Sharekhan has given Buy recommendation for PNC Infratech with a target price of Rs. 386 in its research report issued on Aug 12, 2021
Sharekhan’s research report on PNC Infratech
Standalone execution and OPM was better than expected in Q1FY2022. The order book at Rs. 15,500 crore, 3x TTM revenues provides strong revenue visibility. The management retains 25-30% standalone revenue growth guidance along with 13.5-14% OPM for FY2022. Order intake target unchanged at Rs. 8000 crore for FY2022. Asset divestment in final stages and is expected to conclude during FY2022. Divestment portfolio comprise equity of Rs. 940 crore and debt of Rs. 4700 crore
We retain a Buy rating on PNC Infratech Limited (PNC) with a revised price target of Rs. 386, owing to a strong order book and healthy earnings growth outlook.