Strong execution capabilities, healthy order book and inexpensive valuations are key reasons why analysts are bullish on NCC. The company posted mixed set of results for the September 2021 quarter.
While revenues came in ahead of estimates, EBITDA margin was impacted by high input cost inflation. Continued volatility in prices of key inputs and the fact that about 72% of the order book has index-linked price variation clauses, NCC’s margins could continue to witness some pressure in the future.
Nonetheless, management is confident of achieving 20-25% growth in FY22. Analysts, on the other hand, believe NCC’s revenues could grow by 35% in FY22 on the back of its healthy order book (Rs. 391 billion). Stock could reach levels of Rs. 114 apiece over the next 12 months.
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