NCC posted an 8.5% drop in Q1 profit as softer demand and slow order execution hit revenue and margins.

• Q1 consolidated PAT fell to Rs 1.92 billion; revenue from operations declined 6.3% YoY to Rs 51.79 billion.
• Early monsoons and weak infra demand slowed execution; H2 FY26 is likely to see stronger order inflow.
• NCC trades at 13.38x PE; analysts maintain a “Buy” rating with 17.04% profit growth forecast over the next 12 months.