Here is a data-driven look at NCC Ltd. (NCC), covering financial performance, valuation, and shareholding trends.
NCC Revenue Trend
A 6.6% jump in revenue took NCC Ltd.'s top line to ₹22,355 Cr in FY2025.
NCC Ltd.'s revenue compounded at 8.9% over 10 years — not a breakout compounder, but steady enough to suggest a stable business.
A ₹22,355 Cr revenue base makes NCC Ltd. a major name in the Indian construction sector.
Revenue has moved in the same direction for 4 years running, suggesting the growth trend has structural legs.
| Year | Revenue | YoY % |
|---|---|---|
| FY2025 | ₹22,355 Cr | +6.6% |
| FY2024 | ₹20,971 Cr | +33.6% |
| FY2023 | ₹15,701 Cr | +40.1% |
| FY2022 | ₹11,209 Cr | +39.0% |
| FY2021 | ₹8,065 Cr | — |
View NCC Ltd.'s full 10-year revenue trend with CAGR analysis →
NCC Profitability
On the profitability front, NCC Ltd. did well — net income rose 17.3% to ₹868 Cr from ₹740 Cr a year earlier.
On the margin front, things were flat — net profit margin stayed around 3.9% in FY2025.
Per-share earnings moved to ₹13.06 in FY2025 from ₹11.32 in FY2024.
Is NCC Undervalued
Per the P/E Ratio model, NCC Ltd. has an estimated intrinsic value of ₹212 (43.9% upside).
NCC Ltd. shares are currently trading at ₹147.24.
Craytheon also calculates intrinsic value using the EPS Growth and DCF models. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹212 | 43.9% upside to fair value |
| EPS Growth | Upgrade | Upgrade |
| DCF | Upgrade | Upgrade |
See all valuation models for NCC Ltd. with detailed assumptions →
NCC Shareholding Pattern
Over the past 4 quarters, promoters bumped up their stake from 22.1% to 22.8%.
FII ownership stands at 12.1%, down from the 12.7% recorded a year ago.
Domestic institutions moved their stake down to 16.4% from 17.5% over the past year.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Mar 2026 | 22.8% | 12.1% | 16.4% | 48.7% |
| Dec 2025 | 22.2% | 11.5% | 15.3% | 51.0% |
| Sep 2025 | 22.1% | 12.9% | 16.6% | 48.4% |
| Jun 2025 | 22.1% | 12.7% | 17.5% | 47.7% |
Track quarterly shareholding changes for NCC Ltd. →
NCC Balance Sheet
Proportional view as of 3 Jun 2026. Hover blocks for details.
Assets
Liabilities & Equity
Total assets stood at ₹210.06B at the end of FY2025, up 16.1% from ₹180.97B a year earlier.
Other Assets is the largest block at 63.3%, followed by Receivables at 16.0% and Inventories at 8.6%.
Equity makes up 35.7% of liabilities and equity, with debt at 7.6% and operating liabilities at 56.7%. Over the year, debt is up 62.6% and equity is up 10.1%.
Balance sheet composition — FY 2025
| Category | Value |
|---|---|
| Cash & ST Investments | 9.94B |
| Receivables | 33.55B |
| Inventories | 18.10B |
| Property, Plant & Equipment | 13.85B |
| Investments | 1.43B |
| Intangibles & Goodwill | 217.50M |
| Other Assets | 132.98B |
| Category | Value |
|---|---|
| Equity | 75.02B |
| Short-term Debt | 13.29B |
| Long-term Debt | 2.65B |
| Trade Payables | 82.06B |
| Other Liabilities | 37.05B |
NCC Investment Snapshot
In summary, NCC Ltd. (NCC) presents the following picture for fundamental analysts.
Revenue of ₹22,355 Cr in FY2025, up 6.6% year-over-year.
Long-term revenue has been compounding at 8.9% annually over 10 years.
The company is profitable, with a net margin of 3.9% and net income of ₹868 Cr.
The P/E Ratio model implies 43.9% upside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
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