Nesco Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Nesco IT Park: 42.7% • Bombay Exhibition Centre/ Realty: 27.9% • Nesco Foods: 25.6%
AI Sector View
AI GENERATEDServices
Broad services remain in expansion. Services PMI was 54.1 (Aug/26), export of services grew 13.0% YoY (2026-06), and urban employment was still positive at 2.0% YoY (2026-07), although airport passenger traffic was -2.0% YoY (2026-06). FPI inflows of INR 7081 crore over 3 months to 2026-08-31 support the constructive sector view.
PROS
- Company is almost debt free
- Company has a healthy return on capital (ROCE) of 20.7%
- Company has delivered good sales growth of 26.2% CAGR over last 5 years
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 0.97x)
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
CONS
- Operating margins have contracted to 52.0% from 75.4%
- Though reporting repeated profits, the company pays out little dividend (11.9%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PFOCUS | 316.65 | 213.36 | 24659.87 | 0.00 | -457.78 | -514.43 | 12668.15 | 1196.88 | 2.74 | 23.76 |
| SAGILITY | 45.05 | 21.24 | 21089.38 | 0.33 | 216.81 | 45.94 | 1963.48 | 27.59 | 13.82 | 22.32 |
| HORIZONIND | 55.65 | 244.03 | 16043.35 | 0.00 | — | — | — | — | 3.32 | — |
| SYNGENE | 386.45 | 70.59 | 15599.79 | 0.32 | -9.00 | -110.38 | 736.00 | -15.84 | 9.48 | 12.34 |
| INDGN | 586.50 | 35.25 | 14132.70 | 0.38 | 116.20 | -0.17 | 1063.10 | 39.73 | 18.92 | 16.39 |
| IGIL | 311.35 | 22.07 | 13455.29 | 1.61 | 165.74 | 30.98 | 370.78 | 23.22 | 77.00 | 60.35 |
| NESCO | 1098.55 | 18.58 | 7740.38 | 0.64 | 99.96 | 3.97 | 211.80 | 9.55 | 19.23 | 48.33 |
| SPARC | 200.70 | 4.11 | 6513.15 | 0.00 | -20.78 | 59.94 | 39.92 | 314.11 | 163.94 | -85.17 |
| LEAPIND | 145.40 | 102.75 | 6405.40 | 0.00 | 247.33 | — | 2034.13 | — | 9.32 | 51.19 |
| SMARTWORKS | 547.00 | 224.47 | 6256.64 | 0.00 | 13.15 | 413.27 | 546.25 | 44.05 | 61.12 | 63.33 |
| JUSTDIAL | 675.30 | 15.82 | 5743.36 | 0.00 | 115.74 | 38.44 | 270.27 | 16.23 | 12.88 | 26.17 |
| LATENTVIEW | 260.25 | 27.58 | 5389.34 | 0.00 | 47.10 | -6.84 | 286.88 | 21.55 | 16.69 | 19.76 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 137 | 175 | 178 | 189 | 141 | 192 | 207 | 192 | 193 | 239 | 248 | 252 | 212 | |
| 50 | 66 | 64 | 72 | 55 | 73 | 81 | 85 | 83 | 103 | 122 | 134 | 128 | |
| Operating Profit | 86 | 109 | 114 | 117 | 86 | 120 | 125 | 107 | 110 | 136 | 126 | 118 | 83 |
| OPM % | 63.04% | 62.37% | 64.04% | 62.06% | 60.90% | 62.23% | 60.73% | 55.56% | 57.10% | 56.91% | 50.82% | 46.86% | 39.40% |
| 25 | 23 | 27 | 31 | 30 | 33 | 31 | 20 | 28 | 24 | 26 | 21 | 44 | |
| Interest | 3 | 5 | 6 | 0 | 3 | 6 | 2 | 1 | 4 | 5 | 8 | 8 | 7 |
| Depreciation | 14 | 14 | 14 | 12 | 12 | 12 | 13 | 13 | 11 | 12 | 13 | 14 | 12 |
| Profit before Tax | 94 | 112 | 121 | 136 | 100 | 135 | 142 | 112 | 124 | 143 | 132 | 116 | 127 |
| Tax % | 18.68% | 21.89% | 22.51% | 22.71% | 30.56% | 20.84% | 22.49% | 20.75% | 22.34% | 17.13% | 20.64% | 20.09% | 21.32% |
| Net Profit | 76 | 88 | 94 | 105 | 70 | 107 | 110 | 89 | 96 | 119 | 105 | 93 | 100 |
| 10.80 | 12.46 | 13.30 | 14.92 | 9.90 | 15.17 | 15.60 | 12.58 | 13.65 | 16.88 | 14.85 | 13.21 | 14.19 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 306 | 304 | 360 | 432 | 291 | 337 | 546 | 678 | 732 | 932 | 951 | |
| 92 | 88 | 128 | 153 | 106 | 121 | 199 | 255 | 314 | 447 | 487 | |
| Operating Profit | 214 | 216 | 233 | 278 | 185 | 216 | 347 | 423 | 418 | 485 | 463 |
| OPM % | 69.96% | 71.01% | 64.54% | 64.46% | 63.63% | 64.11% | 63.62% | 62.39% | 57.11% | 52.03% | 48.76% |
