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NCC Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹119.38Overvalued by 18.79%vs CMP ₹147.00

P/E (12.8) × ROE (9.2%) × BV (₹125.00) × DY (1.49%)

₹154.06Fairly Valued by 4.80%vs CMP ₹147.00
MoS: +4.6% (Thin)Confidence: 48/100 (Moderate)Models: 4 Under, 5 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹128.6923%Over (-12.5%)
Graham NumberEarnings₹179.9216%Under (+22.4%)
Earnings PowerEarnings₹43.8111%Over (-70.2%)
DCFCash Flow₹131.5014%Over (-10.5%)
Net Asset ValueAssets₹125.047%Over (-14.9%)
EV/EBITDAEnterprise₹216.349%Under (+47.2%)
Earnings YieldEarnings₹115.107%Over (-21.7%)
ROCE CapitalReturns₹223.927%Under (+52.3%)
Revenue MultipleRevenue₹352.755%Under (+140%)
Consensus (9 models)₹154.06100%Fairly Valued
Key Drivers: Wide model spread (₹44–₹353) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 7.8%

*Investments are subject to market risks

Analyst Summary

NCC Ltd operates in the Construction, Contracting & Engineering segment, current market price is ₹147.00, market cap is 9,251 Cr.. At a glance, stock P/E is 12.8, ROE is 9.19 %, ROCE is 16.8 %, book value is 125, dividend yield is 1.49 %. The latest intrinsic value estimate is ₹154.06, which is broadly in line with the current market price. On operating trend, latest reported sales are about ₹22,199 Cr versus the prior period change of 6.5%, while latest net profit is about ₹868 Cr with a prior-period change of 17.3%. The 52-week range shown on this page is 222/130, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisNCC Ltd. is a Public Limited Listed company incorporated on 22/03/1990 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) is L72200TG1990PLC…

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

Investment Snapshot

53
NCC Ltd scores 53/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health67/100 · Strong
ROCE 16.8% GoodROE 9.2% AverageD/E 0.33 ModerateInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money45/100 · Moderate
FII holding down -1.58% (6mo) SellingDII holding up 1.23% MF buyingPromoter holding at 23.1% Stable
Earnings Quality50/100 · Moderate
OPM stable around 9% Steady
Quarterly Momentum25/100 · Weak
Revenue (4Q): -8% YoY DecliningProfit (4Q): -8% YoY Declining
Industry Rank75/100 · Strong
P/E 12.8 vs industry 56.1 Cheaper than peersROCE 16.8% vs industry 15.9% Average3Y sales CAGR: 26% High growth

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: August 25, 2026, 7:32 am

Market Cap 9,251 Cr.
Current Price 147
Intrinsic Value₹154.06
High / Low 222/130
Stock P/E12.8
Book Value 125
Dividend Yield1.49 %
ROCE16.8 %
ROE9.19 %
Face Value 2.00
PEG Ratio1.64

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

View Share Price Target for NCC Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
NCC Ltd 9,251 Cr. 147 222/13012.8 1251.49 %16.8 %9.19 % 2.00
Welspun Enterprises Ltd 8,968 Cr. 648 654/39125.3 2200.46 %16.7 %13.6 % 10.0
ITD Cementation India Ltd 13,472 Cr. 784 944/46832.9 1070.25 %27.6 %21.8 % 1.00
Man Infraconstruction Ltd 4,589 Cr. 114 180/77.121.2 56.20.79 %13.2 %9.16 % 2.00
AGI Infra Ltd 3,604 Cr. 288 434/22535.2 37.20.03 %20.1 %25.0 % 1.00
Industry Average3,397.60 Cr163.9056.07127.050.23%15.90%10.54%21.58

All Competitor Stocks of NCC Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 3,9104,9494,3804,7205,2606,4855,5285,1965,3456,1315,1794,5434,868
Expenses 3,5334,4843,9714,4164,7555,9345,0504,7534,9045,5764,7234,1504,432
Operating Profit 376465409304505551478443441555456393436
OPM % 10%9%9%6%10%8%9%9%8%9%9%9%9%
Other Income 5624282829133129485831440
Interest 138143132153156153155167166193164172196
Depreciation 52535353535254555454555759
Profit before tax 242293252125325358300250270367268209182
Tax % 30%31%27%31%29%33%26%30%24%28%24%20%26%
Net Profit 16820318486231239223175206265205167135
EPS in Rs 2.513.042.761.233.513.813.342.603.084.043.062.461.95

