NCC Ltd.

•

ncclimited.comBSE: 500294NSE: NCC

Market Cap₹ 8,853 Cr.

Current Price

High / Low₹ 222 / 130

Stock P/E12.7

Book Value₹ 129

Price to Book1.04

Dividend Yield1.56 %

ROCE16.8 %

ROE9.5 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Construction: 98.7% • Real Estate: 1.3%

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 20.7% CAGR over last 5 years
Company has a healthy return on capital (ROCE) of 20.6%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 21.2% CAGR over last 5 years
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Operating cash flow has been negative in recent years
Recent results are weak - TTM profit is down 20.4% versus prior year
Receivables are growing faster than sales - a possible quality concern
Total debt has risen sharply - up 116.9% year on year
Recurring exceptional / one-off items are inflating headline profit

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

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY TOTAL MKT NIFTY 500 NIFTY SMLCAP 250

S.No.	Name
1.	LT	3915.00	32.47	538651.57	0.97	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.00	47.52	42742.91	0.35	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1435.05	21.56	24506.71	0.77	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.64	24.86	23721.19	1.32	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1244.10	35.53	21372.09	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	269.20	19.30	15130.18	1.86	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	972.50	26.24	11310.13	0.72	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	782.75	35.45	10834.34	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	KEC	406.45	19.54	10819.70	1.35	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	IRCON	113.20	20.33	10646.64	1.68	92.03	-43.92	1955.83	9.49	10.15	9.81
11.	AFCONS	253.95	64.55	9339.89	0.79	30.30	-77.95	2671.00	-20.75	12.88	9.42
12.	NCC	141.00	12.65	8852.64	1.56	228.90	11.85	5811.83	12.22	16.77	9.43

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
	4,380	4,720	5,260	6,485	5,528	5,196	5,345	6,131	5,179	4,543	4,868	6,233	5,812
	3,971	4,416	4,755	5,934	5,050	4,753	4,904	5,575	4,723	4,150	4,432	5,682	5,534
Operating Profit	409	304	505	551	478	443	441	556	456	393	436	550	278
OPM %	9.34%	6.44%	9.61%	8.49%	8.65%	8.52%	8.25%	9.07%	8.81%	8.66%	8.96%	8.83%	4.78%
	26	27	28	13	30	28	38	58	29	42	-2	18	31
Interest	132	153	156	153	155	167	166	193	164	172	196	213	198
Depreciation	53	53	53	52	54	55	54	54	55	57	59	65	69
Profit before Tax	250	124	324	358	299	250	260	368	266	207	180	291	312
Tax %	27.23%	31.31%	29.09%	33.37%	25.79%	30.22%	24.69%	27.72%	23.92%	19.98%	25.80%	26.43%	26.55%
Net Profit	0	0	0	0	223	175	206	265	205	167	135	217	229
	2.76	1.23	3.51	3.81	3.34	2.60	3.08	4.04	3.06	2.46	1.95	3.28	3.45

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
	9,001	8,391	12,896	8,901	7,949	11,138	15,553	20,845	22,199	20,823	21,456
	8,333	7,511	11,296	7,814	7,030	10,114	14,094	19,076	20,281	18,987	19,798
Operating Profit	667	879	1,599	1,087	919	1,024	1,459	1,769	1,918	1,836	1,658
OPM %	7.42%	10.48%	12.40%	12.21%	11.56%	9.19%	9.38%	8.49%	8.64%	8.82%	7.73%
	126	-23	17	63	103	274	133	93	156	88	89
Interest	513	460	522	554	480	478	515	595	680	745	780
Depreciation	203	172	193	199	181	187	203	212	216	235	249
Profit before Tax	46	219	894	387	363	635	885	1,061	1,187	952	989
Tax %	81.86%	36.62%	36.54%	18.82%	21.92%	22.16%	26.97%	30.21%	26.87%	23.97%	25.01%
Net Profit	8	139	568	314	283	494	646	740	868	724	741
EPS	0.57	2.99	9.63	5.59	4.39	7.86	9.77	11.32	13.06	10.76	—
Dividend Payout %	70.19%	35.62%	15.57%	3.62%	18.18%	25.28%	22.67%	19.44%	16.85%	20.45%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 21%
3 Years:: 10%

COMPOUNDED PROFIT GROWTH

10 Years:: 19%
5 Years:: 20%
3 Years:: 3%

STOCK PRICE CAGR

10 Years:: 5%
5 Years:: 12%
3 Years:: -2%
1 Year:: -32%

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 11%
3 Years:: 11%
Last Year:: 10%

