PNC Infratech Ltd.

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pncinfratech.comBSE: 539150NSE: PNCINFRA

Market Cap₹ 4,545 Cr.

Current Price

High / Low₹ 325 / 158

Stock P/E8.5

Book Value₹ 237

Price to Book0.71

Dividend Yield0.34 %

ROCE9.1 %

ROE6.1 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Road: 87.4% • Water: 12.6%

AI Sector View

AI GENERATED

Construction

Buy

Construction fundamentals are strong, led by government and infrastructure spending. Capital expenditure was up 66% YoY (2026-06), cement output grew 13.1% YoY (2026-07), and the sector also benefits from improving housing and GFCF conditions. FPI flows turned supportive with INR 1720 crore net inflow over 3 months to 2026-08-31 from INR -9439 crore in the prior 3 months, reinforcing the positive view.

Confidence

80%

View full sector analysis →

PROS

Latest quarter profit grew 235.1% YoY, showing strong momentum
Company generates healthy free cash flow
Stock looks reasonably valued - P/E of 8.5 is below its historical median
Company has a consistent dividend-paying track record
Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
Company's sales have been declining over the last five years
Total debt has risen sharply - up 85.3% year on year
Company has delivered a poor profit growth of -1.0% over past five years
Working capital days have increased from 168 to 230 days
Contingent liabilities are large at 54.9% of net worth

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

ConstructionInfrastructureEngineering - Construction

Part ofNIFTY MICROCAP250 NIFTY TOTAL MKT

S.No.	Name
1.	LT	3955.00	32.80	544155.04	0.96	4988.03	15.51	67941.74	6.69	15.98	12.00
2.	RVNL	205.35	47.60	42815.89	0.35	159.52	18.73	4321.23	10.55	10.81	4.41
3.	KPIL	1433.05	21.53	24472.56	0.77	311.53	45.85	6407.97	3.84	18.95	8.77
4.	IRB	19.92	25.22	24059.38	1.31	3062.70	1412.58	21372.72	918.25	7.72	53.93
5.	CEMPRO	1251.60	35.74	21500.93	0.24	140.83	2.64	2720.92	7.02	33.53	10.09
6.	ENGINERSIN	271.95	19.49	15284.74	1.84	157.94	141.49	819.84	-5.80	30.94	20.61
7.	TECHNOE	979.75	26.43	11394.45	0.71	93.33	-31.44	630.34	19.84	14.86	15.79
8.	WELENT	798.40	36.16	11050.96	0.38	56.36	-44.29	773.72	-8.44	16.44	19.49
9.	KEC	413.35	19.88	11003.38	1.33	72.62	-41.72	5023.54	0.01	16.35	5.79
10.	IRCON	115.30	20.71	10844.15	1.65	92.03	-43.92	1955.83	9.49	10.15	9.81
11.	AFCONS	260.90	66.31	9595.50	0.77	303.00	120.52	26710.00	692.49	12.88	9.42
12.	PNCINFRA	177.15	6.21	4544.59	0.34	331.93	-23.04	1688.46	18.67	12.08	31.01

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,861	1,693	1,803	2,342	1,744	1,149	1,205	1,415	1,136	983	1,056	1,458	1,518
	1,616	1,465	1,563	1,777	1,151	1,015	1,059	1,239	996	847	925	1,282	1,196
Operating Profit	245	228	239	565	593	134	146	176	141	136	131	175	322
OPM %	13.17%	13.45%	13.28%	24.13%	34.02%	11.63%	12.11%	12.43%	12.36%	13.86%	12.40%	12.02%	21.21%
	8	6	4	10	9	13	16	29	10	24	21	22	42
Interest	16	19	17	14	13	15	22	27	21	22	22	30	20
Depreciation	25	26	26	27	22	23	23	22	19	21	26	29	33
Profit before Tax	212	189	200	535	567	109	118	156	110	118	105	138	364
Tax %	25.97%	26.05%	24.61%	24.81%	25.70%	25.64%	29.70%	22.36%	26.61%	26.76%	26.91%	27.30%	25.70%
Net Profit	157	140	151	402	421	81	83	121	81	86	77	100	271
	6.10	5.45	5.89	15.68	16.41	3.16	3.22	4.71	3.15	3.36	2.99	3.91	10.55

