BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
PNC Infratech Ltd.'s Q3 FY22 adjusted Ebitda came in-line with our and consensus estimate. Order inflow in year-to-date-FY22 has been muted at Rs 27 billion but the company expects pick up in Q4 FY22 and guided for FY22E inflow of Rs 80 billion.
Company has submitted 19 bids worth Rs 170 billion which is expected to open before March 2022. In addition to this, Ministry of Road Transport and Highways has changed bidding criteria which could reduce competitive intensity and favors players like PNC Infratech.
Post the result we have marginally reduce revenue estimate, this has resulted in earnings per share cut of 5-8% for FY23/24E. Stock has been weak due to its exposure in Uttar Pradesh which is under-going election.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR