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Dolat Capital Report
HG Infra Engineering Ltd. reported results above estimates on all fronts.
The company reported down 1.4%/ 4.9%/ down 15.3% YoY growth in revenue/ Ebitda/ profit after tax to Rs 4.7 billion/ Rs 769 million/ Rs 327 million in Q2 FY21.
We broadly maintain our estimates for FY21E/ FY22E despite muted H1 FY21 as we expect execution to pick up significantly from Q3 FY21E in projects worth Rs 33.4 billion on receiving the appointed date coupled with stabilization of labour and supply chain issues.
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