NCC Limited Earnings Summary — Q1 FY2027
NCC Limited Posts Strong Top-line Growth in Q1 FY27 with 12% Revenue Increase and Robust Order Inflow
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 6.8% sequentially in Q1 FY2027.
- Revenue of ₹5,812 Cr is 12.2% higher year-on-year.
- Revenue has compounded at -4.8% annualised over the last 10 quarters.
- Net profit of ₹216 Cr is 12.6% above the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Net profit has compounded at -4.3% annualised across the period.
- Operating margin stands at 9.4% in Q1 FY2027.
- Operating margin expanded by 57 bps year-on-year.
- Over the last two years operating margin has expanded by 73 bps.
- PBT margin is 5.4%.
- Expense growth of 11.5% remained below revenue growth of 12.2%.
- Operating profit of ₹545 Cr is 19.5% higher year-on-year.
- Operating leverage continues to improve.
- 2 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 55/100 (Healthy) 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 | 5,812 | 6,233 | 4,868 | 4,543 | 5,179 | 6,131 | 5,345 | 5,196 | 5,528 | 6,485 |
| Expenses | Stable | 5,267 | 5,682 | 4,432 | 4,150 | 4,723 | 5,576 | 4,904 | 4,753 | 5,050 | 5,934 |
| Operating Profit | Accelerating | 545 | 550 | 436 | 393 | 456 | 555 | 441 | 443 | 478 | 551 |
| Operating Margin | Stable | 9.4% | 8.8% | 9.0% | 8.7% | 8.8% | 9.1% | 8.3% | 8.5% | 8.7% | 8.5% |
| Other Income | Volatile | 34 | 21 | 0 | 44 | 31 | 58 | 48 | 29 | 31 | 13 |
| Interest | Improving | 198 | 213 | 196 | 172 | 164 | 193 | 166 | 167 | 155 | 153 |
| Depreciation | Improving | 69 | 65 | 59 | 57 | 55 | 54 | 54 | 55 | 54 | 52 |
| Profit Before Tax | Accelerating | 312 | 294 | 182 | 209 | 268 | 367 | 270 | 250 | 300 | 358 |
| Tax | Accelerating | 83 | 77 | 46 | 41 | 64 | 102 | 64 | 76 | 77 | 119 |
| Net Profit | Accelerating | 216 | 206 | 122 | 155 | 192 | 254 | 193 | 163 | 210 | 239 |
| Net Margin | Stable | 3.7% | 3.3% | 2.5% | 3.4% | 3.7% | 4.1% | 3.6% | 3.1% | 3.8% | 3.7% |
Key Takeaways
- Consolidated revenue grew 12.2% YoY to ₹5,812 Cr, driven by strong execution across construction segments.
- Net profit attributable to shareholders reached ₹216.40 Cr, a 12.6% increase compared to ₹192.14 Cr in the same quarter last year.
- The company secured new orders worth ₹3,882 Cr during Q1, maintaining a strong consolidated order book of ₹81,214 Cr.
- EBITDA margins showed a slight improvement YoY, standing at approximately 9.38% versus 8.76% in Q1 FY26.
- Construction remains the dominant segment, contributing ₹5,759 Cr to gross segment revenue, while Real Estate and Others remain minor contributors.
- Interest costs rose to ₹213.47 Cr from ₹163.62 Cr YoY, reflecting higher working capital requirements and debt levels.
- Standalone results mirrored consolidated trends with a 12% YoY revenue increase to ₹4,952 Cr.
Management Guidance
Management maintains a strategy focused on 'quality over quantity,' prioritizing high-margin sub-sectors like smart metering and water infrastructure. The massive order book of over ₹81,000 Cr provides clear revenue visibility for the next 3-4 years.
Sentiment Shift
Stable
Performance remains consistent with steady top-line growth and stable margins despite a slight sequential dip in revenue typical of seasonal construction cycles.
Outlook
The outlook remains healthy backed by a record-high order book and strategic diversification into higher technical expertise areas like mining and smart meters, though high finance costs and low promoter holding remain key monitoring factors.
From the Annual Report (Key Quotes)
“The Company has reported turnover of ₹ 5842.48 Crore (including other income) on a consolidated basis... an increase of 12% on year-on-year basis.”
“The Company has secured orders aggregating to ₹ 3882 Crore (including change in scope) and the Order Book stood at ₹ 81214 Crore.”
“Exceptional items for the earlier periods pertain to provision... on account of the implementation of the new labour codes.”
Official Quarterly Documents
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This summary is AI-generated from NCC Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.