NCC (500294) Q4 25/26 earnings summary

Executive summary

• Consolidated order book reached ₹83,004 crore as of March 31, 2026, up 16% year-over-year, providing multi-year revenue visibility and marking the highest in company history.

• FY 2025-26 consolidated revenue was ₹20,944.40 crore, down 6% year-over-year, reflecting sector-wide funding stress.

• Major project completions included Silchar Medical College, Jabalpur Flyover, JPNI Airport Patna, Palamuru Reservoir, and World Trade Center Delhi.

• Dividend of ₹2.20 per share (110%) recommended for FY 2025-26, subject to shareholder approval.

• Major board changes include reappointment of a Whole-time Director, new senior management appointments, and election of a new Chairman.

Financial highlights

• Q4 FY 2026 consolidated turnover was ₹6,251 crore, up 1% year-over-year; full-year consolidated turnover was ₹20,944 crore, down 6% year-over-year.

• Standalone Q4 turnover was ₹5,382 crore, down 1% year-over-year; full-year standalone turnover was ₹17,669 crore, down 9% year-over-year.

• Consolidated EBITDA for FY 2025-26 was ₹1,836.08 crore (8.82% margin); PAT was ₹724 crore (3.46% margin); EPS was ₹10.76.

• Standalone EBITDA for FY 2025-26 was ₹1,448.34 crore; net profit was ₹576.76 crore; EPS was ₹9.19.

• Net debt at ₹2,815 crore; debt-equity ratio at 0.30.

Outlook and guidance

• No formal guidance provided for FY 2027 due to macroeconomic uncertainties, commodity price volatility, and payment cycle risks.

• Management will revisit guidance after Q1 FY 2027 if clarity improves.

• Book-to-bill ratio at 4x ensures strong visibility for future execution.

• Dividend of ₹2.20 per share recommended for FY 2025-26.