NCC Ltd (NCC) Q2FY26 Concall Summary - Sep-2025 Qtr
Performance Overview
- NCC Ltd/India reported a decline in turnover for Q2 FY26 and H1 FY26, primarily due to an unprecedented extended monsoon season and elongated payment cycles from clients, particularly in water projects.
- The company has decided to withdraw its guidance for FY26, citing the challenging external business environment and payment delays, with an update expected by March 2026.
- Despite execution challenges, the order book remains robust, standing at 71,957 crore as of September 30, 2025, indicating strong future revenue potential once execution hurdles are resolved.
- New order inflows for the quarter were healthy at 6,223 crore, mainly driven by the buildings, water, and irrigation divisions, with cumulative H1 FY26 inflows at 9,881 crore.
- Consolidated EBITDA margin for Q2 FY26 stood at 8.66%, showing resilience despite the revenue decline, while standalone EBITDA margin saw a decrease to 7.45%.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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