Views on NCC Ltd 2QFY2016 Results: Angel Broking

Views of Mr. Santosh Yellapu (Sr. Research Analyst - Infrastructure, Angel Broking) on NCC Ltd 2QFY2016 Results:

NCC reports better set of numbers

For 2QFY2016, NCC reported numbers ahead of our expectations. The company reported a top-line of INR 2,067cr, ahead of our estimate of INR 1,979cr. On the operating front, NCC reported an EBITDA margin of 8.8%, ahead of our expectation of 8.5%. In-line with the EBITDA margin movement, the PAT margin, at 2.6%, is also ahead of our expectations (of 2.2%).

NCC reported order inflows of INR 2,293cr for 1HFY2016 (reflecting order wins to the tune of INR 1.015cr in 2QFY2016). Also, in the current quarter (3QFY2016), the company has reported an order inflow of INR 2,058cr, thereby taking the total orders inflow for YTDFY2016 to INR 4,351cr. Accordingly, the order book of the company currently stands at INR 1,955cr (reflecting order book to LTM ratio of 2.3x).

Shares of NCC Limited was last trading in BSE at Rs.75.35 as compared to the previous close of Rs. 76.95. The total number of shares traded during the day was 1672713 in over 9224 trades.

The stock hit an intraday high of Rs. 78.25 and intraday low of 74.15. The net turnover during the day was Rs. 127489789.

Source : Equity Bulls

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