Micro Steel

National General Industries Ltd.

NATGENI

₹65.4

-0.15% (-0.1)

Market Cap

₹36 Cr.

P/E

38.41

National General Industries Ltd.
Overview
Financials
Benchmarking
Shareholding

National General Industries Ltd.

National General Industries Ltd.
Overview
Financials
Benchmarking
Shareholding

Price
Growth Table
Balance Sheet
Profit & Loss
Cash Flow
Cash Flow Analysis
Ratios
Quarterly Results
Reverse DCF

FAQs on National General Industries Ltd. Shareprice

Has the share price of National General Ind grown faster than its competition?

National General Ind has given lower returns compared to its competitors.
National General Ind has grown at ~-13.23% over the last 2yrs while peers have grown at a median rate of 21.3%

Is National General Ind stock expensive?

National General Ind is expensive when considering the EV/EBIDTA, however latest PE is < 3 yr avg PE.
Latest PE of National General Ind is 38.41, while 3 year average PE is 54.64.
Also latest EV/EBITDA of National General Ind is 712 while 3yr average is 10.27.

View FAQ's On Business

Growth Table

National General Industries Ltd.
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In %	1yr	2yr	3yr	4yr	5yr	6yr	7yr	8yr	9yr	10yr
Share Price CAGR	-13.83	-12.09	-46.47	23.29	19.30	18.17	15.39	13.64	10.79	7.48
TTM EPS CAGR	-68.57	106	—	—	—	—	—	—	—	—
Sales CAGR	-19.21	-12.26	-17.25	-13.61	-11.99	-8.55	-7.76	-5.86	-6.01	-4.75
PAT Margin (Abs Growth)	21.77	22.87	-7.82	27.97	21.72	19.70	18.70	15.59	18.97	23.33
PE CAGR	167	-57.81	—	—	—	—	—	—	—	—
CFO CAGR	40.24	130	—	25.11	5.64	13.80	7.54	-7.93	1.86	—

* Share price and PE growth are updated everyday. All other fields are as of latest financial year end. EPS adjusted for bonus and splits.

Balance Sheet

National General Industries Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Assets	26.10	27.56	28.63	28.78	26.24	33.25	33.91	33.52	38.32	39.74
Non Current Assets	15.67	16.60	16.68	17.05	16.21	22.37	24.06	24.17	25.49	27.70
Net Block	12.58	12.07	11.74	12.24	11.80	3.83	3.81	3.59	3.83	3.58
Capital Work in Progress	0.00	0.00	0.00	0.00	0.32	0.00	0.00	0.00	0.00	—
Intangible Assets Under Development	—	—	—	—	—	—	—	—	—	—
Long Term Investments	3.25	5.40	5.69	5.52	4.50	5.51	6.80	6.93	11.88	12.84
Current Assets	10.04	9.87	10.95	10.76	9.36	10.15	8.86	8.29	11.34	12.04
Inventory	1.80	1.72	2.69	3.51	2.39	2.71	2.63	1.60	0.92	0.86
Accounts Receivable	3.28	2.85	2.70	1.44	1.72	1.27	0.88	1.29	1.25	1.16
Short Term Investments	2.40	3.08	3.76	4.41	4.48	4.71	3.82	3.76	8.47	8.88
Cash & Bank Balances	0.27	0.01	0.00	0.02	0.03	0.28	0.15	0.03	0.06	0.06
Liabilities	26.10	27.56	28.63	28.78	26.24	33.25	33.91	33.52	38.32	39.74
Shareholders Funds	20.49	22.83	23.82	23.99	22.33	28.74	29.45	29.90	34.53	36.28
Share Capital	4.67	4.67	4.67	4.67	4.67	4.67	4.67	4.68	4.68	4.75
Reserves	15.82	18.16	19.15	19.32	17.66	24.07	24.78	25.22	29.86	31.54
Non Current Liabilities	0.89	1.21	1.14	1.04	0.76	0.84	1.18	1.23	1.94	2.10
Secured Loans	0.14	0.08	0.07	—	—	—	—	—	—	—
Unsecured Loans	0.33	—	—	—	—	—	0.10	0.07	0.34	0.26
Current Liabilities	4.72	3.52	3.67	3.75	3.15	3.66	3.29	2.39	1.85	1.35
Accounts Payable	0.49	0.51	0.67	1.33	1.14	1.24	0.81	0.56	0.24	0.62
Short Term Loans	2.19	2.05	2.11	2.00	1.77	2.19	2.17	1.50	1.00	0.17

Balance Sheet Snapshot

No data available.

