PNC Infratech Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 8567.13 Crore) operating in Infrastructure sector.
PNC Infratech Ltd. key Products/Revenue Segments include Contract Revenue, Material and Scrap for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company has reported a Consolidated Total Income of Rs 1825.48 Crore, up 22.94 % from last quarter Total Income of Rs 1484.81 Crore and up 43.62 % from last year same quarter Total Income of Rs 1271.05 Crore. Company has reported net profit after tax of Rs 132.06 Crore in latest quarter.
Investment Rationale
Road sector is witnessing significant development on the back of increased government thrust on infrastructure investment as well as due to the unveiling of the Gati Shakti Plan which will provide further momentum to the execution and avoid unnecessary delays. With the ongoing development in the entire infra space, a strong and diversified order book position, efficient execution prowess, asset monetization plan and a clean balance sheet, the brokerage expects the company’s Revenues/EBITDA/APAT to grow at a CAGR of 17%/18%/28% respectively over FY21-24E. It maintains a BUY on PNCIL and value EPC business at 13 x FY24E EPS and HAM portfolio at 1x book value to arrive at a target price of Rs 430, implying an upside of 30% from CMP.
Promoter/FII Holdings
Promoters held 56.07 per cent stake in the company as of 30-Sep-2021, while FIIs owned 11.57 per cent, DIIs 28.34 per cent.
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