NCC Q4 Review - Decent Performance; Order Book Remains Strong: ICICI Direct

Construction material sit on the building site. (Photographer Rolf Schulten/Bloomberg)

NCC Q4 Review - Decent Performance; Order Book Remains Strong: ICICI Direct


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.

ICICI Direct Report

NCC Ltd. reported a decent set of numbers in Q4 FY21 with revenue growth of 20% YoY to Rs 2617.7 crore on a standalone basis.

The topline growth was mainly driven by strong order book position and pick-up in execution.

However, operating margin declined 179 basis points YoY to 11.1% owing to higher sub-contracting expenses.

Consequently, operating profit improved merely 3.3% YoY to Rs 289.7 crore.

At the net level, a decent operating performance coupled with benign depreciation and interest cost has translated into 11.4% YoY growth to Rs 115.5 crore in adjusted profit after tax.

Click on the attachment to read the full report:

ICICI Direct NCC Q4FY21 Result Update.pdf


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