NCC bags a new order

NCC announced that the company had received a new order worth Rs 85 crore in the month of February, 2020.

The company also added that during the month, one order for Rs 1,550 crore pertaining to NBCC, Nauroji Nagar (New Delhi) has been reinstated after Delhi High Court judgement. The orders are for the building division and are received from central/state government agencies.

Previously, NCC had announced about receiving three new orders totalling to Rs 530 crore, which is exclusive of GST in the month of January 2020.

NCC has reported a weak performance for Q3FY20 owing to muted revenue growth-led by project cancellation and absence of convincing pick-up in construction activities post monsoon. The net sales for Q3FY20 decreased by 32.48 per cent YoY to Rs 2,281.40 crore and PBDT for Q3FY20 stood at Rs 114.88 crore as compared to Rs 308.32 crore. Subsequently, NCC gained a net profit of Rs 102.8 crore in Q3FY20, registering a degrowth of 39.21 per cent YoY which was a result of payment delays from projects. Comparatively, the company is still surrounded by a slow order inflow in the wake of the current ongoing economic slowdown.

On Monday, the stock of NCC closed at Rs 35.45, down by 0.42 per cent or Rs 0.15 per share. The 52-week high is Rs 119.15 and 52-week low is Rs 34.80 on BSE.