New Risk • Jun 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 9.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (1.5x net interest cover). Minor Risks Share price has been volatile over the past 3 months (9.2% average weekly change). Market cap is less than US$100m (₹1.82b market cap, or US$19.1m). Valuation Update With 7 Day Price Move • Jun 10
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹18.01, the stock trades at a trailing P/E ratio of 23.5x. Average trailing P/E is 14x in the Transportation industry in India. Total loss to shareholders of 6.7% over the past three years. Reported Earnings • May 31
Full year 2026 earnings released: EPS: ₹0.78 (vs ₹1.03 in FY 2025) Full year 2026 results: EPS: ₹0.78 (down from ₹1.03 in FY 2025). Revenue: ₹3.14b (down 4.4% from FY 2025). Net income: ₹77.5m (down 24% from FY 2025). Profit margin: 2.5% (down from 3.1% in FY 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 10% per year. Announcement • May 25
North Eastern Carrying Corporation Limited to Report Q4, 2026 Results on May 29, 2026 North Eastern Carrying Corporation Limited announced that they will report Q4, 2026 results at 3:30 PM, Indian Standard Time on May 29, 2026 Announcement • May 01
North Eastern Carrying Corporation Limited announced that it expects to receive INR 68.31 million in funding North Eastern Carrying Corporation Limited announced a private placement to issue 4,500,000 shares at an issue price of INR 15.18 per share for gross proceeds of INR 68,310,000 on April 30, 2026. The transaction will include participation from new investor Sunil Kumar Jain. The transaction has been approved by shareholders. Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹12.75, the stock trades at a trailing P/E ratio of 14.5x. Average trailing P/E is 15x in the Transportation industry in India. Total loss to shareholders of 27% over the past three years. New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (₹1.20b market cap, or US$12.9m). Reported Earnings • Feb 07
Third quarter 2026 earnings released: EPS: ₹0.34 (vs ₹0.20 in 3Q 2025) Third quarter 2026 results: EPS: ₹0.34 (up from ₹0.20 in 3Q 2025). Revenue: ₹733.5m (down 9.5% from 3Q 2025). Net income: ₹34.5m (up 78% from 3Q 2025). Profit margin: 4.7% (up from 2.4% in 3Q 2025). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 9% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Announcement • Jan 29
North Eastern Carrying Corporation Limited to Report Q3, 2026 Results on Feb 06, 2026 North Eastern Carrying Corporation Limited announced that they will report Q3, 2026 results on Feb 06, 2026 New Risk • Nov 21
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.4% Last year net profit margin: 3.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.0x net interest cover). Minor Risks Profit margins are more than 30% lower than last year (2.4% net profit margin). Market cap is less than US$100m (₹2.06b market cap, or US$23.3m). Announcement • Nov 05
North Eastern Carrying Corporation Limited to Report Q2, 2026 Results on Nov 14, 2025 North Eastern Carrying Corporation Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Announcement • Aug 08
North Eastern Carrying Corporation Limited, Annual General Meeting, Sep 26, 2025 North Eastern Carrying Corporation Limited, Annual General Meeting, Sep 26, 2025. Reported Earnings • Aug 08
First quarter 2026 earnings released: EPS: ₹0.18 (vs ₹0.38 in 1Q 2025) First quarter 2026 results: EPS: ₹0.18 (down from ₹0.38 in 1Q 2025). Revenue: ₹692.5m (down 11% from 1Q 2025). Net income: ₹17.8m (down 52% from 1Q 2025). Profit margin: 2.6% (down from 4.7% in 1Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has fallen by 4% per year. Announcement • Aug 02
North Eastern Carrying Corporation Limited to Report Q1, 2026 Results on Aug 07, 2025 North Eastern Carrying Corporation Limited announced that they will report Q1, 2026 results on Aug 07, 2025 Reported Earnings • May 29
Full year 2025 earnings released: EPS: ₹1.03 (vs ₹0.84 in FY 2024) Full year 2025 results: EPS: ₹1.03 (up from ₹0.84 in FY 2024). Revenue: ₹3.29b (down 1.7% from FY 2024). Net income: ₹102.5m (up 28% from FY 2024). Profit margin: 3.1% (up from 2.4% in FY 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Announcement • May 21
North Eastern Carrying Corporation Limited to Report Q4, 2025 Results on May 28, 2025 North Eastern Carrying Corporation Limited announced that they will report Q4, 2025 results on May 28, 2025 New Risk • Mar 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (₹2.29b market cap, or US$26.3m). Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹19.72, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 19x in the Transportation industry in India. Total returns to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹23.62, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 21x in the Transportation industry in India. Total returns to shareholders of 29% over the past three years. Reported Earnings • Feb 02
