Noida Tollbridg. (NOIDATOLL)

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

Key Financials

AI Analysis

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

Let me start with what I like. Noida Tollbridg is selling at ₹3.84, against a book value of ₹10.41. That is a price-to-book of 0.37. In the simplest Graham sense, the market is offering a rupee of stated net worth for just 37 paise. The reported P/E is 2.54, and the ROE is 14.15%. On those metrics alone, it looks statistically cheap. But I did not build a fortune on ratios alone; I look for a business that can genuinely earn its cost of capital. Here the alarm bells ring: ROCE is minus 8.55%. That tells me the underlying road asset may not be earning its keep operationally. The positive ROE and a quarterly net profit of ₹15 crore against sales of only ₹11 crore suggest the bottom line is being propped up by something other than toll collection. I cannot ignore that. The 431% profit growth and PEG of 0.01 are statistical artifacts, not a moat. With zero dividend and promoters holding only 26.37%, this is not a compounder run with minority shareholders firmly in mind. Debt/equity is unavailable, so I cannot fully judge leverage risk. The Piotroski score of 6/9 keeps it from being a complete wreck, but Graham would demand hard evidence of durable earning power before treating book value as a floor. This is a deep value asset play candidate only for those who understand that a toll road concession is not a liquid asset. If that ₹15 crore profit is not repeated, today's price may be fair rather than cheap.

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