NCC Limited has informed the Exchange about Transcript
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NCC Limited filed the transcript of its Q4 and FY25 earnings call held on May 16, 2025. The company reported its highest-ever order book of INR 71,568 crores, with FY25 order inflows of INR 32,888 crores (about 50% above the upper end of its guidance). Standalone revenue grew 5% YoY to INR 19,205 crores, with EBITDA margin at 9.09% (up marginally from 9% in FY24). Net debt dropped sharply from INR 2,344 crores in Q3 to INR 710 crores by end of Q4, and the debt-to-equity ratio fell to 0.2. ROCE improved to 14.61% and EPS rose to INR 12.10. The board declared a 110% dividend (INR 2.20 per share). For FY26, management guided for 10% revenue growth, EBITDA margin of 9%–9.25%, and order inflows of INR 22,000–25,000 crores, supported by a INR 2.55 lakh crore project pipeline.
Record order book and a major debt reduction in Q4 signal financial strength and improved cash flows, which should support shareholder confidence. However, the FY26 revenue growth guidance of 10% is below the original 15% target, and management flagged execution risks from client-side payment delays and project gestation, which may keep near-term upside limited.