Third quarter 2025 earnings released: EPS: ₹0.20 (vs ₹0.26 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.20 (down from ₹0.26 in 3Q 2024). Revenue: ₹810.8m (down 5.3% from 3Q 2024). Net income: ₹19.4m (down 23% from 3Q 2024). Profit margin: 2.4% (down from 2.9% in 3Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Jan 22
North Eastern Carrying Corporation Limited to Report Q3, 2025 Results on Jan 31, 2025 North Eastern Carrying Corporation Limited announced that they will report Q3, 2025 results on Jan 31, 2025 Valuation Update With 7 Day Price Move • Jan 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₹31.83, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 24x in the Transportation industry in India. Total returns to shareholders of 75% over the past three years. New Risk • Dec 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (21% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (7.5% average weekly change). Shareholders have been diluted in the past year (4.8% increase in shares outstanding). Market cap is less than US$100m (₹3.61b market cap, or US$42.2m). Announcement • Dec 03
North Eastern Carrying Corporation Limited Appoints Rakesh as Company Secretary and Compliance Officer North Eastern Carrying Corporation Limited announced that based on the recommendation of Nomination and Remuneration Committee, the Board of Directors of the Company at its meeting held on December 3, 2024, approved the appointment of Mr. Rakesh as the Company Secretary and Compliance Officer (Key Managerial Personnel) of the Company with effect from December 3, 2024. Mr. Rakesh is an Associate member of the Institute of Company Secretaries of India and Post Graduate in Commerce. He has over 5 years of experience in dealing with Secretarial Compliances of Listed, Public and Private Companies. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹33.93, the stock trades at a trailing P/E ratio of 33.9x. Average trailing P/E is 32x in the Transportation industry in India. Total returns to shareholders of 90% over the past three years. Announcement • Oct 26
North Eastern Carrying Corporation Limited to Report Q2, 2025 Results on Oct 30, 2024 North Eastern Carrying Corporation Limited announced that they will report Q2, 2025 results on Oct 30, 2024 Announcement • Sep 10
North Eastern Carrying Corporation Limited, Annual General Meeting, Sep 30, 2024 North Eastern Carrying Corporation Limited, Annual General Meeting, Sep 30, 2024, at 13:00 Indian Standard Time. Announcement • Aug 01
North Eastern Carrying Corporation Limited Announces Resignation of Shyam Lal Yadav as Chief Financial Officer, Effective September 30, 2024 North Eastern Carrying Corporation Limited announced that Mr. Shyam Lal Yadav has tendered his resignation from the post of chief financial officer (KMP) of the company due to personal reasons on August 1, 2024. The resignation will be effective from the closure of working hours of September 30, 2024. Reported Earnings • Aug 01
First quarter 2025 earnings released: EPS: ₹0.38 (vs ₹0.30 in 1Q 2024) First quarter 2025 results: EPS: ₹0.38 (up from ₹0.30 in 1Q 2024). Revenue: ₹780.0m (down 7.0% from 1Q 2024). Net income: ₹36.7m (up 147% from 1Q 2024). Profit margin: 4.7% (up from 1.8% in 1Q 2024). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 28% per year, which means it is well ahead of earnings. Announcement • Jul 25
North Eastern Carrying Corporation Limited to Report Q1, 2025 Results on Jul 31, 2024 North Eastern Carrying Corporation Limited announced that they will report Q1, 2025 results on Jul 31, 2024 New Risk • Jul 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.9x net interest cover). High level of non-cash earnings (23% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Shareholders have been diluted in the past year (6.9% increase in shares outstanding). Market cap is less than US$100m (₹4.28b market cap, or US$51.1m). Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to ₹35.97, the stock trades at a trailing P/E ratio of 45.8x. Average trailing P/E is 30x in the Transportation industry in India. Total returns to shareholders of 173% over the past three years. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹29.42, the stock trades at a trailing P/E ratio of 37.4x. Average trailing P/E is 30x in the Transportation industry in India. Total returns to shareholders of 115% over the past three years. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹0.84 (vs ₹1.15 in FY 2023) Full year 2024 results: EPS: ₹0.84. Revenue: ₹3.37b (up 10.0% from FY 2023). Net income: ₹80.2m (up 39% from FY 2023). Profit margin: 2.4% (up from 1.9% in FY 2023). The increase in margin was driven by higher revenue. Announcement • May 24
