Dilip Buildcon Q4 Review - Execution To Improve In H2 FY21: IDBI Capital

Workers level a newly constructed stretch of road on the outskirts of New Delhi. (Photographer: Amit Bhargava/Bloomberg News).

Dilip Buildcon Q4 Review - Execution To Improve In H2 FY21: IDBI Capital

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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.

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).

Click on the attachment to read the full report:

IDBI Capital Dilip Buildcon Q4FY21 Result Update.pdf

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