Board Change • Jun 12
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Non-Executive Independent Director Kanupriya Gupta was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • May 30
Full year 2026 earnings released: ₹0.93 loss per share (vs ₹1.99 profit in FY 2025) Full year 2026 results: ₹0.93 loss per share (down from ₹1.99 profit in FY 2025). Revenue: ₹109.5m (down 8.5% from FY 2025). Net loss: ₹4.79m (down 151% from profit in FY 2025). Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Announcement • May 22
National General Industries Limited to Report Q4, 2026 Results on May 28, 2026 National General Industries Limited announced that they will report Q4, 2026 results on May 28, 2026 Board Change • Mar 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 2 highly experienced directors. Non-Executive Independent Director Kanupriya Gupta was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 14
Third quarter 2026 earnings released: EPS: ₹0.33 (vs ₹0.43 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.33 (down from ₹0.43 in 3Q 2025). Revenue: ₹33.2m (up 11% from 3Q 2025). Net income: ₹1.49m (down 27% from 3Q 2025). Profit margin: 4.5% (down from 6.8% in 3Q 2025). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Announcement • Feb 05
National General Industries Limited to Report Q3, 2026 Results on Feb 12, 2026 National General Industries Limited announced that they will report Q3, 2026 results on Feb 12, 2026 New Risk • Jan 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹197.1m market cap, or US$2.14m). Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Profit margins are more than 30% lower than last year (0.5% net profit margin). Revenue is less than US$5m (₹108m revenue, or US$1.2m). Reported Earnings • Nov 16
Second quarter 2026 earnings released: ₹0.44 loss per share (vs ₹0.52 profit in 2Q 2025) Second quarter 2026 results: ₹0.44 loss per share (down from ₹0.52 profit in 2Q 2025). Revenue: ₹25.4m (flat on 2Q 2025). Net loss: ₹2.09m (down 181% from profit in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Announcement • Nov 05
National General Industries Limited to Report Q2, 2026 Results on Nov 14, 2025 National General Industries Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Nov 14, 2025 Announcement • Sep 05
National General Industries Limited, Annual General Meeting, Sep 30, 2025 National General Industries Limited, Annual General Meeting, Sep 30, 2025, at 13:30 Indian Standard Time. Reported Earnings • Aug 12
First quarter 2026 earnings released: ₹0.53 loss per share (vs ₹0.38 profit in 1Q 2025) First quarter 2026 results: ₹0.53 loss per share (down from ₹0.38 profit in 1Q 2025). Revenue: ₹19.7m (down 38% from 1Q 2025). Net loss: ₹2.52m (down 249% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has fallen by 37% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Aug 11
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹55.65, the stock trades at a trailing P/E ratio of 28x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total loss to shareholders of 77% over the past three years. Announcement • Aug 09
National General Industries Limited to Report Q1, 2026 Results on Aug 11, 2025 National General Industries Limited announced that they will report Q1, 2026 results on Aug 11, 2025 New Risk • Aug 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹251.5m market cap, or US$2.87m). Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Profit margins are more than 30% lower than last year (7.9% net profit margin). Revenue is less than US$5m (₹120m revenue, or US$1.4m). Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹64.85, the stock trades at a trailing P/E ratio of 32.6x. Average trailing P/E is 23x in the Metals and Mining industry in India. Total loss to shareholders of 85% over the past three years. Reported Earnings • May 30
Full year 2025 earnings released: EPS: ₹1.99 (vs ₹5.43 in FY 2024) Full year 2025 results: EPS: ₹1.99 (down from ₹5.43 in FY 2024). Revenue: ₹119.8m (down 21% from FY 2024). Net income: ₹9.43m (down 69% from FY 2024). Profit margin: 7.9% (down from 20% in FY 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 48% per year, which means it is significantly lagging earnings. Announcement • May 20
National General Industries Limited to Report Q4, 2025 Results on May 28, 2025 National General Industries Limited announced that they will report Q4, 2025 results on May 28, 2025 New Risk • Mar 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹243.5m market cap, or US$2.80m). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Profit margins are more than 30% lower than last year (9.5% net profit margin). Revenue is less than US$5m (₹134m revenue, or US$1.5m). New Risk • Feb 14
