NBCC (India) Ltd: Fundamental Analysis, Share Price Insights & Intrinsic Value (2024)

Share Price and Basic Stock Data

Last Updated: December 21, 2024, 2:07 am

Market Cap	25,496 Cr.
Current Price	94.4
High / Low	140/51.2
Stock P/E	52.2
Book Value	8.28
Dividend Yield	0.44 %
ROCE	30.7 %
ROE	23.0 %
Face Value	1.00
PEG Ratio	4.10

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

Stock P/E Current Price Intrinsic Value

View Share Price Target for

Competitors of

Stock Name	Market Cap	Current Price	High / Low	Stock P/E	Book Value	Dividend Yield	ROCE	ROE	Face Value
IITL Projects Ltd	26.4 Cr.	52.9	78.1/16.0	8.18	70.7	0.00 %	%	%	10.0
HB Estate Developers Ltd	198 Cr.	102	125/44.8	26.6	80.1	0.00 %	7.00 %	2.39 %	10.0
Hazoor Multi Projects Ltd	994 Cr.	49.9	63.9/28.4	11.8	19.5	0.60 %	%	%	1.00
Gyan Developers & Builders Ltd	9.11 Cr.	30.4	33.8/7.07		12.7	0.00 %	4.02 %	3.75 %	10.0
GG Dandekar Properties Ltd	57.2 Cr.	120	163/87.4		96.9	0.00 %	1.27 %	9.45 %	1.00
Industry Average	16,164.50 Cr	306.21		47.59	133.45	0.14%	23.48%	27.83%	21.38

All Competitor Stocks of

Quarterly Result

Month	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Sales	935	1,303	1,509	1,800	1,366	1,556	1,587	2,227	1,478	1,622	1,919	3,032	1,627
Expenses	932	1,268	1,453	1,737	1,317	1,472	1,508	2,137	1,430	1,533	1,816	2,830	1,549
Operating Profit	2	35	56	63	49	84	78	90	48	89	102	202	78
OPM %	0%	3%	4%	4%	4%	5%	5%	4%	3%	5%	5%	7%	5%
Other Income	37	52	40	-40	-64	46	-8	40	37	15	24	-58	39
Interest	1	1	1	1	1	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	1	0	0	0	1	1
Profit before tax	37	85	94	21	-17	130	69	130	85	103	126	143	116
Tax %	27%	23%	26%	1%	-22%	24%	30%	26%	25%	17%	25%	28%	25%
Net Profit	27	66	69	21	-13	99	49	96	63	85	94	102	87
EPS in Rs	0.15	0.36	0.39	0.11	-0.07	0.55	0.27	0.54	0.35	0.47	0.52	0.57	0.48

Last Updated: September 14, 2024, 10:59 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: September 14, 2024, 10:59 am

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	3,229	4,040	4,396	5,812	6,279	5,905	7,245	5,210	4,947	5,547	6,736	8,051	8,200
Expenses	3,035	3,815	4,108	5,504	5,875	5,504	6,869	5,194	4,861	5,388	6,431	7,607	7,729
Operating Profit	194	225	288	309	404	401	376	17	87	159	305	444	471
OPM %	6%	6%	7%	5%	6%	7%	5%	0%	2%	3%	5%	6%	6%
Other Income	110	133	147	101	89	106	187	235	173	88	15	18	19
Interest	1	24	41	3	2	2	2	8	12	8	5	3	0
Depreciation	1	1	2	2	3	3	3	3	2	2	2	2	2
Profit before tax	302	334	391	404	488	503	558	241	244	237	312	456	488
Tax %	31%	26%	29%	29%	28%	34%	31%	67%	17%	23%	26%	25%
Net Profit	208	247	277	287	351	334	384	80	202	183	231	344	368
EPS in Rs	1.15	1.37	1.54	1.59	1.95	1.85	2.13	0.44	1.12	1.02	1.28	1.91	2.04
Dividend Payout %	22%	24%	24%	42%	42%	45%	30%	30%	42%	49%	42%	33%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	18.75%	12.15%	3.61%	22.30%	-4.84%	14.97%	-79.17%	152.50%	-9.41%	26.23%	48.92%
Change in YoY Net Profit Growth (%)	0.00%	-6.60%	-8.54%	18.69%	-27.14%	19.81%	-94.14%	231.67%	-161.91%	35.64%	22.69%

has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	7%
5 Years:	2%
3 Years:	18%
TTM:	22%

