PNC Infratech
- P/E
- 4.50
Key Fundamentals
MicrocapConstructionIndustrialsPrice-based figures as of · EPS basis: Consolidated · TTM
- ROCE
- 7.97%
- Debt to Equity
- 0.76
- EPS (TTM)
- ₹28.54
- Book Value
- ₹282.55
- Market Cap
- —
- P/E (TTM)
- 4.50
- P/B
- 0.45
- ROE
- 2.41%
- Dividend Yield
- 0.48%
- EBITDA
- ₹1,278 Cr
- 52W High
- ₹291.45
- 52W Low
- ₹116.40
- Day Range
- ₹124.76 – ₹128.89
- Volume
- 7,11,144
Peer Comparison
Industrials › Construction › Civil Construction
| ₹3,944.40 | 30.37 | ₹5,47,193 Cr | 4.80 | 0.96% | 15.90% | 14.60% | ₹3,00,904 Cr | ₹20,895 Cr | |
| ₹191.23 | 44.37 | ₹39,292 Cr | 4.06 | 0.93% | 9.02% | 10.80% | ₹20,825 Cr | ₹897 Cr | |
| ₹1,310.10 | 37.40 | ₹23,549 Cr | 6.36 | 0.24% | 27.80% | 32.80% | ₹10,205 Cr | ₹602 Cr | |
| ₹1,366.10 | 20.52 | ₹22,726 Cr | 3.00 | 0.83% | 13.70% | 18.30% | ₹27,380 Cr | ₹1,129 Cr | |
| ₹77.74 | 28.37 | ₹20,666 Cr | 6.95 | 0.20% | 20.40% | 29.30% | ₹12,756 Cr | ₹766 Cr | |
| ₹16.79 | 21.25 | ₹19,929 Cr | 0.94 | 0.31% | 4.29% | 7.47% | ₹7,686 Cr | ₹954 Cr | |
| ₹300.85 | 21.55 | ₹16,653 Cr | 5.06 | 0.52% | 23.40% | 30.40% | ₹3,878 Cr | ₹784 Cr | |
| PNC Infratech (this company) | ₹128.33 | 4.50 | ₹3,274 Cr | 0.45 | 0.48% | 2.41% | 7.97% | ₹5,634 Cr | ₹733 Cr |
| Median 8 companies | ₹246.04 | 24.96 | ₹21,696 Cr | 4.43 | 0.50% | 14.80% | 16.45% | ₹11,481 Cr | ₹841 Cr |
Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.
Tapetide Score
Data-driven rating, 0–100, as of . How it works →
Overall score
Data confidence 100/100
Category scores
- Quality
- 80
- Strong
- Returns, margins, earnings quality 22% weight
- Valuation
- 89
- Strong
- Cheap vs sector & own history 24% weight
- Growth
- 16
- Poor
- Sales & profit trajectory 9% weight
- Financial Health
- 26
- Poor
- Solvency, leverage, coverage 9% weight
- Momentum
- 10
- Poor
- Trend strength, vol-adjusted 12% weight
- Ownership
- 52
- Average
- FII/DII/promoter flows 24% weight
The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.
Key Insights
Strengths
2- Company has reduced debt.
- Stock is trading at 0.54 times its book value
Weaknesses
6- The company has delivered a poor sales growth of -1.49% over past five years.
- Company has a low return on equity of 10.7% over last 3 years.
- Contingent liabilities of Rs.3,729 Cr.
- Dividend payout has been low at 1.81% of profits over last 3 years
- Debtor days have increased from 79.7 to 103 days.
- Working capital days have increased from 54.2 days to 107 days
Technical Indicators
| Group | Signal | Bearish | Neutral | Bullish |
|---|---|---|---|---|
| Overall | Strong Bearish | 11 | 5 | 3 |
| Oscillators | Bullish | 1 | 5 | 3 |
| Moving Averages | Strong Bearish | 10 | 0 | 0 |
Oscillators
Bullish
Overall
Strong Bearish
Moving Averages
Strong Bearish
Key readings
- RSI (14)
- 38.50
- Neutral
- MACD (12,26,9)
- −6.72
- Bullish
- SMA (50)
- 152.16
- Bearish
- SMA (200)
- 199.99
- Bearish
As of
Analyst Rating
11 of 14 analysts rate Buy, 1 Hold, 2 Sell.
