Edelweiss has buy call on with a target price of Rs 106. The current market price of NCC is Rs 78.75.
NCC Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 4692.77 Crore) operating in Construction sector.
NCC Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 4692.77 Crore) operating in Construction sector.
Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1708.32 Crore, up 31.65 % from last quarter Sales of Rs 1297.60 Crore and down -11.86 % from last year same quarter Sales of Rs 1938.28 Crore. Company reported net profit after tax of Rs 69.74 Crore in latest quarter.
Investment Rationale
With book-to-bill exceeding 5x and working capital cycle improving, it has revised up FY22/23E earnings 17%/28% and increased P/E from 9x to 14x.
Promoter/FII Holdings
Promoters held 19.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 9.8 per cent, DIIs 12.2 per cent and public and others 58.3 per cent.