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 9.5% Last year net profit margin: 19% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹305.6m market cap, or US$3.52m). Minor Risks Profit margins are more than 30% lower than last year (9.5% net profit margin). Revenue is less than US$5m (₹134m revenue, or US$1.5m). Announcement • Feb 07
National General Industries Limited to Report Q3, 2025 Results on Feb 12, 2025 National General Industries Limited announced that they will report Q3, 2025 results on Feb 12, 2025 Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: ₹0.52 (vs ₹0.06 in 2Q 2024) Second quarter 2025 results: EPS: ₹0.52 (up from ₹0.06 in 2Q 2024). Revenue: ₹25.6m (down 20% from 2Q 2024). Net income: ₹2.57m (up ₹2.28m from 2Q 2024). Profit margin: 10.0% (up from 0.9% in 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has fallen by 21% per year, which means it is performing significantly worse than earnings. Announcement • Nov 06
National General Industries Limited to Report Q2, 2025 Results on Nov 14, 2024 National General Industries Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Announcement • Sep 09
National General Industries Limited, Annual General Meeting, Sep 30, 2024 National General Industries Limited, Annual General Meeting, Sep 30, 2024, at 13:30 Indian Standard Time. Reported Earnings • Aug 15
First quarter 2025 earnings released: EPS: ₹0.38 (vs ₹0.64 in 1Q 2024) First quarter 2025 results: EPS: ₹0.38 (down from ₹0.64 in 1Q 2024). Revenue: ₹31.5m (down 14% from 1Q 2024). Net income: ₹1.70m (down 43% from 1Q 2024). Profit margin: 5.4% (down from 8.1% in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 31% per year, which means it is well ahead of earnings. Announcement • Aug 07
National General Industries Limited to Report Q1, 2025 Results on Aug 13, 2024 National General Industries Limited announced that they will report Q1, 2025 results on Aug 13, 2024 New Risk • Jul 02
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 9.6% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (9.6% average weekly change). Market cap is less than US$10m (₹344.0m market cap, or US$4.12m). Minor Risks Large one-off items impacting financial results. Revenue is less than US$5m (₹153m revenue, or US$1.8m). Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹6.41 (vs ₹0.48 in FY 2023) Full year 2024 results: EPS: ₹6.41 (up from ₹0.48 in FY 2023). Revenue: ₹152.8m (up 5.6% from FY 2023). Net income: ₹30.0m (up ₹27.8m from FY 2023). Profit margin: 20% (up from 1.5% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. Announcement • May 23
National General Industries Limited to Report Q4, 2024 Results on May 30, 2024 National General Industries Limited announced that they will report Q4, 2024 results on May 30, 2024 Buy Or Sell Opportunity • May 22
Now 27% undervalued Over the last 90 days, the stock has risen 3.9% to ₹79.48. The fair value is estimated to be ₹109, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹82.82, the stock trades at a trailing P/E ratio of 15.2x. Average trailing P/E is 25x in the Metals and Mining industry in India. Total returns to shareholders of 192% over the past three years. New Risk • Apr 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (₹365.2m market cap, or US$4.38m). Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Large one-off items impacting financial results. Revenue is less than US$5m (₹136m revenue, or US$1.6m). Reported Earnings • Feb 17
Third quarter 2024 earnings released: EPS: ₹4.34 (vs ₹0.14 loss in 3Q 2023) Third quarter 2024 results: EPS: ₹4.34 (up from ₹0.14 loss in 3Q 2023). Revenue: ₹35.9m (up 1.0% from 3Q 2023). Net income: ₹20.3m (up ₹21.0m from 3Q 2023). Profit margin: 56% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 52% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. Announcement • Feb 07
National General Industries Limited to Report Q3, 2024 Results on Feb 14, 2024 National General Industries Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Announcement • Nov 04
National General Industries Limited to Report Q2, 2024 Results on Nov 09, 2023 National General Industries Limited announced that they will report Q2, 2024 results on Nov 09, 2023 Announcement • Sep 06
