34 | 88.81 | 48.71 | 50.18 | 52.10 | 54.68 | 55.12 | 55.61 | 61.86 | 62.04 |
| Total Assets | 121.78 | 122.49 | 113.23 | 129.05 | 64.30 | 62.17 | 62.02 | 62.53 | 61.89 | 61.89 | 61.89 | 62.11 |
Cash Flows
Annual · Rs. Crores — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 0.88 | -17.47 | -20.21 | -24.46 | 3.91 | 2.03 | 2.16 | -0.32 | -0.11 | -3.77 | 3.16 | 1.52 |
| Cash from Investing Activity | -0.05 | 16.90 | 20.38 | -24.54 | -3.41 | -2.08 | -2.06 | 0.00 | 0.00 | 3.06 | -2.68 | -0.73 |
| Cash from Financing Activity | -0.59 | 0.01 | -0.06 | 48.86 | -0.24 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Cash Flow | 0.24 | -0.57 | 0.11 | -0.14 | 0.26 | -0.05 | 0.09 | -0.32 | -0.11 | -0.71 | 0.48 | 0.79 |
| Free Cash Flow | 0.87 | -17.47 | -20.21 | -24.46 | 3.91 | 2.03 | 2.16 | -0.32 | -0.11 | -3.77 | 3.16 | 1.53 |
| CFO/OP % | -62.00 | 1,173.00 | -1,491.00 | -2,527.00 | 357.00 | 20,300.00 | 21,700.00 | -175.00 | -75.00 | 6,283.00 | 1,859.00 | 175.00 |
Ratios
Annual · Days / % — latest first| Metric | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 | Mar 2019 | Mar 2018 | Mar 2017 | Mar 2016 | Mar 2015 |
|---|
Corporate Actions
8 records| Action | Ex Date | Record Date | Ratio | Amount (₹) | Notes |
|---|---|---|---|---|---|
| Other | 06 May 2022 | 09 May 2022 | — | — | Right Issue of Equity Shares |
| Other | 14 Jan 2022 | — | — | — | E.G.M. |
| Split | 02 Dec 2021 | 03 Dec 2021 | 2:1 | — | |
| Bonus | 02 Dec 2021 | 03 Dec 2021 | 1:1 | — | |
| Other | 15 Nov 2021 | — | — | — | E.G.M. |
| Split | 17 Nov 2014 | 18 Nov 2014 | 10:2 | — | |
| Bonus | 16 Oct 2014 | 17 Oct 2014 | 4:1 | — | |
| Dividend | 04 Sep 2014 | — | — | 0.50 |