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NCC Overview

NCC Ltd is engaged in the construction/undertaking activities in the infrastructure zone. The Company is in the construction of business and industrial homes, roads, bridges and flyovers, water deliver and surroundings initiatives, housing, energy transmission traces, irrigation and hydrothermal power projects and real estate improvement. Its enterprise divisions consist of buildings and housing, roads, electric, water and surroundings, irrigation, railways, power, metals, mining and worldwide. The Company also has a presence within the Middle ...Read More

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NCC Key Financials

Market Cap ₹9432 Cr.

Stock P/E 10.9

P/B 1.3

Current Price ₹150.2

Book Value ₹ 120

Face Value 2

52W High ₹261.9

Dividend Yield 1.46%

52W Low ₹ 145

NCC Share Price

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Volume
Price

NCC Quarterly Price

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NCC Quarterly Results

#(Fig in Cr.) Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025
Net Sales 4380 4720 5260 6485 5528 5196 5345 6131 5179 4543
Other Income 26 27 28 45 30 28 38 58 29 42
Total Income 4407 4746 5288 6530 5558 5224 5383 6189 5208 4585
Total Expenditure 3971 4416 4755 5934 5050 4753 4904 5575 4723 4150
Operating Profit 436 331 533 596 508 471 479 615 485 435
Interest 132 153 156 153 155 167 166 193 164 172
Depreciation 53 53 53 52 54 55 54 54 55 57
Exceptional Income / Expenses 0 0 0 -33 0 0 0 0 0 0
Profit Before Tax 250 124 324 358 299 250 260 368 266 207
Provision for Tax 68 39 94 119 77 76 64 102 64 41
Profit After Tax 182 85 230 238 222 175 196 266 203 165
Adjustments -9 -8 -9 1 -12 -12 -3 -12 -11 -11
Profit After Adjustments 174 77 221 239 210 163 193 254 192 155
Adjusted Earnings Per Share 2.8 1.2 3.5 3.8 3.3 2.6 3.1 4 3.1 2.5

NCC Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 9513 9527 9001 8391 12896 8901 7949 11138 15553 20845 22199 21198
Other Income 159 137 206 101 124 113 116 71 148 126 156 167
Total Income 9672 9664 9207 8492 13020 9014 8065 11209 15701 20971 22355 21365
Total Expenditure 8545 8535 8333 7511 11296 7814 7030 10114 14094 19076 20281 19352
Operating Profit 1126 1129 874 981 1724 1200 1035 1095 1607 1895 2074 2014
Interest 737 643 513 460 522 554 480 478 515 595 680 695
Depreciation 277 248 203 172 193 199 181 187 203 212 216 220
Exceptional Income / Expenses 0 -40 -80 -124 -108 -50 -13 204 -14 -33 0 0
Profit Before Tax 113 167 46 219 894 387 363 635 885 1061 1187 1101
Provision for Tax 51 86 38 80 327 73 79 141 239 321 319 271
Profit After Tax 61 82 8 139 568 314 283 494 646 740 868 830
Adjustments -8 39 23 30 11 22 -15 -12 -37 -30 -48 -37
Profit After Adjustments 54 120 32 169 579 337 268 482 609 711 820 794
Adjusted Earnings Per Share 1 2.2 0.6 2.8 9.6 5.5 4.4 7.9 9.7 11.3 13.1 12.7

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 6% 26% 20% 9%
Operating Profit CAGR 9% 24% 12% 6%
PAT CAGR 17% 21% 23% 30%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -39% 17% 21% 10%
ROE Average 12% 12% 10% 7%
ROCE Average 23% 22% 18% 16%

NCC Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 3402 3392 3448 4083 4595 4906 5171 5603 6167 6640 7324
Minority's Interest 321 325 329 300 277 253 298 293 319 172 179
Borrowings 1266 1017 465 398 488 240 170 120 89 70 265
Other Non-Current Liabilities 207 157 110 116 133 37 19 19 23 37 66
Total Current Liabilities 7434 7349 6614 7320 8985 8161 7824 8358 9891 11116 13128
Total Liabilities 12630 12240 10966 12217 14479 13597 13482 14394 16489 18034 20961
Fixed Assets 2446 1674 986 1030 1293 1144 1131 1139 1239 1271 1370
Other Non-Current Assets 772 1202 1119 1550 1596 1588 1583 1802 2004 1888 1957
Total Current Assets 9413 9365 8861 9638 11517 10865 10769 11453 13246 14875 17635
Total Assets 12630 12240 10966 12217 14479 13597 13482 14394 16489 18034 20961

NCC Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 97 224 261 132 76 219 114 192 267 282 552
Cash Flow from Operating Activities 867 395 314 586 673 931 842 1416 1100 1359 742
Cash Flow from Investing Activities -95 193 376 -188 -619 11 -207 -66 -192 -319 -59
Cash Flow from Financing Activities -643 -551 -818 -453 89 -1047 -558 -1275 -893 -771 -247
Net Cash Inflow / Outflow 129 37 -129 -56 143 -105 77 75 16 270 436
Closing Cash & Cash Equivalent 226 261 132 76 219 114 192 267 282 552 988