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,689	1,857	3,097	4,878	4,925	6,306	7,061	7,699	5,513	4,633	5,015
	1,468	1,538	2,640	4,114	4,249	5,519	6,107	6,431	4,466	4,057	4,251
Operating Profit	221	319	457	764	677	787	954	1,268	1,047	577	764
OPM %	13.08%	17.17%	14.77%	15.67%	13.74%	12.48%	13.51%	16.47%	18.99%	12.45%	15.24%
	47	23	43	88	71	55	38	37	68	84	110
Interest	20	31	64	114	77	80	64	66	76	95	94
Depreciation	53	77	92	126	112	130	110	103	90	95	108
Profit before Tax	194	234	344	612	559	631	818	1,136	949	471	725
Tax %	-8.13%	-7.32%	5.56%	24.79%	35.19%	29.08%	25.28%	25.20%	25.64%	26.92%	26.35%
Net Profit	210	251	325	460	362	448	611	850	706	344	534
EPS	8.17	9.79	12.67	17.94	14.11	17.46	23.84	33.13	27.50	13.41	—
Dividend Payout %	6.12%	5.11%	3.95%	2.79%	3.54%	2.86%	2.10%	1.81%	2.18%	4.47%	—

COMPOUNDED SALES GROWTH

10 Years:: 9%
5 Years:: -1%
3 Years:: -13%

COMPOUNDED PROFIT GROWTH

10 Years:: 4%
5 Years:: -1%
3 Years:: -17%

STOCK PRICE CAGR

10 Years:: 4%
5 Years:: -13%
3 Years:: -21%
1 Year:: -42%

RETURN ON EQUITY

10 Years:: 15%
5 Years:: 14%
3 Years:: 13%
Last Year:: 6%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	51	51	51	51	51	51	51	51	51	51
	1,521	1,755	2,064	2,495	2,857	3,289	3,890	4,730	5,424	5,760
	333	335	563	971	822	948	1,063	976	1,127	1,125
Trade Payables	237	463	474	468	719	508	679	933	908	785
	291	58	396	304	385	491	363	529	560	456
Total Liabilities	2,433	2,663	3,548	4,289	4,834	5,287	6,047	7,219	8,070	8,178
	348	406	615	588	656	589	535	474	408	628
Capital Work in Progress	8	11	6	0	3	0	0	0	0	4
	468	495	573	735	847	871	1,691	1,664	2,171	2,856
	153	176	404	267	354	481	764	765	861	761
	0	0	0	0	2	2	3	1,951	1,729	1,660
Cash & Bank	35	147	309	740	768	528	373	713	682	610
	1,421	1,427	1,641	1,958	2,204	2,816	2,680	1,653	2,218	1,659
Total Assets	2,433	2,663	3,548	4,289	4,834	5,287	6,047	7,219	8,070	8,178

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-25	304	387	974	473	483	63	1,261	551	-179
Cash from Investing	-171	-155	-351	-231	-275	-308	-114	-786	-543	-151
Cash from Financing	110	-65	127	-152	7	-280	153	-151	-79	225
	-70	102	146	430	5	-281	-114	323	-70	-105

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	56.07	56.07	56.07	56.07	56.07	56.07	56.07	56.07	56.07
	10.83	10.05	6.95	7.10	7.14	6.99	6.95	7.18	7.28
	26.36	25.50	26.60	26.26	25.90	26.51	26.22	24.55	23.83
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	6.74	8.38	10.37	10.57	10.90	10.43	10.77	12.21	12.81

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

Copy of Newspaper Publication

2026-09-08 - PNC Infratech Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-07

General Updates

2026-09-07 - PNC Infratech Limited has informed the Exchange about letters sent to Sahreholders who have not registered their mail id

2026-09-07

Shareholders meeting

2026-09-07 - PNC Infratech Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026

2026-09-05

Copy of Newspaper Publication

2026-09-05 - PNC Infratech Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-26

Credit Rating

2026-08-26 - PNC Infratech Limited has informed the Exchange about Credit Rating

2026-08-18

Credit Rating

2026-08-18 - PNC Infratech Limited has informed the Exchange about Credit Rating

2026-08-14

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - PNC Infratech Limited has informed the Exchange about Transcript

2026-08-10

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-10 - PNC Infratech Limited has informed the Exchange about Link of Recording

2026-08-10

Copy of Newspaper Publication

2026-08-10 - PNC Infratech Limited has informed the Exchange about Copy of Newspaper Publication

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