NCC Limited (IN:NCC)
:NCC
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NCC Limited
(NCC)
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Rating:51Neutral
Price Target:
₹145.00
▼(-10.19% Downside)
Action:Reiterated
Date:05/17/26
The score is primarily weighed down by financial performance, especially the sharp 2026 cash flow reversal and margin compression, alongside rising leverage. Technicals are mixed (neutral RSI and positive MACD but weak positioning versus key moving averages), while valuation is moderate with only a modest dividend yield.
Positive Factors
Diversified end-to-end EPC platform
NCC's broad EPC scope across buildings, transport, water, irrigation and electrical reduces reliance on any single sector or client type. This multi-segment footprint supports a steadier bidding pipeline and demand resilience from both public and private clients over multi-month project cycles.
Negative Factors
Cash flow deterioration
A sharp swing to negative operating and free cash flow signals working-capital absorption or project cash strain rather than accrual profits. This materially weakens liquidity and financial flexibility, raising reliance on external funding and reducing buffer against project overruns or slower collections.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified end-to-end EPC platform
NCC's broad EPC scope across buildings, transport, water, irrigation and electrical reduces reliance on any single sector or client type. This multi-segment footprint supports a steadier bidding pipeline and demand resilience from both public and private clients over multi-month project cycles.
Read all positive factors
NCC Limited (NCC) vs. iShares MSCI India ETF (INDA)
Market Cap
₹95.15B
Dividend Yield1.37%
Average Volume (3M)144.16K
Price to Earnings (P/E)14.2
Beta (1Y)1.34
Revenue Growth-6.20%
EPS Growth-17.64%
CountryIN
Employees6,586
SectorBasic Materials
Sector Strength58
IndustryEngineering & Construction
Share Statistics
EPS (TTM)12.64
Shares Outstanding627,846,560
10 Day Avg. Volume128,816
30 Day Avg. Volume144,160
Financial Highlights & Ratios
PEG Ratio-0.69
Price to Book (P/B)1.04
Price to Sales (P/S)0.39
P/FCF Ratio-3.86
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)11.95
Revenue Forecast (FY)₹202.31B
NCC Limited Business Overview & Revenue Model
Company Description
Operating both within India and internationally, NCC Limited is a prominent construction company offering a diverse range of services. The firm specializes in erecting a variety of structures, from industrial and commercial buildings, housing deve...
How the Company Makes Money
NCC primarily makes money by executing infrastructure and construction contracts awarded by clients (often government bodies, public sector entities, and/or private customers, depending on the project). Revenue is recognized based on progress of c...
NCC Limited Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
64
Positive
Cash Flow
32
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 211.97B | 208.23B | 221.99B | 208.45B | 155.53B | 111.38B |
| Gross Profit | 30.81B | 19.85B | 33.86B | 29.95B | 25.46B | 18.99B |
| EBITDA | 18.85B | 19.33B | 19.15B | 17.69B | 14.59B | 10.28B |
| Net Income | 7.94B | 6.75B | 8.20B | 7.11B | 6.09B | 4.82B |
Balance Sheet | ||||||
| Total Assets | 234.40B | 260.06B | 210.06B | 180.97B | 165.50B | 144.58B |
| Cash, Cash Equivalents and Short-Term Investments | 7.68B | 12.91B | 10.08B | 6.28B | 3.29B | 3.00B |
| Total Debt | 29.23B | 34.57B | 15.94B | 9.80B | 9.74B | 13.02B |
| Total Liabilities | 157.27B | 179.77B | 135.04B | 112.86B | 100.65B | 85.62B |
| Stockholders Equity | 75.34B | 78.69B | 73.24B | 66.40B | 61.67B | 56.03B |
Cash Flow | ||||||
| Free Cash Flow | -15.39B | -21.29B | 4.22B | 10.74B | 7.53B | 11.97B |
| Operating Cash Flow | -13.43B | -11.73B | 7.42B | 13.59B | 11.00B | 14.16B |
| Investing Cash Flow | -2.47B | -8.24B | -585.50M | -3.19B | -1.92B | -660.40M |
| Financing Cash Flow | 8.13B | 16.51B | -2.47B | -7.71B | -8.93B | -12.75B |
NCC Limited Technical Analysis
Positive
161.45
Price Trends
154.62
Negative
150.80
Positive
170.36
Negative
Market Momentum
-2.11
Negative
53.26
Neutral
56.58
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NCC, the sentiment is Positive. The current price of 161.45 is above the 20-day moving average (MA) of 148.44, above the 50-day MA of 154.62, and below the 200-day MA of 170.36, indicating a neutral trend. The MACD of -2.11 indicates Negative momentum. The RSI at 53.26 is Neutral, neither overbought nor oversold. The STOCH value of 56.58 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NCC.
NCC Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹82.78B | 9.49 | ― | 1.20% | 13.58% | -11.01% | |
66 Neutral | ₹5.57T | 35.67 | ― | 0.84% | 11.79% | 15.95% | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
51 Neutral | ₹95.15B | 14.20 | ― | 1.37% | -6.20% | -17.64% | |
51 Neutral | ₹127.25B | 21.73 | ― | 1.56% | -15.69% | -18.10% | |
50 Neutral | ₹119.92B | 47.42 | ― | 0.65% | -4.78% | -50.23% | |
48 Neutral | ₹61.22B | 31.48 | ― | ― | -29.16% | 44.18% |
* Basic Materials Sector Average
IN:NCC
NCC Limited
152.70
-70.72
-31.65%
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23.86
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IN:IRCON
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IN:LT
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4,171.45
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16.26%
NCC Limited Corporate Events
NCC bags Rs. 1,837 crore in new May orders across key divisions
May 31, 2026
NCC Limited has secured new orders worth Rs. 1,837.01 crore in May 2026, reinforcing its order book across core business segments and underlining sustained demand for its infrastructure services. The majority of the orders, amounting to Rs. 1,289....
NCC Limited Confirms SEBI Compliance on Share Dematerialisation for Q4 FY26
Apr 4, 2026
NCC Limited has informed the stock exchanges that it has received a compliance certificate from its registrar and transfer agent, KFin Technologies Limited, under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for t...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.