NCC Ltd

NCC Ltd

₹ 254 3.10%
24 Apr 11:52 a.m.
About

Incorporated in 1978, NCC Limited undertakes turnkey EPC contracts and BOT projects on Public-Private Partnership basis[1]

Key Points

Business Overview:[1]
NCC does construction of roads, buildings, irrigation, water and environment, electrical, metals, mining and railways. It also has interests in road and energy projects through its 62.1% owned subsidiary NCC Infrastructure Holdings Limited and in real estate through its 80% owned subsidiary NCC Urban Infrastructure. Company has presence in the Middle East through its subsidiaries in Muscat and Dubai

  • Market Cap 15,966 Cr.
  • Current Price 254
  • High / Low 278 / 99.6
  • Stock P/E 25.6
  • Book Value 102
  • Dividend Yield 0.83 %
  • ROCE 17.5 %
  • ROE 8.84 %
  • Face Value 2.00

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 22.6%
  • Debtor days have improved from 96.9 to 76.2 days.
  • Company's working capital requirements have reduced from 134 days to 91.7 days

Cons

  • Company has a low return on equity of 6.85% over last 3 years.
  • Company's cost of borrowing seems high

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Construction Industry: Construction

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,919 2,618 1,893 2,199 2,704 3,134 2,959 3,004 3,373 4,016 3,838 4,283 4,747
1,679 2,327 1,693 1,962 2,411 2,867 2,677 2,715 3,024 3,592 3,458 4,005 4,268
Operating Profit 239 291 200 237 293 267 281 289 349 424 381 279 479
OPM % 12% 11% 11% 11% 11% 9% 10% 10% 10% 11% 10% 6% 10%
24 21 19 55 -0 179 31 33 57 31 28 28 26
Interest 106 118 104 116 116 123 109 122 138 141 132 154 155
Depreciation 44 43 45 46 46 46 48 49 51 52 52 53 53
Profit before tax 114 151 71 130 130 278 156 150 218 261 224 101 298
Tax % 38% 24% 27% 20% 30% 12% 23% 19% 31% 32% 28% 31% 29%
70 115 52 104 91 243 120 122 150 178 162 69 213
EPS in Rs 1.16 1.89 0.85 1.71 1.49 3.99 1.93 1.94 2.39 2.83 2.58 1.10 3.39
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
5,104 5,603 5,926 8,297 8,325 7,892 7,559 12,080 8,219 7,256 9,930 13,351 16,885
4,704 5,132 5,521 7,648 7,557 7,205 6,704 10,657 7,189 6,401 8,934 12,009 15,322
Operating Profit 399 471 406 649 769 687 856 1,423 1,030 855 996 1,343 1,562
OPM % 8% 8% 7% 8% 9% 9% 11% 12% 13% 12% 10% 10% 9%
121 126 153 195 173 87 9 59 119 116 254 152 113
Interest 384 407 466 574 509 396 379 451 518 458 460 510 582
Depreciation 83 92 90 112 110 112 117 149 178 174 182 200 210
Profit before tax 53 98 3 159 322 267 368 882 453 339 608 785 884
Tax % 32% 36% -1,302% 30% 26% 16% 22% 36% 16% 23% 19% 27%
36 63 41 112 240 226 287 564 382 261 490 569 622
EPS in Rs 0.65 1.13 0.73 2.01 4.32 4.06 4.77 9.39 6.26 4.29 8.04 9.07 9.90
Dividend Payout % 21% 12% 13% 20% 14% 10% 21% 16% 3% 19% 25% 24%
Compounded Sales Growth
10 Years: 9%
5 Years: 12%
3 Years: 18%
TTM: 35%
Compounded Profit Growth
10 Years: 26%
5 Years: 8%
3 Years: 13%
TTM: 20%
Stock Price CAGR
10 Years: 22%
5 Years: 19%
3 Years: 49%
1 Year: 109%
Return on Equity
10 Years: 7%
5 Years: 8%
3 Years: 7%
Last Year: 9%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 51 51 51 111 111 111 120 120 122 122 122 126 126
Reserves 2,360 2,417 2,469 3,093 3,150 3,331 4,122 4,609 4,984 5,243 5,655 6,196 6,288
2,234 2,225 2,475 1,995 1,883 1,577 1,300 1,993 1,910 1,789 1,184 980 1,470
3,395 3,434 4,133 4,234 4,112 3,925 5,259 6,436 5,755 5,545 6,866 8,298 8,614
Total Liabilities 8,040 8,127 9,127 9,433 9,256 8,944 10,801 13,159 12,770 12,699 13,827 15,600 16,498
726 719 692 632 584 640 808 1,310 1,260 1,291 1,328 1,386 1,370
CWIP 35 6 10 8 8 1 23 13 15 22 7 22 18
Investments 1,240 1,254 1,164 1,157 993 1,029 1,024 919 889 999 894 875 875
6,039 6,149 7,261 7,636 7,671 7,274 8,946 10,916 10,607 10,387 11,597 13,318 14,234
Total Assets 8,040 8,127 9,127 9,433 9,256 8,944 10,801 13,159 12,770 12,699 13,827 15,600 16,498

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
976 369 370 514 489 197 447 345 636 710 1,296 873
-375 67 -173 -79 365 455 -359 -425 -164 64 -131 -132
-658 -423 -217 -409 -713 -755 -137 217 -583 -689 -1,099 -749
Net Cash Flow -56 13 -20 26 141 -103 -50 137 -111 84 66 -8

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 93 74 89 60 135 164 218 92 107 127 88 76
Inventory Days 230 250 224 148 155 178 223 39 64 81 85 83
Days Payable 231 246 215 145 259 334 445 336 488 565 458 369
Cash Conversion Cycle 92 79 97 63 31 7 -5 -204 -317 -358 -286 -210
Working Capital Days 140 136 161 133 134 134 126 91 142 185 125 92
ROCE % 9% 11% 9% 14% 16% 14% 16% 22% 14% 11% 13% 18%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
19.68% 19.68% 19.68% 19.68% 21.11% 21.99% 21.99% 22.00% 22.00% 22.00% 22.00% 22.00%
13.40% 13.26% 11.62% 8.89% 9.77% 12.80% 15.76% 19.96% 22.46% 24.18% 23.89% 27.33%
12.15% 11.52% 12.14% 12.25% 11.30% 13.10% 12.35% 12.86% 12.29% 11.03% 10.52% 10.63%
54.77% 55.54% 56.56% 59.18% 57.82% 52.10% 49.89% 45.16% 43.24% 42.81% 43.59% 40.03%
No. of Shareholders 2,98,4642,84,0283,06,0673,38,3423,40,9693,25,1802,95,8842,87,4512,94,5813,29,4983,67,8224,05,037

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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