PNC Infratech Ltd

📊 PNC Infratech’s Order Book Hits ₹20K Cr+ | FY26 Growth Revised to 5%

- Unexecuted order book (Sep 30, 2025): ₹20,000+ Cr (Highways 55%, Water/Canal/Railways 30%, Coal Mining 15%)

- FY26 new order target: ₹6,000+ Cr (focus on HAM & EPC)

- Recent project wins: High-level bridge (Bihar), Varanasi Airport, Solar Power-Cum-BESS

- FY26 CAPEX: ₹200 Cr | FY27 CAPEX: ₹250 Cr

- FY26 revenue growth guidance revised from 15-20% to 5% (delayed approvals, slow NHAI activity)

- JJM/Irrigation projects: Expected ₹900 Cr revenue in FY26 (₹235 Cr already in H1)

- Mathura 1B HAM project (Yamuna Highways subsidiary) operational since Aug 30, 2025

- Q2 FY26 standalone: Revenue ₹983 Cr, EBITDA ₹136 Cr (13.9% margin), PAT ₹86 Cr (8.8% margin)

- Q2 FY26 consolidated: Revenue ₹1,128 Cr, EBITDA ₹253 Cr (22.4% margin), PAT ₹216 Cr (19.1% margin)

- Cash balance (consolidated): ₹2,736 Cr (Sep 30, 2025)

- Net debt/equity: 0.14x (standalone), 0.76x (consolidated)

- 4 subsidiaries’ credit ratings upgraded in Q2