Can anyone suggest how to value NCC?
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Infra space is a cyclical sector to some extent. For NCC, business primarily depends on govt spending on infra
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A counter to above – If BJP is in power for next two terms, there will be considerable investment in this space and thus it presents excellent business opportunities
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NCC (EPC) has very low margins in general
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A counter to above – New projects are coming in at slightly better margins and higher order book helps in higher absolute profits
Just based on the above, how to value NCC?
What should be a reasonable PE?
What should be a reasonable Price to Book ratio?
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