About the CompanyThe Noida Toll Bridge Company Ltd. (NTBCL) has been promoted by Infrastructure Leasing and Financial Services Ltd. (IL&FS) as a special purpose vehicle (SPV) to develop construct, operate and maintain the DND Flyway on a Build Own Operate Transfer (BOOT) basis. NTBCL is a public listed company, incorporated in Uttar Pradesh, India, in 1996 and operates only in India.
About the Stock
The stock has been in focus few days back on account of its announcement of hike in its toll rates on the DND Flyway, linking Delhi and Noida. The average rate hike for all vehicles has been hiked sharply by around 130%, effective from February 15. The average daily traffic on DND Flyway is around one lakh vehicles, of which approx 70- 75% of them are cars.
About The Financials
The Rs.10 paid up share’s annualized EPS currently stands at Rs.2.54.The financial performance of the company in Q3FY11 was more or less stable, no fireworks, nothing to get excited about. Infact on a YoY, its net sales dropped 5% but deft management of operating expenses, which was down 17% led to a 11% rise in net profit at Rs.9.52 crore. Its equity is huge at Rs.186.19 crore.
My View on the Stock
As per my view the company has actual business work field and could perform better as the days pass on. The stock could be bought by following average buying process at all significant dips.
