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Dilip Buildcon Q4 Review - QIP, HAM Monetisation To Lead Significant Deleveraging: Dolat Capital

Dilip Buildcon Q4 Review - QIP, HAM Monetization To Lead Significant Deleveraging: Dolat Capital

<div class="paragraphs"><p>Surveyors work on top of a concrete support structure at a road construction site in New Delhi. (Photographer: Qilai Shen/Bloomberg News).</p></div>
Surveyors work on top of a concrete support structure at a road construction site in New Delhi. (Photographer: Qilai Shen/Bloomberg News).

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.

Dolat Capital Report

Dilip Buildcon Ltd. reported revenue and adjusted profit after tax above estimates however, Ebitda margin marginally below estimates.

The company posted 17.0%/ 10.6%/ 15.6% YoY growth in revenue/ Ebitda/ adjusted profit after tax to Rs 29.2 billion/ Rs 4.6 billion/ Rs 1.3 billion in Q4 FY21.

We broadly maintain our revenue estimates for FY22E/ FY23E and reduce Ebitda margin estimates by 70 basis points/ 60 basis points for FY22E/ FY23E penciling higher input cost.

However, we upgrade adjusted profit after tax estimates by 7%/ 18.9% in FY22E/ FY23E primarily led by reduction in finance cost due to debt reduction.

Click on the attachment to read the full report:

Dolat Capital Dilip Buildcon Q4FY21 Result Update.pdf

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