BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
Power Mech Projects Ltd. reported its highest-ever consolidated first quarter revenue at Rs 7.5 billion for Q1 FY23, up by 19.9% YoY. The topline was below our estimate by 17.3%. ETC/operations and maintenance/civil segment’s sales jumped by 11%/13%/32% YoY to Rs 1.52 billion/Rs 1.96 billion/Rs 3.76 billion.
Ebitda stood at Rs 835 million, up 26.5% YoY. Ebitda margin improved by 60 basis points YoY to 11.2%, above our estimate of 10.5%. Consequently, profit after tax came in at Rs 395 million, up 25.5% YoY. Profit after tax was below our estimate by 23.8%.
Order book (excluding the MDO contract worth Rs 92.94 billion) remains strong at Rs 88.89 billion (3.28 times FY22 sales).
Order inflow for the quarter stood at Rs 7.75 billion. Power Mech received an order worth Rs 61.6 billion from the Adani group on August 18, 2022. The company has level-one position in orders worth Rs 15 billion.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime 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 author entity and do not represent the views of BQ Prime.
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