Arthneeti

PNC Infratech Q2 FY27 Share Price & Earnings Call Analysis

₹133.98-0.76% today
Market cap
₹3,443 Cr
P/E
5.67
ROE
2.41%
PEG
-0.15
Price to sales
0.63
Debt to equity
0.76
52W high / low
₹285 / ₹130
Sales growth (5Y)
-1.49%
EBITDA margin
22.95%
Net profit margin
2.87%
Promoter holding
56.25%
Sales (last year)
₹5,634 Cr

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]

Guidance scorecard · Q2 FY27 call

What PNC Infratech Ltd's management guided
and where it ranks in Construction

#42of 58 in
Construction
Revenue10–20%MarginsFlatCapexPlannedFundraisingPlannedOrder bookFlat

RevenueQ1 FY27 call

10–20%
  • Targeting standalone revenues of INR 6,000 crore in FY27 and INR 7,500 crore in FY28, maintaining earlier guidance.
  • Mining project revenues expected around INR 500 crore each in FY27 and FY28.
  • Solar project revenue expected to start in Q4 FY27; over INR 1,000 crore revenue targeted in FY28, completion expected by FY29.
  • Jal Jeevan Mission (JJM) water project revenues are around INR 700-800 crore in FY27 and about INR 1,000 crore in FY28.
  • Irrigation project targeted revenue of INR 150 crore in FY27 and the balance INR 600 crore in FY28.
  • Coal mining capex around INR 350 crore in initial years, with production and capex increasing in FY28 (~INR 150 crore).

2 more points from PNC Infratech Ltd's call on revenue

Create a free account to keep reading this call

Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

See what PNC Infratech Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • Mining Project Capex: Total capex required around INR 300-350 crores, spread over initial couple of years. FY27 and FY28 capex guidance is about INR 150 crores each year, with increasing capex expected as production scales up.
  • Solar Project Equity Requirement: Estimated total equity requirement around INR 400 crores. EPC revenue expected to start in Q4 FY27, ramping up in FY28 and FY29 with over INR 1,000 crores revenue targeted in FY28.
  • Equity Infusion for HAM Projects: INR 436 crores excluding solar and two new HAMs, with INR 226 crores planned for FY27 and balance in FY28. Two new HAMs require around INR 400 crores equity, mostly infused in FY28 and FY29.

2 more points from PNC Infratech Ltd's call on capex

Create a free account to keep reading this call

Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what PNC Infratech Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Flat
  • As of Q1 FY27, the order book stands at approximately INR 19,100 crores (including two new HAM projects and others).
  • Previous mention of INR 22,000 crores included new HAM projects secured in Q1; current figure refined to INR 19,100 crores.
  • The company has submitted bids for 24 projects totaling INR 32,000 crores, including 16 EPC and 8 HAM projects.

2 more points from PNC Infratech Ltd's call on the order book

Create a free account to keep reading this call

Full Q1 FY27 analysis
Full Construction ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Construction
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does PNC Infratech Ltd rank?

Portfolio builder

Build your portfolio
from the top-ranked stocks

  1. 1. Pick 3–15 stocks
  2. 2. Choose large, mid or small cap and your sectors
  3. 3. Get a portfolio built from the rankings
Build my portfolio

Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Construction companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Flat₹6,531 Cr11.7
240%+Flat₹1,089 Cr9.3
340%+Flat₹898 Cr7.6
440%+Flat₹807 Cr14.7
540%+Flat₹554 Cr13.1
640%+Flat₹516 Cr30.7

Sign up free to see every company in the sector ranking and track PNC Infratech Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Construction ranking

Financials of PNC Infratech Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

PNC Infratech Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +56.07%56.07%56.07%56.07%56.07%56.07%56.07%56.07%56.07%56.07%56.07%56.25%
FIIs +10.98%11.85%10.83%10.05%6.95%7.10%7.14%6.99%6.95%7.18%7.28%8.35%
DIIs +27.24%26.96%26.36%25.50%26.60%26.26%25.90%26.51%26.22%24.55%23.83%20.07%
Public +5.72%5.12%6.75%8.39%10.36%10.57%10.91%10.43%10.77%12.21%12.81%15.33%
No. of Shareholders92,70698,8971,39,1831,64,0741,98,6451,86,8891,85,0741,77,2441,72,8411,67,1841,63,8761,62,924

Financials of PNC Infratech Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,9112,0472,6002,1681,4271,4701,7041,4231,1281,2011,6171,6881,322
Expenses +1,5121,6151,8641,1991,0711,0911,3421,0558759621,3401,1651,044
Operating Profit400432736969356379362367253239277524279
OPM %21%21%28%45%25%26%21%26%22%20%17%31%21%
Other Income +2117243037426335319437507153
Interest161169183190204224233187129128137124134
Depreciation41444440407441312630353940
Profit before tax219235533768149124151502292118155432158
Tax %32%21%26%25%44%34%50%14%26%35%30%23%27%
Net Profit +14818539657583817543121677108332115
EPS in Rs5.777.2115.4322.423.253.172.9416.828.412.994.2012.944.47