Compounded Profit Growth
10 Years:	7%
5 Years:	4%
3 Years:	32%
TTM:	30%

Stock Price CAGR
10 Years:	11%
5 Years:	32%
3 Years:	50%
1 Year:	81%

Return on Equity
10 Years:	18%
5 Years:	15%
3 Years:	19%
Last Year:	23%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 7:59 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	120	120	120	120	180	180	180	180	180	180	180	180	180
Reserves	831	1,007	1,204	1,405	1,494	1,641	1,385	1,344	1,512	1,595	1,735	1,959	2,055
Borrowings	0	0	0	12	6	0	0	0	0	0	0	0	0
Other Liabilities	2,778	3,064	3,420	3,898	4,843	5,829	6,740	6,265	6,667	6,761	6,320	6,330	5,942
Total Liabilities	3,729	4,191	4,744	5,435	6,523	7,650	8,305	7,789	8,358	8,536	8,234	8,469	8,178
Fixed Assets	24	23	26	62	65	64	74	60	58	57	65	68	70
CWIP	0	0	0	0	0	0	0	0	0	0	1	8	9
Investments	162	114	152	231	105	59	359	344	334	332	332	586	557
Other Assets	3,543	4,055	4,566	5,142	6,353	7,528	7,872	7,385	7,966	8,147	7,837	7,807	7,541
Total Assets	3,729	4,191	4,744	5,435	6,523	7,650	8,305	7,789	8,358	8,536	8,234	8,469	8,178

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	90	-439	-154	168	439	212	120	51	86	270	-148	367
Cash from Investing Activity +	99	818	-5	-30	145	174	153	319	245	-44	-229	-486
Cash from Financing Activity +	-49	-53	-70	-85	-208	-184	-127	-131	-31	-90	-88	-97
Net Cash Flow	141	327	-229	53	376	203	146	239	299	135	-466	-217

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	194.00	225.00	288.00	297.00	398.00	401.00	376.00	17.00	87.00	159.00	305.00	444.00

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

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	94	119	141	115	127	140	106	96	121	106	85	100
Inventory Days	1,393
Days Payable	1,807
Cash Conversion Cycle	-320	119	141	115	127	140	106	96	121	106	85	100
Working Capital Days	-86	-20	6	-0	-11	-9	-38	-139	-153	-146	-107	-51
ROCE %	35%	34%	35%	28%	30%	29%	33%	16%	16%	20%	26%	31%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
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	2.86%	3.09%	3.31%	3.43%	3.31%	3.36%	3.43%	3.84%	4.14%	4.46%	4.33%	4.43%
DIIs	10.40%	10.19%	11.08%	10.78%	10.46%	10.90%	10.61%	10.33%	10.21%	10.41%	9.94%	9.47%
Public	24.99%	24.96%	23.86%	24.04%	24.49%	24.00%	24.21%	24.09%	23.89%	23.37%	23.98%	24.35%
No. of Shareholders	5,30,612	5,30,607	5,49,670	5,45,783	5,39,908	5,29,550	5,28,298	5,09,879	5,56,080	6,42,053	13,19,446	12,84,151

