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Last Updated on: 21 July, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Fundamental Analysis of PNC Infratech Ltd

Basic Stock Data

Last Updated: July 20, 2024, 10:44 pm

Market Cap 13,012 Cr.
Current Price 507
High / Low575/310
Stock P/E14.3
Book Value 202
Dividend Yield0.10 %
ROCE16.1 %
ROE19.2 %
Face Value 2.00
PEG Ratio1.35

Data Source: screener.in

Competitors of PNC Infratech Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Sadbhav Engineering Ltd 488 Cr. 28.540.4/10.0 7.310.00 %2.15 %1,480 % 1.00
Supreme Infrastructure India Ltd 236 Cr. 91.7117/20.8 1,8950.00 %%% 10.0
Dhanuka Realty Ltd 18.6 Cr. 24.029.0/8.6518.2 11.60.00 %12.8 %12.8 % 10.0
AMJ Land Holdings Ltd 228 Cr. 55.765.4/27.120.6 43.60.36 %9.38 %6.84 % 2.00
Techindia Nirman Ltd 36.0 Cr. 25.246.0/9.16 8.200.00 %0.43 %3.35 % 10.0
Industry Average8,123.22 Cr297.36131.08129.080.10%12.79%50.59%6.71

Quarterly Result

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Sales1,5821,8641,4631,7981,7222,2262,0531,7951,8032,3052,0921,9112,047
Expenses1,1751,4441,1001,4321,3961,7461,5351,4691,4591,8941,6551,5121,615
Operating Profit407420363366325480518326345411436400432
OPM %26%23%25%20%19%22%25%18%19%18%21%21%21%
Other Income35242228181913242024202117
Interest98102103107103112107108122133147161169
Depreciation10889999711679104484457484144
Profit before tax237253183190124309321194198244262219235
Tax %29%40%38%30%37%17%25%32%30%40%31%32%21%
Net Profit17615011813283247241132140146181148185
EPS in Rs6.875.864.595.163.239.649.385.155.455.697.045.777.21

Last Updated: July 10, 2024, 8:41 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: July 10, 2024, 8:41 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Sales1,3061,3601,8612,8372,2522,4113,7745,6035,7887,2087,9568,650
Expenses1,1481,1841,5812,2141,6471,6482,7684,2754,3665,6746,3566,645
Operating Profit1571762806226057631,0071,3281,4221,5341,6002,005
OPM %12%13%15%22%27%32%27%24%25%21%20%23%
Other Income3111212392447182107878182
Interest256193257310309348439426425470660
Depreciation234060213242262346351363390253177
Profit before tax11285139164922163607197408069571,249
Tax %33%41%34%-27%-28%-12%2%24%33%28%31%27%
Net Profit755191209118243351550497580658909
EPS in Rs3.752.774.598.134.619.4713.7021.4319.3922.6225.6735.45
Dividend Payout %4%5%7%6%11%5%4%2%3%2%2%2%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-32.00%78.43%129.67%-43.54%105.93%44.44%56.70%-9.64%16.70%13.45%38.15%
Change in YoY Net Profit Growth (%)0.00%110.43%51.24%-173.21%149.47%-61.49%12.25%-66.33%26.34%-3.25%24.70%

Growth

Compounded Sales Growth
10 Years:20%
5 Years:18%
3 Years:14%
TTM:9%
Compounded Profit Growth
10 Years:33%
5 Years:22%
3 Years:25%
TTM:42%
Stock Price CAGR
10 Years:%
5 Years:23%
3 Years:19%
1 Year:52%
Return on Equity
10 Years:17%
5 Years:18%
3 Years:18%
Last Year:19%

Last Updated: July 17, 2024, 5:19 pm

Balance Sheet

Last Updated: July 10, 2024, 8:41 pm

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital40404040515151515151515151
Reserves4545486708311,3071,4101,6371,9732,5033,0023,5774,2344,561
Borrowings3725881,0251,6921,6491,9062,0212,7753,5154,1924,7936,2827,082
Other Liabilities1762462865341,8291,8512,1922,4552,4212,3302,2242,0662,255
Total Liabilities1,0421,4222,0213,0974,8355,2195,9027,2548,4909,57510,64512,63213,949
Fixed Assets1114446496832,4472,4052,2792,2341,9781,7971,4821,2911,236
CWIP1932965931,4822811603000
Investments51921059466103169263444579424312275
Other Assets6885906748382,3202,7033,4434,7526,0687,1968,74011,03012,438
Total Assets1,0421,4222,0213,0974,8355,2195,9027,2548,4909,57510,64512,63213,949

