NACL falls 12.29% as Q2 margin trails commodity-sector peers
Interest of Rs 7.24 cr and depreciation of Rs 8.89 cr outweighed operating profit, leaving a consolidated net loss of Rs 1.42 cr.
Filed 06 Nov 2026, 11:08 IST · NACL Industries Ltd (NACLIND)
Key takeaways
- NACL Industries reported a consolidated net loss of Rs 1.42 cr in Q2FY27 despite positive operating profit of Rs 11.89 cr.
- Operating margin of 3.18% was 9.67 percentage points below the 12.85% median for 136 reporting commodity-sector peers.
- The stock fell -12.29% on the filing day, with traded volume at 8.32 times the reference level.
Price around the results
Positive operating profit did not prevent a net loss
The quarter generated operating profit, but interest of Rs 7.24 cr and depreciation of Rs 8.89 cr pushed profit before tax to a loss of Rs 0.73 cr. A tax charge of Rs 0.69 cr widened the consolidated net loss to Rs 1.42 cr. Other income of Rs 3.51 cr offered only limited support.
Operating margin lagged the commodity-sector median
NACL Industries reported a 3.18% operating margin, 9.67 percentage points below the 12.85% median among 136 commodity-sector peers that had reported the quarter. The narrow operating cushion left the company exposed to its interest and depreciation burden.
Shares dropped sharply after the filing
The stock fell -12.29% on 6 November, while the opening gap was -0.52%. Volume was 8.32 times the reference level, indicating unusually active trading during the reaction.
Q2FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹374 cr |
| Other income | ₹4 cr |
| Expenses | ₹362 cr |
| Operating profit | ₹12 cr |
| Operating margin (%) | 3.18% |
| Interest | ₹7 cr |
| Depreciation | ₹9 cr |
| Profit before tax | ₹-1 cr |
| Tax | ₹1 cr |
| Net profit | ₹-1 cr |
| EPS (₹) | ₹-0.06 |
Operating margin of 3.18% compares with a Commodities sector median of 12.85% across 136 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -12.29% | -14.31% |
Volume on the results session was 8.32× its 20-day average.
What to watch
- Whether operating margin improves from 3.18% toward the 12.85% sector median.
- Whether operating profit can cover interest of Rs 7.24 cr and depreciation of Rs 8.89 cr.
- Whether the tax charge remains a drag after the Rs 0.69 cr charge in Q2FY27.