NBCC (India) Limited Earnings Summary — Q4 FY2026
NBCC (India) Limited Reports Record Profit in Q4 FY2026 Supported by Higher Scalability and Improved Non-Operating Income
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 50.4% sequentially in Q1 FY2027.
- Revenue of ₹2,260 Cr is 5.5% lower year-on-year.
- Revenue has compounded at -22.4% annualised over the last 10 quarters.
- Net profit of ₹155 Cr is 17.2% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at 5.9% annualised across the period.
- Operating margin stands at 6.9% in Q1 FY2027.
- Operating margin expanded by 225 bps year-on-year.
- Over the last two years operating margin has expanded by 258 bps.
- PBT margin is 9.4%.
- Expense growth of -7.7% remained below revenue growth of -5.5%.
- Operating profit of ₹155 Cr is 40.6% higher year-on-year.
- Operating leverage continues to improve.
- 4 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 49/100 (Moderate) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Stable | 2,260 | 4,560 | 3,022 | 2,914 | 2,391 | 4,644 | 2,809 | 2,446 | 2,143 | 3,996 |
| Expenses | Stable | 2,105 | 4,273 | 2,909 | 2,809 | 2,281 | 4,353 | 2,665 | 2,346 | 2,051 | 3,753 |
| Operating Profit | Volatile | 155 | 287 | 114 | 104 | 110 | 291 | 144 | 100 | 92 | 243 |
| Operating Margin | Accelerating | 6.9% | 6.3% | 3.8% | 3.6% | 4.6% | 6.3% | 5.1% | 4.1% | 4.3% | 6.1% |
| Other Income | Volatile | 61 | 59 | 152 | 103 | 74 | -39 | 54 | 67 | 54 | -44 |
| Interest | Softening | — | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | Strong Uptrend | 4 | 4 | 3 | 3 | 3 | 3 | 2 | 1 | 1 | 1 |
| Profit Before Tax | Improving | 213 | 342 | 263 | 205 | 181 | 249 | 196 | 166 | 144 | 198 |
| Tax | Improving | 55 | 89 | 66 | 48 | 46 | 66 | 54 | 41 | 37 | 56 |
| Net Profit | Improving | 155 | 241 | 193 | 154 | 132 | 176 | 138 | 122 | 105 | 136 |
| Net Margin | Improving | 6.8% | 5.3% | 6.4% | 5.3% | 5.5% | 3.8% | 4.9% | 5.0% | 4.9% | 3.4% |
Key Takeaways
- Net Profit reached a record quarterly high of INR 254 Cr, a 38.8% increase YoY from INR 183 Cr.
- Quarterly revenue saw a significant sequential (QoQ) recovery of 50.89%, although slightly lower by 1.8% compared to the prior year's corresponding quarter.
- Operating Profit Margin (OPM) remained stable at 6%, reflecting the inherent asset-light PMC model dynamics.
- The company maintains an exceptionally strong balance sheet with zero debt and high net worth growth, ending FY26 with reserves of INR 2,747 Cr.
- Other income continues to be a volatile but significant contributor to the bottom line, standing at INR 59 Cr in the latest quarter.
- The company transitioned to a higher dividend payout of 38% for the full year, indicating healthy cash distribution policies.
- Execution of high-margin redevelopment projects like the Amrapali resolution continues to drive profit growth.
Management Guidance
Management remains focused on pivoting toward high-margin redevelopment and residential projects, leveraging its Navratna PSU status and role as a preferred partner for government infrastructure.
Sentiment Shift
Improving
While revenue witnessed a marginal YoY dip, the substantial growth in net profit and record PBT levels signal improved execution efficiency and higher interest/other income accruals.
Outlook
The outlook remains strong with massive order book visibility from government projects and a shift toward high-margin consultancy fees, though rising debtor days and non-operating income volatility are key metrics to monitor.
From the Annual Report (Key Quotes)
“The company maintains a robust net cash position and a dominant market share in government-based consultancy.”
“The vision to pivot towards high-margin redevelopment and residential projects has been successfully executed.”
“High ROCE (>30% in recent FYs) reflects the efficiency of the asset-light PMC-led model.”
Official Quarterly Documents
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This summary is AI-generated from NBCC (India) Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.