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Axis Securities has buy call on with a target price of Rs 350. The current market price of PNC Infratech Ltd. is Rs 307.35. Time period given by analyst is 9 months when PNC Infratech Ltd. price can reach defined target.
PNC Infratech Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 7787.25 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 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 reported net profit after tax of Rs 132.06 Crore in latest quarter.
Investment Rationale
Considering strong and diversified order book position, healthy bidding pipeline, new order inflows, emerging opportunities in the construction space, and the company’s efficient and timely execution, the brokerage expects PNCIL to report Revenue/EBITDA/APAT CAGR of 17%/18%/28% respectively over FY21-FY24E. Stock is currently trading at 12x and 10x FY23E/FY24E EPS which is attractive.
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.
PNC Infratech Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 7787.25 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 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 reported net profit after tax of Rs 132.06 Crore in latest quarter.
Investment Rationale
Considering strong and diversified order book position, healthy bidding pipeline, new order inflows, emerging opportunities in the construction space, and the company’s efficient and timely execution, the brokerage expects PNCIL to report Revenue/EBITDA/APAT CAGR of 17%/18%/28% respectively over FY21-FY24E. Stock is currently trading at 12x and 10x FY23E/FY24E EPS which is attractive.
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.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
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