Fund Flow Analysis

Increase
Decrease
Total

No data available.

*Data is as of latest FY end

Profit & Loss

National General Industries Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Sales	18.08	15.78	17.87	17.69	19.60	18.58	18.26	13.44	12.81	10.35
Operating Expenses	14.89	14.67	16.66	17.54	20.13	19.27	18.84	13.88	13.49	10.30
Raw Material	7.66	9.23	10.62	11.40	13.33	14.53	11.15	5.72	4.51	6.04
Mild Steel	7.66	9.23	10.62	11.40	13.33	14.53	11.15	5.72	0.00	—
Others	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	4.51	—
Material Cost (%)	43.26	57.99	58.83	59.00	70.17	75.47	62.92	46.10	38.16	60.46
Employee Cost	0.77	0.88	1.36	1.55	1.52	1.12	1.53	1.67	1.84	2.02
Power & Fuel Cost	2.66	2.78	3.21	4.41	3.53	2.98	4.48	4.68	4.48	—
Operating Profit	3.19	1.11	1.22	0.14	-0.53	-0.69	-0.58	-0.44	-0.68	0.05
Other Income	0.43	0.39	0.28	0.95	0.36	6.93	1.28	1.11	2.70	1.63
OPM (%)	17.62	7.04	6.80	0.80	-2.68	-3.71	-3.18	-3.24	-5.33	0.49
Depreciation and Amortisation	0.52	0.53	0.47	0.48	0.50	0.42	0.41	0.32	0.33	0.39
Interest	0.37	0.22	0.20	0.22	0.26	0.15	0.14	0.14	0.14	0.08
Profit Before Tax	2.71	0.75	0.82	0.39	-0.93	5.67	0.15	0.22	3.19	1.21
Tax	1.21	-0.06	0.14	0.09	-0.04	-0.13	0.05	-0.00	0.19	0.27
Net Profit	1.50	0.81	0.68	0.30	-0.89	5.80	0.10	0.22	3.00	0.94
Number of shares(Crs)	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0.55	0.55	—
Dividend Payout Ratio(%)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

