Cashew nut shell liquid (CNSL) is a naturally occurring chemical monomer consisting four alkyl substituted phenols. Its phenolic nature makes it suitable for polymerisation into resins by formaldehyde using sodium hydroxide (NaOH) as a catalyst and hexamethylenetetramine (HMTA) employed as a hardener. There is intense interest in understanding the cure characteristics and properties of CNSL-based resins. In this work the DSC technique has been applied to study the change in the glass transition temperature of the oven-cured resin with and without HMTA in order to monitor the extent of cure. The glass transition temperature was found to rise when the alkaline catalysed resin was subjected to higher curing temperatures regardless of the concentration of formaldehyde used. The mode of cure of the NaOH-catalysed CNSL-formaldehyde resin has been found to be more regular with HMTA hardener. FT-IR spectroscopy has been used to study the neat CNSL and polymerised CNSL-formaldehyde resin with and without HMTA. The use of the DSC and FT-IR techniques to elucidate the extent of cure of CNSL resins is a valuable step towards the production of commercially successful CNSL-natural fibre composites.