North Eastern Carrying Corporation Limited to Report Q4, 2024 Results on May 30, 2024 North Eastern Carrying Corporation Limited announced that they will report Q4, 2024 results on May 30, 2024 Announcement • Apr 04
North Eastern Carrying Corporation Limited announced that it has received INR 148.233237 million in funding On April 4, 2024, North Eastern Carrying Corporation Limited closed the transaction. The company amended the terms of the transaction and issued 670,000 equity shares and 3,955,062 Share warrants convertible into equity shares on preferential basis of face value of INR 10 at a price of 32.05 per share for the aggregate gross proceeds of $148,233,237. Valuation Update With 7 Day Price Move • Apr 03
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₹26.70, the stock trades at a trailing P/E ratio of 40.4x. Average trailing P/E is 39x in the Transportation industry in India. Total returns to shareholders of 249% over the past three years. New Risk • Apr 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Shareholders have been substantially diluted in the past year (90% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (₹2.45b market cap, or US$29.4m). Announcement • Mar 28
North Eastern Carrying Corporation Limited Announces Resignation of Manoj Kumar Jain as Non Executive Independent Director, Member of the Audit Committee, Nomination & Remuneration Committee and Stakeholder Relationship Committee North Eastern Carrying Corporation Limited announced that Mr. Manoj Kumar Jain (DIN: 01887411) vide the letter dated 28th March 2024 has tendered his resignation as Non Executive Independent Director of the Company with effect from close of business hours on 28th March 2024 citing personal commitments. Consequently, he shall also cease to be a Member of the Audit Committee, Nomination & Remuneration Committee and Stakeholder Relationship Committee. Valuation Update With 7 Day Price Move • Mar 12
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹25.85, the stock trades at a trailing P/E ratio of 39.1x. Average trailing P/E is 40x in the Transportation industry in India. Total returns to shareholders of 197% over the past three years. Reported Earnings • Feb 18
Third quarter 2024 earnings released: EPS: ₹0.26 (vs ₹0.42 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.26. Revenue: ₹856.9m (up 19% from 3Q 2023). Net income: ₹25.2m (up 18% from 3Q 2023). Profit margin: 2.9% (in line with 3Q 2023). New Risk • Feb 17
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 90% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.4x net interest cover). Shareholders have been substantially diluted in the past year (90% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (₹3.11b market cap, or US$37.5m). Announcement • Feb 15
North Eastern Carrying Corporation Limited announced that it expects to receive INR 37.058309 million in funding North Eastern Carrying Corporation Limited announced a private placement of up to 46,25,062 convertible equity warrants at a price of INR 8.0125 per warrant for the gross proceeds of INR 37,058,309.275 on February 14, 2024. The transaction will include participation from new individual investors Sunil Kumar Jain for 39,55,062 warrants and Hemant Kumar Aggarwal for 670,000 warrants. The transaction has been approved by the shareholders of the company and is subject to approval of Extraordinary General Meeting of the shareholders to be held on March 08, 2024. The tenure of the warrants shall not exceed 18 months from the date of allotment. Each warrant shall carry a right to subscribe 1 Equity Share per warrant, which may be exercised in one or more tranches during the period commencing from the date of allotment of warrants until the expiry of 18 months from the date of allotment of the warrants. The warrant exercise price is INR 24.0375. Post allotment, Sunil Kumar Jain will hold 39,55,062 warrants for 3.96% stake and Hemant Kumar Aggarwal will hold 670,000 warrants for 0.67% stake. Announcement • Feb 07
North Eastern Carrying Corporation Limited to Report Q3, 2024 Results on Feb 14, 2024 North Eastern Carrying Corporation Limited announced that they will report Q3, 2024 results on Feb 14, 2024 Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₹29.80, the stock trades at a trailing P/E ratio of 36.6x. Average trailing P/E is 30x in the Transportation industry in India. Total returns to shareholders of 350% over the past three years. New Risk • Oct 31
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Shareholders have been substantially diluted in the past year (90% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.7% average weekly change). Market cap is less than US$100m (₹2.30b market cap, or US$27.7m). Announcement • Oct 22
