Northern Spirits Ltd
Northern Spirits Ltd (NSL) last reported results for the quarter ended Jun 2026, with sales of ₹599 crore and net profit of ₹9.27 crore. The stock last traded at ₹124, a market capitalisation of ₹199 crore, on a P/E of 6.84. Over the past 52 weeks the stock has ranged between ₹96.6 and ₹193. Figures are as of 6 Oct 2026 and are not real time.
Northern Spirits Ltd share price and key metrics
- Current price
- ₹124
- Market cap
- ₹199 cr
- Stock P/E
- 6.84
- Book value
- ₹92.9
- ROE
- 20.0%
- ROCE
- 15.7%
- Dividend yield
- 0.28%
- 52w high / low
- 193/96.6
Metrics as of 6 Oct 2026. Not real time.
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Northern Spirits Ltd growth and returns
- 10 Years
- 93%
- 5 Years
- 72%
- 3 Years
- 37%
- TTM
- 18%
- 10 Years
- 49%
- 5 Years
- 56%
- 3 Years
- 35%
- TTM
- 20%
- 10 Years
- %
- 5 Years
- 27%
- 3 Years
- -29%
- 1 Year
- -30%
- 10 Years
- 16%
- 5 Years
- 17%
- 3 Years
- 20%
- Last Year
- 20%
Northern Spirits Ltd quarterly results
In the quarter ended Jun 2026, sales were ₹599 cr, up 12.1% from ₹534 cr a year earlier. Net profit was ₹9.27 cr, up 25.6% year on year.
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 487 | 528 | 466 | 534 | 563 | 596 | 616 | 599 |
| Expenses | 478 | 507 | 460 | 521 | 549 | 584 | 606 | 582 |
| Operating profit | 9.41 | 21.14 | 6.29 | 13.52 | 13.69 | 12.59 | 10.16 | 16.35 |
| OPM % | 1.93% | 4.00% | 1.35% | 2.53% | 2.43% | 2.11% | 1.65% | 2.73% |
| Other income | 0.5 | 0.13 | 0.23 | 0.34 | 0.36 | 0.25 | 0.91 | 0.5 |
| Interest | 2.56 | 9.1 | 3.02 | 4.02 | 3.94 | 3.19 | 3.89 | 4.53 |
| Depreciation | 0.05 | 0.05 | 0.13 | 0.13 | 0.13 | 0.2 | 0.16 | 0.12 |
| Profit before tax | 7.3 | 12.12 | 3.37 | 9.71 | 9.98 | 9.45 | 7.02 | 12.2 |
| Tax % | 23.29% | 24.01% | 37.69% | 24.00% | 24.05% | 24.02% | 29.20% | 24.02% |
| Net profit | 5.6 | 9.21 | 2.09 | 7.38 | 7.59 | 7.18 | 4.98 | 9.27 |
| EPS (₹) | 3.49 | 5.74 | 1.30 | 4.60 | 4.73 | 4.47 | 3.10 | 5.78 |
Consolidated figures as reported by the company. Percentages are as published; totals may not sum exactly.
Northern Spirits Ltd annual results
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 16 | 25 | 110 | 154 | 152 | 268 | 905 | 1,235 | 1,943 | 2,309 | 2,374 |
| Operating profit | 1 | 2 | 20 | 8 | 8 | 13 | 23 | 31 | 46 | 50 | 53 |
| OPM % | 5% | 7% | 18% | 5% | 5% | 4.8% | 2.5% | 2.5% | 2.4% | 2.2% | 2.2% |
| Net profit | 1 | 1 | 10 | 4 | 3 | 6 | 11 | 17 | 23 | 27 | 29 |
| EPS (₹) | 13.09 | 8.46 | 8.56 | 2.25 | 1.85 | 3.74 | 6.93 | 10.32 | 14.31 | 16.91 | 18.08 |
TTM is the trailing twelve months to the most recent quarter.
Northern Spirits Ltd balance sheet
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 0.41 | 1 | 12 | 16 | 16 | 16 | 16 | 16 | 16 | 16 |
| Reserves | 1 | 5 | 29 | 47 | 50 | 56 | 67 | 84 | 107 | 133 |
| Borrowings | 2 | 5 | 45 | 43 | 57 | 68 | 95 | 138 | 171 | 209 |
| Other liabilities | 9 | 9 | 8 | 2 | 2 | 2 | 4 | 1 | 1 | 23 |
| Total liabilities | 13 | 21 | 94 | 108 | 125 | 142 | 183 | 239 | 295 | 381 |
| Fixed assets | 5 | 5 | 11 | 10 | 10 | 10 | 10 | 11 | 12 | 11 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 8 | 16 | 83 | 98 | 115 | 132 | 172 | 228 | 283 | 370 |
| Total assets | 13 | 21 | 94 | 108 | 125 | 142 | 183 | 239 | 295 | 381 |
As reported by the company. Total assets equal total liabilities by construction.
Northern Spirits Ltd cash flow
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | 1 | -7 | -50 | -12 | -10 | 0 | -22 | -29 | -7 | 7 |
| Cash from investing | 0 | -0 | -6 | 0 | 0 | -0 | -0 | -0 | -1 | -0 |
| Cash from financing | -0 | 2 | 20 | 15 | 4 | -3 | 104 | 34 | 17 | 22 |
| Net cash flow | 0 | -5 | -36 | 3 | -7 | -3 | 81 | 4 | 9 | 29 |
| Free cash flow | 0 | -7 | -56 | -12 | -10 | -0 | -23 | -30 | -8 | 7 |
| CFO / operating profit | 119% | -422% | -250% | -145% | -123% | 1% | -98% | -95% | -15% | 15% |
Negative figures are outflows. CFO / operating profit is a ratio, not an amount.
