PNC Infra Q2 Results Review - Diversification Is The Key: IDBI Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.PNC Infratech Ltd.'s Q2 FY25 operational results were lower than consensus estimates. Numbers were impacted from weak execution as adj. revenue declined by 58% YoY. The decline in revenue was due to delay in appointed date in certain projects and due to peak monsoon in some areas. Company has lowered their revenue guidance to -15% to -20% (earlier -10%) for FY25 as company is now disqualified for one year from bidding in MORTH & NHAI tenders. PNC Infra guides Ebitda margins around 12-12.5%. Company has started the year with strong set of order inflow and is level-one for orders of Rs 66 billion. Order book at Rs 199 billion equals to 2.8 times trailing twelve months revenue with 70% from road sector and remaining is from irrigation and water. We retain Hold rating on the stock with and lowered our target price to Rs 339, target price implies valuation of 10 times FY26E EPS. Stock catalyst is order win, from different state authorities and segments apart from NHAI/MORTH. Company has bidded in eight tender of railways, area development projects and airport development projects..Click on the attachment to read the full report:.NCC Q2 Results Review - Dismal H1 But Execution Set To Improve: Centrum.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

PNC Infra Q2 Results Review - Diversification Is The Key: IDBI Capital

The brokerage retain Hold rating on the stock with and lowered our target price to Rs 339, target price implies valuation of 10 times FY26E EPS.

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PNC Infra Q2 Results Review - Diversification Is The Key: IDBI Capital

The brokerage retain Hold rating on the stock with and lowered our target price to Rs 339, target price implies valuation of 10 times FY26E EPS.

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