PNC Infratech Ltd

PNC Infratech Limited announced its un-audited financial results for the quarter and half-year ended September 30, 2026. On a standalone basis, Q2 FY27 revenue was ₹1146 crore, EBITDA ₹138 crore, and PAT ₹73 crore. For H1 FY27, standalone revenue was ₹2664 crore, EBITDA ₹513 crore, and PAT ₹343 crore. Consolidated Q2 FY27 revenue stood at ₹1322 crore, EBITDA ₹279 crore, and PAT ₹115 crore. Consolidated H1 FY27 revenue was ₹3011 crore, EBITDA ₹802 crore, and PAT ₹447 crore. The results include arbitration award amounts received from NHAI for the Agra Bypass Project.

PNC Infratech Limited announced its unaudited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. The Board of Directors approved and took on record these results, along with the limited review report from statutory auditors M/s. NSBP & Co. The company also noted a past legal matter concerning NHAI's debarment of its SPV, Arvadh Expressways Private Limited, which was subsequently stayed by the Delhi High Court.

PNC Infratech's consolidated (primary basis) revenue for Q2 FY27 came in at ₹1,322.47 Cr, up 17.3% YoY from ₹1,127.64 Cr but down 21.7% QoQ from Q1 FY27's ₹1,688.46 Cr. Consolidated PAT was ₹114.68 Cr, down 46.8% YoY on a reported basis — but that headline is almost entirely a base-effect: Q2 FY26 carried a ₹162.86 Cr pre-tax exceptional gain (a ₹379 Cr NHAI arbitration award realised through two SPVs, plus a HAM-asset monetisation gain), which lifted that quarter's PAT to ₹215.70 Cr. Stripping that one-off out, adjusted Q2 FY26 PAT works out to roughly ₹95.53 Cr, making this quarter's ₹114.68 Cr an adjusted YoY gain of about +20%, slightly ahead of the 17.3% revenue growth. Standalone PAT fell a much smaller 15.8% YoY (₹86.20 Cr to ₹72.57 Cr) because the bulk of last year's exceptional gain sat at the SPV/subsidiary level and only shows up in consolidated numbers — the two statements tell a materially different YoY story and readers comparing them should account for this. Reported consolidated net profit margin fell from 18.61% (Q2 FY26) and 18.86% (Q1 FY27) to 8.34% this quarter, which looks like sharp compression but is largely optical: on an adjusted basis (excluding last year's exceptional gain), NPM was roughly flat YoY (~8.25% to 8.34%). The QoQ comparison is cleaner on the exceptional-item front — Q1 FY27 had none — but Q1's revenue and margins were flattered by the one-time ₹217.66 Cr Agra Bypass EPC settlement revenue recognised under the 'Vivad Se Vishwas III' scheme, so part of the sequential decline reflects normalisation rather than fresh deterioration. At the segment level, the Road EPC business (the core business) posted a result margin of 8.6% on ₹1,021.80 Cr of segment revenue this quarter, versus management's FY27 guidance of ~12% EBITDA margin — a gap worth watching, though segment 'results' in this filing are reported after depreciation and aren't a like-for-like EBITDA figure. No verified street/analyst consensus for this specific quarter turned up in search, so the print can't be graded against a street number; management also did not issue a press release alongside this filing, so there is no fresh company framing to cross-check against the numbers. Against prior guidance, H1 FY27 consolidated revenue of ₹3,010.93 Cr is almost exactly half of the ₹6,000 Cr FY27 revenue target management set on the last call, keeping the company on track assuming a normal H2 execution ramp; no order-inflow figure was disclosed this quarter against the ₹12,000–15,000 Cr FY27 target. The quarter's dominant corporate development is NHAI's debarment order — SPV Awadh Expressways Private Limited was barred from NHAI/MoRTH bidding on 03.09.2026 over an alleged contractual dispute on the Kanpur-Lucknow Expressway (Package 2), extended to the parent company on 11.09.2026, for three years; the Delhi High Court granted an interim stay on both orders on 13.10.2026, so bidding eligibility is intact for now but the underlying dispute is unresolved. Separately, the company incorporated a wholly-owned Kazakhstan subsidiary (certificate received 07.10.2026) for roads/highways work, an early-stage international diversification step with no revenue contribution yet. Going into Q3, the two swing factors are the NHAI stay (its resolution determines access to the company's largest order-awarding client) and whether H2 execution can close the remaining ~₹2,989 Cr needed to hit the ₹6,000 Cr FY27 revenue guidance after a QoQ-soft Q2.

