Noida Toll Bridge Co. Ltd. (NOIDATOLL) AI Stock Analysis

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Noida Toll Bridge Co. Ltd.

(NSE:NOIDATOLL)

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Rating:50Neutral

Price Target:INR 3.50▼(-6.67% Downside)

Action:reiterated

Date:09/09/26

The score is held back primarily by financial risk from negative equity and prior multi-year losses despite the strong 2026 rebound and cash flow. Technical signals are weak (below major moving averages with negative MACD), while valuation is a notable positive due to the very low P/E. Earnings call impact is neutral due to missing qualitative details.

Positive Factors

2026 Earnings TurnaroundThe return to positive operating profit and a 63% net margin marks a substantial improvement in current earnings power. If the turnaround persists, stronger profitability could support reinvestment and improve the company’s ability to fund its urban transport operations internally over the next several quarters.

Negative Factors

Negative EquityNegative equity materially weakens balance-sheet resilience and leaves less protection for lenders and other stakeholders. It also makes conventional debt-to-equity measures less meaningful, while limiting financial flexibility to absorb setbacks or support future investment without additional funding.

Noida Toll Bridge Co. Ltd. (NOIDATOLL) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 675.89M
Dividend Yield: ―
Average Volume (3M): 21.96K
Price to Earnings (P/E): 2.5
Beta (1Y): 1.18
Revenue Growth: 7.80%
EPS Growth: ―
Country: India
Employees: 3
Sector: General
Sector Strength: 55
Industry: Industrial - Infrastructure Operations

Noida Toll Bridge Co. Ltd. Business Overview & Revenue Model

Company Description

Noida Toll Bridge Company Limited oversees the entire lifecycle of the Delhi Noida toll bridge in India, from its initial development and construction to its ongoing operation and maintenance. This undertaking is managed through a Build-Own-Operate-T...

Noida Toll Bridge Co. Ltd. Financial Statement Overview

Summary

Despite a sharp 2026 turnaround (revenue +5.2%, positive operating profit, very high net margin) and strong 2026 cash generation (operating cash flow ~504M; free cash flow ~490M), multi-year losses before 2026 and, most importantly, negative equity in 2025–2026 materially weaken financial resilience and earnings durability.

Income Statement

55Neutral

Balance Sheet

28Negative

Cash Flow

62Positive

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	437.35M	428.70M	402.40M	208.36M	237.24M	161.37M
Gross Profit	244.61M	173.17M	402.40M	-299.53M	-337.89M	-369.50M
EBITDA	278.21M	280.13M	-2.17B	68.89M	61.09M	-3.15M
Net Income	283.32M	271.91M	-2.44B	-317.30M	-352.02M	-413.04M
Balance Sheet
Total Assets	0	1.07B	818.17M	3.48B	3.82B	4.03B
Cash, Cash Equivalents and Short-Term Investments	854.17M	854.17M	344.97M	405.10M	405.38M	137.97M
Total Debt	0	429.06M	429.06M	667.08M	667.08M	667.08M
Total Liabilities	125.00M	1.19B	1.22B	1.43B	1.46B	1.32B
Stockholders Equity	-125.00M	-125.98M	-397.93M	2.04B	2.36B	2.71B
Cash Flow
Free Cash Flow	0	490.21M	150.00M	-42.38M	237.34M	13.62M
Operating Cash Flow	0	504.42M	151.23M	-39.43M	238.49M	25.22M
Investing Cash Flow	0	-516.67M	93.52M	30.90M	-237.27M	-16.36M
Financing Cash Flow	0	0	-238.05M	-79.00K	-236.00K	-258.00K

Noida Toll Bridge Co. Ltd. Technical Analysis

Technical Analysis SentimentNeutral

Last Price3.75

Price Trends

50DMA3.83Negative

100DMA4.15Negative

200DMA4.13Negative

Market Momentum

MACD-0.03Negative

RSI51.42Neutral

STOCH55.70Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NOIDATOLL, the sentiment is Neutral. The current price of 3.75 is above the 20-day moving average (MA) of 3.64, below the 50-day MA of 3.83, and below the 200-day MA of 4.13, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 51.42 is Neutral, neither overbought nor oversold. The STOCH value of 55.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:NOIDATOLL.

Noida Toll Bridge Co. Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:NOIDATOLL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:IRB	62Neutral	INR 226.46B	21.13	―	0.97%	-10.33%	-79.19%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:NOIDATOLL	50Neutral	INR 685.20M	2.46	―	―	7.80%	―
IN:GAYAHWS	45Neutral	INR 448.15M	-20.55	―	―	439.66%	-100.16%
IN:ARSSINFRA	44Neutral	INR 1.25B	-0.04	―	―	104.34%	98.27%
IN:BRNL	39Underperform	INR 1.24B	-0.69	―	―	-28.52%	-179.94%

* General Sector Average

Performance Comparison

IN:NOIDATOLL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:NOIDATOLL	Noida Toll Bridge Co. Ltd.	3.75	-0.70	-15.73%
IN:ARSSINFRA	ARSS Infrastructure Projects Limited	54.84	0.00	0.00%
IN:BRNL	Bharat Road Network Ltd.	14.90	-10.40	-41.11%
IN:GAYAHWS	Gayatri Highways Ltd.	1.85	-2.08	-52.93%
IN:IL&FSTRANS	IL&FS Transportation Networks Limited	1.70	-1.22	-41.78%
IN:IRB	IRB Infrastructure Developers Limited	19.07	-2.16	-10.16%

Noida Toll Bridge Co. Ltd. Corporate Events

Noida Toll Bridge Co. Sets Virtual Date for 30th AGM, Publishes Regulatory Notices

Aug 29, 2026

Noida Toll Bridge Company Limited has announced that its 30th Annual General Meeting will be held on September 21, 2026, at 12:00 p.m. IST through video conferencing and other audio-visual means, in line with applicable provisions of the Companies Ac...

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 09, 2026

Noida Toll Bridge Co. Ltd. AI Stock Analysis