Buy PNC Infratech, target price Rs 378: Anand Rathi

Anand Rathi has buy call on PNC Infratech with a target price of Rs 378. The current market price of PNC Infratech Ltd. is Rs 263.1. Time period given by analyst is one year when PNC Infratech Ltd. price can reach defined target.

PNC Infratech Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 6803.42 Crore) operating in Infrastructure sector.

PNC Infratech Ltd. key Products/Revenue Segments include Contract Revenue, Material and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 1739.40 Crore, down -4.72 % from last quarter Total Income of Rs 1825.48 Crore and up 7.57 % from last year same quarter Total Income of Rs 1616.93 Crore. Company reported net profit after tax of Rs 77.80 Crore in latest quarter.

Investment Rationale
The company was a key beneficiary of the NHAI spurt in road awarding, having bagged seven hybrid annuity projects entailing a cumulative bid-project cost of ~Rs84.5bn. It was also successful with a rural water-supply order in Uttar Pradesh of ~Rs23.4bn in Q4 FY22.

Promoter/FII Holdings
Promoters held 56.07 per cent stake in the company as of 31-Mar-2022, while FIIs owned 9.99 per cent, DIIs 26.83 per cent.