North Eastern Carrying Corp. Ltd. (NECCLTD) AI Stock Analysis

• Market Cap: ₹1.49B
• Dividend Yield: N/A
• Average Volume (3M): 9.46K
• Price to Earnings (P/E): 20.4
• Beta (1Y): 1.64
• Revenue Growth: -8.31%
• EPS Growth: -40.98%
• Country: IN
• Employees: 478
• Sector: Industrials
• Sector Strength: 72
• Industry: Trucking
• EPS (TTM): 0.18
• Shares Outstanding: 99,946,365
• 10 Day Avg. Volume: 6,384
• 30 Day Avg. Volume: 9,462
• PEG Ratio: 1.03
• Price to Book (P/B): 1.10
• Price to Sales (P/S): 0.73
• P/FCF Ratio: -9.27
• 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: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: ₹15.00 ▼(-17.22% Downside)

The score is held back primarily by weak financial performance driven by negative operating/free cash flow and only modest profitability, alongside bearish technical signals (price below key moving averages and negative MACD). Valuation is roughly neutral with a mid-range P/E and no dividend yield provided.

Positive Factors

Improving operating margins

Improved gross, EBIT and EBITDA margins signal better cost control and operational efficiency. Sustained margin improvement enhances earnings resilience against revenue swings, supports internal funding for capex or debt service, and bolsters medium‑term cash generation.

Strong equity ratio / manageable leverage

A strong equity ratio and manageable debt-to-equity indicate a stable capital structure that cushions shocks. This equity funding preserves borrowing capacity, supports liquidity during cash shortfalls, and provides flexibility for medium‑term investments or working capital needs.

Diverse revenue streams and long-term contracts

Multiple service lines (transport, warehousing, supply chain) and long-term contracts create recurring revenue and reduce client churn risk. Exposure to retail, manufacturing and e-commerce ties demand to structural growth, improving revenue predictability over the medium term.

Negative Factors

Negative operating and free cash flow

Persistent negative operating and free cash flows mean the business is not self-financing and must rely on external funding. This constrains capex and working capital flexibility, raises refinancing risk, and weakens resilience to shocks over the next several quarters.

Declining revenue trend

A recent revenue decline reduces operating leverage and can reverse margin gains if fixed costs remain. Continued top-line weakness will hinder profitability improvements, limit reinvestment capacity, and may force strategic cost cuts that impair service and growth over the medium term.

High absolute total debt levels

High total debt, even with a manageable D/E ratio, raises interest and refinancing burdens. Combined with negative cash flow, this elevates liquidity and refinancing risk, limits financial flexibility for growth initiatives, and increases vulnerability to rate or demand shocks.

North Eastern Carrying Corp. Ltd. Business Overview & Revenue Model

Company Description

North Eastern Carrying Corporation Limited provides transportation and logistics services in India, Nepal, Bhutan, and Bangladesh. The company small parcels, as well as full truck load, project, and over dimensional consignments. It also offers containerized movement of cargo, packing and moving, warehousing, and third party logistics and storage facilities. The company operates through a network of approximately 250 branches. North Eastern Carrying Corporation Limited was incorporated in 1984 and is based in Delhi, India.

How the Company Makes Money

NECCLTD generates revenue through multiple streams, primarily by charging clients for transportation services based on distance, type of cargo, and additional services such as packaging and warehousing. The company also earns money from long-term contracts with businesses that require regular freight services, providing a stable income source. Additionally, NECCLTD may benefit from partnerships with other logistics providers and e-commerce platforms, expanding its reach and enhancing service offerings, which can lead to increased sales. Seasonal demand fluctuations and economic growth in the regions served also play a significant role in driving revenue.

North Eastern Carrying Corp. Ltd. Financial Statement Overview

Summary

Mixed fundamentals: operating metrics (gross/EBIT/EBITDA margins) show improvement, but revenue has declined and profitability remains modest. Cash flow is the key weakness with negative operating and free cash flow, offset partially by a relatively solid equity base and manageable leverage metrics.

