North Eastern Carrying Corporation Limited (NECCLTD)
₹19.47 -1.32% last close, 16 Oct
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, North Eastern's revenue was ₹96.2 Cr (+9.2% year on year, +33.7% on the previous quarter), and net profit ₹0.7 Cr (-60.2% year on year); the operating margin was 2.2%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹96.2 | +9.2% | +33.7% |
| Operating profit | ₹2.1 | -13.7% | -67.5% |
| Net profit | ₹0.7 | -60.2% | -79.7% |
| EPS (₹) | 0.07 | -61.1% | -79.4% |
| Operating margin | 2.2% | — | — |
NECCLTD delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 88.7% of the NECCLTD shares traded on NSE were taken to delivery, against the stock's own 20-session average of 61.79%. That is higher than usual for this stock. Turnover was only ₹29 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 53.3% · 60.9% · 80.0% · 62.6% · 88.7%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
North Eastern Carrying Corporation Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate issued by Registrar and Share Transfer Agent MAS Services Limited confirms that dematerialisation requests received between July 1, 2026, and September 30, 2026, were processed within the prescribed 15-day limit. The security certificates have been verified, mutilated, cancelled, and member registers updated accordingly. This is a standard quarterly procedural disclosure with no operational or financial impact.
- Regulation 74(5) compliance certificate filed for the quarter ended September 30, 2026
- RTA MAS Services Limited confirmed processing of demat requests within the mandated 15 days
- Covers all share transfer and demat activity from July 1, 2026, to September 30, 2026
NECC has submitted minutes of its 41st AGM held on September 10, 2026, confirming shareholder approval for key capital-raising and balance sheet restructuring proposals. Shareholders approved increasing the authorized share capital from ₹110 crore to ₹150 crore, issuing 1,00,00,000 convertible warrants on a preferential basis to promoter Sunil Kumar Jain, and enabling lenders to convert up to ₹50 crore of loans into convertible securities. The ₹50 crore potential debt conversion is significant, representing approximately 40% of the company's total debt of ₹124 crore.
- Shareholders approved issue of 1,00,00,000 convertible warrants on preferential basis to promoter Sunil Kumar Jain with 99.97% votes in favor
- Approval granted to convert lender loans up to ₹50 Crores into convertible warrants or specified securities (approx. 40% of ₹124 Cr debt)
- Authorised share capital increased from ₹110 Crores to ₹150 Crores by creating 4 crore additional equity shares
- Re-appointment of CMD Sunil Kumar Jain (remuneration up to ₹85 Lakhs/year) and WTD Utkarsh Jain (remuneration up to ₹60 Lakhs/year) approved
North Eastern Carrying Corporation Limited has allotted 1,00,00,000 convertible warrants on a preferential basis to its promoter, Mr. Sunil Kumar Jain. The issue price is ₹18.51 per warrant, aggregating to a total consideration of ₹18.51 Cr. This capital infusion represents approximately 10.6% of the company's current market cap of ₹175 Cr. The warrants are convertible into equity shares within 18 months from the allotment date.
- Allotted 1,00,00,000 convertible warrants on a preferential basis
- Issued to promoter Mr. Sunil Kumar Jain at an issue price of ₹18.51 per share
- Total issue value is ₹18,51,00,000 (~₹18.51 Cr)
- Tenure of conversion into equity shares is within 18 months from allotment date
North Eastern Carrying Corporation Limited (NECC) has approved the allotment of 1,00,00,000 convertible warrants at an issue price of ₹18.51 per warrant on a preferential basis to promoter Mr. Sunil Kumar Jain. The total preferential allotment aggregates to approximately ₹18.51 crore. Relative to the company's current market capitalization of ₹175 crore, this fund infusion represents roughly 10.6% in potential equity addition. The warrant issue price of ₹18.51 is virtually in line with the latest trading price of ₹18.60.
