NBCC (India) Ltd.

•

nbccindia.inBSE: 534309NSE: NBCC

Market Cap₹ 22,424 Cr.

Current Price

High / Low₹ 126 / 77

Stock P/E30.2

Book Value₹ 12

Price to Book6.94

Dividend Yield1.20 %

ROCE41.7 %

ROE27.0 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • PMC: 96.0% • EPC: 3.0% • Real Estate: 0.8%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Company has delivered good profit growth of 25.3% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 39.3%
Company has a good return on equity (ROE) track record: 3 Years ROE 23.5%
Company has consistently been profitable over the last 5 years
Company has been maintaining a healthy dividend payout of 37.5%

CONS

Receivables are growing faster than sales - a possible quality concern
A large part of profit comes from other income (53.1% of PBT)
Contingent liabilities are large at 117.9% of net worth
Recurring exceptional / one-off items are inflating headline profit
Stock is trading at 6.9x its book value
Operating margins have contracted to 4.3% from 8.4%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionCapital GoodsEngineering Consultancy

Part ofNIFTY CPSE NIFTY TOTAL MKT NIFTY SMLCAP 50 NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	NBCC	83.05	30.19	22423.50	1.20	158.01	17.01	2259.53	-5.51	41.74	6.86
2.	CMPDI	215.20	25.06	15365.28	1.46	1162.70	—	4813.70	—	38.09	30.22
3.	RITES	209.10	24.08	10049.42	3.80	97.78	7.58	532.20	8.67	22.99	22.45
4.	DHRUV	21.85	0.00	41.44	0.00	-4.76	-398.06	15.55	-26.07	-33.41	-23.24

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	19,179	20,533	24,126	40,245	21,442	24,587	2,809	4,644	2,391	2,910	3,022	4,560	22,595
	18,620	19,591	22,966	37,827	20,540	23,603	2,665	4,352	2,281	2,809	2,909	4,273	21,081
Operating Profit	559	942	1,160	2,418	902	984	144	291	110	101	114	287	1,514
OPM %	2.92%	4.59%	4.81%	6.01%	4.21%	4.00%	5.12%	6.27%	4.61%	3.46%	3.76%	6.30%	6.70%
	479	1,412	814	1,470	537	672	54	-39	74	107	152	59	614
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	12	13	13	14	14	15	2	3	3	3	3	4	35
Profit before Tax	1,038	1,048	1,524	1,976	1,438	1,659	196	249	181	205	263	342	2,128
Tax %	25.41%	21.83%	25.46%	28.40%	25.48%	24.57%	27.43%	26.61%	25.58%	23.49%	24.96%	25.95%	25.74%
Net Profit	774	819	1,136	1,415	1,072	1,251	142	183	135	157	197	254	1,580
	0.42	0.44	0.62	0.76	0.58	0.45	0.51	0.65	0.49	0.57	0.71	0.89	0.57

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	7,425	8,447	9,943	8,087	6,953	7,691	8,876	10,407	12,044	12,889	12,752
	7,017	7,996	9,574	7,984	6,821	7,483	8,532	9,911	11,473	12,335	12,099
Operating Profit	408	451	369	104	133	207	345	496	571	554	653
OPM %	5.49%	5.34%	3.71%	1.28%	1.91%	2.70%	3.88%	4.76%	4.74%	4.30%	5.12%
	137	325	425	448	386	291	227	282	359	606	380
Interest	84	187	222	249	221	179	196	214	168	156	0
Depreciation	5	6	4	7	6	5	5	5	7	13	14
Profit before Tax	454	584	569	297	292	315	372	559	755	991	1,022
Tax %	28.38%	32.27%	31.16%	66.39%	17.85%	24.40%	25.25%	25.81%	26.17%	25.10%	25.16%
Net Profit	325	396	392	100	240	238	278	414	557	742	765
EPS	1.97	2.10	2.08	0.43	1.25	1.25	1.48	2.23	2.00	2.67	—
Dividend Payout %	41.36%	39.73%	31.19%	31.06%	37.49%	40.12%	36.45%	28.24%	33.43%	37.50%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 13%
3 Years:: 13%