Income Statement

The company has shown fluctuations in revenue, with a decline in the latest period. Gross profit margin has improved from previous years, indicating better cost management. Net profit margin remains modest, reflecting limited profitability. EBIT and EBITDA margins show a positive trend, highlighting operational improvements.

Balance Sheet

Debt-to-equity ratio is manageable, though the company has high total debt levels. Return on Equity has shown improvement, suggesting better profitability relative to equity. Equity ratio is strong, indicating a solid financial position with a good proportion of assets funded by equity.

Cash Flow

The company faces challenges with negative operating cash flow, which is a concern for liquidity. Free cash flow has also been negative, indicating cash flow constraints. However, the company has been able to manage financing activities effectively to support operations.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	3.20B	3.29B	3.35B	3.06B	2.50B	2.31B
Gross Profit	338.55M	375.54M	391.24M	341.17M	270.82M	200.14M
EBITDA	201.71M	226.76M	216.63M	202.74M	155.15M	115.28M
Net Income	83.58M	102.53M	80.22M	57.71M	42.58M	14.30M
Balance Sheet
Total Assets	0.00	3.45B	3.17B	2.43B	2.18B	1.96B
Cash, Cash Equivalents and Short-Term Investments	155.04M	155.04M	212.47M	81.45M	76.65M	55.30M
Total Debt	0.00	1.06B	1.03B	1.19B	1.01B	861.68M
Total Liabilities	-2.19B	1.26B	1.23B	1.39B	1.19B	1.02B
Stockholders Equity	2.19B	2.19B	1.94B	1.05B	989.36M	947.20M
Cash Flow
Free Cash Flow	0.00	-258.79M	-490.68M	-180.12M	-133.33M	-106.99M
Operating Cash Flow	0.00	-212.38M	-462.10M	-144.11M	-102.09M	-105.09M
Investing Cash Flow	0.00	-18.26M	-60.02M	-31.89M	-24.26M	3.97M
Financing Cash Flow	0.00	173.22M	653.14M	180.82M	147.69M	100.49M

North Eastern Carrying Corp. Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 18.12
• 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:NECCLTD, the sentiment is Negative. The current price of 18.12 is above the 20-day moving average (MA) of 16.71, below the 50-day MA of 18.18, and below the 200-day MA of 21.40, indicating a bearish trend. The MACD of -0.97 indicates Positive momentum. The RSI at 28.89 is Positive, neither overbought nor oversold. The STOCH value of 12.49 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NECCLTD.

North Eastern Carrying Corp. Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	63 Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
MAGNUM	59 Neutral	₹1.50B	-45.51	―	―	13.74%	-118.80%
NECCLTD	47 Neutral	₹1.49B	20.44	―	―	-8.31%	-40.98%
PBAINFRA	47 Neutral	₹151.61M	9.32	―	―	―	―
IL&FSENGG	40 Underperform	₹2.94B	-170.96	―	―	-6.13%	98.35%
SICALLOG	39 Underperform	₹5.91B	-396.45	―	―	76.34%	94.50%

North Eastern Carrying Corp. Ltd. Corporate Events

North Eastern Carrying Corporation Fined for Non-Compliance by NSE

North Eastern Carrying Corporation Limited has been fined Rs. 540,000 plus GST by the National Stock Exchange (NSE) for non-compliance with Schedule XIX related to the listing of securities. Despite the fine, the company states there is no material impact on its financial or operational activities and is currently assessing the situation to respond appropriately.

North Eastern Carrying Corp. Faces Fine for SEBI Non-Compliance

North Eastern Carrying Corporation Limited has been fined Rs. 5,40,000 plus GST by BSE Limited for non-compliance with a SEBI Master Circular dated June 21, 2023. The company stated that this fine does not have a material impact on its financial or operational activities and is currently evaluating the fine to determine the necessary response.

North Eastern Carrying Corporation Submits AGM Minutes

North Eastern Carrying Corporation Limited has submitted the certified minutes of its 40th Annual General Meeting held on September 26, 2025. This submission is in compliance with SEBI regulations and is intended for record-keeping purposes, demonstrating the company’s adherence to corporate governance standards.