- Board approved allotment of 1,00,00,000 convertible warrants
- Issue price fixed at Rs. 18.51 per warrant
- Total capital to be raised is approximately Rs. 18.51 Crores
- Allotment made exclusively on a preferential basis to promoter Mr. Sunil Kumar Jain
North Eastern Carrying Corporation Limited (NECCLTD) has secured a work contract worth Rs 78.19 Crores from Tata Steel Limited. The contract spans a period of two years and entails the transportation of iron ore from Kalamang to siding locations/railway stations, including the deployment of adequate vehicles. This order represents approximately 15.5% of the company's TTM revenue of Rs 503 Crores and about 44.9% of its current market capitalization of Rs 174 Crores. The contract adds multi-year revenue visibility with a high-profile client in bulk freight handling.
- Total contract value of Rs. 78.19 Crores
- Contract duration of two (2) years
- Awarded by Tata Steel Limited for iron ore transportation from Kalamang
- Requires deployment of adequate vehicle fleet for siding/railway movement
North Eastern Carrying Corporation Limited has announced the closure of its trading window effective Thursday, October 01, 2026. The closure applies to insiders and their immediate relatives pursuant to SEBI (Prohibition of Insider Trading) Regulations. It will remain in effect until 48 hours after the declaration of the un-audited financial results for the quarter and half year ending September 30, 2026. The specific date for the upcoming Board Meeting will be announced separately.
- Trading window closure starts on Thursday, October 01, 2026
- Window will remain closed until 48 hours after the conclusion of the Board Meeting
- Applies to the approval of financial results for the period ending September 30, 2026
- Board meeting date to consider financial results will be intimated in due course
North Eastern Carrying Corporation Limited (NECCLTD) announced the results of its 41st AGM held on September 10, 2026, where all 8 resolutions were passed with over 99.9% approval. Key approvals include the issuance of convertible warrants on a preferential basis and raising funds via convertible secured/unsecured loans. Additionally, shareholders approved an increase in authorised share capital and the re-appointment of CMD Sunil Kumar Jain (remuneration up to Rs 85 Lakhs/year) and Whole-time Director Utkarsh Jain (remuneration up to Rs 60 Lakhs/year).
- All 8 resolutions passed with >99.9% voting approval across remote e-voting and AGM voting
- Approved raising funds through secured/unsecured convertible loans (5,98,69,029 votes in favour)
- Approved issuance of convertible warrants on a preferential basis (3,46,60,374 votes in favour)
- Re-appointed CMD Sunil Kumar Jain with remuneration up to Rs 85 Lakhs per annum
- Re-appointed Utkarsh Jain as Whole-time Director with remuneration up to Rs 60 Lakhs per annum
North Eastern Carrying Corporation Limited held its 41st AGM on September 10, 2026, placing key capital structure resolutions before shareholders. The proposals include raising the authorised share capital from ₹110 Cr to ₹150 Cr, enabling headroom for equity expansion. Additionally, the company proposed issuing 1.0 Cr convertible warrants at ₹18.51 each to promoter Sunil Kumar Jain (aggregating ₹18.51 Cr, ~10.2% of market cap) and enabling lenders to convert up to ₹50 Cr of debt into equity or convertible instruments (representing ~40.3% of total debt). Voting results will be submitted separately.
- Proposed preferential allotment of 1,00,00,000 convertible warrants to promoter Sunil Kumar Jain at ₹18.51 per warrant, raising ₹18.51 Cr
- Enabled option for lenders to convert existing debt of up to ₹50,00,00,000 (₹50 Cr) into convertible instruments or equity
- Increased Authorised Share Capital from ₹110 Cr to ₹150 Cr by creating 4 Cr additional equity shares of ₹10 each
- Re-appointed Sunil Kumar Jain as CMD for 5 years at an annual remuneration of up to ₹85,00,000
- Re-appointed Utkarsh Jain as Whole-time Director for 5 years at an annual remuneration of up to ₹60,00,000
Promoter group entity N E C C Securities Private Limited sold 5,00,010 equity shares of North Eastern Carrying Corporation Limited via open market on September 02, 2026. The transaction value stood at Rs 84.50 lakh (approx. Rs 16.90 per share). Following the sale, the entity's holding reduced from 13.44% (1,40,48,072 shares) to 12.96% (1,35,48,062 shares), representing a 0.48% stake reduction. The transaction size represents approximately 0.51% of the company's Rs 167 crore market capitalization.