TTM Values as of Mar 2025

Cash Flow

National General Industries Ltd.
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In Rs. Cr.	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	Mar'25
Cash from Operating Activity	2.92	0.91	0.69	1.14	0.61	-0.73	0.29	1.07	1.51	-0.28
Profit Before Tax	2.71	0.75	0.82	0.39	-0.93	5.67	0.15	0.22	3.19	1.21
Adjustments	0.48	0.47	0.38	-0.24	0.30	-6.22	0.19	0.21	-2.59	-1.16
OCF Before Working Capital	3.19	1.22	1.20	0.15	-0.63	-0.55	0.34	0.42	0.60	0.06
Working Capital Changes	0.08	0.13	-0.39	1.16	1.24	-0.19	-0.17	0.20	1.48	0.14
Taxes Paid	-0.36	-0.45	-0.12	-0.16	0.00	—	0.12	0.45	-0.58	-0.48
Cash from Investing Activity	-2.19	-0.41	-0.57	-0.77	-0.14	0.71	-0.42	-0.34	-1.15	1.29
Net Fixed Assets Purchased	-0.34	-0.08	-0.16	-0.99	-0.39	13.10	-0.37	-0.09	1.11	-0.15
Fixed Assets Purchased	-0.64	-0.24	-0.16	-0.99	-0.39	-1.10	-0.43	-0.13	-1.00	-0.15
Fixed Assets Sold	0.31	0.16	0.00	—	—	14.20	0.06	0.04	2.11	—
Investment Purchased	-3.57	-2.40	-1.36	-1.77	-0.50	-13.50	-0.21	-0.75	-5.89	—
Investment Sold	1.68	2.08	0.94	1.99	0.09	0.98	0.14	0.37	3.44	—
Interest Recieved	0.05	—	—	—	0.15	0.13	0.03	0.13	0.18	—
Dividends Recieved	—	—	—	0.00	0.01	—	0.00	0.01	0.01	0.07
Subsidiary Investments	—	—	—	—	—	—	—	—	—	—
Cash from Financing Activity	-0.61	-0.76	-0.13	-0.37	-0.47	0.27	0.00	-0.86	-0.33	-1.00
Proceeds From Shares	—	—	—	—	—	—	—	0.01	—	—
Net Long Term Borrowings	0.12	-0.39	-0.01	-0.07	0.00	0.00	0.16	-0.03	0.27	-0.08
Proceeds From Borrowings	0.12	—	—	—	—	—	0.16	—	0.27	—
Repayment From Borrowings	—	-0.39	-0.01	-0.07	—	—	—	-0.03	—	-0.08
Interest Paid	-0.31	-0.17	-0.16	-0.19	-0.24	-0.15	-0.14	-0.13	-0.13	-0.08
Dividend Paid	—	—	—	—	—	—	—	—	—	—
Net Cash Flow	0.12	-0.26	-0.01	0.01	0.01	0.25	-0.13	-0.13	0.03	0.00
Opening Cash & Cash Equivalents	0.15	0.27	0.01	0.00	0.02	0.03	0.28	0.15	0.03	0.06
Effect of FX	—	—	—	—	—	—	—	—	—	—
Closing Cash & Cash Equivalents	0.27	0.01	0.00	0.02	0.03	0.28	0.15	0.03	0.06	0.06
Net Capex (est)	0.34	0.08	0.16	0.99	0.39	-13.10	0.37	0.09	-1.11	0.15
Free Cash Flow (est)	2.58	0.82	0.54	0.15	0.23	12.37	-0.09	0.98	2.61	-0.44

Cash Flow Analysis

Increase
Decrease
Total

No data available.

