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Hold NBCC; target of Rs 40: ICICI Direct


ICICI Direct recommended hold rating on NBCC with a target price of Rs 40 in its research report dated August 16, 2019.

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ICICI Direct's research report on NBCC

NBCC’s consolidated topline grew 2.0% YoY to Rs 1,891.1 crore, lower than our estimate of Rs 2,544.1 crore. EBITDA margins contracted 220 bps YoY to 1.4% in Q1FY20 due to a sharp contraction in real estate margins. PAT de-grew 33.2% YoY to Rs 48.9 crore mainly on account of lower topline growth and sharp EBITDA margin contraction.

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