NTC Industries Ltd: A ₹60 Stock with ₹11 Cr Profit… So What’s the Catch?

1. At a Glance

NTC Industries is a smallcap cigarette manufacturer with just ₹60 Cr revenue, ₹11 Cr profit, and a 7% ROE. At a CMP of ₹172, this quiet stock is trading at 15x earnings and 1.2x book value. No drama. No dilution. Just…a very sleepy, cash-generating business that even SEBI might forget exists.

2. Introduction with Hook

NTC is that underrated character in every 90s Bollywood movie—always in the background, never in trouble, sometimes holding the briefcase. It operates with minimal noise, steady margins, and a market cap of ₹206 Cr, while large-cap tobacco peers steal the limelight. Yet in FY25, it quietly posted ₹11 Cr net profit with just ₹60 Cr sales. Curious? You should be.

• CMP: ₹172
• P/E: 15.5x
• Net Profit FY25: ₹11.4 Cr
• Book Value: ₹141
• Dividend: ₹3 per share in FY25
• Promoter Holding: 63.3%

3. Business Model (WTF Do They Even Do?)

• Core Business: Manufacturing of cigarettes, especially specialty and filter-tipped ones.
• Brands: Not mass-market. Caters to niche and possibly export demand.
• Other Business Lines: Small-scale