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Asset monetization on the cards Our view PNC Infratech Ltd (PNCL) 1QFY24 performance continue to be healthy with revenue growth of 8.2%with EBITDAM at 13.2%. PNCL has an order book of Rs149bn indicating revenue visibility for the next 1?2 years. Further for order inflow, company has maintained its guidance of Rs100bn in FY24E (till date has received orders worth Rs41bn). The company is in discussion with strategic investors for monetization of its HAM portfolio and expects the transacti...
Buy PNC Infratech Ltd For Target Rs.442- Yes Securities
Asset monetization plans on track PNC Infratech’s (PNC) 1QFY24 results were in-line with our estimates. PAT declined by 6% YoY to INR 1.57bn (estimate: INR 1.55bn; consensus: INR 1.6bn). PY financials include early completion bonus of INR 370mn and revenue from toll collection contract of INR 1bn and impacts YoY revenue growth and margins. Revenue grew by 6% YoY to INR 18.6bn (15% YoY growth on adjusted base). EBITDA margin declined by 30bps YoY on adjusted base to 13.2% (estimate: 1...
Buy PNC Infratech Ltd For Target Rs.475 - JM Financial
Strong results, Asset monetization on the horizon Our view PNC Infratech Ltd (PNCL) reported strong set of numbers beating our estimates by 20.7/24/48.1%. During Mar’23, the company has bagged 4 HAM projects (LOA already received). worth Rs40.8bn and expects to bag additional Rs100?120bn of order inflows led by robust pipeline primarily in road and water segment. On the balance sheet front, company has maintained net cash position, strong enough to fund HAM equity requir...
Buy PNC Infratech Ltd For Target Rs.442- Yes Securities
Margins to stabilise... PNC Infratech Ltd. (PNC) is an infrastructure construction, development and management company; expertise in execution of projects including highways, bridges, flyovers, airport runways, industrial areas and transmission lines. • PNC reported 12% top-line growth and 37% YoY PAT growth in FY23, led by a pick-up in execution and better operating margins. • EBITDA margin improved by 102bps to 13.5% in FY23 due to a better mix and a fall in other expense...
Small Cap Buy PNC Infratech Ltd For Target Rs. 382 - Geojit Financial Services
PNC Infratech is currently trading at Rs. 314.20, up by 10.05 points or 3.30% from its previous closing of Rs. 304.15 on the BSE. The scrip opened at Rs. 307.05 and has touched a high and low of Rs. 318.05 and Rs. 307.05 respectively. So far 32906 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 354.55 on 03-Feb-2023 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high ...
PNC Infratech soars on signing `Contract Agreement` with Haryana Orbital Rail Corporation
PNC Infratech is currently trading at Rs. 312.00, up by 5.40 points or 1.76% from its previous closing of Rs. 306.60 on the BSE. The scrip opened at Rs. 309.95 and has touched a high and low of Rs. 315.30 and Rs. 307.25 respectively. So far 31582 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 354.55 on 03-Feb-2023 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs....
PNC Infratech rises on incorporating wholly owned subsidiary
PNC Infratech is currently trading at Rs. 287.95, up by 1.95 points or 0.68% from its previous closing of Rs. 286.00 on the BSE. The scrip opened at Rs. 286.90 and has touched a high and low of Rs. 288.35 and Rs. 279.55 respectively. So far 3917 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 354.55 on 03-Feb-2023 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high an...
PNC Infratech gains on incorporating Wholly-owned Subsidiary
PNC Infratech is currently trading at Rs. 277.45, up by 0.45 points or 0.16% from its previous closing of Rs. 277.00 on the BSE. The scrip opened at Rs. 278.00 and has touched a high and low of Rs. 280.55 and Rs. 276.50 respectively. So far 26225 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 354.55 on 03-Feb-2023 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high and low of the scrip stood at R...
