PNC Infratech Ltd. News and Updates

Name: Latest research reports of PNC Infratech Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: PNC Infratech Ltd.
Rating: 5
Author: ICICI Securities Limited

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PNC Infratech Ltd.

07 Feb 2020

305.70

0.59%

PNC Infratech

Buy: PNC Infratech Ltd.

Target

ICICI Securities Limited

PNC's order book (OB) was at | 8,696 crore as of Q3FY20, implying order book-to-bill ratio of 1.9x on TTM revenues, giving us comfort on revenue visibility ahead. This does not include Challakere-Hariyur project (BPC: | 1,157.0 crore) and EPC project in Uttar Pradesh under NHDP Phase-VII as appointed dates on these projects are awaited. The company has submitted bids for projects worth | 15,000 crore and has further identified 40 projects to bid for in Q4FY20. With this, it has maintained order inflows guidance of | 5,000-6,000 crore in FY20E. On the execution front, execution in six out of...

Axis Direct downgraded PNC Infratech Ltd. to Hold with a price target of 310.0 on 18 Aug, 2025.

PNC Infratech Ltd.

07 Feb 2020

305.70

0.59%

PNC Infratech (BUY): Strong execution; order inflows holds key for growth beyond FY21

Buy: PNC Infratech Ltd.

BOB Capital Markets Ltd.

PNC Infratech's (PNCL) Q3FY20 revenue grew 68% YoY.

Axis Direct downgraded PNC Infratech Ltd. to Hold with a price target of 310.0 on 18 Aug, 2025.

PNC Infratech Ltd.

20 Jan 2020

305.70

0.59%

PNC Infratech share price up 4% on on Rs 639-crore project win

Moneycontrol

The construction has to be completed in 24 months.

PNC Infratech Ltd. has an average target of 358.71 from 7 brokers.

PNC Infratech Ltd.

25 Nov 2019

305.70

0.59%

PNC INFRATECH LIMITED

Buy: PNC Infratech Ltd.

Geojit BNP Paribas

EBITDA margins improved by 844bps YoY at 21.8% while adj. for one-off EBITDA margin remain stable at 13.8%. In Q2FY20 PNC has bagged a fresh order of Rs1,062cr and Order book stood healthy at Rs9,877cr which is 2.3x TTM revenue, provides improved visibility. PAT grew by 489% YoY to Rs207cr due to strong margin, lower tax rate of 16% and higher other income....

PNC Infratech Ltd. is trading at high day volume of 2.0M.

PNC Infratech Ltd.

18 Nov 2019

305.70

0.59%

PNC Infratech

Buy: PNC Infratech Ltd.

Target

ICICI Securities Limited

Orderbook at strong | 9,877 crore as of Q2FY20 PNC's order book (OB) was at | 10,950 crore as of Q1FY20, implying order book-to-bill ratio of 2.3x on TTM revenues, providing strong revenue visibility ahead. The orderbook excludes Challakere-Hariyur project with BPC of | 1,157.0 crore and road project in UP worth | 1,062 crore for which LoA was received in Q2FY20. Going ahead, the management expects ordering activity to pick up pace from December, 2020 and is aiming at order inflows of | 6,000-7,000 crore in FY20E. On the execution front, execution...

Axis Direct downgraded PNC Infratech Ltd. to Hold with a price target of 310.0 on 18 Aug, 2025.

PNC Infratech Ltd.

17 Nov 2019

305.70

0.59%

PNC Infratech (BUY): Strong quarter, momentum to continue

Buy: PNC Infratech Ltd.

Target

BOB Capital Markets Ltd.

PNC Infratech's (PNCL) Q2FY20 core revenue ex-arbitral awards grew 92% YoY.

PNC Infratech Ltd. is trading at high day volume of 2.0M.

PNC Infratech Ltd.

16 Nov 2019

305.70

0.59%

PNC Infratech (2QFY20): Outperformance continues. Maintain BUY

Buy: PNC Infratech Ltd.

Target

HDFC Securities

PNC has been delivering robust performance for past 6-7qtrs as entire order backlog Rs 98.7bn (ex Rs 20bn Lucknow Ring Road and Karnataka HAM) has moved into execution. With Net D/E of 0.1x end 2QFY20, PNC is well placed to take up new HAM projects. Anticipating strong improvement PNC has increased fund/non-fund based limits to Rs 10/50bn. As NHAI bidding picks up PNC is well placed to bag new orders. NWC days has improved from 97days to 59 in 1HFY20. PNC is in talks with investors to sell under construction HAM portfolio. We maintain BUY. Key risks (1) Slowdown in NHAI ordering; (2) Delay in UP state projects awards. PNC has been delivering robust performance for past 6-7qtrs as entire order backlog Rs 98.7bn (ex Rs 20bn Lucknow Ring Road and Karnataka HAM) has moved into execution. With Net D/E of 0.1x end 2QFY20, PNC is well placed to take up new HAM projects. Anticipating strong improvement PNC has increased fund/non-fund based limits to Rs 10/50bn. As NHAI bidding picks up PNC is well placed to bag new orders. NWC days has improved from 97days to 59 in 1HFY20. PNC is in talks with investors to sell under construction HAM portfolio. We maintain BUY. Key risks (1) Slowdown in NHAI ordering; (2) Delay in UP state projects awards. PNC reported 2QFY20 Rev/EBIDTA/APAT beat of 13/12/5% respectively. We maintain BUY on PNC with a SOTP based TP of Rs 340/sh (18x FY21E EPS). We have cut our APAT estimate by 9/0.4% for FY20/21E to factor in high...

PNC Infratech Ltd. is trading below its 30 day SMA of 308.8

PNC Infratech Ltd.

16 Aug 2019

305.70

0.59%

PNC Infratech

Buy: PNC Infratech Ltd.

Target

ICICI Securities Limited

Order book stands at strong | 10,950 crore PNC's order book (OB) was at | 10,950 crore (excluding Challakere-Hariyur HAM project) as of Q1FY20, 3.5x FY19 revenues, providing strong revenue visibility ahead. With appointed date for two HAM projects received in Q4FY19, execution on six out of seven HAM projects is in full swing. Furthermore, the management expects six projects viz. Dausa Lalsot, Etah Kasganj, Varanasi Gorakhpur, Nanau Dadon etc. with total order backlog of ~| 600 crore to get completed in FY20E. With such strong execution, the...

PNC Infratech Ltd. is trading at high day volume of 2.0M.

PNC Infratech Ltd.

14 Aug 2019

305.70

0.59%

PNC Infratech (BUY): Execution par excellence; momentum to pick up further in H2

Buy: PNC Infratech Ltd.

Target

BOB Capital Markets Ltd.

PNC Infratech's (PNCL) Q1FY20 revenue surpassed expectations, scaling a new high of Rs 13.2bn (+86% YoY) fuelled by strong execution.

PNC Infratech Ltd. is trading below its 30 day SMA of 308.8

PNC Infratech Ltd.

29 May 2019

305.70

0.59%

PNC INFRATECH LIMITED

Buy: PNC Infratech Ltd.

Target

Geojit BNP Paribas

Q4FY19 revenue grew by 42% YoY to Rs1,076cr led by strong execution of big ticket order book. While FY19 revenue growth remain strong at 67% YoY to Rs3,097cr. The strong execution is likely to continue as PNC has already received appointed date for six HAM projects while Challakare to Hariyur project appointed date is awaited. The unexecuted potion of the HAM projects constitute 48% of the total order book. Total equity requirement for all HAM projects is Rs832cr of which PNC has already infused Rs232cr and balance will invest over the next two to three years. Additionally, Nagpur Mumbai...