- Promoter group entity sold 5,00,010 equity shares in the open market on September 02, 2026
- Total transaction consideration amounted to Rs 84.50 lakh
- Holding of NECC Securities decreased from 13.44% to 12.96% (a reduction of 0.48%)
- Transaction value accounts for ~0.51% of the company's Rs 167 crore market capitalization
North Eastern Carrying Corporation Limited reported an insider trading disclosure regarding a promoter group entity, NECC Securities Private Limited. The entity sold 500,010 equity shares via open market on September 02, 2026, for a total value of ₹84.50 lakh. Following the sale, NECC Securities Private Limited's shareholding decreased from 13.34% (14,048,072 shares) to 12.96% (13,548,062 shares). The total transaction value represents approximately 0.5% of the company's market capitalization of ₹167 crore.
- Promoter group entity NECC Securities Private Limited sold 500,010 equity shares
- Total transaction value stood at ₹84.50 lakh (₹84,50,169)
- Holding of NECC Securities Pvt Ltd decreased from 13.34% to 12.96%
- Transaction was executed on-market on September 02, 2026
Promoter group entity N E C C Securities Private Limited sold 5,00,000 equity shares of North Eastern Carrying Corporation Limited via open market transactions on August 26 and August 27, 2026. The total consideration of the sale was Rs 87.50 Lakhs, representing approximately 0.55% of the company's Rs 160 Cr market capitalization. Following this disposal, the entity's holding reduced from 13.92% (1,45,48,072 shares) to 13.40% (1,40,48,072 shares).
- NECC Securities Pvt Ltd disposed of 5,00,000 shares via on-market sales on August 26-27, 2026
- Total transaction value stood at Rs 87.50 Lakhs
- Promoter group entity's holding declined by 0.52% from 13.92% to 13.40%
North Eastern Carrying Corporation Limited (NECCLTD) issued a corrigendum to its AGM notice regarding the preferential issue of convertible warrants to promoter Sunil Kumar Jain. The issue price has been determined at Rs 18.51 per warrant, backed by an independent valuation report. As per terms, 25% of the issue price will be discharged by adjusting outstanding unsecured loans owed to the promoter, while the remaining 75% will be paid in cash upon warrant exercise within 18 months. E-voting is scheduled from September 7 to September 9, 2026, ahead of the AGM on September 10, 2026.
- Preferential convertible warrants to be issued to promoter Sunil Kumar Jain at Rs 18.51 per warrant.
- 25% upfront consideration to be settled via conversion/adjustment of outstanding unsecured promoter debt.
- Balance 75% consideration payable in cash upon warrant conversion within an 18-month tenure.
- E-voting window opens from September 7, 2026 (9:00 AM) to September 9, 2026 (5:00 PM).
North Eastern Carrying Corporation Limited has announced its 41st Annual General Meeting (AGM) scheduled for September 10, 2026, via Video Conferencing. The company has fixed September 03, 2026, as the cut-off date to determine voting eligibility. The register of members and share transfer books will remain closed from September 03, 2026, to September 10, 2026. Remote e-voting will be open between September 07, 2026 (9:00 AM) and September 09, 2026 (5:00 PM).
