Q4 2026 NCC Ltd Earnings Call Transcript
Key Points
- NCC Ltd (BOM:500294) reported a consolidated order book of INR83,004 crore as of March 31, 2026, marking a 16% increase over the previous year and the highest in the company's history.
- The company achieved a consolidated EBITDA margin of 8.83% in Q4 FY26, indicating operational efficiency despite challenging market conditions.
- Debt levels have decreased significantly, with net debt reducing from INR2,830 crore at the beginning of the quarter to INR1,667 crore by the end of Q4 FY26.
- The company has successfully collected INR1,000 crore in receivables from UP JJM projects in Q4, improving its cash flow position.
- NCC Ltd (BOM:500294) has a diversified order book spread across seven verticals, providing resilience and multi-year revenue visibility.
- The company's revenue for the full year declined by 6% at the consolidated level and 9% at the stand-alone level compared to the previous year.
- NCC Ltd (BOM:500294) has not provided guidance for FY27 due to uncertainties in the market, indicating potential challenges in forecasting future performance.
- The EBITDA margin at the stand-alone level decreased to 8.44% in Q4 FY26 from 9.21% in the corresponding quarter of the previous year.
- The company faces challenges with working capital, with working capital days increasing to 97 days in Q4 FY26.
- There is a notable increase in finance costs, with interest on loans and mobilization advances contributing significantly to the total finance cost of INR645 crore for FY26.
Ladies and gentlemen, good day, and welcome to the NCC Limited Q4 FY26 earnings conference call hosted by JM Financial Services -- JM Financial Institutional Securities Limited. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Vaibhav Shah from JM Financial Institutional Securities Limited. Thank you, and over to you, sir.
Yeah. Thank you, Jitesh. On behalf of JM Financial, I welcome everybody to 4Q and FY26 earnings conference call of NCC Limited. We have from the management today, Shri R.S. Raju, Director of Projects; Shri Sanjay Pusarla, Executive Vice President, Finance and Accounts; and Shri Neerad Sharma, Head Strategy and Investor Relations.
Now I hand over the call to the management for their opening remarks, post which we can start with the Q&A session. Over to you, sir.
Thank you very much,
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