PNC Infratech rises on completing four laning of Koilwar to Bhoipur section of NH-30 & 84
PNC Infratech is currently trading at Rs. 291.50, up by 4.25 points or 1.48% from its previous closing of Rs. 287.25 on the BSE. The scrip opened at Rs. 294.40 and has touched a high and low of Rs. 295.00 and Rs. 291.00 respectively. So far 4594 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 354.55 on 03-Feb-2023 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs...
PNC Infratech rises on receiving LoA worth Rs 771.46 crore
PNC Infratech is currently trading at Rs. 282.30, up by 16.90 points or 6.37% from its previous closing of Rs. 265.40 on the BSE. The scrip opened at Rs. 272.90 and has touched a high and low of Rs. 286.30 and Rs. 271.65 respectively. So far 68625 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 354.55 on 03-Feb-2023 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high and low of the scrip stood at ...
PNC Infratech moves higher on emerging as L1 bidder for Uttar Pradesh project
PNC Infratech is currently trading at Rs. 291.55, up by 6.90 points or 2.42% from its previous closing of Rs. 284.65 on the BSE. The scrip opened at Rs. 299.90 and has touched a high and low of Rs. 299.90 and Rs. 290.40 respectively. So far 23649 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 354.55 on 03-Feb-2023 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high and low of the scrip stood at R...
PNC Infratech surges on emerging as L1 bidder for highway project in Bihar
PNC Infratech is currently trading at Rs. 296.15, up by 9.85 points or 3.44% from its previous closing of Rs. 286.30 on the BSE. The scrip opened at Rs. 295.00 and has touched a high and low of Rs. 298.45 and Rs. 287.15 respectively. So far 48368 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 354.55 on 03-Feb-2023 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high and low of the scrip stood at R...
PNC Infratech moves higher on emerging as L1 bidder for two highway projects
PNC Infratech is currently trading at Rs. 287.25, up by 4.50 points or 1.59% from its previous closing of Rs. 282.75 on the BSE. The scrip opened at Rs. 287.80 and has touched a high and low of Rs. 287.80 and Rs. 281.85 respectively. So far 14411 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 354.55 on 03-Feb-2023 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high and low of the scrip stood at R...
PNC Infratech shines on getting Provisional Certificate from NHAI
Bharat Forge is currently trading at Rs. 825.90, up by 1.80 points or 0.22% from its previous closing of Rs. 824.10 on the BSE. The scrip opened at Rs. 831.90 and has touched a high and low of Rs. 834.00 and Rs. 821.45 respectively. So far 12371 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 919.50 on 15-Dec-2022 and a 52 week low of Rs. 595.85 on 08-Mar-2022. Last one week high and low of the scrip stood at Rs...
Bharat Forge trades marginally higher as its arm inks pact to acquire 51% stake in Ferrovia
An All-Round Budget Delivering On All Aspirations Our honourable Finance Minister Nirmala Sitaraman presented the Union Budget 2023-34 today. Being the last full-year budget before the Union Election in 2024, the expectations from the Budget were naturally high and hence it was expected to be a growth-oriented budget. Against this backdrop, the Union Budget 2023-24 indeed lived up to its expectations, which was driven primarily by capital expenditure while simultaneously providing an adequ...
Union Budget : 2023-24 Post Budget Analysis & Stock Ideas By Axis Securities
Buy PNC Infratech Ltd CMP: Rs 317 | Target: Rs 382 (21%)| SL: Rs 275 Investment Rationale * Strong Order Book of Rs 19,000 Cr with Paced up Execution: On back of strong winning in recent, PNC Infratech holds an order book of Rs 19,000 Cr( as on Sep-2023). The order book depicts robust revenue visibility for company as it is 2.34(x) Order book and 2.44(x) TTM sales. Management has guided for Rs 10,000 Cr of order inflow for FY24, implies net order book Rs 20,424 Cr at FY24 end (post...
Stock of the week : Buy PNC Infratech Ltd For Target Rs.382 By GEPL Capital
Asset sale next deliverable PNC Infratech’s (PNC) Q2FY23 PAT at Rs1.31bn marginally beat estimate of Rs1.25bn due to lower interest expenses and higher margins. Standalone net cash position increased to Rs3.1bn from net cash of Rs1.6bn in June?22. NWC increased to 63 days in Sept?22 from very low levels of 45 days in Mar?22. While PNC has not received any inflows in &n...
