Dolat Capital: NCC Q2 Review - Beat On All Fronts, Back On Growth Path  
Workers prepare reinforcing steel while working on a construction project in Ghaziabad, India. (Photographer: T. Narayan/Bloomberg)

Dolat Capital: NCC Q2 Review - Beat On All Fronts, Back On Growth Path  

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Dolat Capital Report

NCC Ltd. reported results above estimates on all fronts.

The company posted 11.0%/ 10.0%/ 27.0% YoY de-growth in revenue/ Ebitda/ profit after tax to Rs 15.4 billion/ Rs 2.1 billion/ Rs 584 million due to muted execution due to Covid-19 lockdown.

After adjusting Rs 501 million (Q2 FY20), adjusted profit after tax increased 94.9% YoY to Rs 584 million.

We increase our revenue estimates by 10.7%/ 4.5% and Ebitda margin by 73/ 56 basis points for FY21E/ FY22E considering H1 FY21 results and order inflows as on date.

Click on the attachment to read the full report:

Dolat Capital NCC Q2FY21 Result Update.pdf

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