North Eastern Carrying Corporation Limited to Report Q2, 2024 Results on Oct 27, 2023 North Eastern Carrying Corporation Limited announced that they will report Q2, 2024 results on Oct 27, 2023 Announcement • Aug 26
North Eastern Carrying Corporation Limited, Annual General Meeting, Sep 16, 2023 North Eastern Carrying Corporation Limited, Annual General Meeting, Sep 16, 2023, at 12:30 Indian Standard Time. Agenda: To receive, consider, approve and adopt the Audited Financial Statements of the Company for the financial year ended March 31, 2023 along with the Reports of the Board of Directors and Auditors thereon; and to appoint a Director in place of Mr. Sunil Kumar Jain, Managing Director, who retires by rotation and being eligible, offers himself for re-appointment. Reported Earnings • Aug 15
First quarter 2024 earnings released: EPS: ₹0.30 (vs ₹0.19 in 1Q 2023) First quarter 2024 results: EPS: ₹0.30 (up from ₹0.19 in 1Q 2023). Revenue: ₹841.4m (up 2.5% from 1Q 2023). Net income: ₹14.9m (up 55% from 1Q 2023). Profit margin: 1.8% (up from 1.2% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 34% per year whereas the company’s share price has increased by 30% per year. Announcement • Aug 07
North Eastern Carrying Corporation Limited to Report Q1, 2024 Results on Aug 14, 2023 North Eastern Carrying Corporation Limited announced that they will report Q1, 2024 results on Aug 14, 2023 New Risk • Jul 23
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 90% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Shareholders have been substantially diluted in the past year (90% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₹1.90b market cap, or US$23.2m). Announcement • Jun 13
North Eastern Carrying Corporation Limited Announces Director Resignations North Eastern Carrying Corporation Limited announced that Mr. Mohak Jain & Mr. Utsav Jain Independent Directors have resigned from the Board of Directors with effect from June 9, 2023 due to personal reasons. Reported Earnings • Jun 04
Full year 2023 earnings released: EPS: ₹1.15 (vs ₹0.85 in FY 2022) Full year 2023 results: EPS: ₹1.15 (up from ₹0.85 in FY 2022). Revenue: ₹3.06b (up 22% from FY 2022). Net income: ₹57.7m (up 36% from FY 2022). Profit margin: 1.9% (up from 1.7% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 23
North Eastern Carrying Corporation Limited to Report Q4, 2023 Results on May 30, 2023 North Eastern Carrying Corporation Limited announced that they will report Q4, 2023 results at 12:15 PM, Indian Standard Time on May 30, 2023 Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹22.10, the stock trades at a trailing P/E ratio of 18.9x. Average trailing P/E is 18x in the Transportation industry in India. Total returns to shareholders of 329% over the past three years. Valuation Update With 7 Day Price Move • Mar 15
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹14.70, the stock trades at a trailing P/E ratio of 12.5x. Average trailing P/E is 18x in the Transportation industry in India. Total returns to shareholders of 277% over the past three years. Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹19.30, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 19x in the Transportation industry in India. Total returns to shareholders of 298% over the past three years. Announcement • Feb 16
North Eastern Carrying Corporation Limited Announces Board Appointments The board of directors of North Eastern Carrying Corporation Limited meeting held on February 14, 2023, approved appointment of Mr. Saurav Upadhyay as an Additional Director (Non- Executive, Independent) based on the recommendation of the Nomination & Remuneration Committee with effect from February 14, 2023, to hold office for a period of five years subject To Approve the members at the General Meeting of the Company. Appointment of Mr. Ashutosh Kumar Dubey as an Additional Director (Non-Executive, Independent) based on the recommendation of the Nomination & Remuneration Committee with effect from February 14, 2023, to hold office for a period of five years subject To Approve the members at the General Meeting of the Company. Appointment of Ms. Priya Singh as an Additional Director (Non-Executive, Women Independent) based on the recommendation of the Nomination & Remuneration Committee with effect from February 14, 2023, to hold office for a period of five years subject To Approve the members at the General Meeting of the Company. Mr. Saurav Upadhyay is a Company Secretary and has overall 10 years of experience in legal and secretarial compliances, skilled in compliance Management. Mr. Ashutosh Kumar Dubey is an accomplished Company Secretary & Legal executive having good exposure of Corporate Legal & secretarial work. He has over 6.5 years of experience. Ms. Priya Singh is an accomplished Company Secretary and has 7 years of experience in secretarial compliances, IBC matter and legal compliances. Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: ₹0.42 (vs ₹0.23 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.42 (up from ₹0.23 in 3Q 2022). Revenue: ₹725.0m (up 32% from 3Q 2022). Net income: ₹21.3m (up 88% from 3Q 2022). Profit margin: 2.9% (up from 2.1% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 07
