North Eastern Carrying Corporation Ltd

₹ 18.8 -2.34%

24 Sep 1:14 p.m.

About

Incorporated in 1984, North Eastern Carrying Corporation Ltd is in the
business of Transportation^[1]

Key Points

Business Overview:^[1]^[2]
The Company provides logistics and transportation services through Commercial Vehicles and Electric Commercial Vehicles (EVs), offering customised PTL, FTL, ODC and Bulk transportation solutions across India, with a strong presence in the Northern and North-Eastern regions. It also operates in Nepal, Bhutan, Tibet and border areas of Bangladesh, providing integrated services including warehousing and customs clearance.

Website BSE NSE - BE

Market Cap ₹ 196 Cr.
Current Price ₹ 18.8
High / Low ₹ 24.0 / 10.4
Stock P/E 24.6
Book Value ₹ 22.7
Dividend Yield 0.00 %
ROCE 5.49 %
ROE 2.15 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.83 times its book value
Promoter holding has increased by 1.97% over last quarter.

Cons

Though the company is reporting repeated profits, it is not paying out dividend
The company has delivered a poor sales growth of 5.96% over past five years.
Company has a low return on equity of 3.86% over last 3 years.
Earnings include an other income of Rs.7.82 Cr.
Company has high debtors of 154 days.

* 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

Services Services Transport Services Logistics Solution Provider

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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
	83.85	73.84	85.59	91.84	77.63	81.94	81.05	88.10	69.10	70.75	71.97	96.23	75.58
	79.09	69.04	79.15	87.08	70.03	75.39	75.74	85.61	63.79	67.91	65.35	94.08	71.10
Operating Profit	4.76	4.80	6.44	4.76	7.60	6.55	5.31	2.49	5.31	2.84	6.62	2.15	4.48
OPM %	5.68%	6.50%	7.52%	5.18%	9.79%	7.99%	6.55%	2.83%	7.68%	4.01%	9.20%	2.23%	5.93%
	0.28	0.11	0.10	1.11	0.37	0.05	0.03	0.26	0.15	2.88	1.38	1.89	1.67
Interest	2.25	2.03	2.57	2.21	1.97	1.90	1.86	1.34	2.45	2.30	2.40	2.16	2.11
Depreciation	0.79	0.78	0.88	0.68	0.74	0.68	0.56	0.58	0.61	0.77	0.85	1.02	0.75
Profit before tax	2.00	2.10	3.09	2.98	5.26	4.02	2.92	0.83	2.40	2.65	4.75	0.86	3.29
Tax %	25.50%	44.76%	18.77%	3.69%	30.23%	28.61%	33.22%	-112.05%	25.83%	31.32%	27.58%	18.60%	38.91%
	1.49	1.15	2.52	2.86	3.67	2.87	1.94	1.76	1.78	1.82	3.45	0.70	2.01
EPS in Rs	0.16	0.12	0.27	0.30	0.38	0.29	0.19	0.18	0.18	0.18	0.34	0.07	0.19
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	531	538	548	384	343	376	231	250	306	335	329	308	315
	511	518	528	369	328	358	222	235	286	314	306	290	298
Operating Profit	20	21	20	16	15	18	9	15	20	21	23	18	16
OPM %	3.8%	3.8%	3.6%	4.1%	4.3%	4.8%	3.9%	6%	6%	6%	7%	6%	5%
	1	1	1	1	1	1	2	0	0	2	1	6	8
Interest	9	10	9	7	6	7	7	6	8	9	8	10	9
Depreciation	3	3	3	3	3	3	3	4	3	3	3	3	3
Profit before tax	9	9	9	6	7	9	1	6	9	10	13	11	12
Tax %	35%	37%	38%	35%	36%	27%	-21%	25%	39%	21%	21%	27%
	6	6	6	4	5	6	1	4	6	8	10	8	8
EPS in Rs	0.58	0.59	0.59	0.41	0.47	0.67	0.15	0.45	0.60	0.84	1.03	0.78	0.78
Dividend Payout %	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%	-0%