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Nippon India CPSE ETF	40,329,076	1.63	751.61	6,824,122	2024-12-20	490.98%
ICICI Prudential Bharat 22 ETF	6,824,122	0.62	127.17	6,824,122	2024-12-20	0%
Mahindra Manulife Small Cap Fund	3,000,000	1.06	55.91	6,824,122	2024-12-20	-56.04%
HDFC Large and Mid Cap Fund - Regular Plan	1,288,000	0.1	23.34	6,824,122	2024-12-20	-81.13%
Aditya Birla Sun Life Bal Bhavishya Yojna	750,000	1.24	13.98	6,824,122	2024-12-20	-89.01%
Mahindra Manulife Flexi Cap Fund	740,000	0.92	13.79	6,824,122	2024-12-20	-89.16%
Nippon India Nifty Smallcap 250 Index Fund	655,240	0.68	12.21	6,824,122	2024-12-20	-90.4%
Motilal Oswal Nifty Smallcap 250 Index Fund	299,160	0.68	5.58	6,824,122	2024-12-20	-95.62%
Motilal Oswal Nifty 500 Index Fund	71,712	0.07	1.34	6,824,122	2024-12-20	-98.95%
ICICI Prudential BSE 500 ETF	10,461	0.07	0.19	6,824,122	2024-12-20	-99.85%

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	1.00	1.00	1.00	1.00	1.00
Basic EPS (Rs.)	2.23	1.48	1.25	1.23	0.43
Diluted EPS (Rs.)	2.23	1.48	1.25	1.23	0.43
Cash EPS (Rs.)	2.55	1.82	1.45	1.49	0.61
Book Value[Excl.RevalReserv]/Share (Rs.)	13.40	11.80	10.77	9.98	8.92
Book Value[Incl.RevalReserv]/Share (Rs.)	13.40	11.80	10.77	9.98	8.92
Revenue From Operations / Share (Rs.)	57.96	48.64	42.73	37.96	44.93
PBDIT / Share (Rs.)	4.15	3.04	2.21	1.66	1.72
PBIT / Share (Rs.)	4.12	3.01	2.19	1.63	1.68
PBT / Share (Rs.)	3.10	2.06	2.15	1.60	1.65
Net Profit / Share (Rs.)	2.30	1.54	1.32	1.31	0.55
NP After MI And SOA / Share (Rs.)	2.23	1.48	1.25	1.23	0.43
PBDIT Margin (%)	7.16	6.25	5.17	4.38	3.82
PBIT Margin (%)	7.11	6.19	5.11	4.30	3.74
PBT Margin (%)	5.35	4.23	5.04	4.20	3.66
Net Profit Margin (%)	3.97	3.16	3.09	3.46	1.22
NP After MI And SOA Margin (%)	3.84	3.04	2.91	3.24	0.96
Return on Networth / Equity (%)	18.04	13.71	12.68	13.54	5.39
Return on Capital Employeed (%)	27.57	21.12	16.51	13.18	14.87
Return On Assets (%)	3.14	2.07	1.66	1.68	0.62
Asset Turnover Ratio (%)	0.81	0.66	0.57	0.47	0.49
Current Ratio (X)	1.17	1.04	1.05	1.02	1.11
Quick Ratio (X)	1.05	0.90	0.90	0.86	0.93
Dividend Payout Ratio (NP) (%)	24.20	33.75	37.71	10.95	177.33
Dividend Payout Ratio (CP) (%)	21.80	28.30	34.11	9.61	153.06
Earning Retention Ratio (%)	75.80	66.25	62.29	89.05	-77.33
Cash Earning Retention Ratio (%)	78.20	71.70	65.89	90.39	-53.06
Interest Coverage Ratio (X)	14740.65	371.00	70.08	45.22	46.28
Interest Coverage Ratio (Post Tax) (X)	11792.54	303.81	55.75	36.70	15.81
Enterprise Value (Cr.)	16424.74	1631.61	1057.53	2844.98	-2107.70
EV / Net Operating Revenue (X)	1.57	0.18	0.13	0.41	-0.26
EV / EBITDA (X)	21.98	2.98	2.66	9.50	-6.81
MarketCap / Net Operating Revenue (X)	2.05	0.72	0.84	1.23	0.36
Retention Ratios (%)	75.79	66.24	62.28	89.04	-77.33
Price / BV (X)	9.63	3.28	3.70	5.12	2.03
Price / Net Operating Revenue (X)	2.05	0.72	0.84	1.23	0.36
EarningsYield	0.01	0.04	0.03	0.02	0.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of as of December 21, 2024 is: 99.85

