PNC Infratech Ltd
PNC Infratech Limited was incorporated on 9th August 1999 as PNC Construction Company Private Limited. The Company was converted into a limited company in 2001 and was renamed PNC Infratech limited in 2007. PNC Infratech Limited is one of the front-ending infrastructure development, construction, and management companies in the country. The company undertakes infrastructure projects, including highways, bridges, flyovers, power transmission lines and towers, airport runways, industrial area development, and other infrastructure activities.[1]
- Market Cap ₹ 11,760 Cr.
- Current Price ₹ 458
- High / Low ₹ 480 / 303
- Stock P/E 17.8
- Book Value ₹ 180
- Dividend Yield 0.11 %
- ROCE 14.8 %
- ROE 16.2 %
- Face Value ₹ 2.00
Pros
Cons
- Contingent liabilities of Rs.4,293 Cr.
- Dividend payout has been low at 2.25% of profits over last 3 years
- Debtor days have increased from 36.3 to 50.4 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Infrastructure Developers & Operators Industry: Construction
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1,273 | 1,306 | 1,360 | 1,861 | 2,837 | 2,252 | 2,411 | 3,774 | 5,603 | 5,788 | 7,208 | 7,956 | 8,355 | |
1,120 | 1,148 | 1,184 | 1,581 | 2,214 | 1,647 | 1,648 | 2,768 | 4,275 | 4,366 | 5,674 | 6,356 | 6,676 | |
Operating Profit | 153 | 157 | 176 | 280 | 622 | 605 | 763 | 1,007 | 1,328 | 1,422 | 1,534 | 1,600 | 1,679 |
OPM % | 12% | 12% | 13% | 15% | 22% | 27% | 32% | 27% | 24% | 25% | 21% | 20% | 20% |
7 | 3 | 11 | 12 | 12 | 39 | 24 | 47 | 182 | 107 | 87 | 81 | 81 | |
Interest | 24 | 25 | 61 | 93 | 257 | 310 | 309 | 348 | 439 | 426 | 425 | 470 | 611 |
Depreciation | 19 | 23 | 40 | 60 | 213 | 242 | 262 | 346 | 351 | 363 | 390 | 253 | 189 |
Profit before tax | 117 | 112 | 85 | 139 | 164 | 92 | 216 | 360 | 719 | 740 | 806 | 957 | 960 |
Tax % | 33% | 33% | 41% | 34% | -27% | -28% | -12% | 2% | 24% | 33% | 28% | 31% | |
78 | 75 | 51 | 91 | 209 | 118 | 243 | 351 | 550 | 497 | 580 | 658 | 660 | |
EPS in Rs | 3.94 | 3.75 | 2.77 | 4.59 | 8.13 | 4.61 | 9.47 | 13.70 | 21.43 | 19.39 | 22.62 | 25.67 | 25.71 |
Dividend Payout % | 0% | 4% | 5% | 7% | 6% | 11% | 5% | 4% | 2% | 3% | 2% | 2% |
Compounded Sales Growth | |
---|---|
10 Years: | 20% |
5 Years: | 27% |
3 Years: | 12% |
TTM: | 6% |
Compounded Profit Growth | |
---|---|
10 Years: | 24% |
5 Years: | 22% |
3 Years: | 6% |
TTM: | -13% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 22% |
3 Years: | 23% |
1 Year: | 42% |
Return on Equity | |
---|---|
10 Years: | 16% |
5 Years: | 18% |
3 Years: | 17% |
Last Year: | 16% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 40 | 40 | 40 | 40 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 |
Reserves | 454 | 548 | 670 | 831 | 1,307 | 1,410 | 1,637 | 1,973 | 2,503 | 3,002 | 3,577 | 4,234 | 4,561 |
372 | 588 | 1,025 | 1,692 | 1,649 | 1,906 | 2,021 | 2,775 | 3,515 | 4,192 | 4,793 | 6,282 | 7,082 | |
176 | 246 | 286 | 534 | 1,829 | 1,851 | 2,192 | 2,455 | 2,421 | 2,330 | 2,224 | 2,066 | 2,255 | |
Total Liabilities | 1,042 | 1,422 | 2,021 | 3,097 | 4,835 | 5,219 | 5,902 | 7,254 | 8,490 | 9,575 | 10,645 | 12,632 | 13,949 |
111 | 444 | 649 | 683 | 2,447 | 2,405 | 2,279 | 2,234 | 1,978 | 1,797 | 1,482 | 1,291 | 1,236 | |
