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Informist, Saturday, Aug. 8, 2026

MUMBAI – PNC Infratech Ltd. is expected to report flat year-on-year revenue growth for the June quarter due to low execution and subdued new order inflows, according to brokerages tracking the company. Low awards of projects in the roads segment will also drag down revenue growth. 

 

PNC Infratech is expected to report a net profit of INR 852.13 million for the June quarter, up 5.5% on year but down more than 15% sequentially, according to the average of estimates from eight brokerages. The company had reported a net profit of INR 807.72 million in the year-ago quarter. The highest estimate for the company's net profit is INR 892 million from Prabhudas Lilladher Pvt. Ltd. and the lowest is INR 730 million from PhillipCapital (India) Pvt. Ltd.

 

The company's net sales are expected to be INR 12.47 billion for the June quarter, up almost 10% on year but down more than 14% on quarter, according to the average of estimates. The company had reported net sales of INR 11.36 billion in the year-ago quarter. The highest estimate for the company's net sales for the June quarter is INR 13.41 billion from Anand Rathi Share and Stock Brokers Ltd. and the lowest is INR 11.50 billion from HDFC Securities Ltd. The company had reported net sales of INR 11.36 billion a year ago and INR 14.57 billion a quarter ago.

 

The company's revenue growth is expected to remain flat on year due to a slowdown in project execution caused by labour shortage, Axis Securities Ltd. said. Subdued fresh order inflows due to low number of projects being awarded, particularly from the road segment, will also contribute to the low growth, the brokerage added.

 

An improvement in the payment cycle from the government and easing commodity prices are expected to boost the company's earnings, Nuvama Wealth Management Ltd. said. The company's profit margin is likely to shrink 65 basis points on year, the brokerage added.

 

The company is expected to report earnings before interest, tax, depreciation, and amortisation of INR 1.47 billion for the June quarter, up over 4% on year but down 16% sequentially, according to the average of seven estimates. The highest estimate for the company's EBITDA for the June quarter is INR 1.58 billion from SMIFS Ltd. and the lowest is INR 1.24 billion from PhillipCapital. The company had reported an EBITDA of INR 1.41 billion in the year ago quarter.

 

The company's EBITDA margin is likely to fall 90 basis points on year due to higher costs of inputs such as bitumen, labour, and logistics, as per Axis Securities and Nuvama. The company's debt and working capital are expected to remain stable or increase moderately due to the monsoon season as this slows down project execution, brokerages said.

 

For the sector, highway project awards are expected to remain moderate at the start of the September quarter but improve sequentially through the financial year 2026-27, as project awards will accelerate and execution conditions will normalise, Axis Securities said.

 

PNC Infratech is an infrastructure investment, development, construction, operation, maintenance, and management company. The company specialise in the construction of bridges, flyovers, airport pavements, roads, highways, expressways, industrial area development, power transmission projects, and rural drinking water supply projects. The company will detail its June quarter earnings Saturday.

 

Shares of the company ended Friday at INR 224.38 on the National Stock Exchange, down 6.4%. The stock is up 5.3% since the company reported its March quarter earnings on May 19. Of the 12 brokerage reports on the company available with Informist, 10 have a 'buy' recommendation on the stock, with an average target price of INR 296 per share. This signifies an upside of 32% from the current market price. Two brokerages have a ‘hold' recommendation on the stock with an average target price of INR 225.

 

The following are the June quarter earnings estimates for PNC Infratech Ltd. from eight brokerages in descending order of the estimate of consolidated net profit, in INR million:

 

Brokerage name	Net Sales	Net Profit	EBITDA
Prabhudas Lilladher Pvt. Ltd.	12,501	892	1,500
Nuvama Wealth Management Ltd.	13,220	890	1,548
SMIFS Ltd.	12,973	890	1,583
Anand Rathi Share and Stock Brokers Ltd.	13,417	877	--
Axis Securities Ltd.	12,120	870	1,520
JM Financial Institutional Securities Pvt. Ltd.	12,501	868	1,500
HDFC Securities Ltd.	11,500	800	1,400
PhillipCapital (India) Pvt. Ltd.	11,592	730	1,240
Average	12,478	852.13	1,090

 

End

 

Reported by Ritwika Dutta 

Edited by Pankaj Aher

 

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