PNC Infratech Ltd. has announced a Board Meeting scheduled for October 28, 2026, in Agra. The primary agenda is to consider and approve the un-audited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. Concurrently, the company has closed its trading window for designated employees and connected persons, effective until 48 hours after the declaration of these financial results, in compliance with SEBI's insider trading regulations.

PNC Infratech Ltd has announced a Board of Directors meeting scheduled for November 25, 2026, in Agra. The primary agenda is to consider and approve the un-audited standalone and consolidated financial results for the quarter and half-year ended September 30, 2026. Concurrently, the company has closed its trading window for designated employees and connected persons from the announcement until 48 hours after the financial results are declared, in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015.

PNC Infratech Limited and its Special Purpose Vehicle, Awadh Expressway Pvt Ltd., have secured an order from the Hon'ble High Court of Delhi staying the debarment orders issued by NHAI on August 11, 2026, and September 3, 2026. The company downloaded the court's order on October 13, 2026. This stay means that the development, construction, operations, and maintenance activities of PNC Infratech and its subsidiaries will continue unaffected. The company will disclose any financial implications in due course. The trading window for designated employees and connected persons remains closed.

PNC Infratech Limited has incorporated a wholly-owned subsidiary, PNC Infratech (Kazakhstan) LLP, in the Republic of Kazakhstan. The subsidiary's main objective is to provide infrastructure services, primarily in the Roads & Highways sector. The incorporation was completed on October 7, 2026, with an initial charter capital of 500,000 KZT. The company has invested the entire initial capital as cash consideration. This move signifies PNC Infratech's expansion into international markets, aiming to leverage its expertise in infrastructure development in Kazakhstan.

PNC Infratech Limited held its 27th Annual General Meeting (AGM) on September 30, 2026, via Video Conferencing. The meeting included voting on resolutions related to the adoption of audited financial statements (standalone and consolidated) for the year ended March 31, 2026, and the declaration of dividend for the same financial year. The company appointed DR Associates as the Scrutinizer for the remote e-voting and e-voting during the AGM. MUFG Intime India Private Limited acted as the Registrar and Transfer Agent for the e-voting platform. The remote e-voting period was from September 27 to September 29, 2026. The filing indicates that one shareholder abstained from voting on the financial statements, and one shareholder's vote was treated as invalid for both agenda items due to non-receipt of authorization.

PNC Infratech Ltd held its Annual General Meeting (AGM) on September 30, 2026, via Video Conferencing. Key resolutions passed include the re-appointment of M/s. NSBP & Company as Statutory Auditors for a two-year term. Additionally, shareholders approved the re-appointment of Mr. Pradeep Kumar Jain, Mr. Chakresh Kumar Jain, and Mr. Yogesh Jain as Managing Directors, and Mr. Anil Kumar Rao as Whole Time Director for five years from October 1, 2026. The re-appointment of Mr. Naresh Kumar Jain and Ms. Seema Singh as Independent Directors for a second five-year term, and the appointment of Mr. Rohit Kumar Singh as an Independent Director for five years, were also approved.

PNC Infratech Limited convened its 27th Annual General Meeting (AGM) on September 30, 2026, via Video Conferencing. The meeting was held in compliance with the Companies Act, 2013, and SEBI Listing Regulations. Key attendees included Directors, CFO, Auditors, and committee chairpersons. The audited standalone and consolidated financial statements for the financial year ended March 31, 2026, along with the Board and Auditors' reports, were considered and adopted. The meeting also addressed the declaration of dividends. No qualifications or adverse remarks were noted in the Auditors' or Secretarial Auditors' reports. Authorized representatives of corporate shareholders could attend and vote.