BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Centrum Broking Report
Ahluwalia Contracts India Ltd.’s Q4 FY21 results significantly beat estimates, led by strong execution.
Revenue grew 38.7% YoY to Rs 7.6 billion (estimate: Rs 5.7 billion) and profit after tax came in at Rs 371 million (estimate: Rs 227 million).
Ebitda margin grew 500 basis point YoY to 9.2% though still impacted by provisions/write-off of ~Rs 340 million.
Order backlog is robust at Rs 76.1 billion (3.8 times trailing twelve months revenues), with 58% of the backlog from the high priority healthcare sector.
The company is finally delivering on the much-awaited execution pick-up and with provisions and write-offs on legacy projects now complete, margins and earnings too should pick up.
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