PNC Infratech Q1 Review - In Line Performance; Healthy Outlook: ICICI Direct

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. .ICICI Direct Report.PNC Infratech Ltd.’s numbers were largely in line with our estimates.Order book at the end of Q1 FY22 was at Rs 12,095 crore. However, this order book excludes water and irrigation projects worth Rs 3,427 crore wherein the execution is yet to be started. Including these projects, the order book is robust at ~Rs 15,520 crore and provides revenue visibility over the next three years. The order book is well diversified with hybrid annuity model, engineering, procurement and construction, water and irrigation forming 57%, 33%, 10%, respectively. We expect execution to stay robust with appointed date received for all road projects coupled with likely pick-in execution in water/irrigation projects. We highlight that PNC Infratech has guided for ~20-25% revenues growth in FY22 and margins in the range of 13.5-14%..Click on the attachment to read the full report:.DISCLAIMERThis 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.

PNC Infratech Q1 Review - In Line Performance; Healthy Outlook: ICICI Direct

PNC Infratech Q1 Review - In Line Performance; Healthy Outlook: ICICI Direct

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