Investor presentationOct 2026
Oct 2026 · PPT
Source: Bse
LCC Projects Limited (LCCPROJECT)
Micro CapInfra stocks · Micro cap · NSE
LCC Projects Limited is a multidisciplinary engineering, procurement, and construction (EPC) company based in Gujarat, India. It specializes in executing complex irrigation, water supply, and infrastructure projects such as dams, canals, pipe distribution networks, metro rail, and mining works across 12 states.
₹135.28
-1.22 · -0.89%
Market cap ₹3,812 Cr
Data qualityFresh enough for analysisQuote updated 04 Nov, 03:31 pm ISTDetails
Quote04 Nov, 03:31 pm IST
Base fundamentals02 Nov 2026 · screener
Latest result30 Oct, 06:22 pm IST
Score05 Nov, 04:30 am IST · v4.3-runtime-valuation
Tags20 Sept 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Infra P/E 15.3 (n=87)
Technical timing lens
Trend score and candlestick chart
52Neutralsector +2.6pp vs Nifty 500 (3M)
Stock trend: 49
Sector RS: 58
Sector 3M: -1.4% vs Nifty 500 -4.1%
Infra FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
LCCPROJECTD candles · FIT view-20.5%Latest close ₹135.28 on 2026-11-04
Daily history is available from 2026-09-17; the requested 1Y window is partially covered.
Bar
-0.9%
RSI
43
MACD hist
-
52W pos
25%
2026-11-04O ₹136.50H ₹137.09L ₹134.00C ₹135.28Vol 1.1L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
LCCPROJECTNifty InfraNifty 500
- LCCPROJECT
- -20.5%
- Nifty 500
- +0.5%
- Nifty Infra
- +3.9%
- Vs Nifty 500
- -21.0 pp
Chart stats
4 Nov 2026- From 52W high
- -28.4%
- 52W range position
- 25%
- ATR (14)
- 5.0%
- Volume vs 20D
- 0.19x
- Avg traded value
- ₹7.1 Cr
- 20D price channel
- ₹117.1 - ₹150.4
₹189
₹117.1 - ₹189
₹6.8
Latest completed session
20-session average
37.8% annualized volatility
Research snapshot
What the evidence says now
Strong fundamentals, management trust is not scored yet, price trend is neutral, and result consistency is still building.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · DEEP VALUE75
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Neutral52
Price trend and sector-relative-strength timing.
Valuation
Legacy model+43.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
pending—
Management reliability not computed yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Sept 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 30 Oct 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹885.7 Cr | NDF | +10.3% |
| EBITDA | ₹136.9 Cr | NDF | +15.1% |
| Operating margin | 15.5% | NDF | +46 bps |
| PAT | ₹77 Cr | NDF | +16.6% |
| PAT margin | 8.7% | NDF | +47 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 13.40
- P/B
- 3.02
- EV/EBITDA
- 8.91
- Market Cap
- 3812.00Cr
Profitability
- ROE
- 38.00%
- ROCE
- 30.60%
- ROA
- 9.84%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 43.24%
- EPS 5Y
- 61.42%
- Revenue 3Y
- 43.00%
- EPS 3Y
- 61.00%
Balance Sheet
- Debt/Equity
- 0.70
- Interest Coverage
- 5.02×
- Altman Z
- 3.88
- Book Value
- 43.70
Cash Flow
- FCF Yield
- 1.34%
- FCF Positive Y
- 1/5
- OCF
- 158.00 Cr
- EPS TTM
- 10.42
Shareholding
- Promoter Hold
- 89.90%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 20%
Financial History
Updated 4/11/2026
Revenue
₹ CrLatest: 886+10.3% vs prev
Net Profit
₹ CrLatest: 77.0+16.6% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
NeutralTrend is undirectional — long-term trend unclear. RSI 43.
- RSI(14) at 43 — rising, no extreme reading.
- 28% off 52W high · 16% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
-
RS percentile
Insufficient history
1M return
-8.0%
3M return
-
6M return
-
1Y return
-
RS 1D
-
RS 20D
-
Sector rank
#18
Industry rank
-
Stage evidence
- At least 170 daily sessions are required for the trend-stage read.
50-DMA
unavailable
200-DMA
unavailable
Sector
lagging
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
32 observations
03 Nov 2026Value 80.73+1.27%
RS vs Nifty 50081
Valuation & peers
U-Score 75 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 75 · legacy U-Score band DEEP VALUE · valuation evidence and comparable companies
Top Setup
Fundamental score breakdown
U band · DEEP VALUEValuation16/30
Growth24/25
Quality20/20
Balance Sheet8/15
Cash Flow2/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
75
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
75/100 · legacy band DEEP VALUE
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 43.4%.
- Quality contributes 20/20 to the score.
Main drags
- Cash flow is weaker at 2/10; verify the latest quarterly trend.
- Valuation is weaker at 16/30; verify the latest quarterly trend.