National General Industries Limited, Annual General Meeting, Sep 30, 2023 National General Industries Limited, Annual General Meeting, Sep 30, 2023, at 13:30 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statement of the Company for the financial year ended 31 March, 2023, the Report of the Board of Directors' and Auditors' thereon; to appoint Director in place of Mr. Vasu Modi (DIN:00051696) who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment; and to consider other business matters. Reported Earnings • Aug 19
First quarter 2024 earnings released: EPS: ₹0.64 (vs ₹0.57 loss in 1Q 2023) First quarter 2024 results: EPS: ₹0.64 (up from ₹0.57 loss in 1Q 2023). Revenue: ₹36.7m (down 21% from 1Q 2023). Net income: ₹2.99m (up ₹5.65m from 1Q 2023). Profit margin: 8.1% (up from net loss in 1Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Announcement • Aug 06
National General Industries Limited to Report Q1, 2024 Results on Aug 14, 2023 National General Industries Limited announced that they will report Q1, 2024 results on Aug 14, 2023 Reported Earnings • Feb 17
Third quarter 2023 earnings released: ₹0.14 loss per share (vs ₹0.27 loss in 3Q 2022) Third quarter 2023 results: ₹0.14 loss per share (improved from ₹0.27 loss in 3Q 2022). Revenue: ₹35.6m (down 28% from 3Q 2022). Net loss: ₹672.0k (loss narrowed 48% from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 15
National General Industries Limited Announces Board Changes National General Industries Limited announced that Board Meeting held on 14 February, 2023, has appointed Mrs. Kanupriya Gupta as an Additional Director designated as Non-Executive Independent Director of the Company, with effect from 14th February, 2023. Mrs. Sanjana Bharat has resigned from the post of Non-Executive Independent Director of the Company with effect from 14th February, 2023. Please note that consequent to the aforesaid changes in Directors of the Company, the present composition of the Board of Directors of the Company is as follows:- Mr. Pawan Kumar Modi: Chairman cum Managing Director & CFO, Mr. Vasu Modi: Non-executive Director, Mr. Manhar Modi: Non-executive Director, Mr. Anirudh Vimalkumar Goenka: Non-executive Independent Director, Mr. Anantshri Gupta: Non-executive Independent Director, Mrs. Kanupriya Gupta: Non-executive Independent Director. Please note that consequent to the aforesaid changes in Directors of the Company, the Audit Committee, Nomination and Remuneration Committee and Stakeholders Relationship Committee has been re-constituted as follows:- Mr. Anirudh Vimalkumar Goenka: Non-executive Independent Director, Mrs. Kanupriya Gupta: Non-executive Independent Director, Mr. Vasu Modi: Non-executive Director. Mrs. Kanupriya Gupta is a B.Com (Hons) from Kolkata University having 18 years experience in the accounts and finance. Announcement • Feb 07
National General Industries Limited to Report Q3, 2023 Results on Feb 14, 2023 National General Industries Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 19
Second quarter 2023 earnings released: EPS: ₹0.78 (vs ₹0.51 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.78 (up from ₹0.51 in 2Q 2022). Revenue: ₹31.3m (down 41% from 2Q 2022). Net income: ₹3.65m (up 54% from 2Q 2022). Profit margin: 12% (up from 4.5% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has increased by 98% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 06
National General Industries Limited to Report Q2, 2023 Results on Nov 14, 2022 National General Industries Limited announced that they will report Q2, 2023 results on Nov 14, 2022 Announcement • Sep 07
National General Industries Limited, Annual General Meeting, Sep 30, 2022 National General Industries Limited, Annual General Meeting, Sep 30, 2022, at 13:30 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statement of the Company for the financial year ended 31 March, 2022, the Report of the Board of Directors’ and Auditors’ thereon;to appoint a Director in place of Mr. Manhar Modi (DIN:00051746) who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment;to Appointment of Statutory Auditors and fixing their remuneration;and to discuss other matters. Reported Earnings • Jun 03
Full year 2022 earnings released: EPS: ₹0.22 (vs ₹10.50 in FY 2021) Full year 2022 results: EPS: ₹0.22 (down from ₹10.50 in FY 2021). Revenue: ₹193.6m (down 2.8% from FY 2021). Net income: ₹1.02m (down 98% from FY 2021). Profit margin: 0.5% (down from 29% in FY 2021). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 94% per year but the company’s share price has increased by 157% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 22
