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

North Eastern Carrying Corp. Ltd.

(NSE:NECCLTD)

Select Model

Rating:56Neutral

Price Target:INR 16.50▲(2.93% Upside)

Action:reiterated

Date:09/12/26

The overall score is heavily suppressed by severe fundamental weaknesses, specifically chronic negative cash flows and declining top-line revenues that create substantial liquidity risks. Valuation also acts as a headwind, appearing stretched given the P/E ratio of 23.58 and the absence of a dividend yield. However, the final score is partially supported by very strong technical momentum, with the stock trading firmly above all major moving averages.

Positive Factors

Improving Balance SheetLower leverage and a stronger equity base improve financial resilience and provide greater flexibility for fleet investment, working capital, and other business needs. This balance-sheet progress should help the company absorb operating volatility and reduce dependence on external funding over the next several quarters.

Negative Factors

Persistent Negative Cash FlowConsistently negative operating and free cash flow indicates that reported profits are not translating into internally generated funding. This weakens earnings quality, increases reliance on financing or asset management, and could constrain investment capacity if the cash deficit persists.

North Eastern Carrying Corp. Ltd. (NECCLTD) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 1.68B
Dividend Yield: ―
Average Volume (3M): 12.65K
Price to Earnings (P/E): 19.4
Beta (1Y): 1.65
Revenue Growth: 3.58%
EPS Growth: 11.43%
Country: India
Employees: 436
Sector: General
Sector Strength: 55
Industry: Trucking

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 com...

North Eastern Carrying Corp. Ltd. Financial Statement Overview

Summary

Financial performance is heavily weighed down by six consecutive years of negative operating and free cash flows, presenting major liquidity risks. This overshadows recent improvements in the balance sheet, such as a healthier debt-to-equity ratio of 0.55.

Income Statement

50Neutral

Balance Sheet

65Positive

Cash Flow

15Very Negative

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	3.20B	3.08B	3.29B	3.35B	3.06B	2.50B
Gross Profit	297.77M	278.44M	375.54M	391.24M	341.17M	270.82M
EBITDA	198.96M	232.25M	226.76M	216.63M	202.74M	155.15M
Net Income	83.19M	77.51M	102.53M	80.22M	57.71M	42.58M
Balance Sheet
Total Assets	3.72B	3.72B	3.45B	3.17B	2.43B	2.18B
Cash, Cash Equivalents and Short-Term Investments	91.51M	95.79M	155.04M	212.47M	81.45M	76.65M
Total Debt	1.16B	1.24B	1.06B	1.03B	1.19B	1.01B
Total Liabilities	1.34B	1.45B	1.26B	1.23B	1.39B	1.19B
Stockholders Equity	2.38B	2.27B	2.19B	1.94B	1.05B	989.36M
Cash Flow
Free Cash Flow	-67.37M	-242.78M	-258.79M	-490.68M	-180.12M	-133.33M
Operating Cash Flow	2.54M	-90.08M	-212.38M	-462.10M	-144.11M	-102.09M
Investing Cash Flow	-47.83M	-157.78M	-18.26M	-60.02M	-31.89M	-24.26M
Financing Cash Flow	7.15M	188.60M	173.22M	653.14M	180.82M	147.69M

North Eastern Carrying Corp. Ltd. Technical Analysis

Technical Analysis SentimentNegative

Last Price16.03

Price Trends

50DMA18.18Negative

100DMA17.04Negative

200DMA16.01Positive

Market Momentum

MACD-0.55Positive

RSI29.44Positive

STOCH14.53Positive

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 16.03 is below the 20-day moving average (MA) of 18.42, below the 50-day MA of 18.18, and above the 200-day MA of 16.01, indicating a neutral trend. The MACD of -0.55 indicates Positive momentum. The RSI at 29.44 is Positive, neither overbought nor oversold. The STOCH value of 14.53 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

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:NECCLTD against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:PATINTLOG	65Neutral	INR 792.69M	8.07	―	1.60%	16.11%	28.77%
IN:VRLLOG	64Neutral	INR 45.47B	17.02	―	3.85%	5.59%	21.76%
IN:NECCLTD	56Neutral	INR 1.68B	19.36	―	―	3.58%	11.43%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:AVG	55Neutral	INR 2.94B	8.91	―	0.76%	2.03%	26.42%
IN:LANCER	50Neutral	INR 3.72B	18.22	―	―	-33.61%	―
IN:RITCO	44Neutral	INR 7.58B	24.43	―	―	16.89%	-27.40%

* General Sector Average

Performance Comparison

IN:NECCLTD and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:NECCLTD	North Eastern Carrying Corp. Ltd.	16.03	-5.42	-25.27%
IN:AVG	AVG Logistics Ltd.	157.05	-50.65	-24.39%
IN:LANCER	Lancer Container Lines Ltd	10.01	-6.47	-39.26%
IN:PATINTLOG	Patel Integrated Logistics Ltd.	12.35	-1.53	-10.99%
IN:RITCO	Ritco Logistics Ltd.	264.70	7.70	3.00%
IN:VRLLOG	VRL Logistics Ltd.	259.95	-16.97	-6.13%

North Eastern Carrying Corp. Ltd. Corporate Events

North Eastern Carrying Corp Completes AGM Notice Dispatch and E-Voting Setup

Aug 18, 2026

North Eastern Carrying Corporation Limited has notified exchanges that it has completed dispatch of the notice for its 41st Annual General Meeting, along with the annual report for financial year 2025-26. The communication also confirms that e-voting...

NECC Board Clears Rs 50 Crore Loan Plan and Promoter Warrant Issue

Aug 11, 2026

North Eastern Carrying Corporation Limited’s board has approved plans to raise up to Rs. 50 crore through secured and unsecured loans, including instruments with options to convert debt into convertible securities, subject to shareholder and re...

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.

Date of analysis: Sep 12, 2026

North Eastern Carrying Corp. Ltd. AI Stock Analysis