- 41st Annual General Meeting scheduled for September 10, 2026 at 12:30 PM via VC/OAVM
- Record/Cut-off date for voting eligibility set as September 03, 2026
- Book closure period from September 03, 2026 to September 10, 2026 (both days inclusive)
- Remote e-voting window runs from September 07, 2026 (9:00 AM) to September 09, 2026 (5:00 PM)
North Eastern Carrying Corporation Limited (NECCLTD) has scheduled its 41st AGM for September 10, 2026. The company is seeking shareholder approval to increase its authorized share capital from ₹110 Cr to ₹150 Cr, a 36% increase. Crucially, it is also seeking an enabling resolution to raise funds through loans that can be converted into equity or other convertible securities. Additionally, the board proposes re-appointing the Chairman and Whole Time Director for 5-year terms with a combined maximum annual remuneration of ₹1.45 Cr.
- Proposed increase in authorized share capital by ₹40 Cr to a total of ₹150 Cr
- Seeking approval for loans with an option to convert into convertible securities under Section 62(3)
- Re-appointment of CMD Sunil Kumar Jain with remuneration up to ₹85 Lakhs per annum
- Re-appointment of WTD Utkarsh Jain with remuneration up to ₹60 Lakhs per annum
- Cut-off date for voting eligibility set for September 03, 2026
North Eastern Carrying Corporation Limited (NECCLTD) has announced a preferential issue of 1,00,00,000 convertible warrants to its promoter, Mr. Sunil Kumar Jain. The warrants are priced at Rs 18.51 each, totaling Rs 18.51 crore, which represents approximately 13.3% of the company's current market capitalization. Notably, the issue price is at a ~26% premium to the current market price of Rs 14.7. The warrants can be issued for cash or against outstanding unsecured loans, potentially aiding in debt reduction or capital infusion for its e-commerce logistics expansion.
- Proposed issue of 1,00,00,000 convertible warrants to promoter Mr. Sunil Kumar Jain
- Total fundraise/debt conversion size of up to Rs 18.51 Crores
- Issue price of Rs 18.51 per warrant, a significant premium over the current market price of Rs 14.7
- Warrants convertible into equity shares within a period of 18 months from allotment
- Consideration can be cash or adjusted against existing unsecured loans from the promoter
Financial Performance
Revenue Growth by Segment
The Freight segment, which is the primary revenue driver, generated INR 315.80 Cr in FY25, representing a 2.32% decrease from INR 323.31 Cr in FY24. The Loading and Unloading segment grew by 9.55% to INR 12.90 Cr in FY25 from INR 11.78 Cr in FY24. Consolidated revenue for H1 FY26 reached INR 391.96 Cr, a significant 68.7% increase compared to INR 232.26 Cr in H1 FY25.
Geographic Revenue Split
While specific regional percentages are not disclosed, the company is actively expanding into remote parts of India. It utilizes a franchise route in new locations to mitigate investment risks while targeting the next phase of growth in underserved domestic markets.
Profitability Margins
Net Profit Margin improved to 3.08% in FY25 from 2.34% in FY24, an increase of 74 bps. This was driven by a 27.8% growth in Profit After Tax (PAT) to INR 10.25 Cr. In Q2 FY22, PAT margins were recorded at 2.09% compared to 1.47% in Q2 FY21.
EBITDA Margin
EBITDA margins increased by 386 basis points to 7.78% in Q2 FY22 from 3.92% in Q2 FY21. This core profitability improvement was attributed to better control over truck freight costs and a reduction in finance costs.
Capital Expenditure
The company invested INR 4.64 Cr in the purchase of fixed assets during FY25. For the half-year ended September 30, 2025, capital expenditure on fixed assets increased significantly to INR 8.27 Cr to support operational expansion.
Credit Rating & Borrowing
Credit ratings are not disclosed. However, finance costs for FY25 stood at INR 7.07 Cr, representing 2.15% of total revenue. The company is focused on choosing long-term debt over short-term financing to reduce the overall cost of capital.
Operational Drivers
Raw Materials
As a logistics provider, the primary 'raw material' is Truck Hire/Freight Services, which accounts for INR 269.46 Cr or 81.8% of total revenue. Other major costs include Employee Benefits (INR 19.18 Cr) and Loading/Unloading services.
