At the same time, NCC is in a much better position than ever so far
They have consistently brought down the debt levels
They have sold off most of their non core business and is focussing primarily on core business (more than 90% of the revenue, the remaining in mines & realty)
Unlike the inefficient planning & execution of 2007/08 infrastructure projects from the then government, the current govt seems to be good in planning & execution of the same (at least so far and I hope it continues at least for next 5 - 10 years
If NCC had a PE multiple of around 14 earlier, should the above mentioned positives warrant a better valuation multiple?
(Al though, I personally feel Price to book is a better mechanism for EPC companies as they don’t have much assets)
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