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10 Yrs X-Ray 
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Analyst Note 
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About
LCC Projects Ltd (LCCPROJECT)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544918 NSE: LCCPROJECT Engineering - Construction | Small Cap | LCC Projects Share Price
₹155.60 -17.15 (-9.93%)
As on 18-Sep'26 16:59
LCC Projects Ltd (LCCPROJECT)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544918 NSE: LCCPROJECT Engineering - Construction | Small Cap | LCC Projects Share Price
₹155.60 -17.15 (-9.93%)
As on 18-Sep'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹4,507 Cr.
Current Price
₹155.6
52-Week Low / High
₹156 / 192
TTM EPS
₹9.8
TTM Sales
₹3,600 Cr.
Book Value per Share
₹39.6
P/E Ratio
15.90
Industry PE
24.2
Price to Book (P/B)
3.93
Price to Sales (P/S)
1.25
EV/EBITDA
9.42
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
38.36%
Outperforms industry median
Return on Capital Employed (ROCE)
30.61%
Outperforms industry median
Return on Assets (ROA)
13.20%
Operating Profit Margin
13.4%
Net Profit Margin
7.96%
Gross Profit Margin
11.8%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
19.12%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
27.34%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
28.09%
Asset Quality
Promoter Holding
%
Pledged shares (%) of Promoter's holding (%)
%
Reserves
₹1,002 Cr.
Equity
₹144.8 Cr.
Face Value
₹5
All Time Low / High
₹172.75 / 191.90
Check Before You Invest
Quality
Somewhat GoodValuation
NACheck Valuation charts
Price Trend
Weak
Is LCC Projects Ltd a good quality company?
LCC Projects Ltd is a quality company, based on a multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does LCC Projects Ltd performance compare with that of its Peers?
Revenue growth of LCC Projects Ltd vs industry peers?
LCC Projects Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of 0%, indicating stable growth and maintaining its market share.
Promoter shareholding and pledge status of LCC Projects Ltd?
Promoters hold % of the LCC Projects Ltd, with % of their stake pledged, indicating no pledge risk.
Stock return of LCC Projects Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
LCC Projects Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good
Value Creation ⓘ
| Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|
| ROCE % ⓘ | 24.5% | 29.4% | 32.9% | 34.6% | - |
| Value Creation Index ⓘ | 0.8 | 1.1 | 1.4 | 1.5 | - |
Growth Parameters ⓘ |
|||||
| Sales ⓘ | 756 | 1,227 | 2,403 | 2,862 | 2,862 |
| Sales YoY Gr. | - | 62.3% | 95.9% | 19.1% | - |
| Adj EPS ⓘ | 1.7 | 2.5 | 5.2 | 8 | 7.6 |
| YoY Gr. | - | 48.5% | 110.1% | 54.1% | - |
| BVPS (₹) ⓘ | 6.7 | 9.6 | 14 | 22.1 | 29.6 |
| Adj Net Profit ⓘ | 45.3 | 67.3 | 142 | 218 | 220 |
| Cash Flow from Ops. ⓘ | 45.1 | -50.5 | 22.9 | -108 | - |
| Debt/CF from Ops. ⓘ | 2.2 | -5.4 | 18 | -6.8 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | NA | NA | 55.9% | 19.1% | ||||
| Adj EPS ⓘ | NA | NA | 68.8% | 54.1% | ||||
| BVPSⓘ | NA | NA | 49.1% | 57.5% | ||||
| Share Price | - | - | - | - | ||||
Key Financial Parameters ⓘ
| Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|
