NCC Limited — Investor Meet, 21-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

NCC has announced a board meeting on May 30, 2025, to consider the financial results for the quarter and half-year.

FY'25 revenues rose 5% YoY to INR22,199 Cr with a 9.1% EBITDA margin and ~4% PAT margin. Order book hit a record INR71,568 Cr, backed by strong inflows of INR32,888 Cr. Key segments: Buildings (INR22,440 Cr), Transportation (INR17,929 Cr), Electrical T&D (INR16,666 Cr). Execution challenges include payment delays and land approvals, capping FY'26 revenue growth guidance at 10%. Order pipeline stands at INR2.55 lakh Cr with INR22,000-25,000 Cr expected inflows. EBITDA margin guidance is 9%-9.25%. Capex will rise to INR750 Cr, driven by metro tunnelling and smart meter projects. Net debt improved sharply to INR710 Cr in Q4, with FY'26 debt expected modestly higher. Management is cautiously optimistic on margins and expects execution to pick up after Q2 FY'26.