NCC Limited (NCC) AI Stock Analysis

• Market Cap: ₹129.18B
• Dividend Yield: 1.28%
• Average Volume (3M): 144.16K
• Price to Earnings (P/E): 16.1
• Beta (1Y): 1.74
• Revenue Growth: -5.66%
• EPS Growth: -4.66%
• Country: IN
• Employees: 6,586
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Engineering & Construction
• EPS (TTM): 1.60
• Shares Outstanding: 627,846,560
• 10 Day Avg. Volume: 128,816
• 30 Day Avg. Volume: 144,160
• PEG Ratio: 1.06
• Price to Book (P/B): 1.83
• Price to Sales (P/S): 0.60
• P/FCF Ratio: 31.72
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹235.00
• Price Target Upside: 37.07% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 64 Neutral
• Price Target: ₹201.00 ▲(17.24% Upside)

NCC Limited's strong financial performance is the most significant factor, supported by consistent revenue growth and solid cash flow. However, bearish technical indicators and a reasonable valuation suggest caution. The lack of recent earnings call data or corporate events limits additional insights.

Positive Factors

Revenue Growth

The significant revenue growth over the years indicates strong market demand and effective project execution, enhancing long-term business sustainability.

Cash Flow Generation

Strong cash flow generation supports reinvestment in the business and reduces financial risk, ensuring long-term operational stability.

Profit Margin Improvement

Improving profit margins reflect efficient cost management and strategic project selection, contributing to sustainable financial performance.

Negative Factors

Debt Levels

High debt levels can strain financial flexibility, potentially impacting the company's ability to invest in growth opportunities or weather economic downturns.

EBIT Margin Volatility

Volatile EBIT margins may indicate challenges in controlling operating costs, which can affect profitability and financial predictability.

Capital Expenditure Fluctuations

Inconsistent capital expenditures can lead to unpredictable cash flow needs, potentially affecting the company's ability to fund ongoing and future projects.

NCC Limited Business Overview & Revenue Model

Company Description

NCC Limited (NCC) is a leading technology services provider in the United Kingdom, specializing in software development, IT consultancy, and digital transformation solutions. The company operates primarily in sectors such as telecommunications, government, and financial services, offering a comprehensive range of services that include cybersecurity, cloud services, and application development. NCC is dedicated to delivering innovative technology solutions that enhance operational efficiency and drive digital growth for its clients.

How the Company Makes Money

NCC generates revenue through multiple streams, primarily by providing IT services and solutions to a diverse client base. The company earns money from consulting services, where it advises organizations on technology implementation and strategic initiatives. A significant portion of its revenue comes from project-based work, where NCC undertakes contracts for software development and system integration. Additionally, NCC offers managed services and cybersecurity solutions, which provide recurring revenue as clients pay for ongoing support and protection of their IT infrastructure. The company also partners with technology vendors and collaborates with government agencies, which further strengthens its market position and contributes to its earnings through strategic contracts and long-term projects.

NCC Limited Financial Statement Overview

Summary

NCC Limited exhibits strong financial health with consistent revenue and profit growth, stable margins, and a solid balance sheet. The company has a healthy debt-to-equity ratio and robust operating cash flows. However, significant debt levels pose potential risks if interest rates rise or cash flows decrease.

Income Statement

NCC Limited has demonstrated a solid growth trajectory in revenue, with a notable increase from ₹78,708.3 Cr in 2021 to ₹221,993.6 Cr in 2025. The gross profit margin has improved over the years, reflecting efficient cost management. However, the EBIT margin has shown some volatility, primarily due to fluctuations in operating expenses. The consistent growth in net profit margin signifies enhanced profitability, supported by a strategic focus on high-margin projects.

Balance Sheet

The company's balance sheet reflects a stable financial position with a healthy debt-to-equity ratio over the years. The equity ratio has improved, indicating a strong asset base funded by equity. However, the presence of significant debt levels poses potential risks if interest rates rise or cash flows decrease. The return on equity has generally trended positively, suggesting effective utilization of shareholders' investments.