Financials of PNC Infratech Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,8612,8372,2522,4113,7745,6035,7887,2087,9568,6506,7695,3685,829
Expenses +1,5812,2141,6471,6482,7684,2754,3665,6746,3566,6454,7034,2314,510
Operating Profit2806226057631,0071,3281,4221,5341,6002,0052,0661,1371,319
OPM %15%22%27%32%27%24%25%21%20%23%31%21%23%
Other Income +1212392447182107878182172634211
Interest93257310309348439426425470660852582523
Depreciation60213242262346351363390253177195122145
Profit before tax139164922163607197408069571,2491,1921,067861
Tax %34%-27%-28%-12%2%24%33%28%31%27%32%22%
Net Profit +91209118243351550497580658909815832631
EPS in Rs4.598.134.619.4713.7021.4319.3922.6225.6735.4531.7932.4224.60
Dividend Payout %7%6%11%5%4%2%3%2%2%2%2%2%

Financials of PNC Infratech Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital40515151515151515151515151
Reserves8311,3071,4101,6371,9732,5033,0023,5774,2345,1345,9386,7627,197
Borrowings +1,6921,6491,9062,0212,7753,5154,1924,7936,2828,0259,3645,1705,929
Other Liabilities +5341,8291,8512,1922,4552,4212,3302,2242,0662,4002,7051,8751,586
Total Liabilities3,0974,8355,2195,9027,2548,4909,57510,64512,63215,61018,05913,85814,763
Fixed Assets +6832,4472,4052,2792,2341,9781,7971,4821,2911,159992692738
CWIP1,48228116-03-0-0-00437
Investments94661031692634445794243125117907881,115
Other Assets +8382,3202,7033,4434,7526,0687,1968,74011,03013,94016,27612,37512,874
Total Assets3,0974,8355,2195,9027,2548,4909,57510,64512,63215,61018,05913,85814,763

Financials of PNC Infratech Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +24794285591197525190-499-1,454-231-564,593
Cash from Investing Activity +-968-170-202-252-444-230-25225343-250-261-67
Cash from Financing Activity +647117-135-211400254631481,0051,067456-4,796
Net Cash Flow-7441-511291535491-326-106586139-270
Free Cash Flow-739-10878460-864366-559-1,510-278-864,763
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit106%15%49%77%22%53%30%-18%-74%6%17%421%

Financials of PNC Infratech Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days52531069050192534506968103
Inventory Days1329467751014558558383154138
Days Payable6682120203120801185975103156143
Cash Conversion Cycle1186652-3731-17-363059496597
Working Capital Days244491615-11-190142234107
ROCE %11%15%13%15%16%21%17%15%15%16%14%8%

Guidance history

How PNC Infratech Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlannedPlannedFlat
Q4 FY26 call →20–40%FlatPlannedPlanned—
Q3 FY26 call →10–20%FlatPlannedPlannedFlat
Q2 FY26 call →0–10%FlatPlannedPlannedRising

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

2out of 100

Momentum score · price trend

2 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−51.8%4%
Last 6 months−37.6%4%
Last 3 months−43.9%1%

The price is 75.9% below its all-time high of ₹559.3 (24 May 2024). Stocks more than 20% below their peak have their score halved, so 3 became 2.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For PNC Infratech Ltd: 0.4 × 4 + 0.4 × 4 + 0.2 × 1 = 3, halved to 2 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What PNC Infratech Ltd's management said in earlier quarters

Others in Construction this season

  • GK Energy Ltd (Q2 FY27)

    Q2 FY27 Revenue from Operations:** ₹4,026.54 Mn, a 12.3% year-on-year (YoY) increase from ₹3,585.04 Mn in Q2 FY26 (Page 29, 31, 13). Key investor presentation t

  • Larsen & Toubro (Q2 FY27)

    Q2 FY27 Revenue: ₹787.5 billion, up 16% YoY (Page 9, 6) . Key investor presentation takeaways from Larsen & Toubro Ltd's Q2 FY27 investor presentation — and how

  • Central Mine Pla (Q2 FY27)

    Revenue from Operations (Net Sales) for Q2 FY 2026-27: ₹593.31 crore, up ₹41.44 crore or 8% vs Q2 FY 2025-26 (₹551.87 crore). Key investor presentation takeaway

  • Swastika Infra Ltd (Q2 FY27)

    FY 2024 Revenue: ₹210 Crore . Key investor presentation takeaways from Swastika Infra Ltd's Q2 FY27 investor presentation — and how it ranks against sector peer

Compare:vs Larsen & Toubrovs Rail Vikas Nigam Ltdvs Kalpataru Projects International Ltd