North Eastern Carrying Corporation Limited to Report Q3, 2023 Results on Feb 14, 2023 North Eastern Carrying Corporation Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Reported Earnings • Nov 20
Second quarter 2023 earnings released: EPS: ₹0.31 (vs ₹0.23 in 2Q 2022) Second quarter 2023 results: EPS: ₹0.31 (up from ₹0.23 in 2Q 2022). Revenue: ₹783.9m (up 43% from 2Q 2022). Net income: ₹15.5m (up 36% from 2Q 2022). Profit margin: 2.0% (down from 2.1% in 2Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. Non-Executive Non Independent Women Director Reena Gupta was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Aug 19
Investor sentiment improved over the past week After last week's 16% share price gain to ₹28.95, the stock trades at a trailing P/E ratio of 32.6x. Average trailing P/E is 25x in the Transportation industry in India. Total returns to shareholders of 436% over the past three years. Reported Earnings • Aug 17
First quarter 2023 earnings released: EPS: ₹0.19 (vs ₹0.14 in 1Q 2022) First quarter 2023 results: EPS: ₹0.19 (up from ₹0.14 in 1Q 2022). Revenue: ₹820.9m (up 17% from 1Q 2022). Net income: ₹9.60m (up 34% from 1Q 2022). Profit margin: 1.2% (up from 1.0% in 1Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 73% per year, which means it is well ahead of earnings. Reported Earnings • Jun 03
Full year 2022 earnings released: EPS: ₹0.85 (vs ₹0.28 in FY 2021) Full year 2022 results: EPS: ₹0.85 (up from ₹0.28 in FY 2021). Revenue: ₹2.51b (up 8.8% from FY 2021). Net income: ₹36.0m (up 152% from FY 2021). Profit margin: 1.4% (up from 0.6% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 53% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improved over the past week After last week's 17% share price gain to ₹29.95, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 29x in the Transportation industry in India. Total returns to shareholders of 299% over the past three years. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 5 highly experienced directors. Non-Executive Non Independent Women Director Reena Gupta was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 17
Investor sentiment improved over the past week After last week's 21% share price gain to ₹23.85, the stock trades at a trailing P/E ratio of 20.1x. Average trailing P/E is 26x in the Transportation industry in India. Total returns to shareholders of 173% over the past three years. Reported Earnings • Feb 16
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.23. Revenue: ₹550.4m (down 12% from 3Q 2021). Net income: ₹11.4m (up 37% from 3Q 2021). Profit margin: 2.1% (up from 1.3% in 3Q 2021). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 1% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jan 24
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹22.90, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 24x in the Transportation industry in India. Total returns to shareholders of 169% over the past three years. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improved over the past week After last week's 15% share price gain to ₹22.90, the stock trades at a trailing P/E ratio of 19.8x. Average trailing P/E is 19x in the Transportation industry in India. Total returns to shareholders of 132% over the past three years. Reported Earnings • Aug 12
First quarter 2022 earnings released: EPS ₹0.14 (vs ₹0.64 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹704.9m (up 112% from 1Q 2021). Net income: ₹7.19m (up ₹39.5m from 1Q 2021). Profit margin: 1.0% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 27
Investor sentiment improved over the past week After last week's 17% share price gain to ₹17.15, the stock trades at a trailing P/E ratio of 55.9x. Average trailing P/E is 24x in the Transportation industry in India. Total returns to shareholders of 44% over the past three years. Reported Earnings • Jul 03
Full year 2021 earnings released: EPS ₹0.28 (vs ₹1.27 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹2.31b (down 39% from FY 2020). Net income: ₹14.3m (down 78% from FY 2020). Profit margin: 0.6% (down from 1.7% in FY 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 23
Investor sentiment improved over the past week After last week's 27% share price gain to ₹16.05, the stock trades at a trailing P/E ratio of 55.4x. Average trailing P/E is 35x in the Transportation industry in India. Total returns to shareholders of 15% over the past three years.