Cash Flow

NCC Limited has shown robust operating cash flows, consistently exceeding net income, which is a positive sign of financial health. The free cash flow growth has been substantial, supporting reinvestment in the business and reducing financial risk. However, fluctuations in capital expenditures and investing cash flows could impact future liquidity.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	218.50B	221.99B	208.45B	155.53B	111.38B	79.49B
Gross Profit	33.87B	33.86B	29.95B	25.46B	18.99B	16.19B
EBITDA	18.92B	19.15B	17.69B	14.59B	10.28B	9.19B
Net Income	8.02B	8.20B	7.11B	6.09B	4.82B	2.68B
Balance Sheet
Total Assets	0.00	210.06B	180.97B	165.50B	144.58B	135.40B
Cash, Cash Equivalents and Short-Term Investments	10.16B	10.08B	6.28B	3.29B	3.00B	3.46B
Total Debt	0.00	15.94B	9.80B	9.74B	13.02B	20.62B
Total Liabilities	-75.02B	135.04B	112.86B	100.65B	85.62B	80.70B
Stockholders Equity	75.02B	73.24B	66.40B	61.67B	56.03B	51.71B
Cash Flow
Free Cash Flow	0.00	4.22B	10.74B	7.53B	11.97B	6.32B
Operating Cash Flow	0.00	7.42B	13.59B	11.00B	14.16B	8.24B
Investing Cash Flow	0.00	-585.50M	-3.19B	-1.92B	-660.40M	-1.89B
Financing Cash Flow	0.00	-2.47B	-7.71B	-8.93B	-12.75B	-5.58B

NCC Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 171.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NCC, the sentiment is Negative. The current price of 171.45 is below the 20-day moving average (MA) of 186.20, below the 50-day MA of 200.52, and below the 200-day MA of 209.84, indicating a bearish trend. The MACD of -8.78 indicates Positive momentum. The RSI at 23.36 is Positive, neither overbought nor oversold. The STOCH value of 17.46 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NCC.

NCC Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SANDUMA	69 Neutral	₹106.82B	21.70	―	0.20%	196.22%	71.39%
ITDCEM	69 Neutral	₹132.63B	29.77	―	0.24%	9.20%	30.96%
JINDALSAW	68 Neutral	₹109.00B	7.91	―	1.20%	-13.69%	-30.57%
NCC	64 Neutral	₹129.18B	16.11	―	1.28%	-5.66%	-4.66%
PARADEEP	62 Neutral	₹137.31B	17.09	―	0.63%	64.80%	151.92%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%
NUVOCO	55 Neutral	₹124.67B	45.54	―	―	5.09%	458.10%

NCC Limited Corporate Events

NCC Limited Releases Conference Call Audio on Financial Results

NCC Limited announced the availability of an audio recording from a recent conference call with analysts, discussing the company’s unaudited financial results for the quarter and half-year ending September 30, 2025. This release is part of the company’s compliance with regulatory requirements and aims to maintain transparency with stakeholders by providing insights into its financial performance.

NCC Limited Reports Stable Financial Performance for September 2025

NCC Limited’s Board of Directors approved the un-audited financial results for the quarter and half-year ending September 30, 2025. The results indicate a stable financial performance, with both standalone and consolidated figures being reviewed and recommended by the Audit Committee. This announcement reflects NCC Limited’s ongoing commitment to transparency and compliance with regulatory requirements, potentially impacting its market positioning positively.

NCC Limited Secures Rs. 788.34 Crore Orders for Water Division

NCC Limited has announced the receipt of two significant orders in August 2025, totaling Rs. 788.34 Crore, for its Water Division. These orders, awarded by State Government agencies, are part of the company’s regular business operations and do not involve any related party transactions, indicating a robust demand for NCC’s expertise in water infrastructure projects.