Buy PNC Infratech Ltd For Target Rs.410 - Centrum Broking
Soft revenue but CF positive, fundamentals intact; retaining a Buy The prolonged monsoon, awaited appointed dates for its recent hybrid annuities and slow progress at the AP irrigation order meant PNC’s Q2 revenue was soft. With the entire hybrid annuity portfolio likely to be appointed in H2 and as more water-supply orders come under execution, Q2 softness is likely to be short-lived. Operating profitability is still healthy, and balance-sheet strength intact. Monetisation efforts a...
PNC Infratech : Soft revenue but CF positive, fundamentals intact; retaining a Buy - Anand Rathi Shares and Stock Brokers
Focus on receiving A.D crucial for growth Our view PNC Infratech Ltd (PNCL) reported revenue of Rs15.6bn (in line with estimates) while EBIDTA / PAT outperformed the estimates by 23%/37%. PNCL has an order book of Rs193bn indicating revenue visibility for the next 2?3 years. The company has signed 7 concessionaire agreements of newly awarded HAM projects and expects to achieve financial closure of the same by Q4. Water projects continue to see subdued execution, ...
Buy PNC Infratech Ltd For Target Rs.396- Yes Securities
PNC Infratech is currently trading at Rs. 267.15, up by 3.10 points or 1.17% from its previous closing of Rs. 264.05 on the BSE. The scrip opened at Rs. 264.05 and has touched a high and low of Rs. 269.00 and Rs. 262.80 respectively. So far 23573 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 329.80 on 17-Nov-2021 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high and low of the scrip stood at R...
PNC Infratech trades higher on the BSE
PNC Infratech is currently trading at Rs. 261.90, up by 8.35 points or 3.29% from its previous closing of Rs. 253.55 on the BSE. The scrip opened at Rs. 251.10 and has touched a high and low of Rs. 263.75 and Rs. 251.10 respectively. So far 6049 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 337.70 on 16-Nov-2021 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs...
PNC Infratech surges on handing over `EPE user fee collection mandate` to NCR Eastern Peripheral Expressway
PNC Infratech is currently trading at Rs. 294.55, up by 7.45 points or 2.59% from its previous closing of Rs. 287.10 on the BSE. The scrip opened at Rs. 298.10 and has touched a high and low of Rs. 303.80 and Rs. 293.30 respectively. So far 46633 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 395.55 on 13-Oct-2021 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high and low of the scrip stood at R...
PNC Infratech spurts on signing concession agreement with NHAI for HAM project
Strong growth momentum to continue Our view PNC Infratech (PNCL) reported strong set of numbers with revenues coming in above our estimates and EBITDAM coming at 14.7% (including one off income pertaining to early completion bonus of Rs370mn for Purvanchal Expressway package VI) excluding this EBITDA margin came in at 13.5%. During 1Q, the company has signed concessionaire agreement for 6 newly awarded HAM projects and expects to sign balance 1 HAM project by 2Q and expects...
Buy PNC Infratech Ltd For Target Rs.396- Yes Securities
PNC Infratech is currently trading at Rs. 256.70, up by 5.55 points or 2.21% from its previous closing of Rs. 251.15 on the BSE. The scrip opened at Rs. 252.30 and has touched a high and low of Rs. 258.00 and Rs. 250.55 respectively. So far 6249 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 395.55 on 13-Oct-2021 and a 52 week low of Rs. 219.35 on 20-Jun-2022. Last one week high and low of the scrip stood at Rs...
PNC Infratech shines on inking concession agreement with NHAI
Backlog strengthens; margin outlook sustained PNC Infratech’s (PNC) Q4FY22 recurring PAT at Rs1.44bn (up 11% YoY) was marginally below estimate of Rs1.5bn due to lower margins. Reported PAT grew by 7% YoY to Rs1.38bn as it included early completion bonus of Rs827m for Purvanchal e-way package-5 offset by impairment of investment of Rs903m in Ghaziabad Aligarh (GAEPL). Proceeds of Rs2.75bn from sale of GAEPL will supplement internal accruals for funding pending equity investments of R...
