PNC Infratech's standalone revenues, OPM, and net profit missed estimates due to project delays and heavy monsoons, leading to reduced revenue guidance for FY2025, but the company expects 30% y-o-y revenue growth in FY2026 and has retained its order inflow target. Sharekhan maintains a Buy rating with a revised target price of Rs. 400.
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PI Industries' revenue and EBITDA missed estimates due to a domestic segment decline and increased expenses, but adjusted PAT was in line; FY26E EPS estimates were decreased to INR 140.6 due to reduced guidance and demand fluctuations. Despite this, the "BUY" rating is maintained with a target price of INR 4,922, citing new product launches and CSM export growth.
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Happiest Minds Technologies' Q2FY25 earnings missed estimates despite a revenue beat, with PAT declining 15.3% YoY due to higher interest expense and tax rates. The company's EBIT margin stood at 13.2%, with a PAT margin of 9.5%. The target price has been lowered to INR 803, implying an 8.5% upside. Happiest Minds Technologies' shares are maintained at an "accumulate" rating.
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