NCC stock zooms ~3% on bagging order worth Rs 2,088 crore

2 Jun 2023 , 12:07 PM

In Friday’s trading session, the stock of NCC Limited zoomed as much as 3% to Rs 126.45 against its previous close of Rs 123 on NSE. The company announced that it has received orders worth Rs 2,088 crore in the month of May 2023.

The company said that out of total orders of Rs 2,088 crore, its Building Division has received the orders for an aggregate amount of Rs 1,668 crore. NCC’s Water Division bagged orders worth Rs 420 crore.

The company further highlighted that it has received these orders from State Government Agencies and does not include any internal orders.

Earlier in the month of April 2023, NCC received 6 new orders totaling Rs 3,344 crore (excluding GST). NCC’s order book at the end of FY23 was Rs 50,244 crore (3.8x order book to TTM bill ratio). The current order book provides strong visibility, resulting in an 18% topline CAGR over FY23-25, as well as margin improvement.

The company expects to reduce debt by another Rs 200 crore by the end of FY24 while incurring capex of Rs 280 crore.

At around 12.02 PM, NCC was trading 1.63% higher at Rs 125, against the previous close of Rs 123 on NSE.

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