External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Robust &amp; Diversified Order Book: PNCIL has an order book valued at Rs 14,100 Cr (as of 30th June 2024), indicating revenue visibility for the next 2-2.5 years.</li><li>The total value of contracts, including a contract worth Rs 4,994 Cr where the company is L1, exceeds Rs 19,000 Cr, which is over 2.5 times FY24 revenue.</li><li>The order book is well-diversified between roads and water projects..</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Robust &amp; Diversified Order Book: PNCIL has an order book valued at Rs 14,100 Cr (as of 30th June 2024), indicating revenue visibility for the next 2-2.5 years.The total value of contracts, including a contract worth Rs 4,994 Cr where the company is L1, exceeds Rs 19,000 Cr, which is over 2.5 times FY24 revenue.The order book is well-diversified between roads and water projects..Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech Ltd - Project Execution to Pick Up & Margins To Be Maintained.

<ul><li>Robust &amp; Diversified order book: PNCIL has an order book of Rs 15,490 Cr (as of 31 st Mar'24), indicating revenue visibility for the next 2-2.5 years.</li><li>The value of contracts is over Rs 20,400 Cr (incl. contract worth Rs 4,994 Cr where company is L1) is over 2.7 times of FY24 revenue.</li><li>The order book is well diversified between Roads and Water projects.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Robust &amp; Diversified order book: PNCIL has an order book of Rs 15,490 Cr (as of 31 st Mar'24), indicating revenue visibility for the next 2-2.5 years.The value of contracts is over Rs 20,400 Cr (incl. contract worth Rs 4,994 Cr where company is L1) is over 2.7 times of FY24 revenue.The order book is well diversified between Roads and Water projects.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech Ltd - Robust Order Book; EBITDA Margin Guidance Revised Downward

<ul><li>The company reported revenue of Rs 1,803 Cr (up 11% YoY) and EBITDA of Rs 239 Cr (up 15% YoY). It recorded an APAT of Rs 151 Cr (up 17% YoY).</li><li>The company posted an EBITDA margin of 13.3% in Q3FY24 (vs. our estimate of 13.3%), compared to 12.8% in Q3FY23.</li><li>APAT margin was 8.4% vs. 7.9% in Q3FY23. The company’s share of revenue from EPC/Water Projects/Tolls/Annuity was 72%/15%13/% against 62%/26%/12% in Q3FY23</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The company reported revenue of Rs 1,803 Cr (up 11% YoY) and EBITDA of Rs 239 Cr (up 15% YoY). It recorded an APAT of Rs 151 Cr (up 17% YoY).The company posted an EBITDA margin of 13.3% in Q3FY24 (vs. our estimate of 13.3%), compared to 12.8% in Q3FY23.APAT margin was 8.4% vs. 7.9% in Q3FY23. The company’s share of revenue from EPC/Water Projects/Tolls/Annuity was 72%/15%13/% against 62%/26%/12% in Q3FY23Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech Ltd - New Order Inflow Crucial For Growth; Retain BUY

<ul><li>The company reported revenue of Rs 1,693 Cr (up 8% YoY) and EBITDA of Rs 228 Cr (up 10% YoY). It recorded an APAT of Rs 140 Cr (up 7% YoY).</li><li>The company posted an EBITDA margin of 13.4% in Q2FY24 (vs. our estimate of 13.5%), compared to 13.3% in Q2FY23.</li><li>APAT margin was 8.3% vs. 8.4% in Q2FY23. The company’s share of revenue from EPC/Water Projects/Tolls/Annuity was 68%/21%/11%.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The company reported revenue of Rs 1,693 Cr (up 8% YoY) and EBITDA of Rs 228 Cr (up 10% YoY). It recorded an APAT of Rs 140 Cr (up 7% YoY).The company posted an EBITDA margin of 13.4% in Q2FY24 (vs. our estimate of 13.5%), compared to 13.3% in Q2FY23.APAT margin was 8.3% vs. 8.4% in Q2FY23. The company’s share of revenue from EPC/Water Projects/Tolls/Annuity was 68%/21%/11%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech Ltd - Broadly In-Line Results; New Order Inflow Crucial

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>PNC Infratech (PNC) reported a 23.1% CAGR growth in its top line from FY19 to FY23</li><li>The key takeaways from PNC’s FY23 annual report are: (1) PNC’s OB as of Mar’23 stood at INR 205.3bn (~2.9x FY23 standalone revenue, all-time high), which provides revenue visibility in the medium term</li><li>(2) At the standalone level, the company had gross/net debt of INR 4.5/0.8bn (gross D/E 0.11x) as of Mar’23 vs a net cash position of INR 3.2bn in Mar’22</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech (PNC) reported a 23.1% CAGR growth in its top line from FY19 to FY23The key takeaways from PNC’s FY23 annual report are: (1) PNC’s OB as of Mar’23 stood at INR 205.3bn (~2.9x FY23 standalone revenue, all-time high), which provides revenue visibility in the medium term(2) At the standalone level, the company had gross/net debt of INR 4.5/0.8bn (gross D/E 0.11x) as of Mar’23 vs a net cash position of INR 3.2bn in Mar’22Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech - Asset Monetisation Tailwind. Maintain BUY

India

PNC Infratech Limited operates as an infrastructure construction, development, and management company. The Company constructs highways, bridges, fly-overs, power transmission lines, and airport runways. PNC Infratech also provides construction services for waste management and industrial area development projects.

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PNC Infratech Ltd (PNCL IN)

PNC Infratech Ltd - Project Execution to Pick Up & Margins To Be Maintained.

Robust & Diversified Order Book: PNCIL has an order book valued at Rs 14,100 Cr (as of 30th June 2024), indicating revenue visibility for the next...

Axis Direct

PNC Infratech Ltd - Robust Order Book; EBITDA Margin Guidance Revised Downward

Robust & Diversified order book: PNCIL has an order book of Rs 15,490 Cr (as of 31 st Mar'24), indicating revenue visibility for the next 2-2.5 years.

Axis Direct

PNC Infratech Ltd - New Order Inflow Crucial For Growth; Retain BUY

The company reported revenue of Rs 1,803 Cr (up 11% YoY) and EBITDA of Rs 239 Cr (up 15% YoY). It recorded an APAT of Rs 151 Cr (up 17% YoY).

Axis Direct

PNC Infratech Ltd - Broadly In-Line Results; New Order Inflow Crucial

The company reported revenue of Rs 1,693 Cr (up 8% YoY) and EBITDA of Rs 228 Cr (up 10% YoY). It recorded an APAT of Rs 140 Cr (up 7% YoY).

Axis Direct

PNC Infratech - Asset Monetisation Tailwind. Maintain BUY

The key takeaways from PNC’s FY23 annual report are: (1) PNC’s OB as of Mar’23 stood at INR 205.3bn (~2.9x FY23 standalone revenue, all-time high)

HDFC Securities

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