Buy PNC Infratech Ltd For Target Rs.416 - Centrum Broking
Order book provides visibility... PNC Infratech Ltd (PNC) is an Infrastructure construction, development and management company; expertise in execution of projects including highways, bridges, flyovers, airport runways, industrial areas and transmission lines. * PNC reported a revenue growth of 17% YoY in Q4FY22 led by a pick up in execution. * However, EBITDA margin declined by 241bps to 11.7% due to higher RM costs and the adjustment for impairment of Rs90.33cr related to Ghaziabad...
Small Cap: Buy PNC Infratech Ltd For Target Rs.315 - Geojit Financial Services
Disciplined contractor Our view PNC Infratech (PNCL) reported strong set of numbers with revenues coming in above our estimates, while EBITDAM coming below our estimate to 11.7%. Toll collection grew 84.9% YoY as 5 HAM projects has received COD and started receiving annuity. During Mar’22, the company has bagged 7 HAM projects (LOA already received) worth Rs84.5bn and expects to bag additional Rs80‐100bn of order inflows led by robust pipeline primarily in road segment...
Buy PNC Infratech Ltd For Target Rs.392 - Yes Securities
PNC Infratech is currently trading at Rs. 254.15, up by 10.25 points or 4.20% from its previous closing of Rs. 243.90 on the BSE. The scrip opened at Rs. 247.85 and has touched a high and low of Rs. 254.50 and Rs. 247.50 respectively. So far 12909 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 395.55 on 13-Oct-2021 and a 52 week low of Rs. 217.50 on 06-May-2021. Last one week high and low of the scrip stood at ...
PNC Infratech soars on getting Rs 37 crore as bonus for early completion of EPC projects
PNC Infratech is currently trading at Rs. 246.60, up by 2.60 points or 1.07% from its previous closing of Rs. 244.00 on the BSE. The scrip opened at Rs. 245.80 and has touched a high and low of Rs. 250.45 and Rs. 239.60 respectively. So far 33502 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 395.55 on 13-Oct-2021 and a 52 week low of Rs. 217.50 on 06-May-2021. Last one week high and low of the scrip stood at R...
PNC Infratech jumps on bagging new hybrid annuity highway project for Rs 738 crore
HAM monetisation – key trigger ahead About the stock: PNC Infratech has established itself as a strong executor in roads, water infra and airport runway segments. Additionally, superior execution capabilities via ownership of modern equipment and in-house teams enables PNC to deliver projects on-time. PNC has executed 70 major infrastructure projects till date. Reported 19.8% revenue CAGR during FY16-21; operating margin was in the range of 13-15% Proficient execution, robust r...
Buy PNC Infratech Ltd For Target Rs.390 - ICICI Direct
PNC Infratech is currently trading at Rs. 264.40, up by 3.55 points or 1.36% from its previous closing of Rs. 260.85 on the BSE. The scrip opened at Rs. 260.85 and has touched a high and low of Rs. 274.90 and Rs. 258.05 respectively. So far 47571 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 395.55 on 13-Oct-2021 and a 52 week low of Rs. 217.50 on 06-May-2021. Last one week high and low of the scrip stood at R...
PNC Infratech rises on emerging as L1 bidder for highway project in UP
Focus on order intake PNC Infratech (PNC) posted Q3FY22 revenue growth of 15% YoY; it provided ~INR390mn for impairment of investments which led to PAT declining 22% YoY. The company has an order book of ~INR144bn (book-to-bill of ~2.4x) and needs to shore this up to enhance revenue visibility. Balance sheet remains healthy while toll collection improved 3% YoY during the quarter. PNC’s increasing exposure to the water segment (34% of the order book) is positive in light of muted inc...