As of
Growth Rate
From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.
Revenue
| 10Y | +6.58% |
|---|---|
| 5Y | −1.50% |
| 3Y | −12.29% |
| 1Y | −20.70% |
| TTM | −6.47% |
Net profit
| 10Y | +14.81% |
|---|---|
| 5Y | +10.85% |
| 3Y | +8.13% |
| 1Y | +2.09% |
| TTM | +9.40% |
Operating cash flow
| 10Y | +47.54% |
|---|---|
| 5Y | +89.09% |
| 3Y | Turned positive |
| 1Y | Turned positive |
| TTM | — |
TTM: Reported once a year, so there is no trailing-twelve-month figure.
Operating margin· change in pp
| 10Y | −0.74 pp |
|---|---|
| 5Y | −3.39 pp |
| 3Y | +1.07 pp |
| 1Y | −9.34 pp |
| TTM | −1.35 pp |
Revenue by year
| Mar 2017 | ₹2,252 Cr |
|---|---|
| Mar 2018 | ₹2,411 Cr |
| Mar 2019 | ₹3,774 Cr |
| Mar 2020 | ₹5,603 Cr |
| Mar 2021 | ₹5,788 Cr |
| Mar 2022 | ₹7,208 Cr |
| Mar 2023 | ₹7,956 Cr |
| Mar 2024 | ₹8,650 Cr |
| Mar 2025 | ₹6,769 Cr |
| Mar 2026 | ₹5,368 Cr |
Net profit by year
| Mar 2017 | ₹118 Cr |
|---|---|
| Mar 2018 | ₹243 Cr |
| Mar 2019 | ₹351 Cr |
| Mar 2020 | ₹550 Cr |
| Mar 2021 | ₹497 Cr |
| Mar 2022 | ₹580 Cr |
| Mar 2023 | ₹658 Cr |
| Mar 2024 | ₹909 Cr |
| Mar 2025 | ₹815 Cr |
| Mar 2026 | ₹832 Cr |
Analyst Forecasts
Analyst consensus here uses a different definition from reported ebitda (they differ 2.0× on periods where both exist), so the forecast is shown on its own rather than joined to the reported line.
AI Analysis — Bull vs Bear
PNC Infratech trades at a PE of 7.4x and 0.90x book value with a market cap of Rs.6,134 Cr, reflecting significant de-rating after a TTM sales decline of 21% and profit decline of 42%. The company has reduced debt but faces deteriorating working capital cycles and elevated contingent liabilities of Rs.3,595 Cr.
- Stock trades at 0.90x price-to-book, below its book value, suggesting deep valuation discount relative to assets
- PE ratio of 7.4x is significantly below infrastructure sector averages, pricing in substantial pessimism
- Company has actively reduced debt, improving balance sheet strength
- 10-year compounded profit growth of 8% and sales growth of 7% demonstrate long-term execution capability
- 5-year average ROE of 14% and 10-year average ROE of 15% indicate historically strong capital efficiency
- Stock has declined 24% over the past year, potentially offering a contrarian entry if fundamentals stabilize
- Infrastructure sector benefits from continued government capex push on highways and roads in India
- TTM sales declined 21% and TTM profit declined 42%, showing sharp deterioration in business momentum
- Working capital days have surged from 72.1 to 160 days, indicating severe cash conversion stress and potential liquidity strain
- Contingent liabilities of Rs.3,595 Cr represent roughly 59% of market cap, posing material risk if crystallized
- Debtor days increased from 79.7 to 103 days, reflecting delayed collections from clients
- Last year ROE collapsed to 7% from a 3-year average of 13%, signaling declining profitability
- Low interest coverage ratio indicates vulnerability to debt servicing pressures
- Earnings quality is questionable with Rs.634 Cr of other income included in profits
- Dividend payout of only 1.81% of profits over last 3 years shows minimal shareholder returns despite 0.25% yield
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
TL;DR: PNC Infratech is actively expanding its order book with significant NHAI highway awards, reinforcing its position in the infrastructure construction space. No visible headwinds from recent news. The Rs 3483 crore HAM win signals continued revenue visibility and government capex momentum, suggesting an improving trend for near-term execution.
- HAM pacts worth Rs 3483 Cr Jul 17
PNC Infratech signed concession agreements with NHAI for two HAM projects worth Rs 3483 crore, involving construction of 4-lane highways in Uttar Pradesh.