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 7,2729,5139,5279,0018,39112,8968,9017,94911,13815,55320,84522,19920,721
Expenses 6,5148,5138,5408,3267,51811,3037,8247,03010,11014,09419,07620,28118,880
Operating Profit 7581,0009876758731,5921,0779191,0281,4591,7691,9181,841
OPM % 10%11%10%8%10%12%12%12%9%9%8%9%9%
Other Income 1051277187-23176310527214499165134
Interest 654737643513460522554480478515595680724
Depreciation 235277248203172193199181187203212216225
Profit before tax -27113167462198943873636358851,0611,1871,026
Tax % -138%45%51%82%37%37%19%22%22%27%30%27%
Net Profit -948828139568314283494646740868772
EPS in Rs 0.060.972.170.572.819.635.524.407.919.7011.3213.0611.51
Dividend Payout % 156%41%28%70%36%16%4%18%25%23%19%17%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)633.33%70.83%-90.24%1637.50%308.63%-44.72%-9.87%74.56%30.77%14.55%17.30%
Change in YoY Net Profit Growth (%)0.00%-562.50%-161.08%1727.74%-1328.87%-353.35%34.85%84.43%-43.79%-16.22%2.75%

NCC 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:9%
5 Years:20%
3 Years:26%
TTM:-1%
Compounded Profit Growth
10 Years:34%
5 Years:17%
3 Years:34%
TTM:4%
Stock Price CAGR
10 Years:13%
5 Years:44%
3 Years:41%
1 Year:-36%
Return on Equity
10 Years:8%
5 Years:9%
3 Years:11%
Last Year:11%

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

Balance Sheet

Last Updated: July 9, 2026, 3:00 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 111111111120120122122122126126126126
Reserves 3,2913,2813,3363,9624,4754,7845,0495,4816,0416,5147,1987,743
Borrowings 3,3903,2082,5722,0612,6912,1812,0621,3029749801,5943,457
Other Liabilities 5,7535,7215,0906,2657,3746,7246,3077,5539,40910,47512,08314,680
Total Liabilities 12,54512,32111,10912,40814,66013,81213,54014,45816,55018,09521,00026,006
Fixed Assets 2,4461,6741,0991,1581,5511,4131,4171,4431,5031,5651,6502,056
CWIP 1181231315227224137351
Investments 1,1331,128729619475448440346352155148153
Other Assets 8,9559,5109,28110,60812,62111,93511,66112,66214,67316,33419,16523,446
Total Assets 12,54512,32111,10912,40814,66013,81213,54014,45816,55018,09521,00026,006

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 8673953145866739318421,4161,1001,359742-459
Cash from Investing Activity + -95193376-188-61911-207-66-192-319-59-766
Cash from Financing Activity + -643-551-818-45389-1,047-558-1,275-893-771-247878
Net Cash Flow 12937-129-56143-105777516270436-346
Free Cash Flow 7561201623142348797021,2488771,109477-1,401
CFO/OP 91%50%53%82%57%100%94%156%96%98%45%-7%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow758.00-2.00984.00673.00871.00-1.00-1.00917.000.00-973.00-979.000.00

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 88641411672169711212683755555
Inventory Days 3122182652903381031661801171028785
Days Payable 255175301335428328491565447393325384
Cash Conversion Cycle 145107105122126-127-213-258-246-217-184-244
Working Capital Days 7294168911219010781624548
ROCE %9%12%12%8%12%21%13%11%12%19%22%22%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters 22.00%22.00%22.00%22.00%22.00%22.02%22.10%22.10%22.11%22.25%22.81%23.09%
FIIs 24.18%23.89%27.33%23.65%20.86%18.13%13.79%12.70%12.87%11.49%12.11%11.29%
DIIs 11.03%10.52%10.63%11.40%12.34%14.17%15.60%17.50%16.65%15.30%16.40%17.88%
Public 42.81%43.59%40.03%42.96%44.78%45.68%48.49%47.69%48.37%50.96%48.68%47.75%
No. of Shareholders 3,29,4983,67,8224,05,0374,71,5325,02,0875,17,7095,78,4355,57,5855,60,0565,69,3705,57,4185,43,274

