Noida Toll Bridge Company Limited (NOIDATOLL)
🎯 Key Takeaways
- Noida Toll Bridge Company Limited (NOIDATOLL) is in a critical turnaround phase following years of losses, marked by a significant financial recovery in FY26 driven by exceptional income and resolution of key operational and legal challenges. The company has transitioned from sustained losses to profitability, supported by strategic legal victories and infrastructure maintenance progress, positioning it for stabilized operations in the toll infrastructure segment.
- Revenue grew 0.2% QoQ to ₹10 in Q3FY25.
- ⚠️ Dependence on DND Flyway revenue exposes the company to regulatory and contractual risks, including ongoing disputes with NOIDA over fees.
📖 The Story
Noida Toll Bridge Company Limited (NOIDATOLL) is in a critical turnaround phase following years of losses, marked by a significant financial recovery in FY26 driven by exceptional income and resolution of key operational and legal challenges. The company has transitioned from sustained losses to profitability, supported by strategic legal victories and infrastructure maintenance progress, positioning it for stabilized operations in the toll infrastructure segment.
📰 What's Happening
Recent board actions include the appointment of Balvinder Singh as an Independent Director effective August 3, 2026, enhancing governance oversight. The company secured interim relief from the Delhi High Court against NOIDA's ₹100 crore advertisement fee demand, extending protection until July 2026, and completed DND Flyway maintenance upgrades after delays due to GRAP-IV restrictions. Additionally, the Board approved unaudited Q1 FY26 results and scheduled the 30th AGM for September 21, 2026, with trading window resuming August 6, 2026 post-results publication. Compliance with SEBI insider trading norms was confirmed, though one procedural lapse was remedied.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Q4FY23 | Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5 | 3 | 4 | 4 | 10 | 10 | 10 | 10 |
| Operating Profit | -0 | 1 | 1 | 1 | 4 | 4 | 4 | -229 |
| OPM % | -20.7% | 7.1% | -11.9% | 15.2% | 33.4% | 34.1% | 28.6% | 33.9% |
| Net Profit | -10 | -9 | -9 | -8 | -5 | -5 | -6 | -237 |
| EPS | ₹-0.54 | ₹-0.49 | ₹-0.48 | ₹-0.44 | ₹-0.29 | ₹-0.29 | ₹-0.31 | ₹-12.73 |
The company reversed a multi-year loss trend, reporting consolidated PAT of ₹27.24 crore for FY26 versus a ₹244.19 crore loss in FY25, with revenue growing 38.09% YoY to ₹58.84 crore, driven by exceptional items and operational improvements. Quarterly revenue rose to ₹12.72 crore in Q1 FY26 (up 15.95% YoY), and PAT reached ₹3.85 crore, reflecting stabilization. This turnaround follows the resolution of legal disputes, completion of critical infrastructure upgrades, and effective cost management, signaling a shift from distress to operational resilience.
🔮 Management Outlook & What's Next
Management highlighted the completion of DND Flyway maintenance upgrades, phased upkeep costs of ₹20 crore over five years, and extended legal protection against advertising fee demands until July 2026. The Board emphasized strengthening governance with the new Independent Director appointment and plans to address auditor-emphasized matters, including interest on ₹8,227.78 lakhs of loans under NCLAT moratorium. The AGM on September 21, 2026, will likely address shareholder resolutions related to capital allocation and governance enhancements.
Extracted from official company announcements. Not StockFin.ai's opinion.
⚖️ Peer Comparison — Transport Infrastructure
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| Adani Ports and Special Economic Zone Limited | 4.14 L Cr | 30.8 | 12.5% | 7.8% | 0.57 |
| GMR AIRPORTS LIMITED | 1.02 L Cr | -140.0 | — | — | — |
| JSW Infrastructure Limited | 56,091 | 41.5 | — | — | — |
| Gujarat Pipavav Port Limited | 7,302 | 20.8 | — | — | — |
| BF Utilities Limited | 2,022 | 6.2 | — | — | — |
| Innovision Limited | 736 | — | — | — | — |
| Allcargo Terminals Limited | 629 | 14.9 | — | — | — |
| Highway Infrastructure Limited | 403 | 15.5 | — | — | — |
| Dreamfolks Services Limited | 401 | 5.8 | — | — | — |
| ATLANTAA LIMITED | 362 | 1.5 | — | — | — |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Dependence on DND Flyway revenue exposes the company to regulatory and contractual risks, including ongoing disputes with NOIDA over fees. 2. The auditor's emphasis of matter regarding unprovided interest on ₹8,227.78 lakhs of loans under NCLAT moratorium introduces potential contingent liabilities. 3. The company's profitability is currently supported by one-time exceptional income, raising sustainability concerns without structural revenue growth. 4. Regulatory changes in toll infrastructure pricing or enforcement could impact cash flows.
📋 Recent Filings
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🟡 Board Meeting 3 August 2026The board approved unaudited Q1 FY26 financial results, scheduled the 30th AGM, appointed Independent Director Balvinder Singh effective immediately p...
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🔴 Financial Results 3 August 2026Noida Toll Bridge Company Limited announced the appointment of Balvinder Singh as an Independent Director effective August 3, 2026, following board ap...
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🔴 Insider Trading 13 July 2026Noida Toll Bridge Company Limited disclosed compliance with SEBI's insider trading regulations for the quarter ended June 30, 2026, confirming its Str...
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share transfer 13 July 2026Noida Toll Bridge Company Limited disclosed a compliance certificate from its share transfer agent KFin Technologies for the quarter ended June 30, 20...
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Financial Results 26 June 2026Noida Toll Bridge Company Limited announced that its trading window will close on July 1, 2026, and remain closed until 48 hours after the un-audited ...
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regulation 31 19 June 2026IL&FS Transportation Networks Limited disclosed its shareholding in Noida Toll Bridge Company Limited as of March 31, 2026, reporting 4,90,95,007 equi...
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Announcement 22 May 2026Noida Toll Bridge Company Limited clarified that recent price movements in its shares are driven solely by market forces and contain no unpublished pr...
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🟡 Board Meeting 15 May 2026The Board approved standalone and consolidated audited financial results for Q4FY26 and FY26, showing consolidated revenue of **[amount context mismat...
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regulation 31 15 May 2026Noida Toll Bridge Company Limited disclosed a fine of **₹7,080** levied by NSE on May 14, 2026 for non-compliance with SEBI Regulation 31 under the Li...
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🔴 Financial Results 15 May 2026Noida Toll Bridge Company Limited reported consolidated revenue of ₹58.84 crore for FY26, up 38.09% year-on-year, driven by one-time exceptional incom...
🧠 Analyst's Read
The company has successfully reversed its financial trajectory from chronic losses to profitability, underpinned by legal victories and infrastructure maintenance progress. Key near-term catalysts include the AGM on September 21, 2026, and the resolution of the advertising fee dispute. Investors should monitor the implementation of the ₹20 crore preservation plan for DND Flyway and the board's approach to addressing the auditor's emphasis on loan-related interest provisions.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-08-03.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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