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	111	120	120	122	122	122	126	126	126	126
Minority Interest	329	300	277	253	298	293	319	172	179	160
	3,336	3,962	4,448	4,784	5,023	5,454	6,041	6,514	7,198	7,743
	2,781	2,318	2,902	2,288	2,076	1,328	1,004	935	1,489	3,184
Trade Payables	3,141	3,586	4,515	4,120	3,829	4,398	5,306	6,613	6,715	7,896
	1,268	1,930	2,217	2,030	2,135	2,798	3,693	3,675	5,255	6,855
Total Liabilities	10,966	12,217	14,479	13,597	13,482	14,394	16,489	18,034	20,961	25,965
	986	1,030	1,293	1,144	1,131	1,139	1,239	1,271	1,370	1,776
Capital Work in Progress	1	23	13	15	22	7	15	41	37	351
	729	619	475	448	440	346	352	155	148	153
	2,718	2,830	1,425	1,391	1,222	1,153	1,374	1,764	1,810	2,445
	0	0	0	0	0	0	0	3,117	3,355	3,784
Cash & Bank	177	118	362	389	505	601	709	1,150	1,581	1,289
	6,355	7,597	10,910	10,209	10,163	11,147	12,799	10,537	12,661	16,168
Total Assets	10,966	12,217	14,479	13,597	13,482	14,394	16,489	18,034	20,961	25,965

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
	356	716	912	1,072	866	1,601	1,404	1,359	742	-459
Cash from Investing	376	-188	-619	11	-207	-66	-192	-319	-59	-766
Cash from Financing	-818	-453	89	-1,047	-558	-1,275	-893	-771	-247	878
	-129	-56	143	-105	77	75	16	270	436	-346

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
	22.00	22.00	22.02	22.11	22.11	22.11	22.25	22.81	23.08
	23.65	20.86	18.13	13.79	12.70	12.87	11.49	12.11	11.29
	11.40	12.34	14.17	15.60	17.50	16.65	15.30	16.40	17.88
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	42.95	44.79	45.68	48.49	47.69	48.37	50.96	48.68	47.74

Documents

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

2026-09-09

General Updates

2026-09-09 - NCC Limited has informed the Exchange about disclosure regarding ESG Rating by Crisil ESG Ratings & Analytics Limited

2026-08-31

Bagging/Receiving of orders/contracts

2026-08-31 - NCC Limited has informed the Exchange about Bagging/Receiving of orders/contracts during the Month of August 2026.

2026-08-28

Shareholders meeting

2026-08-28 - NCC Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 27, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-27

Shareholders meeting

2026-08-27 - NCC Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 27, 2026

2026-08-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-11 - NCC Limited has informed the Exchange about Transcript

2026-08-07

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-07 - NCC Limited has informed the Exchange about Link of Recording

2026-08-07

Copy of Newspaper Publication

2026-08-07 - NCC Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-06

Investor Presentation

2026-08-06 - NCC Limited has informed the Exchange about Investor Presentation

2026-08-06

Outcome of Board Meeting

2026-08-06 - NCC Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

News

Recent coverage and analyst commentary for NCC

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NCC Ltd.

