NCC Limited (NCC) AI Stock Analysis

• Market Cap: ₹127.17B
• Dividend Yield: 1.09%
• Average Volume (3M): 140.10K
• Price to Earnings (P/E): 15.9
• Beta (1Y): 1.79
• Revenue Growth: -0.65%
• EPS Growth: 7.37%
• Country: IN
• Employees: 6,586
• Sector: Basic Materials
• Sector Strength: 58
• Industry: Engineering & Construction
• EPS (TTM): 3.00
• Shares Outstanding: 627,846,560
• 10 Day Avg. Volume: 192,163
• 30 Day Avg. Volume: 140,105
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• 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: ₹248.00
• Price Target Upside: 22.44% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 73 Outperform
• Price Target: ₹248.00 ▲(22.44% Upside)

NCC Limited's strong financial performance is the most significant factor, supported by consistent revenue and profit growth. The technical analysis indicates a bearish trend, while the valuation suggests the stock is reasonably priced. The absence of earnings call and corporate events data limits the analysis to these factors.

NCC Limited Business Overview & Revenue Model

Company Description

NCC Limited engages in the construction business in India and internationally. The company constructs industrial and commercial buildings, housing projects, IT parks, shopping malls, sports complexes, and hospitals, as well as stadia; and roads, highways, flyovers, bridges, etc. It also undertakes design, engineering, erection, testing, and commissioning of transmission lines and sub-stations, as well as project electrification and various utility distribution projects; and railway projects, which include freight corridors, railway sidings, and port connectivity projects. In addition, the company constructs water supply projects, water treatment plants, distribution networks, pumping stations, river intake works, electromechanical works, underground drainage networks, lift irrigation schemes, sewage pumping stations and treatment plants, and summer storage tanks; and dams and reservoirs, canals, tunnels, and hydroelectric power projects, as well as barrages, spillways, and aqueducts. Further, it engages in the engineering, procurement, and construction of power and metal projects; and provision of mine developer-cum-operator services, as well as removal of overburden and extraction of coal/lignite/other minerals from open cast mines. The company was formerly known as Nagarjuna Construction Company Limited and changed its name to NCC Limited in March 2011. NCC Limited was founded in 1978 and is based in Hyderabad, India.

How the Company Makes Money

NCC Limited generates revenue through its construction and engineering operations by undertaking large-scale infrastructure projects, often secured through government and private sector contracts. The company earns money by executing these projects within stipulated budgets and timelines, which includes the construction of public infrastructures such as highways, bridges, and urban facilities. Additionally, NCC diversifies its revenue streams through real estate development and by participating in joint ventures and partnerships that expand its operational scope and market reach. The company's strategic focus on public-private partnerships and its ability to deliver complex projects efficiently also contribute significantly to its earnings.

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. Despite potential risks from debt levels, strong cash flow generation and an improving equity position mitigate these concerns.

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 2023	Dec 2022	Dec 2022	Dec 2020
Income Statement
Total Revenue	221.99B	221.99B	208.45B	110.67B	155.53B	88.66B
Gross Profit	31.23B	31.23B	29.95B	16.63B	23.36B	18.17B
EBITDA	20.26B	19.18B	17.69B	12.98B	15.92B	10.11B
Net Income	8.20B	8.20B	7.11B	4.82B	6.09B	3.37B
Balance Sheet
Total Assets	210.06B	210.06B	180.97B	144.58B	165.50B	138.12B
Cash, Cash Equivalents and Short-Term Investments	15.86B	15.86B	6.28B	3.00B	10.91B	2.79B
Total Debt	15.94B	15.94B	9.80B	13.02B	9.74B	21.81B
Total Liabilities	135.04B	135.04B	112.86B	85.62B	100.65B	86.53B
Stockholders Equity	73.24B	73.24B	66.40B	56.03B	61.67B	49.06B
Cash Flow
Free Cash Flow	0.00	4.22B	10.74B	11.97B	7.53B	7.81B
Operating Cash Flow	0.00	7.42B	13.59B	14.16B	11.00B	9.31B
Investing Cash Flow	0.00	-585.50M	-3.74B	-660.40M	-1.92B	105.50M
Financing Cash Flow	0.00	-2.47B	-7.71B	-12.75B	-8.93B	-10.47B

NCC Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 202.55
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• 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 202.55 is below the 20-day moving average (MA) of 210.37, below the 50-day MA of 215.36, and below the 200-day MA of 224.08, indicating a bearish trend. The MACD of -1.21 indicates Positive momentum. The RSI at 38.41 is Neutral, neither overbought nor oversold. The STOCH value of 12.59 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
JINDALSAW	77 Outperform	132.03B	7.64	15.23%	0.97%	-7.04%	-7.16%
NCC	73 Outperform	₹127.17B	15.85	―	1.09%	-0.65%	7.37%
SANDUMA	73 Outperform	78.55B	15.96	18.00%	0.26%	146.02%	43.05%
PARADEEP	68 Neutral	148.94B	18.54	13.53%	0.55%	39.44%	256.03%
ITDCEM	65 Neutral	137.50B	33.55	20.33%	0.25%	11.99%	27.39%
NUVOCO	55 Neutral	150.01B	98.58	0.24%	―	0.27%	12.09%
Sector *	61 Neutral	$10.43B	7.12	-0.05%	2.87%	2.86%	-36.73%

NCC Limited Corporate Events

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.