BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
HDFC Securities Report
HG Infra Engineering Ltd. reported revenue at Rs 3 billion (7% miss).
However, adjusted profit after tax was nearly three times our estimate on better than expected Ebitda margin and lower interest expense.
Labour availability has improved to 85% of the required labour force. While HG Infra did not secure any orders during the quarter, it aims to win Rs 30-40 billion during FY21.
Order backlog is robust at Rs 68 billion (3.1times FY20 revenue). Standalone net debt increased to Rs 2.7 billion from Rs 2.5 billion on March 2020 as working capital nearly doubled to Rs 1.4 billion from Rs 0.7 billion on March 2020.
Realization of receivables from Rajasthan project key for reduction in debt.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR