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North Eastern Carrying Corp. Ltd.
(NECCLTD)
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Rating:60Neutral
Price Target:
₹20.50
▲(30.74% Upside)
Action:Reiterated
Date:09/12/26
The score is primarily held back by persistently negative operating and free cash flow, which weakens earnings quality despite a healthier balance sheet and positive (but thin) profitability. Technicals are a key offset with a strong uptrend and positive momentum, though overbought readings raise short-term risk. Valuation is middling due to a ~23.6 P/E and no dividend yield support.
Positive Factors
Improved balance sheet
Lower leverage and a stronger equity base improve financial resilience and provide more flexibility for operations or investment. This gives the company a better foundation than in prior high-leverage years, although the benefit depends on maintaining disciplined capital allocation.
Negative Factors
Persistent negative cash generation
Negative operating and free cash flow across the reported period indicates that accounting profits are not converting into cash. This weakens earnings quality, limits self-funded growth, and can create continuing dependence on financing or tighter working-capital execution to support operations.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved balance sheet
Lower leverage and a stronger equity base improve financial resilience and provide more flexibility for operations or investment. This gives the company a better foundation than in prior high-leverage years, although the benefit depends on maintaining disciplined capital allocation.
Read all positive factors
North Eastern Carrying Corp. Ltd. (NECCLTD) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.05B
Dividend YieldN/A
Average Volume (3M)14.52K
Price to Earnings (P/E)24.1
Beta (1Y)1.58
Revenue Growth-1.77%
EPS Growth-5.84%
CountryIN
Employees436
SectorGeneral
Sector StrengthN/A
IndustryTrucking
Share Statistics
EPS (TTM)0.81
Shares Outstanding104,500,000
10 Day Avg. Volume17,730
30 Day Avg. Volume14,521
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 | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.15B | 3.08B | 3.29B | 3.35B | 3.06B | 2.50B |
| Gross Profit | 274.97M | 278.44M | 375.54M | 391.24M | 341.17M | 270.82M |
| EBITDA | 203.56M | 232.25M | 226.76M | 216.63M | 202.74M | 155.15M |
| Net Income | 79.82M | 77.51M | 102.53M | 80.22M | 57.71M | 42.58M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 3.72B | 3.45B | 3.17B | 2.43B | 2.18B |
| Cash, Cash Equivalents and Short-Term Investments | 95.79M | 95.79M | 155.04M | 212.47M | 81.45M | 76.65M |
| Total Debt | 0.00 | 1.24B | 1.06B | 1.03B | 1.19B | 1.01B |
| Total Liabilities | -2.27B | 1.45B | 1.26B | 1.23B | 1.39B | 1.19B |
| Stockholders Equity | 2.27B | 2.27B | 2.19B | 1.94B | 1.05B | 989.36M |
Cash Flow | ||||||
| Free Cash Flow | -242.78M | -242.78M | -258.79M | -490.68M | -180.12M | -133.33M |
| Operating Cash Flow | -90.08M | -90.08M | -212.38M | -462.10M | -144.11M | -102.09M |
| Investing Cash Flow | -157.78M | -157.78M | -18.26M | -60.02M | -31.89M | -24.26M |
| Financing Cash Flow | 188.60M | 188.60M | 173.22M | 653.14M | 180.82M | 147.69M |
North Eastern Carrying Corp. Ltd. Technical Analysis
Positive
15.68
Price Trends
16.55
Positive
16.33
Positive
16.05
Positive
Market Momentum
0.87
Positive
62.48
Neutral
61.28
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NECCLTD, the sentiment is Positive. The current price of 15.68 is below the 20-day moving average (MA) of 18.43, below the 50-day MA of 16.55, and below the 200-day MA of 16.05, indicating a bullish trend. The MACD of 0.87 indicates Positive momentum. The RSI at 62.48 is Neutral, neither overbought nor oversold. The STOCH value of 61.28 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:NECCLTD.
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 |
|---|---|---|---|---|---|---|---|
73 Outperform | ₹909.51M | 9.61 | ― | 1.39% | 16.11% | 28.77% | |
68 Neutral | ₹51.06B | 19.11 | ― | 3.43% | 5.59% | 21.76% | |
62 Neutral | ₹3.17B | 9.37 | ― | 0.71% | 2.03% | 26.42% | |
60 Neutral | ₹2.05B | 24.12 | ― | ― | -1.77% | -5.84% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹8.19B | 26.71 | ― | ― | 16.89% | -27.40% | |
47 Neutral | ₹4.36B | 21.42 | ― | 0.01% | -33.61% | ― |
* General Sector Average
IN:NECCLTD
North Eastern Carrying Corp. Ltd.
19.38
-1.88
-8.84%
IN:AVG
AVG Logistics Ltd.
166.75
-50.44
-23.22%
IN:LANCER
Lancer Container Lines Ltd
11.71
-0.66
-5.34%
IN:PATINTLOG
Patel Integrated Logistics Ltd.
14.00
-0.85
-5.73%
IN:RITCO
Ritco Logistics Ltd.
287.15
27.35
10.53%
IN:VRLLOG
VRL Logistics Ltd.
291.65
20.39
7.52%
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-vot...
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...
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.