Buy PNC Infratech Ltd For Target Rs.395 - Edelweiss Financial Services
Healthy performance PNC Infratech (PNC) posted Q2FY22 revenue/PAT growth of 53%/95% YoY with a lower tax rate aiding PAT. The company has an order book of ~INR132bn (book-to-bill of ~2.3x) and needs to shore this up to enhance revenue visibility; balance sheet remains healthy with nil net debt. Toll collection improved 9% YoY during the quarter. We believe PNC is well placed to benefit from the government’s thrust on infra. All in all, we are revising up FY22E/FY23E earnings by 17...
Buy PNC Infratech Ltd For Target Rs.395 - Edelweiss Financial Services
Healthy performance... PNC Infratech Ltd (PNC) is an Infrastructure construction, development and management company; expertise in execution of projects including highways, bridges, flyovers, airport runways, industrial areas and transmission lines. * PNC reported a strong top-line growth of 53% YoY in Q2FY22 led by a ramp-up in execution. * EBITDA margin improved by 23bps to 13.7% aided favourable project mix and lower employee cost (as a % of revenue). * PNC has not received any...
Small Cap : Buy PNC Infratech Ltd For Target Rs.370 - Geojit Financial
Execution to ramp up going ahead PNC Infratech’s (PNCL) Q1FY22 standalone EPC revenue was up 38% YoY to Rs12.5bn owing to base effect of previous year which saw a complete lockdown. The company retains its comfortable standalone net cash position of Rs3.0bn as of Jun’21. With an order book of Rs155bn (3.2x FY21 EPC revenue including L1 order wins) and appointed dates expected for large orders in FY22, PNCL is targeting 25- 30% EPC revenue growth in FY22E after clocking flatt...
Buy PNC Infratech Ltd For Target Rs.380 - ICICI Securities
Steady performance PNC Infratech’s (PNC) operating performance was largely in line with estimate. PAT grew 55% YoY to Rs933mn below estimate of Rs1.06bn led by write-off of MAT credit of Rs104mn on migration to the new corporate tax rate. Revenue grew 38% YoY to Rs12.5bn (estimate: Rs13.5bn) and EBITDA grew 47% YoY to Rs1.75bn (in-line), with EBITDA margin expanding 80bp YoY to 14% (estimate: 13.2%). While working capital levels increased leverage remained comfortable with net cas...
Buy PNC Infratech Ltd For Target Rs.381 - Centrum Broking
Execution to ramp up going ahead PNC Infratech’s (PNCL) Q4FY21 standalone EPC revenue was up 42% YoY and 24% QoQ to Rs16.4bn owing to pick up in execution across projects. PNCL’s net working capital days have remained stable in FY21 at 51 days vs. 57 days in FY20 and the company retains its comfortable standalone net cash position of Rs3.9bn as of Mar’21. With an order book of Rs166bn (3.4x FY21 EPC revenue including L1 order wins) and appointed dates expected for large o...
Buy PNC Infratech Ltd For Target Rs. 317 - ICICI Securities
Strong performance; healthy guidance! PNC Infratech’s (PNC) execution was robust, with a stronger than expected topline and higher margins led by operating leverage. Topline came in at | 1644 crore, up ~42% YoY, driven by improved executable order book and optimum labour availability. The consequent margin was at 14.1% (up 63 bps YoY), led by operating leverage. PAT came in at | 129.4 crore, up 70% YoY, led by a strong operating performance, lower interest costs and despite higher ta...
Buy PNC Infratech Ltd For Target Rs. 300 - ICICI Direct
Ramp-up in execution... PNC Infratech Ltd (PNC) is an Infrastructure construction, development and management company; expertise in execution of projects including highways, bridges, flyovers, airport runways, industrial areas and transmission lines. * PNC reported a strong revenue growth of 42% YoY in Q4FY21 (better than estimate) as project execution improved due to normalcy in operation post Covid. * Order book (incl. L1) remains healthy at Rs16,000cr which is 3.3x FY21 revenue, p...
