Noida Toll Bridge
Noida Toll Bridge
TransportKey Fundamentals
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Key Insights
Strengths
1- Company has delivered good profit growth of 21.8% CAGR over last 5 years
Weaknesses
2- Promoter holding is low: 26.4%
- Earnings include an other income of Rs.16.8 Cr.
Growth Rate
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 3.24 | 3.54 | 4.09 | 9.97 | 10 | 9.89 | 9.91 | 10.44 | 10.52 | 10.52 | 10.59 | 11.24 | 11.38 |
| Expenses | 3.02 | 3.96 | 3.47 | 6.64 | 6.59 | 7.06 | 6.55 | 6.74 | 6.79 | 7.8 | 7.56 | 8.68 | 7.27 |
| Operating Profit | 0.22 | -0.42 | 0.62 | 3.33 | 3.41 | 2.83 | 3.36 | 3.7 | 3.73 | 2.72 | 3.03 | 2.56 | 4.11 |
| OPM % | 6.79% | -11.86% | 15.16% | 33.4% | 34.1% | 28.61% | 33.91% | 35.44% | 35.46% | 25.86% | 28.61% | 22.78% | 36.12% |
| Other Income | 0.52 | 1.37 | 0.6 | 0.65 | 0.66 | 0.82 | -232 | 0.5 | 0.57 | 1.23 | 12.69 | 1.48 | 1.43 |
| Interest | 0.01 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 9.93 | 9.82 | 9.44 | 9.35 | 9.38 | 9.49 | 8.37 | 0.15 | 0.16 | 0.17 | 0.19 | 0.21 | 0.18 |
| PBT | -9.2 | -8.87 | -8.22 | -5.37 | -5.31 | -5.84 | -237 | 4.05 | 4.14 | 3.78 | 15.53 | 3.83 | 5.36 |
| Tax % | 0% | 0% | 0% | 0% | 0% | 0% | -0.01% | -0.25% | 0% | 0% | 0.32% | -0.52% | 0.37% |
| Net Profit | -9.19 | -8.87 | -8.22 | -5.37 | -5.31 | -5.84 | -237 | 4.06 | 4.14 | 3.77 | 15.48 | 3.85 | 5.32 |
| EPS in Rs | -0.49 | -0.48 | -0.44 | -0.29 | -0.29 | -0.31 | -12.74 | 0.22 | 0.22 | 0.2 | 0.82 | 0.21 | 0.28 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 123 | 130 | 87 | 16 | 20 | 25 | 13 | 16 | 24 | 21 | 40 | 43 | 44 |
| Expenses | 37 | 37 | 42 | 26 | 25 | 18 | 12 | 16 | 21 | 17 | 27 | 31 | 31 |
| Operating Profit | 87 | 93 | 45 | -9 | -5 | 7 | 1 | 0 | 3 | 4 | 13 | 12 | 12 |
| OPM % | 70% | 71% | 52% | -58% | -24% | 27% | 10% | -2% | 13% | 18% | 33% | 28% | 28% |
| Other Income | 8 | 3 | 2 | 1 | 0 | 5 | 1 | 1 | 3 | 3 | -230 | 16 | 17 |
| Interest | 8 | 3 | 6 | 7 | 8 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 2 | 32 | 38 | 42 | 43 | 42 | 42 | 42 | 41 | 39 | 27 | 1 | 1 |
| PBT | 84 | 61 | 3 | -57 | -56 | -30 | -40 | -41 | -35 | -32 | -244 | 27 | 28 |
| Tax % | 5% | -60% | 34% | 1% | -36% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
| Net Profit | 80 | 98 | 2 | -58 | -36 | -30 | -40 | -41 | -35 | -32 | -244 | 27 | 28 |
| EPS in Rs | 4.28 | 5.24 | 0.12 | -3.11 | -1.93 | -1.63 | -2.14 | -2.22 | -1.89 | -1.7 | -13.12 | 1.46 | 1.51 |
| Div. Payout % | 70% | 57% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 186 | 186 | 186 | 186 | 186 | 186 | 186 | 186 | 186 | 186 | 186 | 186 |
| Reserves | 314 | 322 | 290 | 232 | 197 | 166 | 126 | 85 | 50 | 18 | -226 | -199 |
| Borrowings | 0 | 42 | 55 | 62 | 68 | 67 | 67 | 67 | 67 | 67 | 43 | 43 |
| Other Liabilities | 157 | 84 | 61 | 76 | 64 | 62 | 65 | 66 | 80 | 77 | 80 | 76 |
| Total Liabilities | 658 | 634 | 593 | 557 | 515 | 481 | 444 | 404 | 383 | 348 | 83 | 107 |
| Fixed Assets | 572 | 553 | 518 | 497 | 466 | 424 | 382 | 341 | 300 | 262 | 2 | 3 |
| CWIP | 0 | 0 | 21 | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 22 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 85 | 59 | 54 | 50 | 49 | 57 | 62 | 62 | 83 | 86 | 80 | 104 |
| Total Assets | 658 | 634 | 593 | 557 | 515 | 481 | 444 | 404 | 383 | 348 | 83 | 107 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 69 | 71 | 33 | -3 | 1 | 10 | -1 | 3 | 24 | -4 | 15 | 37 |
| Investing | -1 | -13 | -32 | 2 | 0 | -9 | 0 | -2 | -24 | 3 | 9 | -39 |
| Financing | -78 | -38 | -27 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -24 | 0 |
| Net Cash Flow | -10 | 21 | -26 | -1 | 1 | 1 | -2 | 1 | 0 | -1 | 1 | -1 |
| Free Cash Flow | 68 | 59 | 1 | -6 | 1 | 10 | -1 | 1 | 24 | -4 | 15 | 36 |
| CFO/OP | 102 | 106 | 110 | 46 | -35 | 147 | -63 | -1,066 | 816 | -80 | 123 | 49 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 4 | 10 | 22 | 162 | 128 | 88 | 304 | 185 | 15 | 35 | 10 | 26 |
| Cash Conversion Cycle | 4 | 10 | 22 | 162 | 128 | 88 | 304 | 185 | 15 | 35 | 10 | 26 |
| Working Capital Days | -181 | -119 | -60 | -865 | -1,360 | -1,090 | -2,792 | -2,284 | -1,677 | -1,838 | -758 | -722 |
| ROCE % | 18% | 12% | 2% | -10% | -10% | -7% | -10% | -11% | -11% | -11% | -9% | 162% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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61 extracted metrics + investor summaries across FY12–FY26.
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Company Information
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]
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