PNC Infratech Ltd

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

PNC Infratech Ltd

₹ 433 -0.85%
19 Apr - close price
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 ₹ 11,111 Cr.
  • Current Price ₹ 433
  • High / Low ₹ 480 / 278
  • Stock P/E 17.6
  • Book Value ₹ 165
  • Dividend Yield 0.12 %
  • ROCE 22.0 %
  • ROE 16.7 %
  • Face Value ₹ 2.00
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Pros

Cons

  • Contingent liabilities of Rs.4,293 Cr.
  • Dividend payout has been low at 2.84% of profits over last 3 years
  • Debtor days have increased from 78.1 to 98.5 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

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,322 1,644 1,251 1,615 1,522 1,917 1,758 1,561 1,627 2,115 1,861 1,693 1,803
1,144 1,412 1,076 1,393 1,356 1,693 1,500 1,354 1,419 1,834 1,616 1,465 1,563
Operating Profit 179 232 175 222 165 225 258 207 208 281 245 228 239
OPM % 14% 14% 14% 14% 11% 12% 15% 13% 13% 13% 13% 13% 13%
24 17 18 17 11 8 8 10 10 11 8 6 4
Interest 15 15 18 24 21 17 17 15 16 15 16 19 17
Depreciation 28 30 31 33 34 32 27 27 28 28 25 26 26
Profit before tax 159 205 144 182 122 184 221 175 174 249 212 189 200
Tax % 35% 37% 35% 26% 33% 25% 25% 25% 26% 26% 26% 26% 25%
103 129 93 135 81 138 167 131 129 184 157 140 151
EPS in Rs 4.02 5.04 3.64 5.28 3.16 5.39 6.49 5.11 5.04 7.19 6.10 5.45 5.89
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,273 1,304 1,152 1,561 2,014 1,689 1,857 3,097 4,878 4,925 6,306 7,061 7,472
1,120 1,147 1,010 1,344 1,748 1,467 1,538 2,640 4,113 4,249 5,518 6,107 6,479
Operating Profit 153 157 142 217 266 223 319 457 765 677 787 954 993
OPM % 12% 12% 12% 14% 13% 13% 17% 15% 16% 14% 12% 14% 13%
7 3 10 14 25 45 23 43 88 71 54 38 28
Interest 24 23 23 46 40 20 31 64 114 77 80 64 67
Depreciation 19 23 25 36 57 53 77 92 126 112 130 110 105
Profit before tax 117 114 104 148 194 194 234 344 612 559 631 818 850
Tax % 33% 33% 33% 32% -21% -8% -7% 6% 25% 35% 29% 25%
78 76 70 100 235 210 251 325 460 362 448 611 632
EPS in Rs 3.94 3.84 3.53 5.04 9.15 8.17 9.79 12.67 17.94 14.11 17.46 23.84 24.63
Dividend Payout % 0% 4% 4% 6% 5% 6% 5% 4% 3% 4% 3% 2%
Compounded Sales Growth
10 Years: 18%
5 Years: 31%
3 Years: 13%
TTM: 9%
Compounded Profit Growth
10 Years: 23%
5 Years: 20%
3 Years: 13%
TTM: 12%
Stock Price CAGR
10 Years: %
5 Years: 23%
3 Years: 22%
1 Year: 53%
Return on Equity
10 Years: 15%
5 Years: 15%
3 Years: 15%
Last Year: 17%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 40 40 40 40 51 51 51 51 51 51 51 51 51
Reserves 454 527 589 679 1,327 1,521 1,755 2,064 2,495 2,857 3,289 3,890 4,175
271 254 275 353 12 169 170 375 327 403 230 460 539
269 298 376 506 500 652 810 1,226 1,537 1,545 1,732 1,669 1,875
Total Liabilities 1,034 1,117 1,280 1,578 1,890 2,394 2,786 3,716 4,410 4,857 5,302 6,070 6,640
111 114 153 210 213 348 406 615 588 656 589 535 507
CWIP 6 12 2 7 2 8 11 6 0 3 0 0 0
Investments 167 271 351 424 464 468 495 573 736 847 871 1,035 2,283
750 720 775 937 1,211 1,570 1,874 2,521 3,087 3,351 3,842 4,501 3,851
Total Assets 1,034 1,117 1,280 1,578 1,890 2,394 2,786 3,716 4,410 4,857 5,302 6,070 6,640

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-2 179 165 63 91 -9 321 370 813 273 308 -153
-150 -137 -101 -165 -79 -171 -155 -351 -231 -275 -308 -114
149 -42 -2 23 57 110 -65 127 -152 7 -280 153
Net Cash Flow -3 0 62 -79 68 -70 102 146 430 5 -281 -114

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 119 111 109 86 68 136 136 73 60 62 74 98
Inventory Days 134 104 100 142 94 67 75 101 45 58 55 83
Days Payable 77 143 67 69 38 103 199 118 79 117 58 74
Cash Conversion Cycle 176 73 142 159 125 100 12 55 26 3 71 108
Working Capital Days 133 102 112 122 95 129 113 71 53 55 82 107
ROCE % 22% 17% 15% 20% 18% 12% 14% 17% 25% 20% 20% 22%

Shareholding Pattern

Numbers in percentages

3 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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