Centrum Broking: PNC Infratech Annual Report Analysis - Strong All-Round Performance
Construction cranes in Switzerland. (Photographer Stefan Wermuth/Bloomberg)

Centrum Broking: PNC Infratech Annual Report Analysis - Strong All-Round Performance

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Centrum Broking Report

PNC Infratech Ltd.’s FY20 standalone revenue/profit after tax grew 55.3%/36% YoY to Rs 47.7 billion/ Rs 3.3 billion driven by strong order book.

Gross Debt reduced by Rs 480 million to Rs 3.3 billion while cash levels surged to Rs 7.4 billion led by higher mobilization advances (up Rs 2.8 billion YoY) and improved recoveries.

Consolidated profit after tax grew 56% YoY to Rs 5.5 billion.

Net working capital levels (excluding-cash, excluding-loans/sub-debt to subs) declined sharply to 15 days in FY20 from 67 days in FY19 but are likely to revert to 60-65 days in FY21.

Receivables rose to Rs 8 billion from Rs 6.2 billion but reduced from 73 days to 61 days of revenue.

Receivables from own special purpose vehicles at Rs 6.2 billion were 77% of the total with third party receivables declining from Rs 4.5 billion in FY19 to Rs 1.8 billion FY20.

Click on the attachment to read the full report:

Centrum Broking PNC Infratech Annual Report Update.pdf

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