NCC Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 0.97 2.17 0.57 2.81 9.63 5.52 4.4 7.91 9.7 11.32 13.06
CEPS(Rs) 6.08 5.93 3.79 5.17 12.65 8.42 7.61 11.16 13.52 15.17 17.27
DPS(Rs) 0.4 0.6 0.4 1 1.5 0.2 0.8 2 2.2 2.2 2.2
Book NAV/Share(Rs) 61.19 61.02 62.02 67.97 76.05 80.45 84.36 91.44 98.22 105.75 116.65
Core EBITDA Margin(%) 10.17 10.41 7.42 10.48 12.4 12.21 11.56 9.19 9.38 8.49 8.64
EBIT Margin(%) 8.93 8.5 6.22 8.09 10.98 10.57 10.6 9.99 9 7.94 8.41
Pre Tax Margin(%) 1.18 1.76 0.51 2.61 6.94 4.35 4.56 5.7 5.69 5.09 5.35
PAT Margin (%) 0.65 0.86 0.09 1.65 4.4 3.53 3.56 4.44 4.15 3.55 3.91
Cash Profit Margin (%) 3.55 3.46 2.34 3.7 5.89 5.77 5.84 6.11 5.46 4.57 4.88
ROA(%) 0.5 0.66 0.07 1.2 4.25 2.24 2.09 3.54 4.19 4.29 4.45
ROE(%) 1.99 2.4 0.25 3.68 13.12 6.63 5.63 9.22 11.01 11.56 12.44
ROCE(%) 12.62 12.1 8.87 11.16 21.09 13.09 11.76 15.74 19.94 22.43 22.58
Receivable days 65.58 102.2 158.07 197.65 118.85 126.24 125.53 86.59 67.13 55.09 53.2
Inventory Days 100.28 107.65 113.16 120.68 60.23 57.75 60 38.92 29.66 27.47 29.38
Payable days 131.64 207.69 301.52 357.21 266.26 470.1 524.61 364.06 299.5 245.97 281.69
PER(x) 115.58 35.02 143.53 41.91 11.69 3.41 17.96 7.4 10.96 20.53 16.04
Price/Book(x) 1.83 1.24 1.32 1.73 1.48 0.23 0.94 0.64 1.08 2.2 1.8
Dividend Yield(%) 0.36 0.79 0.49 0.85 1.33 1.06 1.01 3.42 2.07 0.95 1.05
EV/Net Sales(x) 0.97 0.74 0.77 1.07 0.71 0.33 0.8 0.38 0.45 0.69 0.59
EV/Core EBITDA(x) 8.22 6.27 7.95 9.19 5.28 2.45 6.16 3.9 4.32 7.61 6.35
Net Sales Growth(%) 27.46 0.15 -5.53 -6.78 53.69 -30.98 -10.69 40.11 39.64 34.02 6.5
EBIT Growth(%) 35.52 -4.69 -30.9 21.22 108.75 -33.58 -10.45 32.09 25.82 18.26 12.79
PAT Growth(%) 493.9 32.73 -89.7 1550.76 309.12 -44.66 -9.89 74.54 30.8 14.58 17.27
EPS Growth(%) 1029.37 123.55 -73.69 392.63 243.17 -42.72 -20.27 79.8 22.66 16.66 15.36
Debt/Equity(x) 1 0.95 0.75 0.5 0.59 0.44 0.4 0.23 0.16 0.15 0.22
Current Ratio(x) 1.27 1.27 1.34 1.32 1.28 1.33 1.38 1.37 1.34 1.34 1.34
Quick Ratio(x) 0.9 0.88 0.93 0.93 1.12 1.16 1.22 1.23 1.2 1.18 1.21
Interest Cover(x) 1.15 1.26 1.09 1.48 2.71 1.7 1.76 2.33 2.72 2.78 2.75
Total Debt/Mcap(x) 0.54 0.76 0.57 0.29 0.4 1.9 0.43 0.36 0.15 0.07 0.12

NCC Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 22 22 22 22 22 22.02 22.11 22.11 22.11 22.25
FII 24.17 23.89 27.33 23.65 20.87 18.13 13.79 12.7 12.87 11.49
DII 11.03 10.52 10.64 11.4 12.34 14.17 15.61 17.49 16.65 15.3
Public 42.8 43.59 40.03 42.95 44.79 45.68 48.5 47.7 48.37 50.96
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

NCC News

NCC Pros & Cons

Pros

  • Company has delivered good profit growth of 22% CAGR over last 5 years
  • Company is almost debt free.

Cons

  • Promoter holding is low: 22.25%.
  • Company has a low return on equity of 12% over the last 3 years.
  • Debtor days have increased from 245.97 to 281.69days.
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