NCC (500294) Q4 24/25 earnings summary

Executive summary

• Achieved record consolidated order inflow of ₹32,888 crore in FY25, surpassing guidance by 50%, with strong wins in buildings, T&D, and irrigation.

• Consolidated order book reached an all-time high of ₹71,568 crore as of March 31, 2025, ensuring robust revenue visibility.

• Consolidated revenue for FY25 grew to ₹22,355 crore, reflecting strong execution across business verticals and geographies.

• Consolidated PAT rose to ₹820 crore in FY25, up from ₹711 crore in FY24, driven by operational excellence and margin management.

• Entered FY26 with a strong bid pipeline, robust order backlog, and focus on margin improvement and sustainable growth.

Financial highlights

• Standalone revenue for FY25 was ₹19,392 crore, up 5.2% year-over-year; standalone PAT was ₹761 crore.

• Standalone EBITDA for FY25 was ₹1,746 crore (9.1% of revenue); EPS stood at ₹12.12.

• Consolidated revenue for FY25 was ₹22,355 crore, up 6.6% year-over-year; consolidated PAT was ₹820 crore (3.7% of revenue); EPS at ₹13.06.

• Net debt (consolidated) reduced to ₹605 crore; standalone net debt at ₹710 crore.

• Dividend declared at 110% (₹2.20/share), total outflow ₹139 crore, subject to shareholder approval.

Outlook and guidance

• FY26 revenue growth guidance at 10%, EBITDA margin expected between 9–9.25%.

• Order inflow guidance for FY26: ₹22,000–25,000 crore, including ₹7,000–8,000 crore of L1 orders.

• CapEx planned at ₹750 crore for FY26, including ₹300 crore for TBM for Mumbai tunneling project.