Q3 2023 NCC Ltd Earnings Call Transcript
Key Points
- NCC Ltd (BOM:500294) reported a 41% year-on-year revenue growth in Q3 FY24, driven primarily by buildings and electrical divisions.
- The company posted a 42% increase in PAT (Profit After Tax) for Q3 FY24 compared to the corresponding quarter of the previous year.
- NCC Ltd (BOM:500294) has a robust order book of INR 57,440 crores, with a target to achieve INR 26,000 crores in orders for the current year.
- The company has shown significant improvement in working capital management, reducing working capital days from 194 days in FY21 to 92 days by the end of December '23.
- NCC Ltd (BOM:500294) has secured new projects, including smart meter projects and UP Jal Jeevan projects, contributing significantly to the company's top line.
- The change in government in states like Telangana, Rajasthan, Chhattisgarh, and Madhya Pradesh has caused delays in order bookings and execution processes.
- The gross profit margin for the nine months period decreased to 14% from 16% in the previous year.
- The company's debt position remains high, with an expected debt level of INR 1,300 crores to INR 1,500 crores by the end of the fiscal year.
- There are ongoing legal disputes, including arbitration with Sembcorp and settlement discussions with TATA, which could impact financials.
- The company's exposure to the Dubai real estate project remains uncertain, with an investment of INR 220 crores and potential delays in monetization.
Ladies and gentlemen, good day, and welcome to the NCC Limited Q3 FY24 earnings conference call hosted by JM Financial.
(Operator Instructions) Please note that this conference is being recorded.
And I now hand the conference over to Mr. Vaibhav Shah from JM Financial. Thank you, and over to you, sir.
Thank you. Rio. On behalf of JM Financial, I welcome everybody to Q3 and nine-month FY24 earnings conference call of NCC Limited. We have from the management today, Shri R. S. Raju Director, projects; Shri Sanjay Pusarla, Executive Vice President, Finance and Accounts; and Shri Neerad Sharma, Head of Strategy and Investor Relations. So I hand over the call to the management now for their opening remarks. After which, we'll take up the question-and-answer session. Thank you, and over to you, sir.
Thank you, Mr. Vaibhav Shah. Good evening, ladies and gentlemen. A warm welcome to all of you into the Q3 FY24 investors earning
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