NCC Ltd.
NSE: NCCNCC Ltd.: A 30-second snapshot
NCC Ltd, an NSE-listed infrastructure and construction company, trades at 160.68 — 32.98% below its 52-week high and 26.29% lower year-on-year, with the stock sitting below its 200-DMA of 176.66. The company reported 675 Cr FY26 profit with Q4 net profit declining 19% YoY; D/E stands at 43.1 on a rising trend against a 3.22% profit margin.
P/E
13.9
Forward P/E
10.0
ROE
+9.3%
Debt / Equity
43.06
Profit Margin
+3.2%
Div. Yield
+1.4%
5Y ROE > 15%
0/5
5Y FCF > 0
4/5
Quality
45/100
News
8 headlines · 4 positive · 2 negative
NCC Ltd Reports ₹675 Cr FY26 Profit, Declares 110% Dividend - Whalesbook
Whalesbook
NCC Q4 net profit falls 19% as margins ease, revenue up 2%; declares ₹2.20 dividend - CNBC TV18
CNBC TV18
NCC bags ₹1,703-cr orders in April across buildings, electrical, transportation divisions - CNBC TV18
CNBC TV18
NCC Ltd Wins ₹1,703 Cr in New Orders, Boosting Outlook - Whalesbook
Whalesbook
Five workers killed, several injured after crane collapses at NCC central workshop in Shankarpally - The Hindu
The Hindu
Recent context
- ·Q4 FY26 results (May 15, 2026): net profit fell 19% YoY as margins eased; full-year FY26 profit stood at 675 Cr; a 2.20 per share dividend (110%) was declared alongside the results.
- ·A fatal crane collapse at NCC central workshop in Shankarpally (April 27, 2026) killed five workers — an operational safety incident that may draw regulatory scrutiny and affect project execution timelines.
- ·NCC secured 1703 Cr in new orders in April 2026 across buildings, electrical, and transportation segments, indicating continued order book momentum entering FY27.
Strengths
- +Lowest PE among six Infrastructure peers at 13.9x, with forward PE of 10.0x — a significant valuation discount relative to LT (33.4x), BEL (51.9x), ABB (86.8x), CGPOWER (108.5x), and CUMMINSIND (66.5x).
- +FCF was positive in 4 of the available years, indicating the business has generated cash in most periods despite thin margins.
- +New order inflow of 1703 Cr in April 2026 across buildings, electrical, and transportation divisions signals continued revenue pipeline visibility.
- +Dividend declared at 110% (2.20 per share) for FY26, with a dividend yield of 1.37%, demonstrating cash return to shareholders even in a margin-pressured year.
Weaknesses
- −D/E of 43.1 with a rising debt trend against a profit margin of 3.22% leaves limited earnings headroom to service leverage; zero years of ROE above 15% in the persistence record confirms capital returns have not compensated for this balance sheet structure.
- −5-year earnings growth of -18.8% reflects sustained earnings erosion; Q4 FY26 net profit fell 19% YoY with margins described as easing, continuing the multi-year deterioration pattern.
- −Quality score of 24 ranks NCC 5th of 6 in its Infrastructure peer group; ROE of 9.32% is below peers with available data — LT at 16.95% and CGPOWER at 19.56%.
- −Price is 32.98% off the 52-week high, down 26.29% over 12 months, and below the 200-DMA (176.66) for an extended period; immediate resistance cluster begins at 161.98–166.50, within 1–4% of current price.
Open questions
- ?Does the 1703 Cr monthly order inflow represent an acceleration from prior quarters, and is the total order book large enough to support a revenue and margin inflection that would justify the forward PE of 10x?
- ?How has NCC managed its D/E trajectory over the past five years — is the rising debt trend funding growth capex or plugging working capital gaps in a thin-margin construction business?
- ?What is the nature of the margin compression in Q4 FY26: is it concentrated in a specific segment (buildings vs. electrical vs. transportation), and does the product mix of new orders suggest a reversal?
- ?Does the fatal workshop incident at Shankarpally expose NCC to regulatory penalties, project suspension risk, or reputational consequences with government or institutional clients?
Peer comparison: Infrastructure
Ranks 5 of 6 on quality| Symbol | Name | P/E | ROE | Quality |
|---|---|---|---|---|
| NCC | NCC Ltd.You're viewing | 13.9 | +9.3% | 24 |
| Industry avg | across 5 peers | 69.4 | +18.3% | 40 |
| BEL | Bharat Electronics Ltd. | 51.9 | — | 57 |
| ABB | ABB India Ltd. | 86.8 | — | 47 |
| CGPOWER | CG Power and Industrial Solutions Ltd. | 108.5 | +19.6% | 45 |
| LT | Larsen & Toubro Ltd. | 33.4 | +16.9% | 26 |
| CUMMINSIND | Cummins India Ltd. | 66.5 | — | 24 |
Technical state
Current price
₹160.68
SMA 50
₹152.48
SMA 200
₹176.66
RSI (14)
50.2 (neutral)
From 52w high
-33.0%
1Y return
-26.3%
3M return
+3.1%
50-DMA
Above
200-DMA
Below
Algorithmic support levels
Algorithmic resistance levels
Risk flags
- high5-year earnings growth of -18.8% alongside a D/E of 43.1 (rising trend) and a profit margin of 3.22% creates a compressing-margin, rising-leverage combination that narrows the buffer against earnings shocks.
- highROE of 9.32% with zero years above 15% in the persistence record and quality score of 24 — ranked 5th of 6 peers in the Infrastructure sector — points to structurally below-average returns on capital.
- mediumPrice is 32.98% below its 52-week high and down 26.29% over 12 months; stock has traded below the 200-DMA (176.66) with current price at 160.68, remaining in a long-term downtrend despite a 3.13% 3-month recovery.
- mediumFatal crane collapse at NCC central workshop in Shankarpally (five workers killed, April 2026) introduces operational safety and reputational risk; Q4 net profit declined 19% YoY with margin compression noted by CNBC TV18.
Cross-section contradictions
- 5-year earnings growth of -18.8% and quality score ranked 5th of 6 peers, yet NCC trades at PE of 13.9 — the lowest among sector peers (LT 33.4x, ABB 86.8x, BEL 51.9x, CGPOWER 108.5x). The PE discount may already reflect the deterioration, or the market may be pricing forward PE of 10.0 on an earnings recovery not yet visible in the 5-year trend.
- News sentiment is net positive (4 positive vs 2 negative across 8 articles, including 1703 Cr new orders in April), yet the stock is down 26.29% over 12 months — order inflow momentum has not translated into price recovery.
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.
Fundamentals & technicals: refreshed 25 Jun 2026 · refreshed daily at 01:00 IST
AI synthesis (narrative, snapshot, strengths/weaknesses, peer ranking): generated 17 May 2026 · rotates through NIFTY 500 every ~5 days