Quarterly Results
₹ Cr| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 2,092 | 1,911 | 2,047 | 2,600 | 2,168 | 1,427 | 1,470 | 1,704 | 1,423 | 1,128 | 1,201 | 1,617 | 1,688 | 1,322 |
| Expenses | 1,655 | 1,512 | 1,615 | 1,864 | 1,199 | 1,071 | 1,091 | 1,342 | 1,055 | 875 | 962 | 1,340 | 1,165 | 1,044 |
| Operating Profit | 436 | 400 | 432 | 736 | 969 | 356 | 379 | 362 | 367 | 253 | 239 | 277 | 524 | 279 |
| OPM % | 21% | 21% | 21% | 28% | 45% | 25% | 26% | 21% | 26% | 22% | 20% | 17% | 31% | 21% |
| Other Income | 20 | 21 | 17 | 24 | 30 | 37 | 42 | 63 | 353 | 194 | 37 | 50 | 71 | 53 |
| Interest | 147 | 161 | 169 | 183 | 190 | 204 | 224 | 233 | 187 | 129 | 128 | 137 | 124 | 134 |
| Depreciation | 48 | 41 | 44 | 44 | 40 | 40 | 74 | 41 | 31 | 26 | 30 | 35 | 39 | 40 |
| PBT | 262 | 219 | 235 | 533 | 768 | 149 | 124 | 151 | 502 | 292 | 118 | 155 | 432 | 158 |
| Tax % | 31% | 32% | 21% | 26% | 25% | 44% | 34% | 50% | 14% | 26% | 35% | 30% | 23% | 27% |
| Net Profit | 181 | 148 | 185 | 396 | 575 | 83 | 81 | 75 | 431 | 216 | 77 | 108 | 332 | 115 |
| EPS (₹) | 7.04 | 5.77 | 7.21 | 15.43 | 22.42 | 3.25 | 3.17 | 2.94 | 16.82 | 8.41 | 2.99 | 4.2 | 12.94 | — |
Sep 2026: from the results filed on 28 Oct 2026, ahead of the full statement, so some rows are blank.
Profit & Loss
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,861 | 2,837 | 2,252 | 2,411 | 3,774 | 5,603 | 5,788 | 7,208 | 7,956 | 8,650 | 6,769 | 5,368 | 5,634 |
| Expenses | 1,581 | 2,214 | 1,647 | 1,648 | 2,768 | 4,275 | 4,366 | 5,674 | 6,356 | 6,645 | 4,703 | 4,231 | 4,341 |
| Operating Profit | 280 | 622 | 605 | 763 | 1,007 | 1,328 | 1,422 | 1,534 | 1,600 | 2,005 | 2,066 | 1,137 | 1,293 |
| OPM % | 15% | 22% | 27% | 32% | 27% | 24% | 25% | 21% | 20% | 23% | 31% | 21% | 23% |
| Other Income | 12 | 12 | 39 | 24 | 47 | 182 | 107 | 87 | 81 | 82 | 172 | 634 | 352 |
| Interest | 93 | 257 | 310 | 309 | 348 | 439 | 426 | 425 | 470 | 660 | 852 | 582 | 518 |
| Depreciation | 60 | 213 | 242 | 262 | 346 | 351 | 363 | 390 | 253 | 177 | 195 | 122 | 130 |
| PBT | 139 | 164 | 92 | 216 | 360 | 719 | 740 | 806 | 957 | 1,249 | 1,192 | 1,067 | 996 |
| Tax % | 34% | −27% | −28% | −12% | 2% | 24% | 33% | 28% | 31% | 27% | 32% | 22% | — |
| Net Profit | 91 | 209 | 118 | 243 | 351 | 550 | 497 | 580 | 658 | 909 | 815 | 832 | 732 |
| EPS (₹) | 4.59 | 8.13 | 4.61 | 9.47 | 13.7 | 21.43 | 19.39 | 22.62 | 25.67 | 35.45 | 31.79 | 32.42 | 28.54 |
| Div. Payout % | 7% | 6% | 11% | 5% | 4% | 2% | 3% | 2% | 2% | 2% | 2% | 2% | — |
Balance Sheet
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 40 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 | 51 |
| Reserves | 831 | 1,307 | 1,410 | 1,637 | 1,973 | 2,503 | 3,002 | 3,577 | 4,234 | 5,134 | 5,938 | 6,762 |
| Borrowings | 1,692 | 1,649 | 1,906 | 2,021 | 2,775 | 3,515 | 4,192 | 4,793 | 6,282 | 8,025 | 9,364 | 5,170 |
