PBA Infrastructure Limited (PBAINFRA) AI Stock Analysis

• Market Cap: ₹169.03M
• Dividend Yield: N/A
• Average Volume (3M): 14.32K
• Price to Earnings (P/E): 10.2
• Beta (1Y): 0.22
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: IN
• Employees: 73
• Sector: Services
• Sector Strength: N/A
• Industry: Engineering & Construction
• EPS (TTM): -16.97
• Shares Outstanding: 13,500,562
• 10 Day Avg. Volume: 14,691
• 30 Day Avg. Volume: 14,323
• PEG Ratio: -1.00
• Price to Book (P/B): -0.10
• Price to Sales (P/S): 0.31
• P/FCF Ratio: 8.20
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: ₹14.00 ▲(2.04% Upside)

The score is primarily held back by weak financial performance (negative/volatile profitability and high balance-sheet stress from negative equity). Technical indicators are only modestly supportive with price above key moving averages but a slightly negative MACD, and valuation appears moderate based on the P/E with no dividend data to add support.

Positive Factors

Diversified Infrastructure Services

PBA’s multi-segment presence across transportation, water management and urban development reduces exposure to any single end-market cycle. This structural diversification supports steadier backlog and bidding opportunities, enhancing resilience of revenue streams over months.

Contracting and Partnership Revenue Model

The company’s contracting, consultancy and JV-based model secures multi-year projects typically funded by governments or corporates, providing predictable work pipelines. Long-term client relationships and JV capabilities improve win rates and scale for large infrastructure contracts.

Improving Operating Cash Generation

Although free cash flow has fluctuated, recent improvements and an operating cash flow to net income ratio signal an improving ability to convert operations into cash. Sustained cash generation would support working capital and reduce reliance on external financing.

Negative Factors

Negative and Volatile Profitability

Consistently negative and volatile gross and net margins reflect structural challenges in cost control, pricing on contracts, or project execution. Persistent margin weakness undermines ability to fund capex or service debt and constrains long-term earnings recovery prospects.

Negative Equity and High Leverage

Negative shareholders' equity and elevated leverage create solvency risk and limit financial flexibility. Over months, this restricts the company’s ability to bid competitively, access low-cost financing, and absorb cost overruns on large projects without restructuring or capital support.

Inconsistent Revenue Growth and Recent Decline

Irregular top-line performance and a recent material revenue drop indicate exposure to lost contracts or execution delays. Without steady order book replenishment, revenue instability pressures margins, cash flow predictability, and the sustainability of operations over the medium term.

PBA Infrastructure Limited Business Overview & Revenue Model

Company Description

PBA Infrastructure Limited engages in the construction of various infrastructure projects in India. It undertakes infrastructure projects, such as highways, bridges, runways, plants, heavy RCC structures, irrigation projects, and other projects. The company was incorporated in 1974 and is based in Mumbai, India.

How the Company Makes Money

PBA Infrastructure Limited generates revenue primarily through its diverse range of contracting services in infrastructure development. The company typically earns money by winning contracts for large-scale construction and engineering projects, often funded by government agencies or private corporations. Key revenue streams include project management fees, construction contracts, and consultancy services related to infrastructure planning and execution. Additionally, PBAINFRA may engage in joint ventures or partnerships with other firms to enhance its service offerings and expand its market reach, further contributing to its financial performance.

PBA Infrastructure Limited Financial Statement Overview

Summary

PBA Infrastructure Limited is experiencing significant financial difficulties. The income statement shows negative profitability and inconsistent revenue growth. The balance sheet highlights high leverage and negative equity, raising concerns about financial stability. Cash flow generation is inconsistent, indicating challenges in sustaining operations.

Income Statement

PBA Infrastructure Limited has faced significant challenges in maintaining profitability. The gross profit margin and net profit margin have been volatile, with recent years showing negative margins. Revenue growth has been inconsistent, with a significant decline in the most recent year. The EBIT and EBITDA margins have also been negative, indicating operational inefficiencies and challenges in cost management.

Balance Sheet

The company's balance sheet reveals a high debt-to-equity ratio due to negative stockholders' equity, indicating financial instability and potential solvency risks. The equity ratio is negative, further emphasizing the company's reliance on debt financing. Return on equity is not meaningful due to negative equity. Overall, the balance sheet reflects significant financial stress and leverage concerns.

Cash Flow

Cash flow analysis shows fluctuating free cash flow, with recent improvements but still facing challenges. The operating cash flow to net income ratio indicates some ability to generate cash from operations, but the free cash flow to net income ratio has been inconsistent. The company needs to stabilize its cash flow generation to support operations and reduce financial risk.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	308.64M	364.48M	604.95M	111.57M	11.80M	188.17M
Gross Profit	4.19M	21.41M	-43.30M	-862.39M	-36.07M	96.61M
EBITDA	52.69M	58.03M	60.38M	-1.24B	72.71M	64.45M
Net Income	9.28M	12.22M	24.54M	-1.34B	-1.70M	17.11M
Balance Sheet
Total Assets	0.00	3.31B	3.27B	3.18B	4.52B	4.81B
Cash, Cash Equivalents and Short-Term Investments	188.50M	189.20M	176.30M	87.17M	70.82M	73.95M
Total Debt	0.00	4.05B	4.06B	4.02B	4.02B	4.31B
Total Liabilities	1.15B	4.46B	4.44B	4.37B	4.37B	4.65B
Stockholders Equity	-1.15B	-1.15B	-1.17B	-1.19B	150.39M	152.09M
Cash Flow
Free Cash Flow	0.00	13.90M	-1.00K	-22.98M	264.40M	73.43M
Operating Cash Flow	0.00	13.90M	-136.66M	-22.98M	264.40M	73.43M
Investing Cash Flow	0.00	6.01M	111.63M	19.38M	43.20M	3.32M
Financing Cash Flow	0.00	-14.30M	44.70M	3.90M	-282.40M	-76.26M

PBA Infrastructure Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 13.72
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:PBAINFRA, the sentiment is Negative. The current price of 13.72 is above the 20-day moving average (MA) of 13.24, above the 50-day MA of 13.35, and above the 200-day MA of 12.54, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 44.39 is Neutral, neither overbought nor oversold. The STOCH value of 55.89 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:PBAINFRA.

PBA Infrastructure Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
RKEC	59 Neutral	₹1.28B	7.81	―	―	-12.26%	-36.87%
Sector *	55 Neutral	$13.29B	17.42	10.03%	0.93%	7.13%	-12.93%
PBAINFRA	47 Neutral	₹169.03M	10.25	―	―	―	―
ARSSINFRA	43 Neutral	₹1.25B	-0.04	―	―	-75.03%	-17499.32%
CANDC	42 Neutral	₹60.05M	―	―	―	―	―