National General Industries Limited to Report Q4, 2022 Results on May 30, 2022 National General Industries Limited announced that they will report Q4, 2022 results on May 30, 2022 Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improved over the past week After last week's 28% share price gain to ₹535, the stock trades at a trailing P/E ratio of 55.3x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 1,786% over the past year. Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment deteriorated over the past week After last week's 17% share price decline to ₹399, the stock trades at a trailing P/E ratio of 41.3x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 1,309% over the past year. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improved over the past week After last week's 22% share price gain to ₹348, the stock trades at a trailing P/E ratio of 36x. Average trailing P/E is 13x in the Metals and Mining industry in India. Total returns to shareholders of 1,129% over the past year. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹258, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 12x in the Metals and Mining industry in India. Total returns to shareholders of 809% over the past year. Reported Earnings • Feb 17
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₹0.27 loss per share (down from ₹0.16 loss in 3Q 2021). Revenue: ₹49.2m (down 28% from 3Q 2021). Net loss: ₹1.28m (loss widened 44% from 3Q 2021). Revenue was in line with analyst estimates. Valuation Update With 7 Day Price Move • Feb 16
Investor sentiment deteriorated over the past week After last week's 23% share price decline to ₹408, the stock trades at a trailing P/E ratio of 41.9x. Average trailing P/E is 13x in the Metals and Mining industry in India. Total returns to shareholders of 1,338% over the past year. Announcement • Feb 06
National General Industries Limited to Report Q3, 2022 Results on Feb 14, 2022 National General Industries Limited announced that they will report Q3, 2022 results on Feb 14, 2022 Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment deteriorated over the past week After last week's 19% share price decline to ₹588, the stock trades at a trailing P/E ratio of 60.4x. Average trailing P/E is 14x in the Metals and Mining industry in India. Total returns to shareholders of 1,975% over the past year. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improved over the past week After last week's 21% share price gain to ₹143, the stock trades at a trailing P/E ratio of 14.6x. Average trailing P/E is 11x in the Metals and Mining industry in India. Total returns to shareholders of 403% over the past year. Reported Earnings • Nov 18
Second quarter 2022 earnings released: EPS ₹0.51 (vs ₹0.92 in 2Q 2021) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹53.0m (down 14% from 2Q 2021). Net income: ₹2.37m (down 54% from 2Q 2021). Profit margin: 4.5% (down from 8.3% in 2Q 2021). Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improved over the past week After last week's 16% share price gain to ₹59.60, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 13x in the Metals and Mining industry in India. Total returns to shareholders of 121% over the past year. Valuation Update With 7 Day Price Move • Oct 01
Investor sentiment improved over the past week After last week's 16% share price gain to ₹44.60, the stock trades at a trailing P/E ratio of 4.4x. Average trailing P/E is 12x in the Metals and Mining industry in India. Board Change • Sep 21
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. Non Executive Non Independent Director Vasu Modi is the most experienced director on the board, commencing their role in 2000. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Reported Earnings • Feb 13
Third quarter 2021 earnings released: ₹0.16 loss per share (vs ₹0.26 profit in 3Q 2020) The company reported a mediocre third quarter result with weaker earnings and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: ₹67.8m (up 46% from 3Q 2020). Net loss: ₹887.0k (down 162% from profit in 3Q 2020). Announcement • Feb 04
National General Industries Limited to Report Q3, 2021 Results on Feb 12, 2021 National General Industries Limited announced that they will report Q3, 2021 results on Feb 12, 2021 Announcement • Aug 29
National General Industries Limited to Report Q1, 2021 Results on Sep 05, 2020 National General Industries Limited announced that they will report Q1, 2021 results on Sep 05, 2020 Announcement • Jun 28
National General Industries Limited to Report Q4, 2020 Results on Jun 30, 2020 National General Industries Limited announced that they will report Q4, 2020 results on Jun 30, 2020 