NCC reports decent performance

News: NCC reported a decent set of numbers during Q3FY22. Standalone revenue improved 40.9% YoY to Rs.2,703.9 crore backed by its strong order book position and pick-up in execution. EBITDA margin, however, moderated to 10.8%, down 165 bps YoY due to higher input costs. Consequently, EBITDA improved 22.4% YoY to Rs.292.8 crore. PAT stood at Rs.91 crore (up 29.4% YoY) with one off impairment of Rs.20 crore restricting the growth

Views:NCC has secured orders aggregating to Rs.4,027 crore during Q3FY22, which has kept its order book at an elevated level of Rs.40,210 crore as on Q3 end. Going forward, NCC is well poised on growth ahead given a) the strong order book position, b) expected pick-up in execution, c) debt reduction, and d) improvement in working capital cycle.

Impact: Positive