| Return on Equity % ⓘ | 22.3 | 28.9 | 44.1 | 44.5 | 29.4 |
| Op. Profit Mgn % ⓘ | 9.6 | 9.5 | 10.7 | 12.9 | NAN |
| Net Profit Mgn % ⓘ | 6 | 5.5 | 5.9 | 7.6 | 7.7 |
| Debt to Equity ⓘ | 0.6 | 1 | 1.1 | 1.2 | - |
| Working Cap Days ⓘ | 0 | 147 | 118 | 140 | 0 |
| Cash Conv. Cycle ⓘ | 0 | 43 | 20 | 33 | 0 |
Valuation of LCC Projects - Consolidated
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
No Data To Display
Promoter's Holding & Share Pledging
Financials
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|
| Sales | 781 | 1,225 | 2,439 | 2,918 | 3,600 |
| Operating Expenses ⓘ + | 710 | 1,107 | 2,173 | 2,540 | 3,119 |
| Operating Profit ⓘ | 71 | 118 | 266 | 378 | 482 |
| Operating Profit Margin (%) | 9.1% | 9.7% | 10.9% | 13.0% | 13.4% |
| Other Income ⓘ + | 15 | 9 | 11 | 23 | 39 |
| Interest ⓘ | 25 | 29 | 50 | 80 | 96 |
| Depreciation ⓘ | 7 | 7 | 19 | 27 | 45 |
| Profit Before Tax ⓘ | 54 | 92 | 172 | 294 | 378 |
| Tax ⓘ | 19 | 24 | 50 | 70 | 92 |
| Profit After Tax | 35 | 68 | 122 | 224 | 286 |
| PAT Margin (%) | 4.5% | 5.6% | 5.0% | 7.7% | 8.0% |
| Adjusted EPS (₹) | 1.3 | 2.5 | 4.5 | 8.2 | 10.4 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 193 | 261 | 383 | 605 | 888 | ||||||
| Debt + | 115 | 284 | 404 | 715 | 786 | ||||||
| Minority Interest | 0 | -0 | 1 | 2 | 5 | ||||||
| Trade Payables | 55 | 94 | 172 | 103 | 261 | ||||||
| Others Liabilities ⓘ | 126 | 187 | 220 | 377 | 597 | ||||||
| Total Liabilities ⓘ | 489 | 827 | 1,179 | 1,801 | 2,538 | ||||||
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 65 | 86 | 135 | 150 | 189 | ||||||
| CWIP ⓘ | 0 | 0 | 0 | 34 | 0 | ||||||
| Investments ⓘ | 5 | 5 | 5 | 5 | 10 | ||||||
| Inventories | 21 | 81 | 136 | 201 | 248 | ||||||
| Trade Receivables | 94 | 181 | 157 | 250 | 456 | ||||||
| Cash Equivalents | 42 | 64 | 131 | 312 | 461 | ||||||
| Others Assets ⓘ | 262 | 409 | 616 | 849 | 1,175 | ||||||
| Total Assets ⓘ | 489 | 827 | 1,179 | 1,801 | 2,538 | ||||||
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 17 | -49 | 29 | 24 | 158 |
| Cash Flow From Investing Activity ⓘ + | -39 | -93 | -129 | -195 | -107 |
| Cash Flow From Financing Activity ⓘ + | 59 | 143 | 83 | 252 | 18 |
| Net Cash Flow ⓘ | 37 | 2 | -17 | 81 | 69 |
| PARTICULARS | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |||||
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 18.3 | 30.03 | 37.88 | 45.28 | 38.36 | |||||
| ROCE (%) | 25.56 | 28.03 | 32.81 | 34.66 | 30.61 | |||||
| Asset Turnover Ratio | 1.6 | 1.86 | 2.43 | 1.96 | 1.66 | |||||
| PAT to CFO Conversion(x) | 0.49 | -0.72 | 0.24 | 0.11 | 0.55 | |||||
| Working Capital Days | ||||||||||
| Receivable Days | 43.70 | 40.80 | 25.20 | 25.40 | 35.80 | |||||
| Inventory Days | 9.60 | 15.10 | 16.20 | 21.10 | 22.80 | |||||
| Payable Days | 60.90 | 43.70 | 34.90 | 37.30 | 47.90 | |||||
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Announcements
LCC Projects Ltd FAQs
The current trading price of LCC Projects on 18-Sep-2026 16:59 is ₹155.6.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 17-Sep-2026 the market cap of LCC Projects stood at ₹4,507.3 Cr
The latest P/E ratio of LCC Projects as of 17-Sep-2026 is 20.51.
The latest P/B ratio of LCC Projects as of 17-Sep-2026 is 5.25.
