Sharekhan's research report on PNC Infratech
The company reported broadly in-line standalone revenues despite the period getting affected by extended monsoons. Adjusted OPM stayed in-line. Standalone net profit was up 60% y-o-y. Management lowered FY2023 revenue growth guidance to 10% due to extended monsoons while upped FY2024 to 15% with receipt of appointed dates for five out of seven HAM projects. OPM to stay at 13.3-13.5%. Order inflow target for FY2023 retained at Rs. 8000-10000 crore considering strong bid pipeline of Rs. 1.1 lakh crore before March 2023. Asset monetization continue to remain on anvil.
Outlook
We retain a Buy on PNC Infratech Limited (PNC) with a revised PT of Rs. 390, rolling forward our valuation multiple to FY2025E earnings.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