| 43 | 36 | 32 | 42 | 65 | 48 | 65 | 108 | 133 | 105 | 115 | |
| Interest | 5 | 6 | 5 | 6 | 8 | 9 | 12 | 14 | 12 | 25 | 29 |
| Depreciation | 8 | 11 | 12 | 22 | 26 | 28 | 33 | 54 | 50 | 49 | 50 |
| Profit before Tax | 244 | 235 | 248 | 292 | 216 | 227 | 367 | 463 | 489 | 516 | 519 |
| Tax % | 30.49% | 24.84% | 27.25% | 20.00% | 20.27% | 16.46% | 20.80% | 21.64% | 23.29% | 19.95% | 19.71% |
| Net Profit | 169 | 177 | 180 | 234 | 172 | 189 | 291 | 363 | 375 | 413 | 417 |
| EPS | 24.05 | 25.08 | 25.57 | 33.18 | 24.48 | 26.86 | 41.25 | 51.49 | 53.26 | 58.59 | — |
| Dividend Payout % | 9.15% | 9.17% | 9.78% | 9.04% | 12.25% | 11.17% | 10.91% | 11.65% | 12.20% | 11.95% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 14%
- 5 Years:
- 26%
- 3 Years:
- 20%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 11%
- 5 Years:
- 19%
- 3 Years:
- 12%
STOCK PRICE CAGR
- 10 Years:
- 13%
- 5 Years:
- 13%
- 3 Years:
- 15%
- 1 Year:
- -28%
RETURN ON EQUITY
- 10 Years:
- 16%
- 5 Years:
- 15%
- 3 Years:
- 16%
- Last Year:
- 15%
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 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 14 |
| 837 | 995 | 1,154 | 1,341 | 1,512 | 1,681 | 1,950 | 2,282 | 2,615 | 2,982 | |
| 80 | 15 | 66 | 122 | 129 | 161 | 155 | 178 | 210 | 473 | |
| Trade Payables | 22 | 9 | 11 | 15 | 11 | 9 | 14 | 15 | 12 | 15 |
| 79 | 146 | 101 | 116 | 153 | 104 | 129 | 161 | 164 | 204 | |
| Total Liabilities | 1,032 | 1,179 | 1,346 | 1,607 | 1,819 | 1,969 | 2,263 | 2,650 | 3,016 | 3,689 |
| 188 | 98 | 92 | 94 | 87 | 174 | 151 | 121 | 299 | 578 | |
| Capital Work in Progress | 262 | 356 | 507 | 1 | 51 | 82 | 85 | 162 | 753 | 763 |
| 482 | 499 | 531 | 673 | 810 | 847 | 1,161 | 1,494 | 1,136 | 1,520 | |
| 13 | 12 | 9 | 9 | 7 | 8 | 12 | 14 | 10 | 13 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 12 | 16 | 19 | |
| Cash & Bank | 5 | 7 | 4 | 10 | 6 | 7 | 18 | 28 | 19 | 24 |
| 82 | 207 | 202 | 821 | 858 | 853 | 836 | 819 | 784 | 770 | |
| Total Assets | 1,032 | 1,179 | 1,346 | 1,607 | 1,819 | 1,969 | 2,263 | 2,650 | 3,016 | 3,689 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 220 | 201 | 248 | 265 | 173 | 208 | 373 | 377 | 349 | 388 | |
| Cash from Investing | -153 | -123 | -155 | -157 | -142 | -142 | -266 | -334 | -315 | -610 |
| Cash from Financing | -0 | -19 | -20 | -47 | -0 | -21 | -24 | -33 | -42 | 222 |
| -1 | 2 | -3 | 4 | -3 | 1 | 8 | 10 | -8 | 0 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Nesco Limited has informed the Exchange about Action(s) taken or orders passed
2026-09-02 - Nesco Limited has informed the Exchange about Schedule of meet and Presentation
2026-08-27 - Nesco Limited has informed the Exchange about Action(s) taken or orders passed
2026-08-27 - Nesco Limited has informed the Exchange about Granting of key licenses
2026-08-11 - The Exchange has sought clarification from Nesco Limited for the quarter ended 30-Jun-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-08-10 - Nesco Limited has informed the Exchange about Schedule of meet of Analysts/ Institutional Investors Meet
2026-08-04 - Nesco Limited has informed the Exchange about Schedule of meet
2026-08-03 - Nesco Limited has informed the Exchange regarding ''Transcript of 67th AGM held on 27 July 2026'.
2026-07-28 - Nesco Limited has informed the Exchange regarding Appointment of Senior Management Personnel of the Company
News
Recent coverage and analyst commentary for NESCO
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