1:2 bonus share & Rs 81,000 crore order book: Multibagger civil construction company bags new orders worth Rs 182.50 crore from Oil India Ltd & Indian Statistical Institute
The stock gave multibagger returns of 255 per cent in just 1 year whereas BSE Sensex is up by 26.3 per cent.
On Monday, shares of NBCC (India) Ltd-backed by the President of India & LIC; gained 0.64 per cent to Rs 187.55 per share from its previous closing of Rs 186.35 with an intraday high of Rs 192 and an intraday low of Rs 185.90. The company has a market cap of Rs 33,759 crore and has been maintaining a healthy dividend payout of 35 per cent.
In the normal course of business, NBCC (India) Limited announced the intimation of a work order valued at approximately Rs 182.50 crore. This project comprises two parts: the first, awarded by Oil India Limited, involves the execution of new works for the construction of modern facilities at their Oil Pipeline Headquarters (PHQ) in Guwahati, Assam. This includes two multi-story residential buildings (G+6), an office building, and a recreation center complete with a state-of-the-art auditorium. The second part of the order is from the Indian Statistical Institute Delhi Centre, Delhi, and involves the rehabilitation of their Platinum Jubilee Hostel.
Additionally, the Board of Directors of the company approved bonus shares in the ratio 1:2 i.e., 1 new fully paid-up equity share of Re 1 each for every 2 existing fully paid-up equity shares of Re 1 each to the eligible members of the company as on record date. The Board has fixed Monday, October 07, 2024, as the Record date to determine the eligibility of members to receive bonus shares.
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About NBCC (India) Ltd
NBCC (India) Limited, a prominent government-owned construction company under India's Ministry of Housing and Urban Affairs, offers a comprehensive suite of services across three key segments. Their project management consultancy (PMC) arm tackles civil construction projects for various sectors including residential, commercial, healthcare, and educational institutions. Additionally, they specialize in engineering, procurement, and construction (EPC) for complex structures like high-rise chimneys and cooling towers. Finally, NBCC (India) Limited is a major player in real estate development, building residential townships, apartments, commercial office spaces, and shopping malls. This diversified approach has positioned them as a leading construction enterprise in India.
Results
According to the Quarterly Results, the net sales increased by 11.32 per cent to Rs 2,144.16 crore and the net profit increased by 38.4 per cent to Rs 107.20 crore in Q1FY25 over Q1FY24. In its annual results, the net sales increased by 17.53 per cent to Rs 10,432.64 crore and the net profit increased by 49.54 per cent to Rs 414.27 crore in FY24 over FY24.
Order Book: The company's order book as of June 30, 2024, crosses Rs 81,000 crore. And the current year target is around Rs 10,000 crore turnover at the standalone and Rs 13,000 crore at the consolidated level
As of June 2024, the President of India owns a 61.75 per cent stake and the Life Insurance Corporation of India (LIC) owns a 5.96 per cent stake in the company. The stock gave multibagger returns of 255 per cent in just 1 year whereas BSE Sensex is up by 26.3 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.
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