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Noida Toll Bridge Co. Ltd.
(NOIDATOLL)
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Rating:50Neutral
Price Target:
₹4.00
▼(-13.04% 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 turnaround
The return to positive operating profitability and a very high reported net margin materially improves near-term earnings capacity. If this performance is sustained, it could support reinvestment and strengthen the company’s ability to fund infrastructure operations from internal resources.
Negative Factors
Negative equity and weak capital structure
Negative equity is a major balance-sheet weakness because it reduces the capital cushion available to absorb losses or operational setbacks. Even with stable debt, this structure limits financial resilience and makes future funding, refinancing, and capital allocation more difficult.
Read all positive and negative factors
Positive Factors
Negative Factors
2026 earnings turnaround
The return to positive operating profitability and a very high reported net margin materially improves near-term earnings capacity. If this performance is sustained, it could support reinvestment and strengthen the company’s ability to fund infrastructure operations from internal resources.
Read all positive factors
Noida Toll Bridge Co. Ltd. (NOIDATOLL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹737.33M
Dividend Yield13.51%
Average Volume (3M)18.45K
Price to Earnings (P/E)2.6
Beta (1Y)1.08
Revenue Growth7.31%
EPS GrowthN/A
CountryIN
Employees3
SectorGeneral
Sector StrengthN/A
IndustryIndustrial - Infrastructure Operations
Share Statistics
EPS (TTM)1.51
Shares Outstanding186,195,000
10 Day Avg. Volume18,042
30 Day Avg. Volume18,453
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)-4.32
Price to Sales (P/S)1.27
P/FCF Ratio1.11
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
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-Operat...
How the Company Makes Money
The company’s earnings have historically been driven primarily by (1) toll/usage-based collections from users of the road/bridge corridor it operated under a concession framework and (2) income related to operating and maintaining the infrastructu...
Noida Toll Bridge Co. Ltd. Financial Statement Overview
Summary
Income Statement
55
Neutral
Balance Sheet
28
Negative
Cash Flow
62
Positive
| 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 | 0.00 | 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 | 0.00 | 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 | 0.00 | 490.21M | 150.00M | -42.38M | 237.34M | 13.62M |
| Operating Cash Flow | 0.00 | 504.42M | 151.23M | -39.43M | 238.49M | 25.22M |
| Investing Cash Flow | 0.00 | -516.67M | 93.52M | 30.90M | -237.27M | -16.36M |
| Financing Cash Flow | 0.00 | 0.00 | -238.05M | -79.00K | -236.00K | -258.00K |
Noida Toll Bridge Co. Ltd. Technical Analysis
Negative
4.60
Price Trends
4.33
Negative
4.55
Negative
4.24
Negative
Market Momentum
-0.08
Positive
37.42
Neutral
36.40
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NOIDATOLL, the sentiment is Negative. The current price of 4.6 is above the 20-day moving average (MA) of 4.11, above the 50-day MA of 4.33, and above the 200-day MA of 4.24, indicating a bearish trend. The MACD of -0.08 indicates Positive momentum. The RSI at 37.42 is Neutral, neither overbought nor oversold. The STOCH value of 36.40 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:NOIDATOLL.
Noida Toll Bridge Co. Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹237.21B | 24.70 | ― | 0.87% | -14.25% | -80.89% | |
50 Neutral | ₹737.33M | 2.62 | ― | 13.51% | 7.31% | ― | |
43 Neutral | ₹457.74M | -21.33 | ― | ― | 439.66% | -100.16% | |
42 Neutral | ₹1.40B | -0.77 | ― | 0.82% | -28.52% | -179.94% | |
39 Underperform | ₹1.25B | -0.04 | ― | 0.27% | 45.58% | -2546.82% |
* General Sector Average
IN:NOIDATOLL
Noida Toll Bridge Co. Ltd.
3.96
-0.23
-5.49%
IN:ARSSINFRA
ARSS Infrastructure Projects Limited
54.84
0.00
0.00%
IN:BRNL
Bharat Road Network Ltd.
16.71
-5.97
-26.32%
IN:GAYAHWS
Gayatri Highways Ltd.
1.91
-0.44
-18.72%
IN:IL&FSTRANS
IL&FS Transportation Networks Limited
2.01
-1.20
-37.38%
IN:IRB
IRB Infrastructure Developers Limited
19.64
-1.82
-8.47%
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...
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.