NCC reports mixed bag numberNCC - 62 Change: 0.25 (0.40 %)
News: NCC Ltd’s performance was a mixed bag. Standalone revenue during Q4FY22 improved 19.7% YoY to Rs. 3,134.3 crore backed by its strong order book position and pick-up in execution. Operating margin, however, moderated to 8.5%, down 255 bps YoY largely impacted due to higher input costs with rise in commodity prices. Consequently, operating profit declined 7.9% YoY to Rs. 266.9 crore. At net level, the company has reported 110.5% YoY growth in PAT (to Rs. 243.2 crore). However, the bottomline includes an exceptional gain of Rs. 134.5 crore. Adjusted for these, the company’s adjusted PAT has declined 5.9% YoY to Rs. 108.7 crore. On positive front, Debt has reduced to ~Rs. 1184 crore (down by ~Rs. 850 crore QoQ led by collections from debtors.
Views: NCC has secured orders aggregating to Rs. 9,922 crore during FY22 (including change in scope), which has kept its standalone order book at an elevated level of Rs. 36,303 crore as on March 31, 2022. Going forward, the company has guided for ~Rs. 15,000 crore of order inflows during FY23 with higher focus on buildings, water, roads, and metros segments. Revenues are expected to improve at ~10% in FY23 while EBITDA margin is likely to get moderated to 10% with rise in input costs.