NOCIL Reports 3% Volume Growth for FY26 Amid Strategic Capex Expansion

NOCIL Reports 3% Volume Growth for FY26 Amid Strategic Capex Expansion​

NOCIL Ltd held its Q4 FY26 conference call on May 8, 2026, providing an overview of its operational and financial performance for the quarter and the full year ended March 31, 2026. Management highlighted the company's sustained momentum, successful capital expenditure plans, and a strategic focus on specialty products and cost efficiency to drive long-term growth.

During the quarter, NOCIL recorded a revenue from operations of Rs. 330 crores, reflecting a 5% growth. Domestic volumes saw a single-digit growth, which was largely attributed to the improved demand following the implementation of GST 2.0. International markets also posted single-digit growth, driven by the conversion of long-standing engagements into concrete business gains.

Reviewing the full year, the company reported an overall volume growth of 3% for FY26. The second half of the fiscal year was particularly strong, witnessing a 12% volume growth, which helped offset a 5% volume degrowth seen in the first half.

Financial Highlights and Capex Plans​

Management provided key financial performance metrics and outlined major capital investment plans.


Regarding capacity expansion, NOCIL announced multiple investments. The initial TDQ capex at Dahej, which began trial production after an announcement on March 26, 2024, has been completed, with total incurred capex expected to be less than Rs. 250 crores. Furthermore, the company announced another capex of Rs. 130 crores for establishing a comprehensive integrated facility in the specialty portion of its rubber chemicals business, expected to be completed by H1 FY28.

Operational Strategy and Market Outlook​

The management stressed that while realizations faced pressure during the quarter due to the dumping of lower-priced imports, the company remains focused on balancing price and volume in the evolving global environment.

In terms of market dynamics, the company stated that for the current fiscal year, the distribution of volume was 70% domestic and 30% exports, while the value mix was estimated at 67% domestic and 33% exports.

From a strategic perspective, the company aims to improve its operational efficiencies. The management noted that the specialty segment mix, which typically skews higher than the industry average, is expected to increase from approximately 15% to 20% after the new capacity comes online and peak utilization is achieved.

The company also provided guidance on future volume growth, stating a target of double-digit volume growth for the coming years, including FY28 and FY27.

Mr. P. Srinivasan further detailed that the Rs. 130 crores capex is largely dedicated to captive sales within the specialty segment, while the Rs. 250 crores investment is fully allocated to merchant sales.

The company confirmed that the transition to new capacity will initially see an uptick in stabilization and operating leverage improvement as the plant stabilizes.

NOCIL Stock Price Movement​

As of 10:21 AM, shares of NOCIL Limited are slipping by 0.05% in live trading, currently trading at ₹167.37. The equity is currently active on a total traded volume of 73,647 shares.