NBCC (NBCC)

FairStock Score: 62/100 — STEADY

Score breakdown: P/E: 0/3 · ROCE: 2/2 · Growth: 0/2 · Dividend: 0/1

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look at NBCC through Graham's caution and Buffett's business lens. It is a civil construction PSU with ₹24,071 Cr market cap at ₹89.15. The balance sheet looks pristine: debt/equity 0.00, ROE 26.40%, ROCE 33.17%, and FCF ₹1,230 Cr. Latest quarter sales ₹3,022 Cr produced ₹197 Cr net profit. Profit growth 32.06% is encouraging, and promoter holding 61.75% aligns government ownership. Piotroski 7/9 and Altman 2.37 suggest reasonable financial footing, though Altman is not far from grey zone. FairStock Score 62/100 STEADY matches my impression: not a disaster, not a bargain. Yet the price asks a lot. Book value is ₹11.13, so P/B 8.01; Graham Number ₹22.36 implies margin of safety -314.46%; DCF intrinsic value ₹35.33. At ₹89.15, I am paying roughly 4x Graham's asset-based number and 2.5x DCF. P/E 32.42 and PEG 1.98 are not cheap for 5-year revenue CAGR of 8.28% and sales growth 9.03%. The 52-week range ₹73.90–₹125.85 shows the market can swing widely. Dividend yield 1.21% is modest compensation. Civil construction is cyclical and competitive, so a wide moat is doubtful; the main edge may be PSU project execution and order flow, not pricing power. The -867.52 EV/EBITDA is an outlier, probably distorted by cash or accounting, so I cannot rely on it. Verdict: quality has improved, debt-free, cash-generative, but valuation leaves no margin of safety. I would wait for a price closer to intrinsic value or evidence that profit growth converts into durable cash returns. Category: Cyclical. Watch order book, margins, cash conversion, and whether profit growth persists.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer