Shares of this midcap company jumped around 1 percent in Tuesday’s trading session after receiving an order worth Rs. 70 crores from Grid-India. The shares have delivered a muti-bagger return of 289 percent to its shareholders in one year.
With a market capitalization of Rs. 28,881 crores, the shares of NBCC (India) Ltd started Tuesday’s trading session on a flatter note at Rs. 160.50 compared to its previous close of Rs. 159.47. During the trading session, the shares hit a high of Rs. 164.14, gaining around 1 percent and are currently trading at Rs. 158 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing announced that it had been awarded a work order from the Grid Controller of India Limited (Grid-India) worth Rs. 70 crores for planning, designing and executing interior works including furniture, fit-out works, cabling and other infrastructure work at “Grand Rue” New Delhi.
Coming onto the company’s financial statements, the revenue zoomed by 64 percent from Rs. 2,405.51 crores during the December quarter to Rs. 3,936.98 crores during the March quarter. In addition, the net profits jumped around 25 percent from Rs. 113.57 crores to Rs. 141.5 crores during the same period.
As of 31st March 2024, the company has an order book of Rs. 70,000 crores. Further, they are expecting an order inflow of Rs.25,000 crores with awards of Rs. 12,000 crores to Rs.15,000 crores. It has also signed MoUs with BHEL (land monetization), HUDCO, DMRC, and the Institute of Company Secretaries of India (ICSI).
Earlier, the PSU company received significant orders totalling Rs. 491.45 crores from various clients, including CGHS, the Ministry of External Affairs, and Odisha State Cooperative Bank Ltd. Notably, these orders encompass healthcare complexes, residences, and infrastructure development projects.
Moreover, NBCC is targeting a top-line of Rs. 12,500 crores to Rs. 13,000 crores in the next financial year and expecting EBITDA margins of 5.75 percent to 6 percent and PAT margins of 5.25 percent to 6 percent.
In terms of key financial metrics, the company reported a Return on Equity (RoE) of 18.04 percent and a return on capital employed (RoCE) of 27.57 percent for the period spanning FY23-24.
Headquartered in New Delhi, NBCC is a Government of India Navratna Enterprise under the Ministry of Housing and Urban Affairs. The company operates in three major segments, Project Management Consultancy, Engineering Procurement and Construction, and Real Estate.
Written By Vaibhav Patil
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