Moneycontrol Be a Pro
Get App
Last Updated : Feb 25, 2019 04:11 PM IST | Source:

Buy NCC; target of Rs 120: ICICI Direct

ICICI Direct is bullish on NCC has recommended buy rating on the stock with a target price of Rs 120 in its research report dated February 13, 2019.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on NCC

NCC’s topline grew at a robust 74.3% YoY to Rs 3226.5 crore (our estimate: Rs 2751.6 crore) on account of strong execution in Q3FY19 EBITDA margins contracted 162 bps YoY to 12.2% on account of Rs 73 crore one-off during Q3FY18. Adjusting for this, the EBITDA margin expanded 192 bps YoY and was above our estimate of 11.5% Reported PAT grew robustly by 59.7% YoY to Rs 160.2 crore (our expectation: Rs 122.1 crore) led by strong topline growth and EBITDA margin expansion.


Consequently, we expect PAT to grow at a robust 29.2% CAGR to Rs 656.9 crore in FY18-20E. Hence, we maintain our BUY recommendation with a target price of Rs 120/share.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Feb 25, 2019 04:11 pm
Follow us on
Available On
PCI DSS Compliant