Sharekhan's research report on PNC Infratech
Standalone execution, OPM and net earnings continued to outperform in Q1FY23. Order backlog of over Rs. 20,000 crore, 3x TTM standalone revenues, remained strong. Management retained a 15% y-o-y standalone revenue growth, 13.5% OPM and Rs. 8000-10000 crore of order intake for FY2023. Management is continuing its discussions on divestments and expects a closure by FY2023-end.
We retain a Buy on PNC Infratech Limited (PNC) with an unchanged PT of Rs. 323, considering its strong growth potential over the next two years.
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