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    Buy PNC Infratech, target price Rs 410: Centrum Broking

    Synopsis

    PNC Infratech Ltd. key Products/Revenue Segments include Contract Revenue, Material and Scrap for the year ending 31-Mar-2022.

    ​PNC InfratechShutterstock.com
    Promoters held 56.07 per cent stake in the company as of 30-Jun-2022, while FIIs owned 10.48 per cent, DIIs 28.57 per cent.
    Centrum Broking has buy call on PNC Infratech with a target price of Rs 410. The current market price of PNC Infratech Ltd. is Rs 267.15.

    PNC Infratech Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 6858.57 Crore) operating in Infrastructure sector.

    PNC Infratech Ltd. key Products/Revenue Segments include Contract Revenue, Material and Scrap for the year ending 31-Mar-2022.


    Financials
    For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 1819.15 Crore, down -11.95 % from last quarter Total Income of Rs 2066.15 Crore and down -.35 % from last year same quarter Total Income of Rs 1825.48 Crore. Company reported net profit after tax of Rs 132.12 Crore in latest quarter.

    Investment Rationale
    The brokerage estimates revenue/EPS CAGR of 13.5/14.5% for PNC over FY22-25 led by strong backlog. Robust cash position and operating cash flows should be largely adequate to fund outstanding equity commitments of HAM projects. Over the years, PNC has created a strong track in project execution while maintaining stable margins and balance sheet integrity. Valuations are attractive at 10.2x/8.8x FY24/25E EPS without adjusting for value of assets. Maintain BUY with SOTP based PT of Rs410.momentum.

    Promoter/FII Holdings
    Promoters held 56.07 per cent stake in the company as of 30-Jun-2022, while FIIs owned 10.48 per cent, DIIs 28.57 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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