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NBCC (India) Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹88.71Overvalued by 12.17%vs CMP ₹101.00

P/E (42.3) × ROE (24.8%) × BV (₹10.50) × DY (0.67%)

₹44.74Overvalued by 55.70%vs CMP ₹101.00
MoS: -125.7% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹113.1923%Under (+12.1%)
Graham NumberEarnings₹23.3117%Over (-76.9%)
Earnings PowerEarnings₹10.7711%Over (-89.3%)
DCFCash Flow₹56.6111%Over (-44%)
Net Asset ValueAssets₹9.387%Over (-90.7%)
EV/EBITDAEnterprise₹19.359%Over (-80.8%)
Earnings YieldEarnings₹23.007%Over (-77.2%)
ROCE CapitalReturns₹10.307%Over (-89.8%)
Revenue MultipleRevenue₹32.476%Over (-67.9%)
Consensus (9 models)₹44.74100%Overvalued
Key Drivers: EPS CAGR 27.6% lifts DCF — verify sustainability. | Wide model spread (₹9–₹113) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 27.6%

*Investments are subject to market risks

Analyst Summary

NBCC (India) Ltd operates in the Construction, Contracting & Engineering segment, NSE: NBCC | BSE: 534309, current market price is ₹101.00, market cap is 27,140 Cr.. At a glance, stock P/E is 42.3, ROE is 24.8 %, ROCE is 32.2 %, book value is 10.5, dividend yield is 0.67 %. The latest intrinsic value estimate is ₹44.74, around 55.7% below the current price, so expectations may already be running ahead of this modelled fair value. On operating trend, latest reported sales are about ₹8,725 Cr versus the prior period change of 8.7%, while latest net profit is about ₹476 Cr with a prior-period change of 38.4%. The 52-week range shown on this page is 126/77.2, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisNBCC (India) Ltd. is a Public Limited Listed company incorporated on 15/11/1960 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL19…

This summary is generated from the stock page data available for NBCC (India) Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

76
NBCC (India) Ltd scores 76/100 (Strong)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health88/100 · Strong
ROCE 32.2% ExcellentROE 24.8% ExcellentD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money75/100 · Strong
FII holding up 1.00% (6mo) Slight increaseDII holding up 3.32% MF buyingPromoter holding at 61.8% Stable
Earnings Quality60/100 · Moderate
OPM stable around 6% SteadyWorking capital: -81 days (improving) Efficient
Quarterly Momentum80/100 · Strong
Revenue (4Q): +6% YoY GrowingProfit (4Q): +40% YoY Strong
Industry Rank75/100 · Strong
P/E 42.3 vs industry 47.4 In-lineROCE 32.2% vs industry 18.0% Above peersROE 24.8% vs industry 10.7% Above peers3Y sales CAGR: 16% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: June 12, 2026, 7:11 am

Market Cap 27,140 Cr.
Current Price 101
Intrinsic Value₹44.74
High / Low 126/77.2
Stock P/E42.3
Book Value 10.5
Dividend Yield0.67 %
ROCE32.2 %
ROE24.8 %
Face Value 1.00
PEG Ratio1.53

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for NBCC (India) Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
NBCC (India) Ltd 27,140 Cr. 101 126/77.242.3 10.50.67 %32.2 %24.8 % 1.00
ITD Cementation India Ltd 13,472 Cr. 784 944/46832.9 1070.25 %27.6 %21.8 % 1.00
NCC Ltd 9,106 Cr. 145 237/13013.0 1251.52 %16.8 %9.20 % 2.00
Rail Vikas Nigam Ltd 46,327 Cr. 222 414/22253.0 47.10.77 %10.8 %9.02 % 10.0
Welspun Enterprises Ltd 7,618 Cr. 550 581/39119.4 2200.55 %16.8 %14.1 % 10.0
Industry Average3,428.65 Cr158.8747.40127.250.19%18.00%10.70%21.58

All Competitor Stocks of NBCC (India) Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,5872,2271,4781,6221,9193,0081,6271,8522,0303,2181,6552,0972,088
Expenses 1,5082,1371,4301,5331,8162,8061,5491,7741,9152,9761,5582,0111,975
Operating Profit 7890488910220278781152419786112
OPM % 5%4%3%5%5%7%5%4%6%8%6%4%5%
Other Income -840371524-58397857-5358127145
Interest 0000000000000
Depreciation 0100011112222
Profit before tax 6913085103126143116156171186153211255
Tax % 30%26%25%17%25%28%25%21%25%26%26%18%23%
Net Profit 499663859410287124129137114173197
EPS in Rs 0.180.360.230.320.350.380.320.460.480.510.420.640.73

