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Swing Capital

Noida Toll Bridge Company Ltd

NSE: NOIDATOLL BSE: 532481Infra

Incorporated in 1996, Noida Toll Bridge Company Ltd is set up to develop, establish, construct, operate and maintain a project relating to the construction of the Delhi Noida Toll Bridge[1]

₹4.31
52W: ₹2.76 — ₹5.65
PE 2.9 · Book ₹0.68 · +534% vs book
Market Cap₹80.2 Cr
Stock P/E2.9Price to Earnings
ROCE163%Return on Capital
ROE0%Return on Equity
Div. Yield0%Face Value ₹10

Strengths

  • +Company has delivered good profit growth of 21.7% CAGR over last 5 years

Weaknesses

  • −Promoter holding is low: 26.4%
  • −Earnings include an other income of Rs.15.9 Cr.

Shareholding Pattern

Promoters26.37%
FIIs0%
DIIs0.6%
Public67.67%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters26.37%26.37%26.37%26.37%26.37%26.37%26.37%26.37%
FIIs0%0%0.02%▲0.00%▼0.00%0%0%0%
DIIs0.68%0.63%▼0.10.63%0.63%0.63%0.63%0.6%▼0.00.6%
Public67.57%67.63%▲0.167.62%▼0.067.62%67.63%▲0.067.64%▲0.067.66%▲0.067.67%▲0.0

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales4.099.97109.899.9110.4410.5210.5210.5911.24
Expenses3.576.686.667.056.66.696.767.657.868.6
Operating Profit0.523.293.342.843.313.753.762.872.732.64
OPM %12.71%33%33.4%28.72%33.4%35.92%35.74%27.28%25.78%23.49%
Net Profit-8.33-5.42-5.39-5.82-237.184.14.173.8415.233.9
EPS ₹-0.45-0.29-0.29-0.31-12.740.220.220.210.820.21

AI Insights

Revenue Trend

Mar 2026 revenue at ₹43Cr, up 7.5% YoY. OPM at 28%.

Debt Position

Borrowings at ₹43Cr. Debt-to-equity ratio: N/Ax. High leverage — monitor closely.

Institutional Flow

DIIs: 0.6% (-1.06pp change). FIIs: 0% (+0.00pp change). Promoters hold 26.37%.

Margin & Efficiency

ROCE improving from 18% (Mar 2015) to 163% (Mar 2026). Working capital days: -720.

Valuation

PE 2.9x with 163% ROCE. Price is 534% above book value of ₹0.68. Dividend yield: 0%.

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