PNC Infratech Limited

NSE: PNCINFRA · Civil Construction

52W Range₹158 ₹325

Snapshot

Unlock PNC Infratech Limited's vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

PNC Infratech Limited is an Indian infrastructure construction and development company specialising in highways, bridges, flyovers, and airport runways. The firm provides end-to-end implementation solutions, ranging from engineering and procurement to complex public-private partnership models.

Business Model

The company generates revenue through engineering, procurement, and construction (EPC) services on both fixed-sum turnkey and item rate bases. Additionally, it executes projects under various public-private partnership frameworks, including hybrid annuity models and design-build-finance-operate-transfer structures.

Growth Outlook

Growth is driven by the continued expansion of India's national highway network and the government's focus on developing industrial corridors and rail freight infrastructure. The company leverages its technical expertise to secure diverse infrastructure projects across the country.

Key Risks

  • Project Execution Delays. Infrastructure projects are susceptible to delays caused by land acquisition issues, regulatory clearances, and adverse weather conditions.
  • Concentration Risk. The company's heavy reliance on government-funded infrastructure projects makes it vulnerable to changes in public spending priorities and budgetary allocations.
  • Interest Rate Sensitivity. High debt levels associated with capital-intensive infrastructure projects expose the company to fluctuations in interest rates and financing costs.
  • Working Capital Intensity. The business model requires significant upfront capital investment, which can strain liquidity if payments from project authorities are delayed.

Price

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Key Metrics

REVENUE

₹5,368 Cr

TTM · consolidated

-20.7%YoY

NET PROFIT

₹832 Cr

TTM · consolidated

+2.0%YoY

EPS

₹32.41

TTM · consolidated

+2.0%YoY

RETURN ON EQUITY

13.4%

TTM · consolidated

-1.7 ppYoY

RETURN ON CAPITAL EMPLOYED

11.1%

TTM · consolidated

-3.6 ppYoY

P/E

7.5x

Q4 FY26 · consolidated

7.5 vs 10.3x5Y avg

EV/EBITDA

8.2x

Q4 FY26 · consolidated

8.2 vs 6.8x5Y avg

EBITDA MARGIN

23.8%

TTM · consolidated

-9.3 ppYoY

NET PROFIT MARGIN

6.7%

Q4 FY26 · consolidated

+2.3 ppYoY

DEBT TO EQUITY

0.8x

Q4 FY26 · consolidated

-0.80xYoY

Peers · Civil Construction

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
PNC Infratech LimitedPNCINFRA
4,4677.538.25-20.7%23.8%13.4%11.1%-21.6%
Ceigall India Ltd.CEIGALL
4,61816.979.3665.9%19.0%67.4%83.5%+24.6%
Ahluwalia Contracts (India) LimitedAHLUCONT
4,58318.249.0035.9%10.9%17.0%20.8%-21.5%
Hindustan Construction Company LimitedHCC
3,86127.007.30-29.2%17.0%13.7%20.0%-20.9%
Sterling and Wilson Renewable Energy LimitedSWSOLAR
3,831-16.6511.8719.8%6.7%-32.2%-7.8%-32.9%
Man Infraconstruction LimitedMANINFRA
3,55220.0014.03-43.1%46.1%11.2%14.0%-43.4%

As of Q4 FY26

Financials