This Jhunjhunwala stock rises 5% as brokerages share price targets, outlook 

Shares of NCC Ltd gained over 5% on Monday after the infra firm reported its Q4 earnings. The company reported a year-on-year (YoY) net profit increase of 6% to Rs 253.8 crore for the fourth quarter ended March 31, 2025 against a net profit of Rs 239.2 crore reported in the same quarter last year. However, revenue from operations fell 5.5% YoY, totaling Rs 6,120.9 crore as compared to Rs 6,484.9 crore.

EBITDA climbed 1.1%, amounting to Rs 556.5 crore, up from Rs 550.3 crore in Q4FY24. The EBITDA margin also saw a slight increase, moving to 9% from 8.5% in the previous quarter.

For the full fiscal year FY25, NCC Ltd secured orders totaling Rs 32,888 crore (including changes in scope). The consolidated order book stands at Rs 71,568 crore, with Rs 6,247 crore attributed to standalone operations as of March 31, 2025.

The board recommended a dividend of Rs 2.20 (110%) per equity share with a face value of Rs 2 each for FY25, which is subject to approval from shareholders.

Late investor Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala owned 12.48% or 7.83 crore shares of NCC during the quarter ended December 2024

NCC stock rose over 5% to Rs 238.90 on Monday against the previous close of Rs 226.70 on BSE. Market cap of the firm stood at Rs 14,814 crore. Total 3.29 lakh shares of the firm changed hands amounting to turnover of Rs 7.71 crore on BSE. 

NCC share has lost 15.63% in six months and fallen 15.10% in a year. 

In terms of technicals, the relative strength index (RSI) of NCC stands at 59.2 signaling neither the stock is overbought or oversold on charts. The stock has a one-year beta of 1.8, indicating very high volatility during the period.

CLSA said the firm saw a good end to FY25 but guidance was mixed.

"FY26 guidance points to a slow pick-up in execution and margins, and this drives the 10%-12% cut in our FY26-27 EPS and our target price, from Rs 333 to Rs 315," said the foreign brokerage 

Terming the stock as an inexpensive play on water and smart infrastructure, the brokerage said NCC was trading at a PE of 11x (ex-subsidiary value) FY27CL, and with a FY25-27 EPS CAGR of 18.3%. 

JM Financial maintained a Buy call with a revised price target of Rs 285 (EPC business valued at 16x FY27E core EPS). 

"Despite robust order backlog and strong bid pipeline, NCC has guided for revenue growth of 10% for FY26E given the uncertain business environment. We believe it is conservative and have factored 13% growth in FY26E. NCC has guided for EBITDA margins of 9-9.25% for FY26E. It has received robust order inflows of Rs 329bn on consolidated basis (standalone: Rs 296 bn) in FY25. Standalone order backlog stands at Rs 625 bn (3.3x TTM revenues)," said JM Financial. 

"We have cut FY26/27E EPS by 14%/13% factoring lower revenue/margins and higher interest costs. We expect robust core EPS CAGR of 30% over FY25-27E. Maintain Buy with a revised price target of Rs 285 (EPC business valued at 16x FY27E core EPS)," added JM Financial.  

Nuvama trimmed its FY26E/27E EPS estimates by 4%/7%. and maintained a buy call with a target price of Rs 282 (17x Q4FY27E EPS).

"Order intake surged to Rs 329 bn in FY25 (against the initial guidance of Rs 200–220 bn). NCC ended the year with an order book of Rs 716 bn (book-to-bill of 3.3x); in addition, it is L1 in Rs 70– 80 billion projects. Management has guided for 10% YoY revenue growth in FY26E. Management indicated that execution could have been better, but for payment issues," said Nuvama. 

NCC Limited is engaged in construction/project activities in the infrastructure sector. The company is engaged in the infrastructure sector, primarily in the construction of industrial and commercial buildings, housing projects, roads, bridges and flyovers, water supply and environment projects, mining, power transmission lines, irrigation, and hydrothermal power projects, real estate development.