NCC Limited has informed the Exchange about Transcript
NCC · price
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NCC Limited reported Q1 FY26 standalone revenue of INR 4,430 crores, down about 7% year-on-year, while consolidated revenue fell 6% to INR 5,208 crores. Standalone EBITDA margin stood at 9.02%, broadly in line with the company's 9% full-year guidance, with management indicating possible upside to margins as revenue scales. Order book remains strong at INR 70,087 crores, with Q1 inflows of INR 3,658 crores and L1 pipeline of INR 5,000-6,000 crores, putting the company at roughly 31% of the lower end of its FY26 order inflow guidance of INR 22,000-25,000 crores. Gross debt rose to INR 1,852 crores (net debt INR 1,497 crores) due to seasonal factors, but management expects debt to settle around INR 1,400-1,500 crores by year-end. Capex budget for FY26 is set at INR 750 crores, with INR 92 crores already deployed in Q1.
The 7% revenue decline in Q1 and slower-than-expected order conversion may keep near-term sentiment cautious, though management's reaffirmation of FY26 revenue and margin guidance, along with a healthy order book and pipeline, provides comfort on the medium-term growth path. Investors should watch Q2-Q3 for execution ramp-up as recent order wins begin contributing.