Q4 2024 NCC Ltd Earnings Call Transcript
Key Points
- NCC Ltd (BOM:500294) reported a 37% growth in standalone revenue for FY24, driven primarily by the buildings and electrical divisions.
- The company achieved a 15% increase in its order book, closing at INR 57,536 crores, surpassing its target of INR 26,000 crores in new orders.
- Significant improvement in working capital days from 102 to 76 days, the lowest in a decade.
- NCC Ltd (BOM:500294) received an enhanced credit rating of AA- from Care Ratings, which is expected to reduce costs for term loans, working capital loans, BGs, and LCs.
- The company successfully settled several long-standing disputes, including the Sembcorp and TAQA settlements, clearing historical claims and improving financial clarity.
- Gross profit margin declined from 15.8% to 14.2% in Q4 FY24, indicating pressure on profitability.
- EBITDA margin decreased from 10% to 9.4%, reflecting increased competition and cost pressures.
- The company anticipates potential impacts on order booking and business progress due to upcoming general and state elections.
- Despite improved collections, the debt level increased slightly by INR 25 crores, standing at INR 1,005 crores at the end of FY24.
- The company has provided a conservative guidance for FY25, with expected order bookings of INR 20,000 to 22,000 crores and a topline growth of 15%, lower than the previous year's growth.
Ladies and gentlemen, good day, and welcome to Q4 and FY24 results conference call of NCC Limited, hosted by JM Financial. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Vaibhav Shah from JM Financial. Thank you, and over to you, Mr. Shah.
Thank you, Manav. On behalf of JM Financial, I welcome everybody to the Q4 and 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, Strategy and Investor Relations.
So I hand over the call to the management now for their opening remarks, after which we can begin the Q&A. Over to you, sir.
Hi. Good evening, everyone. At the very outset, I thank each of you for taking out time to attend this interactive meeting
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