PNC Infratech Limited

PNC Infratech Limited

PNCINFRA.BO
PNC Infratech LimitedIN flagBombay Stock Exchange
241.60
INR
+0.40
- -
61.58BMarket Cap
PNC Infratech Limited
PNCINFRA.BO
(Bombay Stock Exchange)

Recent

price

241.60

P/E

ratio

- -

div

yld

- -

ROIC.AI

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
70.5
108.5
81.39
88.19
140.01
210.13
213.62
267.22
289.37
308.15
263.89
209.3
209.2
Revenue per Share
3.56
8.13
4.61
9.47
13.7
21.43
19.39
22.62
25.67
35.45
31.79
32.42
32.41
Basic EPS, GAAP
-28.87
-4.49
2.96
17.53
-3.94
16.92
0.06
-22.59
-59.15
-10.99
-3.55
166.37
- -
Free Cash Flow per Basic Share
0.36
0.36
0.63
0.5
0.5
0.99
- -
0.5
0.5
0.5
0.6
0.6
- -
Dividend per Share
21.66
29.88
33.87
42.77
55.86
76.51
95.96
118.37
143.97
179.05
210.43
2
2
Book Value per Share
-58.31
-34
-23.1
-7.05
15.89
45.51
74.59
106.71
137.63
175.54
210.94
263.14
263.02
Tangible Book Value per Share
257
257
257
257
257
257
257
257
257
257
257
256
257
Basic Weighted Avg Shares
18,085
27,836
20,879
22,623
35,918
53,908
54,802
68,552
74,235
79,052
67,687
53,681
53,681
Sales/Revenue/Turnover
10.99
13.6
11.17
17.45
13.7
14.23
13.73
13.7
10.98
13.76
27.65
18.9
18.9
Operating Margin (%)
603
2,127
2,416
2,618
3,465
3,507
3,617
3,850
2,533
1,768
1,945
1,221
1,221
Depreciation Expense
913
2,087
1,183
2,430
3,514
5,499
4,974
5,802
6,585
9,094
8,154
8,315
8,317
Net Income, GAAP
34.4
- -
- -
- -
2.31
23.55
33.42
27.99
31.23
27.17
31.57
22.04
22.04
Effective Tax Rate (%)
5.05
7.5
5.66
10.74
9.78
10.2
9.08
8.46
8.87
11.5
12.05
15.49
15.49
Profit Margin (%)
998
4,557
4,193
4,340
7,969
11,676
11,745
11,732
13,197
24,160
30,603
45,945
45,945
Working Capital
13,042
15,713
16,734
18,427
25,151
32,505
37,368
43,471
55,662
72,703
87,249
47,493
47,493
LT Debt
7,414
13,579
14,610
16,887
20,244
25,543
30,527
36,279
42,850
51,848
59,890
68,130
68,130
Total Equity
- -
- -
- -
- -
11.3
10.78
7.52
8.64
5.91
6.67
8.98
5.79
5.79
Return on Invested Capital (%)
- -
- -
- -
- -
18.53
17.97
12.69
12.08
10.91
12.22
10.21
12.86
12.86
Return on Capital (%)
- -
31.57
14.46
24.72
27.77
32.39
22.48
21.1
19.57
21.95
16.32
30.52
30.53
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
ST Debt
4,920
- -
4,205
LT Borrowings
45,608
- -
47,343
LT Finance Leases
160
- -
151
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
257
- -
257
Market Capitalization
75,339
64,459
41,068

Working Capital

FRC

in mil. unless spec.
Sep'26
Dec'26
Mar'26
Total Current Assets
62,617
- -
62,842
Cash, Cash Equivalents & STI
30,111
- -
31,074
Accounts Receivable, Net
15,044
- -
15,091
Inventories
8,130
- -
7,613
Total Current Liabilities
18,670
- -
16,897
Payables & Accruals
- -
- -
- -
ST Debt
4,920
- -
4,205
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
17.59%
17.44%
13.76%
Free Cash Flow
-4,406.78%
-8,728.48%
-4,791.71%
Net Income, GAAP
21.36%
11.98%
1.97%
Sales/Revenue/Turnover
9.87%
0.96%
-20.69%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
20,917
19,114
20,466
18,554
79,052
2025
21,675
14,270
14,700
17,041
67,687
2026
14,228
11,276
12,007
16,170
53,681

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
7.04
5.77
7.21
- -
35.45
2025
22.42
3.25
3.17
2.94
31.79
2026
16.81
8.41
2.99
4.2
32.42

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
0.5
2025
- -
- -
- -
- -
0.6
2026
- -
- -
- -
- -
0.6
Business
PNC Infratech Limited is an Indian infrastructure investment, development, construction, operation, and management company focused on core sectors including highways, expressways, bridges, flyovers, airport runways, power transmission lines, water supply projects, waste management, industrial area development, urban infrastructure, mining services, and solar power projects. The company provides end-to-end solutions encompassing engineering, procurement, and construction (EPC) on a fixed-sum turnkey basis; design-build-finance-operate-transfer (DBFOT) toll projects; hybrid annuity mode (HAM), annuity, operate-maintain-transfer (OMT), and other public-private partnership (PPP) models; as well as long-term operation and maintenance (O&M) services. It executes projects across multiple formats for national highways, state highways, airports, power infrastructure, bridges, runways, sewage systems, smart city initiatives, overburden removal, coal extraction and transport using heavy earth-moving machinery, and energy storage systems integrated with solar installations. Founded in 1999 and headquartered in Agra, Uttar Pradesh, India, PNC Infratech operates primarily in India across states such as Uttar Pradesh, Madhya Pradesh, Karnataka, Rajasthan, Bihar, and Chhattisgarh, serving government entities including the National Highways Authority of India (NHAI), NTPC, South Eastern Coalfields Limited (SECL), and Bihar State Road Development Corporation. In recent developments, the company has divested stakes in 11 out of 12 special purpose vehicles managing approximately 3,800 lane kilometers of highway assets—including 11 national highway HAM projects and one state highway BOT toll project—to KKR-backed Highways Infrastructure Trust and Vertis Infrastructure Trust, with transactions valued at around Rs 9,000 crore and NHAI approvals secured progressively through 2024 and 2025. It has also secured major new contracts, including a Rs 3,489 crore mining order from SECL for the Gevra OCP expansion project involving coal handling, overburden removal, and transport over five years in July 2025; a Rs 1,402 crore letter of award from NTPC in August 2025 for a 300 MW ISTS-connected solar power project with 150 MW/600 MWh energy storage; and a Rs 496 crore EPC contract from Bihar State Road Development Corporation in September 2025 for a high-level bridge and approach road to be completed in three years. These strategic divestments enable capital recycling for growth, while new orders in mining, solar, and bridge construction diversify its portfolio beyond traditional road infrastructure amid NHAI's ambitious FY26 target of 6,300 km in new project awards.