ECONOMY

PNC Infratech Q4 Review – Strong Orderbook To Drive Growth: Dolat Capital

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.

PNC Infratech Ltd. reported results in line with estimates.

The company posted 42.0%/ 48.7%/ 70.1% YoY growth in revenue/ Ebitda/ adjusted profit after tax to Rs 16.4 billion/ Rs 2.3 billion/ Rs 1.3 billion in Q4 FY21.

We broadly maintain estimates for FY22E/ FY23E factoring FY21 results.

We expect strong revenue/ adjusted profit after tax compound annual growth rate of 22.8%/ 30.1% over FY21- 23E.

Post tepid growth in FY21, we factor revenue/ adjusted profit after tax growth of 23.6%/ 35.3% in FY22E and 21.9%/ 25.0% in FY23E driven by robust execution across projects.

The current core construction valuations of 10.9 times/ 8.7 times FY22E/ FY23E earnings per share are attractive.

Click on the attachment to read the full report:

Dolat Capital PNC Infra Q4FY21 Result Update.pdf

DISCLAIMER

This 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.

Most Related Links :
reporterwings Governmental News Finance News

Source link

Back to top button