PNC Infratech Q1 Results Review - Management Cuts Guidance For FY25: ICICI Securities

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..ICICI Securities Report.PNC Infratech reported a 30% YoY decline in revenues in Q1 FY25. Adjusted margin came in at 12.1% and adjusted profit declined by 30%. Note that reported profit was aided by bonus and claims of Rs 4.4 billion.Management highlighted that Q2 is also likely to be weak, as appointed date for a significant portion of the order book got delayed. As a result, management revised its guidance downwards for FY25 to a range of 0 to -10% YoY (from its earlier guidance of 15% growth YoY).Order inflow during the quarter stood at Rs 50 billion and book-to-bill ratio improved to 2.8 times.We maintain 'Add' with a revised target price of Rs 520 (earlier Rs 581), valuing the engineering, procurement, and construction business at 12 times FY26E EPC earnings and hybrid annuity model assets at ~1.5 times equity invested at end-FY26E..Click on the attachment to read the full report:.Patanjali Misleading Ads Case: Supreme Court Accepts Ramdev And Balkrishna's Apology.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 Infratech Q1 Results Review - Management Cuts Guidance For FY25: ICICI Securities

The brokerage expects bidding to pick up in FY25E once the effects of the general elections and union budget have worn off.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

PNC Infratech Q1 Results Review - Management Cuts Guidance For FY25: ICICI Securities

The brokerage expects bidding to pick up in FY25E once the effects of the general elections and union budget have worn off.

Choose a plan

Follow Us

DOWNLOAD THE APP