Jhunjhunwala stock with 110% dividend set for 27% upside after Q4 results - Target price  

Shares of NCC Ltd are set for a 27% upside post Q4 earnings, according to brokerage Nuvama. The infra firm reported a 19% fall in its Q4 net profit to Rs 206 crore against Rs 253.8 crore in a year ago. Late investor Rakesh Jhunjhunwala's wife Rekha Jhunjhunwala owned 12.48% stake or 7.83 crore shares of NCC during the quarter ended March 2026.

However, revenue rose 1.7% year-on-year to Rs 6,232.7 crore compared with Rs 6,130.9 crore in the corresponding quarter of the previous year. EBITDA fell 1.1% year-on-year to Rs 550.4 crore in Q4 from Rs 556.3 crore, while EBITDA margin stood at 8.8% against 9.1% in the year-ago period.

On a full-year basis, the company’s order book grew 16% to Rs 83,004 crore compared with Rs 71,568 crore in FY25. 

The company's board recommended a dividend of Rs 2.20 per equity share of face value Rs 2, equivalent to 110%. The dividend is subject to approval at the upcoming Annual General Meeting. The company fixed Friday, August 14, 2026, as the record date for determining eligible shareholders for the dividend.

In the current session, NCC shares ended 4.56% lower at Rs 152.65 against the previous close of Rs 159.95. Market cap of the firm stood at Rs 9,584 crore. 

In terms of technicals, the relative strength index (RSI) of NCC stands at 50.7 signaling neither the stock is overbought or oversold on charts.

Nuvama assigned a price target of Rs 203 on the NCC stock against the previous target of Rs 181. 

The brokerage said order inflows were robust end-FY26 with the order book at Rs 83,000 crore (book-to-bill of 4.1x). "Payments have started coming in Q4FY26, leading to execution ramping up, working capital cycle improving 29 days QoQ to 115 days and net debt declining Rs 1070 crore QoQ. While robust order inflows are positive, margins, payment cycle and execution remain key stock monitorable. We slash FY27E/28E EPS by 4%/4% considering likely margin pressure due to geopolitical issues. Maintain ‘BUY’ with a revised TP of Rs 203 (Rs 181 earlier) based on 15x Q4FY28E EPS," said the brokerage. 

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.