PNC Infratech Q4 Review - Ramp-Up In Execution: Geojit
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Geojit Research Report
PNC Infratech Ltd. is an Infrastructure construction, development and management company; expertise in execution of projects including highways, bridges, flyovers, airport runways, industrial areas and transmission lines.
The company reported a strong revenue growth of 42% YoY in Q4 FY21 (better than estimate) as project execution improved due to normalcy in operation post Covid-19.
Order book (including level-one) remains healthy at Rs 16,000 crore which is 3.3 times FY21 revenue, provides revenue visibility for two to three years.
Ebitda margin improved by 63 basis points to 14.1% aided by higher execution and lower employee cost (as a % of revenue).
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