ICICI Direct has given a buy rating to PNC Infratech with a target price of Rs 200. The share price moved down by 1.44 per cent from its previous close of Rs 166.35. The stock’s last traded price is Rs 163.95.

PNC Infratech Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 4232.90 Crore) operating in Infrastructure sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 1092.81 Crore, down 18.85 % from last quarter Sales of Rs 1346.70 Crore and down 28.32 % from last year same quarter Sales of Rs 1524.52 Crore. The Company reported net profit after tax of Rs 94.79 Crore in latest quarter.

Investment Rationale
PNC’s performance will be impacted partially by heavy monsoon. The brokerage expects reported topline decline of ~13.8% to Rs 1017 crore Adjusted for one-off, Rs 109.5 crore as arbitration claim for Hapur-Moradabad project in the base quarter, decline is modest 5% YoY. EBITDA margins are expected at 13.2%, down 60 bps YoY on an adjusted basis. PAT is expected to de-grow ~68% YoY to | 66 crore given the one-offs in base quarter.Key Monitorable: Management commentary on order inflows, progress on HAM projects


Promoter/FII Holdings
Promoters held 56.1 per cent stake in the company as of June 30, 2020, while FIIs held 6.4 per cent, DIIs 22.8 per cent and public and other 14.7 per cent.





Source link
#PNC #Infratech #share #price #Buy #PNC #Infratech #target #price #ICICI #Direct

Leave a comment

Your email address will not be published. Required fields are marked *