Shareholding Pattern Chart

No. of Shareholders

NCC 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 17,305,369 0.93 253.415,652,9692025-12-15 00:36:5410.56%
ICICI Prudential Infrastructure Fund 13,053,905 2.37 191.156,300,0002025-12-08 07:21:52107.2%
ICICI Prudential Multi Asset Fund 11,714,772 0.21 171.5411,143,1172025-12-15 00:36:545.13%
Quant Infrastructure Fund 8,706,522 4.57 127.492,980,0002025-12-08 07:21:52192.17%
ICICI Prudential Large & Mid Cap Fund 7,107,306 0.38 104.076,507,3062025-12-15 00:36:549.22%
Bandhan Small Cap Fund 5,201,350 0.4 76.164,751,3502026-02-23 03:11:269.47%
ICICI Prudential Equity & Debt Fund 3,886,663 0.12 56.913,200,0002025-12-15 00:36:5421.46%
Quant Multi Cap Fund 3,612,332 0.71 52.9N/AN/AN/A
Franklin Build India Fund 3,100,000 1.51 45.392,500,0002025-12-08 07:21:5224%
HDFC Infrastructure Fund 2,350,000 1.45 34.412,100,0002026-01-26 02:28:2211.9%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.002.002.002.00
Basic EPS (Rs.) 13.0611.329.777.914.40
Diluted EPS (Rs.) 13.0611.329.777.864.39
Cash EPS (Rs.) 17.1115.0813.3511.147.59
Book Value[Excl.RevalReserv]/Share (Rs.) 116.65105.75103.3096.6889.68
Book Value[Incl.RevalReserv]/Share (Rs.) 116.65105.75103.3096.6889.68
Revenue From Operations / Share (Rs.) 353.58332.01247.72182.63130.35
PBDIT / Share (Rs.) 33.0330.1825.5917.9516.97
PBIT / Share (Rs.) 29.5926.8022.3614.8914.00
PBT / Share (Rs.) 18.7616.8113.9310.385.92
Net Profit / Share (Rs.) 13.6711.7110.138.084.62
NP After MI And SOA / Share (Rs.) 13.0611.329.707.914.40
PBDIT Margin (%) 9.349.0910.329.8213.01
PBIT Margin (%) 8.368.079.028.1510.73
PBT Margin (%) 5.305.065.625.684.54
Net Profit Margin (%) 3.863.524.084.423.54
NP After MI And SOA Margin (%) 3.693.403.914.333.37
Return on Networth / Equity (%) 11.1910.709.878.615.18
Return on Capital Employeed (%) 23.5824.1021.0814.8814.93
Return On Assets (%) 3.903.923.683.331.98
Long Term Debt / Equity (X) 0.030.010.010.020.03
Total Debt / Equity (X) 0.210.140.150.230.33
Asset Turnover Ratio (%) 1.141.201.000.720.54
Current Ratio (X) 1.341.341.341.371.38
Quick Ratio (X) 1.211.181.201.231.22
Inventory Turnover Ratio (X) 12.424.753.843.382.48
Dividend Payout Ratio (NP) (%) 16.8419.4320.6110.114.55
Dividend Payout Ratio (CP) (%) 13.3314.9715.467.292.71
Earning Retention Ratio (%) 83.1680.5779.3989.8995.45
Cash Earning Retention Ratio (%) 86.6785.0384.5492.7197.29
Interest Coverage Ratio (X) 3.053.193.122.292.16
Interest Coverage Ratio (Post Tax) (X) 2.262.292.261.601.61
Enterprise Value (Cr.) 13344.7714593.887257.234565.986360.39
EV / Net Operating Revenue (X) 0.600.700.460.400.80
EV / EBITDA (X) 6.447.704.524.176.15
MarketCap / Net Operating Revenue (X) 0.590.690.420.320.60
Retention Ratios (%) 83.1580.5679.3889.8895.44
Price / BV (X) 1.802.201.080.630.93
Price / Net Operating Revenue (X) 0.590.690.420.320.60
EarningsYield 0.060.040.090.130.05

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

[display_about_company_data title=”About the Company – Qualitative Analysis”]

FAQ

What is the intrinsic value of NCC Ltd and is it undervalued?

As of 09 September 2026, NCC Ltd's intrinsic value is ₹154.06, which is 4.80% higher than the current market price of ₹147.00, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (9.19 %), book value (₹125), dividend yield (1.49 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of NCC Ltd?

NCC Ltd is trading at ₹147.00 as of 09 September 2026, with a FY2026-2027 high of ₹222 and low of ₹130. The stock is currently near its 52-week low. Market cap stands at ₹9,251 Cr..

How does NCC Ltd's P/E ratio compare to its industry?

NCC Ltd has a P/E ratio of 12.8, which is below the industry average of 56.07. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is NCC Ltd financially healthy?

Key indicators for NCC Ltd: ROCE of 16.8 % indicates efficient capital utilization. Dividend yield is 1.49 %.

Is NCC Ltd profitable and how is the profit trend?

NCC Ltd reported a net profit of ₹868 Cr in Mar 2025 on revenue of ₹22,199 Cr. Compared to ₹494 Cr in Mar 2022, the net profit shows an improving trend.

Does NCC Ltd pay dividends?

NCC Ltd has a dividend yield of 1.49 % at the current price of ₹147.00. The company pays dividends, though the yield is modest.

Last Updated: August 25, 2026, 7:32 am
Author: Getaka|Social: XLinkedIn
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 NCC 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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