Small Cap : Buy PNC Infratech Ltd For Target Rs.310 - Geojit Financial
Result Highlights * PNC Infratech (PNC) posted revenue growth of 42.0% yoy and 24.3% qoq driven by a sharp pickup in execution. The Company recovered the revenue lost during H1 due to COVID and ended FY21 with revenue of Rs.49.2 bn almost flat yoy. * Operating margin has also seen an improvement and stood at 14.1% in Q4 FY21, up by 63 bps yoy & qoq. There has not been any major impact of inflation in raw material cost as all its EPC & HAM projects has escalation clause. Going fo...
Buy PNC Infratech Ltd For Target Rs.338 - Yes Securities
PNC Infratech is currently trading at Rs. 241.75, up by 6.25 points or 2.65% from its previous closing of Rs. 235.50 on the BSE. The scrip opened at Rs. 238.00 and has touched a high and low of Rs. 242.75 and Rs. 233.10 respectively. So far 20627 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 291.00 on 11-Feb-2021 and a 52 week low of Rs. 100.95 on 28-May-2020. Last one week high and low of the scrip stood at R...
PNC Infratech jumps on getting appointed date for EPC project from NHAI
Execution to ramp up going ahead PNC Infratech’s (PNCL) Q3FY21 standalone EPC revenue was up 9% YoY and 26% QoQ to Rs13.2bn owing to pick up in execution across projects. PNCL’s net working capital days declined by 18 days QoQ to 67 days and company retains its comfortable standalone net cash position of Rs4.6bn as of Dec-20. With an order book of Rs180bn (3.7x FY20 EPC revenue including L1 order wins) and appointed dates expected for 6-7 large orders in Q4FY21, PNCL is target...
Buy PNC Infratech Ltd For Target Rs.322 - ICICI
In-line quarter PNC Infratech (PNC) delivered an in-line 3QFY21 financial performance. Management commentary was upbeat on (1) FY21/22E order inflows pegged at Rs 100bn, (2) revenue guidance maintained at flattish YoY, (3) NWC improvement in 3QFY21, (4) initiation of talks on BOT/HAM asset part monetisation over next few quarters, (5) healthy NHAI bid-pipeline for FY22E/FY23E, and (6) growth backed by low peak debt levels of Rs 4.5bn. Valuations are supportive at 9.2/7.7x FY22/23...
Buy PNC Infratech Ltd For Target Rs.338 - HDFC Securities
In-line quarter PNC Infratech (PNC) delivered an in-line 3QFY21 financial performance. Management commentary was upbeat on (1) FY21/22E order inflows pegged at Rs 100bn, (2) revenue guidance maintained at flattish YoY, (3) NWC improvement in 3QFY21, (4) initiation of talks on BOT/HAM asset part monetisation over next few quarters, (5) healthy NHAI bid-pipeline for FY22E/FY23E, and (6) growth backed by low peak debt levels of Rs 4.5bn. Valuations are supportive at 9.2/7.7x FY22/23E (core EP...
Buy PNC Infratech Ltd For Target Rs. 338 - HDFC Securities
Execution is gaining momentum... PNC Infratech Ltd (PNC) is an Infrastructure construction, development and management company; expertise in execution of projects including highways, bridges, flyovers, airport runways, industrial areas and transmission lines. * PNC reported a revenue growth of 8.6% YoY in Q3FY21 (in-line with estimate) due to strong execution with labour availability at 100% pre-Covid level. * EBITDA margins marginally declined by 56bps to 13.5% due to increase in c...
Small Cap : Buy PNC Infratech Ltd For Target Rs.339 - Geojit Financial
Well placed to deliver ‐ BUY Conference call takeaways * PNC’s execution during Q3 FY21 was robust with monsoon ending and certain projects moving under execution. The better labor availability also helped execution during the quarter. The company managed to maintain its operating margin at ~13%. Going forward, PNC expects margins to remain at 13.5‐14% levels. * Considering the current pace of execution and better labor availability, the Management now expects to clo...
Buy PNC Infratech Ltd For Target Rs.320 - Yes Securities
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