Last Updated: March 3, 2026, 5:46 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 4:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 4,0404,3965,8126,2795,9057,2455,2104,9475,5476,7368,0278,7259,058
Expenses 3,8154,1085,5045,8755,5046,8695,1944,8615,3886,4317,5838,2108,521
Operating Profit 2252883094044013761787159305444516537
OPM % 6%7%5%6%7%5%0%2%3%5%6%6%6%
Other Income 13314710189106187235173881518122277
Interest 2441322281285350
Depreciation 1223333222249
Profit before tax 334391404488503558241244237312456630806
Tax % 26%29%29%28%34%31%67%17%23%26%25%24%
Net Profit 24727728735133438480202183231344476620
EPS in Rs 0.921.031.061.301.241.420.300.750.680.861.281.762.30
Dividend Payout % 24%24%42%42%45%30%30%42%49%42%33%38%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)12.15%3.61%22.30%-4.84%14.97%-79.17%152.50%-9.41%26.23%48.92%38.37%
Change in YoY Net Profit Growth (%)0.00%-8.54%18.69%-27.14%19.81%-94.14%231.67%-161.91%35.64%22.69%-10.55%

NBCC (India) Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:7%
5 Years:11%
3 Years:16%
TTM:7%
Compounded Profit Growth
10 Years:7%
5 Years:47%
3 Years:28%
TTM:16%
Stock Price CAGR
10 Years:9%
5 Years:41%
3 Years:64%
1 Year:-16%
Return on Equity
10 Years:19%
5 Years:19%
3 Years:22%
Last Year:24%

Last Updated: September 5, 2025, 11:35 am

Balance Sheet

Last Updated: January 7, 2026, 4:08 pm

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 120120120180180180180180180180180270270
Reserves 1,0071,2041,4051,4941,6411,3851,3441,5121,5951,7351,9592,0582,251
Borrowings 00126000000000
Other Liabilities 3,0643,4203,8984,8435,8296,7406,2656,6676,7616,3206,3327,3766,754
Total Liabilities 4,1914,7445,4356,5237,6508,3057,7898,3588,5368,2348,4729,7039,275
Fixed Assets 2326626564746058576568410407
CWIP 00000000018014
Investments 11415223110559359344334332332586576520
Other Assets 4,0554,5665,1426,3537,5287,8727,3857,9668,1477,8377,8098,7178,334
Total Assets 4,1914,7445,4356,5237,6508,3057,7898,3588,5368,2348,4729,7039,275

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + -1541684392121205186270-1483671,045-251
Cash from Investing Activity + -5-30145174153319245-44-229-48672503
Cash from Financing Activity + -70-85-208-184-127-131-31-90-88-97-258-184
Net Cash Flow -22953376203146239299135-466-21785968
Free Cash Flow -1611444262111167685269-155326734-280
CFO/OP -37%79%128%80%67%477%116%177%-46%85%204%-33%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow225.00288.00297.00398.00401.00376.0017.0087.00159.00305.00444.00516.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 119141115127140106961211068510093
Inventory Days
Days Payable
Cash Conversion Cycle 119141115127140106961211068510093
Working Capital Days -206-0-11-9-38-139-153-146-107-51-81
ROCE %34%35%28%30%29%33%16%16%20%26%31%32%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 61.75%61.75%61.75%61.75%61.75%61.75%61.75%61.75%61.75%61.75%61.75%61.75%
FIIs 3.43%3.84%4.14%4.46%4.33%4.43%4.11%4.15%4.20%4.99%5.34%5.20%
DIIs 10.61%10.33%10.21%10.41%9.94%9.47%9.10%8.94%8.93%11.23%10.97%12.25%
Public 24.21%24.09%23.89%23.37%23.98%24.35%25.03%25.15%25.13%22.02%21.95%20.81%
No. of Shareholders 5,28,2985,09,8795,56,0806,42,05313,19,44612,84,15115,24,80216,02,80716,09,62613,91,78213,54,13512,76,534