- Balance sheet is weaker at 8/15; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
13.4
PB
3.0
EV/EBITDA
8.9
ROE
38.0%
ROCE
30.6%
FCF Yield
1.3%
Debt/Equity
0.7
MoS
+43.4%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 05 Nov 2026
v4.3-runtime-valuation
Final score
75
Previous: 75
Legacy U-Score band
DEEP VALUE
Previous: DEEP VALUE
Margin of safety
+43.4%
Previous: +43.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
05 Nov 2026
v4.3-runtime-valuation
75
75
75
75
75
75
75
75
75
75
75
75
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹101.22
-33.6% MoS
Growth-justified P/E
22.9
Growth-justified Value
₹239.14
+43.4% MoS
PEG
0.22
Comparable companies
Peers
Business-comparable peers in Infra — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
ANNU
Micro
Annu Projects Limited
Construction
match 100
66
11.9
21.6%
+60%
UNDERVALUED
NBCC
Small
NBCC (India) Limited
Construction
match 40
46
27.5
20.4%
-24%
FAIR VALUE
GLASSWALL
Micro
Glass Wall Systems (India) Limited
Other Construction Materials
match 26
61
23.2
37.7%
-8%
UNDERVALUED
AHLUCONT
Micro
Ahluwalia Contracts (India) Limited
Construction & Engineering
match 22
57
15.7
13.8%
+31%
FAIR VALUE
SWSOLAR
Micro
Sterling and Wilson Renewable Energy Limited
Solar EPC
match 20
52
13.8
40.1%
+25%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-11-04T04:40:56.302Z
Management commentary snapshot
Robust 34% YoY growth in Q2 FY27 execution and 58% PAT surge despite monsoon disruptions, supported by healthy working capital management and strong non-fund based limit headroom.
The investment thesis remains intact. Execution momentum continues robustly with 34% YoY top-line growth in Q2 FY27, backed by an expanding order book of ₹81,540 million (approx 2.21x book-to-bill). Working capital days improved to 40 days, and profitability expanded with EBITDA and PAT margins improving year-on-year, demonstrating disciplined project selection and execution capabilities.
Current business mix
Revenue by Irrigation & Water Supply Projects
Latest issuer-disclosed distribution across 2 reported categories.
Irrigation & Water supply projects73.5%
Other Projects26.5%
Growth engines
Strong Order Book Backlog
Order Book stood at ₹81,540 million as of September 30, 2026, comprising more than 100 projects and providing strong multi-year revenue visibility.
Robust L1 Position
The company holds a strong L1 position for projects worth ₹15,828 million as of September 30, 2026.
Geographical Expansion
Active presence across 12 states with planned expansion into new states including Bihar and Goa.
Tailwinds
Government Irrigation Schemes
Strong government push and financial outlays under PMKSY, Jal Jeevan Mission, and Accelerated Irrigation Benefit Programme (AIBP).
Headwinds
Seasonal Monsoons
Monsoon periods cause temporary seasonal disruptions to construction and site execution activities.
Risk radar
Working Capital and Receivables
Trade receivables stand at ₹6,737 million as of September 30, 2026, up from ₹4,558 million as of March 31, 2026.
Execution and Cost Overruns
Project execution is subject to risks like time and cost overruns, changing site conditions, and regulatory compliance.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The business is subject to seasonal disruptions like monsoons affecting quarterly execution cadence, making year-on-year comparisons of revenue and profitability most meaningful.
Sector KPIs management disclosed
Order Inflow
PositiveOrder booking in H1 FY27 stood at ₹16,413 million.
Order Book and Revenue Cover
PositiveOrder Book stood at ₹81,540 million as on September 30, 2026, representing approximately 2.21x order book to revenue ratio.
Execution and Revenue
PositiveRevenue from Operations grew by 34% YoY to ₹8,857 million in Q2 FY27 and reached ₹16,883 million for H1 FY27.
Margin
PositiveQ2 FY27 EBITDA margin improved to 15.5% (from 14.2% in Q2 FY26) and PAT margin expanded to 8.6% (from 7.3% in Q2 FY26).
Management forward view
Disciplined Execution Strategy
Management attributes healthy 58% PAT growth in Q2 FY27 to disciplined project selection and execution strategy.
Headroom in Non-Fund Limits
Over 35% of non-fund based limits remain unutilized, enhancing capacity to bid for larger projects.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Working Capital Days | 40 days as of Sep 30, 2026 | Sustenance of working capital cycle and control over trade receivables growth. |
| Order Book Conversion | ₹81,540 million order book | Conversion of L1 pipeline (₹15,828 million) into firm orders and execution pace. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
Trust profile pending
Trust asks a simple question: can investors rely on management behaviour and financial delivery? Trust Lite uses promoter alignment, cash conversion, leverage, and result consistency. Full transcript-based claim matching appears after enough documents are ingested.
Continue researching LCC Projects Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationOct 2026
Oct 2026 · PPT
Source: Bse
Investor presentation
Investor presentation · LCC Projects Limited has informed the Exchange about Investor Presentation
Source: Bse
Investor presentationSep 2026
Sep 2026 · Investor presentation · LCC Projects Limited has informed the Exchange about Investor Presentation
Source: Nse
Announcement
Announcement under Regulation 30 (LODR) - Bagging/receiving of order(s) or contract(s) 16 Oct - Received tender acceptance for 151.57 crore EPC water-supply project in Gujarat, with 10-year O&M.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Oct - LCC Projects Limited has informed about Copy of Newspaper Publication of Un-audited Standalone and Consolidated Financial Results of the Company for the quarter ended June …
Source: Bse
Investor presentation
Investor presentation · LCC Projects Limited has informed the Exchange about Investor Presentation
Source: Nse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release (Revised) 30 Oct - Q2 FY27 revenue rose 34% to ₹8,857 mn; H1 PAT ₹1,427 mn; order book ₹81,540 mn.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Press Release / Media Release 30 Oct - Q2 FY27 revenue rose 34% to ₹8,857 mn; PAT up 58%, order book at ₹81,466 mn.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Monitoring Agency Report 30 Oct - CARE report for quarter ended September 30, 2026 shows ₹42.66 crore utilized, no deviations.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.