Want to see IN:NECCLTD full AI Analyst Report?
Top Page
North Eastern Carrying Corp. Ltd.
(NECCLTD)
Select Model
Select Model
Rating:57Neutral
Price Target:
₹15.50
▼(-1.15% Downside)
Action:Reiterated
Date:06/12/26
The score is held back primarily by consistently negative operating and free cash flow despite positive earnings, which weakens earnings quality and raises funding risk. Improving leverage and equity provide stability, while technicals are supportive but show overbought signals. Valuation appears neutral given current profitability and cash-generation challenges.
Positive Factors
Improving leverage & stronger equity
Debt-to-equity near 0.55 and materially stronger equity since 2023 provide durable financial flexibility. Lower leverage reduces refinancing and liquidity stress, enabling the company to fund working capital and fleet needs more conservatively over the next several quarters.
Negative Factors
Persistent negative operating cash flow
Consistently negative operating and free cash flow (-90.1M OCF; -242.8M FCF in 2026) is a structural weakness: earnings do not convert to cash, forcing reliance on external funding and raising execution risk for fleet investment, working capital and long-term sustainability.
Read all positive and negative factors
Positive Factors
Negative Factors
Improving leverage & stronger equity
Debt-to-equity near 0.55 and materially stronger equity since 2023 provide durable financial flexibility. Lower leverage reduces refinancing and liquidity stress, enabling the company to fund working capital and fleet needs more conservatively over the next several quarters.
Read all positive factors
North Eastern Carrying Corp. Ltd. (NECCLTD) vs. iShares MSCI India ETF (INDA)
Market Cap
₹1.59B
Dividend YieldN/A
Average Volume (3M)9.46K
Price to Earnings (P/E)19.1
Beta (1Y)1.64
Revenue Growth-6.29%
EPS Growth-24.76%
CountryIN
Employees478
SectorGeneral
Sector StrengthN/A
IndustryTrucking
Share Statistics
EPS (TTM)0.80
Shares Outstanding104,500,000
10 Day Avg. Volume6,384
30 Day Avg. Volume9,462
Financial Highlights & Ratios
PEG Ratio-0.57
Price to Book (P/B)0.47
Price to Sales (P/S)0.35
P/FCF Ratio-4.41
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)N/A
Revenue Forecast (FY)N/A
North Eastern Carrying Corp. Ltd. Business Overview & Revenue Model
Company Description
Established in 1984 and headquartered in Delhi, India, North Eastern Carrying Corporation Limited (NECCL) delivers an extensive array of transportation and logistics solutions. Its operational reach spans India, Nepal, Bhutan, and Bangladesh. The ...
How the Company Makes Money
NECCLTD makes money primarily by charging customers for transporting goods via road freight. Its core revenue stream is freight income earned on shipments executed using its trucking operations (whether through company-operated vehicles or contrac...
North Eastern Carrying Corp. Ltd. Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
73
Positive
Cash Flow
28
Negative
| Breakdown | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 3.08B | 3.29B | 3.35B | 3.06B | 2.50B |
| Gross Profit | 278.44M | 375.54M | 391.24M | 341.17M | 270.82M |
| EBITDA | 232.25M | 226.76M | 216.63M | 202.74M | 155.15M |
| Net Income | 77.51M | 102.53M | 80.22M | 57.71M | 42.58M |
Balance Sheet | |||||
| Total Assets | 3.72B | 3.45B | 3.17B | 2.43B | 2.18B |
| Cash, Cash Equivalents and Short-Term Investments | 95.79M | 155.04M | 212.47M | 81.45M | 76.65M |
| Total Debt | 1.24B | 1.06B | 1.03B | 1.19B | 1.01B |
| Total Liabilities | 1.45B | 1.26B | 1.23B | 1.39B | 1.19B |
| Stockholders Equity | 2.27B | 2.19B | 1.94B | 1.05B | 989.36M |
Cash Flow | |||||
| Free Cash Flow | -242.78M | -258.79M | -490.68M | -180.12M | -133.33M |
| Operating Cash Flow | -90.08M | -212.38M | -462.10M | -144.11M | -102.09M |
| Investing Cash Flow | -157.78M | -18.26M | -60.02M | -31.89M | -24.26M |
| Financing Cash Flow | 188.60M | 173.22M | 653.14M | 180.82M | 147.69M |
North Eastern Carrying Corp. Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | ₹1.01B | 9.67 | ― | 2.13% | 16.11% | 28.87% | |
62 Neutral | ₹3.81B | 11.79 | ― | 0.66% | 1.07% | 16.19% | |
61 Neutral | ₹49.21B | 18.34 | ― | 4.11% | 5.59% | 21.76% | |
60 Neutral | ₹8.61B | 24.54 | ― | ― | 26.02% | -19.14% | |
57 Neutral | ₹1.59B | 19.15 | ― | ― | -6.29% | -24.76% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
47 Neutral | ₹3.77B | 48.41 | ― | ― | -43.40% | ― |
* General Sector Average
IN:NECCLTD
North Eastern Carrying Corp. Ltd.
15.24
-7.10
-31.78%
IN:AVG
AVG Logistics Ltd.
203.60
-28.23
-12.18%
IN:LANCER
Lancer Container Lines Ltd
10.66
-3.09
-22.47%
IN:PATINTLOG
Patel Integrated Logistics Ltd.
14.50
-0.10
-0.68%
IN:RITCO
Ritco Logistics Ltd.
300.65
11.80
4.09%
IN:VRLLOG
VRL Logistics Ltd.
281.30
0.13
0.05%
North Eastern Carrying Corp. Ltd. Corporate Events
NECC Converts Promoter Loans Into Equity via Preferential Allotment
Jun 6, 2026
North Eastern Carrying Corporation Limited has approved the allotment of 4.5 million new equity shares with a face value of Rs. 10 each at an issue price of Rs. 15.18 per share to promoter Sunil Kumar Jain. The preferential allotment, totaling abo...
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.