Shareholding Pattern Chart

No. of Shareholders

NBCC (India) Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
Quant Small Cap Fund 49,004,963 1.77 484.4642,954,5432025-12-15 02:18:5314.09%
Tata Arbitrage Fund 8,118,500 0.39 80.269,262,5002026-02-22 17:18:30-12.35%
Helios Flexi Cap Fund 6,544,834 1.09 64.7N/AN/AN/A
Quant Flexi Cap Fund 3,002,684 0.48 29.68N/AN/AN/A
UTI Arbitrage Fund 2,437,500 0.22 24.12,418,0002026-02-23 07:21:210.81%
Quant Infrastructure Fund 2,203,127 0.78 21.78N/AN/AN/A
HDFC Large and Mid Cap Fund 1,932,000 0.07 19.1N/AN/AN/A
Kotak Equity Savings Fund 1,644,500 0.17 16.26N/AN/AN/A
Quant Value Fund 1,116,846 0.71 11.04N/AN/AN/A
Mirae Asset Arbitrage Fund 890,500 0.24 8.8643,5002025-12-15 01:57:0638.38%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 1.001.001.001.001.00
Basic EPS (Rs.) 2.002.231.481.251.23
Diluted EPS (Rs.) 2.002.231.481.251.23
Cash EPS (Rs.) 3.122.551.821.451.49
Book Value[Excl.RevalReserv]/Share (Rs.) 9.1812.3611.8010.779.98
Book Value[Incl.RevalReserv]/Share (Rs.) 9.1812.3611.8010.779.98
Revenue From Operations / Share (Rs.) 44.5957.9648.6442.7337.96
PBDIT / Share (Rs.) 3.184.153.042.211.66
PBIT / Share (Rs.) 3.154.123.012.191.63
PBT / Share (Rs.) 2.803.102.062.151.60
Net Profit / Share (Rs.) 2.062.301.541.321.31
NP After MI And SOA / Share (Rs.) 2.002.231.481.251.23
PBDIT Margin (%) 7.137.166.255.174.38
PBIT Margin (%) 7.067.116.195.114.30
PBT Margin (%) 6.275.354.235.044.20
Net Profit Margin (%) 4.633.973.163.093.46
NP After MI And SOA Margin (%) 4.493.843.042.913.24
Return on Networth / Equity (%) 21.8218.0413.7112.6813.54
Return on Capital Employeed (%) 29.9627.5721.1216.5113.18
Return On Assets (%) 3.963.142.071.661.68
Asset Turnover Ratio (%) 0.910.810.660.570.47
Current Ratio (X) 1.171.171.041.051.02
Quick Ratio (X) 1.081.050.900.900.86
Inventory Turnover Ratio (X) 11.067.990.000.000.00
Dividend Payout Ratio (NP) (%) 47.4024.2033.7537.7110.95
Dividend Payout Ratio (CP) (%) 31.1021.8028.3034.119.61
Earning Retention Ratio (%) 52.6075.8066.2562.2989.05
Cash Earning Retention Ratio (%) 68.9078.2071.7065.8990.39
Interest Coverage Ratio (X) 13937.0614740.65371.0070.0845.22
Interest Coverage Ratio (Post Tax) (X) 10608.6511792.54303.8155.7536.70
Enterprise Value (Cr.) 16586.6316424.741631.611057.532844.98
EV / Net Operating Revenue (X) 1.381.570.180.130.41
EV / EBITDA (X) 19.3221.982.982.669.50
MarketCap / Net Operating Revenue (X) 1.842.050.720.841.23
Retention Ratios (%) 52.5975.7966.2462.2889.04
Price / BV (X) 8.929.633.283.705.12
Price / Net Operating Revenue (X) 1.842.050.720.841.23
EarningsYield 0.020.010.040.030.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

NBCC (India) Ltd. is a Public Limited Listed company incorporated on 15/11/1960 and has its registered office in the State of Delhi, India. Company's Corporate Identification Number(CIN) is L74899DL1960GOI003335 and registration number is 003335. Currently Company is involved in the business activities of Architectural and engineering activities and related technical consultancy. Company's Total Operating Revenue is Rs. 9755.31 Cr. and Equity Capital is Rs. 270.00 Cr. for the Year ended 31/03/2026.
INDUSTRYADDRESSCONTACT
Construction, Contracting & EngineeringNBCC Bhawan, New Delhi Delhi 110003Contact not found
Management
NamePosition Held
Mr. K P MahadevaswamyChairman & Managing Director
Mr. Anjeev Kumar JainDirector - Finance & CFO
Dr. Sumar KumarDirector - Commercial
Mr. Saleem AhmadDirector - Projects
Prof. Bhimrao Panda BhosaleIndependent Director
Mr. Deepak SinghIndependent Director
Mr. Vishal PuriIndependent Director
Mr. Rajeev KumarIndependent Director
Mr. SanjeetGovernment Nominee Director
Mr. Ravi Kumar AroraGovernment Nominee Director

FAQ

What is the intrinsic value of NBCC (India) Ltd and is it undervalued?

As of 13 June 2026, NBCC (India) Ltd's intrinsic value is ₹44.74, which is 55.70% lower than the current market price of ₹101.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (24.8 %), book value (₹10.5), dividend yield (0.67 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of NBCC (India) Ltd?

NBCC (India) Ltd is trading at ₹101.00 as of 13 June 2026, with a FY2026-2027 high of ₹126 and low of ₹77.2. The stock is currently in the middle of its 52-week range. Market cap stands at ₹27,140 Cr..

How does NBCC (India) Ltd's P/E ratio compare to its industry?

NBCC (India) Ltd has a P/E ratio of 42.3, which is below the industry average of 47.40. This is broadly in line with or below the industry average.

Is NBCC (India) Ltd financially healthy?

Key indicators for NBCC (India) Ltd: ROCE of 32.2 % indicates efficient capital utilization; ROE of 24.8 % shows strong shareholder returns. Dividend yield is 0.67 %.

Is NBCC (India) Ltd profitable and how is the profit trend?

NBCC (India) Ltd reported a net profit of ₹476 Cr in Mar 2025 on revenue of ₹8,725 Cr. Compared to ₹183 Cr in Mar 2022, the net profit shows an improving trend.

Does NBCC (India) Ltd pay dividends?

NBCC (India) Ltd has a dividend yield of 0.67 % at the current price of ₹101.00. The company pays dividends, though the yield is modest.

Last Updated: June 12, 2026, 7:11 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 534309 | NSE: NBCC
Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in NBCC (India) Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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