News: Standalone revenue during Q4FY24 was up ~10.8% YoY at ₹ 2342 crore. EBITDA margin stood at 24.1% (up 9.8 percentage pts YoY) aided by claims receipt of ₹ 297 crore. Adjusted margins were stable at 13.1%. PAT was up ~118% YoY at ₹ 402 crore (Adjusted PAT was flattish YoY).
Views: PNC’s order book (OB), including new orders was healthy at ₹ 20400 crore, 2.7x book to bill. It expects to receive further inflows of ₹ 8000-10000 crore in FY25. The company has guided for 10% topline growth in FY25 with 12-12.5% margins. It would further get ₹ 370 crore claims benefits in Q1FY25 at standalone levels. Most importantly, the company has monetised 12 assets at ₹2,902 crore on an invested equity of ₹1,740 crore, which makes it cash rich and well capitalised for long term growth ahead.
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