PNC Infratech Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Road: 87.4% • Water: 12.6%
AI Sector View
AI GENERATEDConstruction
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.
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
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| LT | 3955.00 | 32.80 | 544155.04 | 0.96 | 4988.03 | 15.51 | 67941.74 | 6.69 | 15.98 | 12.00 |
| RVNL | 205.35 | 47.60 | 42815.89 | 0.35 | 159.52 | 18.73 | 4321.23 | 10.55 | 10.81 | 4.41 |
| KPIL | 1433.05 | 21.53 | 24472.56 | 0.77 | 311.53 | 45.85 | 6407.97 | 3.84 | 18.95 | 8.77 |
| IRB | 19.92 | 25.22 | 24059.38 | 1.31 | 3062.70 | 1412.58 | 21372.72 | 918.25 | 7.72 | 53.93 |
| CEMPRO | 1251.60 | 35.74 | 21500.93 | 0.24 | 140.83 | 2.64 | 2720.92 | 7.02 | 33.53 | 10.09 |
| ENGINERSIN | 271.95 | 19.49 | 15284.74 | 1.84 | 157.94 | 141.49 | 819.84 | -5.80 | 30.94 | 20.61 |
| TECHNOE | 979.75 | 26.43 | 11394.45 | 0.71 | 93.33 | -31.44 | 630.34 | 19.84 | 14.86 | 15.79 |
| WELENT | 798.40 | 36.16 | 11050.96 | 0.38 | 56.36 | -44.29 | 773.72 | -8.44 | 16.44 | 19.49 |
| KEC | 413.35 | 19.88 | 11003.38 | 1.33 | 72.62 | -41.72 | 5023.54 | 0.01 | 16.35 | 5.79 |
| IRCON | 115.30 | 20.71 | 10844.15 | 1.65 | 92.03 | -43.92 | 1955.83 | 9.49 | 10.15 | 9.81 |
| AFCONS | 260.90 | 66.31 | 9595.50 | 0.77 | 303.00 | 120.52 | 26710.00 | 692.49 | 12.88 | 9.42 |
| PNCINFRA | 177.15 | 6.21 | 4544.59 | 0.34 | 331.93 | -23.04 | 1688.46 | 18.67 | 12.08 | 31.01 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - PNC Infratech Limited has informed the Exchange about Copy of Newspaper Publication
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 - PNC Infratech Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 30, 2026
2026-09-05 - PNC Infratech Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-26 - PNC Infratech Limited has informed the Exchange about Credit Rating
2026-08-18 - PNC Infratech Limited has informed the Exchange about Credit Rating
2026-08-14 - PNC Infratech Limited has informed the Exchange about Transcript
2026-08-10 - PNC Infratech Limited has informed the Exchange about Link of Recording
2026-08-10 - PNC Infratech Limited has informed the Exchange about Copy of Newspaper Publication
News
Recent coverage and analyst commentary for PNCINFRA
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