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity 31813924794285591197525190-499-1,454-231
Cash from Investing Activity -502-555-968-170-202-252-444-230-25225343-250
Cash from Financing Activity 212458647117-135-211400254631481,0051,067
Net Cash Flow2842-7441-511291535491-326-106586

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-431.00175.00279.00621.00604.00761.00-1.00-2.00-3.00-3.00-5.00-6.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days6751525310690501925345069
Inventory Days107891329467751014558558350
Days Payable14374668212020312080118597562
Cash Conversion Cycle31661186652-3731-17-36305957
Working Capital Days65636747692017-99234776
ROCE %14%10%11%15%13%15%16%21%17%15%15%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
Promoters56.07%56.07%56.07%56.07%56.07%56.07%56.07%56.07%56.07%56.07%56.07%56.07%
FIIs9.32%11.57%10.88%9.99%10.48%9.77%9.32%9.52%10.26%10.78%10.98%11.85%
DIIs29.17%28.33%28.92%26.83%28.57%29.10%29.58%29.39%28.50%28.10%27.24%26.96%
Public5.44%4.03%4.13%7.11%4.88%5.06%5.04%5.03%5.18%5.06%5.72%5.12%
No. of Shareholders61,17550,05462,45477,87978,22276,84074,78077,01475,53079,24392,70698,897

Shareholding Pattern Chart

No. of Shareholders

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
HDFC Small Cap Fund - Regular Plan12,886,5291.72436.212,647,3002024-07-20386.78%
HDFC Hybrid Equity Fund - Regular Plan7,357,6001.18249.052,647,3002024-07-20177.93%
Axis Small Cap Fund3,805,1800.72128.812,647,3002024-07-2043.74%
HSBC Value Fund3,775,0081.26127.782,647,3002024-07-2042.6%
ICICI Prudential Smallcap Fund3,565,8841.83120.712,647,3002024-07-2034.7%
Nippon India Small Cap Fund3,282,2910.27111.112,647,3002024-07-2023.99%
Canara Robeco Small Cap Fund3,203,2461.25108.432,647,3002024-07-2021%
HSBC Small Cap Fund - Regular Plan2,647,3000.789.612,647,3002024-07-200%
Kotak Emerging Equity Fund - Regular Plan2,042,5070.1969.142,647,3002024-07-20-22.85%
UTI Mid Cap Fund1,538,6960.5552.082,647,3002024-07-20-41.88%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue2.002.002.002.002.00
Basic EPS (Rs.)35.4525.6722.6319.3721.43
Diluted EPS (Rs.)35.4525.6722.6319.3721.43
Cash EPS (Rs.)42.3435.5437.8433.3634.85
Book Value[Excl.RevalReserv]/Share (Rs.)202.11167.03141.42118.9999.57
Book Value[Incl.RevalReserv]/Share (Rs.)202.11167.03141.42118.9999.57
Revenue From Operations / Share (Rs.)337.18310.13280.97225.60218.39
PBDIT / Share (Rs.)81.3165.5163.2859.6158.58
PBIT / Share (Rs.)74.4255.6448.0745.4544.91
PBT / Share (Rs.)48.6837.3231.4228.8427.78
Net Profit / Share (Rs.)35.4525.6722.6319.2021.18
NP After MI And SOA / Share (Rs.)35.4525.6722.6219.3921.43
PBDIT Margin (%)24.1121.1222.5226.4226.82
PBIT Margin (%)22.0717.9417.1020.1420.56
PBT Margin (%)14.4312.0311.1812.7812.72
Net Profit Margin (%)10.518.278.058.519.69
NP After MI And SOA Margin (%)10.518.278.048.599.81
Return on Networth / Equity (%)17.5415.3615.9916.2921.52
Return on Capital Employeed (%)14.2813.3013.8114.6815.83
Return On Assets (%)5.825.215.455.196.47
Long Term Debt / Equity (X)1.401.301.201.221.27
Total Debt / Equity (X)1.551.461.321.231.28
Asset Turnover Ratio (%)0.610.680.840.730.83
Current Ratio (X)2.071.691.681.721.96
Quick Ratio (X)1.731.291.401.501.74
Inventory Turnover Ratio (X)7.325.387.657.246.44
Dividend Payout Ratio (NP) (%)0.001.942.210.004.66
Dividend Payout Ratio (CP) (%)0.001.401.320.002.84
Earning Retention Ratio (%)0.0098.0697.790.0095.34
Cash Earning Retention Ratio (%)0.0098.6098.680.0097.16
Interest Coverage Ratio (X)3.163.583.823.593.42
Interest Coverage Ratio (Post Tax) (X)2.382.402.372.162.24
Enterprise Value (Cr.)17826.7012972.5410683.389413.394782.16
EV / Net Operating Revenue (X)2.061.631.481.630.85
EV / EBITDA (X)8.557.726.586.163.18
MarketCap / Net Operating Revenue (X)1.290.930.921.140.43
Retention Ratios (%)0.0098.0597.780.0095.33
Price / BV (X)2.161.731.832.160.95
Price / Net Operating Revenue (X)1.290.930.921.140.43
EarningsYield0.080.080.080.070.22