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of December 21, 2024, is Undervalued by 5.77% compared to the current share price 94.40

Intrinsic Value of as of December 21, 2024 is: 112.57

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of December 21, 2024, is Undervalued by 19.25% compared to the current share price 94.40

Last 5 Year EPS CAGR: 12.74%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 27.75%, which is a positive sign. The stock has a low average Working Capital Days of -62.83, which is a positive sign. The company has higher reserves (1,474.38 cr) compared to borrowings (1.38 cr), indicating strong financial stability. The company has shown consistent growth in sales (5.38 cr) and profit (381.38 cr) over the years.	The stock has a high average Cash Conversion Cycle of 78.00, which may not be favorable.

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in :
1. Net Profit Margin: 3.97%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 27.57% (Industry Average ROCE: 23.48%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 18.04% (Industry Average ROE: 27.83%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 11792.54
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.05
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 52.2 (Industry average Stock P/E: 47.59)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

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 belongs to the Industry of Construction & Contracting. Company’s Total Operating Revenue is Rs. 5546.62 Cr. and Equity Capital is Rs. 180.00 Cr. for the Year ended 31/03/2022.

INDUSTRY	ADDRESS	CONTACT
Construction, Contracting & Engineering	NBCC Bhawan, New Delhi Delhi 110003	co.sectt@nbccindia.com http://www.nbccindia.in

Management
Name	Position Held
Mr. K P Mahadevaswamy	Chairman & Managing Director
Mr. Saleem Ahmad	Director - Projects
Dr. Sumar Kumar	Director - Commercial
Mr. Rajeev Kumar	Independent Director
Prof. Bhimrao Panda Bhosale	Independent Director
Mr. Asim Misra	Independent Director
Mr. Sanjeet	Government Nominee Director
Mr. Ravi Kumar Arora	Government Nominee Director

FAQ

What is the latest intrinsic value of NBCC (India) Ltd?

The latest intrinsic value of NBCC (India) Ltd as on 21 December 2024 is ₹99.85, which is 5.77% higher than the current market price of ₹94.40. The stock has a market capitalization of 25,496 Cr. and recorded a high/low of 140/51.2 during the current fiscal year 2024-2025. As of Sep 2024, the company has reserves of ₹2,055 Cr and total liabilities of ₹8,178 Cr.

What is the Market Cap of NBCC (India) Ltd?

The Market Cap of NBCC (India) Ltd is 25,496 Cr..

What is the current Stock Price of NBCC (India) Ltd as on 21 December 2024?

The current stock price of NBCC (India) Ltd as on 21 December 2024 is 94.4.

What is the High / Low of NBCC (India) Ltd stocks in FY 2024-2025?

In FY 2024-2025, the High / Low of NBCC (India) Ltd stocks is 140/51.2.

What is the Stock P/E of NBCC (India) Ltd?

The Stock P/E of NBCC (India) Ltd is 52.2.

What is the Book Value of NBCC (India) Ltd?

The Book Value of NBCC (India) Ltd is 8.28.

What is the Dividend Yield of NBCC (India) Ltd?

The Dividend Yield of NBCC (India) Ltd is 0.44 %.

What is the ROCE of NBCC (India) Ltd?

The ROCE of NBCC (India) Ltd is 30.7 %.

What is the ROE of NBCC (India) Ltd?

The ROE of NBCC (India) Ltd is 23.0 %.

What is the Face Value of NBCC (India) Ltd?

The Face Value of NBCC (India) Ltd is 1.00.