NCC

NCC Limited

Infrastructure EPC contractor for buildings, transportation, water, power and mining projects

Industrials›Construction›Construction›Civil Construction

ncclimited.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹125.66
Market cap
7,882 Cr
Stock P/E
11.3
P/B
1.00
Dividend yield
1.8%
ROE (FY26)
8.4%
ROCE (FY26)
14.8%
Operating margin (FY26)
7.7%
Debt / equity (FY26)
0.44
OCF / EBITDA (FY26)
-25.0%
OCF / EBITDA (3Y)
29.7%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

NCC is a Hyderabad-based infrastructure construction company that builds buildings, transportation, water, irrigation, electrical transmission and distribution, and mining projects, mainly on contract.

Company snapshot

14thBy market cap

Ranked among 90 companies in Civil Construction.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 98.6% of revenue

SegmentRevenue shareRevenuePBTAssets
Construction
98.6%
15,842 Cr861 Cr—
Others
0.0%
2 Cr-6 Cr—
Real Estate
1.4%
224 Cr35 Cr—

What we see

Concerns
  • ✗Only 30% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales4,720 Cr5,260 Cr6,485 Cr5,528 Cr5,196 Cr5,345 Cr6,131 Cr5,179 Cr4,543 Cr4,868 Cr6,233 Cr5,812 Cr
Operating expenses (approx.)4,416 Cr4,755 Cr5,934 Cr5,050 Cr4,753 Cr4,904 Cr5,575 Cr4,723 Cr4,150 Cr4,432 Cr5,682 Cr5,267 Cr
EBITDA304 Cr505 Cr551 Cr478 Cr443 Cr441 Cr556 Cr456 Cr393 Cr436 Cr550 Cr545 Cr
OPM %6.4%9.6%8.5%8.6%8.5%8.2%9.1%8.8%8.7%9.0%8.8%9.4%
Other income27 Cr28 Cr45 Cr30 Cr28 Cr38 Cr58 Cr29 Cr42 Cr32 Cr18 Cr31 Cr
Interest153 Cr156 Cr153 Cr155 Cr167 Cr166 Cr193 Cr164 Cr172 Cr196 Cr213 Cr198 Cr
Depreciation53 Cr53 Cr52 Cr54 Cr55 Cr54 Cr54 Cr55 Cr57 Cr59 Cr65 Cr69 Cr
Profit before tax125 Cr325 Cr358 Cr300 Cr250 Cr270 Cr367 Cr268 Cr209 Cr182 Cr294 Cr312 Cr
Tax %31.0%29.0%33.3%25.8%30.2%23.8%27.8%23.7%19.8%25.5%26.2%26.5%
Net profit86 Cr231 Cr239 Cr223 Cr175 Cr206 Cr265 Cr205 Cr167 Cr135 Cr217 Cr229 Cr
EPS (₹)₹1.23₹3.51₹3.81₹3.34₹2.60₹3.08₹4.04₹3.06₹2.46₹1.95₹3.28₹3.45

