The company builds and operates highways, expressways, and related infrastructure, primarily for NHAI and state government agencies. In FY26 it reported consolidated revenue of INR 5,368 crore, earned across three segments: Road construction (75.8% of segment revenue) covering EPC and HAM highway projects for NHAI and state PWDs; Toll/Annuity (13.3%) from operating toll roads and receiving annuity payments under HAM concessions; and Water (10.9%) from pipelines, treatment plants, and canal works under the Jal Jeevan Mission and similar state schemes. The unexecuted order book stood at INR 22,000+ crore at the end of FY26, providing 3+ years of revenue visibility, with highways at 62%, water/canal/rail/airport at 25%, and coal mining at 13%. Beyond roads, the company is taking on solar EPC (INR 2,000 crore pipeline), coal mining execution, and airport works such as the Pantnagar Airport EPC (INR 302.44 crore). Materials account for 62.7% of revenue — the largest cost driver — with bitumen, fuel, steel, and cement being key inputs, partly compensated by MoRTH's cost escalation mechanism effective April 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Road (76%), Toll/Annuity (13%), Water (11%). Cyclical, asset-heavy civil construction and infrastructure (EPC, HAM, BOT-Toll)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 7,208 | 7,956 | 8,650 | 6,769 | 5,368 |
| EBITDA (ex other income) | 1,533 | 1,600 | 2,005 | 2,066 | 1,629 |
| margin % | 21.3 | 20.1 | 23.2 | 30.5 | 30.3 |
| Owners' profit | 580 | 658 | 909 | 815 | 832 |
| EPS, as reported (₹) | 22.63 | 25.67 | 35.45 | 31.79 | 32.42 |
| ROE % · ROCE % | 16.0 · 13.8 | 15.4 · 13.3 | 17.5 · 14.3 | 13.6 · 13.0 | 12.2 · 13.5 |
| Debt / equity (x) | 1.32 | 1.46 | 1.55 | 1.56 | 0.76 |
| Cash from operations | (499) | (1,454) | (231) | (56) | 4,593 |
| Capex | (81) | (63) | (51) | (35) | (326) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,427 | 1,470 | 1,704 | 1,423 | 1,128 | 1,201 | 1,617 | 1,688 |
| Profit before tax | 149 | 124 | 151 | 502 | 292 | 118 | 155 | 432 |
| Net profit | 83 | 81 | 75 | 431 | 216 | 77 | 108 | 332 |
| EPS (₹) | 3.25 | 3.17 | 2.94 | 16.81 | 8.41 | 2.99 | 4.20 | 12.94 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Road | 3,250 | 60.5 |
| Water | 453 | 8.4 |
| Toll/Annuity | 301 | 5.6 |
| ROAD | 821 | 15.3 |
| WATER | 131 | 2.4 |
| TOLL/ANNUITY | 176 | 3.3 |
| Toll/annuity | 237 | 4.4 |
| Total, before eliminations | 5,368 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Sept 2026 · Public notice on dispatch of 27th AGM notice and FY26 Annual Report | compliance | minimal | — | — |
| 7 Sept 2026 · PNC Infratech sends AGM notice to shareholders without email IDs | compliance | minimal | — | — |
| 7 Sept 2026 · PNC Infratech 27th AGM on Sept 30, 2026 with Rs 0.60 final dividend | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Notice of 27th AGM published; meeting on September 30, 2026 | compliance | minimal | — | — |
| 18 Aug 2026 · PNC Infratech subsidiary Awadh Expressway rating reaffirmed at CARE A+, placed on watch | credit debt | medium | — | — |
| 10 Aug 2026 · Audio recording of Q1 FY27 earnings call shared with exchanges | investor communications | low | — | — |
| 10 Aug 2026 · PNC Infratech publishes Q1 FY27 results in newspapers | compliance | minimal | — | — |
| 10 Aug 2026 · PNC Infra Q1 FY27: Revenue up 34%, PAT jumps 235%, margins expand to 24.7% | investor communications | medium | — | — |
| 8 Aug 2026 · PNC Infratech Q1 FY27: Revenue up 33%, PAT at Rs 271 Cr standalone | compliance | low | — | — |
| 8 Aug 2026 · PNC Infratech fixes Sept 23 2026 as record date for FY26 final dividend | corporate actions | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| LARSEN & TOUBRO LTD. | 5,40,766 | 32.6 | 4.21 | 19.5 | 14.7 | 11.9 | 16.0 | 12.5 |
| RAIL VIKAS NIGAM LIMITED | 42,722 | 47.5 | 4.35 | 30.4 | 8.9 | 7.5 | 5.8 | 7.5 |
| KALPATARU PROJECT INT LTD | 24,541 | 21.6 | 3.17 | 11.1 | 13.3 | 15.0 | 16.0 | 10.0 |
| IRB INFRA DEV LTD. | 23,770 | 18.2 | 1.13 | 10.5 | 4.1 | 2.5 | 7.6 | 55.6 |
| NBCC (INDIA) LIMITED | 22,383 | 30.3 | 6.96 | 18.8 | 23.1 | 29.7 | 13.5 | 9.6 |
| CEMINDIA PROJECTS LIMITED | 21,472 | 35.7 | 8.95 | 18.2 | 24.9 | 31.7 | 29.8 | 10.5 |
| ENGINEERS INDIA LTD | 15,144 | 19.3 | 4.81 | 16.9 | 22.0 | 26.5 | 4.6 | 20.1 |
| TECHNO ELEC & ENG CO. LTD | 11,339 | 26.3 | 2.73 | 18.6 | 11.4 | 12.4 | 29.6 | 20.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 6.1 | 14.9 | 20 of 107 | 82% |
| P/B | 0.7 | 1.4 | 16 of 86 | 82% |
| ROCE | 8.8 | 10.0 | 60 of 109 | 45% |
| ROE | 12.2 | 9.2 | 34 of 91 | 63% |
| Debt / Equity | 0.8 | 0.3 | 73 of 91 | 20% |
| EBITDA margin | 35.2 | 12.4 | 7 of 88 | 93% |
| Revenue growth | 18.7 | 6.2 | 30 of 86 | 66% |
| Profit growth | (23.0) | 2.7 | 53 of 84 | 37% |
| Market cap | 4496 | 485 | 21 of 108 | 81% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
