Great earning acceleration lie ahead for the next 2-3 yrs
Basis management commentary and guidance on earnings ppt, Expect PAT to double from 650cr currently to ~1300cr in Fy25 and to cross 1650cr in Fy26 which for the CMP (Rs. 212) implies a PE multiple of 10 times on 1 year out earnings and a multiple of 8 times on 2 year out earnings.
For NCC, the PE multiple ascribed at cycle peaks crosses well over 22 times. Therefore, the stock has the potential to double in a couple of years at which point it would still trade at a very reasonable multiple of 16 times.