Ratios

= Dominant Factor

National General Industries Ltd.
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	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Operational Ratios
Quick Ratio	1.31	1.75	2.32	2.25	1.93	2.21	2.03	1.90	2.80	5.64
Liquid Assets (Crs)	5.47	8.25	8.15	8.26	7.25	6.97	7.44	6.23	6.69	10.41
Current Liabilities (Crs)	4.18	4.72	3.52	3.67	3.75	3.15	3.66	3.29	2.39	1.85
Current Ratio	1.82	2.13	2.80	2.98	2.87	2.97	2.77	2.70	3.47	6.14
Current Assets (Crs)	7.63	10.04	9.87	10.95	10.76	9.36	10.15	8.86	8.29	11.34
Current Liabilities (Crs)	4.18	4.72	3.52	3.67	3.75	3.15	3.66	3.29	2.39	1.85
Interest Coverage Ratio	2.53	8.26	4.40	5.05	2.78	-2.58	39.15	2.04	2.61	24.59
EBIT (Crs)	1.83	3.09	0.97	1.02	0.61	-0.67	5.82	0.29	0.35	1.69
Interest Expenses (Crs)	0.57	0.37	0.22	0.20	0.22	0.26	0.15	0.14	0.14	0.14
Fixed Asset Turnover	0.98	1.05	0.92	1.03	1.04	1.07	1.88	1.82	1.37	1.25
Net Sales (Crs)	16.84	18.08	15.78	17.87	17.69	19.60	18.58	18.26	13.44	12.81
Fixed Assets (Crs)	17.24	17.19	17.15	17.30	16.93	18.36	9.86	10.05	9.85	10.23
Cash Conversion Cycle	45.82	69.03	90.90	86.87	86.84	51.46	48.49	42.33	46.75	42.61
Inventory Days	46.55	37.70	37.67	44.19	63.97	54.93	50.14	53.39	57.49	36.00
Days Receivable	36.86	49.50	65.65	55.55	42.65	29.40	29.37	21.45	29.48	36.19
Days Payable	37.60	18.17	12.41	12.87	19.77	32.86	31.01	32.50	40.22	29.58
Debt to Equity Ratio	0.16	0.13	0.09	0.09	0.08	0.08	0.08	0.08	0.05	0.04
Total Debt (Crs)	2.99	2.75	2.14	2.18	2.00	1.77	2.19	2.34	1.60	1.41
Shareholders Equity (Crs)	19.02	20.49	22.83	23.82	23.99	22.33	28.74	29.45	29.90	34.53
Free Cash Flow/Sales (%)	5.73	14.27	5.21	3.01	0.85	1.17	66.59	-0.47	7.28	20.41
Free Cash Flow(est) (Crs)	0.96	2.58	0.82	0.54	0.15	0.23	12.37	-0.09	0.98	2.61
Net Sales (Crs)	16.84	18.08	15.78	17.87	17.69	19.60	18.58	18.26	13.44	12.81
Profitability Ratios
Gross Margin (%)	46.40	56.74	42.01	41.17	41.00	29.83	24.53	37.08	53.90	61.84
Op Profit Margin (%)	7.18	17.62	7.04	6.80	0.80	-2.68	-3.71	-3.18	-3.24	-5.33
Operating Profit (Crs)	2.33	3.61	1.50	1.50	1.09	-0.17	6.24	0.70	0.68	2.02
Net Sales (Crs)	16.84	18.08	15.78	17.87	17.69	19.60	18.58	18.26	13.44	12.81
Net Profit Margin (%)	4.78	8.30	5.10	3.80	1.71	-4.54	31.25	0.56	1.66	23.42
Net Profit (Crs)	0.80	1.50	0.81	0.68	0.30	-0.89	5.80	0.10	0.22	3.00
Net Sales (Crs)	16.84	18.08	15.78	17.87	17.69	19.60	18.58	18.26	13.44	12.81
ROCE (%)	9.24	14.44	4.02	4.10	2.42	-2.89	19.68	0.95	1.13	4.63
EBIT (Crs)	1.83	3.09	0.97	1.02	0.61	-0.67	5.82	0.29	0.35	1.69
Capital Employed (Crs)	19.83	21.38	24.03	24.96	25.03	23.09	29.58	30.63	31.13	36.47
Return on Assets (%)	3.35	5.75	2.92	2.37	1.05	-3.39	17.46	0.30	0.66	7.83
Net Profit (Crs)	0.80	1.50	0.81	0.68	0.30	-0.89	5.80	0.10	0.22	3.00
Total Assets (Crs)	24.01	26.10	27.56	28.63	28.78	26.24	33.25	33.91	33.52	38.32
ROIC (%)	4.06	8.35	3.38	3.23	-1.38	-5.39	-4.82	-2.92	-3.25	-6.01
Op Profit after Taxes (Crs)	0.65	1.47	0.62	0.61	-0.27	-0.99	-1.13	-0.68	-0.77	-0.95
Invested Capital (Crs)	16.11	17.63	18.42	19.02	19.24	18.30	23.53	23.40	23.85	15.78
ROE (%)	4.23	7.32	3.53	2.85	1.26	-3.99	20.19	0.35	0.74	8.69
Net Profit Margin (%)	4.78	8.30	5.10	3.80	1.71	-4.54	31.25	0.56	1.66	23.42
Asset Turnover ratio	0.70	0.69	0.57	0.62	0.61	0.75	0.56	0.54	0.40	0.33
Equity Multiplier	1.26	1.27	1.21	1.20	1.20	1.18	1.16	1.15	1.12	1.11
Adjusted EPS	1.72	3.21	1.73	1.45	0.65	-1.91	12.43	0.22	0.48	6.42
Valuation Ratios
P/E	18.48	0.00	0.00	0.00	0.00	0.00	0.00	2,320	181	10.99
Price to Book	0.79	0.00	0.00	0.00	0.00	0.57	0.00	8.05	1.35	0.96
EV/EBITDA	7.60	1.98	4.53	4.58	6.11	-86.87	1.05	339	61.80	17.02
Dividend Yield (%)	0.00	—	—	—	—	0.00	—	0.00	0.00	0.00

