Founded in 1960 as a Government of India Civil Engineering Enterprise, NBCC, headquartered in Delhi, has evolved into a Navratna CPSE. It has emerged as a trailblazer in the Construction Sector, harnessing its expertise, innovation, and dedication to excellence in quality, timely delivery, and a dedicated workforce to spearhead the industry.
Business Model:
NBCC, a Navratna CPSE, excels in the Construction Sector.
Operations span Project Management Consultancy (PMC), Engineering Procurement & Construction (EPC), and Real Estate Development.
PMC Focus: Specializes in redevelopment projects for governments.
EPC Niche: Noteworthy for constructing chimneys and cooling towers for the power sector.
Real Estate: Engaged in the development of residential and commercial inventories.
Market Presence: Listed on NSE and BSE with substantial Market Capitalization.
New Vertical: Government Properties Redevelopment is gaining momentum.
Overseas Ventures: Active operations in Libya, Iraq, Yemen, Nepal, Maldives, Mauritius, Turkey, Botswana, Oman, and more, with expansion plans in Seychelles, Dubai, Burundi, and beyond.
Future Prospects: Engaged in MoUs for Infrastructure and Energy Development Projects in India and Belarus with JSV Belzarubezhstroy.
Company Valuation
Sector
Construction
NSE
NBCC
BSE
534309
Market Capitalization
Rs 24,795 Crore (As of May 31, 2024)
Book Value Per Share
Rs 11.88
Face Value
Rs 1
P/E ratio
66.82
52 week H/L
176.85 / 38.20
Dividend Yield (%)
0.46
Shareholding Pattern
Particulars
Jun-23
Sept-23
Dec-23
Mar-24
Foreign Promoters %
0
61.75
0
0
Indian Promoters %
61.75
0
61.75
61.75
DIIs %
10.32
10.21
10.4
9.94
FIIs %
3.84
4.14
4.46
4.33
Others %
24.09
23.9
23.39
23.98
Ratios (Consolidated)
Particulars
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
ROCE %
44.22
36.85
32.92
28.95
30.34
ROE %
21.89
6.69
15.32
13.95
14.98
ROA %
2.99
0.8
1.9
1.82
2.17
Interest Coverage Ratio
3.56
2.19
2.3
2.76
2.94
D/E
0
0
0
0
0
P/B
7.91
2.03
5.12
3.7
3.28
Balance Sheet (Consolidated Figures in Rs. Crores.)
(Year-end March)
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Share Capital
180
180
180
180
180
Reserves
1,328
1,270
1,457
1,588
1,765
Borrowings
0
0
0
0
0
Other Liabilities
11,773
10,706
11,153
11,343
10,600
Total Liabilities
13,282
12,156
12,791
13,111
12,544
Fixed Assets
180
163
158
158
165
Capital WIP
0
0
16
2
4
Investments (Long Term)
29
20
20
18
19
Other Assets
13,073
11,972
12,579
12,933
12,356
Total Assets
13,282
12,156
12,791
13,111
12,544
Profit & Loss (Consolidated Figures in Rs. Crores.)
(Year-end March)
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
TTM
Sales
9,943
8,087
6,832
7,691
8,754
10,409
Other Income
427
451
388
366
392
234
Expenses
9,575
7,986
6,706
7,485
8,410
9,895
Operating Profit
795
552
514
571
737
747
OPM%
8
7
8
7
8
7
Interest
222
249
221
179
191
0
Depreciation
4
7
6
5
5
4
Profit Before Tax
569
296
287
315
372
559
Tax%
31
67
18
24
25
25
Net Profit
375
78
222
224
267
402
PATM%
4
1
3
3
3
4
Cash Flows (Consolidated Figures in Rs. Crores.)
(Year-end March)
Mar 2019
Mar 2020
Mar 2021
Mar 2022
Mar 2023
Cash from Operating Activity
638
113
431
80
-440
Cash from Investing Activity
-209
88
178
33
339
Cash from Financing Activity
-150
-160
-41
-95
-90
Net Cash Flow
279
41
568
19
-192
Q4 FY24 Result Update:
Revenue surged by 44.25% year-over-year, showcasing robust top-line growth.
Profit witnessed a substantial increase of 25.53% year-over-year, indicating efficient cost management and operational prowess by NBCC India.
Quarterly comparison depicts a remarkable growth trend, with revenue soaring by 66.81% compared to the previous quarter, and profit increasing by 22.89% sequentially.
The company adeptly managed its Selling, general & administrative expenses, which rose by only 0.59% quarter-over-quarter and significantly decreased by 39.54% year-over-year.
NBCC India’s operating income displayed strong performance, with a 56.39% increase quarter-over-quarter and a notable 49.4% rise year-over-year.
The Earnings Per Share (EPS) for Q4 reached ₹1.14, marking an impressive 84.1% increase year-over-year, reflecting positively on the company’s profitability.
Quarterly Results (Consolidated Figures in Rs. Crores)
Particulars
Dec 2022
Mar 2023
Jun 2023
Sep 2023
Dec 2023
Mar 2024
Sales
2,136
2,790
1,918
2,053
2,413
4,025
Other Income
55
53
48
76
59
51
Expenses
2,041
2,686
1,861
1,958
2,295
3,781
Operating Profit
151
157
105
171
176
295
OPM%
7
6
5
8
7
7
Interest
0
0
0
0
0
0
Depreciation
1
2
1
1
1
1
Profit Before Tax
95
151
104
105
152
198
Tax%
25
25
25
22
25
28
Net Profit
69
108
75
80
111
136
PATM%
3
4
4
4
5
3
Conclusion:
In conclusion, the fundamental analysis of NBCC underscores its commendable performance across various key metrics. The company has demonstrated robust top-line growth, efficient cost management, and a strong operational performance. Quarterly comparisons reveal a remarkable growth trajectory, with significant increases in revenue and profit. Additionally, NBCC has effectively managed its expenses and exhibited strong operating income. The impressive increase in Earnings Per Share (EPS) further reflects positively on the company’s profitability. Overall, these findings suggest that NBCC is well-positioned for sustained growth and success in the future.