Northern Spirits Ltd operating ratios
| Per year | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 28% | 21% | 41% | 9% | 7% | 10% | 14% | 15% | 18% | 16% |
| Debtor days | 96 | 122 | 124 | 94 | 113 | 86 | 43 | 42 | 31 | 30 |
| Inventory days | 70 | 146 | 160 | 112 | 110 | 67 | 23 | 20 | 17 | 22 |
| Days payable | 76 | 63 | 7 | 1 | 0 | 0 | 0 | 0 | 0 | 4 |
| Cash conversion cycle | 91 | 206 | 277 | 205 | 222 | 154 | 66 | 62 | 49 | 48 |
| Working capital days | -45 | 90 | 87 | 114 | 141 | 84 | 30 | 23 | 16 | 13 |
Ratios as computed by the source from the reported statements. Rows a company does not report are omitted.
Northern Spirits Ltd shareholding pattern
Promoters held 66.97% at Jun 2026, broadly unchanged since Jun 2025. FIIs 0.00%.
| % held | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 66.97% | 66.97% | 66.97% | 66.97% | 66.97% | 66.97% | 66.97% | 66.97% |
| FIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.37% | 0.00% | 0.00% | 0.00% |
| Public | 33.05% | 33.03% | 33.03% | 33.04% | 32.66% | 33.03% | 33.03% | 33.03% |
| No. of shareholders | 1,723 | 3,299 | 4,120 | 4,160 | 4,188 | 4,607 | 4,658 | 4,686 |
As disclosed by the company to the exchanges. The last row is a count of shareholders, not a percentage.
Northern Spirits Ltd corporate filings
- Submission of Certificate under Regulation 74(5) of the SEBI (DP) Regulations, 2018 for the quarter ended 30th September, 2026 as received from the Registrar and Share Transfer agent of the Company.Company Updatelow impact
- Intimation regarding closure of Trading Window for dealing in the securities of the CompanyInsider Trading / SASTlow impact
- Northern Spirits Limited Announces Successful Conclusion of 14th AGM and Approval of Final DividendAGM/EGMlow impact
Cruxal's analysis: Northern Spirits Limited has successfully concluded its 14th Annual General Meeting held…
Read the full analysis - Northern Spirits Limited Announces Successful Conclusion of 14th AGM and Approval of Final DividendAGM/EGMlow impact
Cruxal's analysis: Northern Spirits Limited has successfully concluded its 14th Annual General Meeting held…
Read the full analysis - Northern Spirits Limited concludes 14th AGM; declares final dividend of INR 0.35 per shareAGM/EGMlow impact
Cruxal's analysis: Northern Spirits Limited has successfully concluded its 14th Annual General Meeting…
Read the full analysis - Northern Spirits Ltd announces 14th Annual General MeetingCompany Updatelow impact
Cruxal's analysis: Northern Spirits Ltd has submitted newspaper clippings regarding the notice of its 14th…
Read the full analysis - Northern Spirits Limited Announces Dividend Payout of INR 0.35 per share for FY 2025-26Company Updatelow impact
Cruxal's analysis: Northern Spirits Limited has issued a formal communication regarding the Tax Deduction at…
Read the full analysis - Northern Spirits Limited Announces 14th AGM, Book Closure, and Dividend Declaration of INR 0.35 per shareCorp. Actionlow impact
Cruxal's analysis: Northern Spirits Limited has scheduled its 14th Annual General Meeting for September 23…
Read the full analysis - Northern Spirits Limited Announces 14th Annual General Meeting and Dividend Declaration of INR 0.35 per shareCorp. Actionlow impact
Cruxal's analysis: Northern Spirits Limited has scheduled its 14th Annual General Meeting for September 23…
Read the full analysis - Northern Spirits Ltd submits Annual Report for the financial year ended March 31, 2026Otherslow impact
Cruxal's analysis: Northern Spirits Ltd has filed its Annual Report for the fiscal year ended March 31…
Read the full analysis - Northern Spirits Limited Announces 14th Annual General Meeting and Final Dividend of 3.5% for FY 2025-26AGM/EGMlow impact
Cruxal's analysis: Northern Spirits Limited has scheduled its 14th Annual General Meeting for September 23…
Read the full analysis - Northern Spirits Limited Reports Unaudited Standalone Financial Results for Quarter Ended June 30, 2026Company Updatelow impact
Cruxal's analysis: Northern Spirits Limited has released its unaudited standalone financial results for the…
Read the full analysis - Northern Spirits Limited reports strong Q1 FY27 performance with 25.7% YoY profit growthResulthigh impact
Cruxal's analysis: Northern Spirits Limited reported a robust performance for the quarter ended 30 June…
Read the full analysis - Northern Spirits Limited schedules board meeting for August 13, 2026, to approve Q1 FY27 results and propose change in statutory auditorsBoard Meetinglow impact
Cruxal's analysis: Northern Spirits Limited has announced a board meeting on August 13, 2026, to consider…
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