CWIP | 193 | 296 | 593 | 1,482 | 2 | 8 | 11 | 6 | 0 | 3 | 0 | 0 | 0 |
Investments | 51 | 92 | 105 | 94 | 66 | 103 | 169 | 263 | 444 | 579 | 424 | 312 | 275 |
688 | 590 | 674 | 838 | 2,320 | 2,703 | 3,443 | 4,752 | 6,068 | 7,196 | 8,740 | 11,030 | 12,438 | |
Total Assets | 1,042 | 1,422 | 2,021 | 3,097 | 4,835 | 5,219 | 5,902 | 7,254 | 8,490 | 9,575 | 10,645 | 12,632 | 13,949 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
-43 | 318 | 139 | 247 | 94 | 285 | 591 | 197 | 525 | 190 | -499 | -1,454 | |
-204 | -502 | -555 | -968 | -170 | -202 | -252 | -444 | -230 | -252 | 25 | 343 | |
250 | 212 | 458 | 647 | 117 | -135 | -211 | 400 | 254 | 63 | 148 | 1,005 | |
Net Cash Flow | 4 | 28 | 42 | -74 | 41 | -51 | 129 | 153 | 549 | 1 | -326 | -106 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 99 | 67 | 51 | 52 | 53 | 106 | 90 | 50 | 19 | 25 | 34 | 50 |
Inventory Days | 134 | 107 | 89 | 132 | 94 | 67 | 75 | 101 | 45 | 58 | 55 | 83 |
Days Payable | 77 | 143 | 74 | 66 | 82 | 120 | 203 | 120 | 80 | 118 | 59 | 75 |
Cash Conversion Cycle | 156 | 31 | 66 | 118 | 66 | 52 | -37 | 31 | -17 | -36 | 30 | 59 |
Working Capital Days | 125 | 65 | 63 | 67 | 47 | 69 | 20 | 17 | -9 | 9 | 23 | 47 |
ROCE % | 20% | 14% | 10% | 11% | 15% | 13% | 15% | 16% | 21% | 17% | 15% | 15% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 20h
- Intimation On Extension Of Concession Period Of Gwalior Bhind BOT-Toll Project Being Implemented By One Of The Subsidiaries (Special Purpose Vehicles) Of PNC Infratech Limited 2d
- Board Meeting Intimation for Notice Of Board Meeting 14 May
- Intimation Regarding Execution Of Settlement Agreement Between National Highways Authority Of India (NHAI) And PNC Kanpur Highways Limited, A Subsidiary Of The Company Under Section 73(2) Of The Arbitration And Conciliation Act, 1996 In Terms Of The 'Vivad Se Vishwas II (Contractual Disputes)' Scheme Of Government Of India For An Amount Of Rs. 398,60,04,430.00 To Be Received From NHAI 9 May
- Receipt Of Provisional Completion Certificate (PCOD) For 'Four Laning Of Meerut - Najibabad Section From Km 11.500 (Design Chainage 11.500 Meerut) To Km 39+240 (Design Chainage 39.250 Behsuma) And From Km 86.590 (Design Chainage 79.500 Bijnor) To Km 112.545 (Design Chainage 105.700 Jalalabad) Of NH - 119 (New NH - 34) In The State Of Uttar Pradesh Under Bharatmala Pariyojna On Hybrid Annuity Mode 7 May
Annual reports
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Financial Year 2010
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Concalls
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Business Overview:[1]
PNC Infratech Limited provides infrastructure implementation solutions that include engineering, procurement, and construction ("EPC") services on a fixed-sum turnkey basis as well as on an item rate basis. It also executes and implements projects on a "Design-Build- Finance-Operate-Transfer" ("DBFOT"), Operate-Maintain-Transfer ("OMT"), Hybrid Annuity Mode (HAM) and other PPP formats. In the case of BOT and HAM, the company bid as a sponsor either alone or in the joint venture with other ventures and once the project is awarded then it is executed by incorporating a special purpose vehicle.