Import Sources
Not disclosed as the company primarily sources domestic truck hire and freight services within India.
Key Suppliers
Not specifically named; the company interacts with a wide network of individual truck owners and small fleet operators for freight services.
Capacity Expansion
The company is expanding its physical footprint by opening new branches in remote areas. It is also positioning itself to capture a share of the projected 165% increase in e-commerce warehousing space required in India by 2026.
Raw Material Costs
Direct operating costs (freight and services) were INR 269.46 Cr in FY25, a decrease from previous levels as the company focused on 'Control on Truck Freight' to improve margins.
Manufacturing Efficiency
Not applicable as a service-based logistics company; efficiency is measured by the EBITDA margin improvement (up 386 bps in Q2 FY22) through cost control.
Logistics & Distribution
Operating and direct costs represent 81.8% of revenue, reflecting the high-volume, low-margin nature of the freight carrying business.
Strategic Growth
Expected Growth Rate
165%
Growth Strategy
Growth will be achieved by targeting the e-commerce segment, which is expected to occupy 165% more warehouse space over the next five years. The company is also opening new offices in remote parts of India using a franchise model to mitigate risk and strengthening its manpower base for long-term scalability.
Products & Services
The company provides freight transportation, loading and unloading services, and logistics value spectrum services including warehousing.
Brand Portfolio
NECC (North Eastern Carrying Corporation Limited).
New Products/Services
Expansion into specialized e-commerce logistics and remote-area freight services is expected to be the primary driver of new revenue streams.
Market Expansion
Targeting remote parts of India with new branch offices to create a comprehensive national network.
Market Share & Ranking
Not disclosed, but the company claims a 'strong foothold' in the entire logistics value spectrum.
Strategic Alliances
The company utilizes a franchise route for new locations to share risk and leverage local expertise.
External Factors
Industry Trends
The logistics sector is evolving with massive government infrastructure investments. E-commerce is the primary disruptor, with warehousing demand expected to more than double by 2026.
Competitive Landscape
Faces competition from both domestic players and multinational logistics firms. NECC competes by leveraging its established brand and expanding its reach.
Competitive Moat
The moat is built on brand goodwill established since 1958 and an extensive branch network. This is sustainable due to the high operational complexity of managing logistics in remote Indian regions.
Macro Economic Sensitivity
Highly sensitive to fuel price fluctuations and general economic activity, as freight demand is linked to industrial output and e-commerce growth.
Consumer Behavior
Shift toward online shopping is driving the need for faster, more reliable logistics and increased warehousing capacity.
Geopolitical Risks
Minimal direct impact as a domestic carrier, but indirect impacts could arise from global supply chain shifts affecting Indian manufacturing.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act, 2013 and SEBI (LODR) Regulations, 2015. The company must obtain various approvals and licenses for branch operations and transportation.
Taxation Policy Impact
The company's total tax expense for FY25 was INR 2.78 Cr, with a current tax component of INR 2.94 Cr and a deferred tax credit of INR 0.16 Cr.
Legal Contingencies
Statutory auditors noted that the company has not provided for doubtful debts, as management believes they are fully realizable. Additionally, debit and credit balances are subject to confirmation, and Right to Use assets for leased properties have not been recognized.
Risk Analysis
Key Uncertainties
Financial risk is a key uncertainty; the business requires continuous cash flow, and any lack of capital could lead to a loss of work orders. Competition risk from new players entering the logistics pie is also significant.
Geographic Concentration Risk
Historically focused on the North East and North India, but currently diversifying into remote parts of the entire country.
Third Party Dependencies
High dependency on third-party truck providers for freight services, making the company vulnerable to freight rate volatility.
Technology Obsolescence Risk
The company is investing in material handling equipment and manpower training to stay competitive against tech-enabled logistics startups.
Credit & Counterparty Risk
The company faces credit risk, which it mitigates through a proper credit policy and assessment of financial requirements. Auditors highlighted that debtors are not currently provided for as doubtful.
