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 the highest in company history and strong multi-year revenue visibility.

• 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: ₹6,251 crore; full-year consolidated turnover: ₹20,944 crore; net profit attributable to shareholders: ₹675.32 crore; EPS: ₹10.76.

• Standalone Q4 turnover: ₹5,382 crore; full-year standalone turnover: ₹17,669 crore; net profit: ₹576.76 crore; EPS: ₹9.19.

• Consolidated EBITDA for FY 2025-26: ₹1,836.08 crore (8.82% margin); PAT margin: ~3.2%.

• Other income for FY 2026: ₹206 crore, mainly from interest and dividends, fully converted to cash.

• Order book at March 31, 2026: ₹83,004 crore consolidated, ₹72,259 crore standalone.

Outlook and guidance

• No revenue, margin, or order inflow guidance for FY 2027 due to high uncertainty in the operating environment; management will reassess after Q1 FY 2027.

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

• Payment cycles in water and state-funded segments expected to normalize, supporting margin recovery.