NCC shares surge 7% on strong Q4 performance

The industrial building construction company's net profit increased 25.2 per cent in the fourth quarter of financial year 2024 (Q4FY24) to Rs 239.2 crore

Shares of NCC surged as much as 6.63 per cent to hit an intraday high of Rs 267.70 per share on Thursday after announcing a strong set of results. 

The industrial building construction company’s net profit increased 25.2 per cent to Rs 239.2 crore in the fourth quarter of financial year 2024 (Q4FY24), from Rs 191 crore in the same quarter last year (Q4FY23).

NCC’s topline jumped 31 per cent on a year-on-year (Y-o-Y) basis to Rs 6,485 crore in Q4FY24, from Rs 4,949 crore in Q4FY23. 

The company’s earnings before interest, taxes, depreciation and amortisation (Ebitda) soared 18.5 per cent to Rs 550.4 crore in March quarter of FY24, as against Rs 464.6 crore in the March quarter of FY23. Consequently, the margin decreased slightly to 8.5 per cent, from 9.4 per cent year-on-year (Y-o-Y).

NCC’s consolidated net debt stood at Rs 428 crore as of March 31, 2024.

The Board of Directors of the company proposed a dividend payment of Rs 2.20 per equity share with a face value of Rs 2 each, for FY24.

During the quarter, the company entered a new segment of smart metres, and bagged three projects of Rs 8,080 crore. NCC has already started a field trial of smart metres for the Bihar project. It is also planning to start the field trials for the Maharashtra packages next month.

Separately, the company approved the appointment of Rajender Mohan Malla as an additional director in the category of non-executive independent director on the board of the company with effect from July 1, 2024.  

The company received new orders worth Rs 3,086 crore in March, NCC said in a statement last month.

The market capitalisation of NCC is Rs 16,433.30 crore, according to Bombay Stock Exchange (BSE).

The 52-week high of NCC stock is Rs 277.90 while its 520-week low is Rs 99.55 per share. 

At 10:00 AM, shares of NCC were trading 6.35 per cent higher at Rs 267 per share. By comparison, S&P BSE Sensex was up 0.24 per cent higher at Rs 73,159.60.