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Free 5nance Account

Name

3915.00

32.47

538651.57

0.97

4988.03

15.51

67941.74

6.69

15.98

12.00

RVNL

205.00

47.52

42742.91

0.35

159.52

18.73

4321.23

10.55

10.81

4.41

KPIL

1435.05

21.56

24506.71

0.77

311.53

45.85

6407.97

3.84

18.95

8.77

IRB

19.64

24.86

23721.19

1.32

3062.70

1412.58

21372.72

918.25

7.72

53.93

CEMPRO

1244.10

35.53

21372.09

0.24

140.83

2.64

2720.92

7.02

33.53

10.09

ENGINERSIN

269.20

19.30

15130.18

1.86

157.94

141.49

819.84

-5.80

30.94

20.61

TECHNOE

972.50

26.24

11310.13

0.72

93.33

-31.44

630.34

19.84

14.86

15.79

WELENT

782.75

35.45

10834.34

0.38

56.36

-44.29

773.72

-8.44

16.44

19.49

KEC

406.45

19.54

10819.70

1.35

72.62

-41.72

5023.54

0.01

16.35

5.79

IRCON

113.20

20.33

10646.64

1.68

92.03

-43.92

1955.83

9.49

10.15

9.81

AFCONS

253.95

64.55

9339.89

0.79

30.30

-77.95

2671.00

-20.75

12.88

9.42

NCC

141.00

12.65

8852.64

1.56

228.90

11.85

5811.83

12.22

16.77

9.43

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

4,380

4,720

5,260

6,485

5,528

5,196

5,345

6,131

5,179

4,543

4,868

6,233

5,812

3,971

4,416

4,755

5,934

5,050

4,753

4,904

5,575

4,723

4,150

4,432

5,682

5,534

Operating Profit

409

304

505

551

478

443

441

556

456

393

436

550

278

OPM %

9.34%

6.44%

9.61%

8.49%

8.65%

8.52%

8.25%

9.07%

8.81%

8.66%

8.96%

8.83%

4.78%

-2

Interest

132

153

156

153

155

167

166

193

164

172

196

213

198

Depreciation

Profit before Tax

250

124

324

358

299

250

260

368

266

207

180

291

312

Tax %

27.23%

31.31%

29.09%

33.37%

25.79%

30.22%

24.69%

27.72%

23.92%

19.98%

25.80%

26.43%

26.55%

Net Profit

223

175

206

265

205

167

135

217

229

2.76

1.23

3.51

3.81

3.34

2.60

3.08

4.04

3.06

2.46

1.95

3.28

3.45

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

9,001

8,391

12,896

8,901

7,949

11,138

15,553

20,845

22,199

20,823

21,456

8,333

7,511

11,296

7,814

7,030

10,114

14,094

19,076

20,281

18,987

19,798

Operating Profit

667

879

1,599

1,087

919

1,024

1,459

1,769

1,918

1,836

1,658

OPM %

7.42%

10.48%

12.40%

12.21%

11.56%

9.19%

9.38%

8.49%

8.64%

8.82%

7.73%

126

-23

103

274

133

156

Interest

513

460

522

554

480

478

515

595

680

745

780

Depreciation

203

172

193

199

181

187

203

212

216

235

249

Profit before Tax

219

894

387

363

635

885

1,061

1,187

952

989

Tax %

81.86%

36.62%

36.54%

18.82%

21.92%

22.16%

26.97%

30.21%

26.87%

23.97%

25.01%

Net Profit

139

568

314

283

494

646

740

868

724

741

EPS

0.57

2.99

9.63

5.59

4.39

7.86

9.77

11.32

13.06

10.76

—

Dividend Payout %

70.19%

35.62%

15.57%

3.62%

18.18%

25.28%

22.67%

19.44%

16.85%

20.45%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

111

120

122

126

Minority Interest

329

300

277

253

298

293

319

172

179

160

3,336

3,962

4,448

4,784

5,023

5,454

6,041

6,514

7,198

7,743

2,781

2,318

2,902

2,288

2,076

1,328

1,004

935

1,489

3,184

Trade Payables

3,141

3,586

4,515

4,120

3,829

4,398

5,306

6,613

6,715

7,896

1,268

1,930

2,217

2,030

2,135

2,798

3,693

3,675

5,255

6,855

Total Liabilities

10,966

12,217

14,479

13,597

13,482

14,394

16,489

18,034

20,961

25,965

986

1,030

1,293

1,144

1,131

1,139

1,239

1,271

1,370

1,776

Capital Work in Progress

351

729

619

475

448

440

346

352

155

148

153

2,718

2,830

1,425

1,391

1,222

1,153

1,374

1,764

1,810

2,445

3,117

3,355

3,784

Cash & Bank

177

118

362

389

505

601

709

1,150

1,581

1,289

6,355

7,597

10,910

10,209

10,163

11,147

12,799

10,537

12,661

16,168

Total Assets

10,966

12,217

14,479

13,597

13,482

14,394

16,489

18,034

20,961

25,965

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

356

716

912

1,072

866

1,601

1,404

1,359

742

-459

Cash from Investing

376

-188

-619

-207

-66

-192

-319

-59

-766

Cash from Financing

-818

-453

-1,047

-558

-1,275

-893

-771

-247

878

-129

-56

143

-105

270

436

-346

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

22.00

22.02

22.11

22.25

22.81

23.08

23.65

20.86

18.13

13.79

12.70

12.87

11.49

12.11

11.29

11.40

12.34

14.17

15.60

17.50

16.65

15.30

16.40

17.88

Government

0.00

42.95

44.79

45.68

48.49

47.69

48.37

50.96

48.68

47.74

NCC 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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NCC 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