COMPOUNDED PROFIT GROWTH

10 Years:: 10%
5 Years:: 26%
3 Years:: 39%

STOCK PRICE CAGR

10 Years:: 4%
5 Years:: 23%
3 Years:: 31%
1 Year:: -23%

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 20%
3 Years:: 24%
Last Year:: 27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	180	180	180	180	180	180	180	180	270	270
Minority Interest	238	154	148	156	160	170	180	187	192	198
	1,514	1,886	1,328	1,270	1,463	1,588	1,765	2,046	2,209	2,747
	127	24	127	322	314	313	118	117	108	105
Trade Payables	3,087	3,920	4,234	3,552	3,265	3,269	3,497	4,121	4,611	6,355
	3,314	6,735	6,570	6,646	7,619	7,588	6,805	5,743	5,696	6,376
Total Liabilities	8,460	12,899	12,588	12,127	13,002	13,107	12,544	12,393	13,086	16,052
	122	128	180	163	158	158	165	169	169	596
Capital Work in Progress	0	0	0	0	16	2	4	12	4	38
	74	28	42	28	20	18	21	276	265	19
	1,571	1,658	1,833	1,768	1,694	1,516	1,408	1,202	974	1,194
	0	0	0	0	0	0	0	2,902	3,062	5,092
Cash & Bank	2,258	4,710	5,093	5,206	5,678	5,647	4,919	4,966	5,716	6,516
	4,434	6,374	5,439	4,961	5,436	5,767	6,027	2,867	2,896	2,597
Total Assets	8,460	12,899	12,588	12,127	13,002	13,107	12,544	12,393	13,086	16,052

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	685	1,038	770	142	472	92	-363	-12	667	438
Cash from Investing	282	-474	-209	88	151	33	272	-184	575	250
Cash from Financing	-502	-247	-150	-160	-41	-95	-90	-103	-269	-201
	385	185	279	41	567	19	-192	-293	967	489

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	61.75	61.75	61.75	61.75	61.75	61.75	61.75	61.75	61.75
	4.43	4.11	4.15	4.20	4.99	5.34	5.20	4.99	4.77
	9.47	9.09	8.93	8.92	11.22	10.96	12.24	10.74	11.27
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	24.35	25.05	25.16	25.13	22.04	21.96	20.81	22.52	22.22

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Shareholders meeting

2026-09-11 - NBCC (India) Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 11, 2026

2026-09-08

Change in Auditors

2026-09-08 - NBCC (India) Limited has informed the Exchange regarding Change in Auditors of the company.

2026-08-28

Updates

2026-08-28 - NBCC (India) Limited has informed the Exchange regarding 'Signing of MoU between NBCC and NHPC'.

2026-08-27

Updates

2026-08-27 - NBCC (India) Limited has informed the Exchange regarding 'Intimation of Work Orders received by NBCC (India) Limited in the ordinary course of business amounting to Rs. 134.27 Cr. approx.'.

2026-08-25

Updates

2026-08-25 - NBCC (India) Limited has informed the Exchange regarding 'Intimation of Work Orders received by NBCC (India) Limited in the ordinary course of business amounting to Rs. 121.74Cr. approx.'.

2026-08-25

Updates

2026-08-25 - NBCC (India) Limited has informed the Exchange regarding 'NBCC successfully concludes E-auction of residential units at Aspire Silicon City, (1 tower: Tower No.6) at Sec.76, NOIDA, UP.'.

2026-08-21

Copy of Newspaper Publication

2026-08-21 - NBCC (India) Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-20

Updates

2026-08-20 - NBCC (India) Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report (BRSR) for the Financial Year 2025-26'.

2026-08-20

Shareholders meeting

2026-08-20 - NBCC (India) Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 11, 2026

News

Recent coverage and analyst commentary for NBCC

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NBCC (India) Ltd.