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value: 555.17

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

Undervalued: 9.50% compared to the current price 507

Intrinsic Value: 613.96

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators along with EPS growth.

Undervalued: 21.10% compared to the current price 507

Last 5 Year EPS CAGR: 10.59%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has shown consistent growth in sales (3.67 cr) and profit (365.92 cr) over the years.
  1. The stock has a low average ROCE of 13.50%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 41.17, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 35.00, which may not be favorable.
  4. The company has higher borrowings (3,205.25) compared to reserves (2,235.50), which may suggest financial risk.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in PNC Infratech Ltd:
    1. Net Profit Margin: 10.51%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 14.28% (Industry Average ROCE: %)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 17.54% (Industry Average ROE: %)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 2.38
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 1.73
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 14.3 (Industry average Stock P/E: )
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. ✗ Total Debt / Equity: 1.55
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company

PNC Infratech Ltd. is a Public Limited Listed company incorporated on 09/08/1999 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L45201DL1999PLC195937 and registration number is 195937. Currently Company is involved in the business activities of Construction and maintenance of motorways, streets, roads, other vehicular and pedestrian ways, highways, bridges, tunnels and subways. Company’s Total Operating Revenue is Rs. 6305.50 Cr. and Equity Capital is Rs. 51.31 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Construction, Contracting & EngineeringNBCC Plaza, Tower-II, 4th Floor, Pushp Vihar, Sector-V, Saket, New Delhi Delhi 110017complianceofficer@pncinfratech.com
http://www.pncinfratech.com
Management
NamePosition Held
Mr. Pradeep Kumar JainChairman & Managing Director
Mr. Chakresh Kumar JainManaging Director
Mr. Yogesh Kumar JainManaging Director
Mr. Anil Kumar RaoWhole Time Director
Mr. Talluri Raghupati RaoWhole Time Director
Mr. Krishan Kumar JalanIndependent Director
Mr. Subhash Chander KaliaIndependent Director
Ms. Deepika MittalIndependent Director
Mr. Ashok Kumar GuptaIndependent Director
Mr. Gauri ShankarIndependent Director

FAQ

What is the latest fair value of PNC Infratech Ltd?

The latest fair value of PNC Infratech Ltd is ₹555.17.

What is the Market Cap of PNC Infratech Ltd?

The Market Cap of PNC Infratech Ltd is 13,012 Cr..

What is the current Stock Price of PNC Infratech Ltd as on 21 July 2024?

The current stock price of PNC Infratech Ltd as on 21 July 2024 is 507.

What is the High / Low of PNC Infratech Ltd stocks in FY 2024?

In FY 2024, the High / Low of PNC Infratech Ltd stocks is 575/310.

What is the Stock P/E of PNC Infratech Ltd?

The Stock P/E of PNC Infratech Ltd is 14.3.

What is the Book Value of PNC Infratech Ltd?

The Book Value of PNC Infratech Ltd is 202.

What is the Dividend Yield of PNC Infratech Ltd?

The Dividend Yield of PNC Infratech Ltd is 0.10 %.

What is the ROCE of PNC Infratech Ltd?

The ROCE of PNC Infratech Ltd is 16.1 %.

What is the ROE of PNC Infratech Ltd?

The ROE of PNC Infratech Ltd is 19.2 %.

What is the Face Value of PNC Infratech Ltd?

The Face Value of PNC Infratech Ltd is 2.00.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in PNC Infratech Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE