Despite a Foreign Institutional Investor selling stake worth Rs. 97.6 crore via bulk deal, the share price of this construction and infrastructure company surged by 6.6 percent to Rs. 333.25 in the morning trading session of Friday.
At 10:30 a.m., the shares of NCC Limited were trading in the green at Rs. 329.3, up by 5.4 percent, compared to its previous closing price of Rs. 312.55, and has a market cap of Rs. 20,675 crore.
According to the 6th June bulk deal available with the NSE, the foreign investor Smallcap World Fund Inc. sold nearly 31.69 lakh equity shares in NCC Limited worth Rs. 97.6 crore, at an average price of Rs. 308.13 per share, via open market transactions.
As of March 2024, Smallcap World Fund Inc. held nearly 1.11 crore equity shares, representing a 1.27 percent stake, in the company.
In the financial year 2024, the company entered the new segment of Smart Meters and bagged three projects worth Rs. 8,080 crore. It has already started a field trial of Smart Meters for the Bihar project and is planning to start the field trials for the Maharashtra packages in the month of June.
On a consolidated basis, the company’s revenue from operations grew by nearly 31 percent YoY from Rs. 4,949 crore in Q4 FY22-23 to Rs. 1,089.6 crore in Q4 FY23-24, accompanied by an increase in the after-tax profit by 17.6 percent YoY from Rs. 203 crore in Q4 FY22-23 to Rs. 238.74 crore in Q4 FY23-24.
During FY24, NCC’s consolidated order book increased by 15 percent YoY and stood at Rs. 57,536 crore, while its order inflow grew by 5 percent YoY to Rs. 27,283 crore.
On a year-on-year basis, the Earnings Before Interest, Taxes, Depreciation, and Amortisation, or EBITDA increased from Rs. 1,459 crore in FY22-23 to Rs. 1,769 crore in FY23-24, representing a growth of 21.2 percent.
The return on equity (ROE) stood at 10.7 percent in FY23-24, up from 9.87 percent in FY22-23, as well as a rise in the Return on Capital Employed (ROCE) from 21.08 percent in FY22-23 to 24.1 percent in FY23-24.
As per the shareholding pattern of March 2024, the Promoters hold a 22 percent stake in the company, Foreign Institutional Investors hold a 27.33 percent stake, while Retail Investors and Domestic Institutional Investors hold a 40.03 percent and 10.64 percent stake in NCC Limited, respectively.
Established as a Partnership firm in 1978, NCC Limited is engaged in the
infrastructure sector, primarily in the construction of industrial and commercial buildings, housing projects, roads, bridges and flyovers, water supply and environment projects, mining, power transmission lines, irrigation and hydrothermal power projects, and much more.
Written by Shivani Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