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales9,001 Cr8,391 Cr12,896 Cr8,901 Cr7,949 Cr11,138 Cr15,553 Cr20,845 Cr22,199 Cr20,823 CrSign in free for the trailing twelve months
Operating expenses (approx.)8,331 Cr7,511 Cr11,296 Cr7,814 Cr7,030 Cr10,114 Cr14,094 Cr19,076 Cr20,281 Cr18,987 CrSign in free for the trailing twelve months
EBITDA670 Cr879 Cr1,599 Cr1,087 Cr919 Cr1,024 Cr1,459 Cr1,769 Cr1,918 Cr1,836 CrSign in free for the trailing twelve months
OPM %7.4%10.5%12.4%12.2%11.6%9.2%9.4%8.5%8.6%8.8%Sign in free for the trailing twelve months
Other income204 Cr101 Cr124 Cr113 Cr116 Cr71 Cr148 Cr126 Cr156 Cr121 CrSign in free for the trailing twelve months
Interest513 Cr460 Cr522 Cr554 Cr480 Cr478 Cr515 Cr595 Cr680 Cr745 CrSign in free for the trailing twelve months
Depreciation203 Cr172 Cr193 Cr199 Cr181 Cr187 Cr203 Cr212 Cr216 Cr235 CrSign in free for the trailing twelve months
Profit before tax46 Cr219 Cr894 Cr387 Cr363 Cr635 Cr885 Cr1,061 Cr1,187 Cr952 CrSign in free for the trailing twelve months
Tax %81.9%36.6%36.5%18.8%21.9%22.2%27.0%30.2%26.9%24.0%Sign in free for the trailing twelve months
Net profit8 Cr139 Cr568 Cr314 Cr283 Cr494 Cr646 Cr740 Cr868 Cr724 CrSign in free for the trailing twelve months
EPS (₹)₹0.57₹2.99₹9.63₹5.59₹4.40₹7.91₹9.77₹11.32₹13.06₹10.76Sign in free for the trailing twelve months
Dividend payout %————4.3%9.9%19.4%23.3%20.7%19.1%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital111 Cr120 Cr120 Cr122 Cr122 Cr122 Cr126 Cr126 Cr126 Cr126 Cr
Reserves3,336 Cr3,962 Cr4,475 Cr4,784 Cr5,049 Cr5,481 Cr6,041 Cr6,514 Cr7,198 Cr7,743 Cr
Borrowings2,481 Cr1,840 Cr2,362 Cr1,873 Cr1,749 Cr1,302 Cr974 Cr980 Cr1,594 Cr3,457 Cr
Other liabilities4,852 Cr6,186 Cr7,426 Cr6,780 Cr6,321 Cr7,259 Cr9,091 Cr10,305 Cr11,910 Cr14,520 Cr
Total liabilities11,109 Cr12,408 Cr14,660 Cr13,812 Cr13,540 Cr14,458 Cr16,550 Cr18,097 Cr21,006 Cr26,006 Cr
Fixed assets (net)952 Cr1,009 Cr1,291 Cr1,143 Cr1,124 Cr1,138 Cr1,238 Cr1,253 Cr1,348 Cr1,758 Cr
CWIP1 Cr23 Cr13 Cr15 Cr22 Cr7 Cr15 Cr41 Cr37 Cr351 Cr
Investments729 Cr619 Cr733 Cr504 Cr731 Cr649 Cr616 Cr449 Cr428 Cr326 Cr
Loans & advances——80 Cr39 Cr35 Cr217 Cr225 Cr163 Cr184 Cr337 Cr
Inventories2,718 Cr2,830 Cr1,425 Cr1,391 Cr1,222 Cr1,153 Cr1,374 Cr1,764 Cr1,810 Cr2,445 Cr
Trade receivables4,118 Cr4,969 Cr3,429 Cr2,728 Cr2,740 Cr2,545 Cr3,176 Cr3,117 Cr3,355 Cr3,784 Cr
Cash & bank132 Cr76 Cr219 Cr114 Cr192 Cr267 Cr282 Cr552 Cr988 Cr642 Cr
Other assets2,459 Cr2,880 Cr7,469 Cr7,877 Cr7,474 Cr8,482 Cr9,625 Cr10,759 Cr12,856 Cr16,363 Cr
Total assets11,109 Cr12,408 Cr14,660 Cr13,812 Cr13,540 Cr14,458 Cr16,550 Cr18,097 Cr21,006 Cr26,006 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity314 Cr586 Cr673 Cr931 Cr824 Cr1,416 Cr1,100 Cr1,359 Cr742 Cr-459 Cr
Cash from investing376 Cr-188 Cr-619 Cr11 Cr-6 Cr-66 Cr-192 Cr-319 Cr-59 Cr-766 Cr
Cash from financing-818 Cr-453 Cr89 Cr-1,047 Cr-558 Cr-1,275 Cr-893 Cr-771 Cr-247 Cr878 Cr
Net cash flow-129 Cr-56 Cr143 Cr-105 Cr261 Cr75 Cr16 Cr270 Cr436 Cr-346 Cr
Free cash flow (OCF − Capex)162 Cr268 Cr101 Cr781 Cr824 Cr1,201 Cr753 Cr1,074 Cr422 Cr-1,414 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %8.9%10.9%19.6%13.4%11.7%15.5%18.8%21.2%20.5%14.8%
ROE %0.8%3.8%11.9%6.5%5.2%8.4%9.4%10.9%10.9%8.4%
Debtor days167216971121258374555566
Inventory days3023261061671831201038683125
Days payable349413337496574459398329377403
Cash conversion cycle120129-134-217-266-256-220-188-239-212
OCF / EBITDA %46.8%66.6%42.1%85.7%89.7%138.3%75.4%76.9%38.7%-25.0%
OCF / EBITDA % (3 years)——49.9%61.4%67.4%104.7%98.2%91.1%62.2%29.7%
Debt / equity0.720.450.510.380.340.230.160.150.220.44
Current ratio1.341.321.281.331.381.371.341.341.341.36
Net debt / EBITDA3.512.011.341.621.691.010.470.240.321.53