ICICI Direct has given Buy recommendation for PNC Infratech with a target price of Rs. 360 in its research report issued on Aug 13, 2021

ICICI Direct’s research report on PNC Infratech

PNC Infratech has established itself as a strong executor in roads, water infra and airport runway segments. Additionally, superior execution capabilities via ownership of modern equipment and in-house teams enables it to deliver projects on-time. PNC has executed 70 major infrastructure projects till date.Reported 19.8% revenue CAGR in FY16-21. Operating margin was in the range of 13-15% Proficient execution, robust return ratios (RoCE: ~20%)

Outlook

We maintain our BUY rating on the company We value PNC at Rs 360/share.

 

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