External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Robust &amp; Diversified Order Book As of 30th Sep, 2025, PNCIL’s order book stood at Rs 20,100 Cr, over 3.1x FY25 revenue, ensuring visibility for the next 2–2.5 years.</li><li>In line with its diversification strategy, the company is broadening its bidding focus beyond roads to other sectors, aimed at reducing sectoral dependence and building a more resilient revenue base.</li><li>We expect PNCIL to deliver a revenue CAGR of 12% over FY25–27E.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Robust &amp; Diversified Order Book As of 30th Sep, 2025, PNCIL’s order book stood at Rs 20,100 Cr, over 3.1x FY25 revenue, ensuring visibility for the next 2–2.5 years.In line with its diversification strategy, the company is broadening its bidding focus beyond roads to other sectors, aimed at reducing sectoral dependence and building a more resilient revenue base.We expect PNCIL to deliver a revenue CAGR of 12% over FY25–27E.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech Ltd - Cut Esitmates On Revised Guidance; Maintain HOLD

<ul><li>Robust &amp; Diversified Order Book As of June 30, 2025, PNCIL’s order book stood at Rs 17,096 Cr, over 3.1x FY25 revenue, ensuring visibility for the next 2–2.5 years.</li><li>In line with its diversification strategy, the company is broadening its bidding focus beyond roads to other sectors, aimed at reducing sectoral dependence and building a more resilient revenue base.</li><li>We expect PNCIL to deliver a revenue CAGR of 17% over FY25–27E.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Robust &amp; Diversified Order Book As of June 30, 2025, PNCIL’s order book stood at Rs 17,096 Cr, over 3.1x FY25 revenue, ensuring visibility for the next 2–2.5 years.In line with its diversification strategy, the company is broadening its bidding focus beyond roads to other sectors, aimed at reducing sectoral dependence and building a more resilient revenue base.We expect PNCIL to deliver a revenue CAGR of 17% over FY25–27E.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech Ltd - Execution Challenges Weigh on Growth; Downgrade to HOLD

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>PNC Infratech (PNC) reported Q4FY25 revenue/EBITDA/APAT of INR 14.1/1.8/1.2bn, a miss/beat on our estimates by -5.7/+2.9/+9.4%</li><li>FY25 revenue has been impacted by general elections, lower tendering, slower execution, and land availability issues in FY25</li><li>The OB as of Mar’25 stood at INR 177.9bn (~3.5x FY25 revenue)</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech (PNC) reported Q4FY25 revenue/EBITDA/APAT of INR 14.1/1.8/1.2bn, a miss/beat on our estimates by -5.7/+2.9/+9.4%FY25 revenue has been impacted by general elections, lower tendering, slower execution, and land availability issues in FY25The OB as of Mar’25 stood at INR 177.9bn (~3.5x FY25 revenue)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech. - In-Line Performance Aided by Margin Beat

<ul><li>Robust &amp; Diversified Order Book: As of 31st Mar’25, PNCIL’s order book stood at Rs 17,792 Cr, representing over 3.2x FY25 revenue, providing revenue visibility for the next 2- 2.5 years.</li><li>Almost 75% of the current order book is executable.</li><li>Aligned with its diversification strategy, the company is expanding its focus to include bids in the railway and water segments across both state and central projects. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Robust &amp; Diversified Order Book: As of 31st Mar’25, PNCIL’s order book stood at Rs 17,792 Cr, representing over 3.2x FY25 revenue, providing revenue visibility for the next 2- 2.5 years.Almost 75% of the current order book is executable.Aligned with its diversification strategy, the company is expanding its focus to include bids in the railway and water segments across both state and central projects. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech Ltd - Robust & Large Executable Orderbook to Drive Growth

<ul><li>Robust &amp; Diversified Order Book: As of 31st Dec’24, PNCIL’s order book stood at Rs 18,962 Cr, representing over 2.4x FY24 revenue, providing revenue visibility for the next 2-2.5 years.</li><li>Aligned with its diversification strategy, the company is expanding its focus to include bids in the railway and water segments across both state and central projects.</li><li>This approach aims to reduce reliance on the road sector and create a more resilient revenue base.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Robust &amp; Diversified Order Book: As of 31st Dec’24, PNCIL’s order book stood at Rs 18,962 Cr, representing over 2.4x FY24 revenue, providing revenue visibility for the next 2-2.5 years.Aligned with its diversification strategy, the company is expanding its focus to include bids in the railway and water segments across both state and central projects.This approach aims to reduce reliance on the road sector and create a more resilient revenue base.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PNC Infratech Ltd - NHAI Ban to Be Lifted & Robust Order Book To Drive Growth; Upgrade To BUY

India

PNC Infratech Limited operates as an infrastructure construction, development, and management company. The Company constructs highways, bridges, fly-overs, power transmission lines, and airport runways. PNC Infratech also provides construction services for waste management and industrial area development projects.

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PNC Infratech Ltd (PNCL IN)

PNC Infratech Ltd - Cut Esitmates On Revised Guidance; Maintain HOLD

Robust & Diversified Order Book As of 30th Sep, 2025, PNCIL’s order book stood at Rs 20,100 Cr, over 3.1x FY25 revenue, ensuring visibility for the...

Axis Direct

PNC Infratech Ltd - Execution Challenges Weigh on Growth; Downgrade to HOLD

Robust & Diversified Order Book As of June 30, 2025, PNCIL’s order book stood at Rs 17,096 Cr, over 3.1x FY25 revenue, ensuring visibility for the...

Axis Direct

PNC Infratech. - In-Line Performance Aided by Margin Beat

PNC Infratech (PNC) reported Q4FY25 revenue/EBITDA/APAT of INR 14.1/1.8/1.2bn, a miss/beat on our estimates by -5.7/+2.9/+9.4%

HDFC Securities

PNC Infratech Ltd - Robust & Large Executable Orderbook to Drive Growth

Robust & Diversified Order Book: As of 31st Mar’25, PNCIL’s order book stood at Rs 17,792 Cr, representing over 3.2x FY25 revenue, providing...

Axis Direct

PNC Infratech Ltd - NHAI Ban to Be Lifted & Robust Order Book To Drive Growth; Upgrade To BUY

Robust & Diversified Order Book: As of 31st Dec’24, PNCIL’s order book stood at Rs 18,962 Cr, representing over 2.4x FY24 revenue, providing...

Axis Direct

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