| Other Liabilities | 534 | 1,829 | 1,851 | 2,192 | 2,455 | 2,421 | 2,330 | 2,224 | 2,066 | 2,400 | 2,705 | 1,875 |
| Total Liabilities | 3,097 | 4,835 | 5,219 | 5,902 | 7,254 | 8,490 | 9,575 | 10,645 | 12,632 | 15,610 | 18,059 | 13,858 |
| Fixed Assets | 683 | 2,447 | 2,405 | 2,279 | 2,234 | 1,978 | 1,797 | 1,482 | 1,291 | 1,159 | 992 | 692 |
| CWIP | 1,482 | 2 | 8 | 11 | 6 | 0 | 3 | 0 | 0 | 0 | 0 | 4 |
| Investments | 94 | 66 | 103 | 169 | 263 | 444 | 579 | 424 | 312 | 511 | 790 | 788 |
| Other Assets | 838 | 2,320 | 2,703 | 3,443 | 4,752 | 6,068 | 7,196 | 8,740 | 11,030 | 13,940 | 16,276 | 12,375 |
| Total Assets | 3,097 | 4,835 | 5,219 | 5,902 | 7,254 | 8,490 | 9,575 | 10,645 | 12,632 | 15,610 | 18,059 | 13,858 |
Cash Flow
₹ Cr| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 247 | 94 | 285 | 591 | 197 | 525 | 190 | −499 | −1,454 | −231 | −56 | 4,593 |
| Investing | −968 | −170 | −202 | −252 | −444 | −230 | −252 | 25 | 343 | −250 | −261 | −67 |
| Financing | 647 | 117 | −135 | −211 | 400 | 254 | 63 | 148 | 1,005 | 1,067 | 456 | −4,796 |
| Net Cash Flow | −74 | 41 | −51 | 129 | 153 | 549 | 1 | −326 | −106 | 586 | 139 | −270 |
| Free Cash Flow | −739 | −108 | 78 | 460 | −86 | 436 | 6 | −559 | −1,510 | −278 | −86 | 4,763 |
| CFO/EBITDA | 106 | 15 | 49 | 77 | 22 | 53 | 30 | −18 | −74 | 6 | 17 | 421 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 52 | 53 | 106 | 90 | 50 | 19 | 25 | 34 | 50 | 69 | 68 | 103 |
| Inventory Days | 132 | 94 | 67 | 75 | 101 | 45 | 58 | 55 | 83 | 83 | 154 | 138 |
| Days Payable | 66 | 82 | 120 | 203 | 120 | 80 | 118 | 59 | 75 | 103 | 156 | 143 |
| Cash Conversion Cycle | 118 | 66 | 52 | −37 | 31 | −17 | −36 | 30 | 59 | 49 | 65 | 97 |
| Working Capital Days | 2 | 44 | 49 | 16 | 15 | −11 | −19 | 0 | 14 | 22 | 34 | 107 |
| ROCE % | 11% | 15% | 13% | 15% | 16% | 21% | 17% | 15% | 15% | 16% | 14% | 8% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view PNC Infratech insights
68 extracted metrics across FY09–FY27.
Documents
- Q1 FY27 concall · Aug 2026Transcript PPT Recording
- Q4 FY26 concall · May 2026Transcript PPT Recording
- Q3 FY26 concall · Feb 2026Transcript PPT
- Q2 FY26 concall · Nov 2025Transcript PPT
- Q1 FY26 concall · Aug 2025Transcript PPT
- 28 Oct 2026
- 19 May 2026
- 25 Sep 2026
- 23 Sep 2026
- 17 Aug 2026
- 2 Apr 2026
- 26 Mar 2025
- General announcements 29 Oct 2026
Frequently Asked Questions about PNC Infratech
What does PNC Infratech Ltd do?
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What is the 52-week high and low of PNC Infratech Ltd?
Does PNC Infratech Ltd pay dividends?
What is the Return on Equity (ROE) of PNC Infratech Ltd?
Company Information
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.
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