NSE: NCC | BSE: 500294

Value Stock, Under Radar

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224.23 1.58 (0.71%)

38.48% Fall from 52W High

1.3M NSE+BSE Volume

NSE 08 Jul, 2025 3:31 PM (IST)

14,078.2

Market Cap

High in industry

1.5

Beta 1Year

Very High Volatility

NCC Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for NCC, BSE:500294 NCC Ltd.

NCC Ltd.

05 Nov 2019

224.23

0.71%

NCC Ltd. (NJCC) has reported better-than-expected operating performance in 2QFY20 despite missing our estimate on revenue front. While revenue declined by 44% YoY to Rs17.3bn vs. our estimate of Rs19.3bn, EBITDA came in ahead of estimates at Rs2.33bn (-36% YoY and -13% QoQ) vs. our estimate of Rs2.22bn. EBITDA margin improved by 170bps YoY and 127bps QoQ to 13.5% vs. our estimate of 11.5%. Notably, claims worth Rs310mn booked pertaining to three Maharashtra projects led to higher margin, adjusted for which its margin stood at 11.7%. APAT declined by 62% YoY to Rs601mn marginally ahead of estimate of Rs587mn mainly led by better operational performance. NJCC secured order worth Rs15.2bn during the quarter...

NCC Ltd. has lost -33.22% in the last 1 Year

NCC Ltd.

05 Nov 2019

224.23

0.71%

NCC

Buy: NCC Ltd.

Target

Dolat Capital

View: Another bad quarter, recovery in FY21E; maintain Buy NCC reported lower than expected numbers on all fronts. NCC posted weak set of numbers with 44.2%/ 36.2%/ 82.7% YoY degrowth in Revenue/ EBITDA/ APAT to `17.3 bn/ `2.3 bn/ `300 mn due to lower execution coupled with higher depreciation + interest cost...

NCC Ltd. has an average target of 284.00 from 5 brokers.

NCC Ltd.

21 Aug 2019

224.23

0.71%

NCC LIMITED

Sell: NCC Ltd.

Target

Geojit BNP Paribas

However, EBITDA margin improved by 84bps YoY to 12.2% led by lower material cost and drop in sub-contracting expenses. Order book now stands at Rs33,495cr (2.8x TTM revenue), however, projects worth Rs12,500cr is still constituting from AP region where company is facing issues with the state government....

Number of FII/FPI investors decreased from 317 to 241 in Mar 2025 qtr

NCC Ltd.

13 Aug 2019

224.23

0.71%

NCC Limited

Buy: NCC Ltd.

Target

ICICI Securities Limited

Standalone orderbook at | 33,495 crore as of Q1FY20 NCC's standalone orderbook (OB) was at a strong | 33,495 crore, 2.8x TTM revenues, providing strong revenue visibility ahead. The overall OB has declined QoQ as the management has removed orders worth | 6,100 crore in Andhra Pradesh that it had earlier indicated were uncertain following a state government notification. Adjusting this, NCC has | 12,500 crore orders (~37% of total order book) from AP, which consists of Amravati capital city (| 6,500 crore), APTIDCO housing project (| 4,975 crore) and Water &...

NCC Ltd. is trading above its 100 day SMA of 213.2

NCC Ltd.

12 Aug 2019

224.23

0.71%

NCC -1QFY20 Result Update

Buy: NCC Ltd.

Target

Reliance Securities

Poor Performance on Soft Execution & Projects Disruption in AP NCC (NJCC) has reported a poor performance in 1QFY20, as projects cancellation, reassessment of projects and payment delays impacted its revenue booking. Resultantly, revenue declined by 7% YoY and 35% QoQ to Rs21.8bn. EBITDA broadly stood flat on YoY basis at Rs2.66bn, while EBITDA margin stood at strong 12.2% (+84bps YoY and +45bps QoQ) mainly led by settlement of claims with the clients during the quarter. Dismal revenue booking along with higher finance cost (+24% YoY and +8% QoQ) and lower other income (-15% YoY and -31% QoQ) led to steep 21% YoY decline in net profit to Rs813mn. A high exposure in AP and political shift in the state along with general slowdown led by...

NCC Ltd. has an average target of 284.00 from 5 brokers.

NCC Ltd.

10 Aug 2019

224.23

0.71%

NCC (1QFY20): Headwinds receding. Maintain BUY

Buy: NCC Ltd.

Target

HDFC Securities

NCC has seen significant de-rating post the AP Govt order cancellation and uncertainty of execution on balance Rs 125bn of AP order book. Our channel checks will local Govt officials suggest work of significant importance will start in next 3months. We ascribe low probability of further project cancellation for NCC in AP. Debt levels may remain at current levels, though AP receivable realization may take time. Sembcorp arbitration will unlock Rs 4-5bn of cash inflow. With inexpensive valuation (6.3x Core EPC FY21E EPS) and receding headwinds we maintain BUY. Key risks (1) Adverse ruling on ongoing arbitrations; (2) Slow down in government capex; (3) Deterioration in NWC days; and (4) Weak real estate monetization. NCC reported inline 1QFY20 performance with Rev/EBIDTA/APAT beat of (4.5)/2.5/1.6%. We expect AP projects execution to resume from Oct-19. Core EPC valuation is inexpensive at 6.3x FY21E EPS. Maintain BUY with a TP of Rs 154/Sh (EPC business at 15x FY21E EPS).

NCC Ltd. is trading below its 30 day SMA of 229.9

NCC Ltd.

25 Jul 2019

224.23

0.71%

NCC (NOT RATED): Management call takeaways A tough FY20; better times ahead

Not Rated: NCC Ltd.

BOB Capital Markets Ltd.

We spoke with Y D Murthy, Executive Vice President Finance, of NCC Ltd (NJCC) for an update on Andhra Pradesh work orders.

NCC Ltd. has an average target of 284.00 from 5 brokers.

NCC Ltd.

01 Jun 2019

224.23

0.71%

NCC LIMITED

Sell: NCC Ltd.

Recommendation Target

Geojit BNP Paribas

After the formation of new state government in Andhra Pradesh, the government has announced cancellation of some infra projects sanctioned by previous government prior to April 1, 2019. As per government, It is noted that a number of engineering works were...

Number of FII/FPI investors decreased from 317 to 241 in Mar 2025 qtr

NCC Ltd.

31 May 2019

224.23

0.71%

NCC Limited

Buy: NCC Ltd.

Target

ICICI Securities Limited

As per media reports, new AP government cancels all tenders sanctioned under previous government As per media reports, in Andhra Pradesh, the YS Jaganmohan Reddy government has taken a crucial decision to stop works that were sanctioned (during the Chandra Babu Naidu government) but not grounded. It would also review the ongoing works before making payments. The media reports indicate that the state chief secretary LV Subrahmanyam has issued the orders on behalf of the finance department and suggested that all works...

NCC Ltd. has lost -33.22% in the last 1 Year

NCC Ltd.

28 May 2019

224.23

0.71%

NCC LIMITED

Buy: NCC Ltd.

Target

Geojit BNP Paribas

Solid execution in road, building and electrical division led to a top -line growth of 42% YoY in Q4FY19. Order book remain robust at Rs39,216cr (3.2x TTM revenue) supported by 272% YoY growth in order bookings in Q4FY19. Despite, increase in execution EBITDA margin remains flat at 11.7% due to increase in sub-contracting and other expenses....

NCC Ltd. is trading below its 30 day SMA of 229.9

Is NCC Ltd. worth buying?

1842 Votes:

Buy 81.65%

Sell 9.61%

Hold 8.74%

RESEARCH REPORTS

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