BQ Prime'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 BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
PNC Infratech Ltd.'s Q2 FY23 profit after tax missed our estimates by ~20%. Miss was on account of lower execution (revenue at down 3% YoY) due to extended monsoon. On the back of this, company also revised its revenue growth guidance to 10-15% versus earlier at 15% plus.
Ebitda margin is expected to be maintained at 13.5%.
Order book is healthy at Rs 193 billion (equals three times FY22 revenue) including seven hybrid annuity model projects where appointed date is pending.
Stock catalyst is receipt of appointed date for HAM projects as executable order book is 61% of total order book and conclusion asset monetisation, where equity of Rs 9 billion is invested by PNC Infratech till date.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime 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 BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.