Dilip Buildcon Q4 Review - Execution To Improve In H2 FY21: IDBI Capital
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IDBI Capital Report
Dilip Buildcon Ltd. Q4 FY21 result (Ebitda) was in-line with our estimate.
FY21 revenue was up 2% YoY and the company delivered on its guidance of maintaining flattish revenue.
Company has successfully concluded qualified institutional placements by raising Rs 5.1 billion at price of Rs 540 and has guided for cash flow of Rs 15 billion from asset monetization in FY22.
This is expected to strengthen its balance sheet further and NDER to further reduce to 0.5 times by FY22 versus ~0.8 currently.
Diversification of order book has continued in FY21 and as on FY21 the company has an order book of Rs 274 billion (three times trailing twelve month revenue).
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