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PNC Infratech: Strong earnings growth and low valuation draw attention

Low valuation and high earnings visibility offer scope for PNC Infratech stock appreciation

January 12, 2021 / 09:57 PM IST
PNC Infratech: Strong earnings growth and low valuation draw attention

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PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Highlights - Strong recovery in execution leads to better earnings outlook - Order pipeline improves, gives strong revenue visibility - Expect jump in earnings growth over the next few quarters - Attractively trading at 7 times fiscal 2022 estimated earnings Competitive intensity has dropped in the construction space during the pandemic and companies such as PNC Infratech (CMP: Rs 192.5 Market Cap: Rs 4,938 crore), with a strong balance sheet and a worthy execution record, have benefitted. The company has got orders worth Rs 4200 crore in the...

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