What NTC Industries does

NTC Industries Ltd is an Indian public company, listed on the Bombay Stock Exchange (bom:526723) and headquartered in Kolkata, that manufactures and sells tobacco products, including cigarettes and pan masala, to Indian consumers. Founded in 1931 and operating with 101-250 employees, the company has a 90-plus year operating history in a heavily regulated sector subject to 40% GST on tobacco products and per-stick excise duties ranging from Rs 2,050 to Rs 8,500 per 1,000 sticks effective February 1, 2026. Its core technology is not disclosed in available sources; production appears to be conventional tobacco manufacturing rather than a technology-led platform.

The company generates revenue through the manufacture and sale of cigarettes and pan masala via wholesale and retail distribution channels in the Indian domestic market. It reported full-year FY26 sales of Rs 97.44 crore (more than doubled year-over-year) and net profit of Rs 19.56 crore, a 72.03% surge, with Q4 FY26 sales of Rs 27.58 crore (+38.25% YoY) and Q3 FY26 sales of Rs 22.90 crore (+132.72% YoY). No exports, no international footprint, no named enterprise customers, and no partnerships are disclosed. The go-to-market is a standard sales-led model for a listed Indian tobacco manufacturer, with BSE regulatory disclosures functioning as the primary public-facing channel.

In February 2026, the company amended its Memorandum of Association with Registrar of Companies approval, the specific rationale for which is not disclosed. Ownership structure, parent or holding company relationships, and institutional investor composition are not detailed in the available sources, leaving a gap in governance intelligence for any prospective investor or acquirer.

Name

NTC Industries

Legal name

NTC Industries Ltd

Website

https://ntcind.com

Company type

Public

Founded year

1931

Operating status

Operating

Headcount range

101–250 employees

Short description

NTC Industries Ltd is a Kolkata-headquartered, BSE-listed Indian tobacco manufacturer founded in 1931 that produces and sells cigarettes and pan masala to Indian consumers through wholesale and retail distribution channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Kolkata

HQ country

India

HQ region

Asia

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Others

Revenue model

1. Tobacco Product Sales: NTC Industries generates revenue through the manufacture and sale of cigarettes and pan masala products in the Indian market. The company reported full year FY26 sales of Rs 97.44 crore, more than doubling year-over-year, with quarterly sales of Rs 27.58 crore in Q4 FY26 (March 2026) representing 38.25% year-on-year growth.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

NTC Industries manufactures and sells tobacco products including cigarettes and pan masala for the Indian domestic market. The company also manufactures incense sticks and other tobacco-related products. Products are distributed through wholesale and retail channels across India.

Differentiator

Problem solved

Functional benefit

Products and services

• Cigarettes
• Pan Masala
• Incense Sticks

Quantifiable outcome

• Sales more than doubled to Rs 97.44 crore in FY26 compared to prior year
• +3 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves4 records

Expansion highlights3 records

Direct peers

• Golden Tobacco Limited: Smaller Indian listed cigarette manufacturer with overlapping pan-India wholesale distribution. Closely comparable in scale and product mix.
• Godfrey Phillips India: Listed Indian cigarette manufacturer (Four Square, Red & White). Most direct head-to-head competitor for NTC in mid-market cigarette segments.
• Manikchand Group: Pan masala and tobacco-adjacent manufacturer competing in the same consumer category as NTC's pan masala line through similar distribution networks.
• VST Industries: Hyderabad-based listed cigarette maker (Charms, Charminar). Operates in similar price tiers and distribution channels as NTC's cigarette portfolio.

Regional players

• Sinnar Bidi Udyog: India-based traditional tobacco product manufacturer. Comparable as an adjacent tobacco manufacturer serving Indian consumer markets.

Broad incumbents

• ITC Limited: India's largest cigarette manufacturer and a diversified FMCG conglomerate. Direct overlap in cigarettes, with vastly greater scale, distribution depth, and brand portfolio.

Emerging players

• Kothari Products: Indian company active in pan masala and related tobacco-adjacent categories, comparable to NTC's pan masala exposure and customer base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/NTCIndustries
• Facebookfacebook.com/ntcindustriesltd

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NTC Industries