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Name

NBCC

83.05

30.19

22423.50

1.20

158.01

17.01

2259.53

-5.51

41.74

6.86

CMPDI

215.20

25.06

15365.28

1.46

1162.70

—

4813.70

—

38.09

30.22

RITES

209.10

24.08

10049.42

3.80

97.78

7.58

532.20

8.67

22.99

22.45

DHRUV

21.85

0.00

41.44

0.00

-4.76

-398.06

15.55

-26.07

-33.41

-23.24

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

19,179

20,533

24,126

40,245

21,442

24,587

2,809

4,644

2,391

2,910

3,022

4,560

22,595

18,620

19,591

22,966

37,827

20,540

23,603

2,665

4,352

2,281

2,809

2,909

4,273

21,081

Operating Profit

559

942

1,160

2,418

902

984

144

291

110

101

114

287

1,514

OPM %

2.92%

4.59%

4.81%

6.01%

4.21%

4.00%

5.12%

6.27%

4.61%

3.46%

3.76%

6.30%

6.70%

479

1,412

814

1,470

537

672

-39

107

152

614

Interest

Depreciation

Profit before Tax

1,038

1,048

1,524

1,976

1,438

1,659

196

249

181

205

263

342

2,128

Tax %

25.41%

21.83%

25.46%

28.40%

25.48%

24.57%

27.43%

26.61%

25.58%

23.49%

24.96%

25.95%

25.74%

Net Profit

774

819

1,136

1,415

1,072

1,251

142

183

135

157

197

254

1,580

0.42

0.44

0.62

0.76

0.58

0.45

0.51

0.65

0.49

0.57

0.71

0.89

0.57

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

7,425

8,447

9,943

8,087

6,953

7,691

8,876

10,407

12,044

12,889

12,752

7,017

7,996

9,574

7,984

6,821

7,483

8,532

9,911

11,473

12,335

12,099

Operating Profit

408

451

369

104

133

207

345

496

571

554

653

OPM %

5.49%

5.34%

3.71%

1.28%

1.91%

2.70%

3.88%

4.76%

4.74%

4.30%

5.12%

137

325

425

448

386

291

227

282

359

606

380

Interest

187

222

249

221

179

196

214

168

156

Depreciation

Profit before Tax

454

584

569

297

292

315

372

559

755

991

1,022

Tax %

28.38%

32.27%

31.16%

66.39%

17.85%

24.40%

25.25%

25.81%

26.17%

25.10%

25.16%

Net Profit

325

396

392

100

240

238

278

414

557

742

765

EPS

1.97

2.10

2.08

0.43

1.25

1.48

2.23

2.00

2.67

—

Dividend Payout %

41.36%

39.73%

31.19%

31.06%

37.49%

40.12%

36.45%

28.24%

33.43%

37.50%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

180

270

Minority Interest

238

154

148

156

160

170

180

187

192

198

1,514

1,886

1,328

1,270

1,463

1,588

1,765

2,046

2,209

2,747

127

322

314

313

118

117

108

105

Trade Payables

3,087

3,920

4,234

3,552

3,265

3,269

3,497

4,121

4,611

6,355

3,314

6,735

6,570

6,646

7,619

7,588

6,805

5,743

5,696

6,376

Total Liabilities

8,460

12,899

12,588

12,127

13,002

13,107

12,544

12,393

13,086

16,052

122

128

180

163

158

165

169

596

Capital Work in Progress

276

265

1,571

1,658

1,833

1,768

1,694

1,516

1,408

1,202

974

1,194

2,902

3,062

5,092

Cash & Bank

2,258

4,710

5,093

5,206

5,678

5,647

4,919

4,966

5,716

6,516

4,434

6,374

5,439

4,961

5,436

5,767

6,027

2,867

2,896

2,597

Total Assets

8,460

12,899

12,588

12,127

13,002

13,107

12,544

12,393

13,086

16,052

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

685

1,038

770

142

472

-363

-12

667

438

Cash from Investing

282

-474

-209

151

272

-184

575

250

Cash from Financing

-502

-247

-150

-160

-41

-95

-90

-103

-269

-201

385

185

279

567

-192

-293

967

489

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

61.75

4.43

4.11

4.15

4.20

4.99

5.34

5.20

4.99

4.77

9.47

9.09

8.93

8.92

11.22

10.96

12.24

10.74

11.27

Government

0.00

24.35

25.05

25.16

25.13

22.04

21.96

20.81

22.52

22.22

NBCC (India) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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NBCC (India) Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI