NCC Ltd
Incorporated in 1978, NCC Limited undertakes turnkey EPC contracts and BOT projects on Public-Private Partnership basis[1]
- Market Cap ₹ 13,552 Cr.
- Current Price ₹ 216
- High / Low ₹ 327 / 170
- Stock P/E 16.9
- Book Value ₹ 117
- Dividend Yield 1.02 %
- ROCE 21.7 %
- ROE 11.4 %
- Face Value ₹ 2.00
Pros
- Company has been maintaining a healthy dividend payout of 19.6%
Cons
- Company has a low return on equity of 11.0% 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
Industrials Construction Construction Civil Construction
Part of BSE 500 Nifty 500 BSE SmallCap Nifty Smallcap 100 Nifty High Beta 50
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
7,272 | 9,513 | 9,527 | 9,001 | 8,391 | 12,896 | 8,901 | 7,949 | 11,138 | 15,553 | 20,845 | 22,199 | 21,850 | |
6,514 | 8,513 | 8,540 | 8,326 | 7,518 | 11,303 | 7,824 | 7,030 | 10,110 | 14,094 | 19,076 | 20,281 | 19,955 | |
Operating Profit | 758 | 1,000 | 987 | 675 | 873 | 1,592 | 1,077 | 919 | 1,028 | 1,459 | 1,769 | 1,918 | 1,895 |
OPM % | 10% | 11% | 10% | 8% | 10% | 12% | 12% | 12% | 9% | 9% | 8% | 9% | 9% |
105 | 127 | 71 | 87 | -23 | 17 | 63 | 105 | 272 | 144 | 99 | 165 | 166 | |
Interest | 654 | 737 | 643 | 513 | 460 | 522 | 554 | 480 | 478 | 515 | 595 | 680 | 689 |
Depreciation | 235 | 277 | 248 | 203 | 172 | 193 | 199 | 181 | 187 | 203 | 212 | 216 | 217 |
Profit before tax | -27 | 113 | 167 | 46 | 219 | 894 | 387 | 363 | 635 | 885 | 1,061 | 1,187 | 1,156 |
Tax % | -138% | 45% | 51% | 82% | 37% | 37% | 19% | 22% | 22% | 27% | 30% | 27% | |
-9 | 48 | 82 | 8 | 139 | 568 | 314 | 283 | 494 | 646 | 740 | 868 | 850 | |
EPS in Rs | 0.06 | 0.97 | 2.17 | 0.57 | 2.81 | 9.63 | 5.52 | 4.40 | 7.91 | 9.70 | 11.32 | 13.06 | 12.78 |
Dividend Payout % | 156% | 41% | 28% | 70% | 36% | 16% | 4% | 18% | 25% | 23% | 19% | 17% |
Compounded Sales Growth | |
---|---|
10 Years: | 9% |
5 Years: | 20% |
3 Years: | 26% |
TTM: | -1% |
Compounded Profit Growth | |
---|---|
10 Years: | 34% |
5 Years: | 17% |
3 Years: | 34% |
TTM: | 4% |
Stock Price CAGR | |
---|---|
10 Years: | 13% |
5 Years: | 46% |
3 Years: | 45% |
1 Year: | -32% |
Return on Equity | |
---|---|
10 Years: | 8% |
5 Years: | 9% |
3 Years: | 11% |
Last Year: | 11% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 51 | 111 | 111 | 111 | 120 | 120 | 122 | 122 | 122 | 126 | 126 | 126 |
Reserves | 2,715 | 3,291 | 3,281 | 3,336 | 3,962 | 4,475 | 4,784 | 5,049 | 5,481 | 6,041 | 6,514 | 7,198 |
3,914 | 3,390 | 3,208 | 2,572 | 2,061 | 2,691 | 2,181 | 2,062 | 1,302 | 974 | 980 | 1,594 | |
5,435 | 5,753 | 5,721 | 5,090 | 6,265 | 7,374 | 6,724 | 6,307 | 7,553 | 9,409 | 10,475 | 12,083 | |
Total Liabilities | 12,115 | 12,545 | 12,321 | 11,109 | 12,408 | 14,660 | 13,812 | 13,540 | 14,458 | 16,550 | 18,095 | 21,000 |
2,608 | 2,446 | 1,674 | 1,099 | 1,158 | 1,551 | 1,413 | 1,417 | 1,443 | 1,503 | 1,565 | 1,650 | |
CWIP | 24 | 11 | 8 | 1 | 23 | 13 | 15 | 22 | 7 | 22 | 41 | 37 |
