PNC Infratech Ltd

PNC Infratech Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

PNC Infratech Ltd

₹ 487 1.96%
03 Jul 10:55 a.m.
pncinfratech.com BSE: 539150 NSE: PNCINFRA
About

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]

Key Points

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.

Website BSE NSE
  • Market Cap ₹ 12,491 Cr.
  • Current Price ₹ 487
  • High / Low ₹ 575 / 310
  • Stock P/E 13.8
  • Book Value ₹ 202
  • Dividend Yield 0.10 %
  • ROCE 16.1 %
  • ROE 19.2 %
  • Face Value ₹ 2.00
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Pros

  • Company has delivered good profit growth of 22.4% CAGR over last 5 years

Cons

  • Contingent liabilities of Rs.4,293 Cr.
  • Debtor days have increased from 51.0 to 68.9 days.
  • Working capital days have increased from 48.4 days to 75.6 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
1,864 1,463 1,798 1,722 2,226 2,053 1,795 1,803 2,305 2,092 1,911 2,047 2,600
1,444 1,100 1,432 1,396 1,746 1,535 1,469 1,459 1,894 1,655 1,512 1,615 1,864
Operating Profit 420 363 366 325 480 518 326 345 411 436 400 432 736
OPM % 23% 25% 20% 19% 22% 25% 18% 19% 18% 21% 21% 21% 28%
24 22 28 18 19 13 24 20 24 20 21 17 24
Interest 102 103 107 103 112 107 108 122 133 147 161 169 183
Depreciation 89 99 97 116 79 104 48 44 57 48 41 44 44
Profit before tax 253 183 190 124 309 321 194 198 244 262 219 235 533
Tax % 40% 38% 30% 37% 17% 25% 32% 30% 40% 31% 32% 21% 26%
150 118 132 83 247 241 132 140 146 181 148 185 396
EPS in Rs 5.86 4.59 5.16 3.23 9.64 9.38 5.15 5.45 5.69 7.04 5.77 7.21 15.43
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
1,306 1,360 1,861 2,837 2,252 2,411 3,774 5,603 5,788 7,208 7,956 8,650
1,148 1,184 1,581 2,214 1,647 1,648 2,768 4,275 4,366 5,674 6,356 6,645
Operating Profit 157 176 280 622 605 763 1,007 1,328 1,422 1,534 1,600 2,005
OPM % 12% 13% 15% 22% 27% 32% 27% 24% 25% 21% 20% 23%
3 11 12 12 39 24 47 182 107 87 81 82
Interest 25 61 93 257 310 309 348 439 426 425 470 660
Depreciation 23 40 60 213 242 262 346 351 363 390 253 177
Profit before tax 112 85 139 164 92 216 360 719 740 806 957 1,249
Tax % 33% 41% 34% -27% -28% -12% 2% 24% 33% 28% 31% 27%
75 51 91 209 118 243 351 550 497 580 658 909
EPS in Rs 3.75 2.77 4.59 8.13 4.61 9.47 13.70 21.43 19.39 22.62 25.67 35.45
Dividend Payout % 4% 5% 7% 6% 11% 5% 4% 2% 3% 2% 2% 2%
Compounded Sales Growth
10 Years: 20%
5 Years: 18%
3 Years: 14%
TTM: 9%
Compounded Profit Growth
10 Years: 33%
5 Years: 22%
3 Years: 25%
TTM: 42%
Stock Price CAGR
10 Years: %
5 Years: 19%
3 Years: 18%
1 Year: 45%
Return on Equity
10 Years: 17%
5 Years: 18%
3 Years: 18%
Last Year: 19%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 40 40 40 51 51 51 51 51 51 51 51 51
Reserves 548 670 831 1,307 1,410 1,637 1,973 2,503 3,002 3,577 4,234 5,134
588 1,025 1,692 1,649 1,906 2,021 2,775 3,515 4,192 4,793 6,282 8,025
246 286 534 1,829 1,851 2,192 2,455 2,421 2,330 2,224 2,066 2,400
Total Liabilities 1,422 2,021 3,097 4,835 5,219 5,902 7,254 8,490 9,575 10,645 12,632 15,610
444 649 683 2,447 2,405 2,279 2,234 1,978 1,797 1,482 1,291 1,159
CWIP 296 593 1,482 2 8 11 6 0 3 0 0 0
Investments 92 105 94 66 103 169 263 444 579 424 312 511
590 674 838 2,320 2,703 3,443 4,752 6,068 7,196 8,740 11,030 13,940
Total Assets 1,422 2,021 3,097 4,835 5,219 5,902 7,254 8,490 9,575 10,645 12,632 15,610

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
318 139 247 94 285 591 197 525 190 -499 -1,454 -231
-502 -555 -968 -170 -202 -252 -444 -230 -252 25 343 -250
212 458 647 117 -135 -211 400 254 63 148 1,005 1,067
Net Cash Flow 28 42 -74 41 -51 129 153 549 1 -326 -106 586

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 67 51 52 53 106 90 50 19 25 34 50 69
Inventory Days 107 89 132 94 67 75 101 45 58 55 83 50
Days Payable 143 74 66 82 120 203 120 80 118 59 75 62
Cash Conversion Cycle 31 66 118 66 52 -37 31 -17 -36 30 59 57
Working Capital Days 65 63 67 47 69 20 17 -9 9 23 47 76
ROCE % 14% 10% 11% 15% 13% 15% 16% 21% 17% 15% 15%

Shareholding Pattern

Numbers in percentages

2 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
56.07% 56.07% 56.07% 56.07% 56.07% 56.07% 56.07% 56.07% 56.07% 56.07% 56.07% 56.07%
9.32% 11.57% 10.88% 9.99% 10.48% 9.77% 9.32% 9.52% 10.26% 10.78% 10.98% 11.85%
29.17% 28.33% 28.92% 26.83% 28.57% 29.10% 29.58% 29.39% 28.50% 28.10% 27.24% 26.96%
5.44% 4.03% 4.13% 7.11% 4.88% 5.06% 5.04% 5.03% 5.18% 5.06% 5.72% 5.12%
No. of Shareholders 61,17550,05462,45477,87978,22276,84074,78077,01475,53079,24392,70698,897

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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