NCC Limited Q2 FY27 Revenue Rises 27.9% to ₹5,811.83 Crore

NCC Limited reported consolidated revenue of ₹5,811.83 crore for Q2 FY27, a 27.9% year-on-year increase for the quarter ended 30 September 2026. EBITDA stood at ₹528.46 crore and net profit attributable to shareholders increased 19.1% year on year to ₹184.29 crore, alongside the board's approval of the quarterly and half-yearly results.

What did NCC Limited report for Q2 FY27?

NCC Limited reported consolidated revenue of ₹5,811.83 crore in Q2 FY27, with EBITDA of ₹528.46 crore and an operating margin of about 9.1%. The company said net profit attributable to shareholders was ₹184.29 crore, representing year-on-year growth of 19.1%.

The results cover the three months ended 30 September 2026 and were approved along with the unaudited standalone and consolidated financial statements for the first half of FY27. Revenue growth was stronger than profit growth, while the stated EBITDA margin remained within the range relevant to the company's operating performance.

What did the NCC Limited board approve?

The NCC Limited board approved the unaudited standalone and consolidated results for Q2 FY27 and H1 FY27 at its meeting on 5 November 2026. The accounts relate to the quarter and half year ended 30 September 2026.

The company said its auditors issued an unmodified limited-review conclusion on the financial results. An unmodified conclusion indicates that the auditors did not identify a matter requiring a modification to their conclusion within the scope of the limited review.

The board also approved proposals concerning senior management appointments and the company's memorandum of association. These proposals are separate from the reported operating and financial performance for the September quarter.

Which governance proposals require shareholder approval?

NCC Limited proposed five-year reappointments of its Managing Director, Executive Director and Whole-time Director, subject to approval by members through a postal ballot. The board also proposed changes to the object clause of the memorandum of association, which will similarly require member approval.

A postal ballot allows shareholders to vote on specified resolutions without attending a physical general meeting. The filing does not state the final voting outcome, so these proposals remain subject to the shareholder approval process.

For investors, the disclosures distinguish between actions already approved by the board and resolutions that still need member consent. The reappointment proposals concern continuity in the company's executive leadership, while the object-clause proposal concerns its constitutional documents.

How does the Q2 result compare with NCC Limited's recent performance?

NCC Limited's Q2 revenue of ₹5,811.83 crore was close to the ₹5,842 crore consolidated revenue reported for Q1 FY27 in the supplied earnings-call summary. Q1 FY27 EBITDA margin was reported at 9.38%, compared with about 9.1% for Q2 FY27.

The company had reported a Q1 FY27 order book of ₹81,214 crore and stated guidance for FY27 order inflow of ₹22,000 crore to ₹25,000 crore. Its revenue-growth guidance for FY27 was 8% to 10%, with an EBITDA-margin range of 8.5% to 9%.

The Q2 revenue growth rate of 27.9% year on year is above that earlier full-year revenue-growth guidance range. However, quarterly growth and annual guidance are not directly comparable, and the company has not updated its full-year projections in the information provided.

What should NCC Limited investors monitor after the results?

NCC Limited investors can monitor management's discussion of execution, orders, collections and debt at the analyst and investor conference call scheduled for 6 November 2026 at 11:30 AM IST. JM Financial Institutional Securities Limited is hosting the call.

The company has stated that no unpublished price-sensitive information is proposed to be shared during the earnings call. The discussion is intended to address the unaudited Q2 FY27 and H1 FY27 results after the board meeting.

Earlier Q1 FY27 disclosures cited client fund approvals as a principal uncertainty for the business. The company also reported net debt of ₹3,513 crore in Q1, including ₹1,461 crore related to smart meter projects. These earlier figures provide context for investor questions on working capital, project execution and cash collections, though no updated Q2 debt figure is included in the supplied results information.

Conclusion

NCC Limited's Q2 FY27 filing shows consolidated revenue of ₹5,811.83 crore, up 27.9% year on year, while EBITDA was ₹528.46 crore and profit attributable to shareholders reached ₹184.29 crore. The board approved the September-quarter and first-half results, and the auditors issued an unmodified limited-review conclusion.

The next disclosed event is the analyst and investor call on 6 November 2026. Investors will also watch for the outcome of the postal-ballot process covering director reappointments and the proposed memorandum of association object-clause changes.