Earnings Outlook
Weak order inflows to drag down PNC Infratech Q1 PAT
This story was originally published at 12:08 IST on 13 August 2025
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By Arundathi A R
MUMBAI – PNC Infratech Ltd. is expected to post a double-digit fall in its bottom line for the June quarter, according to brokerages tracking the company. This decline is primarily due to the weak order inflows the company has seen in the reporting quarter. The company is also expected to see an on-year decline in its revenue.
The infrastructure development and construction company is expected to post a net profit of INR 1.21 billion for the June quarter, down 71% on year but up marginally over the trailing quarter, according to the average of estimates from seven brokerages. The company's net sales for the latest quarter are expected at INR 16.11 billion, down 7.6 % on year but up 14% on quarter.
Antique Stock Broking Ltd. has the highest estimate for net profit at INR 1.39 billion for the June quarter and HDFC Securities Ltd. has the lowest estimate at INR 1 billion. Nirmal Bang Equities Pvt. Ltd. has the highest estimate for net sales for the reporting quarter at INR 21.11 billion and HDFC Securities has the lowest estimate at INR 13.4 billion.
The challenges in projects being awarded, land acquisition, and delays in execution are expected to drag the order inflows for the highway construction segment of the company. The company's order inflow is expected at INR 2 billion for the June quarter, according to Antique.
PNC is expected to post 41% growth in net profit growth for the reporting quarter, lowest among its peer companies such as KEC and Ahluwalia due to weak order inflows, according to JM Financial Institutional Securities Pvt. Ltd.
The management has given a guidance of INR 150 billion as the company's order inflow for 2025-26 (Apr-Mar) with plans to diversify into new segments such as the metro, airports, coal MDO (mine developer cum operator), and BESS (battery energy storage system), according to Antique Stock Broking.
The company's current order book is INR 177 billion and 63% of this comes from highway contracts while 37% comes from contracts from water, canal, industrial, and railway projects. The construction of a flyover from Heeradas Chouraha to Kumher Gate Chouraha in Rajasthan is one of the key orders received by the company in the June quarter.
The company's earnings before interest, taxes, depreciation, and amortisation for the June quarter are expected to be INR 1.84 billion, according to the average of estimates from six brokerages. The highest estimate for EBITDA is INR 2.02 billion by Antique Stock and the lowest estimate is INR 1.6 billion by HDFC Securities. The company's EBITDA margin for the reporting quarter is expected to fall 340 basis points to 9% from 12.4% in the trailing quarter, according to Nirmal Bang.
The company will announce its earnings for the June quarter Wednesday. Market participants will watch the management's commentary on the new order inflow and execution of projects.
At 1101 IST, shares of PNC Infratech traded at INR 308.95 on the National Stock Exchange, up almost 1%. The stock is up almost 6%since the company reported its March quarter earnings.
Of the 11 brokerage reports on the company available with Informist, seven have a "buy" recommendation on the stock at an average target price of INR 372 while four have a "hold" recommendation.
Following are the Apr-Jun earnings estimates for PNC Infratech Ltd., in INR million, based on reports from seven broking firms in the descending order of estimate of net profit:
Brokerages | Net sales | Net profit | EBITDA |
Antique Stock Broking Ltd. | 18,316.00 | 1,398.00 | 2,015.00 |
JM Financial Institutional Securities Pvt. Ltd. | 15,056.00 | 1,327.00 | 1,888.00 |
Nirmal Bang Equities Pvt. Ltd. | 21,107.00 | 1,282.00 | 1,891.00 |
Anand Rathi Share and Stock Brokers Ltd. | 15,405.00 | 1,176.00 |
|
Nuvama Wealth Management Ltd. | 15,119.00 | 1,157.00 | 1,858.00 |
Dolat Capital Market Pvt. Ltd. | 14,401.00 | 1,146.00 | 1,801.00 |
HDFC Securities Ltd. | 13,400.00 | 1,000.00 | 1,600.00 |
Average | 16,114.86 | 1,212.29 | 1,842.17 |
End
Edited by Deepshikha Bhardwaj
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