NBCC (India) Ltd.

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nbccindia.inBSE: 534309NSE: NBCC

Market Cap₹ 22,572 Cr.

Current Price

High / Low₹ 126 / 77

Stock P/E30.5

Book Value₹ 11

Price to Book7.35

Dividend Yield1.20 %

ROCE38.1 %

ROE27.2 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • PMC: 96.3% • EPC: 2.4% • Real Estate: 1.0%

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 28.4% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 32.2%
Company has a good return on equity (ROE) track record: 3 Years ROE 21.8%
Latest quarter profit grew 32.1% YoY, showing strong momentum
Company has been maintaining a healthy dividend payout of 38.4%

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
A large part of profit comes from other income (47.2% of PBT)
Contingent liabilities are large at 73.1% of net worth
Recurring exceptional / one-off items are inflating headline profit
Stock is trading at 7.4x its book value

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

Peer comparison

ConstructionCapital GoodsEngineering Consultancy

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

S.No.	Name
1.	NBCC	83.60	30.39	22572.00	1.20	158.01	17.01	2259.53	-5.51	41.74	6.86
2.	CMPDI	230.95	26.89	16489.83	1.36	1162.70	—	4813.70	—	38.09	30.22
3.	RITES	211.10	24.31	10145.55	3.77	97.78	7.58	532.20	8.67	22.99	22.45
4.	DHRUV	24.00	0.00	45.52	0.00	-4.76	-398.06	15.55	-26.07	-33.41	-23.24

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	14,781	16,220	19,186	30,319	16,273	18,649	2,030	32,175	16,555	20,935	2,088	39,138	18,230
	14,308	15,338	18,168	28,304	15,496	17,873	1,915	29,784	15,602	20,132	1,975	36,717	16,657
Operating Profit	473	882	1,018	2,015	777	776	115	2,392	952	803	112	2,420	1,573
OPM %	3.20%	5.44%	5.31%	6.65%	4.78%	4.16%	5.65%	7.43%	5.75%	3.84%	5.38%	6.18%	8.63%
	374	1,457	689	1,329	385	784	57	1,390	579	1,310	145	513	450
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	5	5	5	5	6	6	1	21	21	22	2	27	26
Profit before Tax	847	1,031	1,257	1,431	1,162	1,560	171	1,862	1,531	2,113	255	2,933	2,023
Tax %	25.44%	17.28%	25.46%	28.51%	25.48%	20.72%	24.92%	26.33%	25.50%	18.34%	23.01%	24.98%	25.52%
Net Profit	631	853	937	1,023	866	1,237	129	1,372	1,141	1,726	197	2,201	1,506
	0.35	0.47	0.52	0.57	0.48	0.46	0.48	0.51	0.42	0.64	0.73	0.82	0.56

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	6,279	5,905	7,245	5,210	4,947	5,547	6,736	8,027	8,731	9,755	9,918
	5,875	5,506	6,869	5,194	4,861	5,388	6,432	7,605	8,289	9,272	9,326
Operating Profit	404	399	376	17	87	159	305	422	441	483	592
OPM %	6.43%	6.76%	5.19%	0.32%	1.75%	2.86%	4.52%	5.25%	5.06%	4.95%	5.97%
	141	176	248	306	233	150	84	122	272	511	372
Interest	54	70	63	79	72	71	74	85	80	72	0
Depreciation	3	3	3	3	2	2	2	2	4	9	10
Profit before Tax	488	503	558	241	244	237	312	456	630	913	962
Tax %	28.00%	33.63%	31.22%	66.90%	17.47%	22.76%	25.98%	24.56%	24.40%	22.98%	23.11%
Net Profit	351	334	384	80	202	183	231	344	476	703	740
EPS	1.95	1.85	2.13	0.44	1.12	1.02	1.28	1.91	1.76	2.60	—
Dividend Payout %	41.78%	45.05%	30.46%	30.43%	41.93%	49.22%	42.05%	32.93%	37.99%	38.39%	—

COMPOUNDED SALES GROWTH

10 Years:: 5%
5 Years:: 15%
3 Years:: 13%

COMPOUNDED PROFIT GROWTH

10 Years:: 9%
5 Years:: 28%
3 Years:: 45%

STOCK PRICE CAGR

10 Years:: 4%
5 Years:: 23%
3 Years:: 28%
1 Year:: -20%

RETURN ON EQUITY

10 Years:: 17%
5 Years:: 18%
3 Years:: 22%
Last Year:: 27%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,494	1,641	1,385	1,344	1,512	1,595	1,735	1,959	2,058	2,576
	0	0	109	114	117	120	118	117	107	105
Trade Payables	2,543	2,994	2,938	2,151	2,121	2,220	2,365	2,745	3,085	4,768
	2,704	3,398	3,286	3,673	4,079	4,100	3,515	3,165	3,647	3,649
Total Liabilities	6,921	8,213	7,898	7,462	8,009	8,214	7,912	8,166	9,167	11,368
	63	62	72	59	57	56	63	67	63	491
Capital Work in Progress	0	0	0	0	0	0	1	8	0	30
	105	59	359	344	334	332	332	586	576	332
	1,570	1,658	1,832	1,767	1,694	1,516	1,408	1,202	974	1,152
	0	0	0	0	0	0	0	2,210	2,224	4,210
Cash & Bank	1,553	1,714	1,581	1,761	1,991	2,350	2,057	2,231	3,213	3,316
	3,630	4,721	4,055	3,532	3,934	3,961	4,051	1,862	2,116	1,836
Total Assets	6,921	8,213	7,898	7,462	8,009	8,214	7,912	8,166	9,167	11,368

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	517	320	252	80	101	281	-141	360	1,055	-249
Cash from Investing	145	174	153	319	245	-44	-229	-486	74	503
Cash from Financing	-208	-184	-127	-131	-31	-90	-88	-97	-258	-184
	376	203	146	239	299	135	-466	-217	865	68

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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

2026-09-08

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

2026-08-18

Copy of Newspaper Publication

2026-08-18 - NBCC (India) Limited has informed the Exchange about Copy of Newspaper Publication

News

Recent coverage and analyst commentary for NBCC

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