The 52-week high of LCC Projects is ₹191.9 and the 52-week low is ₹155.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of LCC Projects is ₹2,862 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that LCC Projects Ltd is a average quality company.
No data found
The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of LCC Projects Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About LCC Projects Ltd
LCC Projects was originally converted from a partnership firm, registered under the Indian Partnership Act, 1932 under the name and style of M/s. Laxmi Construction Co. to LCC Projects Private Limited, a private limited company under the provisions of the Companies Act, 2013, pursuant to a certificate of incorporation dated December 28, 2017, issued by the Registrar of Companies, Central Registration Centre (RoC). Subsequently, the company was converted from a private company to a public company, pursuant to a resolution passed by its Shareholders at the extraordinary general meeting held on November 14, 2024, following which the name of the company was changed from ‘LCC Projects Private Limited’ to ‘LCC Projects Limited’ and a fresh certificate of incorporation was issued by Registrar of Companies, Central Registration Centre on December 5, 2024.
LCC Projects is a multidisciplinary engineering, procurement and construction (EPC) company in the irrigation and water supply projects segment from Gujarat. Over a period of two decades (including projects undertaken through the partnership firm prior to conversion to the company), it has executed a wide range of projects in the irrigation and water supply segment such as construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes, and other EPC projects. Additionally, it has executed a project related to the construction of metro rail project including construction of station along with its approaches and viaducts and are in the process of executing a mining development and operations (MDO) project.
Further, it has established a manufacturing unit, strategically located in Jaspur, Gujarat, for the production of precast concrete solutions for the infrastructure and construction industries. This unit has been set up to manufacture precast concrete elements, which are cast and cured in a controlled factory environment before being transported to construction sites for installation.
The company has experience of executing projects across diverse geographic locations in India. For instance, it has diversified its geographical presence in the construction and development and execution of projects in various states of India, such as Madhya Pradesh, Gujarat, Odisha, Maharashtra, Chhattisgarh, Jharkhand, Uttar Pradesh, Haryana, Himachal Pradesh, Rajasthan, Andhra Pradesh, and Karnataka. It has undertaken projects with different levels of complexities in relation to project execution such as managing water flow dynamics, ensuring structural stability, mitigating geographical challenges like uneven terrain and soil conditions, construction in hilly terrain slope protection and rock fall protection due to high rainfall.
Business area of the company
The company is engaged in the business of designing, construction, and operation and maintenance of roads and highways, bridges, irrigation and mining projects, construction of commercial buildings, and other ancillary services like toll collection, operation and maintenance of highways.
Services of the company
- Irrigation
- Water Supply
- Metro Rail & Industrial Projects
- Mining
Major events and milestones
- 2004: Incorporation of the company as a partnership firm under the name and style of M/s. Laxmi Construction Co.
- 2011: First back-to-back work order of more than Rs 505.50 million for constructing distributaries and minors for the command area under the Dhrangadhra Branch Canal.
- 2014: First own project in Gujarat.
- 2016: Received first contract for more Rs 1,000.00 million in the state of Madhya Pradesh.
- 2017: Expanded reach to Rajasthan.
- 2017: Converted from a partnership firm to a private limited company.
- 2018: Crossed Rs 5,000.00 million in turnover.
- 2019: Expanded reach to Maharashtra.
- 2020: Expanded reach to Odisha.
- 2020: Received work order for first project of metro rail work.
- 2020: Expanded reach to Shimla, Himachal Pradesh.
- 2022: Expanded reach to Haryana.
- 2022: Received first contract for over Rs 10,000.00 million in the state of Madhya Pradesh.
- 2023: Crossed Rs 10,000.00 million in turnover.
- 2023: Expanded reach to Chhattisgarh.
- 2023: Received work order for first project of road work.
- 2024: Crossed Rs 20,000.00 million in turnover.
- 2024: Expanded reach to Karnataka.
- 2024: Upgraded credit rating from A- to A from CARE Ratings.
- 2024: Expanded reach to Jharkhand.
- 2024: Received work order for over Rs 13,954 million, in the state of Madhya Pradesh.
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