Investments | 1,108 | 1,133 | 1,128 | 729 | 619 | 475 | 448 | 440 | 346 | 352 | 155 | 148 |
8,375 | 8,955 | 9,510 | 9,281 | 10,608 | 12,621 | 11,935 | 11,661 | 12,662 | 14,673 | 16,334 | 19,165 | |
Total Assets | 12,115 | 12,545 | 12,321 | 11,109 | 12,408 | 14,660 | 13,812 | 13,540 | 14,458 | 16,550 | 18,095 | 21,000 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
634 | 867 | 395 | 314 | 586 | 673 | 931 | 842 | 1,416 | 1,100 | 1,359 | 742 | |
-67 | -95 | 193 | 376 | -188 | -619 | 11 | -207 | -66 | -192 | -319 | -59 | |
-643 | -643 | -551 | -818 | -453 | 89 | -1,047 | -558 | -1,275 | -893 | -771 | -247 | |
Net Cash Flow | -75 | 129 | 37 | -129 | -56 | 143 | -105 | 77 | 75 | 16 | 270 | 436 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 88 | 64 | 141 | 167 | 216 | 97 | 112 | 126 | 83 | 75 | 55 | 55 |
Inventory Days | 312 | 218 | 265 | 290 | 338 | 103 | 166 | 180 | 117 | 102 | 87 | 85 |
Days Payable | 255 | 175 | 301 | 335 | 428 | 328 | 491 | 565 | 447 | 393 | 325 | 384 |
Cash Conversion Cycle | 145 | 107 | 105 | 122 | 126 | -127 | -213 | -258 | -246 | -217 | -184 | -244 |
Working Capital Days | 7 | 29 | 41 | 68 | 91 | 121 | 90 | 107 | 81 | 62 | 45 | 48 |
ROCE % | 9% | 12% | 12% | 8% | 12% | 21% | 13% | 11% | 12% | 19% | 22% | 22% |
Documents
Announcements
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Notice Of Petition Pursuant To The Scheme Of Arrangement Between NCC Infrastructure Holdings Limited And NCC Limited
7h - NCLT petition for scheme between NCC Infrastructure Holdings and NCC Limited admitted; hearing 17-Oct-2025; notice published 17-Sep-2025.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
2d - Received Rs.2090.5 crore Barnar reservoir construction order from Bihar Water Resources on 15 Sep 2025; 30-month execution.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Newspaper Publication regarding "100 days Campaign-Saksham Niveshak"
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Re-Lodgement Of Transfer Requests Of Physical Shares.
11 Sep - KFin report (as of Aug 31, 2025): re-lodgement requests status under SEBI circular; no approvals.
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Announcement under Regulation 30 (LODR)-Award_of_Order_Receipt_of_Order
31 Aug - Two state-government water division orders totaling Rs.788.34 crore received in August 2025.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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Aug 2025Transcript PPT
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Feb 2025Transcript PPT REC
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Business Segments
1. Construction (98.5% of 9MFY25 revenue): The company’s construction activities encompass Buildings, Transportation, Water and Environment, Electrical Transmission & Distribution, Irrigation, Mining, and Railways projects. [1] [2] It has also entered the smart meters segment.[3] It has completed 500+ building projects, 20,700 + km water pipelines and irrigated 3,50,000 acres of land.[4]