Compounded Sales Growth
10 Years:	-5%
5 Years:	6%
3 Years:	0%
TTM:	-2%

Compounded Profit Growth
10 Years:	-2%
5 Years:	28%
3 Years:	-5%
TTM:	-4%

Stock Price CAGR
10 Years:	-6%
5 Years:	3%
3 Years:	-4%
1 Year:	-10%

Return on Equity
10 Years:	4%
5 Years:	4%
3 Years:	4%
Last Year:	2%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	50	50	50	50	50	50	50	50	50	95	100	100
Reserves	17	23	28	32	37	43	45	49	55	99	119	127
	74	78	83	54	72	76	86	101	119	103	106	124
	22	16	15	18	23	30	16	18	20	20	20	21
Total Liabilities	163	167	177	154	182	199	196	218	243	317	345	372
	15	18	18	19	20	17	14	13	14	13	8	24
CWIP	-0	-0	-0	-0	-0	-0	-0	-0	-0	-0	4	-0
Investments	0	0	0	-0	-0	-0	-0	-0	-0	5	5	9
	148	149	158	135	162	183	183	205	230	299	327	340
Total Assets	163	167	177	154	182	199	196	218	243	317	345	372

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1	2	-2	34	-13	-4	-11	-10	-14	-46	-21	-9
	-2	-7	-3	-3	-4	-0	0	-2	-3	-6	-2	-16
	2	4	5	-30	19	4	10	15	18	65	17	19
Net Cash Flow	0	-0	0	1	1	-0	0	2	0	13	-6	-6
Free Cash Flow	-1	-5	-5	31	-17	-4	-11	-13	-18	-48	-23	-21
CFO/OP	20%	26%	7%	228%	-68%	-8%	-118%	-55%	-58%	-206%	-81%	-38%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	78	81	84	93	117	112	165	154	138	131	138	154
Inventory Days
Days Payable
Cash Conversion Cycle	78	81	84	93	117	112	165	154	138	131	138	154
Working Capital Days	33	35	39	61	66	69	116	116	119	178	209	235
ROCE %	12%	13%	11%	9%	8%	10%	5%	6%	8%	7%	7%	5%

Insights

In beta

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Number of Branches/Offices
count

xxx	xxx	xxx	xxx	xxx	xxx		xxx	xxx	xxx
	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
xxx	xxx	xxx	xxx	xxx	xxx		xxx	xxx	xxx
	x.xx	x.xx	x.xx	x.xx	x.xx		x.xx	x.xx	x.xx
		xx.xx	xx.xx	xx.xx	xx.xx	xx.xx	xx.xx
		xxx	xxx	xxx	xxx
							x	x	x

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Top Customer Concentration (% of Revenue)
%

Total Employees
count

Warehousing Capacity
Million sq. ft.

PTL Revenue Share
%

Owned Fleet (Trucks)
count

PTL Customer Base
lakh customers

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

3 Recently

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.68%	52.68%	52.68%	52.30%	54.19%	54.19%	54.19%	54.19%	54.19%	54.19%	54.19%	56.16%
	0.00%	0.04%	0.15%	0.12%	0.01%	0.04%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%
	47.32%	47.29%	47.17%	47.58%	45.79%	45.77%	45.81%	45.82%	45.79%	45.80%	45.81%	43.83%
No. of Shareholders	18,707	31,254	33,082	36,113	46,238	48,700	47,794	46,714	45,725	44,171	42,909	42,243

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	74.83%	67.52%	54.66%	54.66%	56.66%	56.66%	52.67%	52.68%	52.68%	54.19%	54.19%	56.16%
	0.00%	0.00%	0.80%	0.80%	1.36%	2.11%	0.09%	0.00%	0.15%	0.00%	0.00%	0.00%
	0.00%	0.00%	0.08%	0.06%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
	25.17%	32.48%	44.46%	44.48%	41.96%	41.23%	47.23%	47.33%	47.17%	45.81%	45.81%	43.83%
No. of Shareholders	1,200	17,280	18,238	16,580	15,394	14,511	19,941	17,595	33,082	47,794	42,909	42,243

* 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.

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North Eastern Carrying Corporation Ltd

North Eastern Carrying Corporation Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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