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Informist, Wednesday, Feb. 4, 2026

 

By Durgesh Nandan

 

MUMBAI – NCC Ltd. is expected to report a double-digit on-year fall in its bottom line for the December quarter due to an increase in depreciation costs and a delay in execution of projects, said brokerages tracking the company. Sequentially, however, the net profit is likely to rise sharply.

 

The company is expected to post a net profit of INR 1.42 billion for the reporting quarter, down over 23% on year, but up over 41% from the trailing quarter, according to the average of estimates from four brokerages. The highest estimate for the company's bottom line is INR 1.83 billion from JM Financial Institutional Securities Pvt. Ltd. and the lowest is INR 900 million from HDFC Securities Ltd. 

 

NCC's net sales for the latest quarter are expected to be INR 44.58 billion, down nearly 5% on year, but up almost 20% on quarter, according to the average of estimates. The highest estimate for the company's top line is INR 48.11 billion from JM Financial, while the lowest estimate is INR 38.20 billion from HDFC Securities.

 

The expected year-on-year decline in the revenue is mainly due to a prolonged monsoon, delays in obtaining work orders for new projects, and a slowdown in jobs related to Jal Jeevan Mission, SMIFS said in a pre-earnings report.

 

The company's earnings before interest, tax, depreciation, and amortisation are expected to be INR 3.58 billion for the reporting quarter, according to the average of estimates. The highest estimate for the company's EBITDA is INR 4.09 billion from JM Financial and the lowest estimate is INR 2.90 billion from HDFC Securities.

 

The company has secured new orders worth INR 213 billion so far this financial year. Of these, orders worth INR 113.66 billion were obtained in December quarter.

 

Of the seven brokerages reports on the company available with Informist, six have a 'buy' or equivalent recommendation on the stock with an average target price of INR 245 per share. This is nearly 58% higher than the current market price. Only one has a 'sell' or equivalent recommendation on the stock with a target price of INR 200 per share.

 

Shares of the company are down almost 21% since its September quarter results were announced. Wednesday, shares of the company closed at INR 155.15, up over 1%, on the National Stock Exchange. The company will announce its earnings for the December quarter Thursday.

 

Following are the Oct-Dec earnings estimates for NCC Ltd. from four brokerages in descending order of the estimate of net profit in INR billion:

 

Brokerages	Net Sales	Net Profit	EBITDA
JM Financial Institutional Securities Pvt Ltd.	48.11	1.83	4.09
SMIFS Ltd.	45.71	16.70	3.89
Elara Securities (India) Pvt Ltd	46.32	1.32	3.45
HDFC Securities Ltd	38.20	0.90	2.90
Average	44.58	1.42	3.58

 

End

 

Edited by Tanima Banerjee

 

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