Quarterly Results

National General Industries Ltd.
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In Rs. Cr.	Dec'22	Mar'23	Jun'23	Sep'23	Dec'23	Mar'24	Jun'24	Sep'24	Dec'24	Mar'25
Net Sales	3.27	2.86	3.10	2.91	3.11	3.69	2.81	2.15	2.63	2.76
Operating Expenses	3.46	2.89	3.18	2.99	3.14	3.96	2.80	2.20	2.52	2.77
Increase/Decrease in Stock	0.33	-0.30	0.14	0.14	0.17	-0.08	0.12	0.13	-0.04	0.00
Raw Material	2.31	2.46	2.28	1.92	2.11	2.71	1.81	1.05	1.51	1.67
Employee Cost	0.42	0.46	0.45	0.46	0.47	0.47	0.49	0.48	0.52	0.52
Selling and Distribution Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Electricity, Power & Fuel Cost	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gen_AdminExpenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Miscellaneous Expenses	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Profit	-0.19	-0.02	-0.08	-0.08	-0.03	-0.27	0.01	-0.06	0.10	-0.01
Other Income	0.29	0.35	0.57	0.27	0.49	1.15	0.34	0.41	0.36	0.53
Interest	0.03	0.04	0.03	0.03	0.04	0.04	0.03	0.02	0.02	0.02
PBDT	0.07	0.28	0.47	0.15	2.06	0.85	0.32	0.33	0.45	0.50
Depreciation and Amortization	0.08	0.09	0.07	0.08	0.09	0.09	0.10	0.10	0.10	0.10
Profit Before Tax	-0.00	0.19	0.40	0.07	1.97	0.76	0.22	0.23	0.35	0.41
Tax	0.06	0.00	0.10	0.04	-0.06	0.12	0.05	-0.02	0.14	0.09
Profit After Tax	-0.07	0.19	0.30	0.03	2.03	0.64	0.17	0.26	0.20	0.31
Exceptional Items	0.00	0.00	0.00	0.00	1.64	0.00	0.00	0.00	0.00	0.00
Net Profit	-0.07	0.19	0.30	0.03	2.03	0.64	0.17	0.26	0.20	0.31
Quarterly Ratios
EPS	-0.15	0.41	0.64	0.06	4.34	1.37	0.36	0.54	0.43	0.66
Operating Profit Margin	-5.88	-0.80	-2.55	-2.92	-1.00	-7.20	0.53	-2.70	4.00	-0.40
Net Profit Margin	-2.08	6.63	9.65	0.96	65.32	17.40	6.04	11.93	7.80	11.30

Reverse DCF

Earnings

Discount Rate (%)

Terminal Multiple

5 YEAR

10 YEAR

20 YEAR

47.00%

Implied Growth Rate over a 5 year period*

17.00%

Implied Growth Rate over a 10 year period*

7.50%

Implied Growth Rate over a 20 year period*

*Implied Growth calculated using Newton-Raphson method.

Learn how to use Reverse DCF

FAQs on National General Industries Ltd. Financials

How strong is National General Ind balance sheet?

Balance sheet of National General Ind is strong.
It shouldn't have solvency or liquidity issues.

Is the debt of National General Ind increasing or decreasing?

The net debt of National General Ind is decreasing.
Latest net debt of National General Ind is ₹0.36 Crs as of Mar-25.
This is less than Mar-24 when it was ₹1.3 Crs.

Is the profitablity of National General Ind improving?

The profit is oscillating.
The profit of National General Ind is ₹0.94 Crs for TTM, ₹3 Crs for Mar 2024 and ₹0.22 Crs for Mar 2023.

Does National General Ind pay decent dividends?

The company seems to be paying a very low dividend.
Investors need to see where the company is allocating its profits.
National General Ind latest dividend payout ratio is 0% and 3yr average dividend payout ratio is 0%

How has National General Ind allocated its funds?

Companies resources are allocated to majorly unproductive assets like Cash & Short Term Investments

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National General Industries Ltd.

National General Industries Ltd.

Has the share price of National General Ind grown faster than its competition?

Is National General Ind stock expensive?

How strong is National General Ind balance sheet?

Is the debt of National General Ind increasing or decreasing?

Is the profitablity of National General Ind improving?

Does National General Ind pay decent dividends?

How has National General Ind allocated its funds?

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